Alkmist, a platform designed to bring structure and clarity to disorganised documents and communication, has raised €1.8 million to further develop its platform, strengthen its marketing, and accelerate its European expansion. In financial and legal workflows, inefficiencies in communication consume nearly a third of professionals’ time. Hours are lost chasing updates, sending reminders, and requesting documents, with a single audit generating, on average, 2,000 emails. Data security and transparency add to the concerns. Seventy-four per cent of auditors and financial professionals say they are unsure where their information actually ends up. With Alkmist, teams and external partners can finally work together in a clear and efficient way. The platform brings everything into one overview, from planning and tasks to approvals. Behavioural science plays a key role. Insights such as loss aversion and positive feedback nudge users towards timely follow-up and smoother interactions. Collaboration speeds up by as much as a third. The system is independent and available as white-label, allowing organizations to keep their own identity. The team is also building a central knowledge base where all information is bundled and preserved, even when staff change. Since June, Alkmist has been ISO 27001 certified, confirming the highest standard for data security and management. Dr. Mathias Celis, co-founder of Alkmist, shared: The way organizations collaborate today on audits, acquisitions, or tax files is still stuck in old habits. Crucial documents drift around in inboxes, status updates vanish, and processes are barely automated. That lack of oversight and efficiency weighs heavily on everyone involved. Alkmist is also building smart agents that automatically check, link, and fetch documents. They verify information, connect data dumps to the right requests, and pull files directly from systems like OneDrive. Clients instantly know which documents are already taken care of. Toto De Brant, co-founder of Alkmist, said: With Alkmist, we’ve built a modern tool that radically simplifies collaboration in complex processes. Interest from abroad is growing fast. Demand is so high that we’ve even had to start a waiting list. This capital injection allows us to meet that demand. Within five years, we want to be the standard for multi-party collaboration, the default workspace where everyone has clarity and control. The round is led by Network Venture Partners, with additional participation from Lighthouse executives Ivo Minjauw, Peter De Moor, and Eva Metsu. Ivo Minjauw, Chief Product Officer at Lighthouse, commented: I’m impressed by how Alkmist’s AI agent vision manages to streamline complex collaboration in one of the most conservative markets. It’s rare to see such an innovative solution that not only brings technological progress but also helps transform an entire sector through psychological insights. The strong demand from the market, with major pilots and a waiting list of dozens of interested parties, shows just how relevant and scalable this product is. With this funding, Alkmist plans to expand its platform beyond audit into broader domains such as accounting, finance (M&A, PE, banking), insurance, tax, and legal. At the same time, the startup is developing smart AI agents to streamline collaboration in conservative markets.

Vienna-based AI startup fonio.ai has acquired Linz-based AI phone assistant fluently in an asset deal. With this transaction, fonio.ai integrates its largest competitor in the Austrian market to date, further cementing its leading position in Voice AI solutions. Daniel Keinrath, CEO and co-founder of fonio.ai, said: AI phone assistants are one of the most natural applications of artificial intelligence, and we were fortunate to start very early in the DACH market. That head start has given us tremendous momentum in recent months. The acquisition of fluently marks a major step forward. We anticipate further consolidation in the market. Fluently, launched by Linz-based digital agency softwarebude.at, offers a conversational AI platform that manages inquiries, books appointments, and integrates with calendars and CRMs. Fully customizable to each business’s tone and compliant with GDPR and the EU AI Act, Fluently quickly became one of Austria’s leading AI phone assistant brands, serving around 450 customers and emerging as a key competitor to fonio.ai. Moritz Weibold, Founder of fluently, explains: We decided to sell in order to focus on further growing our digital agency. Scaling fluently in parallel would have required shifting our entire focus to the AI business. Given the speed at which technology and the market are evolving, and the pace of fonio.ai, it simply wasn’t feasible for us. As part of the asset deal, fluently will be integrated into fonio.ai, while softwarebude.at will continue operating independently and serving its clients on fonio.ai’s infrastructure. In addition, the agency will become a strategic partner, distributing fonio.ai’s AI solutions and developing tailored automations and integrations, for example, linking fonio.ai with platforms such as HubSpot, Salesforce, or SAP. Founded in Vienna in 2024, fonio.ai provides AI-powered phone assistants that automate customer communication 24/7. The platform answers calls, forwards inquiries, books appointments, and integrates with CRM and ERP systems, while every interaction is transcribed and can be stored, shared, or connected to existing tools. In under a year, fonio.ai has grown to over 2,000 customers and now automates more than 800,000 calls monthly with a team of just eight. With average monthly growth of about 30%, the company is on track to reach 5,000–8,000 customers by year-end, establishing itself as the leading AI phone solution provider in the DACH region. The market for AI phone assistants is only just beginning to take shape. As the DACH market leader, fonio.ai is playing a central role in defining it. Our next step is international expansion, with the clear goal of becoming a global player. We want to prove that it’s possible to build an international tech leader out of Austria, concludes Keinrath. Lead image: Matthias Reiner, Moritz Weibold, Daniel Keinrath | Photo: Kurt Keinrath

Amsterdam-based OAASIS, a company that uses AI-driven software to make advanced supply chain management and optimisation accessible to SMEs and mid-market firms, has raised €2.9 million and is officially entering the Dutch market. OAASIS was founded by Dutch entrepreneurs Wouter Samama and Lucas Koster, who together bring over 25 years of senior experience in supply chain management and technology at multinational companies, including Procter & Gamble and Kraft Heinz. With OAASIS, they have developed an AI-powered, modular platform that unites advanced technology with expert services in a single end-to-end solution. Their mission is to make supply chain management and optimisation at the level of large corporates accessible to SMEs and mid-market companies in the consumer goods industry. Wouter Samama, CEO of OAASIS, shared: Compared to large international corporates, smaller companies often lack the right software, processes and expertise for optimal supply chain management. The complexity means that many opportunities for optimisation remain unknown and untapped, while they could have a major impact on results. With OAASIS, we bridge this gap and enable these companies to operate at the same level with ease. The platform uses advanced AI models to optimise complex supply chain operations into an efficient and transparent ecosystem. It provides users with instant visibility across the entire chain and supports smarter decisions in purchasing, production, inventory, and logistics through data insights, scenario analysis, and forecasting. This is what sets OAASIS apart from other providers in the same price segment. Samama explains that OAASIS is nothing like a traditional inventory management platform: It’s a tool that calculates all possible scenarios for optimisation, even when there are constraints or trade-offs to consider, such as how much inventory is needed to ensure high customer service levels. Another distinctive feature of the platform is the support provided by experienced supply chain planners, managers, and engineers, who can be engaged by clients as needed.  OAASIS not only provides world-class technology but also offers additional support when needed. This allows our clients to get the most out of the software and complement the expertise of their in-house teams. This combination of ‘software and services’ enables supply chains to transform for maximum efficiency and optimal results, says Samama. Finally, its modular, plug-and-play design ensures OAASIS can be up and running within a month and easily scaled as the company grows. The use of the platform promises a minimum ROI of 300 per cent, can boost customer satisfaction by up to 99 per cent, improve inventory accuracy by up to 30 per cent and reduce annual operational costs by up to 10 per cent. OAASIS has secured funding from HGT Invest to develop its platform and build a strong team of 11 professionals, with Pieter de Haas joining Wouter Samama (CEO/CFO) and Lucas Koster (CTO/COO) as CCO. Arie Thomassen, Director at HGT Invest, commented: By combining smart technology with hands-on support, OAASIS provides significant value to smaller companies looking to continuously optimise their supply chains. We have complete confidence in the team, led by experienced management with a proven track record, and are excited to contribute to their growth. In the coming months, the company will focus on further growth within the Benelux, with the aim of expanding within two years to the United Kingdom, Germany, Austria and Switzerland, followed by wider European growth and entry into other continents. The official launch of OAASIS is also marked by the onboarding of its first customers, including e-Luscious, Marcel’s Green Soap, Senza Tea, The Nice Company, and Élala.

Espoo-based Agate Sensors, a startup developing smart sensors for material analysis, has raised €5.6 million. The funding will help commercialise a breakthrough that shrinks spectroscopy from suitcase-sized lab equipment to a single pixel smaller than a grain of sand, integrated into a chip compact enough to sit on a fingertip. The round includes €4 million in seed funding led by Voima Ventures and LIFTT, along with an additional €1.6 million in grants from Business Finland. Founded in 2024 as a spin-out from Aalto University, Agate Sensors is pioneering chip-scale spectral sensing technology that merges photography, hyperspectral imaging, and biosensing into a single platform. Backed by leading scientific research and patents, the company enables light-based intelligence across healthcare, defence, environmental monitoring, and consumer electronics. Unlike conventional cameras limited to three colour bands, Agate’s sensors distinguish hundreds simultaneously, giving machines “superhuman” vision to reveal details invisible to the human eye. As demand grows for richer environmental awareness in AI and autonomous systems, Agate’s platform expands machine vision into new domains. Its smart sensors capture spectral data and, powered by AI, classify materials and objects in real time. This unlocks applications ranging from health monitoring in wearables to counterfeit detection, environmental hazard identification, and smart agriculture. By sharing this intelligence across networks, machines gain a deeper, more coordinated understanding of their surroundings, surpassing human vision. Tommi Leino, CEO of Agate Sensors, said: We’ve taken a spectrometer once confined to specialised labs and made it small and affordable enough to live inside everyday devices. One sensor can shift between functions entirely through software — from diagnosing a health condition to detecting, identifying, and classifying objects and materials — changing how we interact with the physical world. Initial chip production is expected by year-end, with proof-of-concept demos in 2026 and the first commercial smart wearables planned for late 2027. This funding allows us to commercialize a technology that fundamentally changes how machines perceive the world, added Mikael Westerlund, CBO of Agate Sensors.  We’re not just building sensors, but enabling a new layer of light-based intelligence. Agate Sensors’ software-defined spectroscopy platform reads the “spectral signatures” of materials through light analysis.  Dr. Andreas Liapis, CTO of Agate Sensors, explained: This technology is the result of over a decade of research in semiconductor physics and nanotechnology at Aalto University. For the first time, we are able to bring laboratory-grade spectroscopy to an integrated form factor suitable for mass market use. Niko Elers, Investment Director at Voima Ventures, added: Agate Sensors’ platform is a leap forward in hyperspectral sensing: software-defined, scalable, and truly high-performance. It holds immense potential to reshape industries that rely on precise optical measurement, and we are very excited to support the company on the journey ahead. Defense is among the earliest market-ready applications. For example, the sensors can distinguish between real foliage and synthetic camouflage materials, or identify specific vehicle types through their paint signatures. Pierluigi Freni, Project Manager at LIFTT, commented: We believe this innovation will play a critical role in strengthening Europe’s technological sovereignty in defense and security. For the first time, we have a technology capable of mass deployment that allows machines to understand what they see. This changes everything we know about spectral data usability and usage. We confirm our trust and belief in the Finnish innovation ecosystem, in which we have decided to continue investing together with LIFTT Euroinvest, the investment vehicle we share with the European Investment Bank. The funding round will accelerate production of chip-scale sensors that give any camera the ability to instantly analyze what it sees, from food and health checks to counterfeit detection and critical defense applications.

ElevenLabs, the UK AI unicorn, has confirmed that it is carrying out an employee share sale at a $6.6bn valuation, double its valuation of nine months ago.The UK startup also says it has hit over $200m ARR (annual recurring revenue) in less than three years after being founded.Founded by two Polish entrepreneurs, ElevenLabs leverages AI to convert text into speech which sounds like it’s being read by human voices.The AI startup says it's carrying out a $100m employee tender co-led by Sequoia & ICONIQ at a $6.6bn valuation. Andreessen Horowitz, Smash Capital, and World Innovation Lab are also participating. Reports of the planned employee share sale emerged last week. The offer will allow staff who have worked at the startup for more than a year to cash in on their shares.In January this year, its valuation tripped to $3.3bn, after it raised $180m.In a LinkedIn post, CEO and co-founder Mati Staniszewski said: “Earlier this year, we surpassed $200 million in ARR and we expect to top $300m by year end. “We’re also rapidly approaching a 50/50 revenue split between our enterprise and self-serve customers, with enterprise revenue having grown more than 200% in the last year. “We feel it’s extremely important to give our people the chance to realize some of the value they’ve created and earned today. "We’re building for the long term with the aim of creating a generational company. Continuous liquidity opportunities will help our whole team align on that goal."Founded in 2022, ElevenLabs says its AI tools are capable of replicating voices with high accuracy. For example, the tech allows users to hear the voices of late Hollywood icons like Judy Garland and James Dean narrating books, articles, and other digital content. 

Stevenage-based biotech startup NRG Therapeutics has closed a £50 million Series B funding round as it moves towards clinical trials for its pipeline of treatments targeting mitochondrial dysfunction in neurodegenerative diseases. The round includes an £8 million investment from the British Business Bank, alongside lead investor SV Health Investors’ Dementia Discovery Fund (DDF) and follow-on funding from M Ventures, Novartis Venture Fund, Criteria Bio Ventures, and existing backers Omega Funds and Brandon Capital. The Series B funding will support NRG’s transition from pre-clinical to clinical stage, with a particular focus on clinical proof-of-concept in amyotrophic lateral sclerosis (ALS), also known as motor neurone disease (MND). The company also plans to generate initial clinical data in Parkinson’s disease. Founded to address the growing burden of neurodegenerative diseases, NRG Therapeutics is developing a new class of small molecule inhibitors targeting the mitochondrial permeability transition pore (mPTP), a mechanism associated with cell death and neuroinflammation. Its lead candidate, NRG5051, has shown strong neuroprotective effects in pre-clinical models of ALS/MND and Parkinson’s disease, including reducing neuroinflammation. Having completed IND-enabling studies, NRG5051 is on track to enter first-in-human trials in early 2026. “The pathological proteins in Parkinson’s and ALS/MND are toxic to mitochondria and contribute to the mitochondrial dysfunction which is a common underlying pathology in neurodegenerative diseases,” the company stated. “Inhibition of mPTP opening has been shown to protect mitochondria from this gain-of-function protein toxicity and to preserve neurons in pre-clinical models.” Neurodegenerative diseases remain one of the most challenging areas for drug development. Despite high failure rates in clinical trials, the growing prevalence of conditions like ALS and Parkinson’s, particularly in aging populations, continues to attract investors seeking scalable scientific innovation with long-term impact. “Developing new drugs to treat neurological diseases is very challenging but is receiving increased interest given the high unmet medical need and growing prevalence in aging populations,” said Dr. Neil Miller, co-founder and CEO of NRG Therapeutics. “These new funds provide the runway to advance our lead programme through PoC in ALS/MND, and to develop our portfolio of small molecule candidate drugs for other indications including Parkinson’s, offering new hope to the growing number of people and their families impacted by ALS/MND and Parkinson’s.” “We seek to back the best of UK life sciences, helping to turn breakthrough research into world-leading, fully commercial companies,” said Leandros Kalisperas, Chief Investment Officer at British Business Bank. “Like many of our life sciences investments, our investment in NRG Therapeutics is especially rewarding because it has the potential to help find a solution to one of the world’s largest healthcare challenges.” As part of the Series B transaction, Emma Johnson (British Business Bank), Laurence Barker (SV Health Investors), Charlotte Kremers (M Ventures), and Florian Muellershausen (Novartis Venture Fund) will join NRG’s board of directors, bringing added industry expertise as the company heads into clinical development.

AI-powered renewable energy forecasting company, Renewcast, has secured a €1 million SAFE  investment from 2C Ventures Fund I, marking a strategic extension of its 2024 SAFE round. Founded in 2020, Italy-based Renewcast delivers AI-powered forecasting solutions for the renewable energy sector. Leveraging proprietary digital twin technology, the company models complex weather patterns and asset conditions to provide intra-day, day-ahead, and multi-day forecasts. These insights enable utilities, grid operators, and renewable asset managers in Europe and the US to optimise operations and trading efficiency. With more than 1.8 GW of installed renewable capacity under active clients, Renewcast is rapidly expanding its footprint across key energy markets. The company currently runs over 10 pilot programs and serves four commercial clients in Europe and the US, with further growth aimed at India and Asia. Having already scaled more than 2.5x year-on-year, Renewcast is preparing for a Series A round in late 2026. Fabio Nicolò, CEO and Founder of Renewcast, said: This new investment is a vote of confidence in our long-term vision. Our team is growing, our commercial engine is ramping up, and our technology has proven it can deliver measurable value. We aim to be among the top 5–10 renewable forecasters globally within the next one to two years. With this funding, we will consolidate our tech team, scale our commercial efforts across Europe, the US, Latin America, and Asia, and prepare the company for institutional growth. The SAFE round remains open for additional investors up to €1 million, offering a unique opportunity to join Renewcast at a moment of accelerating growth, strong product validation, and market demand. Renewcast's platform, powered by proprietary AI and real-time data modelling, delivers best-in-class forecasting performance. Across client portfolios, Renewcast has consistently outperformed legacy systems, delivering 20–40 per cent improved accuracy and generating millions in annual value through reduced balancing costs. Hendrik Reimand, Founding Partner at 2C Ventures, commented: Affordable renewable energy is the foundation of transitioning to a sustainable economic model and ensuring energy independence. However, the rapidly increasing volumes and accelerating electrification of the economy make accurate forecasting ever more critical. We believe that Renewcast has the ingredients to become a global leader in energy intelligence – technical depth, early traction, and a clear commercial roadmap. This new funding will accelerate Renewcast’s global commercial rollout and reinforce its position among the world’s top renewable forecasting technology providers.

OpenAI has inked a deal with the Greek government, aimed at boosting the country’s startup ecosystem as well as rolling out its AI tools in schools.The deal will see Greece becoming one of the first countries to use a tailored version of ChatGPT, called ChatGPT Edu, designed for educational establishments.Greece will launch a pilot this year, with the first phase focused on AI literacy, helping teachers boost productivity and integrating AI responsibly with their work.Meanwhile, the US AI company is launching a Greek AI accelerator programme, which will prioritise AI startups focused on education, public services, healthcare and climate.This is the first accelerator programme that OpenAI has undertaken in Europe that's backed by the government.Chris Lehane, chief global affairs officer, OpenAI, said: “From Plato’s Academy to Aristotle’s Lyceum—Greece is the historical birthplace of western education. With millions of Greeks using ChatGPT on a regular basis, the country is once again showing its dedication to learning and ideas. “Recognising that nearly 60% of these users are under the age of 35, the Greek Government is opening a new educational chapter that prepares its people to seize the economic opportunities of the Intelligence Age. We are proud to stand alongside Greece as it pioneers how nations can bring AI into education for the next generation.” Greece has one of the highest percentages of STEM graduates in Europe, providing a strong educational foundation for AI skills and careers.  Last month, OpenAI launched its much-hyped GPT-5 model and two open-weight models.

Barcelona-based Integra Therapeutics has closed a €10.7 million pre-Series A round to advance its gene writing technologies designed to improve the safety, precision, and efficacy of advanced therapies. Founded in 2020 by Dr. Marc Güell and Dr. Avencia Sánchez-Mejías as a spin-off from Pompeu Fabra University, the company has developed FiCAT, a platform that combines CRISPR-Cas accuracy with an engineered piggyBac transposase to address major limitations in gene therapy, including payload size, stability, and accuracy, with applications in genetic, oncological, and autoimmune diseases. Avencia Sánchez-Mejías, PhD, CEO and Co-Founder of Integra Therapeutics, shared: Thanks to the support of our investors, we will continue leading innovation in cell and gene therapies and are getting closer to transforming the treatment of complex diseases like cancer, autoimmune diseases and rare diseases. The round includes €4 million from the EIC Fund and €2.7 million from CDTI Innvierte of the Spanish Ministry of Science, Innovation and University, alongside continued backing from AdBio Partners, Columbus Venture Partners, Invivo Partners, and Takeda Ventures. Svetoslava Georgieva, Chair of the EIC Fund Board, commented: We are happy to announce EIC Fund’s investment in Integra Therapeutics. We empower them to accelerate the development of groundbreaking therapies that have the potential to transform lives and advance the field of gene therapy on a global scale. The funding will support the integration of new advances into the FiCAT platform, preclinical validation of next-generation CAR-T therapies, and expansion of cell engineering capabilities to facilitate technology transfer to the pharmaceutical industry. In parallel, the company is developing its first gene therapy for a rare pediatric liver disease, supported by an EIC Accelerator grant.

Helsinki-based DataCrunch, a provider of high-performance AI infrastructure, has raised €55 million in a Series A round to scale its compute platform and advance its ambition to become Europe’s first AI cloud hyperscaler. The round was led by byFounders, Skaala, Varma pension fund, and Tesi, with participation from J12 Ventures and angel investors. Debt financing came from Nordea and Armada Credit Partners, alongside Danske Bank, Norion Bank, and Local Tapiola. With this raise, DataCrunch’s total funding reaches €76.5 million since its founding in 2020. The company already serves major enterprises and innovators, with customers including Sony, Freepik, Schibsted, 1X, Unbabel, and several leading educational institutions. One-stop AI platform DataCrunch provides affordable access to compute clusters optimised for AI workloads, supporting research, training, and inference at scale. It is among the first globally to deploy NVIDIA’s HGX B200 systems, with B300 and GB300 integration to follow, ensuring enterprise users access to the most advanced hardware. The platform is rapidly evolving with innovations such as: Instant Clusters for distributed AI workloads, awarded bronze by SemiAnalysis’ GPU Cloud ClusterMAX™ — matching Google Cloud and outperforming 100+ providers. Serverless Containers, enabling high-volume, low-latency inference, already processing hundreds of millions of requests monthly. Addressing European AI Independence Europe’s AI market is projected to hit $1.4 trillion by 2033, yet US hyperscalers dominate nearly 70 per cent of the continent’s cloud market, while Europe’s largest provider holds only 2 per cent. This dependency raises concerns around sovereignty, compliance, and rising costs. Operating out of Finland and Iceland, DataCrunch is tackling this gap with a sovereign, scalable AI cloud powered 100 per cent by renewable energy, combining high performance, sustainability, and data locality. Ruben Bryon, CEO and Co-founder of DataCrunch, explained: European organisations are facing a critical choice: continue depending on foreign cloud providers or invest in local infrastructure that offers true data sovereignty. This funding enables us to accelerate our vision of becoming Europe's first AI cloud hyperscaler, providing enterprises with cutting-edge infrastructure that keeps their data secure, their operations compliant, and their environmental impact minimal. As regulatory, environmental, and technological forces converge, the company aims to become the default platform for enterprises seeking high-performance, compliant, and sustainable AI compute in Europe. Looking ahead, DataCrunch is strengthening its one-stop AI development platform with new features and upgrades. Upcoming releases include Managed Kubernetes for cluster management, geographically distributed Object Storage, and Managed Inference Endpoints with custom acceleration for cutting-edge generative models. In parallel, the company will enhance existing capabilities with improvements to Identity Access Management (IAM), APIs, serverless container cold starts, broader OS image support, and advanced network automation.  Securing EU-backed AI gigafactory In partnership with Latvia and international investors, DataCrunch has submitted a proposal to the European Commission to develop an AI gigafactory equipped with around 100,000 AI accelerators. Located in Latvia, with potential for additional EU sites, the facility would provide secure, regulation-compliant compute capacity for startups, SMEs, and research institutions, fully powered by renewable energy. Funded by DataCrunch’s investor partners, this project will further demonstrate DataCrunch’s competence as a provider of large-scale, secure, and energy-efficient computing infrastructure.  Henrik Rosendahl, board member in DataCrunch, commented: DataCrunch exemplifies the type of European tech leadership that’s essential today. As AI becomes increasingly integral to business operations, European enterprises are seeking infrastructure partners who not only grasp complex regulatory landscapes but also share their sustainability values. DataCrunch delivers on both, while providing access to the most advanced AI compute on the market. By maintaining 100 per cent renewable operations at scale, DataCrunch is positioning itself not just as Europe’s first AI hyperscaler, but also as a global leader in sustainable, regulation-ready AI infrastructure.

In August, European tech companies secured €3.2 billion across 189 deals, reflecting a 66 per cent drop in investment volume and 47 per cent fewer deals compared to July 2025. Despite this month-on-month slowdown, the market showed far greater strength than a year earlier, with investment levels up nearly 70 per cent year-on-year from €1.9 billion in August 2024, even though deal count fell slightly from 203 to 189. The UK led the way with €907.9 million in investments, followed by Italy (€504.8 million), Switzerland (€467.9 million), Germany (€331.1 million), and Sweden (€202.2 million), highlighting both the UK’s continued dominance and the growing role of other European hubs. By industry, energy (€746.9 million), software (€633.1 million), and healthtech (€514 million) stood out as the strongest sectors, underscoring investor appetite for long-term, transformative technologies. Simone Lavizzari, Investment manager at Join Capital, commented on the August numbers within the European tech investment landscape in our August Tech.eu Pulse, a compact version of the monthly report: Europe is bursting with talent, ideas, and the ability to lure back those who once left. But if we want real scale-ups and true category leaders, we need more than talent and capital. We need bold structural change: a true single market, and a single stock exchange. Until then, Europe will keep producing brilliance, just not enough breakthroughs. For his more detailed review and more in-depth analyses of the European tech ecosystem, including industry and country performance, exit activities, and more, check out our August report. Here are the 10 largest tech deals in Europe from August, accounting for approximately 59 per cent of the month’s total funding. Amount raised: €500M Bending Spoons is a Milan-based technology powerhouse that develops and operates a portfolio of widely acclaimed mobile apps, including Evernote, komoot, Meetup, Remini, StreamYard, and WeTransfer, used by hundreds of millions worldwide. The company combines design excellence with strong engineering, leveraging proprietary technologies and a highly data-driven, creative mindset to power its products. Bending Spoons secured over €500 million in debt financing to accelerate its acquisition strategy and strengthen its position in the technology, media, and telecommunications (TMT) sector. Amount raised: $300M Energy Vault pioneers long-duration, utility-scale energy storage using gravity- and kinetic-based systems. Their flagship "gravity battery" harnesses the potential energy stored in towering stacks of heavy composite blocks, releasing electricity when needed via reversible cranes. Their solutions span multiple technologies, from proprietary gravity storage and traditional batteries to hybrid configurations involving hydrogen, supported by advanced orchestration software to optimise performance across both operational and commercial metrics. Energy Vault raised $300 million to launch Asset Vault, a new subsidiary focused on building and operating energy storage assets. Amount raised: £220M Pulse Clean Energy is a UK-based leader in energy storage solutions, focused on stabilising and optimising clean energy networks through ethical and sustainable practices. Their innovations help overcome renewable energy’s inherent variability by advancing energy storage and grid optimisation. Notably, they developed the UK Storage Asset Emissions Impact Calculator, an open-source tool enabling real-time tracking and certification of battery storage systems’ carbon impact. Pulse Clean Energy secured £220 million in green financing to fuel the construction of six new ready-to-build BESS sites. Amount raised: €200M Ortivity is a German outpatient orthopaedic care platform, a physician-led network dedicated to revolutionising non-surgical orthopaedic treatments. Operating over 100 sites across three regional clusters (Bavaria, North Rhine-Westphalia, and Baden-Württemberg), Ortivity unites top-tier practices under a shared philosophy of medical excellence, seamless patient experience, and operational innovation. By pooling resources across its network, Ortivity enables clinics to access cutting-edge equipment, advanced treatment methods, and digital tools, creating a unified ecosystem that enhances patient access, elevates treatment standards, and fosters sustainable growth. Ortivity closed €200 million funding round to scale its integrated outpatient model across Germany. Amount raised: €150M Aira is a Swedish clean energy technology company on a mission to decarbonise homes across Europe one at a time. With a vertically integrated model, from R&D and manufacturing in Sweden and Poland to end-to-end installation and service in markets like the UK, Germany, and Italy, Aira makes intelligent heat pumps accessible via affordable monthly plans with no upfront cost. Its solutions can reduce household heating bills by up to 40 per cent and cut CO₂ emissions by up to 75 per cent, supporting the transition off gas toward a cleaner, smarter energy future. Aira secured a €150 million investment to accelerate its operations and expand its intelligent clean energy technology offering. Amount raised: €150M Greenvolt Group is a Portuguese renewable energy company that generates power from forest residues, wind, and solar. Listed on Portugal’s PSI-20, it develops and operates projects across Europe, North America, and Asia, with activities structured around three business areas: Sustainable Biomass, Distributed Generation, and Utility-Scale projects. Greenvolt Group has raised €150 million to fuel its growth strategy, with a focus on expanding large-scale battery energy storage systems (BESS). Amount raised: £125M GoFibre is an independent broadband provider dedicated to bridging the rural digital divide across Scotland and northern England. By investing millions in state-of-the-art full-fibre infrastructure, the company delivers ultra-fast, reliable broadband, up to 1 Gbps, to underserved towns and villages. Driven by local teams and communities, GoFibre combines swift installations, UK-based customer support, and a commitment to environmental sustainability and community development. GoFibre has raised £125 million to support the rollout of two Project Gigabit contracts in South and North East Scotland. Amount raised: €106.2M Oculis is a biopharmaceutical company dedicated to “rethinking ophthalmology to save sight and improve eye care.” Its pipeline includes innovative, non-invasive eye drop treatments for conditions such as diabetic macular oedema (OCS-01), dry eye disease (OCS-02), and acute optic neuritis (OCS-05), all built upon its proprietary OPTIREACH® drug delivery technology and designed to address stubborn unmet needs in eye health. Oculis has expanded its loan facility to provide up to €106.2 million in flexible financing, intended to support regulatory activities and late-stage clinical trials for its three core ophthalmic and neuro-ophthalmic asset candidates. Amount raised: $100M CuspAI is a UK-based frontier AI startup transforming materials science with its “search engine for materials.” The company harnesses generative AI, deep learning, and molecular simulation to discover breakthrough materials in months instead of decades, drastically accelerating innovations in sectors like carbon capture, clean energy, and advanced manufacturing. CuspAI has raised $100 million to drive growth, expand its platform, build partnerships, and scale hiring, paving the way for breakthroughs in material science. Amount raised: $100M Framer is a no-code website design and publishing platform that combines a fully flexible visual design canvas with built-in CMS, animations, SEO, A/B testing, analytics, and enterprise-grade security. Trusted by designers and high-performance teams, it makes it easy to create, collaborate on, and launch complex, high-traffic websites without writing code. Framer has closed a $100 million Series D, boosting its valuation to $2 billion and raising total funding to over $160 million.

Germany-based unmanned aerial systems (UAS) specialist Quantum Systems has announced a major strategic expansion into the UK market, committing up to €50 million in investment over the next five years. The expansion follows Quantum Systems' full acquisition of Nordic Unmanned UK, a move that solidifies its local footprint and underscores its intention to support the UK Ministry of Defence’s (MoD) 20-40-40 strategy. "Our mission is clear. The UK is investing in autonomy, resilience, and next-generation unmanned intelligence. With our UK hub, our acquisition of Nordic Unmanned UK, and the leadership of Vito Tomasi, Quantum Systems is committed to being the trusted partner delivering these capabilities for Britain’s defence and security," said Martin Karkour, Chief Revenue Officer of Quantum Systems. Quantum Systems plans to invest in local infrastructure, engineering, and industry partnerships, with an emphasis on building sovereign capabilities through the development of Service, Support, Training, and Logistics Center (SSTLC) capabilities on demand. The model is based on its localisation work in Ukraine, where the company has built forward-operating capacity for drone operations and maintenance. The company also plans to formalise a Memorandum of Understanding with Skyports at DSEI UK 2025, aimed at integrating drone logistics and transport solutions, further embedding Quantum Systems within the UK tech and defence ecosystem. The company has also appointed former Royal Marines officer Vito Tomasi as Managing Director of its newly established subsidiary, Quantum Systems Ltd. UK, as it aims to strengthen its position in the UK defence sector. A former Royal Marines officer with operational deployments in Afghanistan, Tomasi later worked in investment banking at Goldman Sachs and as an investor in deeptech at Speedinvest. "Quantum Systems is here to stay and deepen our investment in the UK. By investing in British talent, infrastructure, and partnerships, and by delivering our proven, battlefield-ready aerial intelligence systems, we will contribute to the UK’s defence priorities and even exceed expectations," said Tomasi. Headquartered near Munich, Quantum Systems has built a reputation as a leader in AI-powered VTOL (vertical take-off and landing) drone systems. Its drones are already in use across defence, emergency response, and industrial markets in Europe and the United States. The company’s expansion into the UK reflects growing European interest in strengthening domestic unmanned systems capabilities amid geopolitical uncertainty and evolving warfare demands.

Czech mental health platform Hedepy has acquired HearMe, a Polish provider focused on workplace mental health support. Active in nine markets across Central and Eastern Europe, Hedepy offers comprehensive services for individuals and businesses and plans to strengthen its position by consolidating the European market and integrating new brands. Founded in 2020, Hedepy is an online psychotherapy platform delivering mental health and psychiatric support to individuals, workplaces, and schools through an app with self-help tools. Within its first years, the company expanded into eight other European countries, including Poland. Lukáš Krčil, CEO and co-founder of Hedepy, commented: We’ve been active in Poland for three years, helping thousands of people, and we now see strong demand from companies in particular. Acquiring HearMe is a strategic step for us. It allows us to specialize further in corporate care, while also offering HearMe’s clients access to our services abroad. These synergies make perfect sense to us. Equally important is that we align on a human level and share the same vision of what modern mental health care should look like, not only in companies. HearMe, also founded in 2020, supports employers and HR teams by providing employees with psychological support through video and chat sessions, webinars, educational resources, and tailored well-being programs. Talks about the transaction began last autumn, with the final agreement reached in the first half of this year. Following the merger, both platforms will operate under the Hedepy brand and expand corporate services under Hedepy for Business, which will include employee therapy, mood tracking, webinars, and educational content. HearMe will enhance these offerings with locally tailored content and improved app functionality. Katarzyna Gryzło, co-founder of HearMe, shared: Merging with Hedepy is a logical step that opens doors to new markets while preserving the personal approach, high expertise, and quick accessibility, that our Polish clients value most. We considered several options but chose Hedepy because we share a similar company culture and a strong commitment to business with purpose. Hedepy plans to replicate the successful Polish model in other markets. Poland was crucial for us as it’s the largest market in our region with a highly developed mental health sector. We also greatly value having Katarzyna and Adam join our team. Adam brings extensive experience in consolidating the CEE market, and Katarzyna has deep expertise in providing corporate mental health care, adds Lukáš Krčil. The company expects to break even by the end of 2025 with a projected GTV of €13 million and is preparing for a new investment round. We are pleased that Hedepy continues to confirm its strong market position and prove it is moving in the right direction. The successful merger with the Polish platform has created a solid foundation for developing corporate services and paves the way for further acquisitions, says Jan Davídek, partner at Purple Ventures, one of Hedepy’s regular investors. Hedepy already leads the online psychotherapy market in Slovakia, Romania, and Greece, and is among the top providers in Slovenia, Hungary, Lithuania, and Ukraine. The platform works with around 1,000 therapists, delivering hundreds of thousands of sessions annually. Looking ahead, Hedepy plans to combine online and in-person care while responsibly integrating artificial intelligence into its services. AI represents a major technological advancement and is increasingly finding its place in mental health care. That makes it all the more important to approach its use thoughtfully and responsibly. This is exactly what we are working on now, says Lukáš Krčil. The acquisition adds over 80 corporate clients and more than 120 professionals, including psychologists, psychotherapists, coaches, nutritionists, and physiotherapists. HearMe’s founders, Adam Radzki and Katarzyna Gryzło, will join Hedepy’s leadership team, with Radzki driving business development in Poland as Head of Sales and Gryzło leading B2B marketing across the group.

I’ve spent a chunk of the past few days at IFA, Germany’s answer to CES and Europe’s biggest consumer electronics show. Once upon a time, this was the stage for breakthroughs like the debut of dual-channel colour TV and the Nintendo 64. These days, though, when it comes to innovation, while whitegood manufacturers excel in advancements in reducing the amount of water and energy required, much of IFA feels like a landfill preview: endless stands of costpointless gadgets destined to become e-waste, with European innovation often drowned out by a wave of Korean and Chinese exhibitors. Still, if you dig past the noise, there are many products that stand out — solutions to real problems, or simply those that delight. Here are some of the European startups that managed to cut through the clutter this year: Hedgehog Dryer (Norway)   Founded in 2019 by a recently widowed father, Bjørn Holte, grappling with the challenges of drying his kids' shoes after playing outdoors, Hedgehog Dryer is a shoe and glove dryer in the form of anultra-compact cordless blower which delivers 162 mph of wind power, stronger than most full-size leaf blowers. Built for campers, hikers, and anyone who loves spending time outside, the Hedgehog JET is a pocket-sized powerhouse that clears pine needles, leaves, and debris from campsites and trailheads, dries off wet boots and tents after a rainy hike, and blows sand or dirt off coolers, chairs, sleeping bags, and backpacks. The rechargeable blower is powered by a 500-watt motor and six high-capacity battery cells. It weighs less than a kilo, it charges via USB-C, and delivers up to 45 minutes of runtime on a single charge. Admittedly, I’m not a fan of noisy leaf blowers, and not much for the great outdoors, but having been faced with trying to dry a pair of trainers in a hotel room with a hairdryer after an unexpected storm in Barcelona resulted in knee-deep water, I can see the value in such a device. Krafted (UK) The Krafted Connex cable adaptor hub tackles a problem most of us know too well — the tangle of different connectors required by our gadgets, especially when travelling. While the industry is slowly moving towards the “one cable for all” dream with USB-C, the reality is that most of us still own a mix of devices that need different connectors. That’s not changing anytime soon. Connex offers a neat, compact solution, featuring a Swiss Army knife-style tool that not only covers the basics of standard charging but also supports PD fast charging and data transfer — features usually reserved for higher-end cables — without the bulk or mess. I want one. L’Atitude 52°N (Germany) Debuting at IFA this year and bagging the Best of IFA Next Innovation Award, L’Atitude 52°N is a Berlin-based smart eyewear brand with glasses that look and feel like your favourite everyday pair while offering hands-free tools for capturing memories, real-time translation, and effortless voice control. Its  Departure collection features three signature models — Berlin | 52°N (edgy navigator), Milan | 45°N (versatile panto), and Antwerp | 51°N (sleek rectangular) — each inspired by the latitude and spirit of its city. The POV camera seamlessly switches between landscape and portrait views, allowing for easy capture of life from any angle. The company is currently crowdfunding on Kickstarter The OOONO CO-DRIVER (Denmark) The CO-DRIVER is a Traffic Safety Device that improves your driving experience by informing you of speed cameras and road hazards on your route. This includes all types of speed cameras in +80 countries. The CO-DRIVER connects millions of drivers and allows them to share traffic information in a single click. The second iteration OOONO CO-DRIVER NO2 is the upgraded version of OOONO’s popular traffic safety device, designed to provide drivers with real-time alerts about speed cameras and road hazards in more than 80 countries. It features a rechargeable USB-C battery, improved audio and visual warnings with a bright LED ring, and seamless integration with Apple CarPlay and Android Auto, allowing alerts and navigation to display directly on the dashboard. A new dismiss button, which lets users remove outdated or incorrect alerts, improves the accuracy of the community-driven database. Built in collaboration with over 10,000 community members who influenced its design, the NO2 offers a smarter, more user-friendly, and sustainable approach to safer driving. SunLED Life Science (Netherlands) Not quite got what you hoped from that Seasonal Affective Disorder-busting sun lamp? SunBooster is the first near-infrared device that brings the systemic health benefits of sunlight indoors. Exposure to near-infrared light is proven to lower resting heart rate and strengthen the immune system. NIR light therapy has multiple additional potential benefits, including for skin and eye health. SunBooster leverages patented SunLED technology based on over five years of internal research and over 50 years of broader photobiomodulation science. It offers a scientifically-proven dose of near-infrared light to users while they work, game or surf the internet – counteracting the negative health effects of insufficient natural light exposure to make people happier and healthier. SunBooster can be clipped onto any external monitor or laptop screen — seamlessly integrating into the user’s workspace – and makes screen time energising instead of draining. SunLED offers a licensing program, letting partners integrate their patented technology into broader solutions. We Are Rewind (France) I’m old enough to have fond memories of boomboxes, and We Are Rewind is a company committed to bringing back the charm of cassette players with the Boombox – GB-001. With an appeal to Gen X nostalgics, music fans and design enthusiasts, the company’s latest boombox offers a refresh on the OG: Think rechargeable batteries, Bluetooth support, and four Hi-fi class loudspeakers. Collaboration with French analogue sound specialists (like ORA) ensures high-quality audio performance laced with modern components. You can plug in a microphone for an instant karaoke party, old school, or electrify a guitar. 

Last week, we tracked more than 60 tech funding deals worth over €1.3 billion, and over 25 exits, M&A transactions, rumours, and related news stories across Europe.Click to read the rest of the news.

This week, we tracked more than 60 tech funding deals worth over €1.3 billion, and over 25 exits, M&A transactions, rumours, and related news stories across Europe. In addition to this week's top financials, we've also indexed the most important/industry-related news items you need to know about. If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox. Either way, let's get you up to speed. ? Notable and big funding rounds ?? Netomnia secures €346.2M ?? IQM raises record $320M Series B to cement Europe’s place in the quantum computing race   ?? Bitcoin treasury company Treasury debuts with €126M funding ??‍?? Noteworthy acquisitions and mergers ?? Aonic completes $250 million+ acquisition of Prime Insights in largest deal to date ?? SeqOne acquires Congenica to create a global leader in AI-powered genomic medicine ?? Zopa buys UK payments infrastructure outfit Rvvup ?? Flowbox acquires Dreaminfluence ?? French startup Cycle joins Atlassian, embedding customer insight tech into Jira ? Interesting moves from investors ? ? More than €1.2 billion raised by EIC Scaling Club members ? Siena Secondary Fund II builds momentum with institutional and founder backing   ? EQT Foundation’s fast-track grant program targets rare disease moonshots ?️ In other (important) news ☀️ Summer chill: European tech funding cools by 66% in August ?? European Tech.eu Pulse: key trends and investment in August ?? Europe’s digital health innovators warn: “unite or fall behind” ? Klarna targets $1.27BN raise in second stab at US IPO ? Recommended reads and listens ?? Dalton raises €1M to turn static websites into self-improving growth engines ? Europe's 10 biggest fintech deals in H1 2025 ?? FERNRIDE bags €18M Series A extension as it expands into defence ? Can algorithms rule better than humans? Sensay Island resurrects Churchill, Gandhi, and Tesla to find out ? European tech startups to watch ?? TrustNXT raises €1.6M pre-seed to fight AI-driven image and video manipulation ?? Driven lands €1.5M to transform sales commissions management ?? RYE raises €1M pre-seed to help hospitality and retail monetise energy demand ?? mypaperwork secures €500,000 to streamline EU work and residence permits ?? Greenvoltis secures new strategic investment to drive AI energy innovation in Europe

Ever wondered if society's predecessors could do a better job of ruling the world? Well, now you can, and it's all thanks to AI.  Sensay Island is a micronation, a privately owned island off the coast of the Philippines (formerly known as Cheron Island), now governed entirely by AI. It has been purchased and renamed by the British AI startup Sensay to experiment in AI-driven governance. I spoke to founder and CEO DanThomson to learn all about it Sensay Island is an actual island located off the coast of the Philippines. Viewable on Google Maps, it spans about 3.4 km² and features beaches, rainforest, and coral lagoons. The team chose the Philippines due to its availability and price. According to Thomson, "the Philippines is underrated compared to places like Thailand, Vietnam, or Bali. It just came up as the right opportunity, and I jumped on it." As a journalist who has written extensively about smart cities over the years, I share Thomson's interest in the notion of building a city-state from scratch.  Thomson sees Sensay Island as a testbed:  "What if governance weren't distorted by lobbying, corruption, or self-interest? Could AI create better systems? " Resurrecting the past to govern the future To form a government, Thomson looked to history.  Sensay Island's digital cabinet draws on a range of philosophical, political, scientific, and cultural luminaries, compiled to bring historical wisdom and ethical depth into governance via AI. Thomson admitted that initially he opted for philosophers, then realised they were "all old, white men."    Currently, the Island's (non) elect are: President (Head of State), Marcus Aurelius Prime Minister: Winston Churchill Foreign Affairs Minister: Eleanor Roosevelt Defence Minister: Sun Tzu Treasury Secretary: Alexander Hamilton Justice Minister: Nelson Mandela Science & Technology Minister: Ada Lovelace Education Minister: Confucius Health Minister: Florence Nightingale Agriculture Minister: George Washington Carver Environment Minister: Wangari Maathai Culture Minister: Leonardo da Vinci Ethics Advisor: Mahatma Gandhi Innovation Advisor: Nikola Tesla Infrastructure Director: Queen Hatshepsut Chief Strategist: Zhuge Liang Intelligence Chief: T. E. Lawrence  Notably, the list excludes anyone from the Philippines, and when I asked Thomson if they would be included, he admitted it's not something he ever thought about.  "It hasn't come up yet, but if a proposal for local figureheads were put forward, I'd support it. We've already debated council members — Churchill even won a vote over Lee Kuan Yew, which shows how democratic (and unpredictable) the system can be. Broadly, I want Sensay to inspire human-centred, transparent, and impactful uses of AI—whether in business, education, or governance. If AI Island proves that AI can improve systems, even in small ways, that's success." So how are decisions made?  Thomson explained that 'e-residents' put forward proposals and the AI government debates and votes on them. "I stay hands-off to minimise bias—it's about seeing what happens when AI governs." According to Thomson, "even becoming a resident starts with a proposal. We already have hundreds, maybe thousands, interested. The point isn't just numbers — it's showing that AI can serve as a think tank or advisory body for governments." From philosophy to digital Immortality: Thomson's journey into AI But what inspired such a project? Thomson's background is in philosophy. He shared: "I studied it at university and ended up writing two books during a quarter-life crisis.  Those books explored digital mortality, mind uploading, and the meaning of life. I thought: we forget people after just two or three generations unless they were famous or successful. What if AI could preserve us? With all the photos, videos, and data we have, we could create versions of ourselves that interact with our great-grandkids. That's the long-term vision—digital immortality." Sensay bets on replicas to humanise digital interactions To be clear, Thomson already has skin in the game. His company Sensay provides an AI-driven platform that enables businesses to create custom AI chatbots, or "digital replicas," powered by advanced AI agents. These chatbots can interact naturally, round-the-clock, based on knowledge sourced from your content— like documents, websites, videos, and audio. The company is currently building products for companies in sales, customer support, tourism boards, and even governments.  But I wanted to really understand what makes for a good virtual human? Thomas contends that replicas are extensions of people, not replacements.  "They should put the humanity back into interactions, not take it out.  For example, I save time every day because my chatbot drafts my emails. Left to myself, I'd send five-word replies, but the AI helps me flesh them out. Done correctly, it's seamless and accurate to me." According to Thomson, it's all about good data and contextual awareness.  "The AI needs to know who it's talking to, whether it's on email, Twitter, or chat, and adjust tone and style. Adding voice and video makes it even more realistic.  We think of it as an "AI brain" that ingests data — text, voice, video, style — then layers on reasoning, situational awareness, knowledge retrieval, and personality before generating interactions. Training is the hard part, so we're making that as seamless as possible. We've even built hallucination checkers to keep accuracy very high." The company has created numerous demos — such as the one featuring George Clooney for Nespresso — to demonstrate to brands how they can utilise ambassadors. Its experimented across healthcare, education, gaming, and tourism, but its focus is now B2B.  An example is the replication of CEOs or sales leads so customers can connect with them in the buying process. There's also a strong interest in HR. Sensay's head of HR replica interviewed 50,000 people for various job applicants — applicants start by speaking to the chatbot, which filters based on criteria before moving them to formal applications. According to Thomson, "it weeds out people who don't even read job descriptions." That said, I was curious how the problem of bias in AI decision-making is factored in when it comes to Sensay Island. Thomas admits it's the biggest challenge: "LLMs naturally filter out parts of humanity — they won't swear, they avoid controversial topics. But humanity isn't clean-cut. People often identify with aspects of various ideologies, including those with problematic elements. We don't want an "AI Hitler," obviously, but neither do we want a left-wing utopia. Striking a balance is key. We've worked on balancing perspectives, avoiding extremes but still capturing human diversity. We've also developed a charter drafted by AI, which the AI government then debates and refines. It's not perfect, but it's about testing whether AI governance can be more efficient or fair than humans alone." Living laboratories or libertarian playgrounds? Sensay Island is an actual place — although "right now it's basically one hut and a caretaker named Mike," admits Thomson, who suggests that in time they might migrate to a more autonomous location or expand elsewhere — not some kind of Web3 virtual reality.   Further, manufactured cities are hardly a new idea. Entrepreneurs worldwide have been securing land to build them as testbeds for reimagining governance, sustainability, and economic growth, often sidestepping traditional public-sector constraints: There's Songdo in South Korea, home to over 160,000 residents. And soon we might finally see  Woven City, in action: The brainchild of Toyota, Woven City is a purpose-built "living laboratory" at the base of Mt Fuji, designed to test and refine innovative technologies in a real-world urban setting — the official phase 1 launch planned for autumn 2025, with the first 100 residents moving in soon after. Then there's NEOM, the planned mega-city in northwest Saudi Arabia, launched by Crown Prince Mohammed bin Salman in October 2017 as part of the country's Vision 2030, aimed at diversifying away from oil dependency. The project spans 26,500 km² and plans for multiple renewable energy-powered themed regions, including futuristic urban hubs, industrial zones, tourism and leisure resorts, and digitally driven communities. That said, beyond the glitz and CGI-generated videos, only about 2.5 km of The Line is under construction, with plans significantly scaled back: housing targets dropped from 1.5 million to around 300,000 residents by 2030.  Additionally, in the US, VC-backed tech entrepreneurs have purchased land to create their own manufactured towns or cities, such as Belmont, Telosa, and California Forever. It all sounds promising in theory, until it doesn't. Last year, Trump proposed building up to ten new master-planned cities on federal land across the United States.  These deregulated zones — granted broad "regulatory relief"— could be exempt from major federal laws such as the Internal Revenue Code, the Clean Water Act, the Endangered Species Act, the Fair Labour Standards Act, and OSHA. Supporters envision each city serving as a dedicated hub for industries such as semiconductors, defence, biotechnology, or nuclear power, operating without the need for prior approval from agencies like the FDA or EPA. Should these testbeds trump (yeah, excuse the pun) labour rights and environmental protection?  An AI island without internet? Sensay’s bold governance experiment collides with the Philippines’ digital divide Placing the issues around manufacturing cities and unregulated testbeds in the context of Sensay Island, it's hard not to connect them to the harsh reality of life in the Philippines – a place with low digital literacy and poor internet access. It's something that startup teks is working to address. CEO and co-founder Livia Dolle previously told me: "The internet penetration rate is just 1.8 per cent per year. Satellite internet options like Starlink exist, but remain unaffordable for most users. Many NGOs try to provide connectivity, but they fund it for a year and leave, making it unsustainable." Thomson concedes that while not everyone can afford Starlink or has reliable connections. "But AI replicas could help democratise access. Imagine replicating world-class professors and making them accessible to kids in remote areas. Suddenly, someone who could never attend Oxford or Cambridge gets that knowledge. There are cultural barriers — lawyers and educators can be protective of expertise — but the potential impact is huge." To be clear, I believe Thomson has good intentions, and the initiative has captured public interest. Interested people can apply for citizenship. According to Thomson, so far, interest has been in the hundreds, if not thousands, of people.  "The point is less about numbers and more about showing governments that AI can be used as a think tank or advisory body for decision-making." Observer visas are slated to open mid-2026 for visitors to Sensay Island, with research residencies and permanent citizenship following in stages.

Dutch startup TracXon has secured €4.75 million in seed funding to industrialise its hybrid printed electronics (HPE) technology, aiming to replace traditional printed circuit boards (PCBs) with more flexible and environmentally sustainable alternatives. The round was led by Invest-NL’s Deep Tech Fonds, contributing €2 million, alongside investments from DeepTechXL and the Brabantse Ontwikkelings Maatschappij (BOM). Founded in 2022 and spun out of research institute TNO, TracXon has developed a roll-to-roll (R2R) manufacturing process that prints electronics directly onto flexible and recyclable films. The process eliminates the need for copper, solder, or toxic chemicals, key components in conventional PCB production. “TracXon is bringing about a fundamental change in electronics manufacturing. From traditional and polluting to efficient and sustainable,” said Ashok Sridhar, Co-founder and CEO of TracXon. “This investment round brings us closer to our goal of replacing at least 10% of PCBs with our HPE technology by 2033.” “This represents approximately €15 billion worth of circuits per year. Our technology is a huge step towards ‘ubiquitous electronics’ – electronics that are all around us – in a socially responsible way.” The startup’s flagship product is the R2R VIA Printer, a machine designed to print double-sided electronic circuits at scale. The company plans to roll out the first commercial units by mid-2027, using the new capital to scale production and build out custom equipment to reduce costs and carbon emissions by as much as 80 percent, according to internal estimates. PCBs are a cornerstone of modern electronics, but their manufacture is resource-intensive and polluting. The global PCB market is projected to reach over €150 billion by 2030, driven by growth in IoT, MedTech, automotive, and consumer electronics, all sectors TracXon is actively targeting. The demand for lighter, thinner, and more versatile electronics is also on the rise, especially in areas like wearable biosensors, flexible displays, and embedded smart surfaces. “TracXon’s technology opens doors to applications that were previously unimaginable. Think of medical plasters with integrated biosensors or smart, interactive surfaces in cars,” said Liz Duijves, Investment Manager at Invest-NL. “The fact that their technology is also much more sustainable than traditional electronics makes us, as Deep Tech Fonds, not only proud but also hopeful about where the industry can go.” Despite being in early stages, TracXon has already attracted over 20 co-development partners and customers from more than 10 countries. By offering printed electronics as a service, it allows clients to integrate next-gen tech into their products without investing in expensive production infrastructure. The funding follows a broader push in the Netherlands to boost deep tech startups. Initiatives such as the collaboration between TNO, Techleap, and Invest-NL are building a national support system for high-impact, high-tech innovation. “We are proud of this achievement. TracXon is a good example of how TNO innovations can grow into impactful companies,” said Hans Boumans, director of TNO Ventures. “TNO invests in technologies that create a better world, and TracXon contributes directly to a more sustainable future by fundamentally changing how electronics are produced.”

Payments giant Stripe has teamed up with a Silicon Valley crypto firm to launch a blockchain firm geared to improving stablecoin payments- and has already signed up European firms Revolut and Deutsche Bank as partners. Stripe, founded by two Irish entrepreneur brothers and which is dual-headquartered in Dublin and San Francisco, is launching Tempo with crypto outfit Paradigm. The launch of Tempo comes amid a crypto bounce, helped by a pro-crypto Trump government and mainstream banks trying out blockchain technology as well as big brands embracing stablecoin payments, which are types of crypto backed by assets seen as reliable, like the dollar. Stripe co-founder Patrick Collison explained the rationale behind Tempo in a post on X, saying that existing blockchains were not “optimized” for Stripe, Stripe-owned crypto wallet Privy and Stripe-owned stablecoin platform Bridge.Tempo is what is called a layer 1 blockchain, which is the main network of a blockchain, where core functions like transactions occur. Other layer 1 blockchains include Bitcoin and Ethereum. Collison said: "We think of Tempo as the payments-oriented L1, optimized for high-scale, real-world financial services applications.” Collison said Tempo was geared towards improving payment acceptance, global payouts, remittances, microtransactions, tokenised deposits, and agentic payments. Tempo is independent of Stripe, but has Stripe and Paradigm as its first investors. The venture will likely benefit from the customer base of Stripe, which includes half of the Fortune 500 and which processed over $1tn in payments in 2024.Tempo’s partners include Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa, said Collison. The Tempo team is 15-strong.

Barcelona-based Adsmurai announced the completion of this strategic transaction with Seaya, a pan-European venture capital and private equity firm specialising in scaling sustainable, high-growth technology companies. Through its Andromeda fund, Seaya acquired a minority stake, while Adsmurai’s founders and management remain majority shareholders, retaining leadership in strategic and operational roles. This partnership marks a key step in Adsmurai’s growth, boosting AI investment and enabling global expansion. Marc Elena, CEO and co-founder of Adsmurai, commented: This alliance allows us to consolidate our growth trajectory and accelerate our international expansion, with Artificial Intelligence as the driving force behind our proposal. Seaya’s investment validates Adsmurai’s business model and reinforces its potential in marketing technology and analytics. With Seaya’s global network and expertise, Adsmurai is set to accelerate development, expand internationally, and strengthen its position in the digital advertising ecosystem. Carlos Fisch, Partner at Seaya, added:  We are very excited to join forces with Marc and Otto to accompany Adsmurai in this new stage of growth, a company with a unique vision and proprietary technology that is already redefining the future of digital marketing, led by an exceptional team. Adsmurai has shown strong momentum, surpassing €100 million in revenue in 2024 and projecting €140 million by 2025. Its ambitious plan targets €400 million by 2029 through both organic and inorganic growth. With 450+ employees driving innovation, the company now benefits from Seaya’s network to accelerate expansion and product development. Trusted by brands such as Wilson, Unilever, Henkel, Mango, and UNICEF, Adsmurai has consolidated its position as a key partner across industries.  Zero Loop: a strategy driven by AI At the heart of this new phase, Adsmurai introduces Zero Loop, a conversational AI assistant integrated with internal infrastructure in a private environment. It automates complex tasks by combining generative AI with business data and tools, delivering actionable insights and freeing teams to focus on strategy and creativity. Zero Loop ensures data security through self-hosted models and customer control, with the option to connect to providers like OpenAI, Anthropic, Google Gemini, or xAI while maintaining full traceability, routing control, data residency, and compliance with regulations including GDPR. It also incorporates advanced features such as video generation from images via VEO3, offering style, resolution, and duration options to accelerate creative production under strict security and control standards.