France-based Qevlar AI, which develops AI technology for security operations centres (SOCs), has raised $30 million in funding for the development of its autonomous AI SOC platform. The round was jointly led by Partech and Forgepoint Capital International, with participation from EQT Ventures. Security operations centre (SOC) teams are handling increasing volumes of threat alerts, which can create operational challenges. Industry analyses suggest that even a small number of attack scenarios may generate large numbers of alerts, and a significant portion of the threat detection and response process is often spent on triage and investigation. As alert volumes grow, many SOC teams are working to manage these demands with limited resources. Qevlar AI has developed a platform designed to automate the investigation process. The system performs tasks such as data enrichment, identifying alert patterns, and generating reports, allowing security analysts to focus more on strategic activities, including threat hunting, incident response planning, and improving overall security posture. The platform uses AI to enrich, correlate, and investigate security signals, helping security teams analyse alerts across multiple systems. According to Qevlar, the technology is used by managed security service providers and large enterprises to identify potential threats, improve investigation consistency, and strengthen operational resilience. Ahmed Achchak, co-founder and CEO of Qevlar AI, said that many security operations centres currently measure success based on the number of alerts handled and how quickly they are resolved. He noted that this reactive approach provides limited insight into an organisation’s overall security posture and that identifying patterns and trends requires a different approach. We’re moving from autonomous alert investigations to an intelligent AI SOC platform that uncovers insights that transform how teams not only deal with alerts, but stop them from recurring. We’re putting out the fire and finding out what started it to make sure it doesn’t happen again, Achchak added. According to the company, organisations using the platform have reported reduced investigation times, continuous automated analysis of alerts, and the ability to review alerts in greater depth while managing increasing alert volumes. The new funding will support further development of the Qevlar platform as it expands beyond alert investigation. The company aims to enable security teams to rely on its autonomous AI system to conduct investigations and generate insights into underlying security issues and helping teams identify root causes, take corrective action, and strengthen overall security posture.

Escape, an offensive security engineering platform, has raised $18 million in a Series A funding round to develop AI agents designed to automate the security lifecycle. The round was led by Balderton, with participation from Uncorrelated Ventures and existing investors IRIS and Y Combinator. Advances in AI have shortened the time between code deployment and the exploitation of software vulnerabilities. While recent industry efforts have focused on securing code within developers’ environments, many security risks arise in live systems where configurations, integrations, authentication flows, and business logic operate in production. Escape was founded by Tristan Kalos (CEO) and Antoine Carossio (CTO) to address limitations in traditional application security models. The company aims to replace legacy scanners and manual offensive security processes with AI agents designed to automate security testing and remediation across the development lifecycle. The platform focuses on what it describes as offensive security engineering, an approach that uses AI agents to identify, test, and remediate vulnerabilities directly within engineering workflows. Escape’s agents automate tasks such as attack surface discovery, continuous security testing, and remediation support, helping teams move more quickly from vulnerability detection to resolution while reducing operational overhead. Security teams are outnumbered and managing siloed, manual processes. In a world where code is written and attacked at the speed of AI, this approach is no longer sustainable. We are building Escape as an offensive security engineering platform designed to address this challenge at scale. said Tristan Kalos, CEO and co-founder of Escape. Escape’s AI agents are designed to operate in live environments, simulating attacker behaviour to identify potential logic flaws and data exposure risks and support remediation before they can be exploited. In a recent analysis, Escape reported identifying more than 2,000 high-impact vulnerabilities across 5,600 publicly available applications generated using automated coding tools. These included 175 cases involving exposure of personal data, with some instances revealing multiple sensitive credentials. According to the company, all of the identified vulnerabilities were present in live production systems and could be discovered within a short timeframe. The new funding will support further development of the platform’s AI agent capabilities, including tools designed to analyse application logic during penetration testing, as well as the expansion of engineering and go-to-market teams as Escape targets enterprise customers in the US and Europe.

February 2026 saw a notable increase in funding compared with January, driven mainly by larger capital inflows rather than a sharp rise in the number of deals. Deal activity reached 296 transactions, up 11.7 per cent from 265 in January, indicating steady but moderate growth in deal volume. The more significant change was in total capital raised, which increased from €5 billion in January to €7.8 billion in February, representing a 56 per cent month-over-month rise. Geographically, funding became more concentrated, with the UK accounting for €3.8 billion, or about 48.7 per cent of total funding in February. At the sector level, transportation attracted €1.5 billion, approximately 19.2 per cent of total funding for the month. Tech.eu’s Cate Lawrence commented on the February numbers within the European tech investment landscape in our February Tech.eu Pulse, a compact version of the monthly report: In February, startups across the continent raised €7.8 billion across 296 deals, up from €5 billion the previous month. But the most telling trend is not the deal count - it is the growing concentration of capital into large, strategic rounds.Still, Europe’s startup ecosystem has never been solely about speed. Increasingly, it is about strategic depth — building technologies that underpin energy systems, mobility networks, healthcare platforms, and digital infrastructure.If February’s numbers tell us anything, it is this: European tech is still scaling - but increasingly, it is scaling the systems that matter. For her 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 February report. Here are the 10 largest tech deals in Europe from February, accounting for 61.5 per cent of the month’s total funding. Amount raised: €$1.4B Nscale is a technology company that provides AI-focused cloud and computing infrastructure designed to support large-scale artificial intelligence workloads. Headquartered in London, the company develops and operates high-performance GPU cloud platforms and data centres that enable organisations to train, fine-tune, and deploy AI models efficiently. Nscale has secured a $1.4 billion delayed draw term loan backed by GPUs to fund the purchase of GPU systems linked to multiple signed customer contracts. Amount raised: $1.2B Wayve is a London-based artificial intelligence company developing software for autonomous driving. Founded in 2017, the company builds AI foundation models that enable vehicles to learn how to drive from real-world data rather than relying on detailed maps or hand-coded rules. Its technology, known as an “AI Driver,” uses camera-based perception and machine learning to deliver scalable automated driving capabilities for passenger vehicles, robotaxis, and other mobility applications. Wayve raised $1.2 billion in a Series D round at $8.6B valuation to scale embodied AI for autonomous driving. Amount raised: €975M Eutelsat is a satellite communications company that provides connectivity and broadcasting services worldwide. The company operates a fleet of geostationary satellites and a low-Earth-orbit constellation through its subsidiary OneWeb, delivering video distribution, broadband connectivity, and data services to broadcasters, telecom operators, businesses, and governments across Europe, Africa, Asia, and the Americas. Eutelsat has signed €975 million in Export Credit Agency (ECA) financing to fund the procurement of new LEO satellites for its OneWeb constellation. Amount raised: $500M ElevenLabs is an AI research and technology company that develops advanced audio and voice generation models. Its platform enables users to create realistic, human-like speech, clone voices, and build conversational voice agents using generative AI. The company’s tools are used by developers, businesses, and content creators for applications such as voiceovers, dubbing, audiobooks, and customer-service automation across multiple languages. ElevenLabs has raised $500 million in a Series D funding round that values the company at $11 billion. Amount raised: $400M Polestar is an automotive manufacturer focused on electric vehicles and performance-oriented design. Founded as a standalone brand in 2017, the company develops and sells battery-electric cars that combine Scandinavian design, advanced technology, and sustainability. Polestar operates globally and aims to accelerate the transition to sustainable mobility through innovative electric vehicle products and digital-first sales and service models. Polestar has secured $400 million in new equity funding to strengthen its balance sheet and improve liquidity. Amount raised: $250M Axelera AI is a Netherlands-based semiconductor company that develops hardware and software platforms to accelerate artificial intelligence applications. Founded in 2021, the company designs AI processing units (AIPUs) and inference accelerators that enable efficient AI deployment at the edge for applications such as computer vision, robotics, industrial automation, and smart devices. Its technology focuses on high-performance and energy-efficient AI computing using proprietary digital in-memory computing architectures. Axelera AI raised more than $250 million in a funding round led by Innovation Industries, with participation from new investor BlackRock. Amount raised: $250M Wayflyer is a fintech company that provides revenue-based financing and analytics tools to e-commerce and consumer brands. Founded in 2019 and headquartered in Dublin, the company uses data-driven technology to assess business performance and offer fast, flexible funding that helps companies manage cash flow, purchase inventory, and scale operations. Wayflyer’s platform enables businesses to access capital without giving up equity, with repayments linked to future revenues. Wayflyer secured a $250 million two-year credit facility from ATLAS SP Partners to provide financing directly to founders of small businesses. Amount raised: $220M Olix is a semiconductor startup developing next-generation AI chips designed to improve the efficiency of running artificial intelligence models. The company is building a new class of AI accelerator that integrates SRAM-based architecture with photonics to deliver higher throughput, lower energy use, and reduced costs for AI inference workloads. Olix aims to address the growing compute demands of advanced AI systems by creating alternatives to traditional GPU-based architectures. Olix secured $220 million in new funding, bringing its total funding to approximately $250 million since its launch in 2024. Amount raised: €150M ICEYE is a space technology company that designs, builds, and operates constellations of synthetic aperture radar (SAR) satellites for Earth observation. The company provides high-resolution radar imagery and analytics that can capture images of the Earth day or night and through cloud cover. ICEYE’s data and satellite solutions are used by governments and commercial customers for applications such as disaster response, environmental monitoring, maritime tracking, and security. ICEYE raised €150 million in Series E funding. Amount raised: €150M Quantum Systems is an aerospace and technology company that develops and manufactures autonomous unmanned aerial systems (UAS) and aerial intelligence solutions. The company produces electric vertical take-off and landing (eVTOL) drones equipped with advanced sensors and software for data collection and real-time analysis. Its systems are used by government agencies and commercial customers for applications including defence, security, mapping, and geospatial intelligence. Quantum Systems received a financing package of a total value of €150 million to support their continued growth and industrial scaling in Europe.

Cytotrait, a spinout from The University of Manchester focused on developing new traits for food and agricultural applications, has closed a £3 million seed funding round. The round was led by Northern Gritstone, with participation from the UK Innovation & Science Seed Fund (UKI2S), managed by Future Planet Capital, and the Northern Universities Ventures Fund, managed by Parkwalk in collaboration with Northern Gritstone. Cytotrait develops technologies aimed at improving crop traits. Its proprietary platform, MOSS (Mutant Organelle Selection System), enables the introduction of genes and gene edits into plant organelles, including chloroplasts and mitochondria. The approach allows researchers to rapidly achieve homoplasmy, meaning the desired genetic change is present across all organelles within a cell or plant. The technology enables gene edits or insertions in plant organelles, supporting the development of new crop traits while addressing technical challenges in plant engineering. It can be applied to both endogenous gene editing and the introduction of transgenes. Cytotrait’s technology has potential applications in areas such as improving crop yield, enhancing resistance to pests and diseases, supporting hybrid crop development, and introducing new food-related traits. It may also contribute to agricultural approaches aimed at improving carbon capture. Dr Junwei Ji, co-founder and executive director of Cytotrait, said the company developed MOSS to help address challenges related to food security and agricultural sustainability. He noted that the technology is designed to support the development of crops with new and enhanced traits while potentially streamlining regulatory pathways. The company plans to use the new funding to expand research programmes focused on wheat, maize, potato, and canola in European and North American markets. These programmes will apply the MOSS platform to explore improvements in crop yield and resilience, the development of new food traits, and approaches that may support more sustainable agricultural practices, including improved carbon sequestration.

Intelligent Legal Solutions (ILS), a global legal technology company building automation software for investment fund lawyers, has secured a seed funding round led by Chicago Ventures, bringing its total funding to more than $3 million. Founded in 2024, ILS was established to address the largely manual nature of post-close fund workflows, an area that has historically seen limited support from modern software. While working in the investment funds teams at firms including Goodwin and Proskauer, co-founders Fergus Plant and Jack McCarthy identified this gap and, together with Stefano Benigni, developed ProVision to introduce greater structure and automation to these processes. ProVision enables private funds teams to manage side letters, and MFN processes more efficiently by consolidating side letters into a single system of record and converting negotiated terms into structured, searchable obligations and elections. The platform also streamlines MFN workflows by generating election forms that automatically track selections. By incorporating AI capabilities and complying with SOC 2 Type 2 and GDPR standards, ProVision is designed to reduce manual tracking across emails and spreadsheets while supporting more consistent workflows. It also provides greater visibility into side letter obligations and elections throughout a fund’s lifecycle. Since its launch, ILS has been adopted by more than 10 of the world’s largest law firms. ProVision has processed over 5,000 side letters across more than 450 matters and supported over $150 billion in fundraises. The new investment will support further development of the ProVision platform as the company works toward its product roadmap for 2026.

Saltz, a digital marketplace for the food supply industry, has raised €20 million in Series A funding. The round included investment from the European Bank for Reconstruction and Development (EBRD), Inovo, Lifeline Ventures, and Change Ventures, along with participation from Mantas Mikuckas (founder of Vinted), Miki Kuusi (founder of Wolt), several Shopify executives, and other strategic angel investors. The company was founded after its team identified how fragmented and largely offline the food distribution sector remains. Restaurants often rely on multiple distributors, face limited pricing transparency, and place orders through manual and time-consuming processes. At the same time, suppliers can struggle to efficiently reach customers or provide additional services such as payment terms and logistics. Saltz aims to address these challenges through a digital marketplace that connects professional kitchens directly with verified food suppliers. Available through a browser and mobile app, the platform consolidates supplier catalogues, ordering, payments, and logistics into a single interface, helping replace fragmented procurement processes. Saltz co-founder Andrius Slimas said the team previously built global B2B marketplaces at Oberlo and Shopify and identified a lack of infrastructure supporting direct cross-border transactions in food distribution. Restaurants and suppliers still rely heavily on intermediaries, wasting time and inflating margins. Saltz is building a transparent, simple marketplace that connects chefs directly with suppliers across Europe and beyond, Slimas added. The platform currently operates across 20 countries, providing chefs with access to thousands of fresh and frozen meat and seafood products. By bringing together suppliers and kitchens on a single platform, Saltz seeks to streamline sourcing and improve transparency in food distribution. With the new funding, the company plans to accelerate its expansion across Europe and further develop the technology supporting cross-border food trade. Over the next year, Saltz also plans to grow its team across engineering, product, sales, and operations as it continues scaling the platform.

A UK startup which has developed software to automate the manufacturing of key component parts for industries, including space, defence and robotics, has raised $50m in a Series A funding round, less than 12 months after its $9m seed round. Isembard, founded by entrepreneur and former army reservist Alexander Fitzgerald in 2024, is creating a network of factories serving key industries, with the aim of showing that Britain can revive its manufacturing prowess.  The startup is named after Isambard Kingdom Brunel, the well-known civil engineer. The startup runs its own and franchise factories, leveraging proprietary software, and aims to deploy dozens of software-driven factories across the UK.   Its software integrates quoting, scheduling, supply chain, manufacturing, quality control and delivery into what it calls a “single intelligent agentic operating layer”.  The capital from the funding round will speed up the startup’s plan to open 25 factories by the end of 2026, expand its engineering teams while launching into Germany, France and Ukraine.  The round was led by Union Square Ventures, an early backer of Twitter and Coinbase. New investors Tamarack Global and IQ Capital participated along with exiting investors Notion Capital and CIV. Angel investors in the round include Alex Bouaziz, founder and CEO of Deel, and Matt Briers, the former Wise CFO.  Fitzgerald, founder and CEO, who previously founded challenger broadband provider Cuckoo, said: “Manufacturing is the origin of our security, prosperity and sense of purpose as nations.   “This Series A enables us to open more factories, invest in MasonOS, support exceptional franchisees and recruit the best engineers across Europe and the United States. Our mission is to forge industrial acceleration.”

University of Edinburgh spin-out BIOCAPTIVA has raised £1.58 million in a new funding round and launched its first product in the US. BIOCAPTIVA’s novel magnetic bead technology is designed to solve one of liquid biopsy’s biggest bottlenecks: preparing blood samples for cancer research and diagnostics. By improving how cell-free DNA is captured from blood, the technology aims to make liquid biopsy testing more reliable, scalable, and accessible. The company's patented msX platform extracts DNA directly from whole blood without the need for centrifugation or additional reagents, delivering higher-quality samples with simpler, faster processing. The technology has the potential to accelerate and scale cancer research by addressing a long-standing bottleneck in liquid biopsy sample preparation, a growing market in non-invasive genetic testing. BIOCAPTIVA launched its msX kits for research use in Boston earlier this month to build a body of evidence across a range of applications. The raise was led by existing investor Archangels, with support from Old College Capital, BBI, Scottish Enterprise, and new investor EverQuest Capital Partners. To further cement its growth, the company has appointed Alan Schafer as Chief Technology Officer. Schafer brings more than 30 years' experience in genetics technologies and molecular diagnostics, including roles as CTO at Inivata (acquired by NeoGenomics in 2021 for $415 million), CEO at Population Genetics Technologies and 14M Genomics, and former VP Technology Development (Global) at GlaxoSmithKline. According to Jeremy Wheeler, CEO of BIOCAPTIVA, while oncology scientists and technologists have been doing incredible work with the samples they’re given, there hasn’t been any significant progress in how the samples are prepared for years. "Our msX platform has the potential to revolutionise how samples are collected, allowing for larger samples, faster extraction, simpler processing, and fully automatable capabilities. In practice, that means faster, better and deeper iteration and research on cancer, leading to better outcomes for potentially millions of people globally. This new funding brings us closer to achieving that goal.” Sarah Hardy, Director and Head of New Investment at Archangels, said: “BIOCAPTIVA is at an inflexion point in its growth trajectory with the launch of its new msX beads. The market potential for the technology is remarkable, and with the products, the senior leadership and the research and development capability within the business, we’re confident about the future success of the BIOCAPTIVA.” Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise, said:  “Our investment in BIOCAPTIVA highlights our commitment to helping increase the scale of capital investment by businesses in Scotland to support our economy, drive productivity and create higher-value jobs. Company growth and productivity can lead to optimised operations, expanded export capabilities and move jobs up the value chain.” The funding will also support R&D investment to expand BIOCAPTIVA's product range and potential applications.

Nscale, the Nvidia-backed AI infrastructure startup, has raised $2bn in a Series C funding round, valuing it at $14.6bn, and appointed Sheryl Sandberg and Nick Clegg to its board.   The round, which Nscale says is the largest Series C ever in Europe, was led by existing investor Aker ASA, the Norwegian investment firm, and VC firm 8090 Industries. Astra Capital, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, Nvidia and Point72 also participated in the round. The latest funding round follows the London-headquartered startup securing a $1.4bn loan to fund the purchase of GPUs earlier this year, and months after it secured a $1.1bn Series B.   Nscale, which pitches itself as a "hyperscaler engineered for AI", is a key local AI infrastructure partner for OpenAI, Microsoft and Nvidia, which have announced significant investments into the UK AI ecosystem. The startup develops data centres and provides cloud services. The startup is providing AI infrastructure for OpenAI’s AI data centre in Norway, called Stargate Norway, and its UK equivalent, Stargate UK. Nscale, which only emerged from stealth in 2024, said it will use the funds to speed up the buildout of its AI infrastructure, including its data centre offering, and expanding in overseas markets. Nscale has also appointed former Meta leaders Sheryl Sandberg and Nick Clegg, the former UK deputy prime minister, and Susan Decker, a former president of Yahoo, to its board. Josh Payne, CEO and founder of Nscale, said: “This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next 5 years, artificial intelligence will be integrated into every industry, every product, and every job. "Accelerating drug discovery, extending human life, autonomizing travel and robotics, lifting productivity, and driving massive growth. "This is leading to the largest infrastructure buildout in human history. Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence.”

Mirai Robotics has raised $4.2 million Pre-Seed, one of the largest in Italy in the robotics and deep-tech sector, to build autonomous and intelligent maritime systems to master every sea. Primo Ventures, Techshop and 40Jemz Ventures led the round, with participation from leading Italian and international angel investors.  The sea is one of the most critical infrastructures on the planet. Over 80 per cent of global trade moves by sea, more than 90 per cent of Europe’s foreign trade depends on maritime routes, and around 95 per cent of international internet traffic flows through subsea cables.  But despite its economic and geopolitical centrality, the maritime domain remains one of the most complex and least digitised environments in the world: high operational costs, limited continuous observability, significant exposure to risk, and a strong reliance on human operators.  This is compounded by an increasingly structural trend: a shortage of qualified professionals, with thousands of operational roles difficult to fill and a steadily rising average age among captains and operators. A fully human-centric model is struggling to sustain continuous, safe, and scalable operations. Mirai Robotics aims to build the robotic infrastructure needed to make the sea more governable, safe, and observable. Mirai Robotics’ systems are designed to enable persistent surveillance, patrolling, monitoring, and control, reducing human exposure to risk and significantly lowering operational costs compared to traditional models. The company focuses on the deep integration of autonomous vehicles, advanced sensing, artificial intelligence, and control systems, approaching autonomy first and foremost as an engineering and industrial challenge — not merely a software one. The company was founded by Luciano Belviso (CEO), Luca Mascaro (Chief Product & Technology Officer), and Davide Dattoli, board member. Luciano Belviso has previously built and led highly complex industrial companies, including Blackshape, a benchmark player in aircraft design and manufacturing, later acquired by Angel Holding.  Luca Mascaro is an entrepreneur and technological designer, founder of Sketchin, later acquired by the BIP Group, where he served as Chief Innovation Officer, with extensive experience in building digital products and technology platforms at international scale.  Davide Dattoli is an entrepreneur, founder of Talent Garden, and an investor in the tech and education ecosystem, with a long track record in scaling innovative companies across Europe. From a product perspective, Mirai Robotics has already developed two autonomous vehicles designed for different operational needs, targeting ISR (Intelligence, Surveillance and Reconnaissance) and patrolling scenarios in both coastal and offshore environments. The vehicles integrate advanced perception systems, autonomous navigation, remote control, and safety features, and are designed to operate either as standalone units or as part of distributed systems. Alongside its proprietary platforms, Mirai Robotics also develops autonomy, navigation, and control solutions that can be integrated into third-party vehicles, enabling industrial and institutional operators to adopt autonomous technologies without fully redesigning their existing fleets. This approach makes Mirai’s technology applicable across multiple civil and institutional use cases, following a dual-use-by-design logic. Italy is historically a global leader in shipbuilding and maritime engineering, with internationally recognised excellence in defence, yachting, offshore, and marine infrastructure. Mirai Robotics was born at the intersection of this industrial heritage and a new generation of technologies based on advanced robotics, AI, and autonomous systems. “The sea is one of the last major physical infrastructures not yet governed by software,” says Luciano Belviso, CEO of Mirai Robotics. “Autonomy is the key to finally making the oceans safe and usable, unlocking enormous resources and addressing critical security challenges. But it must be implemented through systems capable of operating continuously and safely in extreme environments. This is a technological and industrial challenge that requires a true robotics-lab approach.” According to Gianluca Dettori, Partner at Primo Capital, the maritime domain is at an inflexion point.  “We're looking at a huge economy that still relies on operational models designed decades ago. The human capital gap alone — thousands of unfilled roles, ageing workforces, increasing operational risk — makes the status quo unsustainable. What Mirai Robotics is building isn't just automation; it's the fundamental infrastructure layer that will allow the blue economy to scale safely and efficiently.” The capital raised will be used to accelerate technology development, strengthen the team, and launch new pilot projects with industrial and institutional partners. Lead image: Luciano Belviso and Luca Mascaro. Photo: uncredited.

Last week, we tracked more than 60 tech funding deals worth over €1 billion, and over 15 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 billion and over 15 exits, M&A transactions, rumours, and related news stories across Europe. Alongside the week’s top funding rounds, we’ve highlighted the most important industry stories, including the release of our monthly report for February covering key investment trends, notable company activity and emerging sectors. 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. Either way, let's get you up to speed. ? Notable and big funding rounds ?? PLD Space raises €180M to scale satellite launch infrastructure ?? Backed by €113.8M, RIFT to deliver 340 GWh of industrial heat annually and avoid over 1M tonnes of CO₂ ?? Self-driving startup Oxa raises $103M to scale industrial deployments ??. Flink lands $100M to advance targeted expansion ??‍?? Noteworthy acquisitions and mergers ?? Medtech company Gleamer is acquired by an American company for €230M ?? Onetag acquires Aryel to build a new programmatic ad exchange ?? German logistics tech firm cargo.one adds Cargofive in €17 million-backed multimodal expansion ?? US tech giant Avalara acquires Manchester startup Versori ? Interesting moves from investors ?  GHARAGE Ventures launches Fund I and opens global travel platform ?. FIRSTPICK raises €25M to find the Baltics’ next breakout founders ?. EIF makes largest defence investment yet with €50M backing for Join Capital ?️ In other (important) news ??  February funding rebounds to €7.8B as UK startups capture the lion’s share of European capital ??  European Tech.eu Pulse: key trends and investment in February ??. From energy transition to deeptech growth: the Swedish tech ecosystem ? UK-headquartered satellite startup Open Cosmos plans European rival to Starlink ?  Wilbe opens White City lab in London to remove infrastructure bottlenecks for science startups ?? Defence tech outfit Mutable Tactics raises over $2M in pre-seed round ?? Qura secures €1.5M to rethink health management in Europe ?? Synca Therapeutics received €1.3M in follow-on funding by BioInnovation Institute ?? Venture Kick backs Fainite with €170,000 to advance physics-based simulations ?? Noxon closes seed funding round to advance muscle-computer interface technology

On 8th March (International Women’s Day), Lovable is making its platform completely free globally for 24 hours to celebrate SheBuilds, Lovable’s program spotlighting women building software across the world. SheBuilds shows what’s possible when building software is accessible to anyone with an idea. This year, it is becoming a global build day that anyone can join, at no cost, with no coding or application required: Lovable will be free worldwide for 24 hours, with no registration required. Participants will learn to build with AI and ship a real app by the end of the day. Builders will also receive $100 in Anthropic API credits and $250 in Stripe fee credits. The day will centre on a live build event hosted by Elena Verna, Lovable’s Head of Growth, streamed from Stockholm, alongside events in Boston and more than 30 community gatherings across 17 countries. Previous SheBuilds participants have launched real products used by customers worldwide, including AI Recess, MicroFundHer, and Sawa. Elena Verna, Head of Growth at Lovable, said: “For years, women have been told to wait. Wait for support, for permission, and for resources to build. SheBuilds is working to change that. On March 8, we’re offering free access to Lovable globally and, together with our community partners, creating space for anyone to show up with an idea and leave with something live. Because when more people can build, they don’t just launch products, they change what’s possible.” Anton Osika, Co-founder and CEO of Lovable, said: “For decades, the ability to build software determined who got to turn ideas into reality, and most people were locked out. AI changes that, and SheBuilds is about proving it. For one day, we’re opening Lovable to everyone and removing the barrier to building. When more people can build, new businesses get created, new solutions appear, and entirely new value enters the world. That’s the shift we’re here to lead.”

The CEO of a prominent UK open banking fintech says the adoption of pay by bank, which is an alternative to card payments, is only "at the starting line".   TrueLayer CEO and co-founder Francesco Simoneschi was speaking on the Tech.eu podcast, where he spoke about the evolution of open banking in the UK, the adoption of pay by bank, TrueLayer's deal with Amazon, and what lies ahead for TrueLayer.   TrueLayer, which is backed by Tiger Global and Stripe, leverages open banking technology to allow customers to make pay by bank online transactions, which is an alternative to going through card giant intermediaries Visa and Mastercard. TrueLayer, which laid off around a quarter of its staff in 2024, recently received “strategic investment” from eBay.   TrueLayer’s merchant partners include Amazon, Just Eat Takeaway, Revolut and Coinbase.   TrueLayer believes that Amazon’s adoption of the tech signifies broadly where consumer behaviour is heading. Simoneschi said: “We are at the starting line when it comes to large retailers adopting pay by bank.”   Asked if it would be a good result for TrueLayer if Amazon acquired the startup, Simoneschi said, “I would say no. Personally, I am having a lot of fun being an independent company.”   On future retail adoption of pay by bank, he said: “We see a lot of demand. Whenever there is a high frequency of the relationship, there is always an opportunity in the form of loyalty.   "Many of the retailers have big loyalty schemes. I think a key element of that will be how you link up pay by bank to merchants’ loyalty programmes." The CEO also discussed VRPs (variable recurring payments), which many see as the next big thing in open banking, the importance of sovereign payment infrastructure, and TrueLayer’s plans for 2026.

Madrid-based TaxDown has secured €4 million in financing from BBVA Spark. The funding is supported by the European Union’s NextGenerationEU program and the European Investment Fund (EIF), with additional backing from Spain through the State Compartment of the InvestEU program. Founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown is a fintech company focused on digital taxation. The platform combines proprietary technology, artificial intelligence, and expert support to help individuals plan, optimise, and file their taxes in a simple and secure way. Artificial intelligence plays a central role in the company’s business model, enabling process automation, personalised tax guidance, and greater efficiency for human experts. Through its platform, users can file tax returns, identify eligible deductions, receive personalised recommendations, manage additional tax procedures, and access expert advice. Commenting on the investment, Enrique García, CEO and co-founder of TaxDown, said: Having BBVA Spark as a financial partner is a very important step for us. This funding will allow us to continue investing in artificial intelligence, improve our product, and keep simplifying the financial lives of millions of people. We want managing taxes to stop being complex and become an automated, transparent, and accessible experience. TaxDown operates in Spain and Mexico, has more than 4 million users, and over 500 companies use its services as a technology partner. The new financing will support the company’s growth, the development of new AI-based solutions, and the expansion of its technology team.

Revolut is making a fresh attempt to secure a US banking licence, it said today, as it scaled up its ambitions on the US market. Revolut, valued at $75bn, hailed the filing for the US bank charter with the US Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation as a “major milestone”.   It comes as Revolut, seen as the crown jewel of UK fintech, looks to rapidly expand in the US, where it has over one million customers.   The filing also comes as Revolut, which has over 70m customers in over 40 markets, still awaits a verdict on whether it has won a full UK banking licence. The US banking market has proved a tough nut to crack for European challenger banks.   German challenger bank N26 abandoned the US market in 2021, while another UK challenger bank, Monzo, withdrew its application for a US banking licence around a similar time.   Revolut submitted a draft application for a US banking licence in 2021, but did not apply for a full licence. However, President Trump’s administration is seen as more open to new entrants in the US banking market.   Should it win a US banking licence, it would not only give Revolut the cachet of a US banking licence, but it would mean Revolut would be able to offer personal loans and credit cards itself. It would allow it to operate across all 50 US states, under federal oversight.   Revolut currently partners with US bank Lead Bank to offer some services in the US.   Revolut co-founder and CEO, Nik Storonsky, said: “The United States is a key pillar of our global growth strategy. Filing for a national bank charter is a major milestone toward our vision of building the world’s first truly global banking platform.    "This charter will give us the direct control needed to innovate faster and deliver the Revolut experience to millions more Americans as we move toward our goal of 100 million customers.”   Additionally, Revolut has appointed former Visa, Capital and Raisin executive Cetin Duransoy as its new US CEO, replacing Sid Jajodia who remains at the company as Revolut's global chief banking officer.

Validio, an agentic enterprise data management platform, has raised $30 million in Series A funding led by Plural, with participation from existing investors and angels including Lakestar, J12 Ventures, Kevin Ryan, Denise Persson, and Emil Eifrem. The round brings the company’s total funding to $47 million. As organisations accelerate the adoption of AI, many initiatives struggle to move beyond the pilot stage due to challenges related to data quality and availability. At the same time, companies face growing pressure to ensure reliable and well-governed data, particularly in regulated industries. While AI technologies are already delivering productivity gains, their broader impact depends largely on access to high-quality, trustworthy enterprise data. Many existing data management tools were not designed for this environment. Organisations often still rely on manual, rules-based processes that require teams to create and maintain thousands of static checks, making these systems slow to implement, costly to maintain, and difficult to scale for AI-driven operations. Validio aims to address this challenge with a platform that automates data monitoring and management. Organisations in data-intensive and regulated sectors (including Nordea, Canva, Deutsche Glasfaser, Truecaller, Surfshark, Walden, and AllianceBernstein) use the platform to maintain data reliability and quality. The company’s platform detects and addresses data quality issues across large datasets through automated monitoring, anomaly detection, and integrated data lineage and cataloguing. This approach replaces thousands of manual checks and provides organisations with greater visibility and control over their data. Designed for cross-functional use, the platform enables both business and technical teams to collaborate and resolve data issues more efficiently. Patrik Liu Tran, founder and CEO of Validio, said many enterprises still struggle to rely on their data for reporting and analytics, even as they attempt to use it to support AI initiatives: The fastest way for enterprises to become truly data-driven and implement AI is to fix their data foundation with carefully curated and quality-assured data. We’ve built Validio to be the platform to help enterprises do just that, and we’re excited to partner with Plural as we scale globally. Over the past year, Validio reports strong growth in annual recurring revenue as demand for reliable enterprise data increases. The new funding will support expansion of its go-to-market efforts across the US, UK, and Northern Europe, continued product development, and team growth.

Cheer Games, a mobile puzzle game studio, has raised $4.5 million in a pre-seed funding round led by Makers Fund, with participation from Play Ventures and a group of angel investors. Founded by former senior leaders from AppLovin’s Lion Studios, Cheer Games was established by Emre Gercel (CEO), Berkay Ozturk (CPO), Ertan Ünver (CTO), and Kutay Koralturk (CMO). The founding team previously worked together on successful mobile titles, including the puzzle game Hexa Sort, and brings experience across game design, product development, growth, and business strategy. Emre Gercel said the company was founded with the ambition to build enduring game franchises and a long-lasting studio: We started Cheer because we believed we could build something more durable than the industry's short-term thinking allows for. To build games that become franchises and studios that become institutions. Barcelona gives us the global stage, our Turkish roots give us the hunger, and this team gives me complete confidence that we'll deliver. Cheer Games focuses on developing casual puzzle games for smartphones, with the goal of building scalable intellectual property and long-lasting mobile game franchises. The studio aims to create engaging gameplay experiences while applying a structured, product-driven approach to game development. Headquartered in Barcelona, Cheer Games is building a focused team with experience from leading European gaming companies. By combining expertise in game design, live operations, product development, and growth, the studio aims to develop a portfolio of puzzle games designed for global mobile audiences. The funding will be used to accelerate the development of upcoming mobile puzzle titles and expand the Barcelona headquarters by hiring additional global talent.

Wilbe, the venture fund and platform that trains and backs scientists to build companies from day one, today announces the launch of its first dedicated lab facility in White City, London. To date, Wilbe has trained more than 1,400 scientists, backed 22 companies, and helped create over $1.3 billion in value worldwide. However, through its venture programme and fund, Wilbe has repeatedly seen the same bottleneck emerge: founders raise early capital, but struggle to find venture-appropriate lab space quickly enough to maintain momentum. By adding physical lab infrastructure to its existing training and investment platform, Wilbe can now support scientists end-to-end: from learning how to build, securing capital, and helping them solve their accommodation challenges so they can focus on uncovering world-changing science. While this is Wilbe’s first physical lab for multiple occupiers, it builds on years of hands-on experience designing, fitting out and operating laboratory spaces for early-stage science companies across the UK and Europe. The White City Place facility, developed by asset manager Stanhope, is located within The WestWorks building. It will support 10–15 companies and up to 80 people, across fully fitted wet labs, offices and meeting rooms. Designed by and for scientist founders, Wilbe’s space offers ready-to-use, flexible infrastructure for companies from pre-seed to Series B. Laboratories are fully operational from day one, allowing teams to begin experimental work immediately rather than losing time to fit-outs or procurement. With Imperial College London, NHS trusts and an established biotech and deep-tech cluster embedded in the district, founders benefit from daily proximity to collaborators, talent and early customers - the kind of ecosystem where scientific ideas compound faster because the people advancing them work side by side. Wilbe plans to expand into additional UK and international hubs, including Zurich, Berlin, San Francisco and Austin, with a second London site expected to focus on robotics. Ale Maiano, co-founder and CEO of Wilbe, said: “For years, we helped scientists raise capital and build companies, only to watch them hit the same wall: there was nowhere exciting to go once they left academia. Wilbe Labs exists to remove that friction and institutionalised mindset. It’s not about real estate, it’s about giving scientist founders the infrastructure they need, when they need it and to help them move with speed. If we want more world-class science companies to be built here, we have to make it easier for scientists to get building and to perform beyond what is expected.”

A French quantum computing startup co-founded by a Nobel Prize winner is going public via a SPAC (Special Purpose Acquisition Company), with a $2bn valuation. Pasqal is merging with SPAC vehicle Bleichroeder Acquisition Corp II, with the deal expected to close in the second half of 2026, with the new entity to list on the US Nasdaq stock market. The deal values Pasqal at a $2bn pre-money valuation. The deal marks the latest in several quantum startups going public via a SPAC, as the alternative route for startups to go public gathers momentum. The deal could add more than $600m to Pasqal's coffers, details of the deal, which also cites a planned dual European listing on Euronext, show. Wasiq Bokhari, CEO Pasqal, said: “Pasqal brings a combination of some of the world’s leading neutral atom quantum computing technology, deep customer traction, commercial scaling and solid sovereign support.    “This funding gives us the fuel to further cement our leadership in the quantum computing industry as a global shareholder-focused French company.”  Michel Combes and Andrew Gundlach, co-sponsors of Bleichroeder Acquisition Corp II, said: “Pasqal has already deployed quantum computers globally and is delivering real-world capability today.  "We believe this partnership provides the capital and platform to accelerate Pasqal’s growth as a global leader in neutral atom quantum computing." Paris-headquartered Pasqal, which employs 275 people, is a full-stack quantum computing company.   Pasqal constructs quantum processors using ordered neutral atoms in 2D and 3D arrays, enabling practical quantum advantages for its customers and addressing real-world problems, it says. The 2019-founded startup is backed by Temasek, the European Innovation Council (EIC) Fund and LG Electronics. It was co-founded by Alain Aspect, who won the Nobel Prize in Physics in 2022. Other recent SPAC quantum deals include Xanadu Quantum Technologies and IQM.