Due, a London-based borderless payment startup founded by Revolut alumni, has extended its seed round to $7.3 million, more than doubling its original $3.3 million raise. The additional capital supports the launch of Due’s new API platform, enabling businesses to seamlessly access stablecoin payments as blockchain technology reshapes global finance. Due enables businesses to operate globally with ease through its seamless, borderless account, a simple, multi-currency solution for sending and receiving funds across local and foreign fiat currencies, as well as stablecoins. In addition, Due offers a powerful, embeddable API tailored for fintech companies. Whether building a payments platform, payroll system, crypto wallet, or neobank, developers can access, send, receive, and settle both fiat and stablecoin transactions through a single integration. This API embeds cross-border financial infrastructure directly into the customer’s platform, helping them scale faster, reach new markets, and deliver a streamlined global experience. Both the account and the API provide real-time FX and settlement across 80+ markets, powered by an integrated network of local payment rails, liquidity providers, and blockchain infrastructure. The result is instant, low-cost settlement of digital assets and fiat currencies, unified behind a single, developer-friendly platform. Due channels transactions through stablecoins and on-chain networks whenever possible, enabling mid-market FX rates and reducing costs by up to 90 per cent compared to traditional banking systems. By eliminating the need for multiple bank accounts, currency setups, or complex regulatory arrangements, Due simplifies global treasury into a single, streamlined endpoint. Robert Sargsian, Founder & CEO of Due, says:  Moving money internationally still feels like sending a fax in the age of streaming. With Due, a single API line makes the world one currency zone, delivering real-time settlement at fair FX that’s five to ten times cheaper than legacy wires. Stablecoins, digital currencies tied to stable assets like the US dollar or the Euro, are transforming the way payments work. They enable money to move across borders with the same speed and ease as information flows across the internet. This shift is powering a new wave of payments platforms like Due, which offer around-the-clock, global transfers that are faster, cheaper, and more transparent than traditional systems, marking a clear break from outdated, cumbersome financial infrastructure. Led by Speedinvest, the funding round supports Due’s mission to make borderless payment infrastructure accessible to anyone, anywhere. The round also saw participation from Semantic, Fabric Ventures, Strobe Ventures, Polymorphic Capital, and other investors, bringing Due’s total seed funding to $7.3 million. Olga Shikhantsova, Partner at Speedinvest, says: Cross-border payments remain one of the most stubbornly broken pieces of global finance – and stablecoins are here to fix it. Due is solving this not with another app, but with infrastructure: a single, compliant API that simplifies transactions across both fiat and stablecoin rails. We backed the team early on and are excited to now lead this round as they scale the platform into a true global standard. The new funding will help Due expand and scale its Global Stablecoin APIs, making real-time settlement infrastructure faster and more widely accessible. By the end of the year, the company plans to extend its coverage to over 100 countries in terms of payment rails and supported currencies.  Additionally, Due will develop new payment solutions, including invoicing, cards, and yield accounts, and grow its engineering and compliance teams to support rapid growth. Lead image: Due team | Photo: Uncredited

Ore Energy, a Netherlands-based energy startup pioneering iron-air long-duration energy storage, today announced that it has successfully connected its flagship iron-air battery system to the electric grid in the city of Delft — the first iron-air system to be grid-connected and fully operational anywhere in the world.  The pilot system is also the first long-duration energy storage (LDES) solution to be entirely designed, built, and installed within the European Union. The first-of-its-kind deployment represents a significant technological milestone in long-duration energy storage and marks a defining moment in European energy sovereignty and resilience. I spoke to Aytaç Yilmaz, co-founder and CEO, and Bas Kil, Business Development Manager at Ore Energy, to learn more.  The core principle of iron-air long-duration energy storage is based on rusting and derusting iron. Yilmaz explained that “when the battery discharges, iron oxidises and forms a special type of rust. “The system charges by using electricity to convert iron oxides (such as rust) back into metallic iron. During discharge, the metallic iron reacts with oxygen from the air to form iron oxides again, releasing electrical energy in the process.”  “The core chemistry was first developed in the 1960s for use in electric vehicles. But with limited market demand at the time, the technology was shelved. Today, with the rise of renewables and the urgent need for affordable, long-duration energy storage, it’s finally the right moment for this kind of solution.” Why an iron-air battery? Where lithium-ion peaks at 4 to 8 hours of storage, Ore Energy’s iron-air battery holds power for 100 hours or more, enabling multi-day load shifting, better integration of renewables, and reduced need for fossil backup. Unlike conventional batteries, which rely on scarce or flammable materials, Ore’s iron-air chemistry uses safe, abundant elements with no reliance on lithium, cobalt, or rare earths. Ore Energy’s iron-air battery directly addresses several systemic challenges in Europe’s energy transition: Reduces renewable energy curtailment.  Europe is already wasting vast amounts of clean energy simply because there’s nowhere to store it when demand drops.  Ore Energy’s 100-hour battery captures surplus power across multi-day periods, cutting curtailment by up to 44 per cent in modelled systems and helping shave billions off Europe’s energy bill.    - Improves grid stability and reduces reliance on fossil fuel backup.  Even modern grids with renewables like wind or solar still lean on gas-fired power during multi-day lulls in generation. These fossil fuel “peaker plants” are costly, carbon-intensive, and erode the economics of decarbonisation. Ore Energy enables renewables to meet demand without fossil backup, something current batteries can’t do. Saves on overbuilding and grid upgrades.  Without long-duration storage,  grid operators must overbuild renewables to ensure reliability, which inflates system costs and strains grid infrastructure.  Yilmaz shared that the company’s system is around seven to ten times cheaper than lithium-ion batteries, “primarily because we use iron and air — materials that are abundant, safe, and inexpensive. Among long-duration options, this is currently the most cost-effective chemistry available.” By reducing peak capacity requirements and enabling time-shifting, Ore’s batteries cut system-wide costs by up to 63 per cent in modelled future energy systems.  Eliminates foreign supply chains for full European energy independence.  Utilities are under growing economic and regulatory pressure to reduce dependence on foreign-controlled supply chains, especially for critical materials and rare earths, which are heavily concentrated in China and conflict-prone regions.  Ore Energy’s iron-air batteries are made in-house from abundant, EU-sourced materials. They are being built with a fully European supply chain, aligned with the EU’s Critical Raw Materials Act and energy sovereignty agenda. Ore Energy’s 100-Hour battery tackles long-duration storage challenges According to Kil,  the company is focused on three key application areas: Co-location with renewables, particularly wind.  “Wind generation is highly variable — you can get days of high or low output in a row. Lithium-ion’s short duration doesn’t help much in that context. But our 100-hour battery is ideal for shifting large volumes of energy over multiple days.” Grid-scale flexibility. As utilities phase out gas and coal plants, they need new ways to match supply and demand. The batteries can help stabilise the grid as it transitions to renewables. Data centres. Data centres consume enormous amounts of electricity and are under pressure to decarbonise. “Our batteries offer them flexibility, cost savings, and the ability to make better use of renewable energy contracts.” Ore Energy’s pilot system — which uses iron, air, and water to store clean energy for up to 100 hours — was deployed at The Green Village, a living lab for next-generation climate and energy technologies located at Delft University of Technology (TU Delft).  The startup was spun out of TU Delft and maintains a close collaboration with the university. The nearby location allows for direct access and monitoring, while the site's microgrid setup provides ideal conditions for real-world testing and validation. The installation is now collecting real-world operational data and will serve as a testbed for multi-day energy shifting, which is a key milestone on the way to full renewable grid integration.  Ore Energy’s full-scale system will use modular 40-foot containers, each delivering up to 4.2 MWh of multi-day energy storage, optimised for low-cost, low-footprint deployment. “This achievement is proof that Europe can lead the world in energy innovation and energy resilience. We’ve shown that breakthrough solutions like iron-air can move from lab to grid in just two years and can be built entirely with a European supply chain,” said Yilmaz.  “Our battery doesn’t just store clean energy, it solves three of the grid’s biggest problems: it slashes curtailment, replaces fossil backup, and reduces the need to overbuild wind and solar. Long-duration storage like ours is what makes renewable power reliable, affordable, and sovereign. And now it’s ready.” “The Green Village exists to bring bold ideas out of the lab and into the real world. Ore Energy’s iron-air battery is exactly that kind of breakthrough,” said Lidewij van Trigt, Energy Transition Project Manager at The Green Village.  “Connecting the world’s first grid-ready iron-air system here in Delft shows what’s possible when research, regulation, and industry align. We’re proud to provide a proving ground for technologies that will shape the future of Europe’s energy system.” Market maturity has finally arrived, but regulations need to catch up According to Yilmaz, iron-air batteries require a multidisciplinary approach — chemistry, mechanical engineering, and grid integration.  “Until recently, the market wasn’t mature enough to support that kind of effort. But now, with the rise of wind and solar, the need for long-duration, low-cost storage is undeniable — and the conditions are finally right.” The company plans to scale to 50 GWh/year by 2030. The company has set an ambitious goal of 50 GWh/year by 2030. To get to this, Yilmaz shared, “First, we need to scale up production rapidly. That’s already in motion.  !But we also need market mechanisms — tenders, incentives, recognition of long-duration storage in energy planning. If regulation catches up, and the market embraces this technology, 50 GW is realistic.” According to Yilmaz, the technology is ready, but the regulatory environment for long-duration energy storage is still evolving. There’s no standardised way to value or procure LDES yet, and that slows down deployment.  “Things are improving, but policy support is essential to reach the scale we’re aiming for.”

After a year of building product and traction in stealth, Stackgini announced the closing of its pre-seed funding round in April 2024. Since then, the company has seen strong demand from DAX 40 companies and established enterprise clients such as Endress+Hauser, Grünenthal, Badenova, and Louis Motorrad, all of whom are already actively using its solution. IT departments manage large IT portfolios (often over 1,000 solutions), while business units continuously submit new requirements. Manually coordinating these requests across departments, systems, and fragmented data sources slows decision-making and quickly results in redundant licensing costs and growing IT complexity.  Stackgini addresses this challenge with a data-driven platform that enables companies to assess, select, and optimise their IT landscape more efficiently. Johannes Bock, CEO and co-founder of Stackgini, shared: We founded Stackgini to solve a problem every organisation faces: fragmented, manual, slow IT decision-making. Our platform learns from existing IT stacks, contextualises new IT demands, and proactively promotes the reuse of existing IT solutions — with the speed a modern IT requires. Stackgini is on a mission to fundamentally modernise IT demand management. Since closing its pre-seed round in April 2024, Stackgini has been developing its SaaS platform in close collaboration with its customers. The product leverages proprietary AI to analyse internal portfolio data, IT requirements, and market data, delivering actionable IT solutions in real time. Stackgini acts as a co-worker across IT governance, enterprise architecture and IT procurement teams. The product has already gained the trust of leading enterprises. Steven Waegenaer, Head of IT Governance and Strategy at Grünenthal Group, adds:  For us, Stackgini is a real game changer in demand management: we are able to work together with the business units at an early stage and in a data-driven manner and make well-founded decisions - thus preventing unnecessary costs and shadow IT. The pre-seed round was led by High-Tech Gründerfonds (HTGF) and xdeck Ventures, with participation from experienced angels including Julius Göllner, Dr. Niklas Hellemann, Frank Piotraschke, and Lukas Gottschick. We backed Stackgini because the team is taking a fresh, scalable approach to a universal enterprise pain point, says Maurice Kügler, Senior Investment Manager at HTGF, adding:  With rising IT complexity and talent shortages in IT architecture and procurement, fueling IT decision-making with AI is a huge opportunity. Markus Gick, Managing Partner at xdeck Ventures, adds:  Stackgini has the vision, the team, and now the traction to redefine how enterprise IT decisions are made. We’re proud to support them on this journey. As enterprise adoption accelerates, Stackgini is now focused on scaling its engineering, customer success, and go-to-market teams. The company is also strengthening integrations with existing governance, procurement, and enterprise architecture tools, driving toward a future where IT decisions take days instead of months.  Our goal is simple: to become the AI-powered backbone of enterprise IT decision-making. says Johannes. Lead image: Stackgini team | Photo: Uncredited

Retab, an AI agent for building document extraction pipelines, has raised $3.5 million in pre-seed funding alongside the launch of its platform. Retab is a developer platform and SDK that transforms document processing for the era of large language models. Developers simply define the data schema they need, while Retab manages everything else, from dataset labelling and evaluation to automated prompt engineering and model selection. The idea for Retab was born from the founders' early work building internal automation tools for document-heavy workflows in logistics. They quickly realised that their true breakthrough wasn’t in the end results, but in the orchestration layer they had created to make AI models work reliably and efficiently. That layer became the core of Retab. Louis de Benoist, co-founder and CEO of Retab, shared:  People keep building demos that look like magic, but break the moment you put them into production. We lived that pain ourselves. Wiring up fragile pipelines just to extract a few fields from a PDF. We built Retab because it’s the developer-first platform we always wished we had. Today, Retab’s all-in-one platform is used by dozens of companies to convert messy PDFs, handwritten scans, and other unstructured inputs into clean, structured data, without the need for brittle third-party tools. Users simply define the data they need, upload their files, and Retab handles everything else: from dataset labeling and extraction logic to evaluation and benchmarking. It intelligently routes tasks to the best-performing model and automatically switches as newer, more effective models emerge. Importantly, Retab isn’t just another large language model. It acts as the intelligence layer that makes cutting-edge models from providers like OpenAI, Google, and Anthropic usable for real-world, high-stakes workflows. By managing the full lifecycle of document extraction with verifiable accuracy, Retab enables teams to replace manual processes with fast, accurate, and self-improving workflows across use cases like contracts, invoices, and compliance documents. The platform delivers guaranteed performance through a system of intelligent checks and balances: Self-Optimising Schemas - An AI agent automatically tests and refines instructions based on a user’s documents, maximising accuracy before the system ever goes live. Intelligent Model Routing - The platform is model-agnostic. It automatically benchmarks and routes each task to the best-performing model for the job, whether the priority is cost, speed, or accuracy. This can make processes up to 100x cheaper than other solutions. Guided Reasoning & k-LLM Consensus - Retab forces models to "think" step-by-step and uses a consensus mechanism among multiple models to quantify uncertainty, acting as a powerful safety net to ensure trustworthy results.  Retab is the OS for reliably extracting structured data. It wraps the best models in a layer of logic that actually makes them usable with error handling and structured outputs. That’s what devs need if they want to build production apps, not just prototypes, said de Benoist.  With a lean team of just ten employees and a rapidly growing developer community, Retab is positioning itself as a core layer in the AI infrastructure stack, a tool designed not just to showcase what’s possible but to empower others to build with it. Customers in logistics, finance, and healthcare are already benefiting from Retab. One major trucking company leveraged the platform to identify the smallest and fastest model configuration that met its 99 per cent accuracy requirement, significantly cutting operational costs. A financial services firm now uses Retab to extract detailed quantitative metrics and qualitative risk insights from 200-page quarterly reports, a task that once took a team of analysts several days. Other users are streamlining processes like claims handling, medical record processing, identity verification, and onboarding, with minimal setup required. The round was backed by leading early-stage funds including VentureFriends, Kima Ventures, and K5 Global, alongside Eric Schmidt (via StemAI), Olivier Pomel (CEO, Datadog), and Florian Douetteau (CEO, Dataiku).  Florian Douetteau, co-founder and CEO of Dataiku and an investor in Retab, noted that the broader adoption of AI across the economy relies on the ability to transform document-heavy operations into reliable, structured data that autonomous systems can effectively use: On a large scale, this process hinges on quality control, cost efficiency, and rapid implementation. The team at Retab understands this thoroughly and is uniquely positioned to solve it for the thousands of AI-first companies that are emerging. Looking ahead, Retab is expanding its capabilities beyond documents to apply its reliable extraction methods to websites. It’s also rolling out integrations with automation platforms like n8n, Zapier, and Dify to streamline workflows even further. At the heart of Retab’s long-term vision is its goal to become the intelligent middleware layer between the world’s unstructured data and the AI agents that need to interpret it. Whether processing a loan file, a contract, or a customs manifest, Retab turns unstructured content into usable, safe, and programmable data. The newly raised capital will fuel continued platform development and community expansion, enabling the company to scale its infrastructure to meet growing demand from vertical AI startups and internal innovation teams. Lead image: Retab team | Photo: Uncredited

A Greek defence tech startup founded by a former Apple roboticist has raised $14m in a Series A funding round. Athens-based Delian Alliance Industries is developing autonomous weapons, including drones and surveillance towers equipped with cameras and AI software. It is competing in the increasingly crowded defence sector, amid heightened military spending, particularly in Europe. The company is going up against incumbents like BAE Systems while newer entrants like Helsing are also springing up. Its Series A funding round was co-led by Air Street Capital and Marathon Venture Capital, with participation from 201 Ventures, HCVC, Entropy Industrial Capital, and Nebular. Dimitrios Kottas, founder and CEO, said: “Our adversaries are arming themselves with emerging technologies at a rapid industrial scale. “We’re in a race against time and should measure deployments in days, not decades. We’ve proven our systems in mission critical environments and will now ramp up production internationally." The startup says its approach is to combine advanced AI with commercial hardware from allied nations.  It says it will use the funds to expand its engineering and field deployment teams, as it looks to meet demand from NATO and other partners. Delian Alliance Industries launched in 2021, under its previous name, Lambda Automata, and is based in Greece because of lower costs. It raised around $6m from US and European investors in 2023, according to Bloomberg. Kottas spent five years at Apple, working mainly at its secretive Special Projects Group, developing autonomous cars.

Today First Momentum Ventures released its second DeeptechHardware Napkin. Inspired by Point Nine Capital's influential SaaS Funding Napkin, it offers compact insights into the fundraising dynamics of deeptech hardware startups.  I spoke to Dr Maximilian Ochs, VC at First Momentum Ventures and one of the report’s authors, to find out more.  This year’s version includes data from 2024 and 2025, tracking the changes over the last two years. First Momentum Ventures gathered over 100 anonymised survey responses from around 20 European deeptech venture capital firms. Each entry represents a specific funding round successfully raised by a hardware-first startup, rather than a generalised industry average. The dataset captures critical investment-time details, including: Round size and valuation; Public funding received; Team composition (e.g. academic vs commercial backgrounds); Commercial traction; Technical maturity; Only European startups at Pre-Seed to Series B stage were included, with funding rounds limited to 2024 and 2025, excluding bridge rounds and extensions; the focus was on hardware-first startups such as those in semiconductors, photonics, and robotics, while biotech startups were deliberately excluded.  Key findings on a napkin: Revenue is not a key metric for early-stage investors  This year, the data included only one Pre-Seed company with revenue (around €500,000 to €2 million). It revealed that startups are less technically mature compared to 2022/23, and investors appear to have more appetite for higher tech risk. The number of Pre-Seed companies with industrial pilots dropped from 40 per cent to 20 per cent while 80 per cent of startups were in concept or lab demo stage. Throughout Series A,  less than 40 per cent of deeptech hardware companies are still testing lab demonstrators.  According to Ochs,  “While most early-stage startups are in the lab demonstration phase and still years away from commercialisation, this is not just an early-stage issue. Only 30 per cent of the Series B companies included had revenue!  Investors are paying more for companies with less validated technology Investors seem to have more appetite for tech risk. Especially if this comes with less market risk (let’s say if you can solve the tech, you more or less unlock a massive market).  "Early-stage venture is very competitive, you have lots of funds that want to do deeptech and few very good startups, so one way to compete is to invest earlier than competitors. 90 per cent of Pre-Seed deeptech founders hold PhDs  —  but commercial experience still lags," shared Ochs.  PhDs dominate over deeptech serial entrepreneurs Further, 2024 report emphasised the dominance of PhDs and industry veterans in founding teams.  At the Pre-Seed stage, 90 per cent of founders hold a PhD — up from 80 per cent in 2022/23 — while fewer than 40 per cent have relevant industry experience, though that’s an increase from just 27 per cent last year.  Ochs highlights that the strongest teams combine deep research expertise with hands-on industry experience. Having a commercial co-founder is not yet the norm for deeptech companies. At Pre-Seed, almost 75 per cent are pure tech teams. Instead, most companies across all stages have very technical CEOs. But the general trend remains: Deeptech startups are often founded by very academic first-time founders, but do not yet have many serial entrepreneurs in deeptech. Ochs asserts that “We do not yet have a community of serial deeptech founders (as in the US), just because there are not that many successful deeptech hardware startups in Europe.” Technical tractor prioritised over commercial traction The data reveals that commercial traction is not unimportant, but technical traction is very important at early stages.  According to Ochs: “We see many Series A and B companies without significant revenue, but if they hit major tech milestones that help them build a dominant position in the future, investors are still keen to invest.”  While concept-stage startups can attract millions in funding, I was curious if, with 2024-2025 investors, they will they become more disciplined about matching funding size with technical readiness level or product maturity? Ochs asserts:  “We still have many concept-stage companies at pre-seed, but 60 per cent of companies at pre-seed have a lab demo, so are slightly more tech advanced. The physics needs to be checked out for every investor. “ Don’t rely on public funding as part of your fundraising goal  The last year has seen slight upticks in public funding, but Ochs generally advises founders not to rely on public funding when raising from VCs.  He shared: “Let‘s say a company needs €4 million to reach relevant milestones but wants to only raise €2 million from VCs and the rest from grants. We have seen it over and over again, grants are delayed or applications are not accepted (for whatever reason), and then the private round has to be larger.” He would always recommend planning fundraising independently of grants. “That said, grants are often essential to accelerate progress, especially in cases where public support is critical, such as building a fusion company.” Involve customers early in your development  A key takeaway from Ochs, which he shares with many deeptech founders, is that given the CAPEX and long innovation cycles, it's crucial for deeptech startups to work with customers as soon as possible. “I like cases that chase early customer traction (also to validate tech) on the way to a big vision (that might be still far away).” Overall, the report data saw a notable increase in Series B deals, signaling that the ecosystem is beginning to mature. At the same time, there was continued interest in less mature technologies, highlighting a sustained appetite for early-stage innovation. In addition to advising founders to plan fundraising separately from grants, Ochs encourages ambitious teams to raise substantial rounds to accelerate their progress. “Don’t be afraid to raise what you need to reach your milestones.” 

This week, the United States reached a trade deal with the European Union, which includes the elimination of EU tariffs on US industrial goods, and the EU will also pay a 15 per cent tariff on certain US goods. The president of the European Commission, Ursula von der Leyen, issued a statement that shared: “We have stabilised on a single 15 per cent tariff rate for the vast majority of EU exports. This rate applies across most sectors, including cars, semiconductors and pharmaceuticals.  This 15 per cent is a clear ceiling. No stacking. All-inclusive. So it gives much-needed clarity for our citizens and businesses. This is absolutely crucial." In other words, although the deal avoids the previously threatened 30 per cent set to take effect on Aug. 1, it imposes a 15  per cent baseline tariff on most EU exports to the US, including autos, semiconductors, and pharmaceuticals.  The statement by von der Leyen also shared an “agreed on zero-for-zero tariffs on a number of strategic products.  This includes all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural products, natural resources and critical raw materials. And we will keep working to add more products to this list.” Critics say EU gave in too easily The deal has drawn robust criticism from some politicians and European trade groups as rather than joining Canada and China in responding with immediate retaliation to inflict economic pressure on US consumers and businesses, Europe has chosen a path marked by economic and political concessions. A statement by the European DIGITAL SME Alliance contends that the agreed 15 per cent tariff is based on “Trump’s misleading trade deficit narrative: Europe imports more than €300 billion in digital services from the US annually, offsetting the goods deficit.” “At the same time, the EU already applies significantly lower tariffs on many US goods than vice versa – for instance on cars.” The European DIGITAL SME Alliance is the largest network of ICT small and medium enterprises (SMEs) in Europe, representing more than 45,000 digital SMEs across the EU. The alliance is the joint effort of 30 national and regional SME associations from EU member states and neighbouring countries. Previously, in regard to news of the incoming tariffs,  European investors and founders told Tech.eu that Europe must strengthen its own supply chains, reduce reliance on US cloud providers, and build homegrown infrastructure to retain control and resilience  The risk of locking Europe into disadvantageous trade conditions The European DIGITAL SME Alliance calls on the European Commission and Member States to reassess the agreement during the forthcoming detailed negotiations to protect Europe’s strategic autonomy and strengthen its own technological base. According to the trade agreement, the US gains access to European markets with reduced or eliminated EU tariffs, while the EU bears a flat 15 per cent on most goods. This imbalance may lock Europe into disadvantageous trade conditions.  Further, commitments to increase imports of US LNG (Liquefied Natural Gas), AI chips, and military products will channel significant European investment into US industries at the expense of European capacity building.  It also contends that in the digital sector, US tech giants remain untouched — despite their significantly more favourable tax treatment than many European firms. The European DIGITAL SME’s statement further cautions that the trade deal risks locking the European economy into a deeper reliance on American suppliers, further entrenching Europe’s technological dependency on the US.  Increasing Europe's dependence on the US The deal coincides with the Trump administration’s AI Action Plan, a strategy aimed at consolidating US digital imperialism by exporting the entire American AI stack — chips, software, cloud, and standards — making allies structurally dependent on US technology. For example, the planned bundling of NVIDIA’s AI chips with US-based cloud and software services would further constrain Europe’s ability to build a self-sufficient and competitive digital ecosystem. According to DIGITAL SME President, Dr Oliver Grün: “The White House’s tariff policy is built on a distorted view of the transatlantic trade relationship. While the US highlights a deficit in goods, it ignores the €300+ billion Europe imports annually in US digital services. This imbalance exposes the structural dominance of American technology in the European economy — contributing to Europe’s productivity gap." The DIGITAL SME urges the European Commission to use the upcoming technical negotiations to rebalance the agreement to include safeguards for European technological sovereignty and a concrete plan to build a European tech stack capable of competing on equal terms. They are not the only ones criticising the deal. The French prime minister, François Bayrou, labelled the framework deal as a “dark day” for the EU, sharing on X on Monday: “It is a dark day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission,” Bayrou wrote on X on Monday. Hungary's Prime Minister Viktor Orbán slammed European Commission President Ursula von der Leyen, describing the talks as "Trump eating von der Leyen for breakfast." UK trumps ahead In stark contrast, the UK–US trade deal retains a 10 per cent blanket US tariff on UK imports — arguably offering clearer terms and potentially stronger incentives for UK startups and scaleups trading with the US. It shows what can be achieved when you play nice.  As the EU enters detailed negotiations, can Europe pivot from concessions to assert a stronger stance — one that protects its strategic industries and fosters true digital and economic sovereignty?  As DIGITAL SME President, Dr Oliver Grün states:  “Only by advancing a genuine strategy for technological autonomy can Europe reclaim political sovereignty and boost its economic competitiveness.”

UK-based Centauri Therapeutics, an immunotherapy company with a proprietary platform technology applicable across a wide range of therapeutic areas, has secured an additional $5.1 million in funding from CARB-X. This brings CARB-X’s total support for the company since 2019 to $12.3 million. Centauri initially set out to tackle the urgent need for anti-infectives, particularly for vulnerable and high-risk patients, and has since also demonstrated promising early proof-of-concept results in oncology. Central to its approach is the Alphamer® platform, which employs antibody-recruiting molecules to harness the body’s natural immune response, redirecting antibodies to selectively target disease-causing agents. Dr. Jennifer Schneider, CEO of Centauri Therapeutics, shared:  The unwavering scientific and financial support from CARB-X has provided stability to Centauri as a company, expanded understanding of our Alphamer platform, and enabled us to progress the ABX-01 programme from discovery, through early development, and is now providing a smooth and continuous path towards First in Human clinical studies. We are thankful for CARB-X and their continued engagement and confidence, which has allowed us to move a step closer to delivering a much-needed therapeutic for serious, drug-resistant Gram-negative infections, even in the most clinically vulnerable patients. In March 2025, Centauri announced the selection of its first clinical candidate from the ABX-01 programme. This broad-spectrum antimicrobial was specifically chosen to target common, multidrug-resistant bacterial strains. Developed using the Alphamer® platform, the candidate is designed to treat serious Gram-negative lung infections, offering new therapeutic options for high-risk patients. The compound features a dual mechanism of action, combining intrinsic antibacterial activity with immune-based effects, including complement fixation and phagocytosis, all within a single molecule. Early efficacy studies have shown promising results against Gram-negative bacteria. Dr. Erin Duffy, Chief of Research and Development, CARB-X, commented:  We have been proud to support Centauri, beginning with answering key questions on the approach and continuing with the drug discovery that has led to the lead asset of ABX-01 and its progression towards building a dossier to support its advancement into first-in-human clinical trials. The funds will support the advancement of the lead candidate in Centauri’s ABX-01 program into first-in-human clinical studies.

Lithuanian startup Psylink has raised €501,521 in a pre-seed round to develop further its proprietary biotechnology platform, which focuses on the sustainable production of plant- and fungi-derived compounds. Psylink is a deep-tech biotechnology company developing innovative, science-driven treatments for mental health disorders, with a focus on patients who do not respond to conventional therapies. With an estimated 30–40 per cent of individuals experiencing little to no benefit from standard antidepressants, Psylink aims to fill a critical gap in the mental healthcare market through a dual R&D approach. The first pillar of its strategy centres on a sustainable biotechnology platform that uses engineered yeast cells as biosynthetic “mini-factories” to produce natural, fungi-derived compounds. This scalable, cost-efficient method provides an environmentally friendly alternative to traditional chemical synthesis and extraction. The second pillar focuses on the discovery and evaluation of novel therapeutic compounds for conditions such as depression and PTSD. By studying psilocybin and related fungal metabolites, Psylink seeks to uncover new treatment candidates through a deep understanding of their molecular interactions and cellular effects. Laura Korsakova, CEO of Psylink, shared: At Psylink, we’re developing science-based therapies inspired by nature to help those who haven’t benefited from conventional treatments. We're proud to partner with investors who recognize the urgency and potential of this work. Our multidisciplinary team is united by a clear mission: to create safe, effective, and sustainable solutions for mental health, drawing on the rich diversity of bioactive compounds found in plants and fungi. Operating at the intersection of biotechnology, neuroscience, and natural product discovery, Psylink is uniquely positioned to lead in the development of next-generation mental health therapies. The pre-seed round was led by venture capital fund Coinvest Capital, along with a syndicate of angel investors. Firstpick and BSV Ventures also joined the round. Viktorija Trimbel, Managing Director of Coinvest Capital, noted: Psylink stands out by combining rigorous biotechnology with the therapeutic potential of natural compounds – an approach that is not only innovative but also grounded in strong scientific validation. What impressed us is their ability to bridge traditional wisdom and modern neuroscience. This is exactly the kind of transformative innovation the mental healthcare market urgently needs, and we believe Psylink is well-positioned to lead in this emerging space. Erin Gainer, who leads the angel investor syndicate, noted that Psylink’s efforts in developing next-generation psychedelic derivatives could significantly transform treatment possibilities for individuals dealing with mental health issues, adding: I’m honoured to support the team at this early stage and to help bring these much-needed therapies closer to those who need them most.  According to Sandra Golbreich, Partner at BSV Ventures, Psylink is a rare example of deep-tech innovation from the region, tackling a global issue with a strong scientific foundation and a clear sense of mission: We’re proud to support a team developing real biotech with the potential to transform how we treat mental health.  The capital will be used to advance Psylink’s proprietary biotechnology platform for the sustainable production of plant- and fungi-derived compounds. It will also fuel the screening and evaluation of novel molecular candidates, accelerating the identification of high-potential compounds for further development and preclinical validation. Lead image: Psylink team | Photo: Uncredited

Google has begun the UK rollout of AI Mode, a more conversational and "context-aware" layer added to its core search product.  Unlike its earlier AI Overviews, which provide brief summaries atop traditional search results, AI Mode transforms search into a deep‑dive, chatbot‑like interface tailored for complex queries. AI Mode allows users to pose multi-part, exploratory questions that previously would have required several separate searches, enabled by the custom Gemini 2.5 model. The feature breaks down queries into subtopics via a “query fan‑out” process, performing multiple searches simultaneously to deliver a synthesised answer with relevant links included. “You can now experience this firsthand with AI Mode, our most powerful AI search experience, with more advanced reasoning and multimodality, and the ability to go deeper through follow-up questions and helpful links to the web,” said Hema Budaraju, Vice President of Product Management for Search at Google. Budaraju highlighted the shift in user behavior already seen in early testing, noting: “We’ve found that early users of AI Mode are asking questions that are two or three times the length of traditional search queries.” Experts and publishers have voiced mounting concerns that AI Overviews - and now AI Mode - may siphon off referral traffic, hurting ad-based business models. Click-through rates have been shown to drop sharply when AI summaries replace traditional search listings. Meanwhile, UK regulators are closely watching Google. The Competition and Markets Authority is considering designating Google a “strategic market status” provider, potentially enforcing rules around transparency and publisher rights under the new AI search paradigm. A final decision from the CMA is expected by October 2025. Google notes that AI Mode is built on its existing ranking systems and includes new mechanisms to ensure factual accuracy. If the system lacks confidence in its AI-generated response, it will default to a standard list of search results. “We aim to show an AI-powered response as much as possible, but in cases where we don’t have high confidence, you will see a set of web search results,” Budaraju said. “As with any early-stage AI product, we won’t always get it right, but we are committed to continuous improvement.” AI Mode also expands the range of how users can interact with search. The feature is fully multimodal, allowing input via text, voice, or images. For instance, a user can upload a photo of a product or landmark and ask contextual questions about it. This places Google’s AI Mode in direct competition with other AI-enhanced platforms such as OpenAI’s ChatGPT (which includes image and voice input capabilities) and Microsoft’s Copilot, which is deeply integrated across the Windows ecosystem and Bing search.

Irish Immunotherapy startup LIfT BioSciences, has secured a €12 million grant from Ireland’s Disruptive Technologies Innovation Fund (DTIF) to support the first human trial of its breakthrough cancer therapy. Unlike many cancer treatments that try to ‘retrain’ broken immune defences, LIfT’s approach is to replace patients’ immune systems. The company grows neutrophil cells from rare “super donors” whose immune systems naturally attack and destroy cancer and delivers them to patients via IV infusions. The therapy, known as IMANs (Immuno-Modulatory Alpha Neutrophils), uses specially engineered immune cells designed to tackle aggressive solid tumours that have stopped responding to standard treatments. LIfT’s Immunomodulatory Alpha Neutrophils (IMANs) kill in a non-antigen specific manner and turn the tumour microenvironment against the tumour to give a durable total immune response and lasting immunity.  The trial will start by testing increasing doses of IMANs in small groups of patients to find the most effective and safe dose. Once that’s identified, more patients will receive that dose alongside checkpoint inhibitor therapy. The results will help speed up development of the treatment and support further investment into LIfT’s clinical and manufacturing work in Galway. The €12 million grant – the largest single award in the DTIF’s history – will fund a partnership between LIfT, University of Galway and Hooke Bio. Galway will bring its expertise in cell therapy trials, while Hooke Bio will provide tools to analyse patient responses more precisely. Alex Blyth, Chief Executive Officer of LIfT Biosciences, said:  “LIfT Biosciences isn’t just developing a new ‘blockbuster’ drug. We’re creating a whole new way of thinking about the body – not just killing the cancer but helping the body to fight back. By harnessing the power of a few extraordinary immune systems, we’re working to bring that power to everyone. This grant from the DTIF allows us to take another step forward in bringing our treatment to the masses – something we’re truly striving for and believe everyone should have access to.” DTIF is a €500 million challenge-based fund established under Project Ireland 2040. It is one of four funds set up under the National Development Plan (NDP) 2018-2027. It is managed by the Department of Enterprise, Trade and Employment and administered by Enterprise Ireland. Commenting on the award, Peter Burke, Minister for Enterprise, Tourism and Employment, said   “We want to fund projects that will make a real difference to people’s lives.  The N-LIfT project has come through a rigorous evaluation process and the level of funding awarded reflects its potential to be a game-changer in cancer therapy. I’m excited to see the impact it will deliver.” Lead image: Freepik.

  Today climatetech companies  Pina Earth and Tree.ly have announced that they have joined forces to build Europe’s first full-stack forest carbon platform.  Pina Earth develops certified climate projects that remove carbon from local forests in Germany. With over 30 million square meters of forest under adaptation management, the projects transform vulnerable monocultures into biodiverse, climate-resilient ecosystems, and sequester additional CO₂ and strengthen forests against heat, storms, and drought.  By acting as the bridge between forest owners and companies, Tree.ly ensures that climate contributions lead to measurable impact in local forests. Combining science-based methods, regional partnerships, and digital tools, the company supports forest owners in implementing climate-relevant measures such as regeneration, afforestation, or improvements to forest infrastructure. At the same time, companies contribute to their climate goals through high-quality carbon credits.  The new entity combines strengths in software, project development, and sales to deliver greater scale, transparency, and regional impact for both landowners and carbon buyers. The combined operations span Germany, Austria, Switzerland, the Czech Republic, Italy, and Hungary with: 80,000+ hectares of forest under contract 500,000+ tCO2 of certified, regional carbon credits A network of 100+ corporate buyers This makes the new company the largest tech-enabled forest carbon project developer in Europe and the clear market leader in the DACH region with 5x annual revenue growth. Carbon buyers can now invest in a broader, more scalable portfolio of nature-based projects, covering multiple methodologies, certification standards, and geographies within the DACH region and beyond. Buyers benefit from access to large volumes of certified credits, high transparency and a continued strong focus on biodiversity co-benefits and regional impact. For forest owners, the combined offering simplifies certification across different project types and geographies with a single, trusted partner and provides improved access to long-term buyers. “We founded Pina Earth to ensure Europe has healthy forests for generations to come,” said Dr Gesa Biermann, co-founder of Pina Earth.  “I’m so excited to join forces with Tree.ly to scale our impact even faster — and provide companies with the regional, high-integrity carbon credits they’re asking for.” Pina Earth’s proprietary forest simulation software will be integrated into Tree.ly’s broader certification platform, improving project development efficiency, transparency, and expanding support for diverse methodologies. “Technology is the only way we can meet climate targets at the scale required,” said Jodok Batlogg, co-founder and CEO of Tree.ly.  “With this merger, we’re bringing the strongest tools and best teams in the market together to make forest carbon projects faster, simpler, and more reliable – for landowners and buyers alike.” The merger makes it easier for companies to invest in audited, regionally sourced carbon credits. It also positions the combined entity to anticipate future regulation, including evolving EU frameworks such as the Carbon Removal Certification Framework (CRCF). These policy shifts underscore the growing importance of quality-driven, European-based carbon removal solutions. “This is a defining moment for European forest carbon markets,” said Nadja Bresous Mehigan, Partner at XAnge and lead investor in Pina Earth.  “The merger is a strategic step toward defining the future category leader in European forest carbon, combining scalable tech, methodological excellence, and the trust of both landowners and buyers.” The combined company will operate under the Pina Earth brand and will be led by Tree.ly founders Jodok Batlogg and Christian Lutz, both experienced serial founders with a strong track record of scaling tech ventures, and former co-founders of Crate.io.  Pina Earth co-founders, Dr Gesa Biermann and Florian Fincke, will transition into strategic advisory roles to support integration and help shape the company’s long-term vision.  The company will maintain hubs in Munich, Berlin, and Dornbirn. In the coming months, integration efforts will focus on expanding commercial reach, scaling technology, and preparing for a Series A financing round. Lead image: Pina Earth. Photo: uncredited. 

ARX Robotics, Europe’s leading provider of autonomous unmanned ground vehicles (UGVs), has raised an additional €11 million as part of a Series A extension. The round was led by Speedinvest, with additional backing from HV Capital.  This follows the company’s initial €31 million Series A announced in April, which was led by HV Capital and included Omnes Capital as well as existing investors NATO Innovation Fund and Project A. With this extension, ARX Robotics' total Series A now stands at €42 million. Founded in 2022 by former officers of the German Armed Forces, Munich-based ARX Robotics develops the modular Gereon UGV platform and Mithra OS, the first AI-powered operating system designed to upgrade legacy military vehicles. These technologies enable autonomous ground operations while boosting the mission-readiness of existing fleets, all within a fully European supply chain. As European armed forces face mounting pressure to modernise and respond to shifting geopolitical dynamics, ARX Robotics offers a timely solution with its open-architecture, fully integrable software and hardware systems. With rising demand for modular, AI-driven defence technologies, fueled by breakthroughs in autonomy and sensing, along with a strong push for European strategic independence, ARX is well-positioned to lead this transformation through its software-defined approach and field-proven platforms. The company has established itself as a leading UGV provider in key European markets, including Germany, Ukraine, and the United Kingdom. Its systems are currently deployed by six European armed forces. Marc Wietfeld, Founder and CEO of ARX Robotics, shared:  With the extension of our Series A, we are deliberately accelerating the scaling of existing structures: from our modular software architecture and serial production to building a top-tier, interdisciplinary team.  In today’s geopolitical environment, marked by growing uncertainty, speed, and the ability to act at the right time are crucial. At ARX Robotics, we stand for software-defined defence, designed and developed in Europe, that is agile, scalable, and technologically sovereign. With the fresh capital, ARX Robotics is further expanding its software-centric platform for the networking and digitisation of unmanned combat vehicles. At the same time, the company will accelerate the serial production of connected, tactical UGV platforms with high system openness and integration capability. A key focus will be on building additional production facilities and strategic partnerships across Europe, bringing in industrial capacities and resources to enable the rapid, cost-efficient production of intelligent systems and contribute actively to the security-relevant reindustrialisation of Europe.  Central to this is software-driven networking via the proprietary ARX Mithra OS system, as well as the digitisation of heavy combat vehicles in line with the needs of modern European land forces.  Andreas Schwarzenbrunner, General Partner at Speedinvest, commented: ARX Robotics is uniquely positioned to strengthen Europe’s defence capabilities and technological sovereignty through modern, scalable robotics, built on European technology and with a clear focus on software-defined defence.  We believe that within the intersection of critical infrastructure, deep tech, and geopolitical urgency, some of the most consequential companies of the next decade will emerge. ARX Robotics exemplifies this new generation of strategically relevant, tech-driven companies that are actively advancing Europe’s independence in key technologies. Just recently, ARX announced strategic partnerships with global market leaders such as Daimler and Renk aimed at advancing digital transformation, industrial growth, and international expansion. In addition, ARX will continue to grow its team, especially by hiring recognised experts in artificial intelligence, software architecture, and system integration, as well as experienced leaders and engineers from the European automotive industry. Lead image: ARX Robotics co-founders | Photo: Uncredited 

Trustfull, a provider of seamless fraud prevention technology, has secured €6 million in funding to expand across Europe by growing its sales and marketing team and broadening its product lineup to tackle new and evolving fraud threats. Founded in 2020, Trustfull provides an advanced fraud prevention platform built on open-source intelligence. Its AI-driven system analyses hundreds of digital signals, such as phone numbers, emails, IP addresses, and web domains, to assess user risk in real time, enhancing KYC, KYB, and AML processes. Marko Maras, CEO of Trustfull, commented:  We’re excited to welcome Seaya Ventures and Elevator Ventures as new investors in Trustfull, and grateful for the continued support of United Ventures as an existing shareholder. This new round is a strong validation of our mission to help businesses strike the right balance between fraud prevention and seamless customer experience, and it reflects our proven track record delivering measurable impact for enterprise clients. Trustfull is on pace to process over 100 million checks annually by the end of 2025, driven by the widespread adoption of its solutions across multiple sectors, from banking and payments to travel, e-commerce and iGaming. Enterprise clients of Trustfull include Nexi, Ing Bank, Scalapay, Elavon, Cofidis, AirHelp, and Sisal.  The investment comes at a pivotal moment for the global fraud detection and prevention market, which is projected to nearly triple from $33.1 billion in 2024 to $90 billion by 2030. This growth is fueled by high demand for technology that can counteract surging AI-driven fraud, ranging from synthetic identity attacks to deepfake scams and large-scale phishing campaigns. The round was led by Seaya Ventures and Elevator Ventures, with the participation of existing investor United Ventures. Aris Xenofontos, partner at Seaya Ventures, said:  We believe Trustfull is rewriting the rules of fraud prevention through real-time and AI-powered risk intelligence. Their unique ability to analyse hundreds of digital signals with speed and precision positions them as a true category leader in Europe’s TrustTech ecosystem. At Seaya, we’re proud to support them on their journey to become a global reference in fraud prevention. Maximilian Schausberger, Managing Director at Elevator Ventures, highlighted that as fraud tactics grow more advanced, Trustfull is setting a new benchmark for digital risk evaluation and building greater trust online: We are proud to support the team as they continue to build a category-defining platform with lasting impact. The new funding will help Trustfull deepen its presence in Italy, Spain, and France, while accelerating expansion into other high-potential European markets. It will also support the development of advanced fraud detection features and boost adoption of its existing solutions for account opening protection and account takeover prevention. Lead image: Marko Maras, CEO of Trustfull | Photo: Uncredited 

Belfast-based tech company Fluid Focus has secured £640,000 in investment from Co-Fund III and a network of business angels across the UK and Europe, to grow its team, enhance its core product and expand in new markets, beginning with the United States. Fluid Focus is an app which rewards users for healthier screentime and productivity habits. Users earn ‘Fluid Coins’ by avoiding distracting apps and engaging in focused work sessions, which can be redeemed for rewards like weekly giveaways and charitable donations. The company recently partnered with renowned generational expert Dr. Paul Redmond from the University of Liverpool to complete a research programme involving 18 academic institutions and over 2,800 students. The study explored how Gen Z engages with technology, offering students a platform to share how smartphones affect their studies, focus, sleep, and overall mental wellbeing.  Findings revealed that students spend an average of 5.5 hours per day on their phones, equating to 25 years of screen time over their waking lifetime if habits remain unchanged. Connor Mason, Co-Founder of Fluid Focus, shared: The reality is the big tech companies have monetised our time and attention. Every second spent on their platforms translates to revenue. The incentivisation model is all wrong, which is why we as a society are realising a broad range of negative outcomes, from diminishing attention spans to rising anxiety and body image issues. Our mission is to restore individual agency, empowering people to lead healthy, intentional and fulfilling lives. The funding round attracted a diverse group of distinguished local and international investors, with strong participation from Co-Fund III, managed by Clarendon Fund Managers. Among the angel investors are serial entrepreneurs, CEOs, seasoned technology investors, and leaders from Apple, Airbnb, top-tier global banks and law firms. Jill Wilson, Investment Associate at Clarendon Fund Managers, said: Fluid Focus has tapped into the public’s desire for a healthy relationship with technology with a research-led approach and has great potential for growth, particularly in the Gen Z market. We’re excited to see how the company develops and grows with this investment. Fluid Focus’s plan is now to expand the team and establish a presence in the US with a focus on building partnerships with academic institutions and businesses to provide its service for students and employees to enhance productivity, wellbeing and general lifestyles. Glenn Stephenson, Co-Founder of Fluid Focus, said: As a Belfast-born company with global ambitions, this investment marks a major milestone and sets us up to expand into the US market. The challenge we’re tackling is universal: people are overwhelmed by tech that’s designed to keep them hooked. Fluid Focus is proud to be at the front of a growing movement to flip that model - rebalancing how people interact with their devices and giving individuals and institutions the tools to take back their time, focus, and wellbeing. Lead image: Fluid Focus and Clarendon Fund Managers | Photo: Uncredited

Berlin-based maritime tech startup, Tilla, has closed a €2 million funding round designed to accelerate the global expansion and innovation of its crew logistics platform. The new round brings Tilla’s total funding to €4 million since its founding in 2021. Established in 2021, Tilla set out to bring digital transformation to crew change management in commercial shipping. Each year, the shipping industry carries out around 10 million crew trips, incurring costs of approximately $12 billion. Despite the scale, crew change processes remain largely manual and fragmented, relying on calls, emails, and spreadsheets, which leads to inefficiencies, errors, and inflated costs.  To solve this, Tilla has developed a digital, AI-powered platform that streamlines and optimises the entire crew change process. It enables crewing teams to plan, monitor, and continuously improve operations by integrating all critical data sources, including voyage schedules, crew information, port agency data, real-time flight updates, and travel requirements. The platform supports every stage, from planning and automated flight management to invoice processing and reporting, and integrates seamlessly with existing crew management systems.  By using Tilla, ship managers can reduce crew change costs by up to 24 per cent and cut time spent by as much as 40 per cent. Niklas Weidmann, Co-Founder and Managing Director of Tilla, shared:  Our ambition is to become the global market leader and ultimately optimise every step of every crew change, everywhere in the world. The funding will help us get there. We’re very proud to have secured two such complementary and renowned investors. Their deep expertise and their global maritime networks are extremely valuable to us. They’ll enable us to scale faster and sustainably, grow our team, strengthen our market position, and expand into new regions. Since its start, Tilla has gained the trust of many well-known players in the sector. Among its customers are Peter Döhle Schiffahrts-KG, Essberger, Stödig Shipmanagement, Wilson, EXMAR, and Seatrade. Tilla has already facilitated over 35,000 crew trips, is deployed on over 500 vessels, and serves clients and users operating in ten countries across the globe. Narayan Venkatesh, Co-Founder and Managing Director of Tilla, adds:  This funding comes at a pivotal moment for Tilla as we see growing demand for digitised crew logistics. We are a technology startup at heart with a deep understanding of the crew logistics domain. After four years of building and creating value for our customers in Europe, we have a proven approach. Now, with Motion Ventures and EXMAR as partners who understand both the technology and industry landscape, we can accelerate our global value delivery and  expand the platform with new AI-powered planning features, comprehensive financial capabilities and much more. The round is led by Motion Ventures, a global maritime venture capital firm that recently launched a $100 million fund focused on maritime technology. It also includes a strategic investment from EXMAR, a well-established Belgian shipping company with deep roots in the Saverys family legacy. Anders Vartdal, Senior Investment Associate at Motion Ventures, says:  Crew logistics is often an untouched cost line in maritime operations. Tilla’s early traction shows the appetite for solutions that can drive both savings and speed with simplicity. What stood out was how fast the team converted pilots into paying customers, that kind of execution speaks volumes. Niklas and Narayan are building for the industry, with the industry. Ariane Saverys, Deputy COO at EXMAR, noted that after incorporating Tilla’s platform into their operations, they were highly impressed by both the platform’s effectiveness and the capabilities of the team behind it: Investing in Tilla reflects our confidence in their future and the value they bring to maritime crew logistics worldwide. The new funding will allow Tilla to strengthen its platform, expand into international markets such as APAC and the Mediterranean, and accelerate the growth of its global team. Beyond capital, the backing from Motion Ventures and EXMAR brings valuable maritime expertise and extensive global networks, boosting Tilla’s credibility and reinforcing its position as it strives to become the world’s leading end-to-end platform for crew change management. Lead image: Tilla co-founders  | Photo: Uncredited

The European Commission has stated that Temu may be in breach of the EU’s landmark Digital Services Act (DSA). The move marks a significant step in the EU's ongoing crackdown on companies that fail to ensure product compliance within the EU Single Market. Temu, which has rapidly expanded across Europe with its low-cost retail model and aggressive social media marketing, is now under scrutiny for allegedly failing to assess and mitigate the risks of illegal products being sold through its platform. The items, which were identified during a “mystery shopping” exercise, include unsafe baby toys and non-compliant small electronics, “We shop online because we trust that products sold in our Single Market are safe and comply with our rules.”  said Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy.  “In our preliminary view, Temu is far from assessing risks for its users at the standards required by the Digital Services Act. Consumers’ safety online is not negotiable in the EU – our laws, including the Digital Services Act, are the foundation for a better protection online and a safer and fairer digital Single Market for all Europeans.” Risk assessment “too generic” The Commission’s analysis found Temu’s October 2024 risk assessment to be insufficient, as it relied on broad industry information rather than a detailed evaluation of risks specific to its own operations. The Digital Services Act, which came into full effect in early 2024, obliges very large online platforms (VLOPs) to rigorously assess and mitigate risks related to illegal content and product safety. Temu falls under the DSA’s VLOP designation, meaning it must comply with enhanced transparency and safety obligations, including tracing traders, offering user-friendly complaint mechanisms, and preventing harmful design patterns such as addictive user interfaces. Wider investigation underway This development follows the opening of formal proceedings against Temu in October 2024.  The Commission is examining other potential violations, including whether Temu's algorithms rely on manipulative design elements, the transparency of its recommendation systems, and whether it is providing adequate data access to researchers, another requirement under the DSA. The platform has faced increasing scrutiny globally for the traceability of sellers, product authenticity, and safety - issues that are now central to the EU’s tech regulation agenda under the DSA. 

A German AI agents startup is being acquired by a US customer service company in a near $1bn deal, in what is thought to be Europe’s biggest AI exit to date. German startup Cognigy, founded in 2016, is backed by Insight Partners, DN Capital, Global Brain, and Nordic Makers. It is being acquired by NiCE, a US customer service firm headquartered in New Jersey and listed on the Nasdaq and Tel Aviv stock exchanges in a $955 million deal. According to Thomas Rubens, partner at DN Capital, the deal marks “Europe’s largest ever AI exit”. He added: “This is a major milestone for European tech and a signal of what is to come in enterprise AI." Scott Russell, CEO of NiCE, said: “This is a landmark moment for NiCE, a strategic move that fast-tracks our AI innovation agenda and sets a new standard for customer experience in the AI era. “By bringing a market leader in enterprise-grade conversational and agentic AI into the fold, we are accelerating global AI adoption, expanding into new global markets, and creating game-changing value for our customers, partners, and shareholders." Cognigy, which has raised more than $150m, manages AI agents that can handle up to tens of thousands of customer conversations at the same time. It has around 175 customers across over 1,000 brands, including Toyota and Bosch and has offices in Düsseldorf and San Francisco. NiCE says the acquisition will speed up AI adoption across the front and back office. Philipp Heltewig, co-founder and CEO of Cognigy, said: “This transaction represents a pivotal step forward for Cognigy, one that brings immense opportunity for our customers and employees.  "Together, we are uniquely positioned to shape the future of customer experience, uniting the best of trusted AI and human interactions.”

Wayve, the UK AI self-driving startup, has seen its headcount more than double to around 650 in the past 12 months amid its expansion into new markets. While some European tech firms might be curbing hiring amid surging AI demands, new figures show that Wayve is ramping up headcount. The figures show that Wayve had 263 staff as of August 31 2024, a figure which is now understood to have leapt to 650. The leap in headcount comes amid Wayve opening up new testing and development hubs in Germany and Japan, its first expansion into an Asian market. Wayve, which is backed by SoftBank, Nvidia and Microsoft, is also testing its technology in the UK, the US and Canada. According to recruitment firm Code, in May this year, Wayve became Britain’s fastest-hiring tech firm amid a surge in recruitment for roles in AI. Wayve is thought to have been hiring in the UK, its home market, as well as the US, Canada, Germany and Japan. New financial figures for Wayve Technologies show the startup made a pre-tax loss of £62m in the year ending August 31 2024, compared to losses of £41m the year prior. In this period, Wayve was in its R&D phase and not generating material revenues. It has since signed its first major commercial deal with a carmaker, Japan's Nissan. The figures also show that the highest paid director at Wayve, which is headed up by co-founder and CEO Alex Kendall, was paid £317,000 in the period, compared to £169,000 the year before. Wayve carried out a $1.05 billion Series C funding round in 2024, led by SoftBank, marking then the UK’s largest AI fundraise ever and among the top 20 AI fundraises globally to date.

German home electrification start-up 1KOMMA5° has extended its €150 million pre-IPO funding round, which was initially closed in December 2024. The additional capital will be used to accelerate organic growth and scale Heartbeat AI, 1KOMMA5°’s energy management software and virtual power plant (VPP), enabling millions of homeowners across Europe and Australia to switch from fossil fuels to the cheapest and cleanest electricity. The extension brings Sabanci Climate Ventures, the climate tech investment arm of Sabanci Group, on board as a new shareholder. Despite a recession and a shrinking European market for solar and heat pumps, 1KOMMA5° has steadily grown its revenue and maintained profitability in its core hardware business. At the same time, the company has made major investments in Heartbeat AI and its virtual power plant to drive future growth in software revenues. Philipp Schröder, CEO and co-founder of 1KOMMA5°, says:  We are excited to have the backing of another strong long-term investor, supporting us on our way to market leadership in the megamarket of home electrification. Despite two years of recession in Germany and regulatory challenges, we’ve maintained profitable growth. With Heartbeat AI, we are now aiming to become the last energy company consumers will ever subscribe to in their lifetime by replacing conventional utilities via AI-based, automated direct electricity procurement – delivering always the cheapest and cleanest electricity, for decades to come! Between 2025 and 2027, the company aims to invest more than €100 million to scale its software business, with a focus on Heartbeat AI. The energy management platform already controls over 500 megawatts of flexible capacity, positioning it as Europe’s largest integrated residential virtual power plant. Founded in 2021, 1KOMMA5° now has a global workforce of nearly 2,500 and serves over 120,000 customers. To date, 1KOMMA5° has raised almost €400 million in equity and remains debt-free. Existing investors include Hamilton Lane, CalSTRS, G2VP, Porsche Ventures, Eurazeo, b2venture, eCapital, 2150vc, Norrsken, Blue Elephant Ventures, the Haniel and Schürfeld family offices, and Jan Klatten.  Lead Image: Philipp Schröder, CEO & Co-Founder of 1KOMMA5°