Legora today announced the acquisition of London-based Wexler, the company’s fifth acquisition in 2026. Wexler’s fact intelligence platform extracts, verifies, and reasons over the factual record from large and unstructured document sets, used by some of the world's leading litigation and disputes teams at Clifford Chance, Goodwin, and Herbert Smith Freehills Kramer, as well as in- house legal and compliance teams at large global enterprises. Check out our earlier interview with Wexler co-founder and CEO Gregory Mostyn. Wexler was founded in January 2023 by Gregory Mostyn and Kush Madlani. Wexler’s engine runs documents through a gated pipeline that isolates discrete, verifiable happenings – who said what, to whom, when, and why it matters to the case – rather than returning summaries or loosely sourced excerpts, at scale over 1,000,000 documents per case.  The product is used by litigators, arbitrators and investigators working matters that require exhaustive, source-traceable fact development, the fact-lawyering at the heart of every dispute, as well as in-house legal teams to surface and resolve factual issues before they escalate into disputes. The company has since grown to a team of 18 with a significant client base in Europe and the United States, expanding revenue eightfold year-on-year with over 400 per cent net revenue retention.  Wexler's engineering team will form the founding team of Legora's London engineering hub. “Every dispute and every investigation comes down to the facts, and finding them is often the most manual and expensive part of legal work,” said Max Junestrand, CEO and Co-Founder of Legora.   “As agentic systems take on more of that work, fact queries won't just grow, they'll multiply by orders of magnitude. Wexler is the infrastructure built to handle that scale today.”  Wexler’s product will become part of the Legora agentic operating system, and their team becomes a cornerstone of the engineering hub Legora is building in London. “Fact-lawyering is the most challenging part of disputes work: the endless, painstaking review needed to map the facts, the issues and the characters into a compelling theory of the case,” said Gregory Mostyn, CEO and Co-Founder of Wexler.  “From a week-long investigation to a decade-long class action, building the case brain has never been harder, and it has never mattered more. We are delighted to be joining Legora and to continue serving the expert litigators and investigators working on the world’s most complex cases, as well as the in-house teams trying to get ahead of those cases before they're ever filed.” Combined with Legora's platform, Wexler's engine will become the fact layer underneath Legora's agentic workflows.  Litigation teams working inside Legora will be able to build the case brain for every matter: fact chronologies and evidentiary records without leaving a matter workspace, corporate legal teams will be able to use it across contract and communication archives to catch factual exposure before it becomes a claim. The acquisition follows a $600 million Series D round earlier this year that valued Legora at $5.6 billion, and comes as the company's platform is used by more than 100,000 lawyers at 1,500 leading law firms and in-house legal teams across over 50 markets. 

UK-based robotics software startup Kinematic Trees has raised £585,000 in pre-seed funding to accelerate the development of its robot-agnostic software platform and expand its commercial and engineering teams. The round was backed by Haatch through its SEIS Fund, D2N2 Early-Stage Angel Investment Fund, and British Business Bank (BBB) Syndicate Fund. Founded in 2025 by Dr Stuart Wilson and Daniel Camilleri, Kinematic Trees develops a software integration layer designed to make advanced robotics easier to deploy across different hardware platforms. Inspired by principles of natural intelligence, the platform captures specialist robotics expertise in modular software components that can be reused, combined and adapted for new applications, enabling robotics providers, manufacturers and software developers to build and scale robotic systems more efficiently. The company is working with robotics providers to develop integrated solutions across sectors including manufacturing, healthcare, education and the creative industries. Alongside its commercial activities, Kinematic Trees is also involved in research into embodied artificial intelligence and cognitive architectures to support the broader adoption of personal and industrial robotics. According to CEO Dr Stuart Wilson, recent advances in robotics hardware and artificial intelligence have significantly reduced the cost of deploying robots, but software remains a key barrier to wider adoption. Our robot-agnostic intelligence layer provides the software foundation to make robots more useful, adaptable and safe, while allowing advanced control systems and expertise to be reused across different hardware platforms, he said. CTO Daniel Camilleri added that widespread robotics adoption depends on software portability rather than individual hardware platforms. Our approach enables software to evolve across different robot embodiments, creating an ecosystem of reusable capabilities that can accelerate both industrial and consumer robotics, said Camilleri. The new funding will support product development, international deployment, and the expansion of Kinematic Trees' commercial, robotics and software engineering teams across London, Nottinghamshire and Sheffield. The company also plans to announce its first factory deployments and new partnerships with robotics providers and software developers during the second half of 2026.

UK-based robotics software startup Kinematic Trees has raised £585,000 in pre-seed funding to accelerate the development of its robot-agnostic software platform and expand its commercial and engineering teams. The round was backed by Haatch through its SEIS Fund, D2N2 Early-Stage Angel Investment Fund, and British Business Bank (BBB) Syndicate Fund. Founded in 2025 by Dr Stuart Wilson and Daniel Camilleri, Kinematic Trees develops a software integration layer designed to make advanced robotics easier to deploy across different hardware platforms. Inspired by principles of natural intelligence, the platform captures specialist robotics expertise in modular software components that can be reused, combined and adapted for new applications, enabling robotics providers, manufacturers and software developers to build and scale robotic systems more efficiently. The company is working with robotics providers to develop integrated solutions across sectors including manufacturing, healthcare, education and the creative industries. Alongside its commercial activities, Kinematic Trees is also involved in research into embodied artificial intelligence and cognitive architectures to support the broader adoption of personal and industrial robotics. According to CEO Dr Stuart Wilson, recent advances in robotics hardware and artificial intelligence have significantly reduced the cost of deploying robots, but software remains a key barrier to wider adoption. Our robot-agnostic intelligence layer provides the software foundation to make robots more useful, adaptable and safe, while allowing advanced control systems and expertise to be reused across different hardware platforms, he said. CTO Daniel Camilleri added that widespread robotics adoption depends on software portability rather than individual hardware platforms. Our approach enables software to evolve across different robot embodiments, creating an ecosystem of reusable capabilities that can accelerate both industrial and consumer robotics, said Camilleri. The new funding will support product development, international deployment, and the expansion of Kinematic Trees' commercial, robotics and software engineering teams across London, Nottinghamshire and Sheffield. The company also plans to announce its first factory deployments and new partnerships with robotics providers and software developers during the second half of 2026.

Qureight, an end-to-end imaging company that provides enterprise-grade imaging and precision endpoints for clinical trials with a focus on lung and heart disease, today announced it has raised $20 million in a Series B financing, led by Molten Ventures. Existing investors Hargreave Hale AIM VCT, XTX Ventures, Guinness Ventures, Meltwind, and Ascension also participated in the round. This brings the company's funding to over €27 million. The company is building an AI imaging laboratory to house Qureight’s 3D chest imaging Foundation Model, significantly reducing both the data requirement and the time needed to develop new disease models.  The Qureight platform includes:   Global imaging CRO services to improve image handling in clinical trials and support rapid site onboarding and patient inclusion decisions. Proprietary AI Lung image biomarkers enable the quantification of compartment-specific structural changes that indicate disease progression in a clinical trial. Data science products, including synthetic control arms that enable comparisons to real trial arms, reducing study costs and duration. The funding will allow Qureight to bring new products to market in new disease areas where there is high demand for advanced imaging analytics to improve clinical trial design: asthma, pulmonary hypertension, bronchiectasis, and drug-induced lung toxicity. The new disease models will complement Qureight’s existing models in lung fibrosis and expand the Company’s market reach, solidifying its position as a leading imaging company with an end-to-end, regulatory-compliant, disease-agnostic clinical trials platform.  Qureight’s services are already being utilised by biopharma partners, providing real-time insights and precision endpoints to accelerate clinical trials in a number of fibrotic lung diseases.   According to Dr Muhunthan Thillai, MD, PhD, Co-founder and CEO, Qureight: “We are excited to bring on Molten Ventures to lead this new financing round and for Dr Inga Deakin to join our Board of Directors. I also welcome Anna Salim of Hargreave Hale to the Board, and thank all of our existing investors who participated in this round. Their ongoing support reflects the confidence in both our enterprise-grade imaging platform, and our world-class team to address a critical demand to accelerate clinical trials.” He also notes that expanding the company’s  3D imaging deep learning models with its new AI laboratory will complement our existing dominance in lung fibrosis, allow it to enter new markets, and solidify its leadership position in the lung and heart imaging CRO market.”   Dr Inga Deakin PhD, Partner, Molten Ventures, added: “Qureight demonstrates how AI, powered by real-world data, can accelerate discovery and transform clinical research. The team’s rapid deployment of solutions in areas of unmet need underscores their unique capability to drive the next generation of medical innovation.”

Qureight, an end-to-end imaging company that provides enterprise-grade imaging and precision endpoints for clinical trials with a focus on lung and heart disease, today announced it has raised $20 million in a Series B financing, led by Molten Ventures. Existing investors Hargreave Hale AIM VCT, XTX Ventures, Guinness Ventures, Meltwind, and Ascension also participated in the round. This brings the company's funding to over €27 million. The company is building an AI imaging laboratory to house Qureight’s 3D chest imaging Foundation Model, significantly reducing both the data requirement and the time needed to develop new disease models.  The Qureight platform includes:   Global imaging CRO services to improve image handling in clinical trials and support rapid site onboarding and patient inclusion decisions. Proprietary AI Lung image biomarkers enable the quantification of compartment-specific structural changes that indicate disease progression in a clinical trial. Data science products, including synthetic control arms that enable comparisons to real trial arms, reducing study costs and duration. The funding will allow Qureight to bring new products to market in new disease areas where there is high demand for advanced imaging analytics to improve clinical trial design: asthma, pulmonary hypertension, bronchiectasis, and drug-induced lung toxicity. The new disease models will complement Qureight’s existing models in lung fibrosis and expand the Company’s market reach, solidifying its position as a leading imaging company with an end-to-end, regulatory-compliant, disease-agnostic clinical trials platform.  Qureight’s services are already being utilised by biopharma partners, providing real-time insights and precision endpoints to accelerate clinical trials in a number of fibrotic lung diseases.   According to Dr Muhunthan Thillai, MD, PhD, Co-founder and CEO, Qureight: “We are excited to bring on Molten Ventures to lead this new financing round and for Dr Inga Deakin to join our Board of Directors. I also welcome Anna Salim of Hargreave Hale to the Board, and thank all of our existing investors who participated in this round. Their ongoing support reflects the confidence in both our enterprise-grade imaging platform, and our world-class team to address a critical demand to accelerate clinical trials.” He also notes that expanding the company’s  3D imaging deep learning models with its new AI laboratory will complement our existing dominance in lung fibrosis, allow it to enter new markets, and solidify its leadership position in the lung and heart imaging CRO market.”   Dr Inga Deakin PhD, Partner, Molten Ventures, added: “Qureight demonstrates how AI, powered by real-world data, can accelerate discovery and transform clinical research. The team’s rapid deployment of solutions in areas of unmet need underscores their unique capability to drive the next generation of medical innovation.”

Alessandro Cillario and Stefano Onofri, co-founders and co-CEOs of Italian startup Cubbit, could easily spend all their time scaling internationally. Instead, alongside building one of Europe's leading sovereign cloud companies, they've invested heavily in something less tangible but equally important: Bologna's startup ecosystem. Central to that effort is The Bologna Gathering (TBG), an invitation-only event they co-founded that earlier this year brought together more than 500 founders, investors, corporates and innovation leaders from Europe, the Americas and Asia. Their belief is simple: successful startup ecosystems aren't built by governments or investors alone—they're built by founders who create opportunities for others while building their own companies. Cillario genuinely believes that the world belongs to people who give, asserting: “I've never really believed in the idea of "giving back" only after you've already become successful. Waiting twenty or thirty years, building a fortune and then deciding to help the ecosystem doesn't make much sense to me. During those decades you could have been supporting Europe, your city or your local startup community.” Bologna is one of Italy's most diversified industrial cities. While it's famous for food and its university, its economy is driven by advanced manufacturing, engineering, and increasingly deep tech. The city is one of the world's leading hubs for designing and manufacturing industrial machinery, particularly for packaging, automation, robotics, and precision engineering. Machinery accounts for roughly one-third of Bologna's exports. Bologna is also a key part of Italy's Motor Valley, with Ducati headquartered in Bologna and Lamborghini in nearby Sant'Agata Bolognese. The region is also home to extensive automotive suppliers and motorsport engineering. Building an ecosystem, not just infrastructure According to Cillario, the idea for the event started after his company attended Web Summit and realised something was missing in the European tech ecosystem. “Large conferences are hugely valuable, but you can't have the level of meaningful interaction that many people are looking for. At the same time, we were talking with institutions in Bologna and the Emilia-Romagna region, which is investing heavily in AI infrastructure. But building infrastructure alone isn't enough. You also need to build an ecosystem.” They decided it was better to bring people to Bologna rather than simply sending Italian companies abroad so that visitors could see the local ecosystem as it grew. And, as an invite-only event, The Bologna Gathering intentionally offers a different kind of gathering to Italy’s excellent flagship events like Italian Tech Week. At many conferences, the industry presence is largely limited to sponsors. Cillario agrees, noting that if you look at many of Europe's biggest success stories — Spotify, Klarna and others — they're consumer businesses. Selling to consumers is much easier than convincing large enterprises, which are naturally more risk-averse and slower to adopt innovation. “That's why bringing corporates into the event is so important. In the first year we had fewer than ten corporate participants. Today we have more than sixteen major companies involved because they've realised there's real value here. They can meet founders, provide feedback, discover new technologies and build partnerships.” One of the things I noticed attending was the number of people from local industry attending, including Ferrari, Unipol, Ducati, Generali, Intesa Sanpaolo Private, JP Morgan, Chiesi Farmaceutici, CNH Industrial, Dallara Automobili, and Menarini Silicon Biosystems. ​This meant that early-stage startups can actually speak directly with potential customers and ask, "Would this solve your problem?" Cillario asserts: “Here, almost every conversation is meaningful. We've deliberately brought together innovators, startups, corporates and investors who are actively building companies rather than simply attending another conference.” Cillario admits that planning, coordinating, and running the event takes time and energy, but that some of the things the team is most proud of are meeting founders who attended the Gathering a couple of years ago when they were starting out and seeing that today they've launched companies and raised millions. “Some of them will probably become even more successful than we are — and that's exactly what we want. If you really want an ecosystem to thrive, you have to contribute while you're building your own company, not only once you've already made it.” That ecosystem is now being reinforced by one of Europe's biggest investments in AI and supercomputing infrastructure. Founders are returning to Italy "Brain circulation" is becoming a defining feature of the Italian ecosystem. Rather than simply lamenting brain drain, Italy is increasingly benefiting from founders who gained experience in London, Silicon Valley, Australia and elsewhere before returning with capital, international networks and scale-up expertise. Simone Mancini came back from Australia to co-found fintech unicorn Scalapay. Luca Ferrari returned to Milan to build Bending Spoons into one of Europe's largest software companies. More recent examples include Unobravo founder Danila De Stefano, who developed the idea while living in London, and Simone Di Somma, who returned after selling his Y Combinator-backed startup Innaas to SAP to launch cybersecurity company Cyberwave. Italian founder Iris Skrami opted to move back to Italy from the Netherlands, where she founded digital product passports (DPP) startup Renoon.   She contends that “as we looked at where the market opportunity was, it became clear that fashion would be one of the first industries affected by DPP requirements. Italy has one of the world's strongest fashion industries, so it made sense to build the company here.” Further, she notes that because many of the startup’s early customers are traditional, family-owned Italian brands, “they still retain operational control, and decision-making is often faster. Many are already asking us to sign multi-year contracts because they're concerned prices will increase once regulation comes fully into force." Bologna's €1 billion AI infrastructure play Those returning founders are also benefiting from a rapidly expanding research infrastructure. Bologna is one of Europe's leading centres for AI, supercomputing and data-intensive research. At the heart of its transformation is the Bologna Technopole, a science and innovation campus developed by the Emilia-Romagna Region and Italy's Ministry of University and Research. The scale of the investment is impossible to miss. During my visit to the DAMA Tecnopole, I could occasionally hear the sounds of engineers installing supercomputers just a few hundred metres away —  part of a €1 billion infrastructure programme. The Technopole brings together multiple players, including supercomputing research centre CINECA, the weather forecasting institute  ECMWF, and the National Institute for Nuclear Physics NFN. At its centre is IT4LIA AI Factory, Italy's national AI factory, which combines world-class high-performance computing with technical support and free access to computing resources for eligible startups, SMEs, researchers and public organisations. That capability expanded significantly in June when the National Research Centre for High Performance Computing, Big Data and Quantum Computing (ICSC) launched five new high-performance computing systems at the DAMA data centre. The additions — including the AI-optimised LISA system and cloud-native GAIA platform — add to the Leonardo and MEGARIDE, giving the AI Factory access to more than 20,000 GPUs and creating one of Europe's most powerful AI computing platforms while strengthening the continent's technological sovereignty. Turning research into startups Image: BI_REX. Photo: Giacomo Maestri. BI-REX (Big Data Innovation & Research Excellence) helps startups and scaleups turn advanced technologies into commercial products. Its flagship "Test Before Invest" programme lets startups validate technologies before committing significant capital. Companies can build proofs-of-concept, test products on BI-REX's smart factory pilot line, and access robotics, AI platforms, additive manufacturing, digital twins, IoT infrastructure, 5G and HPC without buying the equipment themselves. BI-REX also supports startups with technology assessments, collaborative R&D projects, access to finance, market validation and acceleration programmes, as well as specialised training in AI, digital manufacturing and Industry 4.0 technologies to build the skills needed to scale. ​ Bologna has built a broad support network for founders. These include COBO Accelerator, which backs startups developing digital and industrial technologies; G-Factor focusing on life sciences, digital health, AI and emerging technologies; and the University of Bologna's innovation hub Almacube. A maturing startup ecosystem Italy's startup ecosystem is also showing growing momentum. The country is now home to 17 unicorns worth a combined $44.6 billion, including Prima and Namirial, which reached unicorn status in 2025. Activity in early 2026 reflected the breadth of the market, with funding rounds ranging from D-Orbit's $62 million Series D in space logistics and Subbyx's $35 million Series A to Dronus' $17 million raise in drone technology. Niulinx, a spinout from the Polytechnic University of Milan, also secured Europe's largest-ever autonomous driving seed round at $38 million. According to PitchBook, Italy recorded 225 VC funding rounds in the first quarter of 2026 — up 80 per cent year on year and the highest quarterly total in the past decade. Cillario contends that Italian startups have also become much more mature. “Startups are increasingly focused on attracting international capital, and international investors now recognise that Italy offers outstanding opportunities. Much of the technology comes from universities and research centres, so the quality is extremely high.” He describes Bologna and the Emilia-Romagna region as “an incredibly wealthy region with a strong industrial base and significant private capital.” Even unlocking a tiny fraction of that capital would dramatically increase venture investment in Italy. “It's also exceptionally well connected. Milan is about an hour away, Turin around two hours, and Rome isn't far either. More and more companies are choosing to start or relocate here, and I think that's a very positive sign.” For all its ecosystem investment and momentum, one of the strongest views I hear when talking to people in the Italian startup ecosystem is the need for cultural change. Skrami admits that Italy can sometimes feel quite closed compared with other startup ecosystems. She shared a view I’ve heard before — Italians often prefer to build quietly rather than talk publicly about what they're doing. Once, I even attended an event in Italy where a startup exhibiting told me they didn’t want any international press. She explained that “In many ways, people feel that talking too much about their success somehow diminishes it.” For Cillario and Onofri, changing that mindset has always been part of the mission. Building Cubbit and helping build Bologna's startup ecosystem were never separate projects—they were two parts of the same ambition. Companies to watch Daidalos Daidalos is a semiconductor IP company that designs and licenses accelerator cores for industries including high-performance computing, automotive, IoT, defence, and space. Rather than manufacturing complete chips, it provides integration-ready IP that customers can incorporate into their own processors, helping reduce development time, costs, and technical risk while retaining control over product design. GeneSys Bio GeneSys Bio is a medtech company developing portable molecular diagnostics for the rapid detection of infectious diseases. Its PCR-based platform delivers laboratory-quality results in under an hour, enabling clinicians to identify pathogens and antibiotic resistance at the point of care without the need for a fully equipped laboratory. Initially focused on urinary tract infections, the company's technology aims to make fast, accurate, and affordable genetic testing more accessible across human, veterinary, and environmental diagnostics. ​ Magnetic Future Spun out of the University of Bologna and Mercatorum University, Magnetic Future develops compact, contactless power supplies — known as flux pumps — for superconducting magnets. These magnets are essential to technologies including nuclear fusion, MRI systems, wind energy, scientific equipment and space propulsion. Existing power systems for large superconducting magnets can be expensive, energy-intensive and physically enormous. Magnetic Future’s technology is intended to keep electrical current circulating inside a superconducting magnet without the conventional high-current electrical connections. In one example involving an Italian fusion experiment, Magnetic Future estimates its flux pump technology could reduce annual energy costs from more than €1 million to less than €5,000, illustrating the potential efficiency gains of its approach to powering superconducting magnets. ​ Trailslight Trailslight is a smart infrastructure company using AI and sound analysis to make public street lighting more efficient. Instead of relying on cameras or additional roadside sensors, its devices are installed directly on existing streetlights, where they analyse ambient sounds in real time to detect traffic levels, classify different types of vehicles, monitor weather conditions, and measure environmental noise. Based on this information, the system automatically adjusts streetlight brightness to match actual road conditions, improving safety while reducing unnecessary energy consumption. Trailslight says its adaptive lighting can reduce public lighting energy consumption by 40 to 60 per cent, helping cities lower both electricity costs and carbon emissions. ​ O-Damp O-Damp is spun out from the University of Bologna and is developing advanced impact-protection technology for safety helmets. It created a patented insert that can be integrated into existing helmet designs to protect riders from traumatic brain injuries better better. The company's technology addresses one of the biggest causes of serious head injuries: rotational forces created when a helmet strikes the ground or another object at an angle. Unlike conventional helmets that primarily absorb direct impacts, O-DAMP uses a dual-layer structure combining expanded polystyrene (EPS) foam with pads filled with a non-Newtonian material. During an oblique impact, these inner pads allow controlled movement between the helmet layers, dissipating rotational energy before it reaches the wearer's head and helping reduce the risk of concussion and traumatic brain injury. Its initial focus is motorcycle helmets, but the technology is designed to be adapted for cycling, skiing, equestrian sports and workplace safety equipment.

Alessandro Cillario and Stefano Onofri, co-founders and co-CEOs of Italian startup Cubbit, could easily spend all their time scaling internationally. Instead, alongside building one of Europe's leading sovereign cloud companies, they've invested heavily in something less tangible but equally important: Bologna's startup ecosystem. Central to that effort is The Bologna Gathering (TBG), an invitation-only event they co-founded that earlier this year brought together more than 500 founders, investors, corporates and innovation leaders from Europe, the Americas and Asia. Their belief is simple: successful startup ecosystems aren't built by governments or investors alone—they're built by founders who create opportunities for others while building their own companies. Cillario genuinely believes that the world belongs to people who give, asserting: “I've never really believed in the idea of "giving back" only after you've already become successful. Waiting twenty or thirty years, building a fortune and then deciding to help the ecosystem doesn't make much sense to me. During those decades you could have been supporting Europe, your city or your local startup community.” Bologna is one of Italy's most diversified industrial cities. While it's famous for food and its university, its economy is driven by advanced manufacturing, engineering, and increasingly deep tech. The city is one of the world's leading hubs for designing and manufacturing industrial machinery, particularly for packaging, automation, robotics, and precision engineering. Machinery accounts for roughly one-third of Bologna's exports. Bologna is also a key part of Italy's Motor Valley, with Ducati headquartered in Bologna and Lamborghini in nearby Sant'Agata Bolognese. The region is also home to extensive automotive suppliers and motorsport engineering. Building an ecosystem, not just infrastructure According to Cillario, the idea for the event started after his company attended Web Summit and realised something was missing in the European tech ecosystem. “Large conferences are hugely valuable, but you can't have the level of meaningful interaction that many people are looking for. At the same time, we were talking with institutions in Bologna and the Emilia-Romagna region, which is investing heavily in AI infrastructure. But building infrastructure alone isn't enough. You also need to build an ecosystem.” They decided it was better to bring people to Bologna rather than simply sending Italian companies abroad so that visitors could see the local ecosystem as it grew. And, as an invite-only event, The Bologna Gathering intentionally offers a different kind of gathering to Italy’s excellent flagship events like Italian Tech Week. At many conferences, the industry presence is largely limited to sponsors. Cillario agrees, noting that if you look at many of Europe's biggest success stories — Spotify, Klarna and others — they're consumer businesses. Selling to consumers is much easier than convincing large enterprises, which are naturally more risk-averse and slower to adopt innovation. “That's why bringing corporates into the event is so important. In the first year we had fewer than ten corporate participants. Today we have more than sixteen major companies involved because they've realised there's real value here. They can meet founders, provide feedback, discover new technologies and build partnerships.” One of the things I noticed attending was the number of people from local industry attending, including Ferrari, Unipol, Ducati, Generali, Intesa Sanpaolo Private, JP Morgan, Chiesi Farmaceutici, CNH Industrial, Dallara Automobili, and Menarini Silicon Biosystems. ​This meant that early-stage startups can actually speak directly with potential customers and ask, "Would this solve your problem?" Cillario asserts: “Here, almost every conversation is meaningful. We've deliberately brought together innovators, startups, corporates and investors who are actively building companies rather than simply attending another conference.” Cillario admits that planning, coordinating, and running the event takes time and energy, but that some of the things the team is most proud of are meeting founders who attended the Gathering a couple of years ago when they were starting out and seeing that today they've launched companies and raised millions. “Some of them will probably become even more successful than we are — and that's exactly what we want. If you really want an ecosystem to thrive, you have to contribute while you're building your own company, not only once you've already made it.” That ecosystem is now being reinforced by one of Europe's biggest investments in AI and supercomputing infrastructure. Founders are returning to Italy "Brain circulation" is becoming a defining feature of the Italian ecosystem. Rather than simply lamenting brain drain, Italy is increasingly benefiting from founders who gained experience in London, Silicon Valley, Australia and elsewhere before returning with capital, international networks and scale-up expertise. Simone Mancini came back from Australia to co-found fintech unicorn Scalapay. Luca Ferrari returned to Milan to build Bending Spoons into one of Europe's largest software companies. More recent examples include Unobravo founder Danila De Stefano, who developed the idea while living in London, and Simone Di Somma, who returned after selling his Y Combinator-backed startup Innaas to SAP to launch cybersecurity company Cyberwave. Italian founder Iris Skrami opted to move back to Italy from the Netherlands, where she founded digital product passports (DPP) startup Renoon.   She contends that “as we looked at where the market opportunity was, it became clear that fashion would be one of the first industries affected by DPP requirements. Italy has one of the world's strongest fashion industries, so it made sense to build the company here.” Further, she notes that because many of the startup’s early customers are traditional, family-owned Italian brands, “they still retain operational control, and decision-making is often faster. Many are already asking us to sign multi-year contracts because they're concerned prices will increase once regulation comes fully into force." Bologna's €1 billion AI infrastructure play Those returning founders are also benefiting from a rapidly expanding research infrastructure. Bologna is one of Europe's leading centres for AI, supercomputing and data-intensive research. At the heart of its transformation is the Bologna Technopole, a science and innovation campus developed by the Emilia-Romagna Region and Italy's Ministry of University and Research. The scale of the investment is impossible to miss. During my visit to the DAMA Tecnopole, I could occasionally hear the sounds of engineers installing supercomputers just a few hundred metres away —  part of a €1 billion infrastructure programme. The Technopole brings together multiple players, including supercomputing research centre CINECA, the weather forecasting institute  ECMWF, and the National Institute for Nuclear Physics NFN. At its centre is IT4LIA AI Factory, Italy's national AI factory, which combines world-class high-performance computing with technical support and free access to computing resources for eligible startups, SMEs, researchers and public organisations. That capability expanded significantly in June when the National Research Centre for High Performance Computing, Big Data and Quantum Computing (ICSC) launched five new high-performance computing systems at the DAMA data centre. The additions — including the AI-optimised LISA system and cloud-native GAIA platform — add to the Leonardo and MEGARIDE, giving the AI Factory access to more than 20,000 GPUs and creating one of Europe's most powerful AI computing platforms while strengthening the continent's technological sovereignty. Turning research into startups Image: BI_REX. Photo: Giacomo Maestri. BI-REX (Big Data Innovation & Research Excellence) helps startups and scaleups turn advanced technologies into commercial products. Its flagship "Test Before Invest" programme lets startups validate technologies before committing significant capital. Companies can build proofs-of-concept, test products on BI-REX's smart factory pilot line, and access robotics, AI platforms, additive manufacturing, digital twins, IoT infrastructure, 5G and HPC without buying the equipment themselves. BI-REX also supports startups with technology assessments, collaborative R&D projects, access to finance, market validation and acceleration programmes, as well as specialised training in AI, digital manufacturing and Industry 4.0 technologies to build the skills needed to scale. ​ Bologna has built a broad support network for founders. These include COBO Accelerator, which backs startups developing digital and industrial technologies; G-Factor focusing on life sciences, digital health, AI and emerging technologies; and the University of Bologna's innovation hub Almacube. A maturing startup ecosystem Italy's startup ecosystem is also showing growing momentum. The country is now home to 17 unicorns worth a combined $44.6 billion, including Prima and Namirial, which reached unicorn status in 2025. Activity in early 2026 reflected the breadth of the market, with funding rounds ranging from D-Orbit's $62 million Series D in space logistics and Subbyx's $35 million Series A to Dronus' $17 million raise in drone technology. Niulinx, a spinout from the Polytechnic University of Milan, also secured Europe's largest-ever autonomous driving seed round at $38 million. According to PitchBook, Italy recorded 225 VC funding rounds in the first quarter of 2026 — up 80 per cent year on year and the highest quarterly total in the past decade. Cillario contends that Italian startups have also become much more mature. “Startups are increasingly focused on attracting international capital, and international investors now recognise that Italy offers outstanding opportunities. Much of the technology comes from universities and research centres, so the quality is extremely high.” He describes Bologna and the Emilia-Romagna region as “an incredibly wealthy region with a strong industrial base and significant private capital.” Even unlocking a tiny fraction of that capital would dramatically increase venture investment in Italy. “It's also exceptionally well connected. Milan is about an hour away, Turin around two hours, and Rome isn't far either. More and more companies are choosing to start or relocate here, and I think that's a very positive sign.” For all its ecosystem investment and momentum, one of the strongest views I hear when talking to people in the Italian startup ecosystem is the need for cultural change. Skrami admits that Italy can sometimes feel quite closed compared with other startup ecosystems. She shared a view I’ve heard before — Italians often prefer to build quietly rather than talk publicly about what they're doing. Once, I even attended an event in Italy where a startup exhibiting told me they didn’t want any international press. She explained that “In many ways, people feel that talking too much about their success somehow diminishes it.” For Cillario and Onofri, changing that mindset has always been part of the mission. Building Cubbit and helping build Bologna's startup ecosystem were never separate projects—they were two parts of the same ambition. Companies to watch Daidalos Daidalos is a semiconductor IP company that designs and licenses accelerator cores for industries including high-performance computing, automotive, IoT, defence, and space. Rather than manufacturing complete chips, it provides integration-ready IP that customers can incorporate into their own processors, helping reduce development time, costs, and technical risk while retaining control over product design. GeneSys Bio GeneSys Bio is a medtech company developing portable molecular diagnostics for the rapid detection of infectious diseases. Its PCR-based platform delivers laboratory-quality results in under an hour, enabling clinicians to identify pathogens and antibiotic resistance at the point of care without the need for a fully equipped laboratory. Initially focused on urinary tract infections, the company's technology aims to make fast, accurate, and affordable genetic testing more accessible across human, veterinary, and environmental diagnostics. ​ Magnetic Future Spun out of the University of Bologna and Mercatorum University, Magnetic Future develops compact, contactless power supplies — known as flux pumps — for superconducting magnets. These magnets are essential to technologies including nuclear fusion, MRI systems, wind energy, scientific equipment and space propulsion. Existing power systems for large superconducting magnets can be expensive, energy-intensive and physically enormous. Magnetic Future’s technology is intended to keep electrical current circulating inside a superconducting magnet without the conventional high-current electrical connections. In one example involving an Italian fusion experiment, Magnetic Future estimates its flux pump technology could reduce annual energy costs from more than €1 million to less than €5,000, illustrating the potential efficiency gains of its approach to powering superconducting magnets. ​ Trailslight Trailslight is a smart infrastructure company using AI and sound analysis to make public street lighting more efficient. Instead of relying on cameras or additional roadside sensors, its devices are installed directly on existing streetlights, where they analyse ambient sounds in real time to detect traffic levels, classify different types of vehicles, monitor weather conditions, and measure environmental noise. Based on this information, the system automatically adjusts streetlight brightness to match actual road conditions, improving safety while reducing unnecessary energy consumption. Trailslight says its adaptive lighting can reduce public lighting energy consumption by 40 to 60 per cent, helping cities lower both electricity costs and carbon emissions. ​ O-Damp O-Damp is spun out from the University of Bologna and is developing advanced impact-protection technology for safety helmets. It created a patented insert that can be integrated into existing helmet designs to protect riders from traumatic brain injuries better better. The company's technology addresses one of the biggest causes of serious head injuries: rotational forces created when a helmet strikes the ground or another object at an angle. Unlike conventional helmets that primarily absorb direct impacts, O-DAMP uses a dual-layer structure combining expanded polystyrene (EPS) foam with pads filled with a non-Newtonian material. During an oblique impact, these inner pads allow controlled movement between the helmet layers, dissipating rotational energy before it reaches the wearer's head and helping reduce the risk of concussion and traumatic brain injury. Its initial focus is motorcycle helmets, but the technology is designed to be adapted for cycling, skiing, equestrian sports and workplace safety equipment.

The managing director of the little-known French startup thrown into the spotlight when it was chosen by France’s domestic intelligence services to replace controversial US data analytics giant Palantir doesn’t like the company being called the “European Palantir”. Silvano Sansoni, managing director of the 2019-founded ChapsVision, says: “We are a very different company. I wouldn’t match ChapsVision as a European Palantir. “For advertising it is a good comparison, but we are really a different company. We have different values. We work on a different philosophy.” Palantir ditched The surprise move to ditch Palantir was announced by France in June this year. Palantir had initially signed a contract with France's intelligence services, known as the DGSI, in 2016, after the 2015 Bataclan attacks, and had its contract renewed several times, including six months ago. France's prime minister Sébastien Lecornu called ditching Palantir a move to avoid “strategic dependency”. Lecornu posted on social media: “We must use our own AI models; we cannot accept new strategic dependencies in the digital sphere. “We cannot rely on tools developed by foreign powers. France must have its own tools.” The move came amid heightened concern among European governments at their reliance on overseas, particularly US, tech. Contract bounce  Winning the DGSI contract, which covers data collection preparation and data analytics in France’s fight against terrorism, has given ChapsVision a bounce, says Sansoni. He says ChapsVision, which provides software to help clients analyse large datasets, is “currently talking with basically all of the European governments”, naming governments in Poland, Germany, Denmark, Switzerland and Luxembourg.    While not naming any inked deals, the German intelligence services recently chose ChapsVision over US rivals.  High-profile DGSI contract  He says the DGSI deal, reported to be worth around €10m, has helped “launch ChapsVision”, adding that before “we were a very discreet company”. According to Sansoni, who has been in MD role for one year, the DGSI is the “front client" but “the scope of our contract is for all of the French state, including all the government administration and agencies”. One big issue will be migrating the DGSI’s “complex” systems from Palantir to ChapsVision, which could take between 12 and 18 months, says Sansoni.  Can ChapsVision match Palantir?  But can this relatively unknown and relatively inexperienced startup, whose annual revenues are approximately €200m compared to the €3.9bn of Palantir, which has wide-ranging US government experience, successfully fulfil the DGSI contract?  ChapsVision’s pitch is that it lets its customers control their tech, satisfying sovereignty demands, a red-hot issue with the French government. Sansoni points out that ChapsVision, which is based in a Paris suburb and employs around 1,100 people, is a younger firm than Palantir, which, he says,  has helped it develop more modern tech. For example, he highlights its “very strong” security offering. While it’s not an AI model provider, Sansoni says it provides customers with agentic applications such as translation.   Sovereign solution But what about potential data leaks? ChapsVision says that having a sovereign solution means there is a trusted provider to handle customer concerns. Is sovereignty a bigger issue for European governments or European companies? Sansoni says potential customers, be it governments or businesses, want to work with providers, like ChapsVision, which provide sovereign, transparent tech which customers are not locked into for a long time.   Customer mix   Currently, around 65 per cent of ChapsVision’s customers come from France, around 20 per cent from the US, with the rest spread across Europe, Japan and Singapore. Around 45 per cent of its revenues come from governments, the rest from companies, including big names like Pfizer, Boeing and Exxon Mobil. ChapsVision founder Olivier Dellenbach, a serial entrepreneur, has built ChapsVision through 29 acquisitions to date, prompting questions about the integration of disparate businesses spanning CRM, AI, phone tracing and security services. Sansoni says ChapsVision hopes to fully integrate its various businesses by 2027.   2030 IPO? The goal for ChapsVision is to IPO by 2030 at the latest, Sansoni says, when it hopes to hit €1bn in revenues, a gap of €800m to make up. The aim is for 75 per cent of the €800m to come through acquisitions and the rest through organic growth, he says. ChapsVision, which has raised around €275m to date, including funding from private equity firm Jolt Capital and French public investment bank Bpifrance, will carry out further funding rounds to finance future acquisitions.  Moving forward, key markets for ChapsVision are the US and Germany, says Sansoni. He adds: “We are still a French company. Our objective is to become a European champion with global reach.”

The managing director of the little-known French startup thrown into the spotlight when it was chosen by France’s domestic intelligence services to replace controversial US data analytics giant Palantir doesn’t like the company being called the “European Palantir”. Silvano Sansoni, managing director of the 2019-founded ChapsVision, says: “We are a very different company. I wouldn’t match ChapsVision as a European Palantir. “For advertising it is a good comparison, but we are really a different company. We have different values. We work on a different philosophy.” Palantir ditched The surprise move to ditch Palantir was announced by France in June this year. Palantir had initially signed a contract with France's intelligence services, known as the DGSI, in 2016, after the 2015 Bataclan attacks, and had its contract renewed several times, including six months ago. France's prime minister Sébastien Lecornu called ditching Palantir a move to avoid “strategic dependency”. Lecornu posted on social media: “We must use our own AI models; we cannot accept new strategic dependencies in the digital sphere. “We cannot rely on tools developed by foreign powers. France must have its own tools.” The move came amid heightened concern among European governments at their reliance on overseas, particularly US, tech. Contract bounce  Winning the DGSI contract, which covers data collection preparation and data analytics in France’s fight against terrorism, has given ChapsVision a bounce, says Sansoni. He says ChapsVision, which provides software to help clients analyse large datasets, is “currently talking with basically all of the European governments”, naming governments in Poland, Germany, Denmark, Switzerland and Luxembourg.    While not naming any inked deals, the German intelligence services recently chose ChapsVision over US rivals.  High-profile DGSI contract  He says the DGSI deal, reported to be worth around €10m, has helped “launch ChapsVision”, adding that before “we were a very discreet company”. According to Sansoni, who has been in MD role for one year, the DGSI is the “front client" but “the scope of our contract is for all of the French state, including all the government administration and agencies”. One big issue will be migrating the DGSI’s “complex” systems from Palantir to ChapsVision, which could take between 12 and 18 months, says Sansoni.  Can ChapsVision match Palantir?  But can this relatively unknown and relatively inexperienced startup, whose annual revenues are approximately €200m compared to the €3.9bn of Palantir, which has wide-ranging US government experience, successfully fulfil the DGSI contract?  ChapsVision’s pitch is that it lets its customers control their tech, satisfying sovereignty demands, a red-hot issue with the French government. Sansoni points out that ChapsVision, which is based in a Paris suburb and employs around 1,100 people, is a younger firm than Palantir, which, he says,  has helped it develop more modern tech. For example, he highlights its “very strong” security offering. While it’s not an AI model provider, Sansoni says it provides customers with agentic applications such as translation.   Sovereign solution But what about potential data leaks? ChapsVision says that having a sovereign solution means there is a trusted provider to handle customer concerns. Is sovereignty a bigger issue for European governments or European companies? Sansoni says potential customers, be it governments or businesses, want to work with providers, like ChapsVision, which provide sovereign, transparent tech which customers are not locked into for a long time.   Customer mix   Currently, around 65 per cent of ChapsVision’s customers come from France, around 20 per cent from the US, with the rest spread across Europe, Japan and Singapore. Around 45 per cent of its revenues come from governments, the rest from companies, including big names like Pfizer, Boeing and Exxon Mobil. ChapsVision founder Olivier Dellenbach, a serial entrepreneur, has built ChapsVision through 29 acquisitions to date, prompting questions about the integration of disparate businesses spanning CRM, AI, phone tracing and security services. Sansoni says ChapsVision hopes to fully integrate its various businesses by 2027.   2030 IPO? The goal for ChapsVision is to IPO by 2030 at the latest, Sansoni says, when it hopes to hit €1bn in revenues, a gap of €800m to make up. The aim is for 75 per cent of the €800m to come through acquisitions and the rest through organic growth, he says. ChapsVision, which has raised around €275m to date, including funding from private equity firm Jolt Capital and French public investment bank Bpifrance, will carry out further funding rounds to finance future acquisitions.  Moving forward, key markets for ChapsVision are the US and Germany, says Sansoni. He adds: “We are still a French company. Our objective is to become a European champion with global reach.”

Sigvi, an AI-powered revenue platform for the car rental industry, has raised €1.2 million in pre-seed funding to accelerate product development and international expansion. The round was led by Superhero Capital, with participation from Vladas Lašas, Chairman of the Lithuanian Business Angel Network (LitBAN) and co-founder of the Carbon War Room, alongside other angel investors. Founded by Vytis Šliažas (CEO), Ignas Gibas (COO), and Mindaugas Banaitis (CTO), Sigvi enables independent fleet operators and private owners to offer vehicles through a fully automated rental platform. Rather than owning vehicles itself, the company aggregates existing fleets and uses AI to manage the entire rental lifecycle, including dynamic pricing, bookings, keyless 24/7 access, automated vehicle inspections, predictive maintenance scheduling, and customer support. The company launched operations in Poland in June 2026 and currently manages more than 200 vehicles serving both tourists and long-term renters. The expansion comes amid continued growth in European tourism. According to Eurostat, travellers spent nearly 3.1 billion nights in tourist accommodation across the EU in 2025, while many car rental processes remain largely manual. Europe is travelling more than ever, but the car rental experience hasn't evolved at the same pace. Travellers expect to book a car as easily as they book accommodation. Meanwhile, thousands of quality vehicles owned by independent operators sit idle because they lack the technology to reach those customers. We're building the AI layer that connects both sides, unlocking cheaper, greener, and fully digital car rental, said Vytis Šliažas, CEO and co-founder of Sigvi. Sigvi connects travellers with vehicles from independent fleet operators through its platform. The company says its offering is typically priced around 30 per cent below traditional international rental brands while making greater use of existing second-cycle vehicles. The investment will support the continued development of Sigvi's AI automation platform and the expansion of its managed vehicle network.

Sigvi, an AI-powered revenue platform for the car rental industry, has raised €1.2 million in pre-seed funding to accelerate product development and international expansion. The round was led by Superhero Capital, with participation from Vladas Lašas, Chairman of the Lithuanian Business Angel Network (LitBAN) and co-founder of the Carbon War Room, alongside other angel investors. Founded by Vytis Šliažas (CEO), Ignas Gibas (COO), and Mindaugas Banaitis (CTO), Sigvi enables independent fleet operators and private owners to offer vehicles through a fully automated rental platform. Rather than owning vehicles itself, the company aggregates existing fleets and uses AI to manage the entire rental lifecycle, including dynamic pricing, bookings, keyless 24/7 access, automated vehicle inspections, predictive maintenance scheduling, and customer support. The company launched operations in Poland in June 2026 and currently manages more than 200 vehicles serving both tourists and long-term renters. The expansion comes amid continued growth in European tourism. According to Eurostat, travellers spent nearly 3.1 billion nights in tourist accommodation across the EU in 2025, while many car rental processes remain largely manual. Europe is travelling more than ever, but the car rental experience hasn't evolved at the same pace. Travellers expect to book a car as easily as they book accommodation. Meanwhile, thousands of quality vehicles owned by independent operators sit idle because they lack the technology to reach those customers. We're building the AI layer that connects both sides, unlocking cheaper, greener, and fully digital car rental, said Vytis Šliažas, CEO and co-founder of Sigvi. Sigvi connects travellers with vehicles from independent fleet operators through its platform. The company says its offering is typically priced around 30 per cent below traditional international rental brands while making greater use of existing second-cycle vehicles. The investment will support the continued development of Sigvi's AI automation platform and the expansion of its managed vehicle network.

London-based AI waste intelligence company Greyparrot has raised $27 million in Series B funding, bringing its total funding to $60 million. The round was led by technology investor Omar Mir and comes after Greyparrot's AI platform surpassed one trillion detected waste objects. Founded by Mikela Druckman, Ambarish Mitra, and Nikola Sivacki, Greyparrot develops AI-powered camera systems that monitor waste streams in real time, helping recycling facilities identify materials, products and brands as they move along sorting lines. Installed above conveyor belts, the company's Analyzers provide continuous data that enables operators to improve material recovery, optimise sorting processes and support regulatory compliance. As governments introduce stricter requirements around recycling, packaging and material reporting, waste operators and consumer goods companies are seeking better visibility into waste flows. Greyparrot's technology is used by waste management companies including WM, Circular Services, Veolia, Biffa and FCC to improve recovery rates, monitor material quality and optimise facility performance. Brands such as Unilever, L'Oréal and Kenvue also use the company's Deepnest platform to better understand how packaging performs after disposal and to support compliance with Extended Producer Responsibility regulations and the EU Packaging and Packaging Waste Regulation. In early 2026, the UK's Environment Agency accepted AI-generated waste composition data from Greyparrot for statutory compliance reporting, marking the first time such data has been used for this purpose. The milestone underscores Greyparrot's growing role in waste intelligence. Commenting on the company's next phase of growth, Mikela Druckman, co-founder and CEO of Greyparrot, said: Waste is one of the planet's largest untapped resources, and data is the infrastructure that unlocks it. This funding lets us scale rapidly across North America and Europe and grow our AI, data science and product teams. The technology, market demand, urgency and momentum are all here, and we are ready to scale our impact. The company's growth has been supported by its AI platform, which has now analysed more than one trillion waste objects across its global network. The resulting data helps recover valuable materials, improve operational decision-making and support the transition to a more circular economy. Beyond improving recycling operations, Greyparrot sees waste intelligence can reshape how materials are valued and managed across the wider economy. Waste intelligence will do for materials what satellite data did for navigation. For decades, waste has been a blind spot. Nations compete for resources while burying and burning existing resources. What's been missing is the ability to measure what they’re losing. Once you can measure a material, you can trade it and invest in it. That is when the circular economy stops being an ambition and becomes infrastructure, said Ambarish Mitra, co-founder of Greyparrot. Greyparrot will use the new funding to expand across North America and Europe, grow its AI, data science and product teams, nd scale its technology to help recover more than one million tonnes of waste by 2030.

Munich-based logistics AI startup 5U AI has raised $3.2 million in pre-seed funding to scale its digital workforce platform for freight forwarding teams. The round was led by London-based Emerge Capital. Founded in 2025 by Technical University of Munich graduates Yagiz Abik and Fehmi Şener, 5U AI develops AI-powered digital workers that automate operational tasks across air, sea and road freight. Its platform integrates with existing freight systems to manage tasks including quoting, bookings, shipment tracking, invoice reconciliation, data entry and routine administration. Unlike conventional automation tools, the platform records the reasoning behind each operational decision through its Decision Layer, giving freight teams visibility into how work is completed. It also builds a knowledge base that can help improve future processes. The system is trained specifically for logistics workflows, including the complex exceptions and manual decisions that are difficult to automate using generic AI tools. The platform is already in use by freight forwarders and carriers across Europe, supporting air and ocean freight operations. The company is backed by experienced logistics industry executives. Freight forwarding is full of decisions that are still trapped in inboxes, spreadsheets, and people's heads. We are not building another chatbot that answers questions and disappears, we are building AI Workers that understand freight operations, carry out the work, and capture the reasoning behind every decision, so teams can scale their knowledge as well as their capacity, said Yagiz Abik, CEO of 5U AI. 5U AI will use the funding to accelerate product development, expand its go-to-market activities across Europe, and grow its team across product, engineering, operations, commercial and customer-facing roles.

UK wind technology company Perceptual Robotics has secured over £4 million in funding so far this year. The funding combines investment from new and existing shareholders, including Investing for Purpose, Loggerhead Ventures and One Planet Capital, alongside support co-funded by Innovate UK, part of UK Research and Innovation (UKRI). Founded to improve the inspection and maintenance of wind turbines, Perceptual Robotics develops autonomous inspection systems and AI-powered software that help operators identify blade damage, prioritise repairs, and manage wind turbine fleets more efficiently. The company's technology is designed to reduce inspection times, improve maintenance planning, and extend the operational life of turbine blades. Since its previous funding round, Perceptual Robotics has expanded its customer base across Europe, North America, and Latin America. Its technology is now used to inspect wind turbines in environments ranging from the forests of northern Sweden to the Caribbean, including some of the world's largest turbines. The company says its product development has been shaped by close collaboration with wind farm operators, service providers, and blade specialists, leading to the introduction of autonomous inspection capabilities, AI-assisted damage detection, the Repair Now Ratio, and platform integrations. This funding is a vote of confidence in the work our team has put in over the last few years, and in the direction we're taking the business. It gives us the resources to move faster on the products our customers are asking for, said Kostas Karachalios, CEO of Perceptual Robotics. Perceptual Robotics will use the funding to expand its product offering for the wind industry, strengthen its offshore capabilities, increase its presence in existing and new markets, and continue scaling the inspection and maintenance technologies used by its customers.

Swiss quantum computing startup ZuriQ has raised $25.5 million in seed funding to accelerate the development of its trapped-ion quantum processors. The round was led by Quantonation, with participation from Forward.one, Extantia, Firgun Ventures, and existing investors. The investment follows the company's $4.2 million pre-seed round in 2025. Founded as a spin-out from ETH Zürich, ZuriQ is developing a new generation of trapped-ion quantum processors designed to overcome the scalability limitations of conventional architectures. While most trapped-ion quantum computers rely on one-dimensional ion chains connected through complex junctions, ZuriQ has developed a native two-dimensional architecture based on Penning micro-traps. By replacing the oscillating electric fields used in conventional systems with a static magnetic field, the company's architecture enables ions to move freely across the chip, increasing connectivity while simplifying scaling. ZuriQ has already demonstrated its approach with a working prototype developed in collaboration with researchers at ETH Zürich. The demonstrator features a three-by-three array of nine individually controlled ions, representing the largest two-dimensional trapped-ion array of its kind to date. The underlying chips were fabricated with manufacturing partner Infineon using established semiconductor production processes, supporting the company's strategy of scaling the technology through existing manufacturing infrastructure. The company is now focused on increasing the number of qubits its processors can support to enable commercially viable quantum systems. Dr Pavel Hrmo, co-founder and CEO of ZuriQ, said the company deliberately pursued a two-dimensional architecture from the outset, believing it offers a more scalable alternative to conventional trapped-ion designs and a faster path towards industrial applications. ZuriQ will use the new funding to expand its team, accelerate research and development, scale chip fabrication, and increase the number of qubits supported by its quantum processor architecture.

As governments race to define digital sovereignty and enterprises reconsider their dependence on hyperscale cloud providers, most of the debate remains theoretical. Dominique Williams, founder and Chief Scientist of DFINITY, proposes a way forward. DFINITY has spent more than a decade building an alternative to the traditional cloud: a decentralised computing platform designed to let governments and enterprises retain control over where their applications run, who operates the infrastructure and how data is governed. The concept moved beyond theory earlier this year. At the World Economic Forum in Davos, DFINITY launched the Swiss Subnet, a sovereign cloud deployment running entirely on 13 independent node providers located within Switzerland. Rather than relying on contractual assurances from a hyperscaler, the infrastructure is designed to provide cryptographically verifiable data sovereignty through an open protocol. The approach is already attracting international interest. Pakistan is now building a national subnet based on the same architecture, becoming the first country to deploy a decentralised sovereign cloud platform at nation-state scale. Building a different kind of cloud DFINITY is attempting to build a decentralised alternative to traditional cloud infrastructure. Rather than using blockchains to record transactions, the Internet Computer is designed to run complete software applications —including backend logic, data storage, APIs and, in some cases, frontend assets — across a distributed network. Williams says the idea for the Internet Computer came from viewing blockchain differently. "If you treat a blockchain as a system that can host tokens, then in principle it can also host code." Traditional web applications typically have three layers: Frontend: the website or mobile interface. Backend: application logic running on cloud servers. Database: where data is stored. With DFINITY, much of the backend and data storage can run on-chain inside "canisters"—software containers that combine code and state. Instead of deploying backend services to AWS or Google Cloud, developers deploy them to the Internet Computer network, where they run across independently operated data centres. The network's native token, ICP, is converted into "cycles," which pay for computation and storage. Developers can fund these cycles themselves, meaning end users don't necessarily need to own cryptocurrency to use an application. For Williams, sovereign cloud is not simply about where servers are located. It is about eliminating dependence on any single infrastructure provider while giving organisations the ability to move workloads, configure trusted infrastructure and maintain control over their software without vendor lock-in. "We're trying to create something that functions much more like the internet itself," he said. Cloud Engine: separating applications from infrastructure One of DFINITY's biggest recent developments is Cloud Engine, which allows organisations to create their own Internet Computer subnet while deciding exactly where it runs, who operates it and the security trade-offs they want to make. "You can decide exactly which node providers you trust, where those nodes are located and what trade-offs you want to make," Williams said. "For example, you might choose providers located entirely within Europe to maximise resilience while remaining GDPR compliant." Companies can configure the geographic distribution, resilience and security characteristics of their infrastructure according to their own requirements. Applications inherit those properties automatically because they run on the configured subnet. Unlike today's Internet Computer deployments, Cloud Engine is not limited to dedicated hardware. Organisations will be able to run nodes across hyperscale cloud providers including Amazon Web Services, Google Cloud and Microsoft Azure, alongside traditional infrastructure or sovereign hardware. That flexibility also makes Cloud Engine far easier to adopt. "Most organisations don't need enormous amounts of compute power," he said. "They could potentially run a Cloud Engine for only a few hundred dollars a month." Cloud Engine's biggest architectural innovation is that it separates applications from the underlying infrastructure. Rather than tying workloads to a specific cloud provider, the infrastructure itself can change while applications continue running. "Cloud Engine is essentially just a protocol configuration," Williams said. "That means you can change the underlying infrastructure without interrupting the applications running on it." For example, an organisation could initially deploy its Cloud Engine across Amazon Web Services before later migrating entirely to Google Cloud without taking applications offline. New nodes are added, synchronised and brought into service before the original nodes are removed. "It's a bit like a spider walking from one branch to another," Williams said. "The infrastructure moves beneath the applications without them ever noticing." The same approach allows organisations to move from inexpensive public cloud infrastructure to dedicated sovereign hardware as their deployments grow, or to replace smaller compute nodes with more powerful ones without disrupting running services. "Your applications inherit different security properties depending on how you configure that private subnet, or Cloud Engine. It gives organisations a level of control that hasn't previously existed." The result is that sovereignty becomes something enforced by the technology itself rather than by agreements with cloud providers. ​ Why cloud sovereignty needs more than geography However, Dominique Williams remains sceptical of the concept of sovereignty when using software produced by an American company; even if its data is hosted elsewhere, it's still governed by US law under the US CLOUD Act. “One argument I often hear is that contracts prevent Google from providing access to customer data. My response is that contracts can't override legislation. If a contractual clause conflicts with the CLOUD Act, then the law takes precedence. The clause may exist, but legally it doesn't change the situation.” Another argument is that the environment is "air-gapped." But if government employees can access the system, then by definition it isn't truly air-gapped.” He argues the real question is how many people have legitimate access to a system, and what happens if even one endpoint is compromised. “Whether that's through malware, credential theft or another attack vector, you've potentially opened a path into the environment. From my perspective, genuine sovereignty requires genuinely sovereign infrastructure and sovereign software.“ Pakistan: sovereign cloud at national scale Cloud Engine allows countries to build genuinely sovereign cloud infrastructure based on open-source technology, while benefiting from mathematically verifiable security guarantees. In February, the Pakistan Digital Authority (PDA) and the DFINITY Foundation signed an MoU to create a dedicated Pakistan Subnet on its Internet Computer Platform (ICP). It includes plans for a National Messenger application enabling private, verifiable communications; expanded access to Caffeine, an AI platform incubated by DFINITY; 1,500 licenses of Caffeine to create applications; and capacity-building initiatives across government, education, and entrepreneurship. Williams said the opportunity in Pakistan arose because DFINITY’s Chief Development Officer, based in the Middle East, had relationships there. But he believes countries such as Pakistan are also confronting different infrastructure challenges. “Redundancy across multiple data centres is particularly valuable, especially in regions where infrastructure resilience is a major concern. For years I've argued that data centres will increasingly become targets — whether through terrorism, cyberattacks or armed conflict. Unfortunately, recent events in the Middle East have reinforced that concern. Cloud Engine addresses that problem by allowing applications to continue running even if underlying infrastructure is disrupted.” He predicts a future with deployments across the Middle East running on multiple cloud providers such as Amazon Web Services, where if one data centre is affected, the applications continue operating because the infrastructure is distributed. When the user becomes the product manager Pakistan's agreement also includes expanded access to Caffeine, DFINITY's AI application-building platform. However, Williams sees the technology as representing a much broader shift in how companies will create software. Rather than helping developers write code faster, Caffeine allows users to describe an application in natural language while an entire team of AI agents designs, builds and deploys it. "When people use tools like Caffeine, they aren't interacting with a single AI model," Williams explained. "Behind the scenes there's an entire team of specialised AI agents, much like a human software organisation." Those agents take on the roles of front-end and back-end engineers, architects, security reviewers, testers and UX specialists, working together to build the application. In this model, the user becomes the product manager rather than the programmer. "When a non-technical person uses the platform, they're effectively acting as the product manager. Instead of managing a human engineering team, they're directing an automated one. That fundamentally changes software development." ​ The end of the developer-led platform era? According to Williams, the company has made a very deliberate strategic shift towards sovereign cloud infrastructure “because we believe the market itself is changing.” “Historically, software platforms were chosen by developers. If someone spent ten years mastering technologies such as Node.js, Kubernetes, PostgreSQL and Amazon Web Services, they naturally wanted to continue using those tools. They'd invested years building those skills, and employers were hiring for them. That's how technology ecosystems develop — through network effects.” However, he contends that increasingly, AI agents will be responsible for building software without factoring in which frameworks are in fashion and most familiar to developers. “They simply evaluate which platform best solves the problem.” As a result, there are instances where product managers and business leaders are becoming more effective at creating applications than traditional software engineers—not because they write better code, but because they understand the customer and can direct AI more effectively. “That changes the evaluation criteria completely." Instead of asking, "Is this the framework developers already know?", organisations start asking different questions: Can AI build effectively on this platform? How much does it cost? Is it secure? Is it resilient? Does it avoid vendor lock-in? Those are very different priorities, and we believe they'll increasingly shape the next generation of cloud infrastructure,” shared Williams. As AI changes how software is built, the criteria for choosing cloud infrastructure may change with it. If developers are no longer the primary decision-makers, portability, resilience and digital sovereignty could become as important as the programming frameworks and cloud ecosystems that have dominated the industry for the past decade.

A Spanish scaleup looking to make AI cheaper and more efficient for enterprises says it is targeting up to $570m in its latest funding round, at an elevated $1.7bn valuation. Multiverse Computing is working at the intersection of AI and quantum, providing tech which it claims can reduce the size of LLMs amid demands for cheaper AI compute. The funding round in Multiverse Computing is co-led by Forgepoint Capital International, BNPP SIVF, and Bullhound Capital. The round, which is still open, also includes commitments from Santander Alternative Investments, Tikehau Capital, Orange Ventures and Scania Invest amongst others, the scaleup said. Once complete, total funding in Multiverse Computing will be around $800m, it said. The $1.7bn valuation would mark a five-fold increase on its Series B valuation when it raised $215m, the scaleup said. Multiverse Computing's bet is that AI is increasingly moving towards edge devices, such as mobile phones and smart cameras, in a bid to make AI cheaper and more energy efficient by processing data directly on devices rather than relying on large data centres. The scaleup’s key technology is called CompactifAI, which is based on quantum physics, and makes LLMs smaller, cheaper and able to run on edge devices, it said. It says its tech reduces the size of LLMs by up to  80-95 per cent with immaterial accuracy loss. Multiverse Computing's tech is already being deployed across devices and systems, including drones, cameras, satellites, vehicles, and telecom infrastructure. Customers and partners span manufacturing, finance, energy, aerospace, cybersecurity, defense, and health and life sciences, including Allianz, Bank of Canada, Bosch, Iberdrola, Indra, PwC, and Telefónica, it said. Damien Henault, managing director & partner, Forgepoint Capital International, said: "Multiverse sits at the intersection of the infrastructure and the application layers and has evolved from being the leading downstream LLM compression technology to becoming a complete AI foundry and Operating System. It is the only company we've seen that has both the technical foundation and the commercial traction to be that critical platform."

Beelzebub, an Italy-based cybersecurity startup developing an AI-native platform to protect organisations from AI-driven cyberattacks, has raised a €3 million seed funding round led exclusively by United Ventures. The investment follows a €300,000 pre-seed round backed by strategic investors and advisors, bringing the company's total funding to €3.3 million. Founded by Mario Candela, Beelzebub is addressing the growing challenge posed by AI-powered cyberattacks, which enable attackers to automate vulnerability discovery, generate custom malware and launch large-scale attacks at machine speed. As cyber threats become increasingly sophisticated and regulatory frameworks such as the NIS2 Directive and the Cyber Resilience Act raise security requirements across Europe, organisations are under pressure to strengthen their cyber defences. Rather than relying solely on perimeter protection, Beelzebub operates on an assumed-breach model, detecting malicious activity from attackers already inside a network. Its platform combines attack simulation, deception technology and automated threat analysis to identify, isolate and respond to threats before they can cause damage. The platform consists of three integrated components. Arcangelo simulates targeted attacks to continuously test an organisation's defences, while Beelzebub Managed deploys AI-powered decoy infrastructure that attracts and detects attackers inside a network. Once a threat is identified, Caronte, the platform's AI malware analyst, automatically reverse-engineers malicious software and generates incident reports, either in the cloud or fully on-premises for organisations with strict data security requirements. The platform is available as both a SaaS solution and an on-premises deployment and is designed to meet NIS2 compliance requirements. Mario Candela, CEO and founder of Beelzebub, said that the rise of AI-powered attackers has fundamentally changed cybersecurity, requiring organisations to complement human expertise with AI-based systems capable of responding at machine speed: Beelzebub's product adapts to new types of malware and is always updated to match the current state of the most sophisticated attacks. This seed round will supercharge our efforts to bring modern cybersecurity to the companies who cannot afford to compromise. Beelzebub will use the new funding to expand its research team, open commercial offices in Rome and San Francisco by the end of the year, accelerate customer acquisition across Europe with a particular focus on organisations subject to NIS2 requirements, and continue developing new technologies designed to protect AI agents directly.

Last week, we tracked more than 50 tech funding deals worth over €1 billion and over 10 exits, M&A transactions, rumours, and related news stories across Europe. ? The top three industries that raised the most were cleantech (€431.7 million), fintech (€158 million), and robotics (€138.5 million). At the country level, ?? the UK took first place (€629.5 million), followed by ?? Germany (€295.9 million) and ?? Italy (€34 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: Jeff Bezos and Sovereign AI back CuspAI in $450M raise GERMANY: Augustus secures $180M Series B UK: Robotics startup Humanoid hits $1.35B valuation with $152M Series A GERMANY: Voodin Blade Technology secures €48.18M EU Grant for Spain's first automated wooden turbine blade factory UK: Arrakis has emerged from stealth, raising $38M in over three months UK: Agricultural biotech firm Moa Technology raises £22.2M FINLAND: AI infrastructure company Verda secures €22M NIB loan NETHERLANDS: Tempress receives $20M investment from Jolt Capital SWITZERLAND: Hilo raises $19M Series B extension for Fitbit-style blood pressure health system UK: Modo Energy secures €14.9M to scale its AI-powered energy benchmarking and valuation platform GERMANY: telli secures $15M seed to automate customer-facing operations GERMANY: Passionfroot raises $15M to expand its B2B creator marketplace to the US GERMANY: kausable raises €12M to rethink how AI learns ITALY: Circular Materials secures €11.8M to scale critical raw material recovery technology UKRAINE: Yope raises $12.3M in pre Series A funding GERMANY: deltaVision raises €10.2M to accelerate orbital refuelling technology GERMANY: Deutsche Sanierungsberatung raises over €10M to accelerate climate-neutral home renovations ITALY: AI startup Datapizza secures €10M Series A to expand enterprise offerings GERMANY: Omio raises €8.7M strategic investment for Asian expansion UK: Healthtech challenger using AI to cut lung disease test time, TidalSense, clinches $19M UK: Mach42 raises £7M in pre-Series A funding GERMANY: BeatSquares closes a $2M seed funding round GERMANY: Zalando joins Sereact's $116M Series B to accelerate AI-powered warehouse automation ITALY: ORiS raises €5M to build laser-powered energy infrastructure for space GERMANY: Aampere raises €4.2M in its second round in 9 months GERMANY: Prodlane snaps €4M to build an AI assistant for technical teams SWEDEN: imagi raises $4.5M to help teach students how to vibe code UK: Cybersecurity provider Xentra secures £2.7M ITALY: HRtech startup Talentware secures €3.3M seed round led by CDP Venture Capital UK: AI engineering project predictor startup Cascade has raised a $3.5M seed round from a16z accelerator ITALY: Agrifoodtech startup Vinhood secures €3M Series A round led by Linfa SWEDEN: Y Combinator startup Scape emerges from stealth with $3.2M to rethink email SWITZERLAND: ImmitraBio secures €2.6M in pre-seed funding UK: Ossprey secures $2.65M to stop software supply chain attacks UK: Ponda raises £1.8M to develop textiles from regenerative fibres SPAIN: CoCircular closes a €1.9M funding round to accelerate its expansion and prepares its entry into the industrial and textile sectors IRELAND: Nernst Electric raises €1.7M to scale on-site oxygen generation technology for aquaculture and heavy industry SPAIN: PageMind raises €1.2M to scale AI for e-commerce product discovery ITALY: Ulisses closes €1.09M seed funding UK: PolyBox reveals £700,000 funding boost GERMANY: The Fundernation community is investing around €780,000 in hydrop systems SPAIN: Mentelem closes a €600,000 investment round TÜRKİYE: RABAM received a $500,000 investment at a valuation of $10M SPAIN: ART Technologies closes a €200,000 funding round with REDIT Ventures to accelerate its industrial scaling SWITZERLAND: goNEON Agentic Systems secures €160,000 to accelerate AI-powered infrastructure planning SWITZERLAND: SeaSON Energy receives millions in funding for seasonal energy storage FRANCE: Pelico receives strategic investment from AE Ventures UK: Novum Studio closes new funding LUXEMBOURG: ATOZ Services receives investment from Bregal Sagemount GERMANY: Lockheed Martin Ventures is investing an undisclosed sum in Spread as part of a Series B funding round ICELAND: Sowilo raises pre-seed to expand AI-powered fashion product intelligence platform SWITZERLAND: Maus Robotics has obtained €161,000 from Venture Kick Exits and M&A activity SWEDEN: Einride acquires electric vehicle charging startup Flipturn for $38 million NETHERLANDS: Havas acquires Dutch sport-marketing agency SportVibes to strengthen Benelux presence UK: $87M deal enables global swoop for UK's Secaro GERMANY: Cologne-based InsurTech Genki is acquiring Wave Claims ROMANIA: Baltic ticketing group PLG acquires Romanian platform iaBilet in rapid growth play GERMANY: The Cologne-based e-mobility company chargecloud is acquiring assets from the insolvent charging station startup elvah FRANCE: Vienna outdoor platform checkyeti acquires France's Manawa UK: Lightning Reach acquired by ETG as mission-driven govtech group expands portfolio SPAIN: Milan-based Contents acquires Spanish financial wellbeing platform Balio in sixth buy-and-build deal AUSTRIA: Swedish racket-sports platform Matchi merges with Austrian competitor Eversports FINLAND: Finnish Aiven acquires Flow AI to expand production AI infrastructure capabilities POLAND: SINGU expands industrial maintenance capabilities through QRmaint acquisition FINLAND: Monterro acquires Finnish fintech MORS Software to bolster banking compliance solutions GERMANY: The US life sciences company Bruker is acquiring the insolvent Duisburg-based medtech company Noscendo

A BAE Systems spinout whose tech could help generate electricity at one-fifth of the cost of today’s nuclear power plants has come out of stealth, securing a £15m funding round led by IQ Capital. Manchester-based Nuclear Turbines is an energy startup developing compact modular nuclear systems to help make clean nuclear power cheaper than fossil fuels. It is looking to reduce the high cost of generating nuclear power by replacing expensive steam turbine systems with “highly efficient” high-temperature turbine technology normally found in jet engines and gas-fired power plants, combined with a novel nuclear reactor design. It says its tech is so compact that it can be deployed “behind the meter” on industrial sites, powering infrastructure such as industrial facilities and data centres and manufacturing facilities. It says its tech is building on advancements by small modular reactors by solving cost and scale challenges. Other participants in the £15m funding rounds were Rhapsody Venture Partners, Zero Carbon Capital and Empirical Ventures. The startup, founded in 2025, says it will use the funding for design purposes, build large-scale test rigs and expand the team. The startup was founded by former BAE Systems principal engineer Jeremy Owston and internationally renowned nuclear engineer professor Tim Abram, in partnership with Empirical Ventures' venture studio and spun out of BAE Systems, the defence giant. It emerges out of stealth as the UK government looks to build a new generation of nuclear plants to meet the future energy needs of a country- where electricity prices are amongst the highest in Europe- and meet net zero targets. It also says its vision aligns with the 2025 government-commissioned Nuclear Regulatory Review, which called for a “radical reset” for UK nuclear regulation. Owston said: "The nuclear industry has always designed reactors first, then figured out what to do with the heat. We flipped this script: we started with the cheapest way to generate power and designed a reactor to fit. If we're serious about reindustrialising while meeting climate goals, we need energy that's clean and cheap. We’ve created the only tech that solves both, from the UK."