We're moving the newsletter over to LinkedIn soon. Stay up to date with European tech and subscribe to Scaling Europe Daily on LinkedIn here.
Paris and New York-based Hugging Face, the open-source hub developers use to find and share AI models, is being bought by Nvidia for $12.9bn, nearly double the $7bn valuation it turned down earlier this year. Moss-based 1X Technologies is also in talks to sell a majority stake to SoftBank at a $6bn valuation, for the OpenAI-backed startup building NEO, a humanoid robot that folds laundry and makes coffee.
Let’s dive in.
💰 Funding rounds
Lausanne-based Adaptyv Bio raised €34.35m Series A to build automated lab for AI-driven protein design. Read more here.
Eindhoven-based VitalFluid raised €17.2m to scale plasma-activated water technology for sustainable crop protection. Read more here.
Stockholm-based Readily Diagnostics received €811k grant to develop point-of-care STI tests. Read more here.
🌱 Startup news
Stockholm-based Lovable acquires lovable.com domain after reaching $13bn valuation. Read more here.
London-based Jack & Jill raised minimum salary for engineers from £240k to £360k. Read more here.
💡 Other news
Elche-based PLD Space awarded €158.9m by ESA for European launcher development. Read more here.
🤝 M&A
Paris & New York-based Hugging Face acquired by Nvidia for $12.9bn. Read more here.
Norway-founded 1X Technologies acquired by SoftBank for $6bn. Read more here.
Subscribe to the weekly edition for the highlights here.