Venture capital firm Acurio Ventures today announced the closing of Acurio Secondaries I FCR, an innovative European fund with a size of approximately €115 million that invests exclusively in fund-level secondary transactions involving European VC funds.  With this new vehicle announced today, Acurio Ventures now has assets under management exceeding €450 million, spread across five investment vehicles focused on technology in Europe, three dedicated to direct investment in startups and two focused on investment in VC funds.  The private equity market, and particularly the VC segment, faces an environment characterised by limited liquidity, a challenge that Acurio Ventures aims to address with its new fund.  Secondary transactions have emerged over the past decade as a complementary exit mechanism to traditional IPOs and mergers and acquisitions. Accordingly, 2025 was the largest year on record for secondaries, with global investment volumes exceeding US$200 billion.  However, unlike other private equity segments (buyouts, middle market, etc.), secondary activity in funds in the VC space, particularly in Europe, remains at a very early stage and is driven mainly by large United States managers with billions of assets under management.  This new Acurio vehicle seeks to capitalise on an opportunity in a nascent market with substantial room for growth, focusing exclusively on European VC funds and on an underserved market segment of transactions below €20 million. The new vehicle aims to be fully invested within 18-24 months, focusing on mature early-stage VC funds, namely those 8+ years into their terms, with well-defined portfolios with clearly identified value drivers and realistic exit plans within two to three years. The objective is to achieve a net multiple of at least 2x invested capital for investors, with internal rates of return (IRRs) above 25 per cent.  The new fund already has a meaningful portfolio, having committed close to €45 million to date.  "We are extremely grateful for the trust placed in us by our investors, both new and returning. Successfully launching a new fund of this nature in such a difficult fundraising market for VC, and doing so with a 100 per cent private investor base that includes prestigious institutional investors, is a milestone and a validation that reinforces the strategy we have been pursuing," said Diego Recondo, Partner at Acurio Ventures.  In addition to its investment strategy in European VC funds, Acurio Ventures has three other vehicles dedicated to direct investment in European seed and series A startups.  The latest of these, Acurio Ventures III, closed in 2024 above €150 million and is still in its investment period, currently holding a portfolio of more than 40 companies.  The firm has invested in approximately 120 startups and 20 VC funds to date, and its direct portfolio includes established scaleups such as Seedtag, Voy, Preply, Jobandtalent, Indexa Capital, Lingokids and Refurbed.

Helsing, Europe's leading defence AI company, today announces it has raised $1.8 billion in a Series E, valuing the company at US$18 billion.New and existing investors participated in the round, including Dragoneer Investment Group, Lightspeed Venture Partners, Disruptive, Iconiq, Growth Equity at Goldman Sachs Alternatives, JPMorganChase, Canada Pension Plan Investment Board (CPP Investments), General Catalyst, Plural, and Stepstone.Investor demand significantly exceeded the available allocation, reflecting strong and growing confidence in AI-driven and software-defined defence technology. The company remains predominantly European-owned, underscoring its deep roots in Europe.The Board of Helsing remains unchanged with Co-Chairmen Daniel Ek and Tom Enders, and members Jeannette zu Fürstenberg and Denis Mercier, alongside the company's founders. Helsing develops AI software and autonomous systems for military and national security applications. Founded in 2021, the company builds software that combines data from drones, radar, satellites, cameras and other sensors into a single real-time operational picture, helping armed forces detect threats, track targets and make faster, more informed decisions. Rather than replacing human operators, its AI is designed to support commanders by processing large volumes of battlefield data and integrating with existing military platforms from multiple manufacturers. In recent years, Helsing has expanded beyond software into autonomous defence systems, including AI-powered strike drones capable of operating in GPS-denied and electronically contested environments, as well as underwater surveillance technologies for protecting critical infrastructure and monitoring maritime activity. Working with governments and defence organisations across Europe, the company focuses on providing the AI infrastructure that enables military forces to deploy autonomous systems, improve situational awareness and increase operational effectiveness while keeping humans responsible for key decisions. This latest investment will accelerate Helsing's mission to develop and integrate entirely new AI platforms into the defence capabilities of its growing number of partner nations. Helsing's existing investors include Prima Materia, Accel, and Greenoaks.

Helsing, Europe's leading defence AI company, today announces it has raised $1.8 billion in a Series E, valuing the company at US$18 billion.New and existing investors participated in the round, including Dragoneer Investment Group, Lightspeed Venture Partners, Disruptive, Iconiq, Growth Equity at Goldman Sachs Alternatives, JPMorganChase, Canada Pension Plan Investment Board (CPP Investments), General Catalyst, Plural, and Stepstone.Investor demand significantly exceeded the available allocation, reflecting strong and growing confidence in AI-driven and software-defined defence technology. The company remains predominantly European-owned, underscoring its deep roots in Europe.The Board of Helsing remains unchanged with Co-Chairmen Daniel Ek and Tom Enders, and members Jeannette zu Fürstenberg and Denis Mercier, alongside the company's founders. Helsing develops AI software and autonomous systems for military and national security applications. Founded in 2021, the company builds software that combines data from drones, radar, satellites, cameras and other sensors into a single real-time operational picture, helping armed forces detect threats, track targets and make faster, more informed decisions. Rather than replacing human operators, its AI is designed to support commanders by processing large volumes of battlefield data and integrating with existing military platforms from multiple manufacturers. In recent years, Helsing has expanded beyond software into autonomous defence systems, including AI-powered strike drones capable of operating in GPS-denied and electronically contested environments, as well as underwater surveillance technologies for protecting critical infrastructure and monitoring maritime activity. Working with governments and defence organisations across Europe, the company focuses on providing the AI infrastructure that enables military forces to deploy autonomous systems, improve situational awareness and increase operational effectiveness while keeping humans responsible for key decisions. This latest investment will accelerate Helsing's mission to develop and integrate entirely new AI platforms into the defence capabilities of its growing number of partner nations. Helsing's existing investors include Prima Materia, Accel, and Greenoaks.

Doctorsa, a platform connecting travellers with doctors across 40 countries worldwide, has raised €1 million in funding. PranaVentures led the investment, which also saw participation from Vento and 40Jemz Ventures. Founded in Milan by Nadia Neytcheva and Francesco Maria Serino and operating under the Doctorsa brand since 2023, the platform has already supported over 250,000 travellers in three years via its 24/7 digital healthcare assistance service. The platform provides users with instant access to a network of over 550 doctors across 40 countries, offering video consultations, clinical advice and, where appropriate, prescriptions. Rather than relying on subscriptions, users simply describe their symptoms on the platform and are typically matched with a doctor within 5 minutes. Consultations take place immediately via video call in English, with competitive pricing starting from €20. Through this model, Doctorsa addresses the urgent-care segment of digital health, specifically tailored to the needs of international travellers. Against the backdrop of rapid growth in agentic commerce within the travel sector, Doctorsa is introducing agentic AI solutions to healthcare. The company has developed a proprietary Agentic Booking infrastructure built on open-standard interfaces, allowing users to request and book medical consultations directly through their preferred AI assistant while retaining full control over the booking process. "Healthcare has spent decades asking people to adapt to its processes. We think it's time the system adapted to people instead," said Nadia Neytcheva, CEO of Doctorsa. "Our goal is to make fast access to a trusted doctor a seamless part of every travel experience, not something people have to scramble for when things go wrong.  Our growth shows that travellers value transparency, speed, and choice, even in a sector that has traditionally put consumers second. With PranaVentures' backing, we're ready to accelerate the adoption of this model through partnerships with travel companies, insurers, employers and global platforms.” "Doctorsa sits at the intersection of several powerful long-term trends: the continued growth of international travel, the rapid adoption of telemedicine and rising demand for accessible, immediate digital healthcare services, said Sergio Scalzi, Investment Manager at PranaVentures. "In just a few years, the team has demonstrated strong execution capabilities, building a scalable platform with a distinctive international positioning. With this investment, we are strengthening our commitment to the Future of Health, a vertical with significant opportunities for innovation and long-term value creation”. The capital raised through PranaVentures' first fund, combined with the firm's operational support, will enable Doctorsa to strengthen its position in existing markets and accelerate its international expansion. A key focus will be the United States, where US citizens already account for approximately 40 per cent of the platform's patients. The company will also roll out its B2B offering for travel operators, insurance companies, and businesses looking to integrate global digital healthcare services into their customer offerings or employee welfare programmes.

Doctorsa, a platform connecting travellers with doctors across 40 countries worldwide, has raised €1 million in funding. PranaVentures led the investment, which also saw participation from Vento and 40Jemz Ventures. Founded in Milan by Nadia Neytcheva and Francesco Maria Serino and operating under the Doctorsa brand since 2023, the platform has already supported over 250,000 travellers in three years via its 24/7 digital healthcare assistance service. The platform provides users with instant access to a network of over 550 doctors across 40 countries, offering video consultations, clinical advice and, where appropriate, prescriptions. Rather than relying on subscriptions, users simply describe their symptoms on the platform and are typically matched with a doctor within 5 minutes. Consultations take place immediately via video call in English, with competitive pricing starting from €20. Through this model, Doctorsa addresses the urgent-care segment of digital health, specifically tailored to the needs of international travellers. Against the backdrop of rapid growth in agentic commerce within the travel sector, Doctorsa is introducing agentic AI solutions to healthcare. The company has developed a proprietary Agentic Booking infrastructure built on open-standard interfaces, allowing users to request and book medical consultations directly through their preferred AI assistant while retaining full control over the booking process. "Healthcare has spent decades asking people to adapt to its processes. We think it's time the system adapted to people instead," said Nadia Neytcheva, CEO of Doctorsa. "Our goal is to make fast access to a trusted doctor a seamless part of every travel experience, not something people have to scramble for when things go wrong.  Our growth shows that travellers value transparency, speed, and choice, even in a sector that has traditionally put consumers second. With PranaVentures' backing, we're ready to accelerate the adoption of this model through partnerships with travel companies, insurers, employers and global platforms.” "Doctorsa sits at the intersection of several powerful long-term trends: the continued growth of international travel, the rapid adoption of telemedicine and rising demand for accessible, immediate digital healthcare services, said Sergio Scalzi, Investment Manager at PranaVentures. "In just a few years, the team has demonstrated strong execution capabilities, building a scalable platform with a distinctive international positioning. With this investment, we are strengthening our commitment to the Future of Health, a vertical with significant opportunities for innovation and long-term value creation”. The capital raised through PranaVentures' first fund, combined with the firm's operational support, will enable Doctorsa to strengthen its position in existing markets and accelerate its international expansion. A key focus will be the United States, where US citizens already account for approximately 40 per cent of the platform's patients. The company will also roll out its B2B offering for travel operators, insurance companies, and businesses looking to integrate global digital healthcare services into their customer offerings or employee welfare programmes.

Revolut plans to begin operating its US bank next year, says its new US boss, and is gearing up to offer customers FDIC-insured deposits, credit products, and access to cryptocurrencies. Revolut, Europe’s most valuable private company, valued at $75bn, applied for a US banking licence in March this year, as it looks to rapidly expand in the world’s biggest economy. Positive signs While Revolut is still awaiting a decision on its licence submission from US regulators, sources close to Revolut say the neobank is confident it will be successful. They cite two reasons for this: one, Revolut is working closely with the relevant regulatory bodies, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), through the process. Secondly, the current US regulatory environment, under President Trump, is looking more favourably on new banking licence approvals. Revolut's new US CEO, former Visa executive and US CEO of German digital bank Raisin, Cetin Duransoy, appointed in March this year, says Revolut will launch its bank in the US in 2027, which will be headquartered in Stamford, Connecticut. The Revolut US offer Revolut, which launched in the US in 2020, currently offers US customers services including pre-paid cards, multi-currency accounts, international transfers and remittances. Its services are offered through partner banks. Winning a licence will allow Revolut, which has over 75m retail customers globally, to go it alone and present new revenue streams. In an email interview, Duransoy says Revolut is gearing up to offer FDIC-insured deposits, loans, credit cards, as well as access to stablecoins and cryptocurrencies to its US customers. The US is a largely credit-driven market, so Revolut will be able to benefit from credit interchange fees to potentially offer customers travel perks and other perks. Another advantage of the licence, says Duransoy, is that Revolut “will also be able to go to market faster, providing customers with the most up-to-date products and technology”. Spurring growth Many of Revolut’s existing US customers- over one million retail and tens of thousands of business customers- have experienced Revolut in other markets, be it Europe, Asia or South America. Revolut has earmarked a $500m spend on US expansion (across capital, people and marketing). It is hoped this spend, coupled with the cachet of the licence, will spur growth. Revolut will initially target retail and business customers wanting multiple currencies, with Revolut offering services in more than 30 currencies, such as dollars or Latin American currencies. In the US, where Revolut employs more than 100 people and where it also has an office in New York, customers will have access to ATM networks, but Revolut will not have any branches. Marketing offensive In 2024, Revolut co-founder and CEO Nik Storonsky told Harry Stebbings’ 20VC podcast “not yet” when asked if the Revolut brand was strong in the US. He said: “But we will get there as soon as we get a banking licence in the US. I think we can get where we are in Europe in the US.” Revolut has made a significant play to get its brand visible in the US of late. As well as offering free subway rides to new New York customers, it also inked a high-profile Formula One sponsorship deal with Audi for the 2026 season. But it's tussling with the dilemma of shifting the perception of its brand from edgy startup to a brand that feels as trusted as traditional banks, without wanting to lose what made it successful in the first place. Competition Revolut, which won its long-awaited UK banking licence earlier this year, is unlikely to have its own way in the US. Another UK-headquartered challenger bank, Monzo, retreated from the US this year, as previously did German challenger bank N26. The US is also a patchwork of regulations and rules, and Revolut is going up against a quartet of banking giants, JPMorgan Chase, Bank of America, Wells Fargo and Citigroup, boasting sleek digital offerings. Then there are well-funded domestic challenger banks like SoFi and Chime, while overseas challengers like Wise, Nubank and Bunq are also now making their US plays. Duransoy says: “What we believe, however, is that Revolut offers a genuinely different proposition. For Americans with international ties, frequent travellers, and the underserved, that is a compelling offer that no one else can match at our scale.”

Revolut plans to begin operating its US bank next year, says its new US boss, and is gearing up to offer customers FDIC-insured deposits, credit products, and access to cryptocurrencies. Revolut, Europe’s most valuable private company, valued at $75bn, applied for a US banking licence in March this year, as it looks to rapidly expand in the world’s biggest economy. Positive signs While Revolut is still awaiting a decision on its licence submission from US regulators, sources close to Revolut say the neobank is confident it will be successful. They cite two reasons for this: one, Revolut is working closely with the relevant regulatory bodies, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), through the process. Secondly, the current US regulatory environment, under President Trump, is looking more favourably on new banking licence approvals. Revolut's new US CEO, former Visa executive and US CEO of German digital bank Raisin, Cetin Duransoy, appointed in March this year, says Revolut will launch its bank in the US in 2027, which will be headquartered in Stamford, Connecticut. The Revolut US offer Revolut, which launched in the US in 2020, currently offers US customers services including pre-paid cards, multi-currency accounts, international transfers and remittances. Its services are offered through partner banks. Winning a licence will allow Revolut, which has over 75m retail customers globally, to go it alone and present new revenue streams. In an email interview, Duransoy says Revolut is gearing up to offer FDIC-insured deposits, loans, credit cards, as well as access to stablecoins and cryptocurrencies to its US customers. The US is a largely credit-driven market, so Revolut will be able to benefit from credit interchange fees to potentially offer customers travel perks and other perks. Another advantage of the licence, says Duransoy, is that Revolut “will also be able to go to market faster, providing customers with the most up-to-date products and technology”. Spurring growth Many of Revolut’s existing US customers- over one million retail and tens of thousands of business customers- have experienced Revolut in other markets, be it Europe, Asia or South America. Revolut has earmarked a $500m spend on US expansion (across capital, people and marketing). It is hoped this spend, coupled with the cachet of the licence, will spur growth. Revolut will initially target retail and business customers wanting multiple currencies, with Revolut offering services in more than 30 currencies, such as dollars or Latin American currencies. In the US, where Revolut employs more than 100 people and where it also has an office in New York, customers will have access to ATM networks, but Revolut will not have any branches. Marketing offensive In 2024, Revolut co-founder and CEO Nik Storonsky told Harry Stebbings’ 20VC podcast “not yet” when asked if the Revolut brand was strong in the US. He said: “But we will get there as soon as we get a banking licence in the US. I think we can get where we are in Europe in the US.” Revolut has made a significant play to get its brand visible in the US of late. As well as offering free subway rides to new New York customers, it also inked a high-profile Formula One sponsorship deal with Audi for the 2026 season. But it's tussling with the dilemma of shifting the perception of its brand from edgy startup to a brand that feels as trusted as traditional banks, without wanting to lose what made it successful in the first place. Competition Revolut, which won its long-awaited UK banking licence earlier this year, is unlikely to have its own way in the US. Another UK-headquartered challenger bank, Monzo, retreated from the US this year, as previously did German challenger bank N26. The US is also a patchwork of regulations and rules, and Revolut is going up against a quartet of banking giants, JPMorgan Chase, Bank of America, Wells Fargo and Citigroup, boasting sleek digital offerings. Then there are well-funded domestic challenger banks like SoFi and Chime, while overseas challengers like Wise, Nubank and Bunq are also now making their US plays. Duransoy says: “What we believe, however, is that Revolut offers a genuinely different proposition. For Americans with international ties, frequent travellers, and the underserved, that is a compelling offer that no one else can match at our scale.”

Last week, we tracked more than 70 tech funding deals worth over €2.8 billion and over 5 exits, M&A transactions, rumours, and related news stories across Europe. ? The top three industries that raised the most were clouds (€790.8 million), fintech (€660 million), and energy (€471.4 million). At the country level, ?? the UK took first place (€1.7 billion), followed by ?? Germany (€511.9 million) and ?? France (€258.4 million). ❗ Be sure to check out the Tech.eu Funding Explorer, free and open to everyone, for deeper insights into funding data, investor activity, company profiles, and market trends. Now, let's get you up to speed on everything that happened last week. Have a great week! Funding deals by amount UK: Hyperscaler Nscale secures £670M credit facility UK: Lendable raises $670M for global expansion GERMANY: Largest European fusion investment on record sees Proxima Fusion raise €411M FRANCE: Skello secures €200M to grow its AI tools for frontline workforce management UK: Maritime defence startup Kraken Technology hits unicorn status after $175M raise LITHUANIA: Oxylabs ends bootstrapped streak after securing €113.6M at €3.1B valuation PORTUGAL: BIZAY secures $55M to fuel US growth and industry consolidation UK: Thought Machine lands $40M funding from bank, surpasses $100M in annual revenue GERMANY: UniCredit and KfW have granted Andercore a revolving credit facility of €30M UK: Alchemab Therapeutics extends Series A with £25M investment FRANCE: Nvidia backs voice AI startup Gradium, bringing seed round to over $100M ITALY: Young Group completes €22.5M funding round UK: Fleek secures $25M to digitise secondhand fashion UK: 'Virtual power plant' firm Axle Energy raises £20M SPAIN: Catalyxx wins €20M+ EU backing for first commercial chemicals plant BELGIUM: e-peas secures €19.2M to scale ultra-low-power energy harvesting and power management solutions GERMANY: Stenon closes a €18M Series B investment NETHERLANDS: The Protein Brewery closes €18M Series B extension funding UK: AI robotics group Dogtooth scores £14M investment SPAIN: Sherpa.ai raises $18M to support data-sovereign AI development GERMANY: Chip testing startup QuantumDiamonds raises €15M in equity funding SPAIN: Axis will invest up to €15M in Qida to drive the transformation of the care model in Spain UK: HIVE secures £11.2M to build ‘silicon brain’ for industrial machines FINLAND: CurifyLabs bags €12M to automate personalised medicine UK: Marker, AI writing startup co-founded by DeepMind creative lead, raises $13M seed investment FRANCE: Bohr Energie secures €10M to scale its AI-powered renewable energy aggregation platform GERMANY: Fuchs & Eule secures €10M investment UK: Luffy secures £8.1M to scale real-time adaptive control technology BELGIUM: Polysense raises $10.7M to scale AI quality control for food manufacturers UK: Worldmodeldata lands £7M to turn gaming data into AI training GERMANY: alqem has raised €8M in pre-seed funding UK: Kord secures £6.4M to unify onboarding, compliance and payments SPAIN: InsectBiotech raises €7.2M to boost the conversion of agricultural waste FRANCE: Aria raises €7M in Series A extension funding UK: Pixel-Flo lands £5.25M seed round for MicroLED manufacturing UK: Whering lands $7M as digital wardrobe platform reaches 10M users FRANCE: Naaia raises €6M to help companies comply with the AI Act UK: Battery materials startup TaiSan founded by chess champion, raises £4.65M TURKEY: Mobile game company Bold Games has received a $6M investment NETHERLANDS: Whispp raises €5M to scale on-device voice reconstruction AI technology globally NETHERLANDS: Aardaia bags €5M to build the next generation of crops FRANCE: En Carta Diagnostics raises €5M to bring at-home molecular tests for Lyme disease and STIs to market SWITZERLAND: Aylight closes €4.5M pre-seed round to advance optical interconnect technology FRANCE: Panora bags $5M to modernise insurance brokerage across Europe GERMANY: ARC Intelligence raises €4M to scale its AI-native finance platform GERMANY: FENKA Robotics receives a €3M debt capital SPAIN: Balance, the technological platform for the comprehensive treatment of obesity, raises €3M GERMANY: Y Combinator-backed startup Finto raises $3.4M, says chose Munich over Silicon Valley GERMANY: Birdsview takes flight with €2.5M seed to scale Avys, its AI email marketing agent for online shops GERMANY: Porelio secures €2.4M to scale industrial water treatment materials UKRAINE: Dropla Tech receives €2.4M venture capital funding round UK: Stoa secures $2.4M for cash rewards platform GERMANY: Workforce management startup Sherpa raises $2.2M pre-seed GERMANY: Tentris receives €925,000 investment POLAND: Edge AI startup CTHINGS.CO raises €1.8M to power US expansion GERMANY: Unnamed investors invest €1.7M in Skillcourt SWITZERLAND: Treeless secures €1.3M to advance treeless biofabricated materials for industry GERMANY: Auxilius raises €1.3M pre-seed to automate enterprise compliance UK: Respiro Diagnostics secures £1M to advance lung diagnostics UK: Gyre Energy raises $1.3M to cut industrial cooling costs with AI and thermal storage SPAIN: 8Layers extends pre-seed round to €2.5M total funding ESTONIA: Display.dev raises €470,000 to power document collaboration for AI agents SPAIN: Sodena provides €250,000 in funding to the Navarrese company Muxunav SWITZERLAND: Rhonexum receives €163,000 from Venture Kick SWITZERLAND: Fragrance giant Givaudan backs ETH spin-off Microcaps GERMANY: reverse.fashion bags seven-figure funding to scale textile sorting BELGIUM: BrightAnalytic receives investment from PSG Equity GERMANY: Inven Capital and others are investing another seven-figure sum in Vytal GERMANY: butterfly & elephant is investing an undisclosed sum in Additive Marking AUSTRIA: Propcorn receives a six-figure sum investment Exits and M&A activity PORTUGAL: Tekever acquires Cloudsweep and reinforces its commitment to artificial intelligence FRANCE: Unchaind snapped up by Rocapine after reaching €875K ARR GERMANY: Berlin-based package holiday startup Tourlane is acquiring Lambus IRELAND: Wayflyer acquires Conjura SWITZERLAND: Banyan Software takes over a majority stake in Geneva-based Fintech WIZE DENMARK: The software company Omnidocs is acquiring the Danish IT company Xink NETHERLANDS: Munich-based vacation rental scale-up Holidu is acquiring the Dutch vacation rental service Gites.com

Last week, we tracked more than 70 tech funding deals worth over €2.8 billion and over 5 exits, M&A transactions, rumours, and related news stories across Europe. ? The top three industries that raised the most were clouds (€790.8 million), fintech (€660 million), and energy (€471.4 million). At the country level, ?? the UK took first place (€1.7 billion), followed by ?? Germany (€511.9 million) and ?? France (€258.4 million). ❗ Be sure to check out the Tech.eu Funding Explorer, free and open to everyone, for deeper insights into funding data, investor activity, company profiles, and market trends. Now, let's get you up to speed on everything that happened last week. Have a great week! Funding deals by amount UK: Hyperscaler Nscale secures £670M credit facility UK: Lendable raises $670M for global expansion GERMANY: Largest European fusion investment on record sees Proxima Fusion raise €411M FRANCE: Skello secures €200M to grow its AI tools for frontline workforce management UK: Maritime defence startup Kraken Technology hits unicorn status after $175M raise LITHUANIA: Oxylabs ends bootstrapped streak after securing €113.6M at €3.1B valuation PORTUGAL: BIZAY secures $55M to fuel US growth and industry consolidation UK: Thought Machine lands $40M funding from bank, surpasses $100M in annual revenue GERMANY: UniCredit and KfW have granted Andercore a revolving credit facility of €30M UK: Alchemab Therapeutics extends Series A with £25M investment FRANCE: Nvidia backs voice AI startup Gradium, bringing seed round to over $100M ITALY: Young Group completes €22.5M funding round UK: Fleek secures $25M to digitise secondhand fashion UK: 'Virtual power plant' firm Axle Energy raises £20M SPAIN: Catalyxx wins €20M+ EU backing for first commercial chemicals plant BELGIUM: e-peas secures €19.2M to scale ultra-low-power energy harvesting and power management solutions GERMANY: Stenon closes a €18M Series B investment NETHERLANDS: The Protein Brewery closes €18M Series B extension funding UK: AI robotics group Dogtooth scores £14M investment SPAIN: Sherpa.ai raises $18M to support data-sovereign AI development GERMANY: Chip testing startup QuantumDiamonds raises €15M in equity funding SPAIN: Axis will invest up to €15M in Qida to drive the transformation of the care model in Spain UK: HIVE secures £11.2M to build ‘silicon brain’ for industrial machines FINLAND: CurifyLabs bags €12M to automate personalised medicine UK: Marker, AI writing startup co-founded by DeepMind creative lead, raises $13M seed investment FRANCE: Bohr Energie secures €10M to scale its AI-powered renewable energy aggregation platform GERMANY: Fuchs & Eule secures €10M investment UK: Luffy secures £8.1M to scale real-time adaptive control technology BELGIUM: Polysense raises $10.7M to scale AI quality control for food manufacturers UK: Worldmodeldata lands £7M to turn gaming data into AI training GERMANY: alqem has raised €8M in pre-seed funding UK: Kord secures £6.4M to unify onboarding, compliance and payments SPAIN: InsectBiotech raises €7.2M to boost the conversion of agricultural waste FRANCE: Aria raises €7M in Series A extension funding UK: Pixel-Flo lands £5.25M seed round for MicroLED manufacturing UK: Whering lands $7M as digital wardrobe platform reaches 10M users FRANCE: Naaia raises €6M to help companies comply with the AI Act UK: Battery materials startup TaiSan founded by chess champion, raises £4.65M TURKEY: Mobile game company Bold Games has received a $6M investment NETHERLANDS: Whispp raises €5M to scale on-device voice reconstruction AI technology globally NETHERLANDS: Aardaia bags €5M to build the next generation of crops FRANCE: En Carta Diagnostics raises €5M to bring at-home molecular tests for Lyme disease and STIs to market SWITZERLAND: Aylight closes €4.5M pre-seed round to advance optical interconnect technology FRANCE: Panora bags $5M to modernise insurance brokerage across Europe GERMANY: ARC Intelligence raises €4M to scale its AI-native finance platform GERMANY: FENKA Robotics receives a €3M debt capital SPAIN: Balance, the technological platform for the comprehensive treatment of obesity, raises €3M GERMANY: Y Combinator-backed startup Finto raises $3.4M, says chose Munich over Silicon Valley GERMANY: Birdsview takes flight with €2.5M seed to scale Avys, its AI email marketing agent for online shops GERMANY: Porelio secures €2.4M to scale industrial water treatment materials UKRAINE: Dropla Tech receives €2.4M venture capital funding round UK: Stoa secures $2.4M for cash rewards platform GERMANY: Workforce management startup Sherpa raises $2.2M pre-seed GERMANY: Tentris receives €925,000 investment POLAND: Edge AI startup CTHINGS.CO raises €1.8M to power US expansion GERMANY: Unnamed investors invest €1.7M in Skillcourt SWITZERLAND: Treeless secures €1.3M to advance treeless biofabricated materials for industry GERMANY: Auxilius raises €1.3M pre-seed to automate enterprise compliance UK: Respiro Diagnostics secures £1M to advance lung diagnostics UK: Gyre Energy raises $1.3M to cut industrial cooling costs with AI and thermal storage SPAIN: 8Layers extends pre-seed round to €2.5M total funding ESTONIA: Display.dev raises €470,000 to power document collaboration for AI agents SPAIN: Sodena provides €250,000 in funding to the Navarrese company Muxunav SWITZERLAND: Rhonexum receives €163,000 from Venture Kick SWITZERLAND: Fragrance giant Givaudan backs ETH spin-off Microcaps GERMANY: reverse.fashion bags seven-figure funding to scale textile sorting BELGIUM: BrightAnalytic receives investment from PSG Equity GERMANY: Inven Capital and others are investing another seven-figure sum in Vytal GERMANY: butterfly & elephant is investing an undisclosed sum in Additive Marking AUSTRIA: Propcorn receives a six-figure sum investment Exits and M&A activity PORTUGAL: Tekever acquires Cloudsweep and reinforces its commitment to artificial intelligence FRANCE: Unchaind snapped up by Rocapine after reaching €875K ARR GERMANY: Berlin-based package holiday startup Tourlane is acquiring Lambus IRELAND: Wayflyer acquires Conjura SWITZERLAND: Banyan Software takes over a majority stake in Geneva-based Fintech WIZE DENMARK: The software company Omnidocs is acquiring the Danish IT company Xink NETHERLANDS: Munich-based vacation rental scale-up Holidu is acquiring the Dutch vacation rental service Gites.com

This week, we tracked more than 70 tech funding deals worth over €2.8 billion and over 5 exits, M&A transactions, rumours, and related news stories across Europe. Alongside the week’s top funding rounds, we’ve highlighted key industry developments, as well as notable trends in European venture activity, investor moves and emerging sectors shaping the current funding landscape. 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. ❗ Want to explore the data in more detail? The free, open-access Tech.eu Funding Explorer offers deeper insights into funding rounds, investor activity, company profiles and market trends. Either way, let's get you up to speed. ? Notable and big funding rounds ?? Hyperscaler Nscale secures £670M credit facility ?? Lendable raises $670M for global expansion ?? Largest European fusion investment on record sees Proxima Fusion raise €411M ??‍?? Noteworthy acquisitions and mergers ?? Tekever acquires Cloudsweep and reinforces its commitment to artificial intelligence ?? Wayflyer acquires Conjura ?? The software company Omnidocs is acquiring the Danish IT company Xink ? Interesting moves from investors ? BGF surpasses €5.8B deployed after 15 years backing UK and Irish startups ? BAE-backed Expeditions raises €197M fund for European defence startups ? EIFO strengthens Europe's energy independence ?️ In other (important) news ? How WaiV Robotics is solving one of maritime drones' biggest challenges ? Meet the startup digitising battlefield medicine ? Invest Europe: Venture capital reaches second-highest level on record ? Recommended reads and listens ?? Klarna applies for a US banking licence ?? Hamburg on a tear, as Germany witnesses a record 3,000 new startups in six months ? June 2026's top 10 European tech deals you need to know about ? European tech startups to watch  ?? Porelio secures €2.4M to scale industrial water treatment materials ?? Auxilius raises €1.3M pre-seed to automate enterprise compliance ?? Respiro Diagnostics secures £1M to advance lung diagnostics

Invest Europe has published its latest report, Transaction Value: Private Capital Analysis, examining private capital investment across Europe in 2025. The report shows that venture capital recorded its second-highest transaction value on record, growth capital recovered after three consecutive years of decline, and buyout activity remained broadly stable.  Across the market, European private capital proved resilient despite continued macroeconomic and geopolitical uncertainty, with transaction value remaining above €260 billion for the second consecutive year. The findings also point to continued investment concentration in technology and healthcare, reflecting sustained investor interest in innovation-led sectors. The report analyses investment activity by stage, region, sector and transaction size, while also examining equity ratios, co-investment trends and financing structures. Together, the findings provide an overview of how private capital is being deployed across European markets and the sectors and regions attracting the highest levels of investment. Overall private capital market Invest Europe's analysis shows that European private capital remained resilient in 2025, with total transaction value reaching €260.9 billion across 8,681 deals, only slightly below 2024 in deal count while remaining above the five-year average in value. Buyouts continued to dominate the market, accounting for €189 billion, or roughly 72 per cent of total transaction value, while healthcare and biotech reached a record €51.9 billion in investments, reinforcing the sector's growing importance. In contrast, consumer goods and services declined to €28.1 billion, their lowest level in a decade. Source: Transaction Value: Private Capital Analysis, Invest Europe Venture capital Venture capital delivered its second-highest annual transaction value on record, reaching €35.3 billion, despite a slight decline in the number of deals. Larger financings became more prominent, with transactions above €30 million accounting for a growing share of invested capital. ICT remained the leading sector, attracting €17.2 billion, while the UK & Ireland continued to lead regional investment activity and Southern Europe recorded the strongest annual growth. Source: Transaction Value: Private Capital Analysis, Invest Europe Growth capital Growth capital rebounded after three consecutive years of decline, with transaction value increasing 12 per cent year-on-year to €33.4 billion. The recovery was driven primarily by larger deals exceeding €30 million, while ICT and biotech and healthcare remained the most active sectors. Regionally, the UK & Ireland recovered to match France & Benelux as the largest markets for growth-stage investment. Source: Transaction Value: Private Capital Analysis, Invest Europe Buyouts Buyout activity remained broadly stable, supported by consistently strong financing structures. The report notes that average equity contributions remained above 60 per cent, reflecting continued investor confidence and relatively conservative capital structures despite a challenging macroeconomic environment. With €189 billion invested in buyouts during the year, the segment continued to account for the largest share of European private capital activity, underlining the market's resilience across investment stages. Source: Transaction Value: Private Capital Analysis, Invest Europe For more detailed findings and methodology, see Invest Europe's Transaction Value: Private Capital Analysis report.

A London-based startup behind an AI writing product, co-founded by an ex-DeepMind creative lead, has emerged from stealth with a $13m seed funding round. Called Marker, the funding round was led by Index Ventures with participation from LocalGlobe. Angel investors include Steve Newman, the co-founder of Writely, acquired by Google which became Google Docs, Cal Henderson, co-founder of Slack, and Hugging Face’s Thomas Wolf. Marker is billing itself as a “reimagined word processor”, which is built to support writers, leveraging AI tools that write with the writer, not for the writer.  It says it’s designed for the process of writing- such as the rough drafts and the half-formed thoughts. Some of its key features include ideation (helping writers figure out what they want to write), writing tools (designed to help users write and keep them in the flow), revision (supporting writers while they work through revision) and collaboration (writers can add a co-writer or commenter). Early testers of Marker have used it to write blogs, Substacks, business papers, memos and novels, the startup says. It comes amid heightened concern about AI slop. Earlier this year, Victor Riparbelli, the CEO of London AI startup Synthesia, warned against “AI-sloppification” after an increase in documents written by large language models. Its co-founders are Jon Steinback, ex-DeepMind, where he led brand and creative, and Ryan Bowman, who builds platforms for writers inside literary and talent agencies. Steinback, CEO, said: “We're in a moment where people get to choose the future of writing, and I believe they will choose something that values the craft, rather than the slop brutally eroding it.” Georgia Stevenson, partner at Index Ventures, said: “Creative people deserve tools that understand their craft. Figma transformed how designers work together; Notion reimagined how teams organise ideas. But writing—the most universal creative act—got left behind, stuck between legacy word processors and automation tools. Marker offers a compelling new approach."

Spain-based Catalyxx, a developer of bio-based chemicals, has secured a €20 million grant from the European Union through RenewChem, a flagship project selected by the Circular Bio-based Europe Joint Undertaking (CBE JU). The funding will support the construction of Catalyxx's first commercial bio-based chemicals plant in Europe, marking the company's transition from technology demonstration to commercial-scale production. Catalyxx is leading the RenewChem consortium alongside chemical companies Arkema and Evonik, bringing together industrial, technology and research partners from across Europe. The project aims to establish Europe's first industrial-scale production of bio-based alcohols from ethanol, producing chemicals that are compatible with existing industrial infrastructure and supply chains while reducing reliance on fossil-based feedstocks. Founded to develop renewable alternatives for the chemical industry, Catalyxx has developed a proprietary process that converts ethanol into butanol, hexanol and other higher alcohols used in products including coatings, adhesives, lubricants, surfactants, home and personal care products, fragrances and sustainable fuels. The company says its products are designed to match the performance of conventional petrochemical alternatives while reducing the carbon footprint of chemical manufacturing. According to Joaquín Alarcón, CEO of Catalyxx, the grant validates both the company's technology and industrial strategy while supporting its transition to commercial-scale production. He added that the project could also strengthen Europe's supply security and strategic autonomy in critical chemical value chains. The grant comes as Europe's chemical industry faces increasing pressure to decarbonise production while maintaining industrial competitiveness. Catalyxx aims to provide manufacturers with renewable chemical alternatives that can be adopted without requiring changes to existing production processes.

British-founded maritime defence startup Kraken Technology today said it had achieved unicorn status. The startup, founded in 2020 by former speedboat racer Mal Crease, said it had raised $175m in a Series B funding round at a $1bn valuation, according to a press release. The funding round was led by Digital Transformation Capital Partners (DTCP), with support from the British Business Bank, NATO Innovation Fund (NIF), Rheinmetall, Inocea group as well as VC firms Hico Ventures, Thesiger Capital, and BOKA Capital. Kraken designs and builds autonomous maritime platforms, such as uncrewed subsurface vessels, for military and security purposes. Its tech is used by NATO, the UK Ministry of Defence and the US Navy. It also counts US defence outfit Anduril as a partner. It says it will use the funding to develop its uncrewed surface vessels while expanding manufacturing facilities. Crease, CEO, said: “This significant funding round will accelerate Kraken's global roll-out, enabling the deployment of hardened, reliable, mission-ready capabilities for NATO and its worldwide partners at an unprecedented scale in the maritime domain."

Germany-based Sherpa, a startup developing an AI operating system for external workforce management, has raised $2.2 million in a pre-seed funding round co-led by Seedcamp, DN Capital, Activant Capital and Brighteye, with participation from several operator angels. Founded by Tristan Deschler, Tim Altpeter and Max Lang, Sherpa is building a platform to manage the full lifecycle of external work, from request to payment, designed to bring contractors, freelancers, consultants, service providers and AI agents into a single operating system. As enterprises adopt AI agents alongside external workers, they encounter similar operational requirements around onboarding, compliance, performance management and oversight. Sherpa's platform provides a unified framework for managing both human and AI-driven work while enabling organisations to maintain control over data, governance and compliance. The company aims to help enterprises and managed service providers (MSPs) streamline these processes through a single operating model. Deschler said organisations are increasingly managing workforces that combine employees, contractors, service providers and AI agents, while many of the systems they rely on today were not designed for this level of operational complexity: There is a huge demand for a single platform where all work can be requested, governed, delivered, and measured, regardless of whether it's performed by a person or an AI agent. We believe workforce management is evolving into work orchestration, and Sherpa is leading the infrastructure to power that transition. Sherpa plans to use the funding to expand enterprise deployments, strengthen integrations with enterprise platforms, and advance compliance initiatives.

A German startup spun out of a famed Munich research university whose tech helps semiconductor firms test out products and find defects has raised €15m in equity funding.   The new equity funding in QuantumDiamonds complements a previously announced €76m in EU-backed state funding in the startup, making €91m in total.   QuantumDiamonds, which was spun out of the Technical University of Munich (TUM), will use the funds to scale production of its technology.   The €15 million equity round was led by climatetech investor World Fund, a new investor. Other equity investors were German VC Bayern Kapital, alongside the startup's existing investors IQ Capital, Earlybird, First Momentum, UnternehmerTUM, Creator Fund, Onsight Ventures, and angel investors.   The €76 million in state aid is in non-dilutive funding, which means the funders don’t take equity. It comes from the German Federal Ministry for Economic Affairs and Energy and the Free State of Bavaria.    Last month, the European Commission approved the German state aid for the startup, which is setting up a high-tech semiconductor testing facility in Munich.    The move follows proposals for new EU laws to improve Europe's chip, cloud and AI offerings and be less reliant on US tech.   QuantumDiamonds says the testing facility is key to the EU’s plans to produce its own technology and software components. As part of the deal, QuantumDiamonds has agreed to work with SMEs and with research institutions and universities.   Kevin Berghoff, CEO and co-founder of QuantumDiamonds, said: “This is a major step in bringing quantum sensing into fabs worldwide. “The response from leading chipmakers has been clear: they see our technology as essential for solving yield challenges that today’s systems can’t address. With deployments now live in the U.S. and Taiwan and serial production ramping up in Munich, Europe isn’t just participating in the next chip era, it’s helping define it.”   Founded in 2022, QuantumDiamonds says it will use the funding to scale its operations including its new testing facility. The startup, which currently employs 70 people, plans to more than double its engineering team over the next 12 months, it says.   QuantumDiamonds operates across Europe, Asia and the US.  

Pixel-Flo, a University of Sheffield spin-out developing manufacturing technology for MicroLED displays, has raised £5.25 million in seed funding. The round was led by Northern Gritstone, with participation from SCVC, the Parkwalk Northern Universities Venture Fund and German investment firm HTGF. Founded by Dr Rick Smith, Dr Suneal Ghataora and Simon Jones, Pixel-Flo is commercialising research from the University of Sheffield's School of Electrical and Electronic Engineering. By combining semiconductor photonics research with extensive display industry expertise, the company is developing manufacturing technology designed to address one of the key barriers to wider adoption of MicroLED displays. MicroLED technology offers advantages in brightness and energy efficiency compared with conventional display technologies, but its broader adoption has been limited by the cost and scalability of existing manufacturing methods. Pixel-Flo's Continuous-Flow Mass Transfer process, based on fluidic self-assembly, is intended to support higher-throughput production while reducing processing costs and material use across a range of MicroLED display applications. The funding will support Pixel-Flo's transition from laboratory development to industrial scale-up, including team expansion, new laboratory and office facilities, and continued product development. It will also support the company's international growth strategy.

Lissi GmbH, a European provider of EUDI Wallet connectivity and verifiable credential technology, has closed a €3.5 million funding round to accelerate the development and deployment of digital identity solutions across Europe. The round was led by Ventech, with participation from BM H Beteiligungs-Managementgesellschaft Hessen and existing investors, main incubator (Commerzbank Group) and Ninepointfive Ventures. Founded in 2019, Lissi develops software that enables organizations to integrate EUDI Wallets and verifiable credentials into their digital services. The company works primarily with financial institutions and supports the implementation of interoperable, eIDAS-compliant digital identity solutions. The funding comes as demand for trusted, interoperable and eIDAS-compliant digital identity solutions continues to grow, driven in part by the upcoming application of the EU Anti-Money Laundering Regulation (AMLR) in July 2027. Today, around 90 per cent of Lissi's customer base comes from the financial sector, including banks, insurance companies, payment service providers and trust service providers, with organizations such as itsme and Commerzbank among its customers. Lissi's EUDI Wallet Connector Suite is designed to enable seamless interoperability between public and private EUDI Wallets across the European Union, supporting implementations in both the public and private sectors. Financial institutions need solutions that integrate seamlessly into existing IT environments while allowing them to retain full control over customer data.Our platform has been built to meet these requirements: it is eIDAS-compliant, flexible to deploy and aligned with the security and compliance standards of the financial sector. The trust placed in us by leading banks and financial service providers demonstrates the market demand for this approach, said Helge Michael, CEO and Co-Founder of Lissi. The funding also reflects Lissi's focus on strengthening a sovereign European digital identity ecosystem. With investors from Germany, France and Belgium, and a partner network spanning the European Union, the company positions itself as an independent, pan-European technology provider supporting the implementation of interoperable digital identity infrastructure. Building on this foundation, the investment will support the further development of Lissi's platform and product portfolio, helping financial institutions address evolving regulatory requirements while enabling new Open Finance use cases through identity wallets.

A German startup building AI agents for accounting today said it had deliberately opted to be based in Munich over Silicon Valley after going through Y Combinator in San Francisco and raising a £3.4m seed round. Finto says it wants to be based in Munich, as it says European finance teams need European solutions, built by people who understand the market, the regulatory environment, and ERPs (enterprise resource planning systems) firsthand. Jonas Morgner, co-founder & CEO, Finto, said: "We chose Munich deliberately: the talent is here through TU Munich (Technical University of Munich), our customers — Europe's industrial mid-market and enterprises — are here, and the enterprise-software core we build on, including SAP, is on our doorstep." The seed round funding comes from Y Combinator, Gradient, the VC firm spun out from Google owner Alphabet, as well as US VC giant Lightspeed. Finto went through Y Combinator in San Francisco in 2025. According to Y Combinator's website, 49 startups, currently headquartered in Germany, have been through Y Combinator. Finto, founded in 2025, builds AI agents that autonomously handle core accounting tasks. The software autonomously handles invoice verification, account coding, purchase-order matching, and is integrated with SAP, Microsoft Dynamics, and DATEV.  Among its customers are German football club Arminia Bielefeld and Cologne-based Eat Happy Group, which operates sushi counters in supermarkets. Before founding Finto, the company's executive team-Morgner, Linus Boehm, CTO, and Lorenz Neuner, CPO- held leadership roles at the enterprise-technology companies Tacto and TradeLink, which together raised over $75 million from Sequoia, Index Ventures, and Insight Partners.

A German startup building AI agents for accounting today said it had deliberately opted to be based in Munich over Silicon Valley after going through Y Combinator in San Francisco and raising a £3.4m seed round. Finto says it wants to be based in Munich, as it says European finance teams need European solutions, built by people who understand the market, the regulatory environment, and ERPs (enterprise resource planning systems) firsthand. Jonas Morgner, co-founder & CEO, Finto, said: "We chose Munich deliberately: the talent is here through TU Munich (Technical University of Munich), our customers — Europe's industrial mid-market and enterprises — are here, and the enterprise-software core we build on, including SAP, is on our doorstep." The seed round funding comes from Y Combinator, Gradient, the VC firm spun out from Google owner Alphabet, as well as US VC giant Lightspeed. Finto went through Y Combinator in San Francisco in 2025. According to Y Combinator's website, 49 startups, currently headquartered in Germany, have been through Y Combinator. Finto, founded in 2025, builds AI agents that autonomously handle core accounting tasks. The software autonomously handles invoice verification, account coding, purchase-order matching, and is integrated with SAP, Microsoft Dynamics, and DATEV.  Among its customers are German football club Arminia Bielefeld and Cologne-based Eat Happy Group, which operates sushi counters in supermarkets. Before founding Finto, the company's executive team-Morgner, Linus Boehm, CTO, and Lorenz Neuner, CPO- held leadership roles at the enterprise-technology companies Tacto and TradeLink, which together raised over $75 million from Sequoia, Index Ventures, and Insight Partners.