What a day in Europe, especially UK. Creator Fund closes $56m fund for European scientists, PhysicsX raises $300m, UK’s government launches £1.1bn AI hardware package & first sovereign frontier AI model is being built by Cosine. Revolut targets $115bn valuation and ElevenLabs expands. The rest of Europe shows up in funding rounds, German VC’s launch a forum and a playbook while Italian Bending Spoons file for IPO in the US.
Let’s dive in.
💰 Funding rounds
London-based PhysicsX raised $300m Series C at $2.4bn valuation to scale its AI models for engineering and hardware manufacturing. Read more here.
UK-based NewOrbit Space raised €16m to build commercial satellites designed for very low Earth orbit and expand next-generation space infrastructure. Read more here.
Berlin-based Galvany raised €10m seed to expand its turnkey heat pump operating platform and accelerate installation across Germany. Read more here.
Ghent-based Companion.energy raised €7.8m seed to expand its real-time energy management platform for large industrial and commercial enterprises. Read more here.
Budabest-based Volteum raised €2.5m to expand its electric and mixed fleet management platform across the UK, Benelux, DACH regions. Read more here.
London-based BeatpulseLabs raised $1.8m pre-seed to scale its AI training data platform for advanced multimodal models. Read more here.
London-based Wassist raised $1.1m pre-seed to scale its no-code AI WhatsApp commerce platform for brands. Read more here.
🌱 Startup news
Milan-based Bending Spoons filed to IPO in the US under the ticker BSP after surpassing $1bn in revenue last year, reporting $601m revenue Q1. Read more here.
AMD committed up to £2bn investment over 5 years to UK AI infrastructure with London-based Oriole Networks, to deploy large-scale AI system powered by pure photonic network. Read more here.
London-based ElevenLabs moves to larger London HQ, plans to double headcount, new Field CTO appointment and UK Government partnership to explore voice AI for public services. Read more here.
💡 Other news
UK Government announced £1.1bn AI hardware package to fund national AI supercomputer, next-generation chips, AI Hardware Innovation Programme and new skills support for engineers and chip designers. Read more here and get more insights from my interview here.
UK-based Cosine builds Lumen Sovereign, Britain’s first sovereign frontier AI model to build secure AI infrastructure for regulated industries. Read more here.
Revolut targets $115bn valuation in upcoming secondary share sale to provide liquidity for early investors and employees. Read more here.
German VC’s launched German Venture and Growth Forum, Venture & Growth Playbook to mobilise institutional capital and help build next generation of German growth companies. Read more here.
📣 Fund news
Kensington-based Creator Fund closed $56m to invest in European scientists across AI, DeepTech and BioTech before pitch deck stage. Read more here.
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