Eighteen months. That’s how long it took Freiburg-based Prior Labs to go from a €9m pre-seed round to a €1bn acquisition by SAP, and UK defence unicorn Cambridge Aerospace is in talks to raise $300m at a $3.4bn valuation.
Let’s dive in.
💰 Funding rounds
Grenoble-based ENGO raised €5.1m to scale its lightweight AR glasses with integrated displays for athletes, accelerating R&D on miniaturisation and innovation. Read more here.
Antwerp-based Sightera Biosciences raised €3m in pre-seed funding to advance its patient-derived AI drug discovery platform, training models on data from patients who do not respond to treatment to design new molecules for oncology. Read more here.
🌱 Startup news
Dublin-based ElevenLabs is opening its first Toronto office and doubling its Canadian team by end of 2026, expanding its AI voice and conversational AI platform with Max Lemmens appointed as general manager for Canada. Read more here.
Cambridge-based Cambridge Aerospace is in talks to raise $300m at a $3.4bn valuation to scale production of its Skyhammer drone interception systems with $140m in signed contracts and $5bn in pipeline. Read more here.
💡 Other news
London-based Revolut received a $196m investment from Nvidia’s venture capital arm through a secondary share sale at a $75bn valuation, with the fintech and chipmaker having an existing partnership using Nvidia’s technology for AI infrastructure. Read more here.
📣 Fund news
Pan-European venture capital firm Lakestar closed its I fund at €262.2m to back European defence and dual-use technology companies. Read more here.
Swedish-based EQT Life Sciences received a €25m commitment from the British Business Bank to support the EQT Health Economics 3 Fund targeting commercial-stage medtech, digital health and life sciences companies across the UK. Read more here.
🤝 M&A
SAP completed acquisition of Freiburg-based Prior Labs for €1bn to establish a frontier AI lab for tabular foundation models in business data. Read more here.
🎧 Podcasts
Scaling Europe Podcast featured Jacomo Corbo, CEO and Co-Founder of PhysicsX, on raising $300m Series C at a $2.4bn valuation to accelerate physics AI for industrial engineering and manufacturing. Listen here.
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