European biotech saw a major exit to start the week, with Novartis agreeing to pay up to $1.5bn for London-based Myricx Bio, turning just $121m raised since 2019 into a big return. Paris-based Skello also raised a €200m growth round to expand its AI tools for frontline workforce management. In Stockholm, Klarna applied for a US banking licence to serve its 30m+ American customers directly instead of through partner banks, another sign of European fintechs pushing to compete directly with US banks.
Let’s dive in.
💰 Funding rounds
Paris-based Skello secured a €200m growth investment to accelerate its European expansion and AI tools for frontline workforce management. Read more here.
London-based Thought Machine landed £30m taking its total raised to an enlarged £80m, as annual revenue surpassed $100m for the first time. Read more here.
Bilbao-based Sherpa. ai raised $18m to accelerate its data-sovereign AI platform for regulated sectors including healthcare, finance and government. Read more here.
Helsinki-based CurifyLabs raised €12m Series A to expand its 3D printing-based medicine compounding platform into the US. Read more here.
Munich- and Coimbra-based alqem raised €8m pre-Seed to develop rare-earth-free permanent magnets using AI-driven materials discovery. Read more here.
Cambridge-based Worldmodeldata raised €8m Seed to turn video game data into training data for physical AI as it emerged from stealth. Read more here.
Cambridge-based TaiSan raised £4.65m Seed to develop solid-state sodium-ion batteries for e-bikes, scooters and power tools. Read more here.
Zurich-based Aylight raised €4.5m pre-Seed to build a laser chip that could remove the need for data centres to buy more lasers. Read more here.
London-based Stoa raised $2.4m pre-Seed to grow its cash management platform offering upfront rewards on cash deposits. Read more here.
Paris-based Rivage raised €1.5m to build AI-powered rental management software for French real estate agencies. Read more here.
💡 Other news
Stockholm-based Klarna applied for a US banking licence to serve its 30m+ US customers directly rather than through partner banks. Read more here.
🤝 M&A
London-based Myricx Bio got acquired by Novartis for up to $1.5b, after raising just $121m since 2019. Read more here.
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