Large Rounds: Enterprise AI and Deep Tech Lead the Way
The biggest headline of the day belongs to the enterprise AI category, where former Palantir engineers closed a substantial Series A.
- Conduct (London): €51M ($60M) Series A, co-led by Index Ventures and ICONIQ, with participation from SAP. The company builds an AI operating system that helps enterprises understand and modify complex software systems including SAP, Salesforce, and Oracle.
- Solar Foods (Finland): €78M in grant and loan financing, comprising a €40M grant and a €38M loan package, to fund construction and commissioning of Factory 02, its commercial-scale protein production facility.
- CuspAI: Reported to be raising at a $2.6B valuation with backing that includes Jeff Bezos, according to published reports. Deal terms were not fully confirmed at time of writing.
Series A: Fintech, Healthtech, and Compliance
Mid-stage rounds spanned several verticals, with fintech compliance and healthcare seeing notable inflows.
- Vetic (India): $40M Series A led by Bessemer Venture Partners. The pet healthcare startup plans to expand its clinic network and enhance its technology platform.
- Flagright: $13M Series A led by Infinity Ventures, with participation from Sella Direct Ventures. The company provides an AI operating system for financial crime compliance.
- Kvasir Technologies (Denmark): €10M Series A led by European Energy, with participation from EIFO and Maersk. The biofuel startup will use proceeds to accelerate growth.
Seed Rounds: AI Security, Defence, and Climate
Seed activity was spread across defence technology, AI governance, procurement, and sustainability themes.
- NeuralTrust (Barcelona): €17M ($20M) Seed led by Alstin Capital, with participation from VentureFriends, Seaya, Kibo Ventures, and Banc Sabadell. The company secures and governs enterprise AI agents, and describes this as the largest cybersecurity Seed raised by an EU company to date.
- Comand AI (France): €32M raised from Blossom Capital and Saab. The battlefield software startup focuses on military decision-making tools.
- Warren (Belgium): €10M Seed led by Motive Ventures, with participation from F Capital. The Ghent-based fintech rethinks workplace pensions and financial coaching.
- Microamp (Warsaw): €7M to accelerate development of its Any-G mmWave AI-RAN Wireless Platform, supporting 5G and 6G network infrastructure. Funding came from the European Innovation Council and other sources.
- Soource (Bolzano): €3M Seed led by Vertis through its Venture 5 Scaleup fund. The procurement intelligence startup is targeting expansion across Italy and Europe.
- NexDash (Berlin): €3M pre-Series A from EIT Urban Mobility to electrify road freight logistics across Europe.
- PDKINEMATICS (Lithuania): €2M Seed co-led by Coinvest Capital and Iron Wolf Capital to scale manufacturing of precision guidance systems for UAVs.
Pre-Seed: Early Bets on Gaming and Creators
- Tryll: $1M pre-seed from Early Game Ventures to develop an on-device AI engine for video games, with the round valuing the company at $6M.
- Influish (India): Undisclosed pre-seed funding from the co-founder of Clovia and other angels to build out its creator monetisation platform.
Editorial Perspective
Today's deals reinforce two converging pressures shaping startup funding in mid-2026. First, enterprise AI infrastructure is attracting serious capital at the Series A stage, with investors willing to write large checks for teams that can demonstrate deep integration into legacy systems rather than simply layering models on top of them. Conduct and NeuralTrust both reflect this thesis from different angles, one focused on operating complex systems and the other on governing the agents running inside them. Second, European defence and climate categories continue to attract institutional backing, with governments and mission-driven funds filling gaps that traditional venture has been slow to address. The spread of round sizes today, from a $1M gaming pre-seed to a $78M grant package for food technology, also suggests that deployment activity across stages remains healthy heading into the second half of the year.