Billion-Dollar Raises: AI Infrastructure and Data Platforms
The week's largest rounds went to companies building the pipes that power AI and the web.
- Nscale raised $1.4B to expand its AI compute infrastructure, leading all announced rounds globally for the period.
- Oxylabs, a Vilnius-based data infrastructure platform, closed its first-ever external round at $130M (approximately €114M), backed by Warburg Pincus at a $3.6B valuation. The company had been fully bootstrapped since its founding in 2015, making this a notable strategic inflection point.
European Defence and Deep Tech: Growth-Stage Momentum
Europe's defence and science-led sectors attracted serious growth capital this week, continuing a trend visible across the continent's H1 2026 numbers.
- Kraken Technology Group, a London-based maritime defence company, raised approximately €153M ($175M) in a Series B led by Digital Transformation Capital Partners, with participation from the British Business Bank and the NATO Innovation Fund. The round values the company at roughly €874M, making it Europe's newest maritime defence unicorn.
- Proxima Fusion, a European fusion energy startup, landed €411M to advance its reactor development program.
Early and Seed Stage: Diagnostics and Fintech
Smaller rounds this week pointed to continued investor appetite for healthcare diagnostics and embedded financial tools.
- En Carta Diagnostics, a Paris-based deeptech startup building at-home molecular tests for Lyme disease and STIs, raised €5M in a first closing led by Blue Forest Ventures, with Ring Capital and several existing backers participating.
- Aria, also Paris-based, closed a €7M Series A extension led by 115K and simultaneously launched a €240M debt facility to scale its embedded invoice financing platform across Europe.
Consumer and Retail: Lab-Grown Diamonds
Not all capital this week flowed into infrastructure or defence.
- Aukera, an Indian lab-grown diamond brand, raised Rs 90 crore (approximately $11M) to fund new store openings, product design, and omnichannel expansion.
Broader Market Signals
A few macro data points framed the week's activity. Indian startups raised just $107M in the week of July 4 to 10, marking a second consecutive week of muted inflows despite continued interest in deeptech and AI. Meanwhile, UK startup funding posted its strongest first half since 2022, driven by AI, computing infrastructure, and science-led companies, though the recovery is concentrated in fewer but larger deals.
Taken together, Friday's announcements reinforce two durable patterns. First, the bulk of venture dollars continues to flow toward AI infrastructure and the hardware needed to run it, a theme that shows no sign of slowing as demand for compute compounds. Second, Europe is quietly building a distinct funding identity around defence technology and deep science, areas that were historically underfunded on the continent. The willingness of sovereign-linked backers such as the NATO Innovation Fund and the British Business Bank to co-invest alongside private capital suggests this is a structural shift rather than a cyclical bump. For founders outside these favored verticals, the environment remains selective.