Expanded rural broadband funding of £125M for GoFibre, departure of Valentin Stalf as CEO at N26, and Doncaster's unexpected rise as a quiescent AI center in the UK.
In the bustling landscape of technology and innovation, Europe continues to make strides, with several notable developments taking place recently.
Norrsken Evolve, a venture fund focused on impact tech, announced the launch of a €57M fund to support innovative projects that aim to make a positive impact on society.
Meanwhile, the Clean Growth Fund, an initiative aimed at promoting clean technologies, has managed to raise one-third of its £150M fund target.
Cyprus is emerging as a rising Mediterranean hub for tech and innovation, with numerous companies setting up shop on the island.
In the world of finance, Monzo is planning to launch a mobile service similar to Revolut and Klarna, while a digital bank is preparing to enter the UK market, targeting the Turkish diaspora.
Across the Atlantic, US quantum computing firm Strangeworks expanded its European presence with the acquisition of Quantagonia. Brex, a fintech company, is also aiming to expand into the EU market.
On the funding front, RedMimicry secured Seed funding to scale its cyberattack emulation platform, while WePositive.Energy secured €350,000 to tackle grid congestion with AI. Lignufy, a company focused on digitizing timber trade in Europe, received an investment of €40,000.
Midas, an investment app, secured $80M in Series B funding, marking the biggest fintech deal in Turkey. Turbine, a startup aiming to succeed in AI drug discovery, also secured funding.
Spintop Ventures strengthened its Nordic expansion with a new Danish office and Principal, and N26 co-founder Valentin Stalf resigned as CEO.
Visma, a Norwegian software company, strengthened its foothold in DACH with AI-driven acquisitions of milia.io and Taxy.io. Swiss chipmaker U-Blox is being acquired by Advent in a $1.3B deal.
In the UK, Seabound received a £1.1M grant from the government to expand connectivity in rural Scotland, and GoFibre received £125M in funding to do the same in other rural areas.
Loft Dynamics raised $24M Series B to redefine pilot training with VR simulators, and Meshed raised £950,000 for an AI insurance broker for SMEs.
Lastly, Doncaster, UK is an emerging AI hub, with several tech companies setting up shop in the area.
These developments highlight the vibrant and dynamic tech and innovation landscape in Europe, with numerous companies making significant strides in various sectors.
