Europe’s biggest success stories are continuing to put up bigger numbers. ICEYE became a decacorn, Isar Aerospace secured one of the largest rounds of the year, Lovable passed $500m ARR and Revolut is reportedly targeting a $115bn valuation. In the UK, Sovereign AI doubled the compute available to startups after receiving more than 200 applications requesting over 67 million GPU hours.
Let’s dive in.
💰 Funding rounds
Espoo-based ICEYE raised a €450m Series F at a valuation of over €10bn, with the total round exceeding €1bn including secondary share sales, to expand its sovereign intelligence capabilities and scale its global satellite network. Read more here.
Munich-based Isar Aerospace raised €270m in a Series D round to expand global operations and ramp up serial production of its Spectrum launch vehicle. Read more here.
France-based Alta Ares raised €50m to scale its AI-powered air defence platform and accelerate production, product development and international expansion. Read more here.
European fonio. ai raised $17m in a Seed round to expand its omnichannel AI platform for customer communications and support international growth. Read more here.
Helsinki-based Skyfora raised €6.5m to accelerate the deployment of its telecom-powered atmospheric sensing network and scale its weather data platform for forecasting and climate intelligence. Read more here.
London-based Zaro raised $5.1m in a pre-Seed round to develop its AI-native workspace connecting enterprise data, workflows and AI tools through a shared context layer. Read more here.
Vienna-based Invisible-Light Labs raised €1.5m pre-Seed to accelerate the commercialisation of its infrared analysis technology and develop new products. Read more here.
Prague-based Merchantee raised €1.8m to expand its marketplace intelligence platform across Europe and support additional e-commerce marketplaces. Read more here.
Belgium-based Duely raised €1.1m to expand its AI-native legal services platform for mergers and acquisitions across Europe. Read more here.
Finland-based Granarium Technologies raised over €1m in a pre-Seed round to commercialise renewable supercapacitors for grid stabilisation and industrial applications. Read more here.
UK-based Cordon Technologies raised £1m to accelerate the development and commercial rollout of its precision spraying system for farmers and growers. Read more here.
Finland-based Aavuus raised a pre-Seed round to build a global network of laser stations for tracking space debris and improving collision avoidance in low Earth orbit. Read more here.
🌱 Startup news
UK-founded Deliverance AI emerged from stealth with £6m ARR, more than 30 employees and six enterprise customers within three months of incorporation. Read more here.
Sweden-based Lovable surpassed $500m ARR, up more than 25% from $400m earlier this year, and revealed that 54.6% of its users are building a business while four out of five come from non-technical backgrounds. Read more here.
💡 Other news
London-based Revolut is considering a secondary share sale that could value the company at $115bn. Read more here.
UK-based Sovereign AI has doubled the compute available through the UK’s AI Research Resource for startups after receiving more than 200 applications requesting over 67 million GPU hours. Read more here.
📣 Fund news
Antwerp-based Pitchdrive closed a €60m Fund IV to back AI-native early-stage startups across Europe through its founder-led Co-founder Capital model. Read more here.
🎧 Podcasts
The Scaling Europe Podcast featured Johannes von Borries and Benjamin Erhart, General Partners at UVC Partners, on investing in early-stage deeptech companies across Europe. Listen here.
The Scaling Europe Podcast featured Michael Bajwa, CEO and Co-founder of Zaro, on how AI agents could reshape the next generation of software. Listen here.
The Scaling Europe Podcast featured Hadrien Canter, CEO and Co-founder of Alta Ares, on building European defence technology and the opportunity for Europe to strengthen its own defence ecosystem. Listen here.
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