In recent days, the tech industry has witnessed a wave of advancements and updates.
From groundbreaking AI developments to shifts in health care, it’s been nothing short of a rollercoaster ride.
With so many changes happening daily and quickly, it’s easy for some stories to slip through the cracks.
But worry not, we have gathered them all in this roundup to make sure that you stay updated in the ocean of tech innovations.
Do give it a read!
Zepz bags €243M to accelerate expansion in its core African markets
Zepz (formerly known as WorldRemit) is an online service for sending money abroad conveniently and at a low cost, using a computer, smartphone, or tablet. Recipients can receive the money as a bank deposit, cash pick-up, Mobile Money, or mobile airtime top-up.
This week, the London-based company raised $267M (approximately €243M) in a funding round led by Accel, with participation from Leapfrog, TCV, and Coller Capital. The company will use the funds to accelerate expansion in its core African markets and beyond.
Oriole Networks bags €20M funding to train advanced LLM
Founded in 2023 by UCL scientists, Professor George Zervas, Alessandro Ottino, and Joshua Benjamin, with seasoned CEO James Regan, Oriole Networks has developed a novel way of using light to connect thousands of AI chips together.
Once connected, the power of each graphics processing unit (GPU) is combined to form a “super-brain.” This super-brain can be used to train advanced Large Language Models a hundred times faster, with a thousandth of the latency, while using a tiny fraction of energy.
The company says its technology can increase data transfer speeds by up to 100 times, while also reducing power consumption to 2-3 per cent of that required by Ethernet cables. By using light to transmit data, the company hopes to make data centers more energy efficient.
This week, the company raised £17.5M (approximately €20M) in Series A funding round from Plural and other undisclosed investors.
Dexory secures €72.8M to develop robotics and AI logistics solutions
Dexory develops robotics and AI logistics solutions to drive better business decisions. The platform’s flagship product — DexoryView automates data collection and builds real-time fed digital twin technology that unlocks insights across all levels of warehouse operations.
Recently, the company raised $80M (approximately €72.8M) in a Series B funding round led by DTCP, with participation from Latitude Ventures, Wave-X, and Bootstrap Europe, along with existing investors Atomico, Lakestar, Capnamic, and several angels from the logistics industry.
TrueLayer secures €45M
Founded in 2016 by Francesco Simoneschi and Luca Martinetti, TrueLayer is a fintech platform utilised to build financial apps that connect to bank data, verify accounts, and access transactions.
The company’s products help businesses of all sizes onboard new users, accept payments, and make payouts at scale.
The company raised an additional $50M (approximately €45M) in funding in an extended Series E round.
ALL.SPACE bags €40M for its connectivity solutions
ALL.SPACE (formerly Isotropic Systems), develops advanced simultaneous multi-orbit, multi-network connectivity solutions designed to provide seamless, high-speed communications across air, land, sea, and space.
The company’s technology focuses on enabling satellite and terrestrial network convergence, allowing users to switch between communication systems without losing critical connectivity.
This week, the company raised $44M (approximately €40M) led by the BOKA Group, with additional participation from existing investors AE Ventures, the venture capital platform of AE Industrial Partners, LP, Seraphim Space, Promus Ventures, and other key investors.
The company will use the funds to fuel the commercial launch of its first-generation terminal.
Enara Bio raises €30M to develop cancer treatments
Enara Bio is using Dark Antigen and T-cell biology to develop cancer treatments that target specific types of cancer in solid tumors. They are working on creating ready-to-use therapeutic cancer vaccines in partnership with Boehringer Ingelheim.
Recently, the company raised $32.5M (approximately €30M) in a Series B financing round from new and existing biotech investors.
The round was co-led by new investors, Pfizer Ventures and M Ventures, with participation from all existing investors including RA Capital, Samsara BioCapital, and SV Health Investors. The Francis Crick Institute is also joining the round as a new investor.
Enara Bio will use the proceeds to advance its pipeline of TCR-based immunotherapies against novel and differentiated Dark Antigen targets for solid tumors.
Neutreeno secures funding
Neutreeno is a pioneering deep tech startup spinning out of the University of Cambridge.
The company’s unique process networks, based on mass and energy flow research, reduce the data burden on suppliers and help enterprises map product lines faster and more accurately than existing tools.
Their easy-to-use and affordable digital system automatically pinpoints solutions that reduce emissions and costs across 1,000s of suppliers.
Neutreeno’s customers span Asia, Europe, and North America, including S&P 500 and FTSE 250 companies across multiple industries, and a wide range of SMEs.
This week, the company secured $5M in a Seed round led by Regeneration.VC alongside Remarkable Ventures Climate Fund (RVC), Closed Loop Partners, Prequel Ventures, Scania Invest and Beacon Venture Capital.
Rivrs raises €4M to develop UGC video games
Founded by Romain Hubert and Loïc Deffains, Rivrs develops UGC video games, reusing market-leading game engines such as Minecraft, Roblox, or Fortnite.
This week, the French company raised €4M led by Pléiade Venture to multiply the creation of games on Roblox, Fortnite, Minecraft, and other platforms, as well as accelerate its international expansion.
ADAPTA Robotics secures €2M
Founded by Mihai Crăciunescu, Cristian Dobre, and Diana Baicu, ADAPTA Robotics is a robotics development company that provides solutions across various industries, including automotive, consumer electronics, medical, manufacturing, R&D, electronics refurbishment, wearables, and gaming.
With two key products — MATT and ERIS, Adapta seeks to provide high-performance automation tools that are accessible and easy to use by businesses and people.
Recently, the company raised €2M from Catalyst Romania, marking the eighth investment from Catalyst Romania Fund II. This investment round also attracted the participation of Women Invest in Tech (WIT).
BMLL bags €19.1M to provider of harmonised, Level 3, 2, and 1 historical data
BMLL Technologies is an independent provider of harmonised, Level 3, 2, and 1 historical data and analytics to the capital market participants, covering global equities, ETFs, and futures.
The company offers banks, brokers, asset managers, hedge funds, global exchange groups, academic institutions, and regulators immediate and flexible access to the most granular Level 3, 2, and 1 T+1 order book data and advanced pre and post-trade analytics.
BMLL gives users the ability to understand market behaviour, accelerate research, optimise trading strategies, and generate alpha more predictably.
The company raised $21M (approximately €19.1M) in a funding round led by Optiver, with co-participation from existing investors FactSet, Nasdaq Ventures and IQ Capital’s Growth Fund; and additional investment from Chicago Trading Company Venture Capital.
LoQus23 Therapeutics raises funding for its allosteric small molecule MutSβ inhibitor
LoQus23 Therapeutics Ltd is a biotechnology company investigating small molecule drugs that could stop DNA instability and slow neurodegeneration in Huntington’s Disease, myotonic dystrophy type 1, and similar triplet repeat expansion diseases.
Recently, the company raised £35M in a Series A funding round led by Forbion, alongside existing investors SV Health Investors’ Dementia Discovery Fund (DDF) and Novartis Venture Fund (NVF).
The company will use proceeds to support the pre-clinical development and initial clinical studies of LoQus23’s lead programme, an allosteric small molecule MutSβ inhibitor.
Formality raises €8M funding to manage legal documents through AI
Formality is the premier AI solution for managing legal documents. The company’s platform centralises all legal documents, providing instant access to the latest versions and timely alerts for important dates using artificial intelligence.
Recently, the company raised €8M fundraising round with Partech and Serena, complemented by €2.4M funding from Bpifrance. The company will use the funds to strengthen its team, improve its products, and fuel international expansion with the USA as the priority.
Ceeyu secures €1M to automate supplier risk management
Founded by cybersecurity expert Jimmy Pommerenke, Ceeyu is a SaaS platform that automates supplier risk management for companies facing NIS2 and DORA regulations.
The company centralises all relevant supply chain risk data in one easy-to-use interface, allowing companies to prioritize and efficiently mitigate risk in collaboration with their suppliers.
Recently the company raised €1M in growth funding from Pamica NV, the investment firm of Michel Akkermans, and Walter Van Uytven.
Ameba secures €6.4M to prevent disruptions and delays supply chain
Based out of London, Ameba uses AI to gather supply chain data from multiple sources into a single platform, generating live updates and insights to prevent disruptions and delays, enabling decision-making and improved efficiencies.
Recently, the company raised $7.1M (approximately €6.4M) in a Seed round led by Hedosophia.
Additionally, European early-stage investor Visionaries Club reinvested and Anamcara also participated. Ameba will use its Seed round to expand into new territories in the $45.2B global supply chain market.
RAIKU receives €8.8M to develop natural packaging material
RAIKU has developed a 100% natural packaging material with great looks, excellent shock absorption, and the lowest carbon footprint.
This week, the company received an €8.8M deal from the European Innovation Council and is collaborating with global brands.
RAIKU was also accepted into the LVMH Accelerator, chosen from over 1,500 applicants with just a 2 per cent success rate.
RAIKU will participate in LVMH’s Business Accelerator Program Season 10 from July 2024 to July 2025. In addition, RAIKU is raising more capital to build a second factory in France.
Revolut urging Meta to commit to sharing reimbursement of fraud victims.
Revolut is urging Meta to commit to sharing reimbursement of fraud victims. According to the fintech firm, Meta’s recently announced data-sharing partnership with banks and financial institutions falls short of what’s required to tackle fraud globally.
Revolut released the second installment of its Consumer Security and Financial Crime Report, which discloses exclusive scam and fraud insights from the first half of 2024.
The report showed that Meta platforms remain the main source of all scams reported to Revolut in H1 2024 (62%), with no significant change compared with H2 2023 (64%).
Podimo acquires Podads
Podimo, a subscription-based podcasting and audiobook service, announced this week that it has acquired Podads, a podcast agency and advertising platform, to create better growth opportunities for podcasts and bolster podcast advertising in the market.
Post-acquisition, Podads will continue to operate independently under CEO and Co-Founder Anne-Kathrine Pommergaard.
Ekolution raises €2.2M to create sustainable building materials
Founded in 2013 by Remi Loren, Naib Woldemariam, and Henrik Jacobsson, EKOLUTION develops climate-friendly construction materials made from industrial hemp.
The company is on a mission to create sustainable building materials that significantly reduce carbon footprints.
Recently, the company raised €2.2M from existing investors, including Longrun Capital, South Bay Ventures, Neptunia Invest, and Gunnar Hagman
The new funding will support the company’s expansion as it continues to innovate within the green construction sector, with a focus on scaling production and broadening its market reach.
Huma acquires eConsult
Huma is a healthcare AI company on a mission to accelerate the adoption of digital solutions in care and research. Recently, the company announced that it has acquired eConsult, a digital-first triage and automated consultation platform across primary and emergency care.
This acquisition is set to further advance the National Health Service (NHS) as one of the world’s most proactive health systems—digital-first, AI-first, and most importantly, patient-first.
In addition to this acquisition, Huma has recently launched the Huma Cloud Platform and Huma’s Workspace, which enables primary care providers (GPs), community and secondary care providers (NHS Trusts), and Integrated Care Boards (ICBs) to access a comprehensive array of digital health solutions.
These include appointment booking, automated prescriptions, screening tools, teleconsultation, remote monitoring, virtual wards (for hospitals), patient education and disease management apps for rare, chronic, and acute conditions, messaging tools, and electronic data capture (EDC) for clinical research and more.
Woolsocks acquires loyalty app OK
Woolsocks is a fintech firm that utilises innovative open banking technology to help brands optimise promotions, gain unique insights into consumer behavior, and increase revenue through hyper-personalized, data-driven marketing and loyalty campaigns.
Recently, the company announced the acquisition of loyalty app OK, as a part of the company’s strategic expansion across Europe.
By integrating OK’s features into the Woolsocks app, the company will offer new loyalty features to over 5 million users in the Netherlands, Belgium, Germany, France, Italy, Spain, and Ireland.
The OK app allows users to store and manage loyalty cards, gift cards, and coupons from major retailers such as IKEA, Decathlon, and MediaMarkt in one place.
Source.ag launches new office in Chicago
Source.ag, the provider of AI solutions for vegetable growers, announced this week, the launch of its new office in Chicago, Illinois.
The opening is part of the company’s vision to expand its local presence to more effectively address the needs of growers in North America.
The new office and dedicated regional team will focus on aiding growers in Canada, the United States, and Mexico to make data-driven decisions, increase operational efficiency, and scale faster.
Source.ag’s advanced AI technology is helping growers worldwide scale faster and operate more efficiently; boosting vegetable yields and creating more sustainable practices.
Source.ag’s clients include VillaSerre, Agro Care, Thanet Earth, The Green House Growers, Grupa Mularski, Le Jardin de Rabelais, and other leading growers worldwide.
Foreverland bags €3.4M to create sustainable cocoa-free chocolate alternatives
Founded by Massimo Sabatini, Riccardo Bottiroli, Giuseppe D’Alessandro, and Massimo Brochetta, Foreverland is a food-tech startup dedicated to creating sustainable cocoa-free chocolate alternatives.
Founded in 2023, the company is known for its flagship product, Choruba (formerly Freecao), which offers a delicious, ethical, and eco-friendly option for chocolate lovers.
This week, the company raised €3.4M in a Seed round from a diverse group of investors, including food-specific venture funds like Grey Silo Ventures, Eatable Adventure and Kost Capital, and players such as CDP Venture, Exor Ventures, 2100 Ventures, Ulixes Capital Partners, Newland Syndicate, Moonstone and other key investors in the food industry.
This funding will enable Foreverland to enter its next phase of growth, supporting its European expansion, the development of new products, and the establishment of its first production facility in Puglia, Italy set to be operational from January.
Extens acquires Medicore
Extens is a dedicated European private equity software investor for healthcare. Recently, the company announced the acquisition of a majority stake in Medicore, a Netherlands-based company specializing in the development of a unique solution for mental health and youth care facilities.
Medicore is a developer of unique web-based, interoperable electronic patient and client records (EHRs) and data-driven healthcare applications.
Medicore’s software solutions significantly contribute to process improvement, enabling healthcare professionals to fully focus on providing care. The Dutch company currently serves over 25,000 healthcare professionals.
Shift secures €350K to help people make sustainable changes
Shift has developed a program that encourages people to make sustainable changes, resulting in an average CO2 reduction of 25% per participant.
Now, Shift is looking to expand this program by offering a sustainability platform through Dutch municipalities.
This platform creates a personal psychological profile of users based on their carbon footprint and their answers to a set of customised questions.
Users can access sessions with experts for advice on sustainable and plant-based eating, circularity, home energy use, waste reduction, travel, and other relevant topics.
Additionally, the platform offers personalised content and links to sustainable initiatives and events.
As a result, Shift received €350K funding from Innovatiefonds Noord-Holland to develop a sustainability platform that inspires people to change their lifestyle.
EIT Digital announced the official launch of UNITE
This week, EIT Digital announced the official launch of UNITE, a pan-European project aimed at transforming healthcare through digital deep-tech innovation.
UNITE is launching funding opportunities for innovative European companies in digital health.
These calls will assist startups, scale-ups, and SMEs in delivering advanced technology solutions that can bridge regional innovation gaps, enhance Europe’s global competitiveness, and ensure equal access to healthcare for all.
The project aims to streamline public procurement processes, share health data across regions, and provide online training programs.
The European Commission is providing significant financial support, with almost €20M allocated to the program, supporting 3-5 interregional innovation projects in digital health.
TGV 4 Plus Fund invests in Printler
TGV 4 Plus Fund invests in AI and blockchain-driven companies globally. This week, TGV 4 Plus Fund (TGV) announced a further $2M investment in Printler in the form of secondaries and a convertible note.
Printler is a Swedish creator platform that connects independent artists with art lovers.
By focusing on AI-driven matchmaking, Printler aims to make art effortless to sell and discover, empowering creators to monetise their art.
Resolution Therapeutics bags funding to develop treatments for inflammatory and fibrotic diseases
Resolution Therapeutics is a clinical-stage biopharmaceutical company focused on developing the regenerative potential of macrophage therapy for the treatment of inflammatory and fibrotic diseases.
Recently, the company raised £63.5M in a Series B financing round led by Syncona Ltd. Alongside the financing, Resolution also announces the appointment of Paul Sekhri as Chair of the Board of Directors.
The company will use the funds to advance its lead candidate — RTX001, an autologous, engineered, pro-regenerative macrophage cell therapy specifically designed to deliver transformative outcomes in patients with end-stage liver disease.
Qovoltis secured €45M to market its new smart charging station, the “Qobox mini”
Founded in 2019 by Ehsan Emami, Qovoltis specialises in intelligent recharging for electric vehicles.
The company designs, produces, installs, and manages recharging stations in France, aiming to optimise recharging and minimize the impact on the electricity network.
Qovoltis serves both individuals and businesses in their transition to electric mobility.
This week, the company raised €45M led by Épopée Gestion, alongside Andera Partners and Pâris Mouratoglou to accelerate its commercial development in the hotel and business sectors, as well as to market its new smart charging station, the “Qobox mini.”
21energy raised €1.12M to develop heating systems
21energy develops & distributes innovative heating systems based on high-performance computers for end and industrial customers.
The electricity that powers the heating systems is converted into both heat and income through ‘mining’ of bitcoins.
According to the company, the end customers earn ‘money with heating’ and effectively save heating costs and, when switching from oil or gas, a correspondingly large amount of carbon dioxide.
Recently, the company raised €1.12M from SOVECO GmbH in September 2024.
Lifted bags €3.5M funding for its soft skills training platform
Lifeed is a B2B soft skills training platform that offers organisations a digital development platform that measures and maximises human potential throughout the organisation.
By valuing all of their life skills, companies improve performance, increase retention, and enhance employee engagement.
The platform’s algorithms enable a personalised experience for each user, structured in three phases: discovery, activation, and measurement.
The mobile-first platform uses AI to create an immersive learning journey with a high completion rate (over 90 per cent), ensuring HR teams can quantitatively measure the results achieved in human potential development, useful for certifications and ESG reports.
Recently, the company secured €3.5M from Startup Relaunch Fund, managed by CDP Venture Capital SGR S.p.A, Opes Italia Sicaf Euveca, SEFEA Impact SGR, and Hungarian firm Impact Ventures.
DinMo raises €5M for its Customer Data Platform
DinMo aims to transform the Customer Data Platform industry by using cloud data infrastructure and AI-powered predictive analytics to help mid-market companies access and use customer data more effectively for smarter customer engagement strategies.’
Recently, the company raised €5M in additional funding to launch and grow its Composable Customer Data Platform (CDP) offering.
This new investment will fuel the company’s evolution from a data activation tool to a full-fledged, AI-powered composable CDP while continuing to offer its foundational Reverse ETL capabilities.
Soigne launched officially to help the next generation of restaurant staff
Based in Amsterdam, Soigne has officially announced the launch of its company with a mission to support the sustainable growth of restaurants.
Consequently, the company has developed a tool to attract, onboard, and retain the next generation of restaurant staff. The platform provides all the team data, documents, history, and more in a single place.
Polarium bags funding to develop energy storage solutions
Polarium develops energy storage solutions using lithium-ion battery technology for businesses in the telecom, commercial, industrial, and residential sectors worldwide.
Recently, the company raised SEK 500M from existing investors through the issuance of convertible preference shares. Investors, such as Vargas, AMF, Alecta, Stefan Jansson Global Invest, and RoosGruppen have participated in the new share issue.
Pluvion raises €1M for water management software
Pluvion (formerly Grimm Water Solutions) develops advanced software solutions for water management, aiming to enhance the efficiency and sustainability of water infrastructures through innovative technologies.
Their goal is to make technology accessible to all, regardless of size or budget, by providing affordable and user-friendly AI-powered solutions.
Recently, the company secured €1M in pre-seed financing from AI investor D11Z, the Start-up BW Seed Fund managed by MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, and kopa Ventures.