Funding
As AI accelerates the creation of new software, fixing live systems has remained stubbornly manual. Phoebe’s AI agents continuously monitor and react to live system data, diagnosing emerging issues and generating code and infrastructure changes to resolve them. The company has announced $17 million in seed funding led by GV and Cherry Ventures and the public launch of their platform, which is already live with engineering teams from early access customers such as Trainline and PPRO.
Northern Gritstone has announced a combined £4 million seed round investment into the optical sensor startup PhovIR. Northern Gritstone is co-leading the investment alongside deeptech specialist SCVC, in what was an oversubscribed round.
Midas, a Turkish investment platform, has raised $80 million in its Series B funding round, the largest investment ever secured by a Turkish fintech company. This brings Midas’ total funding to date to more than $140 million.
Qunova Computing, a developer of software applications designed with the goal of bringing quantum advantage to the chemical, pharmaceutical, and industrial engineering sectors, has raised a $10 million Series A funding round.
Maven Capital Partners has invested £2.6 million in PowerPhotonic, a provider of precision optics for high-power laser systems.
Geospatial AI startup, EvaluateLocate, has completed a £300,000 seed investment round at a valuation of £2.75 million. The company is also simultaneously bringing to market its subscription app for the UK, the first territory in a planned global roll-out.
The Norrsken Foundation has announced that Norrsken Evolve has completed an oversubscribed first close of a €57 million fund. The fund will be spearheaded by three General Partners: Johan Attby, Alex Bakir, and Rebecka Löthman Rydå.
Innerworks, innovators of Synthetic Threat Intelligence, has announced the completion of a $4 million seed funding round to scale their platform approach to delivering the world’s most effective immune system for the internet, led by AlbionVC.
Better Medicine, a startup developing AI-powered diagnostic tools for radiology, has raised €1 million in a pre-seed funding round led by Soulmates Ventures, with participation from Specialist VC, UT Ventures, and several angel investors.
A Danish medtech startup behind a technology that accurately measures cardiorespiratory fitness (CRF) has just closed a €1.7 million funding round following expansion into several European markets.
Every founder knows the feeling. An investor update is looming. The numbers are solid (ish), the story feels messy, and you’ve rewritten the deck twelve times trying to make it all make sense.
July in European tech didn’t follow familiar playbooks. From polarising deal sizes and sector shakeups to grant funding stepping into the spotlight and regulators breaking seasonal patterns, the month revealed a handful of market anomalies that deserve a closer look.
Riva Money, the global payments firm using blockchain technology to streamline the movement of money, has raised a pre-seed round from Project A as well as angels from Revolut, Monzo, and J.P. Morgan. The $3 million round will be used to solve the persistent pain points of global money transfers.
New data from the British Business Bank’s Start Up Loans programme, which provides finance and support to start up and early-stage businesses, shows a year-on-year increase in the value of finance being accessed.
Belgian spacetech startup EDGX has closed a €2.3 million seed funding round to accelerate commercialisation of EDGX Sterna, a next generation Edge AI computer for satellites.
Three pioneering healthtech companies are set to accelerate their growth and market impact thanks to investment from STAC, Scotland’s accelerator for smart, connected, and deeptech startups.
Family offices worldwide manage about $10 trillion in wealth. According to a 2024 FVCA (Finnish Venture Capital Association) survey, the third largest allocator of capital to local (Finnish) venture firms (right behind national funds and pension funds) is family offices.
Tracelight, the UK-founded AI company making financial models easier to build and trust, has raised $3.6 million in seed funding.
Bisly, a provider of scalable, smart building automation solutions, has raised a €4.3 million funding round to expand its operations across Central and Western Europe.
QuamCore, a deeptech startup tackling quantum computing’s hardest scalability challenges, announced a $26 million Series A, bringing total funding to $35 million. The round was led by Sentinel Global, with participation from Arkin Capital, as well as existing investors Viola Ventures, Earth & Beyond Ventures, Surround Ventures, Rhodium, and Quantum Leap. The Israel Innovation Authority contributed a $4 million non-dilutive grant.
