Large Raises: Series B and Above
The headline deal of the day came from the physical AI space.
- SiMa.ai raised $150M in a Series C round. The company plans to use the capital to scale its agentic AI platform and develop new hardware products.
- Balwaan Krishi, an Indian agricultural machinery maker, closed a Series B worth roughly $12M (Rs 100 Cr), led by First Bridge India Growth Fund Private Equity.
Fund Closes and Program Launches
Several institutional vehicles also made news, signaling continued appetite from limited partners across life sciences, deep tech, and emerging markets.
- Sofinnova Partners closed its oversubscribed Sofinnova MD Start IV fund at $90M (approximately 82M euros), targeting the creation of new MedTech companies in Europe. The fund builds on a strategy the Paris-based firm has run since 2008.
- Eureka! Venture launched Eureka! Fund II, a $22M (20M euro) early-stage vehicle focused on deep tech startups in Italy's Lazio region, anchored by Lazio Innova with a $18M (16M euro) commitment.
- Peak XV raised the ceiling on its Surge seed program to $5M per startup and unveiled a new 18-company cohort. Thirteen of the 18 startups target global markets, and more than half are India-based.
Growth-Stage European Raises
Europe produced several notable mid-tier rounds spanning AI infrastructure, compliance, and energy.
- Complaion, an Italian regulatory compliance platform for SMEs, raised $15M (approximately 13.5M euros) to expand its team and support international growth.
- Reactive Technologies, a London-based grid technology company, secured $21M (19M euros) in financing from the European Investment Bank to commercialize its GridVerix real-time grid measurement platform across Europe.
- Granite, a European agentic cloud infrastructure startup, raised $4M (approximately 4M euros) in a round led by Bifrost Studios.
Seed and Pre-Seed Activity
Earlier-stage activity was active across Europe and the United States.
- MAVI, a US accounting staffing startup emerging from stealth, raised $4M to address the new category of AI-era financial roles.
- DOD Solution, an Estonian-Ukrainian defense tech company, closed a $2M (1.8M euro) pre-seed round backed by Angel One Fund, Better Angle, Defence Builder Fund, Network VC, Newfund, UAID Fund, and WildField Ventures. The company's AURA platform provides onboard AI autonomy for unmanned systems and has been tested in active combat environments.
- Klang, a Swedish conversational AI startup based in Helsingborg, raised $1M (approximately 1.32M euros) led by angel investor Johan Lenander. The company simultaneously released an open speech-to-text model for the Swedish language.
- bilt.me, a Tallinn-based AI-native mobile app builder, raised $700K in a pre-seed round led by Superhero Capital, with participation from Bolt founder Markus Villig and Lightyear founder Martin Sokk.
Editorial Perspective
Today's deals reinforce two converging trends. First, the word "agentic" is doing real work in pitch decks and press releases alike, appearing across SiMa.ai's hardware ambitions, Granite's cloud infrastructure, and even Eureka! Venture's fund thesis. Investors are clearly pricing in a world where AI systems act, not just respond. Second, the strong showing from European seed and fund activity, anchored by institutional backers such as the EIB and Lazio Innova, suggests that public capital is increasingly willing to play a catalytic role where private venture appetite is still developing. The combination of sovereign and private capital may define European deep tech formation for the next several years.