Tech.eu https://tech.eu en Fri, 21 Mar 2025 15:38:45 +0000 hourly 1 <![CDATA[Factorial snaps up $120M, call for EU sovereign infrastructure fund, and startup-friendly Latvia]]> https://tech.eu/2025/03/21/factorial-snaps-up-120m-tech-leaders-call-for-eu-sovereign-infrastructure-fund-and-startup-friendly-latvia/ https://tech.eu/2025/03/21/factorial-snaps-up-120m-tech-leaders-call-for-eu-sovereign-infrastructure-fund-and-startup-friendly-latvia/#comments This week we tracked more than 75 tech funding deals worth over €865 million, and over 10 exits, M&A transactions, rumours, and related news stories across Europe. In addition to this week's top financials, we've also indexed the most important/industry-related news items you need to know about.

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

🇪🇸Factorial snaps up $120M from General Catalyst to boost sales and marketing

🇬🇧Biotech Maxion Therapeutics secures $72M Series A

🇪🇸 Playtomic raises €65M to accelerate its expansion


🫱🏽‍🫲🏻 Noteworthy acquisitions and mergers

🇩🇪 Munich Re to buy insurtech firm Next Insurance for $2.6 billion

🇬🇧 OakNorth acquires US community bank CUB

🇳🇱 Klippa joins SER Group to drive next-gen intelligent document processing

🇩🇪The American company Centric Software is acquiring the product information management company Contentserv


🚀 Interesting moves from investors

☀️ Climatetech VC 2150 raises near €200M for Fund II

🌳 Elbow Beach launches new Climate Impact Fund with £63M

🇨🇿  Czech firm Soulmates Ventures expands investments in sustainability startups via €50M fund


🗞️ In other (important) news

⬆️ Guide: What’s Coming Up at the Tech.eu Summit London 2025?

🇪🇺 Tech leaders call for EU sovereign infrastructure fund in “crisis” moment

🇬🇧 UK government urges more Silicon Valley firms to set up shop in UK


📡 Recommended reads and listens

🇱🇻 Latvia: A startup-friendly tech ecosystem

🤖 The AI paradox: Overhyped in the short term, underinvested in the long term

😷 International Long COVID Day highlights need for diagnostics as PrecisionLife unlocks genetic breakthroughs

🇮🇹 Italy’s startup renaissance: closing in on Spain’s lead


🔭 European tech startups to watch 

🇳🇴 Catchwise raised €1.25M pre-seed for a more efficient and sustainable fishing industry

🇬🇧 Polaron wins £1M Manchester Prize to develop new materials

🇬🇧 Diogo Dalot joins Cristiano Ronaldo as an investor in Bioniq, contributing over €1M

🇳🇴 VISOID secures €700,000 for architecture software

🇩🇪 DevOps automation mogenius gets €500,000 boost, as it slashes error resolution time by up to 60%

🇷🇴 Assista AI raises €100,000 from Gluon Syndicate for AI agents

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https://tech.eu/2025/03/21/factorial-snaps-up-120m-tech-leaders-call-for-eu-sovereign-infrastructure-fund-and-startup-friendly-latvia/ Fri, 21 Mar 2025 15:38:45 +0000 https://tech.eu/2025/03/21/factorial-snaps-up-120m-tech-leaders-call-for-eu-sovereign-infrastructure-fund-and-startup-friendly-latvia/feed 0
<![CDATA[Five alternative European tech clusters that are leading the way]]> https://tech.eu/2025/03/21/five-european-tech-clusters-that-are-leading-the-way-for/ https://tech.eu/2025/03/21/five-european-tech-clusters-that-are-leading-the-way-for/#comments Across Ireland there are more than 3,000 so-called holy wells sites aligned with pagan and early Christian beliefs that these sites were thought to miraculous powers. While the spread of alternative tech clusters around Europe may not be blessed with the same divination and quantity, there is certainly something prodigious happening in many European towns and cities away from capital cities usually associated with technology.

According to the latest Europe deeptech report 2025 from the Dealroom, Lakestar, Walden Catalyst, and Hello Tomorrow that focus on companies that spin out from universities (which are integral in creating tech clusters), there is some surprising data. 

While traditional academia such as Oxford and Cambridge in the UK and the Sorbonne feature prominently, other lesser-known centers of educational excellence in places such as Delft, Dundee, Ghent and even Ireland's Galway have high levels of spinout companies that are likely to lead to significant tech clusters.

Here we look at five other cities across five countries that are focusing on areas such as robotics, space, fintech, automotive and AI to create unique clusters that may well determine the future prosperity of Europe itself.

Toulouse, France

Toulouse has established itself as a leading tech cluster, particularly in aerospace, artificial intelligence and biotechnology. Its reputation as Europe’s aerospace capital, along with strong research institutions and industry collaborations, makes it a thriving hub for innovation and technology.

The aerospace industry is the backbone of Toulouse’s tech ecosystem. It is home to Airbus, one of the world’s largest aircraft manufacturers, along with a vast network of suppliers, research centers and engineering firms.

The presence of major industry players fosters innovation in fields such as aeronautics, satellite technology, and space exploration. The Aerospace Valley cluster, which spans across the region, supports startups and research initiatives in aviation, drones, and AI-driven aerospace solutions.

Toulouse is also a leader in artificial intelligence and big data, with institutions such as the Artificial and Natural Intelligence Toulouse Institute (ANITI) driving research and innovation. ANITI brings together universities, tech companies, and government support to advance AI applications in various industries, including autonomous systems, smart mobility, and healthcare.

Biotechnology and healthcare technology are also thriving in Toulouse, supported by research centers like Oncopole, which specializes in cancer research and medical innovation. The city’s combination of academic excellence and industry collaboration fosters breakthroughs in biotech, pharmaceuticals, and medical devices.

Public and private investments, along with a strong startup ecosystem, further boost Toulouse’s status as a tech hub. Business incubators, venture capital, and tech parks, such as the Toulouse Innovation Hub, provide essential resources for startups and entrepreneurs.

With its rich talent pool, world-class research institutions, and a strong culture of collaboration, Toulouse continues to be at the forefront of European technological innovation, particularly in aerospace, AI, and biotechnology.

Gothenburg, Sweden

Gothenburg’s vigorous tech and investment scene is underpinned by the city’s scientific and manufacturing heritage, as the headquarters of Volvo and global R&D for AstraZeneca.

The biggest port city in Scandinavia has over the last few decades transformed from a traditional trading hub into one of the most exciting innovation ecosystems in Europe, excelling in areas such as automotive and mobility, life sciences, hardware and deep tech. Gothenburg receives over a third of all of Sweden’s R&D investments and its startup scene is flourishing, attracting more than £300m of venture capital investment and a record year for exits in 2024.

It has a strong industrial base, world-class universities and a vibrant startup ecosystem. The city has positioned itself as a hub for innovation, particularly in mobility, AI, and sustainable technology.

One of Gothenburg’s key advantages is its deep-rooted expertise in the automotive and manufacturing industries. Home to Volvo Cars, Volvo Group, and Geely’s innovation center, the city has naturally evolved into a leader in mobility technology, including electric vehicles (EVs), autonomous driving, and smart transportation solutions. 

Gothenburg’s universities, such as Chalmers University of Technology and the University of Gothenburg, play a crucial role in the city’s tech development. These institutions provide a steady pipeline of skilled graduates and researchers, collaborate closely with industry leaders, and facilitate cutting-edge R&D in fields like artificial intelligence, quantum computing and life sciences.

The city’s startup scene is also flourishing, with companies such as Einride (autonomous freight transport) and Northvolt (sustainable batteries) making global headlines. Government initiatives, incubators like Lindholmen Science Park, and venture capital support have helped tech startups thrive. Lindholmen, in particular, has become a focal point for digital innovation, attracting companies working on everything from cybersecurity to medtech.

Gothenburg’s focus on sustainability also sets it apart. The city is a testbed for green technology, smart city solutions and renewable energy initiatives, aligning with Sweden’s broader goals for a climate-neutral future.

With a strong mix of established tech giants, research-driven institutions, and agile startups, Gothenburg continues to grow as a leading European tech cluster, driving innovation in mobility, sustainability and AI.

Lausanne, Switzerland

Lausanne has emerged as a major tech cluster, driven by world-class research institutions, a strong startup ecosystem, and a focus on innovation in fields such as artificial intelligence, biotechnology, and fintech.

A key factor in Lausanne’s rise as a tech hub is the presence of the Swiss Federal Institute of Technology Lausanne (EPFL). EPFL is one of the world’s top engineering and technology universities, attracting global talent and fostering cutting-edge research in robotics, AI, quantum computing, and life sciences. The university also works closely with startups and multinational corporations, ensuring a steady flow of innovation from academia to industry.

Lausanne has a thriving startup scene, supported by incubators such as EPFL Innovation Park and Venturelab. These organizations provide funding, mentorship, and networking opportunities for entrepreneurs, helping to launch successful companies in deep tech, digital health, and financial technology. Notable startups and scale-ups, such as MindMaze (neurotechnology) and Nexthink (IT analytics), have emerged from this ecosystem, attracting significant investment.

The city is also a hub for biotech and life sciences, with institutions like the Lausanne University Hospital (CHUV) and the Ludwig Institute for Cancer Research driving advancements in personalized medicine and biomedical technology. The presence of multinational companies, including Merck and Nestlé’s research center, further strengthens Lausanne’s biotech and health tech sector.

Switzerland’s business-friendly environment, strong intellectual property laws, and access to venture capital make Lausanne an attractive destination for tech companies. Additionally, its strategic location near Geneva and its excellent quality of life appeal to skilled professionals from around the world.

With a combination of cutting-edge research, strong industry collaborations, and a dynamic startup ecosystem, Lausanne continues to be a leading European tech cluster, particularly in AI, biotech, and fintech.

Norwich, UK

The talent pool is increasingly impressive. The University of East Anglia (UEA) and Norwich University of the Arts (NUA) provide a stream of graduates in computer science, climate science, engineering, business and creative industries making it easy for local startups and established tech companies to recruit.

Norwich has an especially supportive tech community. The cluster organisation Tech East and multiple meetups provide networking opportunities and mentors for aspiring entrepreneurs and tech professionals. These groups foster collaboration, creating a fertile ground for innovation. Incubators such as Akcela provide hands on support. The investment landscape is strengthening (Anglia Capital Group is an active angel network). And every year SyncTheCity, a 54 hour startup weekend, attracts a large crowd and spawns new MVPs.

Specialisms include AgriTech, FinTech, InsurTech and CreaTech. A good example Norwich Research Park with internationally significant bio-focused research institutions (e.g. Earlham Institute and John Innes Centre), now generating AgriTech spinouts like Tropic and Traitseq. In FinTech the major presence of Aviva supports tech skills initiatives as providing an ideas and talent pool for large scaleups such as Epos Now and hot startups like Pikl.

The city offers a more affordable cost of living than London or Cambridge (both about 90 mins away), making it an attractive hub for new startups and established businesses looking to expand and this affordability extends to office space. The quality of life in Norwich is tangible - the city offers a balanced lifestyle, combining a thriving urban environment of independent shops and restaurants with easy access to the North Norfolk Coast, Norfolk Broads, and beautiful countryside. For tech founders it’s a powerful mixture.

Odense, Denmark

Odense, Denmark, has rapidly emerged as a leading tech cluster, especially in robotics, automation, and drone technology. This transformation is driven by strong collaborations between academia, industry, and government, making Odense an attractive hub for tech companies and startups.

A key factor in Odense’s rise as a tech cluster is the presence of the University of Southern Denmark (SDU), which fosters innovation through research and education in robotics, artificial intelligence, and software development. The SDU’s strong ties with industry players ensure a steady talent pipeline, equipping students with the skills needed to thrive in the tech sector.

Another major driver is Odense Robotics, one of Europe’s largest and most influential robotics clusters. It brings together over 130 companies and research institutions specializing in automation, industrial robotics, and drones. This ecosystem supports startups through funding, networking, and mentoring programs, creating an environment where cutting-edge technology can flourish.

The city has also benefited from significant public and private investments, including support from the Danish government and the EU. Odense’s Science Park, home to multiple tech startups and established firms, provides infrastructure and resources to accelerate growth.

Global companies, such as Universal Robots and Mobile Industrial Robots (MiR), originated in Odense and continue to attract international talent and investment. These success stories reinforce Odense’s reputation as a global leader in robotics and automation.

Additionally, the city’s quality of life, strategic location, and pro-business environment make it an appealing destination for tech professionals and entrepreneurs. With a strong foundation in research, investment, and collaboration, Odense is set to remain a key player in the global tech industry, particularly in robotics and automation.

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<![CDATA[Elbow Beach launches new Climate Impact Fund with £63M]]> https://tech.eu/2025/03/21/elbow-beach-backs-britains-entrepreneurs-with-launch-of-new-up-to-ps80m-climate-impact-fund/ https://tech.eu/2025/03/21/elbow-beach-backs-britains-entrepreneurs-with-launch-of-new-up-to-ps80m-climate-impact-fund/#comments Elbow Beach, one of the UK’s most active specialist climate impact seed investors, has achieved the first close of its second fund at £63M. £50M was supplied by the British Business Bank through its Enterprise Capital Funds programme, and £40M is immediately deployable capital.

The fund’s overarching objective is to back technologies that will make a meaningful impact by solving big problems, enabling industries to become more efficient and cost-effective while transitioning to low carbon operations. Its strategy includes investment in automation and AI, carbon capture, electrification, and low-carbon materials.

Elbow Beach specialises in backing technologies that address some of the world's most pressing challenges, focusing on innovation that solves global issues. They are particularly concentrated on supporting industries related to environmental sustainability, such as reducing carbon emissions and transitioning to clean energy. Their portfolio emphasizes commercializing British innovations that drive large-scale improvements in various sectors, including battery technology and electric vehicles. They aim to deliver both financial returns and a positive environmental impact.

“Elbow Beach’s new fund is targeting the intersection of efficiency gain and climate impact,” said Jon Pollock, Elbow Beach CEO and Managing Partner.

“Growth is what brings financial returns and impact together. The fund’s strategy is to help match technology against big customer problems and steer companies towards their end markets. We’re looking at investments including technology that halves energy use for household products like vacuums and dishwashers, and improves crop yields through robotics and AI,” continued Mr Pollock.

“The UK is second only to the US in total number of climate technology startups, but British businesses attract less than half the funding of their American counterparts. Elbow Beach is on a mission to plug that equity gap and ensure Britain remains a global leader in climatetechnology innovation. Being green isn’t enough in isolation - technology will only be adopted if it makes commercial sense. We’re going to help nurture the next generation of founders who are driving real transformation and who have the potential to provide customers with better, more cost-effective solutions at scale. The backing from the British Business Bank is a real vote of confidence in our mission and in Britain’s entrepreneurs."

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https://tech.eu/2025/03/21/elbow-beach-backs-britains-entrepreneurs-with-launch-of-new-up-to-ps80m-climate-impact-fund/ Fri, 21 Mar 2025 12:52:26 +0000 https://tech.eu/2025/03/21/elbow-beach-backs-britains-entrepreneurs-with-launch-of-new-up-to-ps80m-climate-impact-fund/feed 0
<![CDATA[Buynomics raises $30M for AI-driven pricing optimisation]]> https://tech.eu/2025/03/21/buynomics-raises-30m-for-ai-driven-pricing-optimization/ https://tech.eu/2025/03/21/buynomics-raises-30m-for-ai-driven-pricing-optimization/#comments Pricing and revenue optimisation company Buynomics, has raised $30 million Series B funding, bringing its funding to over $46 million. 

Founded in 2018, Buynomics' AI-embedded software transforms how enterprises optimise pricing, promotions, and product portfolios by simulating the behaviour of real-world shoppers with precision. 

This enables organisations to improve revenue, profitability, and market positioning in real-time across various channels, product portfolios, and geographies.  

Operational in over 25 companies with users such as Danone, Unilever, L'Oréal and  Vodafone, the platform drives 2-4 per cent gross profit increases while reducing analysis time by up to 80 per cent.  

The round was led by Forestay Capital, with participation from Anais Ventures, VI Partners, and existing investors Insight Partners, Seedcamp, DvH Ventures, and Tomahawk Ventures.

"We see immense potential in Buynomics' AI technology to redefine commercial decision-making," said Jonas Jeandupeux, Principal at Forestay Capital. 

"Their data-driven  approach is already changing how companies optimise revenue and pricing  strategies."  

"This is a defining moment for Buynomics," said Sebastian Baier, Co-founder and Managing  Director of Buynomics.

 "This significant investment propels us into the next phase of our evolution, accelerating our expansion into North America and reinforcing our position as the goto platform for revenue management and optimisation.

 With this funding, we are set up to  scale effectively and continue to deliver value to our partners worldwide."  

The funding will support global expansion, with a focus on North America, and further enhance Buynomics' pioneering Virtual  Shoppers AI technology.  

Lead image: Buynomics. Photo: uncredited.

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<![CDATA[Project Europe at the Tech.eu Summit: Changing the Game for Founders]]> https://tech.eu/2025/03/21/project-europe-at-the-tech-eu-summit-changing-the-game-for-founders/ https://tech.eu/2025/03/21/project-europe-at-the-tech-eu-summit-changing-the-game-for-founders/#comments The Tech.eu Summit London 2025 is just around the corner and will take place on 25-26 March at the Queen Elizabeth II Centre. The event is set to host a landmark discussion on the future of European entrepreneurship with an exclusive panel featuring Project Europe. This will be the first time key figures behind the initiative appear in person at an industry event to discuss its mission and impact.

A New Era for European Entrepreneurship

Project Europe, an initiative launched by Harry Stebbings, founder of 20VC, aims to reshape the European startup landscape by providing funding and mentorship to the next generation of ambitious founders. With backing from 125 top European entrepreneurs, Project Europe is dedicated to proving that Europe can build world-defining companies. The initiative selects 10-20 founders per year, investing €200,000 at the idea stage in exchange for 6.66% equity. The program is designed for founders under 25 who are tackling hard problems with technical solutions.

Exclusive Panel at the Tech.eu Summit London 2025

The panel, “Project Europe - Here to Change the European Narrative,” will bring together key members of Project Europe to discuss their vision and strategy for fostering entrepreneurship across the continent. Moderated by Kieran Hill from 20VC, the session will feature Alex Macdonald, Co-Founder of Sequel, and Kitty Mayo, CEO of Project Europe. 

The panel will take place on the first day of the event, 25 March. This session will provide attendees with a deeper understanding of Project Europe’s mission, the criteria for participation, and the support system it offers beyond investment, including mentorship, masterclasses, and exclusive networking opportunities.

A Defining Moment for the Initiative

  With its commitment to independent, founder-led innovation, the initiative is set to become a driving force in European entrepreneurship, offering an unprecedented level of support to young founders willing to take big risks.

Stay tuned for more updates from the Tech.eu Summit London 2025 as we bring together the biggest names in European tech to shape the future of the ecosystem. Don’t miss out—tickets are still available but going fast! Secure yours today and be part of the conversations shaping the future of Europe’s tech ecosystem. See you in London!

Partners

Platinum Partners

 

Gold Partners

  

Silver Partner

Pavilion Partners

 

Community Partners

 

Sesamers

StartupBlink

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<![CDATA[Bilbao Slush’D 2025: Where the future of innovation is built [Sponsored]]]> https://tech.eu/2025/03/21/bilbao-slushd-2025-where-the-future-of-innovation-is-built/ https://tech.eu/2025/03/21/bilbao-slushd-2025-where-the-future-of-innovation-is-built/#comments In the world of entrepreneurship, there are those who wait for change to happen and those who make it a reality. With the national debut of Slush Helsinki in Spain, Bilbao Slush’D 2025 has made it clear that the Basque Country belongs to the second group. With an ambitious vision, flawless execution, and the backing of the biggest global ecosystem players, Bilbao has positioned itself as a key hub for innovation and venture capital.

What took place at the Bilbao Exhibition Centre (BEC) was more than just an event. It was a turning point.

Bilbao: Where investors find the next unicorn

Being the first edition in Iberia and following a “north-to-north” ecosystem building strategy and with over 850 participants from 40 countries, including 95 speakers, 385 startup founders and managers, 250 international investors, and 185 corporates, Bilbao Slush’D 2025 was the perfect stage to connect the dynamism of Southern Europe with the pragmatism and strategy of the Nordic-Baltic hubs.

One number says it all: €8B in assets under management (AUM) concentrated in a single event. Money was not an issue—it was an opportunity. The presence of investment giants like BlackRock, Goldman Sachs, and McKinsey & Company, along with the Big Four (Deloitte, PwC, EY, and KPMG), confirmed what was already evident: Bilbao is on the radar of major global funds. 

Bilbao Slush’D Co-Founders and Co-Directors, David Cabezon and Elena Popovici

With 6 side-events, 2 days, 26 panels and 10 workshops, the 1st edition of Bilbao Slush’D proved that with conviction and the right ecosystem-building efforts, a city can transform into a global hub for innovation, attracting top investors, entrepreneurs, and thought leaders to shape the future of venture capital and startups. In total, over the course of two days, the event generated over 1,200 networking opportunities and 415 investor-founder meetings.

The event wasn’t just about established and upcoming names—it was also a stage for some of the most promising early-stage and growth-stage startups, including those backed by Y Combinator, Sigma Squared Society and featured in Poets & Quants as some of the most promising MBA-founded startups. These companies, spanning multiple industries from AI and fintech to sustainability and biotech, brought cutting-edge innovation and ambitious visions, attracting investors eager to bet on the next breakout success.

Beyond startups, Bilbao Slush’D 2025 also welcomed Kauffman Fellows, members of one of the most prestigious networks in venture capital, renowned for shaping the future of global investment and entrepreneurship. The event also attracted key national investor and angel networks, with BIGBAN Investors Spain and the Spanish Association of Business Angels (AEBAN) strengthening the bridge between startups and early-stage capital in Spain. Their presence ensured that emerging founders had direct access to business angels and syndicates looking to fuel the next wave of entrepreneurial success.

The event also highlighted the shifting landscape of venture capital, where new generations are demanding more openness, accessibility, and diversity in investment opportunities. This is why this edition featured Included VC, the prestigious venture capital Fellowship backed by a consortium of the very best in the VC industry that is focused on representation within the industry and opening doors to emerging talent. Among its representatives was Nikita Thakrar, co-founder & CEO and one of the most influential figures in venture capital.

baby vc was also present—a growing community of VCs, founders, and operators who share the mission of making the startup and investment ecosystem more accessible to the next generation of innovators. The message was clear: the future of venture capital is diverse, inclusive, and more accessible than ever.

The reverse pitch: When investors have to impress

Traditionally, entrepreneurs are the ones competing for investors’ attention. But at Bilbao Slush’D, the script was flipped.

For the first time, it was the investment funds that had to present their strategies and visions to startups in an unprecedented reverse pitch session. Venture capital is not just about money—it’s about strategic alliances, shared vision, and mutual growth.

Investment funds that participated in this dynamic included JME Ventures, Notion Capital, Tenity, Plug and Play, Kfund, Adara Ventures, Cometa VC, Lumo Labs, Cardumen Capital, Clipperton, Criteria Venture Tech, Perseo Ventures (Iberdrola), G+D Ventures, Trind VC, Acurio Ventures, Actyus, CVX Ventures, Ninepointfive, Moeve CVC, GoHub Ventures, BBVA Spark, Net Zero Ventures, Draper B1, Punch Capital, Seven Roots VC, and Inclimo Climate Tech Fund, among others.

The event also showcased scaleups such as Goparity, a fast-growing impact-driven investment platform, Red Points, one of Spain’s most promising scale-ups and recipient of the Future Unicorn Award 2023, and investment vehicles like Crowdcube, which is enabling thousands of investors to support startups across Europe. The event also welcomed the IESE Impact Fund from IESE Business School. This edition also hosted the prestigious PremiosEmprendeXXI by CaixaBank DayOne.

European VC and startup ecosystems: Facts & Insights

Europe’s venture capital and startup ecosystem is booming, with record investments and an increasing number of unicorns emerging from unexpected regions. In 2023 alone, European startups raised over €90B, proving the resilience of the ecosystem despite global economic uncertainty. Deep tech and AI startups are leading the way, with major funding rounds in areas like cybersecurity, climate tech, and fintech.

In Spain, according to Funds Society, private equity and venture capital funds saw their average TVPI (Total Value to Paid-In) grow from 1.5x to 1.6x in 2023, reflecting resilience in the face of market uncertainty. Meanwhile, research by Preqin shows that Nordic funds with strong focus on tech innovation boasted an average TVPI of 2.5x for top-quartile funds.

Among Europe’s startup hotspots, Estonia has the highest number of unicorns per capita in the world, producing companies like Wise, Bolt, and Pipedrive. Finland, home to Slush, has built a globally recognized startup ecosystem with strong government and corporate support. The Basque Country, meanwhile, is rapidly emerging as a top deep-tech and industrial innovation hub, leveraging its strong industrial heritage and focus on AI, green energy, and manufacturing.

The Bilbao Slush’D 2025 team, alongside esteemed guests like Peter Vesterbacka

One of the key themes was Nordic innovation, where leaders from Finland, Estonia, and Sweden shared insights into how tech-focused policies, public-private collaboration, and deep investment in R&D have turned the region into one of the world’s most competitive startup ecosystems. The Nordic model was particularly relevant in discussions around scaling born-global companies, an approach that emphasizes international expansion from day one.

Another crucial topic was AI in venture capital operations, highlighting how firms are leveraging machine learning for deal sourcing, portfolio monitoring, and due diligence automation. With AI transforming investment workflows, venture firms are increasingly integrating data-driven decision-making to optimize fund performance and startup success rates.

The rise of European impact investment was also a focal point, with discussions centered on current market dynamics, Nordic and Baltic best practices and the need for future-proof solutions. Investors emphasized the need for mission-driven startups that balance profitability with long-term sustainability, particularly as regulatory frameworks push toward ESG compliance and ethical innovation.

Ecosystem futures and the playbook for unicorn creation were explored through fireside chats with industry veterans who have built billion-dollar startups. The conversations provided a roadmap for founders looking to navigate the complexities of hypergrowth, attract global capital, and build category-defining companies.

Throughout the event, the most relevant industries and verticals were tackled in dedicated sessions, including biotech, femtech, health tech, foodtech, AI, deeptech, fintech, insurtech, SaaS, cleantech, and greentech.

Finland, Estonia & The Basque Country: Similarities in their innovation ecosystems

Despite their geographical differences, Finland, Estonia, and the Basque Country share remarkable similarities when it comes to entrepreneurship, innovation, and venture capital.

All three regions have strong industrial and engineering roots, making them natural hubs for deep-tech and industrial innovation. Finland’s expertise in telecommunications, Estonia’s leadership in digital infrastructure, and the Basque Country’s advanced manufacturing ecosystem all contribute to a shared culture of technological excellence.

Government-backed innovation has played a crucial role in their development. Each region has a strong commitment to research and development, with substantial public funding directed towards entrepreneurship and innovation. Initiatives such as Business Finland, Estonia’s e-Government strategy, and the Basque Country’s extensive R&D programs have fostered high-growth ecosystems that attract both local and international talent.

Their startup ecosystems are also built on tight-knit, highly collaborative networks, where startups, corporations, and investors work closely together. Unlike massive hubs like London or Berlin, these ecosystems thrive on trust and direct engagement, creating environments where early-stage companies can scale faster.

Another key similarity is their focus on education-driven talent pipelines which in the case of Bilbao was represented with the volunteers from Deusto Business School (University of Deusto). In the New Nordics, leading universities and research institutions like Aalto University, TalTech, Finnish Innovation Fund-Sitra, and VTT Finland play a crucial role in spinning off tech startups and providing a continuous stream of highly skilled engineers, product designers, and business leaders.

The event also saw participation from EIT Manufacturing, a key driver of industrial innovation in Europe, and Supernovas, an initiative fostering female entrepreneurship and investment. Their involvement underscored the increasing role of deep-tech, sustainability, and inclusivity in shaping the future of venture capital.

As strategic collaborators Bilbao Slush’D had Google for Startups, ICEX, ESTECH, Endeavor, the Embassy of Finland, Business Finland, Team Iberia, the Republic of Estonia through its e-Residency program, and Deloitte, who contributed to making it possible to build a strategic bridge between the Nordic-Baltic ecosystem and Southern Europe under the North-to-North strategy.

BBK Unicorn Night: Where the next generation of unicorns is born

Before the main event, six side-events including the BBK Unicorn Night brought together visionary founders, investors, and ecosystem leaders for an ice-breaking day of strategic networking and deal-making, all of which were amplified by collaborating with wavveup to amplify the networking and matchmaking capacity of the event. Unicorn Night, originally created at Hanken Business School in Finland and now backed by BBK and the Republic of Estonia, set the stage for Europe’s next wave of high-growth startups, unifying the distinct regional ecosystem of Spain in Bilbao.

Bilbao Slush’D brought some of the most influential figures in the global startup ecosystem, including Peter Vesterbacka, creator of Angry Birds and founder of Slush; Fiona Garvey, CEO of Softonic, who spoke about the future of software and the need for diversity; Agur Jõgi, CTO of Pipedrive, one of Estonia’s 10 unicorns, who explained how to build scalable products from the ground up; Itxaso del Palacio from Notion Capital, who shared insights on AI and venture capital; Laura Kankaala, Director of Threat Intelligence at F-Secure Corporation, one of the world’s leading cybersecurity experts; Nicolaj Højer Nielsen, co-founder and investor in Penneo and Sepior; Sari Rautio, the Ambassador of Finland in Spain; and Wouter Draijer, founder of SolarMente, bringing key perspectives on cleantech and sustainability.

Bilbao Slush’D has made it clear that innovation is not something to wait for—it’s something to build. Startups are not just looking for funding, they are seeking partners who share their vision. Investors, on the other hand, are not just looking for profitability, but for impact. And talent knows no borders, as Bilbao has demonstrated.

If you want to be at the center of global innovation, Bilbao Slush’D is the place to be. Here, innovation isn’t followed—it’s created. This event was sponsored by the Basque Government, through its business development agency SPRI Group, the Provincial Council of Bizkaia, BEAZ, and the Bilbao City Council.

Lead image: Janne Nuolioja

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https://tech.eu/2025/03/21/bilbao-slushd-2025-where-the-future-of-innovation-is-built/ Fri, 21 Mar 2025 09:40:00 +0000 https://tech.eu/2025/03/21/bilbao-slushd-2025-where-the-future-of-innovation-is-built/feed 0
<![CDATA[German AI startup Langdock mulls US move]]> https://tech.eu/2025/03/21/german-ai-startup-langdock-mulls-us-move/ https://tech.eu/2025/03/21/german-ai-startup-langdock-mulls-us-move/#comments A German AI startup backed by General Catalyst is considering opening a US office, its first overseas office.

Founded in 2023, Langdock has an office in Berlin but its executives are spending a considerable amount of time in New York and San Francisco.

Lennard Schmidt, Langdock CEO and co-founder, says the US is “more dynamic when it comes to AI than Europe”.

He said: “I think for us it’s still on the table if we move to the US.”

Schmidt said that should the startup open an office in the US, it would retain its Berlin office.

Schmidt also pointed out that Germany was behind the US and UK in commercialising AI research.

He said: “In Germany we have these very established institutions around doing deep research, what we do lack is the commercial aspect of taking that research and commercialising some of it.

“I feel the UK is in a better position right now, but also Paris, given their ties to the big American companies that have research facilities there.”

Germany has some well-known AI companies, such as Helsing, Aleph Alpha and Black Forest Labs.

Langdock is looking to capitalise on the fervour around ChatGPT and other LLMs while addressing employer concerns around data sharing and compliance when introducing AI chatbots into the workforce.

Langdock has built what is essentially a model agnostic chatbot, which sits between the LLM and a business, that it says employers can roll out centrally, securely, and compliantly to its employees, saying it gives businesses “peace of mind”.

Its tech, is says, basically addresses concerns a business might have when introducing ChatGPT, Claude or Gemini into the workforce.

Schmidt, who along with his co-founders Jonas Beisswenger and Tobias Kemkes, attended Berlin startup university CODE, says: “We take away all the concerns about what happens to the data because we have essentially all the compliance in place for that in terms of contract work and providers we work with.”

One potential benefit of Langdock, whose $3m seed fundraise last year was also backed by La Famiglia and Y Combinator, is that its clients, which include US pharma giant Merck and payment startup Mondu, are not tied to using one LLM for life, but can chop and change as they see fit.

While it is relatively easy for individual users to swap models, it is harder for enterprises given compliance and regulatory challenges.

Merck, for instance, uses Langdock as its AI base layer, which Merck calls MyGPT (with the Merck chatbot looking very similar to ChatGPT), which is rolled out to around 23,000 employees, about 45 per cent of its workforce.

Langdock, which has 15 employees, has European and US clients, but Schmidt points out European firms have more regulatory and data concerns than US firms, given the relative tightness of the rules, along with concerns about data sharing.

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https://tech.eu/2025/03/21/german-ai-startup-langdock-mulls-us-move/ Fri, 21 Mar 2025 09:23:42 +0000 https://tech.eu/2025/03/21/german-ai-startup-langdock-mulls-us-move/feed 0
<![CDATA[European cloud infrastructure startup evroc raises largest tech Series A in the Nordics]]> https://tech.eu/2025/03/20/european-cloud-infrastructure-startup-evroc-raises-largest-tech-series-a-in-the-nordics/ https://tech.eu/2025/03/20/european-cloud-infrastructure-startup-evroc-raises-largest-tech-series-a-in-the-nordics/#comments Hyperscale cloud infrastructure startup evroc has raised the largest tech Series A in the  Nordics to accelerate European growth. The funding exceeds €50 million and adds to over  €63 million previously raised. 

Giant Ventures led the funding which included existing backers EQT Ventures and Norrsken VC. 

Cloud adoption in Europe lags, with a penetration rate of just 41  per cent compared to 78 per cent in the United States, contributing to Europe’s productivity gap. 

With AI  predominantly deployed in the cloud, failing to close this gap risks widening the technological and economic divide vis-a-vis the United States.

Mattias Åström, Founder and CEO of  evroc, commented: 

“2025 will be a formative year for evroc. With the recent announcements of  our AI factory in France and our plans for an AI data center in Stockholm, this financing round has been instrumental in laying the foundation for our next phase of growth.”

This round will accelerate key milestones, including launching an AI factory in Mougins, France, and acquiring land for a flagship AI data centre in Stockholm, Sweden. 

By securing this backing, evroc is advancing its mission to drive European digital sovereignty and growth. 

Newly appointed board member  Alexandre Mars, Founder & CEO of blisce/, stated:  

“For too long, the European cloud and AI landscape has been dominated by foreign players. It is time for a European champion to rise and challenge the status quo.

With evroc, Europe is taking a decisive step toward securing its  digital sovereignty, shielding the continent from rising geopolitical tensions.” 

Additionally, Cameron McLain, co-founder and Managing Partner at Giant Ventures, highlighted the impact of the investment, noting that: 

“evroc provides European businesses with world-class cloud and AI services,  delivering the performance and security required by Europe’s forward-thinking companies. We see evroc as a beacon for the continent’s next wave of growth  and innovation.”

evroc plans to operate 10 hyperscale data centres, by 2030, employing more than 10,000 people across Europe.  

Lead image: evroc. Photo: uncredited.

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https://tech.eu/2025/03/20/european-cloud-infrastructure-startup-evroc-raises-largest-tech-series-a-in-the-nordics/ Thu, 20 Mar 2025 15:35:02 +0000 https://tech.eu/2025/03/20/european-cloud-infrastructure-startup-evroc-raises-largest-tech-series-a-in-the-nordics/feed 0
<![CDATA[Kosli secures $10M Series A to manage governance software delivery changes at scale]]> https://tech.eu/2025/03/20/kosli-secures-series-a-to-managing-software-delivery-changes-at-scale/ https://tech.eu/2025/03/20/kosli-secures-series-a-to-managing-software-delivery-changes-at-scale/#comments Kosli,  a Norwegian provider of automated governance solutions for software delivery, has raised $10 million in Series A funding-

Deutsche Bank's Corporate Venture Capital (CVC) group and Heavybit led the funding, including Defined Capital and Transpose Platform and several angel investors. 

Governance, risk, and compliance (GRC) workflows have lagged behind the significant cloud and DevOps transformations in software development, creating a slow and costly bottleneck that delays the release of changes to production - while also increasing risk. 

Since its launch in 2019, Kosli has been helping financial institutions navigate this tension, both as an enterprise-ready technology solution for governance process automation across the entire software stack, but also as expert advisors to guide an organisation’s software delivery governance strategy. 

Kosli Enterprise also launched today with new features for financial services businesses, including support for large user bases, change management automation, and audit evidence generation. 

“Kosli addresses the specific needs of software development teams that operate in highly regulated industries,” said Martin Reeves, who leads Engineering Platforms and Practice at Deutsche Bank's Technology, Data and Innovation division.

“We are delighted to partner and collaborate with Kosli to drive our vision of a highly efficient, transparent, and secure software development lifecycle that empowers our engineers to focus on developing solutions for the bank’s clients.” 

“Right now, teams in regulated industries are basing control and audit decisions on information that is written into text boxes. It destroys software delivery performance with manual work, and piles up errors and risks that are found retrospectively in audits or system failures,” said Kosli CEO and co-founder Mike Long. 

“We want to transform this broken process with controlled engineering so that teams can deliver compliant, secure changes quickly at scale.” 

“At Heavybit, we recognise the importance of being able to guarantee, in an era of AI-generated software, what software is running and when. We're excited to support Kosli's mission of delivering software more securely and with more accountability,” added Heavybit Managing Director, Tom Drummond. 

Kosli will use the funding to accelerate its adoption in servicing large banking clients, grow the team in all departments, and invest heavily in building more differentiated technology to automatically record and control the software delivery process. 

Lead image: Kosli founders, CCO James Logan and CEO Mike Long. Photo: uncredited. 

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https://tech.eu/2025/03/20/kosli-secures-series-a-to-managing-software-delivery-changes-at-scale/ Thu, 20 Mar 2025 15:00:40 +0000 https://tech.eu/2025/03/20/kosli-secures-series-a-to-managing-software-delivery-changes-at-scale/feed 0
<![CDATA[BioCopy raises €8M to cut cancer drug development from years to months]]> https://tech.eu/2025/03/20/biocopy-raises-8m-to-cut-cancer-drug-development-from-years-to-months/ https://tech.eu/2025/03/20/biocopy-raises-8m-to-cut-cancer-drug-development-from-years-to-months/#comments The German-Swiss biotech BioCopy has secured €8 million in funding. 

BioCopy focuses on the discovery and development of biotherapeutic drugs using an automated, AI-assisted end-to-end platform and is developing next-generation biotherapeutic drug candidates.

It aims to save valuable time for patients and partners in the pharmaceutical industry by reducing R&D time for cancer drugs from three years to 12 months, thereby significantly lowering development costs. The focus is on developing biotherapeutics against lung, bladder, and ovarian cancers.

 With its own development platform, instead of testing 10-100 drug candidates in an iterative semi-manual process, a total of 25,000 candidates can be tested in parallel in an automated process.

This innovative approach is expected to significantly shorten the development cycles of such drugs and thus significantly reduce costs. Where currently, around 500 employees are needed for the development of next-generation biotherapeutics, fewer than 10 employees will be required for the same process in the future.

"By 2040, according to the World Health Organization, every second person will be diagnosed with cancer at some point in their life," explains BioCopy CEO Matthias Wiedenfels. 

"With our patented solution in precision screening of cancer targets, i.e., specific target structures on cancer cells for drugs, and our expertise in AI-assisted antibody optimisation, we can produce highly complex drugs faster and in significantly larger quantities. This will save valuable time in the fight against cancer."

Supported by a group of experienced family offices and renowned entrepreneurs, the funding will help initiate the establishment of BioCopy’s automated ultra-high-throughput lab.

"The development of such drug candidates takes many years or even decades in conventional processes," adds Jörg Birkenfeld, Chief Science Officer of BioCopy. 

"Unlike previous workflows in the pharmaceutical industry, we can ensure a much higher throughput with our approaches at BioCopy. With the previous funding and upcoming investments, we will further expand this competitive advantage and advance the global fight against cancer."

Lead image: Freepix. 




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https://tech.eu/2025/03/20/biocopy-raises-8m-to-cut-cancer-drug-development-from-years-to-months/ Thu, 20 Mar 2025 14:18:31 +0000 https://tech.eu/2025/03/20/biocopy-raises-8m-to-cut-cancer-drug-development-from-years-to-months/feed 0
<![CDATA[Climatetech VC 2150 raises near €200M for Fund II]]> https://tech.eu/2025/03/20/climatetech-vc-2150-closes-near-200m-for-fund-ii/ https://tech.eu/2025/03/20/climatetech-vc-2150-closes-near-200m-for-fund-ii/#comments Climatetech VC 2150 announced today that it has raised almost €200 million for Fund II so far, with support from previous and new institutional investors, including Augustinus Fonden, Novo Holdings, EIFO, Carbon Equity,  Church Pension Group, and family office Viessmann Generations Group.

The new fund is 75 per cent of the size of Fund I. It has already led or co-led three investments into AtmosZero, Mission Zero Technologies, and METYCLE, with plans to build a portfolio of 20+ across North America and Europe.

According to the Firm, its thesis remains the same: research-led identification of solutions to the greatest challenges of the urban environment to help make cities and their citizens more efficient, resilient and sustainable. 

Its focus is Series A, although the initial check size range continues to be €3-15 million to help impactful technologies scale with a healthy reserve ratio to continue backing founders.

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https://tech.eu/2025/03/20/climatetech-vc-2150-closes-near-200m-for-fund-ii/ Thu, 20 Mar 2025 12:44:00 +0000 https://tech.eu/2025/03/20/climatetech-vc-2150-closes-near-200m-for-fund-ii/feed 0
<![CDATA[Polaron wins £1M Manchester Prize to develop new materials]]> https://tech.eu/2025/03/20/ai-startup-polaron-wins-ps1m-manchester-prize-for-next-gen-battery-tech/ https://tech.eu/2025/03/20/ai-startup-polaron-wins-ps1m-manchester-prize-for-next-gen-battery-tech/#comments Polaron, an artificial intelligence startup that accelerates the development of new advanced materials, has won the £1M inaugural Manchester Prize.

Polaron offers an AI-powered platform designed to accelerate the development and optimisation of advanced materials. The company leverages artificial intelligence to speed up the traditionally slow and costly process of material design by dramatically reducing prototyping time and enhancing material characterization. Their platform enables faster, more accurate 3D data generation and deep insights into material properties, allowing for the identification of high-performing materials and efficient manufacturing processes.

By integrating AI-driven optimisation, Polaron helps reduce the overall cost of development and manufacturing, enabling companies to bring better materials to market more quickly. This service is particularly valuable in sectors such as battery technology and other advanced material industries, where rapid innovation is crucial. Polaron’s AI tools support researchers and engineers by streamlining the design process, ultimately making materials science more accessible and cost-effective.

Polaron was founded by Dr Isaac Squires, Dr Steve Kench and Dr Sam Cooper, spinning out their research at Imperial College London in November 2023. The growing start-up unites AI, engineering, and materials science, paving the way for material innovations in batteries and beyond.

Dr Isaac Squires, CEO of Polaron, said: “We are thrilled to have won the first ever Manchester Prize - it has been an extraordinary team effort. In the last year, we have turned the research we pursued at Imperial College London into a commercial product, using our AI to reduce years of materials development into a matter of days. We are now working with our first customers in the battery manufacturing sector to apply Polaron to improve the performance of EVs by extending range and reducing charge times. While this has been our core market to date, Polaron is material agnostic, and we are already bringing our rapid design capabilities to industrial manufacturing more widely, including alloys, composites and catalysts.”

Feryal Clark, Minister for AI said: “The Manchester Prize shows how we’re putting AI to work for people all over the country – supporting breakthroughs and innovations which will unlock so much positive change in our lives. “Polaron’s work in developing advanced materials will have a range of uses, including in driving forward new efficiencies for the batteries powering electric vehicles – giving drivers more miles on the road – and in delivering homegrown energy like wind turbines – supporting lower cost, clean, secure power for the British people.

“The innovative work we’re supporting will mean that we can fast track untold numbers of new AI breakthroughs which put improvements into the hands of British citizens in mere days rather than years. This is how we’re putting our Plan for Change into action.”

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<![CDATA[Guide: What’s Coming Up at the Tech.eu Summit London 2025?]]> https://tech.eu/2025/03/20/guide-what-s-coming-up-at-the-tech-eu-summit-london-2025/ https://tech.eu/2025/03/20/guide-what-s-coming-up-at-the-tech-eu-summit-london-2025/#comments The Tech.eu Summit London 2025 is just around the corner! As the countdown speeds up, so does our excitement for one of the most anticipated events in the European tech ecosystem. We know that a great conference experience goes beyond just content. That’s why we’ve prepared this guide to help you navigate everything from arrival to networking opportunities, ensuring you make the most of your time at the Tech.eu Summit London 2025.

March 25 – First day of the Tech.eu Summit London 2025

On March 25, the Tech.eu Summit London 2025 kicks off at the Queen Elizabeth II Centre, followed by an exclusive VIP Reception in the evening. The conference will feature insightful sessions and networking opportunities throughout the day. Speakers, sponsors, and influential figures from the tech and startup ecosystem, including key investors, entrepreneurs, and industry leaders, will gather at the elegant 116 Pall Mall for a special VIP reception, setting the stage for high-level networking in this historic venue. 

The Queen Elizabeth II Centre is uniquely situated in the heart of London, right in the shadow of iconic landmarks such as Big Ben, Westminster Abbey, and the London Eye. Its central location offers easy access, with just a five-minute walk to the River Thames. Surrounded by excellent transport links, attendees can effortlessly reach the venue from various parts of the capital, making it convenient for both local and international guests.

March 26, 2025 – Second day of the Tech.eu Summit London 2025

On March 26, we continue the momentum at the Queen Elizabeth II Centre for a full day of innovative discussions, networking, and exploration of the latest trends in tech, entrepreneurship, and investment. The agenda is already live, featuring an impressive lineup of speakers and sessions.

Networking & Tech.eu Events App

We believe that conferences are just as much about the people as they are about the content. With the Tech.eu Events App, you’ll have access to the full agenda, speaker details, and networking tools that allow you to connect with other attendees, arrange meetings, and stay updated on everything happening during the event.

See You at the Tech.eu Summit London 2025!

Get ready for an unforgettable experience at the Tech.eu Summit London 2025. If you haven’t secured your ticket yet, now is the time. Don’t miss this opportunity to be part of the conversation shaping the future of European tech. See you in London!

Partners

Platinum Partners

 

Gold Partners

  

Silver Partner

Pavilion Partners

 

Community Partners

 

Sesamers

StartupBlink

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<![CDATA[BNPL fintech Qlarifi secures pre-seed funding of £1.4M]]> https://tech.eu/2025/03/20/warren-raises-eur3m-in-funding-to-transform-financial-wellness-in-the-workplace/ https://tech.eu/2025/03/20/warren-raises-eur3m-in-funding-to-transform-financial-wellness-in-the-workplace/#comments Qlarifi, a BNPL fintech startup, has raised a pre-seed funding round of £1.4M backed by a combination of HoneyComb Asset Management, Carthona Capital and a selection of angel investors including Australian rugby legend John Eales. The funding will be used to build out data infrastructure and drive customer acquisition across key markets.

Qlarifi provides a real-time, comprehensive consumer credit database designed to enhance risk management and fraud detection for lenders. It offers detailed data on consumer credit usage, with a particular focus on Buy Now Pay Later (BNPL) transactions, which are often excluded from traditional credit reports.

By updating data every 3.5 seconds, Qlarifi enables lenders to make more accurate and timely underwriting decisions, improving the access to credit for responsible consumers while identifying those in financial distress.

The service also strengthens fraud prevention by detecting potential fraud patterns earlier, allowing lenders to act quickly. With a strong emphasis on data privacy and security, Qlarifi ensures compliance with regulations like GDPR and CCPA. Its infrastructure is built for scalability and is designed to reduce operational risks and scoring costs for lenders by providing up-to-date and relevant consumer data. This makes Qlarifi an effective tool for modernizing consumer credit assessments, particularly in the growing BNPL sector. There are nearly 415,000 daily BNPL applications in the UK.

“Our reason for building Qlarifi was to create transparency and a fit-for-purpose solution to a problem that’s been frustrating us for too long. We’re proud that the industry has responded so positively. They’ve been crying out for the real time information Qlarifi provides.” said Alex Naughton, CEO and Co-Founder of Qlarifi.

“This funding round reflects the confidence our investors have in our mission, and enables us to take the next leap in our growth journey. “We’re delighted to invest in Qlarifi as they work to transform the rapidly growing BNPL market,” said Dean Dorrell, Partner at Carthona Capital. “With BNPL becoming an even more dominant force, their focus on delivering next generation technology is perfectly timed to meet the industry’s evolving needs.” 

“Qlarifi is tackling transparency in a booming industry that is demanding their solution. The response Alex, Loic and the team have already received will be important for both businesses and consumers in the ecosystem”, added John Eales, businessman and former Australian rugby captain. “It’s exciting to have the opportunity to invest in their journey.”

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<![CDATA[Latvia: A startup-friendly tech ecosystem]]> https://tech.eu/2025/03/20/latvia-a-startup-friendly-tech-ecosystem/ https://tech.eu/2025/03/20/latvia-a-startup-friendly-tech-ecosystem/#comments Latvia’s tech ecosystem is expanding rapidly, with fintech, AI, and health tech among its key sectors. In 2024, Latvian tech companies raised approximately €34.9 million. While total funding has declined since 2021, strong collaborations with universities and industry leaders continue to drive growth, with the ecosystem valued at €2.3 billion.

According to the Latvian Startup Report 2024, the country is home to over 500 startups, with Riga as the primary hub.

The Latvian government plays a vital role in fostering innovation through strategic initiatives such as startup funding, tax benefits, innovation vouchers, and the Startup Visa program, which attracts international talent. Latvia also offers a fully digitalized business environment, enabling entrepreneurs to launch a company online in just 10 minutes, with e-signatures and digital tax filing streamlining operations.

Recognized as one of the most startup-friendly countries, Latvia ranked second among OECD nations in 2024 for tax competitiveness, offering significant tax reductions in special economic zones, making it an attractive destination for entrepreneurs and investors.

Here are ten companies to watch in 2025.


Amount raised in 2024: €8.5M Origin Robotics is a defence technology company dedicated to advancing unmanned aerial systems for enhanced security. The company specializes in developing advanced autonomous systems to bolster the capabilities of Europe and NATO allies. Their flagship product, BEAK, is a man-portable, drone-launched precision-guided weapon system with a range of up to 15 km. Notably cost-effective, BEAK offers a per-strike cost 20 times lower than alternatives, making it one of the most economical jamming-resistant precision-guided systems available. The company’s mission is to provide future-proof solutions that strengthen defence capabilities in an evolving security landscape. Over two rounds, the company raised €8.5 million in 2024, aimed for the development of a man-portable ISTAR drone (intelligence, surveillance, target acquisition, and reconnaissance) with target laser designation capability.


Amount raised in 2024: €4.4M Aerones is a leading provider of robotic wind turbine maintenance and inspection services, utilizing proprietary technology to deliver faster, safer, and more efficient solutions. Their services include lightning protection system inspections, internal blade inspections, drone inspections, drainage hole cleaning, blade cleaning, tower cleaning, leading edge repair, painting, and ice-phobic coating applications. The company secured a €4.4 million grant from the EU Innovation Fund in 2024 which will support the development and deployment of the world's first robotic system for wind turbine blade leading edge repairs.


Amount raised in 2024: €3.1M Mintos is a European investment platform offering retail investors access to a diversified portfolio of traditional and alternative assets, including loans, bonds, and ETFs. Founded in 2014 the company has grown to over 500,000 registered users and manages assets exceeding €600 million. Mintos' mission is to democratize investing by providing easy access to a diverse range of investment opportunities, enabling users to build wealth through long-term, passive income strategies. In 2024, the company raised €3.1 million through a 14-day crowdfunding campaign to support its expansion into new European Union markets and the launch of new products.


Amount raised in 2024: €3M Mapon is a company specializing in professional fleet management and asset tracking solutions. Their platform offers a range of services, including GPS tracking, fuel control, driver behaviour analysis, and cold chain monitoring, catering to industries such as transport and logistics, construction, courier and delivery, agriculture, and waste management. Mapon's solutions are designed to enhance operational efficiency, reduce costs, and improve overall fleet performance. As part of the Draugiem Group, an international IT company association from Latvia, Mapon operates globally with branches and partners, ensuring comprehensive support for clients across various regions. In 2024, the company secured €3 million in funding through a bond issuance that attracted both private and institutional investors.


Amount raised in 2024: $2M Jeff App is a financial technology company dedicated to enhancing financial inclusion in emerging markets by connecting underbanked individuals with suitable financial products. The platform leverages alternative data sources, such as digital footprints, to assess creditworthiness, thereby opening new market opportunities for banks and lenders. Jeff App offers services like lead generation, data APIs, and partnerships across various industries, including banking, telecommunications, insurance, e-commerce, and mobility. The company has raised nearly $5 million in funding and has been recognized as one of the fastest-growing tech companies in Central Europe by Deloitte. In 2024, Jeff App secured $2 million in late-seed funding to expand commercially into India and other emerging markets across Asia and beyond. The company will also use funds to attract top tech talent and enhance its marketplace by developing a broader range of financial services and products, including credit offerings.


Amount raised in 2024: €1.5M Electrify is a company specializing in retrofitting medium-sized electric buses, vans, and minibuses for the European market. The company handles the entire process—from design and manufacturing to certification—ensuring seamless integration of electric mobility solutions. Their offerings include passenger electric minibuses with features like low-floor entrances, disabled passenger ramps, and interactive displays. The company has delivered over 20 electric passenger minibuses to European clients, aiming to enhance public transport with sustainable options. The company secured a €1.5 million investment in 2024, which will be used to increase production capacity and take advantage of the expected rise in demand for electric minibuses in Norway.


Amount raised in 2024: €1.27M Sorsera is an AI-driven platform that enhances the tendering process by connecting buyers, suppliers, and collaborators. It offers advanced intelligence and collaboration tools to streamline procurement activities. Sorsera offers a comprehensive solution for all participants in the bidding process, providing essential tools to enhance procurement success. Its platform enables tendering and collaboration across the EU, simplifies bid management, delivers precise customer data, and offers deep market and supplier insights. Additionally, Sorsera streamlines internal collaboration, making it easier to prepare RFPs, tenders, and RFIs efficiently across various sectors. In 2024, the company raised €1.27 million in funding, including over €950,000 from the European Union, to develop AI-driven solutions for the supply chain and procurement industries.


Amount raised in 2024: €935K Cellbox Labs is a company that specializes in developing advanced organ-on-a-chip technologies—miniature organ replicas outside the human body. These microphysiological systems are designed to enhance drug discovery processes by providing more precise and human-relevant models. The company's platform integrates both hardware and software, allowing for flexible experiment design and significantly reducing hands-on time. Cellbox Labs focuses on various applications, including microbiome research and cancer diagnostics, aiming to improve precision medicine. The company secured €935,000 in a pre-seed funding round in 2024 to finalize the first version of its device and initiate sales.


Amount raised in 2024: €650K inGain is a company offering a no-code SaaS loan management system designed to streamline financial operations for businesses across various industries. Their platform enables companies to focus on core activities by automating processes such as loan origination, servicing, collateral management, and debt collection, all without the need for extensive IT involvement. This flexibility allows businesses to launch new financial products, enter new markets, and embed fintech solutions into their customer journeys quickly and cost-effectively. In 2024, inGain secured €650,000 in funding to further enhance its no-code SaaS loan management system.


Amount raised in 2024: €80K BeTriton is a company that has developed an innovative, fully electric amphibious recreational vehicle that seamlessly integrates three functionalities: a hard-top motorboat, a cargo tricycle, and a compact camper accommodating two people. This unique 3-in-1 design offers users an immersive outdoor experience, enabling seamless travel over both land and water. The concept for BeTRITON originated from co-founder and CEO Aigars' remarkable 30,000-kilometer cycling journey from London to Tokyo, during which the idea of amphibious campers was conceived. Since the launch of its Alpha prototype in 2020, BeTRITON has garnered significant global media attention, reflecting its commitment to revolutionizing sustainable travel. In 2024, the company raised €80,000 from 150 investors through an equity crowdfunding campaign on Crowdcube. The funds will be used to expand production for building a rental fleet, generating revenue by charging businesses and individuals, as well as selling units to other rental companies.

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<![CDATA[Catchwise raised €1.25M Pre-Seed for a more efficient and sustainable fishing industry]]> https://tech.eu/2025/03/20/catchwise-raised-eur125m-pre-seed-for-a-more-efficient-and-sustainable-fishing-industry/ https://tech.eu/2025/03/20/catchwise-raised-eur125m-pre-seed-for-a-more-efficient-and-sustainable-fishing-industry/#comments Catchwise, a pioneering technology company transforming the wild fishery industry, has raised €1.25 million Pre-Seed funding.

Fishing vessels provide the world with some of the greenest animal protein available while navigating vast and often dangerous oceans. These vessels can spend weeks or months at sea—burning thousands of litres of fuel daily— to fill their sustainably set quotas that protect our shared ocean resources. Traditionally, reducing fuel consumption meant investing in new gear or vessels to achieve incremental improvements. Catchwise aims to break that mold. 

By integrating SAT-AIS (satellite ship tracking) data, 20 years of fishery records, and comprehensive ocean metrics — such as temperature, salinity levels, and much more — Catchwise delivers actionable insights that empower fishing captains to optimise their operations. Its platform consolidates real-time visualisations, predictive analytics, and operations automations into one seamless solution. 

While the platform is still evolving, its promise to significantly reduce search time—and eventually cut fuel consumption by up to 50 per cent -- is already generating excitement in the industry. Today, the platform supports over 50 vessels daily and serves 20 paying customers who together manage more than 50 fishing vessels.

Catchwise was founded by Ludvig A. Løddesøl, Tomas Roaldsnes, Jonas Dammen, Kristian Andersen Hole, and Åsmund Brekke, bringing together AI expertise and experience from the commercial fishing industry. This happened after they won the FishAI: Sustainable Commercial Fishing competition in 2022.

"This funding milestone is a key enabler for us to lean in and give the fishing industry the modern software they deserve, as well as a nod from the international investment community that there is significant value to be created here," said Ludvig Løddesøl, CFO and co-founder of Catchwise. 

Dreamcraft Ventures led the round, followed by Sondo and Ocean Impact, with additional participation from angel investors with strong startup backgrounds at companies such as Oda, Enode and Meltwater.

According to Daniel Mariussen at Dreamcraft Ventures, by harnessing AI and data-driven technology, Catchwise is transforming fishing practices for a more efficient, cost-effective, and sustainable future.

"Their cutting-edge solution is already delivering increased catch efficiency, reduced operational costs, and a lower carbon footprint—ushering in a new era for the industry." 
 

"Catchwise is exactly the type of team that we love to partner with! They combine a deep understanding of data and AI with customer obsession, and they're not aiming to incrementally improve anything — they're aiming to change the fishing industry entirely; making it truly data-driven and more sustainable!" shared Henrik Hatlebrekke, Sondo.

With the fresh funding, the company is now ensuring product-market fit across various fisheries and the development of its operational-at-sea AI solution. 

Lead image: Catchwise. Photo: uncredited. 

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https://tech.eu/2025/03/20/catchwise-raised-eur125m-pre-seed-for-a-more-efficient-and-sustainable-fishing-industry/ Thu, 20 Mar 2025 09:15:07 +0000 https://tech.eu/2025/03/20/catchwise-raised-eur125m-pre-seed-for-a-more-efficient-and-sustainable-fishing-industry/feed 0
<![CDATA[Belgian wealthtech Warren raises €3M to boost workplace financial wellness]]> https://tech.eu/2025/03/20/belgian-wealthtech-warren-raises-eur3m-to-boost-workplace-financial-wellness/ https://tech.eu/2025/03/20/belgian-wealthtech-warren-raises-eur3m-to-boost-workplace-financial-wellness/#comments A Belgian fintech looking to boost financial wellness in the workplace has raised €3 million in pre-seed funding. Warren, founded in 2024, seeks to alleviate financial stress in the workplace by offering employees a range of tools. These include AI-powered financial coaching and education tools, bespoke insights and access to expert advice.

The funding round was led by Motive Ventures, with participation from Entourage, Syndicate One, Pitchdrive, 1105 and several business angels. Warren was founded by a group of former executives with French HealthTech Alan. Cedric De Vleeschauwer (who is also an angel investor in Mistral), David Du Pré and Pieterjan Behaeghe all worked at Alan.

The other co-founders are Jos Polfliet, previously of document processing startup Metamaze, and Tijs Deryckere, previously of Belgian bank KBC.

Warren thinks it has hit a sweet spot, pointing to research showing that 78 per cent of employees feel financially stressed; 60 per cent of employees think their organisation needs to prioritise financial wellbeing; and 42 per cent would consider changing jobs for better financial support. The startup says it will use the funds to beef up its offering.

De Vleeschauwer said:

"The democratisation of wealth advisory is the start of a new movement. Our platform will integrate advanced AI insights, human financial expertise and personalised coaching and education into one holistic, user-friendly experience."

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<![CDATA[UK government urges more Silicon Valley firms to set up shop in UK]]> https://tech.eu/2025/03/20/uk-government-calls-for-more-silicon-valley-firms-to-set-up-shop-in-uk/ https://tech.eu/2025/03/20/uk-government-calls-for-more-silicon-valley-firms-to-set-up-shop-in-uk/#comments The UK government is calling for more Silicon Valley tech firms to set up shop in the UK amid the AI boom. The UK is "rewiring” its economy to run on AI, according to the UK technology secretary Peter Kyle, who is calling for closer tech partnerships between the UK and the US.

Speaking at Nvidia’s annual conference in San Jose, Kyle will say:

"In empty factories and abandoned mines, in derelict sites and unused power supplies, I see the places where we can begin to build a new economic model. A model completely rewired around the immense power of artificial intelligence. Where, faced with that power, the state is neither a blocker nor a shirker - but an agile, proactive partner. In Britain, we want to turn the relics of economic eras past into AI growth zones."

During his visit to the US, Kyle will meet with executives from US AI tech firms, including Open AI, Anthropic and Nvidia. The UK government wants more US tech firms to follow Anthropic and OpenAI and set up offices in the UK. However, in a knock to the UK, US VC firm Andreessen Horowitz recently retreated from the UK.

Addressing business leaders, developers, and innovators, the tech secretary will lay out the UK’s vision for how AI and advanced technologies are being put to work to help solve some of the country's most complex shared challenges.

Central to his message is that the UK is ready for AI investment, pointing to the UK’s growth zones, designated areas to ramp up the UK’s AI infrastructure and technology efforts, which were announced as part of the government’s AI Action plan earlier this year.. Kyle is calling for investors, overseas and domestic, to step forward and invest in them.  

Kyle will say:

"There is a real hunger for investment in Britain, and people who are optimistic about the future, and hopeful for the opportunities which AI will bring for them and their families. States owe it to their citizens to support it. Not through diktat or directive, but through partnership."

Recent US investments in the UK include a £12 billion commitment from Vantage Data Centres to expand Britain’s data infrastructure and a government partnership with Anthropic to enhance collaboration on leveraging AI to improve public services nationwide.

In January this year, UK prime minister Keir Starmer laid out the government's plans to use AI across the UK to boost growth and deliver services more efficiently. The AI Opportunities Action Plan is backed by leading tech firms, some of which have committed £14bn towards different projects, creating 13,250 jobs, the government said. However, observers have questioned how much time and investment the UK’s AI plans will require to become a reality.

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<![CDATA[How Wexler AI is transforming legal fact analysis and case strategy]]> https://tech.eu/2025/03/20/how-wexler-ai-is-transforming-legal-fact-analysis-and-case-strategy/ https://tech.eu/2025/03/20/how-wexler-ai-is-transforming-legal-fact-analysis-and-case-strategy/#comments We’ve been tracking the evolution of legaltech startups for a while at Tech.eu, and  I’m always keen to see pilots transcend to commercial relationships. 

Wexler AI has developed an AI-embedded platform that enables lawyers to uncover key facts, identify inconsistencies, and streamline case preparation. 

It core functionalities include:

  • Advanced fact extraction and analysis: The system can process up to 500,000 documents simultaneously, surfacing critical facts and connections that might otherwise go unnoticed.

  • Chronology creation: Lawyers collaborate with Wexler AI to construct detailed timelines from extensive document sets, ensuring transparency in how key facts are selected and connected.

  • Inconsistency mapping: The AI detects contradictions between testimony and evidence, enhancing cross-examination and case strategy development.

Law firm Clifford Chance has entered into a commercial relationship with Wexler AI following a successful six-month pilot. In particular, the ability to operate across jurisdictions, Wexler AI has enabled seamless deployment across Clifford Chance’s global dispute resolution practice.

“At Clifford Chance, we are committed to leveraging innovative technology to enhance the quality and efficiency of our legal services,” said Claire Freeman, Partner in Clifford Chance’s Litigation and Dispute Resolution team. 

“Wexler AI’s fact extraction, verification, and analysis capabilities have proven invaluable. The platform has received strongly positive feedback from our teams, reinforcing its robust functionality and practical benefits for dispute resolution.”

“This partnership exemplifies what’s possible when world-class legal expertise meets purpose-built AI,” said Gregory Mostyn, CEO of Wexler AI. 

"Clifford Chance and wexler.ai are innovating together to enhance how dispute resolution services are delivered. 

Clifford Chance lawyer insights into complex global disputes directly inform our platform development, while our specialised AI helps them uncover critical facts that might otherwise remain hidden."

Lead image: Wexler AI. Photo. uncredited. 

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<![CDATA[peopleIX raises €2.3M for HR data integration]]> https://tech.eu/2025/03/20/peopleix-raises-eur23m-for-hr-data-integration/ https://tech.eu/2025/03/20/peopleix-raises-eur23m-for-hr-data-integration/#comments HRtechpeopleIX has raised €2.3 million Pre-Seed funding led by Earlybird-X with the participation of neoteq ventures, TS Ventures, and HRtech business angels.

HR leaders today struggle with disconnected data spread across multiple tools— HR Information Systems (HRIS), Applicant Tracking Systems (ATS), performance and engagement tools, payroll and business systems, etc. 

peopleIX solves this problem by integrating data across HR systems into a single platform, delivering real-time insights without requiring data science expertise.

Key benefits include predictive workforce insights,  connecting disparate HR and business systems to create a unified workforce intelligence platform and empowering people teams and business leaders with real-time analytics to drive business success.

“HR is no longer a support function - they are strategic business enablers, driving the optimisation of Human Capital,” said Nick Stodt, co-founder of peopleIX. 

“By building the intelligence layer for people data, we’re equipping CHROs and business leaders with the tools they need to unlock the full potential of their workforce and drive real impact,” added Dr Georg Schaal, co-founder of peopleIX.

With this new investment, peopleIX will expand its product capabilities and strengthen its market presence across Europe.

Lead image: peopleIX. Photo: uncredited.

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