Mega-Rounds: AI and Biotech Lead the Pack
- Tenstorrent: raised $1.5B at a $6.2B valuation to scale open-weight AI chips and remain independent after earlier acquisition interest, with no single lead investor publicly named. (TechCrunch)
- Nouscom: closed an oversubscribed $135M (approximately 120M EUR) Series D to advance an off-the-shelf neoantigen-based cancer immunotherapy, co-led by M Ventures and Revelation Partners, with Angelini Ventures, the EIB, and Neva also joining.
Growth and Series B: Consumer AI and Healthcare
- Town: nabbed a unicorn valuation just four months after launch, raising $108M in a Series B co-led by Forerunner Ventures and Menlo Ventures for its AI assistant product.
- Even Healthcare: raised $50M in a Series B led by Khosla Ventures; the Bengaluru-based managed care company plans to open five new hospitals within six months.
Climate and Energy Tech
- Linkener: closed a 7.5M EUR round led by Klima Energy Transition Fund (Alantra's energy transition vehicle), with GoHub Ventures remaining a shareholder; the Valencia-based startup combines consumption metering, data analytics, and AI to optimize business energy management.
Electric Mobility
- NOVUS: secured a double-digit million EUR round led by 468 Capital to bring its lightweight electric Lightbike, the NOVUS One, from Germany to California.
Seed and Pre-Seed: European AI and Fintech
- Plinto: raised 2.9M EUR from People Ventures and Emblem to further develop its AI-powered financial transaction monitoring platform; the Copenhagen-based startup targets enterprise financial controls.
- Vessla: emerged from stealth with $3.3M in pre-seed funding led by Seedcamp, with participation from Inception Fund, Tiny VC, and operators from Lovable and OpenAI; the Stockholm startup builds an agentic operating system for real estate property management.
- Huppa: secured 1M EUR in pre-seed funding from a syndicate of Dutch founders and entrepreneurs including the founders of TicketSwap, Moneybird, and Revue; the Amsterdam company is building an all-in-one operating platform for class-based gyms and studios.
Government Contracts and MedTech
- Siloton: won a 9.98M EUR Innovate UK contract to accelerate development of its handheld retinal imaging system, making detection of retinal diseases more accessible outside clinical settings.
Fund Closes: Nordic Deeptech and Southern Europe
- Turbine Capital: closed its debut fund at 54M EUR to back early-stage Nordic deeptech startups, adding Mycronic as a new industrial investor alongside existing backers Saab, Scania, Volvo Cars, and Stena.
- Enzo Ventures: closed its second fund at 20M EUR to back pre-seed technology startups founded by Southern European entrepreneurs, with initial cheques ranging from 250K EUR upward.
Infrastructure Investment
- Zilch: the British payments unicorn committed 91M EUR to double its London office capacity with a move to a new Victoria headquarters, following a 150M EUR debt and equity raise in late 2025.
Trends and Editorial Take
Today's deals reveal a market pulling in two directions at once. At the top end, capital is concentrating rapidly: Tenstorrent's $1.5B round underscores that the infrastructure layer of AI remains a magnet for late-stage conviction bets, while Town's unicorn status at four months old signals that consumer AI assistants can attract growth capital at a pace that would have seemed unrealistic two years ago. Meanwhile, the volume of European pre-seed and seed activity, spanning Copenhagen, Stockholm, Amsterdam, and Valencia, suggests that early-stage conviction in climate tech, AI agents, and fintech has not cooled despite macro uncertainty. The cluster of Nordic fund closes from Turbine Capital and Enzo Ventures also points to a maturing regional ecosystem that is increasingly self-sustaining, rather than reliant on US or UK capital to validate its founders.