Infrastructure and Deep Tech Lead the Way
The most significant funding announcement came from Nscale, which secured $790M in debt financing for its AI data center project in Norway. The London-based AI infrastructure company received commitments from major banks including ABN AMRO, DNB, Eksfin, Nordea, and SEB to develop what's reportedly the largest AI infrastructure project in Norway.
In quantum computing, Algorithmiq raised €18M in what's being called Italy's largest quantum VC round. The quantum software company relocated its global headquarters from Helsinki to Milan, with the round led by United Ventures and CDP Venture Capital, bringing total funding to €36M.
eyeo, a Dutch nanophotonic imaging company, closed a €40M Series A led by Innovation Industries to improve imaging and sensor performance technologies.
Series A Growth Rounds
Fifth Dimension secured €22M in Series A funding to scale its AI-powered decision intelligence platform for real assets investors. The London-based startup's round was led by HV Capital with participation from Prudence, Mercia, MMC, and AFG, bringing total funding to over €33.9M.
Adfin, a London fintech company, raised $18M in Series A funding led by Index Ventures to expand its AI-powered money movement and cashflow management platform for businesses.
Ditto, a Rotterdam-based healthtech startup, raised €7.6M led by Heal Capital to roll out its app that translates complex medical information into plain language across Europe. Optiverder and Rubio Impact Ventures also participated in the round.
Cellply, based in Bologna, secured €7.15M to develop analytical tools for faster immunotherapy and cell therapy development. The round was led by ENEA Tech e Biomedical with participation from existing shareholders.
Early-Stage Innovation
In the pre-seed category, Holmes, a Belgium-based startup automating software testing, launched with €1.1M in funding led by Syndicate One. The round included participation from Aikido founders and Showpad co-founder Louis Jonckheere.
NanoStruct, a Würzburg-based food safety startup, closed a €2.6M seed round led by High-Tech Gründerfonds to develop its platform for rapid identification of harmful bacteria in food.
Gaming and Mobile Entertainment
Grand Games raised $70M in Series B funding to scale its hybrid casual mobile games, bringing total funding to $103M. The mobile gaming company focuses on hybrid casual titles that blend elements of casual and mid-core gaming.
Other Notable Raises
Sindhuja Microcredit secured $5M in a pre-Series D round to strengthen its capital base and expand access to responsible credit for underserved communities in India.
Today's funding landscape demonstrates continued investor confidence in European deep tech and infrastructure plays, particularly those leveraging AI capabilities. The significant debt financing for Nscale's data center project signals institutional appetite for large-scale AI infrastructure investments, while the diversity of sectors - from quantum computing to food safety - shows the breadth of innovation across the continent. The movement of Algorithmiq's headquarters to Milan also highlights Italy's growing ambitions as a European tech hub.