A huge day for AI infrastructure and defence, with Helsing nearing an $18bn valuation and Nscale securing €670m for its Norway data centre project. Quantinuum filed for a US IPO, Algorithmiq raised €18m and Cala emerged from stealth with its previously unannounced €7m pre-Seed.
Let’s dive in.
💰 Funding rounds
Munich-based defence AI company Helsing is closing in on a $1.2bn funding round that could value the company at nearly $18bn. Read more here.
London-based AI infrastructure company Nscale secured €670m financing to expand its AI data centre project in Narvik, Norway. Read more here.
Istanbul-based mobile gaming startup Grand Games raised $70m Series B to scale its hybrid casual games and expand internationally. Read more here.
Dutch nanophotonic imaging startup eyeo raised €40m Series A to scale its imaging and sensor technology for smartphones, XR devices and autonomous systems. Read more here.
London-based real assets AI startup Fifth Dimension raised €22m Series A to scale its decision intelligence platform for institutional investors and asset managers. Read more here.
Quantum software startup Algorithmiq raised €18m and moved its global headquarters from Helsinki to Milan to scale its quantum software platform for chemistry and life sciences. Read more here.
Bologna-based DeepTech startup Cellply secured €7.15m to scale its analytical tools for cancer immunotherapy and cell therapy development. Read more here.
Barcelona-based AI startup Cala revealed a previously unannounced €7m pre-Seed round while emerging from stealth with its verified knowledge graph platform for AI agents. Read more here.
Würzburg-based foodtech startup NanoStruct raised €2.6m Seed to scale its rapid bacteria detection platform for the food industry. Read more here.
🌱 Startup news
Manchester-based fintech infrastructure company Keel emerged from stealth with a profitable Banking-as-a-Service platform for fintechs and financial businesses. Read more here.
London-based Isomorphic Labs is reportedly raising more than $2bn from Thrive Capital and Alphabet to scale its AI drug discovery platform built on DeepMind’s AlphaFold technology. Read more here.
Cambridge-founded quantum company Quantinuum has filed for a US IPO reportedly targeting a valuation of up to $20bn as competition in quantum computing accelerates. Read more here.
💡 Other news
Lunar co-founder and CEO Ken Villum Klausen is stepping down after 11 years, with former Danske Bank and Saxo Bank executive Søren Kyhl set to take over in June. Read more here.
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