One of the UK’s most hyped AI startups today said it has added Nvidia, BlackRock and film stars Jamie Foxx and Eva Longoria to its investment roster, as it also announced it has completed its second employee secondary share sale in less than a year. UK-headquartered ElevenLabs, founded by two Polish entrepreneurs, made a name for itself by leveraging AI to convert text into speech which sounds like it’s being read by human voices. The startup, which is backed by Sequoia and Andreessen Horowitz, said today it had completed the third close of its Series D funding round.  The startup announced its $500m Series D in February this year, valuing it at $11bn. It said it has now raised more than $550m in the round. New institutional investors include BlackRock, Wellington, D.E. Shaw and Schroders, along with enterprises like the VC arm of Nvidia, NVentures, which has previously been reported, and Santander, ElevenLabs said. Foxx, Longoria and Squid Game creator Hwang Dong-hyuk are among a group of more than 30 actors, musicians, athletes, and entertainment executives investing in ElevenLabs for the first time, joining existing investors like Matthew McConaughey, it said. ElevenLabs also said it had surpassed $500m in ARR (annual recurring revenue) in the first quarter of 2026, a big jump from its 2025 year-end ARR of $350m. It said: "This growth is driven by enterprises deploying voice agents across their businesses, from customer support and sales, to hiring and marketing operations.” It also announced that it completed a $100m employee share sale, its second in less than a year, following its $100m employee share sale in September last year. The startup has evolved its proposition to areas such as dubbing and sound effects. It sells products to help businesses deploy voice and chat agents, with its clients including Meta, Salesforce, and Revolut.

London-founded Corvera, an agentic supply chain management platform backed by Y Combinator, today announces it has raised $4.2 million (£3 million) in Seed funding to accelerate its expansion and automate end-to-end operational workflows for consumer packaged goods (CPG) brands. The round was led by 6 Degrees Capital, with participation from over 20 venture capital and angel investors, including 20VC, Rebel Fund, Duke Capital Partners, and Multimodal Ventures. The raise follows Corvera’s participation in Y Combinator’s Winter 2026 cohort, where it also received backing from alumni founders. After witnessing agentic developments across other industries, Corvera was founded to empower CPG brands whose workflows remain manual, fragmented, and inefficient. The platform solves these issues by sitting on top of existing solutions and ERP systems, giving AI agents the autonomy to execute tasks that would otherwise be performed by humans.  This means orders get recorded, sent to fulfilment, and invoiced, all automatically, from inbox to delivery confirmation. The result is faster decision-making, improved margins, and reduced operational overhead. By offloading responsibilities to agents, brands can spend more time building their business while retaining live visibility into their financial performance, cash flow, and logistics, and benefiting from it. The company is based in San Francisco and led by CEO Chris Kong, who previously built the tempeh brand Better Nature, scaling distribution to 5,000 stores before stepping back in 2025. He is joined by CTO Dirk Breeuwer, former head of data and AI at Google; CPO Matthew Collins, former Head of Product at Rosemark (successor to Rosetta, acquired by Publicis for $575 million); and Founding Engineer Berk Güngör, an AI and machine learning specialist. “Everyday CPG brands spend countless hours on back-office workflows that could otherwise be handled autonomously and flawlessly by AI agents. We’re here to make this a reality, enabling brands to invest more time into what truly makes them special and valuable,” said Chris Kong, CEO and co-founder of Corvera.  “Our objective isn't to replace existing tools or force our customers to 'lift-and-shift' systems. Instead, we act as the bridge between various systems and automate the manual work required to operate them. By reducing the reliance on human middleware, we enable more resilient, proactive supply chains with fewer errors and better service levels.” According to Christina Franzeskides, Principal at 6 Degrees Capital, the Corvera team brings rare firsthand experience building and scaling CPG brands. “From day one, their clarity of thought and bias toward execution stood out. In today’s fast-moving AI landscape, speed of execution is the ultimate differentiator — and we believe Corvera has the team and product to lead this category.”   "We're excited to back Corvera and truly believe they will change the game for CPG Brands, allowing them to unlock more profit and maximise ease of doing business, ” shared Jared Heyman, Managing Director, Rebel Fund. The funding will be used to scale the startup’s platform, hire additional staff, and build the customer base. 

Monzo, the UK digital bank, is to launch in Spain, ramping up its European expansion plans, following its exit from the US market. Monzo has set up offices in Barcelona and Madrid, with over 50 employees, and plans to grow the team over the next year, it said. It has also appointed Francisco Sierra, a former Western Union and N26 banking executive, as country manager for Spain, who will report to European boss Michael Carney.   The neobank was given the green light to expand across the EU after winning a European banking licence from the European Central Bank (ECB) and the Central Bank of Ireland (CBI), in December last year. The move into Spain marks Monzo’s second EU market, following its launch in Ireland, which is Monzo’s EU headquarters, where it launched in April, with “thousands of customers on its waitlist”, it said. Monzo, which has over 15m customers, already has a UK banking licence. The challenger bank has been vocal about its EU expansion plans. On products it will offer in Spain, Monzo said it would “start by listening to customers to better understand how to solve their pain points and create a localised offering”. It said product launches would be subject to regulatory approval. Monzo’s European licence means it can hold customer deposits, opening the door to income streams such as loans and mortgages. In Spain, Monzo, which exited the US market earlier this year, will go up against Santander-owned Openbank, Revolut and N26 as digital bank rivals. Carney said: “At Monzo we are passionate about making money work for everyone and the next step for us is bringing that to the Spanish market. After a hugely successful launch in Ireland, Spain is the latest milestone in our European expansion. People tell us they genuinely love Monzo and we can’t wait for other markets across Europe to experience that." Sierra said: “I’m delighted to be joining Monzo at such an exciting time as we bring a new way of banking to Spain. I look forward to listening and working closely with future customers to really understand how we can best serve the Spanish market and solve their everyday banking pain points."

Getaround Europe and GoMore have merged their European operations, forming the largest peer-to-peer carsharing network at scale across Europe.  The transaction follows Getaround Inc.'s decision to sell its European operations, thereby consolidating European carsharing under a strong, locally governed group.  This merger brings together two highly complementary players. Getaround Europe, based in Paris, is the market leader in France and firmly established across Western Europe, including Germany, Belgium, Spain, Norway and Austria, building on the legacy of Drivy and Nabobil, both acquired in 2019.  GoMore, headquartered in Copenhagen, is the front-runner in the Nordics — Denmark, Sweden, Finland and Estonia, and operates in Spain (under the Amovens brand), as well as in Switzerland and Austria, including key Alpine markets.  Together, the combined entity now operates across 11 countries, forming a unique carsharing network. By combining their geographic strengths, technology platforms and operational expertise, the new group is uniquely positioned to scale across borders and enable drivers and car owners to share vehicles seamlessly across Europe. The combined entity will serve more than 5 million users across more than 11 European countries.  Both companies show strong profitability and have a history of parallel development, shared values, and a common belief that cars are meant to be shared.  Getaround brings deep experience in connected car technology and large-fleet and business solutions. GoMore brings strong capabilities in long-term rentals and leasing services. Together, the merged group can address the full spectrum of mobility use cases, from private individuals to businesses.  A shared vision for shared mobility  Beyond operational and geographic synergies, this partnership reflects a shared ambition to rethink the role of car ownership in Europe.  By promoting shared usage over private ownership, Getaround Europe and GoMore address structural challenges: the overproduction and underutilisation of vehicles and the rising cost of car ownership, while contributing to a more accessible and sustainable mobility ecosystem.  Dense cities, evolving mobility habits and supportive regulatory environments are strong foundations for carsharing to thrive. With this merger, the companies aim to accelerate the transition towards more sustainable car use and to demonstrate that Europe can lead the next chapter of shared mobility.  The combined entity will be led by a joint executive team drawn from both organisations:  Matias Møl Dalsgaard, Founder of GoMore, will serve as Group CEO. Marie Reboul will lead Getaround’s European markets as General Manager, including France, which represents close to half of the combined entity’s revenue.  Thomas Christensen will assume the role of Group COO, overseeing operational integration and performance across markets.  For users and partners, there will be no immediate changes to services or applications. The immediate focus will be on building a stronger, unified platform and delivering increased value across Europe.  According to Matias Møl Dalsgaard, Founder of GoMore, the two companies have worked towards the same vision for years, following and learning from each other.  “Now we are joining forces to build an undisputed European mobility champion to take car sharing to the next level across Europe.”  Marie Reboul, CEO of Getaround Europe, shared:   “Together, we are better positioned to drive carsharing adoption at scale, serve our users, and the long-term vision we have each been building for shared mobility.”

Warsaw-based startup Elastics has raised $2 million in an oversubscribed pre-seed funding round to develop its AI-powered infrastructure for quantitative trading. The round was led by Frst, with participation from angel investors across the AI and crypto sectors, including operators and founders from leading technology companies. Founded by Szymon Pawica, a former Goldman Sachs professional, and Mateusz Brodowicz, a mathematician with experience in quantitative modelling, Elastics aims to make advanced trading tools more accessible to individual investors. Its system automates research, execution, and portfolio management, bringing capabilities typically associated with institutional environments to a broader user base. The company is building what it describes as an AI-native operating system for prediction markets, a segment of finance that is gaining increasing attention. Its technology enables users to interact with markets through natural language, allowing strategies to be defined conversationally and executed automatically. The product is currently in private beta, with early access available to selected users. Elastics is built around the idea that the future of trading will be conversational, with large language models acting as the primary interface between users and markets. Its “Trade with Words” feature allows users to describe positions in plain language, removing the need for traditional order forms or manual inputs. Interest in prediction markets has grown alongside rising valuations of platforms such as Polymarket and Kalshi, reinforcing their emergence as a distinct asset class. However, tooling for individual traders remains limited, which Elastics aims to address. Pawica noted that as AI-driven automation becomes more widespread in financial markets, manual trading is becoming increasingly challenging. He added that the company’s goal is to ensure access to automation is widely available rather than a limiting factor. The newly raised capital will be used primarily to expand the team, with a focus on hiring AI and quantitative talent, and to further develop the product. Over time, Elastics plans to extend its offering beyond prediction markets and continue building infrastructure for automated, AI-driven trading.

Legal technology startup Moritz has raised $9 million in an oversubscribed funding round following participation in Y Combinator. The round was backed by investors including 20VC, Urban Innovation Fund, and Inception, alongside a group of 20 unicorn founders. Founded by Pamir Ehsas and Stefan Mandaric, the company aims to address inefficiencies in legal services. Moritz combines artificial intelligence with a network of experienced lawyers to deliver commercial legal services more efficiently. Its platform allows clients to submit legal requests, after which automated workflows handle a significant portion of the work, with qualified lawyers reviewing and finalising outputs. The model is designed to reduce turnaround times and offer predictable pricing compared to traditional hourly billing. Our AI handles the majority of the work, while lawyers review and finalise it. Customers receive full legal accountability, fast turnaround, and transparent pricing, said Ehsas. He added that the company’s long-term goal is to make high-quality legal services widely accessible within minutes, describing the current stage as only the beginning of a broader strategy. Since launch, Moritz reports that it has supported more than 100 companies in closing agreements representing over $2 billion in aggregate contract value across Europe, the United States, and Australia. The company plans to use the funding to further develop its platform, expand its network of legal professionals, and scale operations across key markets. Over time, it aims to extend its services beyond commercial law to cover a wider range of legal use cases.

Quantum Machines (QM), a provider of hybrid quantum-classical control solutions, today announced the acquisition of Dutch company QHarbor and the opening of a new office in Delft, the Netherlands.  The move establishes a local base in one of Europe’s leading quantum ecosystems and supports the continued expansion of QM’s software platform. Quantum Machines develops the hardware and software systems that power QM’s Orchestration Platform, a comprehensive solution for real-time control of quantum processors. The platform is designed to lead the industry’s shift toward hybrid quantum-classical computing across all major qubit modalities, including superconducting, neutral atom, trapped ion, and spin-based platforms. The addition of the QHarbor team reflects Quantum Machines’ focus on building a strong presence in Delft by attracting top local talent and by working closely with the broader quantum community.  “As an American company, this step reflects our deep investment in Europe’s quantum future and our commitment to being an integral part of this thriving ecosystem,” said Itamar Sivan, CEO and co-founder of QM. “By establishing a home in Delft, we are investing our resources and expertise in one of Europe’s most significant quantum hubs.”  The QHarbor team will form the foundation of QM’s Delft office, contributing to the company’s work on software-defined experimentation, data management, and system-level integration for quantum computing. Joining Quantum Machines allows us to take our work further and integrate it into a broader platform used across the quantum ecosystem,” said Alberto Tosato, one of QHarbor’s co-founders, now joining QM.  “We look forward to contributing to the development of technologies that support the scaling of quantum systems.” The Delft office, located in Hubbz Delft, will support research and development activities and serve as a base for collaboration with local partners, including institutions within the House of Quantum and the wider Dutch quantum ecosystem. This expansion builds on Quantum Machines’ growing presence in Europe, with existing operations in Denmark, Germany and France. Together with Delft, these locations place QM within several of Europe’s key quantum hubs and enable closer collaboration across the region. Lead image: Freepik.

Espoo-based deeptech startup Reduciner has raised €3.6 million in a funding round to commercialise its carbon conversion technology. The round includes equity investment from Voima Ventures, Lifeline Ventures, and the Mikko Kodisoja Foundation. In addition, VTT Technical Research Centre of Finland has contributed the underlying technology and intellectual property as an in-kind investment. Reduciner is commercialising a high-temperature thermochemical process that converts captured carbon dioxide into carbon monoxide using renewable electricity and biogenic carbon. The resulting carbon monoxide can be used directly in existing industrial systems, enabling companies to reduce emissions without requiring major infrastructure changes. Most technologies that seek to replace fossil fuels with more sustainable ones require rebuilding of infrastructure. Reduciner’s technology converts CO₂ into CO, which is compatible with existing machinery, allowing the solution to be deployed faster and more cost-efficiently, said Johanna Grönroos, co-founder and CEO of Reduciner. She added that the company differentiates itself from other deeptech firms developing sustainable fuel solutions by achieving environmental benefits while remaining economically viable from the outset. The company’s process also produces activated carbon as a co-product, contributing to overall economic viability. This material is widely used in water and gas purification and is expected to see increased demand due to tightening environmental regulations. The technology is particularly suited for emissions-intensive sectors such as lime, cement, steel, and pulp, where it can enable circular use of carbon by converting captured emissions into fuel for reuse within the same process. Eemeli Tsupari, co-founder and CTO of Reduciner, noted that global emissions from the lime and cement industries exceed those from the aviation and maritime sectors combined. With this technology, it is possible to replace fossil fuels site by site, depending on the availability of green electricity, while also improving cost competitiveness. The funding will support further development and commercialisation of the technology, including pilot and demonstration projects. Initial industrial deployments are planned in Finland, with broader international expansion targeted in the coming years.

German deeptech company eleQtron has raised €57 million in a Series A funding round to accelerate the industrial scaling of its trapped-ion quantum computing technology. The investment was led by Schwarz Digits, the digital and IT arm of the Schwarz Group, with participation from the European Innovation Council Fund. Additional investors include existing backer Earlybird, alongside new participants such as Ankaa Ventures, Precitec, NRW.BANK, and IFB Hamburg. The funding package also includes grants from the European Union and the state of North Rhine-Westphalia. Founded in 2020 as a spin-off from the University of Siegen, eleQtron develops trapped-ion quantum processors based on its proprietary MAGIC (Magnetic Gradient Induced Coupling) technology, enabling precise and scalable control of qubits using microwave methods. The company combines research-driven innovation with a focus on industrial scaling and commercialisation. As quantum computing becomes an increasingly important component of digital infrastructure, this investment is expected to support eleQtron’s transition from laboratory development to industrial deployment and strengthen its market position. Quantum computing is transitioning from a research-driven technology to an industrially usable infrastructure. With this funding, we are accelerating that shift and developing systems designed to address real-world industrial challenges, said Jan HenrikLeisse, CEO and co-founder of eleQtron. With more than 100 employees and partnerships with leading European research and computing centres, the company is positioning itself as a provider of scalable quantum computing systems for industrial use. The newly raised capital will be used to build scalable production capacity, expand cloud-based access to its systems, and further advance its hardware platform.

Sweden-based mobility app Detecht has secured €395,000 (SEK 4.5 million) in funding to support its international expansion and further development of its technology. The investment includes backing from Chalmers Ventures, alongside existing shareholders. Detecht has developed a solution that combines crash detection, navigation, and social features for motorcycle riders. Using a smartphone’s built-in sensors, the app can detect accidents such as falls or collisions, while also offering GPS-based route planning. Unlike traditional navigation tools, it allows users to prioritise scenic and curvy routes, enhancing the riding experience. It also functions as a social network where riders can share routes, statistics, and experiences. The company’s core crash detection technology is based on research from Chalmers University of Technology, and the founding team emerged from the Chalmers School of Entrepreneurship. This combination of academic research and entrepreneurship has contributed to the product’s technical maturity and scalability. Niklas Ohlsson, CEO and co-founder of Detecht, said that continued support from existing investors and Chalmers Ventures reflects confidence in the company’s growth trajectory. Today, we are one of the world's largest motorcycle apps where safety, navigation, and community are integrated into a single platform. Now we are focusing on honoring that trust and scaling operations further." With more than 25,000 subscribers globally and an established presence in the United States, the company has demonstrated growing demand for digital services focused on road safety. The funding will be used to accelerate expansion across North America and Europe, while continuing to invest in product development.

Quantum Machines (QM), a provider of hybrid quantum-classical control solutions, today announced the acquisition of Dutch company QHarbor and the opening of a new office in Delft, the Netherlands.  The move establishes a local base in one of Europe’s leading quantum ecosystems and supports the continued expansion of QM’s software platform. Quantum Machines develops the hardware and software systems that power QM’s Orchestration Platform, a comprehensive solution for real-time control of quantum processors. The platform is designed to lead the industry’s shift toward hybrid quantum-classical computing across all major qubit modalities, including superconducting, neutral atom, trapped ion, and spin-based platforms. The addition of the QHarbor team reflects Quantum Machines’ focus on building a strong presence in Delft by attracting top local talent and by working closely with the broader quantum community.  “As an American company, this step reflects our deep investment in Europe’s quantum future and our commitment to being an integral part of this thriving ecosystem,” said Itamar Sivan, CEO and co-founder of QM. “By establishing a home in Delft, we are investing our resources and expertise in one of Europe’s most significant quantum hubs.”  The QHarbor team will form the foundation of QM’s Delft office, contributing to the company’s work on software-defined experimentation, data management, and system-level integration for quantum computing. Joining Quantum Machines allows us to take our work further and integrate it into a broader platform used across the quantum ecosystem,” said Alberto Tosato, one of QHarbor’s co-founders, now joining QM.  “We look forward to contributing to the development of technologies that support the scaling of quantum systems.” The Delft office, located in Hubbz Delft, will support research and development activities and serve as a base for collaboration with local partners, including institutions within the House of Quantum and the wider Dutch quantum ecosystem. This expansion builds on Quantum Machines’ growing presence in Europe, with existing operations in Denmark, Germany and France. Together with Delft, these locations place QM within several of Europe’s key quantum hubs and enable closer collaboration across the region. Lead image: Freepik.

Glasgow-based life sciences company EnteroBiotix has secured £19 million in funding to support the advancement of its microbiome-based therapies, including a large-scale clinical trial targeting irritable bowel syndrome (IBS). The round was led by Thairm Bio and the Scottish National Investment Bank, with participation from existing investors. The company has raised more than £65 million to date. Founded in 2017 by Dr James McIlroy, EnteroBiotix develops microbiome-based therapeutics designed to address underlying disease biology. The newly raised capital will primarily support a Phase 2b clinical trial of EBX-102-02, the company’s lead candidate for IBS. The study, involving approximately 300 patients, is already underway, with topline efficacy data expected in the second half of 2027. IBS affects a significant proportion of the global population and represents a substantial unmet medical need. EnteroBiotix’s approach differs from conventional probiotics by aiming to restore the microbiome more comprehensively, with the goal of improving patient outcomes at scale. Our clinical data indicates that EBX-102-02 has the potential to deliver meaningful outcomes for patients with IBS. Our goal is to address the underlying causes of disease and improve standards of care in gastrointestinal health, said Dr James McIlroy, founder of EnteroBiotix. The company has established a number of strategic partnerships and research collaborations, including with Imperial College London, as it continues to advance its development programmes and expand its presence in the global biopharmaceutical sector. The funding will also be used to advance EnteroBiotix’s broader clinical pipeline, scale manufacturing capabilities, and support ongoing research and development efforts.

France-based Nabu has raised €3 million in funding to accelerate its expansion across Europe and strengthen its position in digital customs clearance. The round includes participation from Getlink, alongside existing investors such as Maersk Growth, which continues to support the company following its initial pre-seed round in 2022. Founded in 2022 and operating between Paris and Strasbourg, Nabu provides a platform that automates customs formalities for freight forwarders, customs brokers, and international trade companies. Its technology converts client documents and instructions into compliant declarations and automated workflows, helping streamline cross-border operations. As international trade becomes increasingly complex, driven by shifting geopolitical dynamics and evolving regulations, the need for efficient customs processes is growing. Nabu addresses this challenge with an AI-based system that reduces manual workload while improving speed and accuracy. According to the company, declarations can be handled significantly faster and with fewer errors, allowing teams to focus on higher-value tasks. The platform is used by a wide range of organisations, from independent customs brokers to large international transport groups, reflecting its ability to support diverse operational needs. A growing share of activity already takes place outside France, underlining early traction in international markets. Every shipment that crosses a border generates considerable administrative complexity. Our ambition is to absorb it and make it manageable, anywhere in the world, in a harmonised, reliable, and transparent way, said Arnaud Doly, CEO and founder of Nabu. The newly raised capital will be used to expand Nabu’s presence in existing European markets and support entry into new ones. The company also plans to further develop its product, enhancing automation, performance, and user experience, while gradually extending the platform beyond customs declarations to cover additional cross-border formalities.

Italian regtech company A-Cube has secured €4 million in funding to expand its platform for automated digital tax compliance across international markets. The round was led by P101 SGR, with participation from Sella DirectVentures. Founded in 2018, A-Cube develops an API-first platform that enables end-to-end management of tax and document flows, connecting business systems, financial institutions, and public administrations within a single interoperable architecture. Its technology supports real-time electronic invoicing, e-reporting, and compliance processes across multiple regulatory environments, helping organisations manage increasingly complex international requirements. The broader European regulatory landscape is increasingly shaped by harmonisation efforts and the rollout of continuous transaction control models, driving demand for digital tax infrastructure. Within this context, A-Cube aims to evolve from a compliance solution into a broader technology layer for integrated digital trade, enabling closer alignment of tax, financial, and operational data. Antonino Caccamo, co-founder and CTO of A-Cube, said that global taxation is undergoing a significant transformation, driven by the convergence of regulatory changes and technological innovation toward more digital and integrated reporting systems. He added that Italy has been at the forefront of this shift, particularly with recent electronic payment mandates that came into effect in April. This trend is now sweeping across Europe, with the VIDA (VAT in the Digital Age) directive set for 2028, real-time tax reporting will gradually become the standard. In this scenario, we want to provide the infrastructure capable of supporting companies through increasingly complex multi-country environments, turning compliance into an integrated and strategic process. The newly raised capital will be used to strengthen A-Cube’s presence in key European markets and accelerate the development of its platform, including the integration of artificial intelligence capabilities. The company also plans to expand its product offering into adjacent areas of digital tax reporting, addressing evolving regulatory frameworks and the needs of multinational companies operating across jurisdictions.

Munich-based startup Mobility Signage has raised €1.8 million in a pre-seed funding round to advance its digital infrastructure platform for public transport. The round was led by High-Tech Gründerfonds, with participation from 2bX. Founded in 2023, Mobility Signage addresses a growing challenge faced by transport operators: legacy, fragmented IT systems that struggle to meet rising demand for real-time, reliable passenger information. Rather than replacing existing infrastructure, the company provides a central data architecture that integrates with current systems. Its platform acts as a unified data and integration layer, structuring data flows, standardising interfaces, and enabling consistent information delivery across multiple channels, including departure boards, mobile applications, and public address systems. The system is modular, scalable, and hardware-independent, allowing operators to modernise incrementally without overhauling their IT landscape. Transport operators don’t need additional standalone tools - they need a unifying system. Our approach replaces fragmented solutions with an integrated and scalable platform, said co-founder Stefan Rademacher.  Co-founder Dominik Nouri added that the goal is to create a reliable foundation for real-time information while enabling operators to continue using their existing systems. Mobility Signage’s platform is already deployed across a range of operators, from regional networks to large transit authorities, and the company has established partnerships with hardware manufacturers, reflecting broader industry adoption of its open and integrable architecture. The platform’s initial modules automate key operational processes such as construction site notifications and real-time disruption management, contributing to reduced complexity and improved passenger communication. The company plans to use the capital to expand its team and accelerate development of its Data Hub and application layer.

Frankfurt-based smart city startup ENVIOTECH has secured €1 million in pre-seed funding to advance its intelligent retrofit solutions for public street lighting. The round was led by Jürgen Fitschen, with participation from Joachim Drees. The company was founded by Adrian Rhaese alongside Linh Pham following a personal experience that highlighted the risks associated with outdated public infrastructure. After a close friend was injured in a cycling accident linked to streetlights being switched off due to rising electricity costs, Rhaese began questioning why critical systems such as public lighting are often among the first to be compromised under financial pressure. What began as a personal concern evolved into ENVIOTECH, which develops retrofit kits that enable municipalities to upgrade existing street lighting without requiring full replacement. We started ENVIOTECH after seeing firsthand the consequences of insufficiently managed infrastructure. Street lighting is fundamental to safety, quality of life, and public trust, and we believe it can be managed more intelligently, said Rhaese. The company’s technology can be installed in under 15 minutes and allows cities to monitor, dim, and manage lighting more efficiently. According to the company, this approach can reduce energy consumption by up to 80 per cent while improving safety and lowering operational costs. ENVIOTECH has also received early recognition through its acceptance into the EWOR Fellowship, a competitive program supporting early-stage founders. With the newly raised capital, ENVIOTECH plans to expand pilot projects with municipalities and infrastructure partners, further develop its technology, and prepare for its next phase of growth. Its broader objective is to improve the efficiency and manageability of urban infrastructure, beginning with street lighting.

Last week, we tracked more than 65 tech funding deals worth over €2.2 billion, and over 5 exits, M&A transactions, rumours, and related news stories across Europe.Click to read the rest of the news.

European defence technology company Intelic today announced the launch of Intelic BASE, a new procurement hub designed to strengthen European defence sovereignty by helping Ministries of Defence across Europe identify and deploy European unmanned systems faster, significantly shortening procurement timelines for mission-ready drones. At launch, the platform already connects drone and unmanned systems manufacturers from ten European countries - France, Germany, the United Kingdom, Ukraine, the Netherlands, Portugal, Latvia, Luxembourg, Lithuania and Czechia - providing governments with direct visibility into interoperable capabilities available across the European defence industrial base.  The initiative is already being developed with input from several European Ministries of Defence.​ ​ The platform brings together a strong group of named European partners, including Acecore Technologies (Netherlands), Airvolute (Slovakia), Avy (Netherlands), Beyond Vision (Portugal), DeltaQuad (Netherlands), Height Technologies (Netherlands), Highcat (Germany) and TAF Industries (Ukraine). Together, these partners represent a broad geographic spread across Europe and Ukraine, combining expertise across ISR, strike, and counter-UAV systems. In addition to these named partners, the consortium includes several Ukrainian partners who cannot be identified by name. These partners collectively produce more than 100,000 UAVs per month, spanning ISR, strike, and counter-UAV systems, and generate over $1.5 billion in sales. Their inclusion underscores the depth of operational experience and industrial capacity that the Ukrainian defence ecosystem brings to the consortium. Europe’s first defence procurement platform aims to fast-track drone deployment The platform is the first of its kind in Europe, inspired by procurement models emerging in Ukraine that allow defence ministries to identify and compare drone systems in one place, significantly shortening the time between operational need and deployment. As European governments increase defence spending in response to Russia’s war in Ukraine, the ability to rapidly identify interoperable capabilities from within Europe’s own industrial base has become a strategic priority. Yet procurement across the continent remains fragmented, slowing deployment and limiting visibility into available systems. “Europe already has the industrial capacity and battlefield-proven drone technologies it needs,” said Maurits Korthals Altes, CEO of Intelic. “What has been missing is a shared operational layer that makes those capabilities visible, interoperable and deployable across borders. Strengthening that connection is essential for a stronger Europe.” Interoperability as a foundation for European capability readiness Intelic’s flagship C2 software, Nexus, is a platform-agnostic layer for unmanned systems control and has been deployed in Ukraine since 2025.  A central feature of the procurement hub is integration with Nexus, which has been deployed in operational conditions in Ukraine since 2025, allowing coalition drone systems to function cohesively across manufacturers and mission types. By ensuring interoperability before procurement decisions are made, the platform reduces integration risk and shortens deployment timelines for Ministries of Defence. This approach supports a broader shift across Europe toward coalition deployment and stronger coordination within the European defence industrial base. Unlike traditional procurement channels, which often require governments to evaluate vendors individually and resolve interoperability challenges afterwards, the platform enables Ministries of Defence to explore systems that are already prepared for coalition deployment. By improving direct connections between governments and European manufacturers - without intermediaries or reseller structures - the platform supports faster capability discovery and contributes to a more responsive European security architecture. Lead image: Maurits Korthals Altes, Jeroen Lappenschaar, and Marc Derksen.

This week, we tracked more than 65 tech funding deals worth over €2.2 billion and over 5 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 ??  Ineffable Intelligence launches with record-breaking $1.1B seed round ?? Ebury financing of over £550M ?? Robotics startup Sereact raises $110M ??‍?? Noteworthy acquisitions and mergers ? Nebius buys US AI inference startup Eigen AI in $643M deal ??  Rivage raises €50M and acquires Infoclip to build a major managed services and cybersecurity group ?? ECD International is acquiring a majority stake in Munich-based influencer marketing agency SC Media House ? Interesting moves from investors ? KOMPAS VC closes €160M Fund II for industrial tech startups ? EQT secures €3.1bn for European logistics fund ?  Earlybird closes €360M Fund VIII, doubling down on deeptech and long-term ownership ?️ In other (important) news ??  SPRIND launches €125M Next Frontier AI challenge to back new AI paradigms in Europe ?  UK to develop AI hardware plan ? Europe’s AI-native founders are building faster — and younger — than ever ??  Europe urged to become first “electro-continent” with 50% electrification target by 2040 ? Freepik rebrands as Magnific, unifying its AI creative stack as enterprise and “no-collar” growth accelerates ?? ManaMind secures $1.5M to develop autonomous testing for gaming ??  Always Friday raises €1.05M to automate corporate event planning with AI agents ?? Tapaya raises €1M pre-seed to power payments on any device ?? Qendra gets €162,000 to scale quantum computing systems ?? Atech raises pre-seed to unlock a new era of Physical AI builders with the "Lovable for hardware"

European AI infrastructure company Nebius has acquired a US startup which specialises in improving the performance of leading open-source AI models, it said today.   Amsterdam-headquartered Nebius has acquired San Francisco-based Eigen AI for approximately $643m in cash and stock.   Nebius, which is sometimes referred to as a neocloud, builds and operates data centres, packing them with GPUs, then offers access to these data centres to AI and enterprise companies needing compute power, as well as offering them specialised software to run AI applications.   Eigen AI’s tech helps improve the performance of leading open source AI models from the likes of Meta, OpenAI and Alibaba in inference, the process whereby a trained model is applied to real-world data to generate answers through reasoning.   Inference is the fastest growing part of AI and is forecast to account for around two-thirds of compute demands this year. Eigen AI's tech helps AI model performance by improving the yields from the data, also known as tokens, that AI models process, meaning the overall cost for enterprise customers will come down, Nebius said   Nebius also highlighted that by acquiring the 20-strong Eigen AI team, it was acquiring “elite inference research talent”, saying that Eigen AI’s founding team would set up an engineering and research presence in the San Francisco Bay Area.   Eigen AI’s co-founders Ryan Hanrui Wang and Wei-Chen Wang are alumni of MIT’s HAN Lab, led by Professor Song Han, a leading researcher in AI computing and model efficiency.   Nebius said Eigen AI tech will help alleviate bottlenecks in running AI inference, due to issues in memory, routing and compute.   Nebius said: “By integrating Eigen AI’s optimisation layer directly into Nebius Token Factory, Nebius removes this bottleneck across the lifecycle.”   It said its tech is designed to deliver “higher throughput and lower cost per inference without additional engineering overheads". It added: "As a result, Nebius Token Factory customers will benefit from faster time to production, significantly better unit economics, and the ability to adopt new models more quickly.”