This week, we tracked more than 55 tech funding deals worth over €2.3 billion and over 10 exits, M&A transactions, rumours, and related news stories across Europe. If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox. Either way, let's get you up to speed. ? Notable and big funding rounds ??  Kpler receives $1B+ strategic growth equity investment from Sixth Street ??  Oxford Quantum Circuits lands “coming-of-age” £260M funding round ?? Perk secures a €258M credit line to accelerate the global growth of its AI-native platform ??‍?? Noteworthy acquisitions and mergers ?? Berlin-founded Contentful snapped up by Salesforce ??  CommerceClarity acquires Katalogo.ai ?? Vertice acquires Vendr to build AI-powered procurement intelligence platform ?? Entravel Group acquires Moca Traveltech to expand across Spanish-speaking travel markets ? Interesting moves from investors ? Deep Science Ventures and Medicines Discovery Catapult partner to tackle brain drug delivery ? Cambridge Enterprise builds London launchpad for next generation of deeptech founders ? Merantix Capital launches €103M fund for early-stage European AI startups ?️ In other (important) news ??  Revolut, Mistral and Wayve back six-figure “Built in Europe” campaign ⚛️  OQC, JPMorgan Chase and AMD launch Quantum-AI data centre to explore real-world fintech applications ??  EU says tech sovereignty package about “protecting citizens” ? The radar gap killing Western defences — and the Berlin chip startup closing it ? OSS Resistance: it's time companies treat open source maintenance as real work Cleantech: 10 companies that raised the most in 2025 “Speed“ reason CoreWeave leasing data centre space in UK, says European boss ? European tech startups to watch  ??  Poindexter Labs raises £2M to improve training data for advanced AI ??  Molfar raises €1.5M to bring tactical anti-drone radar systems closer to the frontline ??  SolarDew raises €800,000 to scale solar-powered drinking water tech ??  Vivilo raises €628,000 pre-seed round for AI-powered event content ?? hephaistos.bio secures €161,000 to advance sustainable chemical manufacturing

OQC, JPMorgan Chase, and AMD today announced a research collaboration leveraging a new, dedicated Quantum-AI Data Centre built by OQC in London.   JPMorganChase researchers will test near-term quantum and hybrid quantum-classical computing applications via a secure enterprise environment to examine how quantum computing, AI and high-performance classical infrastructure can work together on complex financial services challenges.   The environment will physically integrate the OQC GENESIS quantum system with AMD-supported AI and classical compute, high-performance computing resources and application-level tooling for simulation, optimisation, AI model development and benchmarking. AMD compute technologies will provide the infrastructure to support the platform's AI and classical compute layers.  By placing quantum hardware inside a secure enterprise compute environment, the platform is designed to enable JPMorgan Chase to test hybrid quantum-classical workflows for performance, scalability, and reproducibility against the operational standards used in financial services. The partners will use the platform to conduct research on the application of near-term quantum and hybrid quantum-classical computing, including areas such as portfolio optimisation and expanding explorations around quantum machine learning, while also developing specialised AI models to improve quantum circuit performance.  They also plan to investigate how these quantum-enhanced AI models can accelerate the discovery of novel algorithms purpose-built for financial use cases, and the role of classical compute toward scalable fault-tolerant quantum algorithms.     “Quantum computing has to move from isolated experiments into the secure compute environments where enterprises actually work,” said Gerald Mullally, CEO of OQC.  "That is what we are building with JPMorganChase’s quantum research expertise: a dedicated quantum-AI platform for financial services that combines quantum hardware, AI and high-performance computing to support serious technical research and move the industry closer to practical quantum applications.”   “The financial services industry depends on understanding complexity, managing risk and making decisions with speed, security and confidence,” said Lori Beer, global chief information officer of JPMorganChase. “Through this partnership, our teams will have a dedicated environment to research the near-term utility of hybrid quantum-classical computing in finance and assess how quantum, AI and high-performance computing can work together to address real-world challenges.” “Advancing quantum-AI research will require tightly integrated compute platforms that bring together quantum systems, AI infrastructure and high-performance classical computing,” said Mark Papermaster, executive vice president and chief technology officer at AMD. “AMD is pleased to support OQC and its dedicated environment, which will explore hybrid quantum-AI workflows for financial services and evaluate their performance, scalability and reproducibility in a secure enterprise setting.”   The project marks a shift from experimental quantum access toward secure, integrated infrastructure designed for real enterprise workflows, starting with financial services.   Lead image: Magnific.

GR3N, the Swiss cleantech company advancing the recycling of PET and polyester plastics and fibres, has closed a €15.5 million Series B funding round. The round was led by 360 Capital, with participation from new investor VP Textile. Growth Capital acted as financial advisor to GR3N. The funding comes as demand for recycled PET continues to accelerate. While PET is one of the world's most widely used plastics, current recycling technologies can process only a fraction of available PET waste, leaving most textile fibres, films, and coloured materials unrecycled. At the same time, increasingly stringent regulations and sustainability commitments from major consumer brands are driving the need for scalable solutions capable of processing a broader range of PET waste streams. To address this challenge, GR3N has developed MADE (Microwave-Assisted Depolymerisation), a patented chemical recycling technology that can process all types of PET waste, including both packaging and textile materials. The technology delivers high material recovery yields while reducing CO₂ emissions by up to 80 per cent compared with virgin PET production. Unlike alternative recycling methods such as glycolysis, methanolysis, and dissolution, MADE has no feedstock limitations and produces food-grade monomers that can be recycled repeatedly without any loss of performance. GR3N's intellectual property portfolio includes two patent families covering the depolymerisation process and an additional patent family protecting its proprietary equipment (PEQ). The proceeds from the Series B round will support the development of MODUS, GR3N’s first commercial-scale recycling plant.

AethexAI, a UK voice AI infrastructure company building for enterprises across emerging markets, today announced a $3 million pre-seed round led by 4DX Ventures and the launch of its platform. The round included participation from Enza Capital, Dorm Room Fund, Mojo Ventures, 26 Fund and strategic angel investors, including Stanford faculty, telecoms executives and AI researchers from Anthropic. Voice remains a primary channel for enterprise customer interaction across emerging markets, and while many companies have already experimented with voice AI, most solutions have failed to perform reliably in production.  Existing tools struggle with unreliable connectivity, fragmented telephony, high pricing and poor handling of local speech, often making them more expensive than human agents. AethexAI addresses this gap by rebuilding the voice stack from the ground up for these environments, enabling reliable, cost-effective deployment. This is done through a single platform: self-hosted, market-localised models trained on proprietary data, wired directly into fully managed telephony, orchestration, and existing workflows. Delivered through a no-code interface and APIs, it enables businesses to deploy and scale voice agents within existing workflows at a fraction of the cost of existing providers. The company is initially targeting a market of 1.5 billion people across Africa and the Middle East, where global providers have yet to deliver at scale and plans to expand to other emerging markets at a later date. Founded by Mariama Diallo and Ayooluwa Odemuyiwa, AethexAI was built to make voice agents deployable at scale in emerging markets. Diallo previously worked in investment banking at Goldman Sachs before joining YC-backed Model ML as its first product and growth hire, working closely with large enterprise clients. Odemuyiwa trained as a computer scientist at Caltech, building systems across aerospace and at Meta, before attending Stanford Graduate School of Business. The pair started building AethexAI last year after spending time on the ground with businesses across Africa and the Middle East, where they saw firsthand that existing voice AI models were not built for these environments.  As a result, companies were unable to automate large parts of their customer interactions, leaving significant efficiency gains and revenue opportunities untapped. They left their respective roles to build AethexAI full-time and develop a purpose-built voice infrastructure stack from the ground up. The platform is powered by Kora 1, AethexAI’s proprietary voice model stack, trained on licensed datasets from call centres, radio and content platforms and designed for noisy environments, multiple accents and languages. The company is also launching a developer platform, enabling third parties to build voice applications across the region using a single API. According to Mariama Diallo, co-founder of AethexA, voice is already how businesses operate across emerging markets, but the technology behind it hasn’t kept up: “We kept hearing the same thing from customers: that existing tools simply didn’t work in their environments. That’s why we built our own model stack and infrastructure from the ground up, designed for how these markets actually operate.” According to Ayooluwa Odemuyiwa, co-founder of AethexAI, said: “Voice AI failed in these markets at every layer of the stack. Latency, cost, poor handling of code-switching, and weak performance under packet loss, jitter, and low-bitrate audio in real telecom networks led these systems to break in production." She contends that the fix was not incremental. It required redesigning the entire stack.  “Kora 1 is our family of speech models, specialised by dialect and fully self-hosted. We built and own the data pipeline behind them. Telephony, interruption handling, and retrieval are native to the system, proven and refined through enterprise deployments, not bolted on.” Walter Badoo, co-founder and Managing Partner, 4DX Ventures, said: “With real production deployments already at scale, the AethexAI team is building what we believe will become the defining voice infrastructure layer for the next billion users.”   The funding will be used to scale enterprise deployments, expand engineering and go-to-market teams, and deepen product coverage across key regional markets. AethexAI currently has a team of 10 and expects to double its headcount by the end of 2026.

Mike McQuaid has a message for open source maintainers at profitable companies: "Stop asking permission to fix what your employer already depends on." Open source software underpins critical infrastructure across the global economy, powering everything from public services and financial systems to energy grids, defence technologies and international organisations such as the United Nations.  Yet despite its centrality, much of that infrastructure is still maintained by small numbers of volunteers working in their spare time. The maintainer behind the movement McQuaid is the creator of OSS Resistance, a movement calling on engineers to contribute directly with their time because maintaining the open source infrastructure companies rely on ultimately serves those companies too. His argument is simple: if a business depends on open source software, helping maintain it is not charity — it's work. He describes himself as living “two parallel lives”: one as a technology executive and the other as the long-time project leader of Homebrew, the open source package manager used widely across macOS and Linux systems. “Homebrew is relied on by huge numbers of people, but it’s still run entirely by volunteers.  We have some money coming in, but it’s that awkward middle stage where there’s too much for stickers and not enough to actually pay someone a salary to work on it full-time.” Keep contributing on company time  The idea behind OSS Resistance emerged partly from his experience at GitHub, where he helped drive initiatives such as Open Source Friday and GitHub Sponsors.  But while those programmes encouraged contribution, they still framed open source work as something employees needed permission to do. “For years, my own attitude was basically: I’m going to do this during work hours until someone tells me not to. And nobody ever did. “As long as the work got done, nobody cared.” McQuaid argues that many maintainers already quietly spend part of their working day contributing to projects their employers depend on — and that this is both rational and sustainable. “There’s always some amount of bandwidth and slack in the system,” he says. “People might check TikTok, text friends or browse Amazon during downtime — or they could answer an open source pull request.” For him, the larger issue is burnout. Once maintainers have families and full-time jobs, the expectation that they should continue performing unpaid maintenance work deep into the evenings becomes increasingly unrealistic.  The strategic importance of open source software The consequences extend far beyond developer communities. As governments, militaries and critical industries become increasingly dependent on open source software, the sustainability of the ecosystem becomes a strategic concern. For example, according to Benjamin Wolba, co-founder of the European Defense Tech Hub, open source software has become deeply embedded in modern defence systems and Ukraine’s wartime technology stack. “Open source enables rapid iteration and deployment at a pace traditional defence struggles to match,” Wolba says. “When development cycles are measured in days instead of decades, openness beats over-engineered, closed systems.” He points to projects such as ArduPilot, Betaflight, YOLO and MAVLink as examples of open source technologies now embedded across modern battlefield systems. Open Source becomes a sovereignty issue Max Corbani, Partner at >commit, believes those pressures are only intensifying. The early-stage venture fund is built on the conviction that the next generation of global technology companies will emerge from open source. It combines ecosystem data from GitHub, package managers, container registries, Discord servers and developer forums with a network of open source founders, executives and enterprise CTOs to guide investment decisions and support portfolio companies as they scale. Corbani argues that geopolitical, technological and regulatory forces are converging simultaneously. “I think the pressure is only going to keep growing.” One major driver is digital sovereignty with increasing demand for open source from companies and governments that want more ownership of their infrastructure and more digital sovereignty. "The ability to run, adapt and control your own infrastructure independently is becoming an imperative, and open source is the only credible and realistic path to genuine sovereignty,” Corbani adds.  “You simply cannot build sovereign digital infrastructure on top of someone else’s closed platform.” Too much dependence, too little support At the same time, Europe continues to rely heavily on OSS while investing relatively little in the people maintaining it.  Linux Foundation research found that only 28 per cent of European organisations employ full-time contributors to the open source projects they depend on, despite 81 per cent reporting high value from doing so. Research from Germany’s Sovereign Tech Agency paints an equally fragile picture: a third of maintainers surveyed receive no payment at all for their work, while nearly three-quarters of projects are maintained by three people or fewer. In April, the agency launched a new funding program to support maintainers who work in the field of open standards and interoperability and want to get involved with the standardisation organisations IETF, W3C, or ISO with a monthly remuneration of €4800 to €5200 for the time spent on standardisation work and committee meetings. For McQuaid, the real shift needed is cultural rather than purely financial: maintainers establishing healthier boundaries around what they owe, to whom, and on what terms. Money can help, he says, but it is not a cure-all. “Homebrew has a reasonable amount more money than we used to. It fixes some problems. It introduces new ones.” Automation meets maintenance AI is simultaneously easing and intensifying the maintenance burden. McQuaid has already seen the benefits directly inside Homebrew. “Our main issue tracker currently has one open issue,” he says. “A huge amount of bug-fixing work is now almost automated.” Because Homebrew is a command-line tool with highly structured issue templates, AI systems can often reproduce, diagnose and patch problems quickly.  But both interviewees stress that human oversight remains critical. “Open source has always been built on trust — that’s its most important foundation, and no technology will change that,” Corbani says. “AI has the potential to accelerate contribution significantly, but we still need humans willing to take accountability.”“These tools can absolutely augment contributions and help maintain projects if they’re used wisely. But they can also be weaponised to identify and exploit vulnerabilities faster and at a much greater scale.” The cost of saying no Regulation is adding yet another layer of complexity. Frameworks such as the EU Cyber Resilience Act are likely to increase expectations around security, resilience and long-term support for open source projects. “Regulatory pressure is going to push companies to demand stronger guarantees from the open source they depend on,” Corbani says. Yet maintainers are already struggling to keep pace. “At Homebrew, we’ve become much more aggressive about saying no,” McQuaid says, pointing to the project’s decision to phase out Intel Mac support as Apple moves on from the architecture. “We simply do not have the resources to support hardware the way Apple itself can.” For both McQuaid and Corbani, the broader challenge is no longer whether open source matters but whether the ecosystem can evolve to support the people maintaining the infrastructure modern economies increasingly depend on. If your business depends on open source infrastructure, the next contribution doesn't necessarily need to come from a sponsorship budget. It might simply come from giving your engineers permission to spend an hour fixing the software you already rely on. Or, as OSS Resistance argues, perhaps they shouldn't need permission at all.

European cleantech companies raised €3.1 billion in 2025, with investment activity concentrated around clean energy infrastructure, industrial decarbonisation, advanced materials, recycling technologies, carbon management, and electrification. Large infrastructure and energy-transition projects attracted the biggest rounds of the year, particularly in areas such as battery storage, renewable energy, clean fuels, electric vehicle infrastructure, and low-carbon industrial production. Several of the largest financings were aimed at scaling commercial operations and supporting the deployment of capital-intensive facilities. Debt financing played a significant role across the sector, accounting for a substantial share of total capital raised. Equity funding remained strong, particularly for companies developing climate-focused software, advanced materials, circular economy solutions, and carbon removal technologies. Geographically, Germany emerged as the leading market by funding volume, followed by the UK, France, the Netherlands, and Switzerland. Together, these countries accounted for the majority of capital raised, although funding activity was distributed across a broad range of European markets, including the Nordics, Southern Europe, and Central and Eastern Europe. Overall, the sector's funding activity highlights continued investor confidence in technologies supporting the energy transition, circular economy, and industrial sustainability, while also indicating a growing focus on scaling proven solutions from pilot projects to commercial deployment (for more detailed analyses of the European technology ecosystem, check out Tech.eu’s annual report: European Tech 2025 - The Big Picture). Here are ten cleantech companies that raised the most in 2025. Amount raised in 2025: €810M Enpal is a company that provides integrated residential energy solutions, including solar panels, battery storage systems, heat pumps, EV charging stations and energy management software. The company enables homeowners to generate, store and manage renewable energy through a connected platform designed to reduce energy costs and increase energy independence. Founded in Berlin in 2017, Enpal operates primarily in the German market and has expanded its offering beyond solar installations to a broader home energy ecosystem. In 2025, Enpal secured €810 million across two rounds to make solar panels and heat pumps more affordable for European homes. Amount raised in 2025: €252.5M Pulse Clean Energy is a UK-based company specialising in the development, construction, and operation of battery energy storage systems (BESS). The company helps accelerate the transition to a low-carbon energy system by balancing renewable energy supply and demand, improving grid stability, and supporting the integration of renewable power sources. Through innovative energy storage and optimisation solutions, Pulse Clean Energy is working to build a reliable, affordable, and sustainable energy infrastructure for the future. In 2025, Pulse Clean Energy secured €252.5 million to fuel the construction of six new ready-to-build BESS sites. Amount raised in 2025: $162M Climeworks is a Swiss company that develops and operates direct air capture (DAC) technology, which removes carbon dioxide from the atmosphere. Founded in 2009, the company provides carbon removal services to businesses and organisations and works on projects involving the capture and permanent storage of CO₂. Climeworks operates direct air capture facilities and collaborates with partners in the carbon storage and climate technology sectors. Climeworks raised $162 million in 2025, bringing its total funding to more than $1 billion and providing additional capital to support operational expansion and the development of next-generation direct air capture (DAC) technology. Amount raised in 2025: €118M Aegis Energy is a UK-based infrastructure company developing a network of clean, multi-energy hubs for commercial vehicle fleets. Its hubs are designed to provide a range of refuelling and recharging options, including electric charging, hydrotreated vegetable oil (HVO), hydrogen, and bio-CNG, to support the transition of trucks and vans to lower-emission energy sources. The company focuses on building public infrastructure for commercial transport operators across the UK. In 2025, Aegis Energy raised €118 million to establish clean energy hubs in the UK and help decarbonise commercial vehicles. Amount raised in 2025: €100M WAAT is an electric vehicle charging company that provides charging solutions for businesses, fleet operators, property owners, and public sector organisations. The company offers services including charging infrastructure installation, operation, maintenance, and energy management, supporting the deployment and management of EV charging networks across residential, commercial, and public environments. WAAT raised €100 million in 2025 to accelerate EV charging rollout across Europe. Amount raised in 2025: €94.8M Avantium is a chemical technology company focused on developing and commercialising renewable and circular materials. The company develops technologies that convert renewable carbon feedstocks, such as plant-based sugars and captured CO₂, into chemicals and polymers for applications in packaging, textiles, and other industries. In addition to its materials technologies, Avantium provides research and development solutions in catalysis and sustainable chemistry. In 2025, Avantium secured €94.8 million across two rounds to commercialise plastic PEF and reach EBITDA break-even by 2027. Amount raised in 2025: $100M CuspAI is a company focused on accelerating the discovery and development of advanced materials. The company combines generative AI, molecular modelling, and physics-based simulations to identify and design new materials for applications across industries including energy, climate technology, semiconductors, and manufacturing. Its platform is designed to reduce the time and cost associated with traditional materials research and development. In 2025, CuspAI secured $100 million to unlock AI’s potential in climate materials. Amount raised in 2025: £62M Pulpex is a sustainable packaging company that develops fibre-based bottles designed as an alternative to conventional plastic and glass packaging. The company works with consumer goods manufacturers and retailers to develop and commercialise recyclable packaging solutions made primarily from renewable pulp materials. Pulpex's technology is intended for use across a range of product categories, including beverages, personal care, and household products. In 2025, Pulpex secured £62 million to construct its first commercial-scale manufacturing facility near Glasgow. Amount raised in 2025: €60M GravitHy is an industrial company developing a low-carbon iron production facility that will use renewable hydrogen to produce direct reduced iron (DRI) for the steel industry. The company aims to supply iron products with a lower carbon footprint than conventional blast furnace production, supporting the decarbonization of steel manufacturing and related industrial value chains. GravitHy secured €60 million in 2025 to advance low-carbon iron production and steel decarbonization. Amount raised in 2025: €51.5 Fairmat is a company that develops recycling solutions for carbon fibre composites. The company uses proprietary processes to recover and transform composite waste into engineered materials that can be used in applications across industries such as mobility, electronics, consumer goods, and construction. Fairmat's technology is designed to support the circular use of advanced materials and reduce waste from composite manufacturing and end-of-life products. In 2025, Fairmat secured €51.5 million in a Series B to close the loop on material recycling.

From 8-12 June at Olympia and across London, London Tech Week brings together over 30,000 tech leaders, founders, and decision-makers from 130+ countries for one transformative week of discovery, connection, and strategic positioning. For Europe's most ambitious tech ecosystem, this is where the future takes shape. What You'll Gain The Intelligence That Drives Real Decisions Move beyond the hype. Gain unfiltered insight into agentic AI, national security implications, quantum breakthroughs, and the emerging risks reshaping competitive advantage across European and global markets. This isn't theoretical discussion – you'll learn from organisations already implementing transformative technologies, from Berlin-based AI pioneers to Stockholm fintech disruptors and London's deep tech innovators. Understand how regulatory frameworks like the EU AI Act are being navigated in real-time by companies leading the charge. Access to Innovation Before Your Competitors Connect directly with the startups transforming fintech, health tech, climate tech, and critical infrastructure – before they're on everyone's radar. London Tech Week showcases Europe's most promising scale-ups alongside global innovators, giving you early access to solutions addressing the continent's most pressing challenges: sustainable technology, digital sovereignty, and the future of work. Discover breakthrough technologies solving problems you haven't yet identified and gain competitive intelligence that positions your organisation ahead of market shifts. Strategic Relationships That Deliver ROI This isn't networking for networking's sake. With 300+ exhibitors and curated programming across every major technology vertical – from enterprise SaaS to Web3, cybersecurity to quantum computing – you'll leave with tangible outcomes: partnerships, pilot opportunities, investment prospects, and clear next steps. Whether you're seeking European expansion partners, evaluating emerging technologies, or building your innovation pipeline, London Tech Week delivers the connections that matter. Why Tech.eu Readers Can't Miss This As a member of the Tech.eu community, you're already tracking Europe's technology evolution. London Tech Week offers something different: the opportunity to shape it. Engage with policymakers, investors, and innovators to define Europe's digital future. Participate in discussions on topics that matter to your business – from navigating post-Brexit tech collaboration to capitalising on Europe's growing venture ecosystem. Your Exclusive Access As a valued member of the Tech.eu community, you can access London Tech Week at an exclusive discounted rate. Register your place and enter the code TECHEU25 for a 25% discount on your Premium pass. Join the thinkers and doers shaping the future of business through technology. This June, be where Europe's tech future is written. Get your pass

New Dawn Bio, a deeptech startup developing what it describes as the world's first cultured wood, has closed a €2.1 million oversubscribed pre-seed funding round. The round was led by CapitalT, with participation from Norrsken Evolve, Ontdekkers Group, and a group of prominent angel investors, including Jelle Prins. Founded in 2024 by Tom Clement (CEO) and Kianti Figler (COO), New Dawn Bio is developing a new approach to producing one of humanity’s oldest and most widely used materials. By harvesting stem cells from trees, multiplying them in bioreactors, and guiding their development into specific shapes, the company can grow wood into its intended form. This process eliminates the need for logging and enables production up to 10,000 times faster than conventional forestry. Tom Clement, co-founder and CEO of New Dawn Bio, said the wood industry still relies on a centuries-old process of shaping rectangular boards and beams from round tree trunks: For the first time in history, we can grow premium wood directly into its final shape. This funding allows us to advance our technology and bring a practical product to market. New Dawn Bio’s technology aims to address the environmental and industrial challenges of traditional timber production. With 5.3 million hectares of tropical forest lost annually, the company’s approach could help reduce pressure on natural forests while avoiding up to 2.1 gigatons of direct CO₂ emissions each year. Its shaped-wood production process also reduces material waste and manufacturing costs by eliminating many conventional woodworking steps. At the core of the company’s innovation is a new approach to wood production: cultivating living plant cells into wood structures rather than harvesting and processing trees. By combining advances in cell biology, materials science, and engineering, New Dawn Bio is developing tunable wood materials while using AI to accelerate research and development. The funding will be used to support the next stage of the company’s development, including further technology advancement and team growth. New Dawn Bio brings together expertise from a range of scientific and engineering disciplines to support the development and scaling of its cultured wood technology.

Merantix Capital has announced the final close of its €103 million AI Fund, which will invest in early-stage AI-native companies across sectors including logistics, manufacturing, energy, finance, healthcare, life sciences, robotics, enterprise software, and physical AI. The fund’s limited partners include Union Investment, Jungheinrich, KPMG Germany, the Robert Wood Johnson Foundation, and the W.K. Kellogg Foundation. The fund builds on Merantix Capital’s first fund, which focused on venture studio incubations and backed companies including revel8, Deltia, Vara, and Cambrium. The new fund will allocate capital equally between venture studio companies developed with the Merantix team and direct investments in pre-seed and seed-stage AI startups across Europe. Merantix Capital’s investment strategy focuses on companies applying artificial intelligence to industry-specific use cases, particularly in sectors where AI adoption may support operational efficiency and workflow optimisation. With investment teams based in Berlin and London, the firm invests in founders across Europe. The fund has already made investments in companies including Droidrun, which develops mobile-native AI agent infrastructure, Arqh, focused on logistics optimisation, and Outpost Bio, which applies AI to human microbiology. The portfolio also includes several companies currently operating in stealth mode across logistics, manufacturing, recruiting, ERP, energy, and fashion technology. Merantix Capital operates within a broader platform that includes the Merantix AI Campus in Berlin, the London AI Hub, AI House Davos, and Merantix Momentum, an AI solutions provider focused on enterprise AI implementation. These initiatives provide portfolio companies with access to industry networks, technical expertise, and potential commercial partnerships.

Kodesage, a startup developing an on-premise AI platform for legacy software modernisation, has raised $6.6 million in a seed funding round led by VentureFriends. Existing investor Portfolion also participated in the round, alongside angel investors including Christian Szegedy, co-founder of xAI, and German footballer Mario Götze. Founded in 2024 by Gergely Dombi, Miklos Szurdi and Gyorgy Szilagyi, Kodesage helps enterprises understand, document and modernise complex legacy software systems. Its platform extracts information from source code and documentation to create a continuously updated knowledge layer that enables teams to maintain, migrate and support mission-critical applications with greater efficiency and lower risk. Kodesage is primarily focused on highly regulated industries, including banking, insurance, energy, transportation, telecommunications and the public sector, where critical business operations often continue to rely on software built decades ago. While these systems remain essential to day-to-day operations, modernising them can be costly and complex, particularly as experienced engineers retire and institutional knowledge becomes harder to access. The platform is designed to analyse both modern and legacy technology stacks, including Oracle Forms, PL/SQL, COBOL, PowerBuilder and RPG. It automates tasks such as codebase discovery, documentation generation, context-aware code conversion, test creation and AI-assisted production support. To address data residency and compliance requirements, Kodesage operates entirely within customer-controlled environments, whether on-premise, in a virtual private cloud or in fully air-gapped deployments. This approach allows organisations to use AI-powered tooling while keeping source code, databases and business-critical information within their own infrastructure. Software modernisation is rarely straightforward, particularly in regulated industries where legacy and modern systems often need to coexist for years. As institutional knowledge gradually disappears, the burden of maintaining these systems continues to grow. Our goal is to help organisations modernise faster, reduce operational complexity and improve support through AI-assisted tooling, said Gergely Dombi, co-founder and CEO of Kodesage. The company plans to use the new funding to expand its go-to-market efforts across the US and Europe, while continuing to invest in product development and engineering. Kodesage said its long-term vision is to enable self-healing enterprise applications capable of continuously learning, testing and validating improvements with human oversight.

A new Cambridge Enterprise Initiative called Leaps is launching today to embed Cambridge-based companies in complementary ecosystems, giving selected founders access to new markets, talent and investment in key geographical hotspots to enable their success The initiative has been launched in collaboration with global partners Phoenix Court, Balderton Capital and the BioInnovation Institute Foundation (BII). With space for three companies, the London Leap will allow Cambridge startups to be embedded within the dynamic London ecosystem, which attracts not only international capital, but has a reputation for continued unicorn creation.  With Cambridge being ranked as one of the world’s top cities for innovation output per capita in the Ecosystem Index, behind only the Bay Area and Boston, the deep connection with London will connect two powerful and complementary ecosystems. The aim is to boost Cambridge-born companies, translating the world-renowned research at the University of Cambridge addressing some of the major global challenges – climate health, human health and quantum computing to name just a few.  Since 1995, the companies supported by Cambridge Enterprise have collectively raised over £4.9bn, making Cambridge a source of trusted commercial science-based innovation. From idea development to investment, we provide the diverse support needed by researchers, innovators and talented teams tackling the challenges facing the world today. Notable spinouts from Cambridge Enterprise include BlueGnome, Centessa Pharmaceuticals, Gyroscope, Solexa, VocalIQ and Cytora. Companies will be invited to apply and chosen on a competitive basis by the Leap partners and an advisory board formed by investors and serial entrepreneurs with a global presence. Among them are Susan Hill, CEO of Mestag Therapeutics, Daniel Mahony, Senior Partner at Novo Holdings UK, Lord David Prior, Deputy Chairman UK and Global Senior Advisor at Lazard, Dr Bobby Yerramilli-Rao, Chief Strategy Officer at Microsoft and Dr Kaja Wasik, CEO of Echo Labs.  Jim Glasheen, Cambridge Enterprise Chief Executive Officer said: “Companies cannot grow and scale in isolation. London is a globally connected hub. Our partners can help our companies become a ‘local’ within these complementary innovation ecosystems, creating the meaningful connections that allow companies to grow. London is only the beginning, as we identify new ecosystems in different locations and continue to build on a global proposition of Leaps.” Suranga Chandratillake, General Partner at Balderton, said: “Cambridge continues to be one of the most exciting ecosystems for deep tech, producing companies such as Wayve, Healx and Darktrace. The next generation of ambitious founders deserves the support to match that ambition. This is why we’re delighted to partner with  Cambridge Enterprise through Leaps, enabling the connections that are such a critical part of building a successful tech business.”      Julia Hawkins, General Partner at Phoenix Court, said: “Cambridge has long produced some of the world’s most ambitious deep tech companies, from pioneers like Raspberry Pi to breakthrough businesses such as Nyobolt and CuspAI. The opportunity now is to help more of these companies connect earlier with global markets, talent and customers. London is one of the few ecosystems in the world with the density of operators, investors and international networks to help accelerate that journey.” Jen Nielsen, CEO at BioInnovation Institute, said: “We are excited to support the London Leaps initiative and help strengthen the bridge between Cambridge and other leading innovation ecosystems. At BII, we are passionate about turning outstanding scientific research into commercially viable companies, and Cambridge represents one of the world’s foremost hubs for scientific excellence, entrepreneurial talent and breakthrough innovation.” Lead image: Pixabay.

CommerceClarity, an AI agent platform for catalogue operations used by enterprise retailers and brands including Prada, STIGA, Cisalfa Sport, Arcaplanet, Next Hardware & Software and Top Farmacia (Hippocrates Holding), has acquired Barcelona-based startup Katalogo.ai. As part of the transaction, Katalogo.ai founder Luca Cozzolino will join CommerceClarity's founding team as Chief Product Officer. The acquisition marks CommerceClarity’s first M&A transaction, completed 18 months after the company was founded and six months after it raised €2.7 million in funding. The acquisition brings together two companies working to address the growing complexity of product catalogue management in e-commerce. As retailers expand across multiple channels, markets and marketplaces, and as AI-powered search and shopping agents increasingly influence product discovery, the quality and structure of product data have become critical factors in online visibility and performance. CommerceClarity has developed an AI-powered platform that helps retailers and brands structure, enrich and validate catalogue data across sales channels. The platform acts as an intelligence layer that enables businesses to manage catalogue operations at scale while maintaining data quality and compliance requirements. Katalogo.ai was focused on building AI-powered styling agents for retail catalogues, capable of analysing available products and generating curated outfit and product recommendations. The company’s technology was designed to help fashion and lifestyle brands create more personalised shopping experiences while maximising the value of their product data. We had identified the same problem from two different angles. Luca approached it from the merchant and platform side, while we focused on enterprise infrastructure. Bringing the two approaches together allows us to accelerate the development of a shared vision, said Federico Sargenti, co-founder and CEO of CommerceClarity. Cozzolino brings experience across e-commerce, retail and product development, having held product leadership roles at Shopify and Zalando. At Katalogo.ai, he focused on developing solutions to the growing challenges of product catalogue management. When I met the CommerceClarity team, it became clear that our expertise was highly complementary. Joining forces creates an opportunity to accelerate product development and pursue a larger vision for the future of commerce, says Cozzolino. The acquisition coincides with CommerceClarity’s international expansion, with the UK becoming the company’s first market outside Italy. As it expands internationally, CommerceClarity said it will continue to scale its AI-driven catalogue operations platform and its “Service as a Software” model, under which dedicated AI engineers work alongside customers to deploy and optimise catalogue management agents across product categories.

Innovorder, a French restaurant technology company specialising in the digitalisation of restaurant operations, has raised €20 million in a funding round led by UL Invest, the family office of technology entrepreneur Laurent Useldinger. The transaction combines a capital increase with the partial buyout of shares held by existing investors. Evolem, which first invested in the company in 2019, remains a shareholder following the operation. Founded in 2014, Innovorder develops cloud-based software and digital solutions for restaurant operators across both commercial and contract catering. Its all-in-one SaaS platform supports a wide range of operational functions, including order management, payment processing, kitchen operations, business management, customer loyalty, and AI-powered reporting. The company serves customers across multiple segments, including quick-service restaurants, bakeries, coffee shops, food courts, transport catering, as well as schools, universities, hospitals, and corporate dining facilities. In the European contract catering market, estimated at €22 billion and still largely reliant on legacy systems, Innovorder has established a strong presence as a cloud-native technology provider. Over the past 18 months, the company has expanded its focus on artificial intelligence, building a dedicated AI team and deploying its first AI agents for customers. Central to this strategy is Atlas, Innovorder’s proprietary platform designed to automate operational and management tasks while integrating with existing software systems. The company says the technology helps restaurant operators improve efficiency and reduce the time spent on routine administrative work. The funding comes as Innovorder continues to expand across the European restaurant technology market. The company said it has been profitable since 2024 and reports annual organic growth of 40 per cent. It expects to generate €15 million in revenue in 2026. The new capital will be used to support Innovorder’s next phase of growth, including further product development, expansion across European markets, potential acquisition opportunities, and the strengthening of its position in both commercial and contract catering.

Semble has raised £30 million in a Series C funding round led by Revaia, with participation from Partech and existing investors Mercia Ventures and Octopus Ventures. Semble is a UK-based healthcare technology company that provides a practice management and care coordination platform for outpatient healthcare providers. Its software helps clinicians, medical practices, and healthcare organisations manage patient journeys, coordinate care, and streamline clinical and administrative workflows through a unified platform. The company says more than 10 million patients have received care through clinicians using its platform. Semble also serves more than 1,700 healthcare organisations, including Nuffield Health, Welbeck, Midland Health, London Doctors Clinic, Modality, and ProblemShared. According to the company, adoption has increased among private outpatient hospitals and healthcare groups seeking to consolidate multiple operational systems into a single platform. Commenting on the funding, CEO and co-founder Christoph Lippuner said that healthcare providers have traditionally relied on disconnected technology solutions to address operational challenges, a fragmented approach that can increase complexity for providers and create a less seamless experience for patients: What healthcare organisations need is intelligent orchestration across the entire care journey. The practices and groups that win over the next decade will be the ones that deliver the best patient experience end-to-end. This investment allows us to rapidly scale that vision across the UK and Europe. Semble plans to use the funding to expand its presence among large healthcare groups, strengthen its position in the UK and France, and further develop its AI-powered care orchestration capabilities.

.The European Union today unveiled its plan to reduce its reliance on US and overseas tech providers to power its economy, saying its proposals were about “making our own choices”.   Dubbed the “European Technological Sovereignty Package”, the proposals, unveiled by the European Commission, are aimed at strengthening the bloc’s capabilities in AI, semiconductors, cloud computing and open source tech.   Commission President Ursula von der Leyen said: “We cannot afford to depend on others for the technologies that keep our hospitals running, our energy grids stable and our services secure. This is about protecting our citizens, defending our interests and making our own choices. Europe has the talent, the research excellence, the industrial base and the Single Market. Together, we must turn these strengths into technological sovereignty.”   The issue of EU tech independence is a hot-button issue, as the bloc plays catch-up to the US and China. The issue has become more pronounced amid at times volatile relations between the EU and US under President Trump.    The new proposals could inflame relations with the US, which views EU tech laws as protectionist measures which unfairly penalise US tech firms.   The EU Commission said the proposals represent a “major shift” in the EU’s approach to technology, saying they support Europe's ambition “to become an AI continent, strengthen its digital autonomy and help build a more sustainable digital future”.   A key plank of the package is a proposed "Cloud and AI Development Act", which aims to triple data centre capacity in Europe over the next five to seven years.    The proposal introduces sovereignty requirements for cloud providers in sensitive sectors including banking, energy and healthcare. Another legislative proposal is on chips, which will look to boost demand for EU-made chips.   The proposal is aimed to “speed up permitting, deepen cooperation with like-minded partners and introduce a new excellence label for Europe's semiconductor regions”.   The package also includes a move for the public sector to use more open-source tech and plans to ensure that data centres are integrated in a “sustainable and transparent manner”.   The proposals will now be scrutinised by the bloc’s governments and the European Parliament for negotiations on a finalised version. The Tony Blair Institute’s director of science & technology, Keegan McBride, said: “This package is an important step - in the age of AI, access to computing power, energy, talent and digital infrastructure will determine which countries prosper. But a full retreat into a Europe-first tech approach will leave the continent weaker. Europe can’t regulate its way to competitiveness; it must build. Many of the recommendations set out in the Draghi Report remain unimplemented, and there’s still much more to do if Europe wants to close the gap with the US and China." Matthew Hodgson, co-founder of open source project Matrix, said: “Europe has been moving towards digital sovereignty for some time, and today’s Tech Sovereignty package is another milestone on that journey. The EU Open Source Strategy is a smart move in helping to ensure sovereignty, and it highlights the need for improved public procurement of open source solutions, better governance frameworks and support for sustainable open source business models to help combat freeriding."

Apoha, a deeptech company pioneering what it calls Liquid State Intelligence emerges from stealth today with $36 million in funding.  The round is led by Singular, with participation from Tim Draper’s Draper Associates and continued backing from seed investors Redalpine, Seedcamp, Wilbe and Nucleus, alongside grant funding from Innovate UK, the UK’s national innovation agency. For decades, scientists did not have enough evidence to answer the most fundamental questions of molecular science. They could determine what a molecule was from its sequence, and what it looked like from its structure — but not how it actually behaved under real-world conditions. The only clues they had were limited and narrow measurements under specific lab conditions. Because this information is missing, companies make billion-dollar decisions everyday with a lot of uncertainty.  Drugs enter clinical trials without fully understanding how they will work in patients. Food products are launched with limited understanding of how the target customer will perceive them. New materials are used in the real world without fully understanding how they will perform under everyday conditions. As the frontier of artificial intelligence moves beyond language and code into systems that act on the physical world, another gap is emerging.  While machines have learned to see and to read, they have not learned to feel matter: to perceive how a drug responds to real-world conditions, how a flavour is perceived, how a material functions in real-world conditions.  Vision and language have been digitised at scale, but the behaviour of matter has not.  Enter Liquid State Intelligence Apoha creates that missing data layer for physical-world AI: large-scale empirical data about how matter behaves, enabling more powerful reasoning, prediction, and facilitating autonomous scientific discovery. Apoha calls this layer Liquid State Intelligence: a new category of molecular science alongside sequence and structure. In building the foundational data class of molecular behaviour, Apoha is rewriting how the world discovers and designs medicines, food and materials. The science behind Apoha traces back to 2008, when founder and CEO Shamit Shrivastava began researching a problem the Nobel Prize-winning Hodgkin-Huxley model of nerve signal transmission had left unresolved: the physics of what happens at the boundary where matter meets liquids. Shrivastava discovered that those boundaries carry a measurable record of how molecules interact, respond to stress and change over time. His discovery was named one of Scientific American’s 13 Discoveries That Could Change Everything in 2018 and has since been cited more than 1,500 times across 19 papers. In 2021, Shrivastava co-founded Apoha with Anshika Srivastava, Apoha’s COO and former Executive Director at Goldman Sachs, to turn his research into the world’s first platform for measuring molecular behaviour at scale. Today, the company holds more than 60 patents covering hardware, software, data and AI models. Turning molecular behaviour into readable data Apoha's first product is VIBE® — Variations in Inter-facial Behaviour Under Excitation — the empirical readout of how a molecule, material, or formulation behaves under real-world conditions. To generate it, Apoha's platform takes a sample so small it would fit on the head of a pin, suspends it in liquid, applies a controlled series of stresses, and captures the wave patterns the molecule generates in response.  Recorded in real time, those wave patterns become more than 1,000 empirically measured descriptors of behaviour — a single VIBE readout resolving simultaneously what conventional approaches measure one property at a time. Within minutes, a VIBE® readout can tell whether an experimental drug will fail before it ever reaches a clinical trial, saving years of work and hundreds of millions of dollars per failed candidate. The same readout works across food, materials, and any domain where how matter behaves determines whether a product succeeds. Early commercial validation The platform is already in commercial use. Joint research with Boehringer Ingelheim, a multi-year commercial partner, has shown Apoha identifying high-risk antibody candidates with greater than 90% precision from as little as 8 micrograms of material.  For Ethris, the German biotech, Apoha is working on improving in-vitro to in-vivo correlation, as a way of predicting how lipid nanoparticles carrying mRNA will behave in animals. THIS, the plant-based food company, used Apoha’s technology to find a replacement for protein in a product destined for the supermarket shelves in record time. The company also partners with Somru BioSciences and multiple Fortune 500 companies across pharma, food and beverage, and materials sectors. Shamit Shrivastava, CEO and co-founder at Apoha, said: "Liquid State Intelligence took 15 years of science and 5 years of company-building to bring to life. There is no shortcut to this data class — it cannot be scraped from the internet, synthesised, or retrofitted from existing assays. It has to be measured.  Where sequence gave us the language of biology and structure the language of design, Liquid State Intelligence gives us the language of behaviour — what matter, molecules and materials actually do — and we are the company building it." Raffi Kamber, Co-Founder and GP at Singular said: “Apoha represents a new generation of European scientific companies where AI is not a future promise, but a practical tool already transforming how biology is done.  For the first time in 25 years, we are back to creating genuinely new science, being commercialised by founders with drive and global ambition.”   The funding will be used to build Liquid State Intelligence into the foundational data class of molecular behaviour, used across biologics, food, materials, and the next generation of physical-world AI.

An executive who runs the international business of a US cloud company central to the UK’s AI plans says it’s leasing data centre space in the UK rather than building data centres so as to bring compute to the market as quickly as possible, amid soaring demand. Backed by Nvidia, CoreWeave, along with Nscale, is key to the UK government’s AI plans, pledging billions of pounds of investment in AI data centre capacity into the UK. CoreWeave currently operates two data centres in England: one in London Docklands with partner Digital Switch, and one in Crawley with partner Digital Realty. It is also partnering on a data centre in Lanarkshire, Scotland, with partner DataVita. Ben Richardson, VP strategy, who heads up its international strategy, said: “The main reason that we took the approach we took in the UK is speed. When you look at the AI market, speed is one of the greatest currencies, if not the greatest currency. "We needed to bring compute to satisfy the demand to our customers. And when you are trying to do that, you need to do that at the fastest velocity you can. And the fastest way to do that on analysing the market in the UK is to sub-lease space inside of an existing facility. Otherwise, generally speaking, it might take you two to two and a half, three years.” Speaking on the Tech.eu podcast, Richardson also spoke about CoreWeave’s strategy in the UK and Europe, its relationship with the UK government, the challenge of onboarding new chips, and CoreWeave’s business model. CoreWeave, commonly known as a neocloud, has inked in multi-billion-dollar AI infrastructure deals with Meta and Microsoft.

Italian startup Vivilo (formerly known as Jubatus) has raised €628,000 in a pre-seed funding round to support the next phase of its growth. The round attracted a group of Italian investors, including entrepreneurs, executives, engineers, lawyers and technology professionals. Founded by Logan Para, Marco Ciabini and Gionata Manduchi, Vivilo has developed a proprietary platform capable of recognising faces, race numbers, objects, vehicles and other visual elements within event footage. The technology automatically generates personalised content (including photographs, video clips and short-form videos) which participants can purchase, download and share shortly after an event concludes. The company works with both event organisers and content production partners, helping automate what has traditionally been a time-consuming post-event process. By simplifying content distribution and reducing manual workloads, the platform aims to create additional revenue opportunities for organisers while improving the experience for participants. Vivilo's technology is designed for a broad range of event formats, including sports competitions, motorsport events, music festivals, trade fairs, concerts and community gatherings. Vivilo was born from a simple observation: participants often invest significant time and effort into an event, yet have limited access to professional content that captures the experience. With this funding, we plan to accelerate commercial growth, strengthen the platform and expand into new sectors, including motorsport, festivals, trade fairs, concerts and community events, said Logan Para, CEO and co-founder of Vivilo. The new funding will be used to support marketing and brand awareness initiatives, further platform development and team expansion. Part of the investment will also be directed toward advancing Vivilo's proprietary recognition technology for motorsport applications, including the identification of motorcycles, cars, helmets and vehicle models. The funding comes as Vivilo continues a period of growth. The company said it is already profitable and aims to strengthen its position in the European market for personalised event content. It is also exploring international expansion opportunities, with longer-term plans to establish a presence in the US.

Molfar Defence Technologies, a Polish-Ukrainian defence tech company developing tactical radar systems for the detection of small unmanned aerial systems (UAVs), today announced the close of the first tranche of its €2 million funding round. Front Ventures, a Swedish investment company, has committed €1.5 million as the lead and first institutional investor. Molfar was founded in 2026 to develop tactical radar systems for early detection, localisation, and tracking of small, low-flying UAVs in complex operational conditions.   The company was created to fill a gap in modern air defence architecture, bringing reliable drone detection to the tactical level where it is needed most.  At the core of Molfar's technology is a proprietary multidimensional structural target representation combined with advanced signal processing algorithms. The system analyses the physical signature of aerial targets, enabling reliable discrimination of drones from other objects in the detection zone.   Built-in filters ensure stable performance across all weather conditions and complex electromagnetic environments. The architecture incorporates proprietary waveform and operating mode features specifically designed to reduce the radar's probability of detection and localisation by an adversary, making it effective not only as a sensor but as a resilient node within broader air defence networks. Molfar's systems are available in modular architecture in 90° sector and full 360° configurations, and are designed to function both as standalone radar platforms and as complementary sensors within existing air defence architectures. The company holds several patent applications covering its core radar detection technologies. Molfar was founded by a team with international management experience and deep technical credentials in defence and aerospace sensing. Prior to founding Molfar, team members contributed to demanding sensing programmes, including quantum gyroscopes and airborne lidar systems. The company works in close cooperation with the Ukrainian Armed Forces and one of Poland's major defence and dual-use equipment suppliers, giving the team direct access to operational feedback and an accelerated path toward testing, validation, and deployment in live environments. According to Maks Dzherikhov, co-founder and CSO at Molfar Defence Technologies: “Molfar was created to give defence units earlier visibility against micro drones and small UAVs. We are building tactical radar systems that can be deployed close to the units that need them and scaled across real defence environments."  Jonas Malmgren, CEO, Front Ventures shared:  "We are very happy to join Molfar as the first investor and contribute to the development of a new type of radar system focused on countering the expanding drone threat. Improving visibility and detection of smaller drones will be a very important addition to the new multilayer air defence system that has been created in recent years in Ukraine.  We see very strong potential in the Molfar team and their radar expertise, and we look forward to assisting them with establishing production and moving to larger-scale deployments."  The funding will be used to expand Molfar's engineering team across radar development, signal processing, and systems integration and advance from prototype to field-validated systems cleared for operational deployment. The company is opening an office in Ukraine to strengthen operational proximity to its primary deployment environment and accelerate cooperation with armed forces already engaged in testing and validation. Field trials are planned in Ukraine and NATO countries. Lead image: Maks Dzherikhov, Co-founder and CSO. Photo: uncredited.

INXM, a Berlin-based startup developing AI-powered process automation technology for enterprise and industrial operations, has raised €5.7 million in a pre-seed funding round as it emerges from stealth. The round was led by Cherry Ventures and Redstone, with participation from Angel Invest, Linden Capital and other business angels. Many organisations continue to face challenges when deploying AI within operational workflows. While AI systems can generate useful outputs, they often lack the consistency, auditability and reliability required for business-critical processes, particularly in environments that depend on complex workflows, legacy software and strict compliance requirements. INXM was founded by Alex Oelling, Matthias Kainer, Jesper Bylund and Kamil Klüber to address the gap between AI-generated insights and reliable operational execution. The founding team previously worked on enterprise systems in sectors including aerospace and deep technology, where they experienced the operational challenges associated with deploying AI in complex environments. We founded INXM because we've seen first-hand how enterprise AI projects fail: years of implementation, armies of engineers, and AI systems that break more than they fix. Knowledge workers still copy-paste between ERP, PLM, Excel, email, and approval workflows to close a month. We have set out to build AI that finishes the work for you. We’re building the system that turns AI from a productivity tool into the operational backbone of European industry and its processes, said Alex Oelling, CEO of INXM. The company has developed what it describes as a Process Execution Engine based on a concept it calls "Compiled AI." Rather than relying on large language models to interpret and execute every task in real time, the platform uses AI to design and refine operational workflows, which are then executed through deterministic processes intended to deliver repeatable and auditable outcomes. The platform’s orchestration layer coordinates activities across enterprise systems, employees and workflows, enabling organisations to automate processes while maintaining greater predictability and oversight. At its core, Compiled AI means you use LLMs to generate deterministic, enterprise-ready code. You then run the code to achieve your outcome. This gives you the flexibility of natural language from AI models, but the testability of deterministic code, explained Matthias Kainer, CTO of INXM. According to the company, the platform is designed to integrate with existing enterprise infrastructure rather than replace it, helping organisations automate processes without large-scale system overhauls. INXM says its approach is particularly suited to industrial operations, where process complexity, limited engineering resources and compliance requirements often make AI adoption more challenging. Built and deployed in Europe, the platform is designed to support the data governance, compliance and deployment requirements of European enterprise customers. The funding will support INXM’s initial enterprise deployments and the continued development of its platform, which is designed to automate and execute complex business processes across industrial and enterprise environments.