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The post Weekly funding round-up! All of the European startup funding rounds we tracked this week (Jun 30 – Jul 04) appeared first on EU-Startups.

This week we tracked more than 85 tech funding deals worth over €3.1 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe. In addition to this week's top financials, we've also indexed the most important/industry-related news items you need to know about.

We also released our monthly report for June, which covers key investment trends, notable company activities, and emerging industry sectors.

If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox.

Either way, let's get you up to speed.

? Notable and big funding rounds

?? Propel Finance secures £1.5B in funding

?? Ferovinum drinks in £400M for worldwide expansion

?? Climeworks raises $162M

?? Talon.One raises €114.7M to scale its platform for promotions, loyalty and gamification

?? Genesis AI, which develops AI basic model for robotics, raises $105M seed funding

??‍?? Noteworthy acquisitions and mergers

?? Legaltech Clio acquires vLex in a $1B deal

??Open Cosmos acquires Connected in landmark European spacetech exit

?? Defencetech unicorn TEKEVER acquires Cocoon Experience to drive human-centric innovation

?? Core Optimisation acquires ClearStory to supercharge global expansion

? Interesting moves from investors

? GCP's Fund VI closes at £411M, a 58 per cent increase from Fund V

? Omnes Capital secures €112M first close for Omnes Real Tech 2, backed by EU defence mandate

? Nordic AI startups gain momentum with Alliance VC's €40M Fund

? EIFO invests $5M in Ukrainian defencetech Fund D3

?️ In other (important) news

?? Investor optimism ignites €6.5B funding rally for European tech in June

?? UK raises more H1 VC funding than Germany and France combined, new data reveals

?? Synthesia unveils new London global HQ, as CEO says it snagged $1.1M revenue in single day

? Alibaba.com launches $1 million competition open to European SMEs

♀️ “Stop censoring our bodies”: 190+ women's healthtech leaders demand action from big tech

? Oxx’s 2025 report reveals the next open source leaders in AI and developer tools

? Recommended reads and listens

?? Belfast femtech startup Joii brings medical-grade period tracking to the masses

? How Geomiq is rewiring custom manufacturing for speed and scale

?? Portugal in the spotlight: Europe’s rising tech star

? European tech startups to watch

?? Venta AI raises $2M to build Germany’s first AI sales employees

?? Beech Biotech awarded $1.9M Gates Foundation grant

?? Balthazar raises €1.8M to build OS for deeptech R&D labs

?? Arthos raises €625,000 and launches Mozart AI

?? Skarbe raises $600,000 to reinvent sales for founders who hate CRMs

?? Fuel Ventures backs Eventwise with £525,000 to modernise event budgeting

Alsendo, a Polish technology platform supporting shipping process management, announces its acquisition of Italian shipping platforms Spedire.com and SpedirePRO for €5.5 million.

This acquisition marks Alsendo’s first in Western Europe and a strategic step toward building a pan-European technology leader in logistics and e-commerce – made possible by the strategic support of Abris Capital Partners, which has been the company’s majority shareholder since 2020.

“At Alsendo, our ambition is to become Europe’s leading delivery management and shipping platform. That’s why we are steadily building our position in the logistics technology market.

“With the experience gained in the competitive markets of Central and Eastern Europe, we are ready to scale our model in Western Europe. Entering the Italian market confirms the effectiveness of this strategy, and our partnership with Spedire is just the beginning of our pan-European journey,” says Magdalena Magnuszewska, CEO of Alsendo.

Warsaw-based Alsendo focuses on delivering comprehensive solutions for optimising delivery and post-sales processes for all business customer segments. The group encompasses several technology-based shipping services (Apaczka, Sendit, Zaslat, Ecolet, Siusk24, Cargobooking) and offers DMS (Delivery Management System) solutions for delivery management tailored to major e-commerce players, led by the Innoship platform.

Alsendo’s logistics offering includes solutions tailored to marketplace platforms, integration with over 80 e-commerce systems, a single API integration with multiple courier companies, international services under the Alsendo International brand, and Alsendo Business Pro – an SaaS platform supporting logistics, marketing, and customer service for e-commerce.

Rovereto-based Spedire.com and SpedirePRO are innovative logistics solutions created by Esite, which has been operating in the market for over 10 years and handles more than 400,000 shipments per year. The platforms collaborate with leading carriers such as UPS, FedEx, InPost, and Poste Italiane, offering a comprehensive range of services – from pick-up and delivery point operations to cash-on-delivery and triangulated shipments.

Esite – developed in partnership with Triboo S.p.a – is one of Italy’s leading e-commerce and digital services groups and brings not only local expertise to the group, but also a technological backbone.

“The Italian market is still in the early stages of APM development, but its scale and the large number of international e-retailers (e.g. in the fashion and beauty industries) create ideal conditions for the further expansion of our digital solutions, such as Innoship and BusinessPro, along with our cross-border services. Spedire fits perfectly into our development vision,” adds Magnuszewska.

The acquisition is aligned with Alsendo’s buy-and-build strategy, aimed at consolidating the fragmented shipping solutions market and expanding cross-border services in Europe. It strengthens Alsendo’s position as a dynamic Polish tech companies operating in the logistics sector.

According to Alsendo, the Italian parcel market – with an annual volume of about 1.1 billion, similar to Poland – remains highly fragmented, particularly in the shipping platform segment. It is dominated by local players, with Poste Italiane holding the leading market share, and the logistics infrastructure is still developing, also driven by InPost’s launch in Italy in November 2024.

The share of PUDO points and parcel lockers remains significantly lower than in CEE. Additionally, Italy shows a relatively high penetration of international shipments – around 13.5% – indicating solid demand for cross-border services, which are a core pillar of Alsendo’s technology-driven expansion.

“Joining Alsendo Group is a natural step in our evolution. In recent years, we’ve focused on technological innovation and broadening our range of services. Now, by becoming part of a larger group with international expertise, we’re in a stronger position to scale our business, strengthen our presence in the Italian market, and offer even greater value to our customers – especially business clients who rely on advanced, reliable shipping solutions,” adds Luca Lorenzini, CEO and founder of Spedire.com e SpedirePRO.

The post Warsaw-based Alsendo expands into Western Europe with the acquisition of Italian shipping platform Spedire.com appeared first on EU-Startups.

Cleantech energy storage startup RheEnergise has secured a 2.5 million grant from the European Innovation Council (EIC) Accelerator to support the company’s R&D work.  

RheEnergise is developing an innovative long-duration energy storage technology called High‑Density Hydr (HD Hydro). At times of low energy demand, the High-Density Fluid is pumped uphill between storage tanks buried and connected by underground pipes. 

As energy prices rise, non-corrosive fluid is released downhill and passes through turbines, generating electricity to supply power to the grid.  

Projects will range from 10 MW to 100 MW of power and can work with vertical elevations as low as 100 metres or less. It means that, unlike conventional pumped hydro energy storage, a RheEnergise HD Hydro system can operate beneath small hills rather than mountains; the system requires 2.5 times less vertical elevation. It also means that there are many more sites suitable for RheEnergise projects – in the UK and worldwide. 

Stephen Crosher, Chief Executive of RheEnergise, said: 

“The receipt of the EIC Accelerator grant is hugely welcome, as the EIC acknowledges the quality of our R&D to date, and the commercial prospects for our LDES technology to be deployed.  

With the start of pumping of our High-Density Fluid soon to commence at our demonstrator energy storage plant on the outskirts of Plymouth, and the encouraging global interest that is being shown in our LDES technology, we are in a strong position to be one of the UK’s leading green energy unicorns.”

The LDES demonstrator, at Cornwood near Plymouth, Devon, has received financial support from the UK Department of Energy Security & Net Zero.  RheEnergise has agreements in place to deploy its technology in the UK, South America, Australia and mainland Europe. 

The grant award coincides with the start of RheEnergise’s investment roadshow in Canada.

In June, European tech companies raised a total of €6.5 billion across 323 deals, an 18 per cent increase from May’s €5.5 billion and 341 deals. 
The UK continued to lead the charge, raising €1.8 billion in June, up from €1.4 billion in May. By consistently raising the highest funding volumes, the UK is poised to remain a central hub for tech investment, particularly in fintech and AI.

June saw fintech take centre stage, though with a lower total of €957.1 million, suggesting a broader but slightly shallower interest in the sector.

Jon Ferguson, Partner at AshGrove Capital, commented on the June numbers within the European tech investment landscape in our June Tech.eu Pulse, a compact version of the monthly report:

While conditions remain selective, capital is still flowing to companies with strong fundamentals and a clear path to profitability. At AshGrove, we focus on B2B software and services businesses that sit at the heart of how enterprises operate. These sectors continue to attract capital due to their 
recurring revenues, strong unit economics and ability to scale efficiently.

We contiue to back businesses with clear purpose, strong customer traction nd disciplined growth. These are the companies building essential tools for modern enterprise - and doing so with focus, ambition and real staying power.

For his more detailed review and more in-depth analyses of the European tech ecosystem, including industry and country performance, exit activities, and more, check out our June report.

Here are the 10 largest tech deals in Europe from June, accounting for approximately 52 per cent of the month’s total funding.

Amount raised: $1B Nebius is a cloud platform that provides scalable, secure infrastructure, advanced AI tools, and data services tailored for developers, startups, and enterprises. Designed to meet the demands of modern, high-performance computing, Nebius offers solutions ranging from virtual machines and object storage to powerful AI training environments. The platform emphasizes data sovereignty, reliability, and flexibility, making it a trusted partner for organizations operating in regulated industries or seeking full control over their cloud architecture. In June, Nebius secured $1 billion for AI cloud platform development.

Amount raised: €600M Helsing is a defence AI company that builds cutting-edge software to enhance the capabilities of democratic nations. Its real-time AI-powered systems process data from sensors across land, sea, air, and cyber domains to support military decision-making and operational effectiveness. With a mission to protect democratic values, Helsing partners with governments and industry to develop secure, sovereign technologies that strengthen national defence. Helsing has raised €600 million, more than doubling its valuation to €12 billion.

Amount raised: £400M Ferovinum is a fintech platform that provides flexible, asset-backed financing for the wine and spirits industry. By unlocking the value of maturing inventory, Ferovinum helps producers, distributors, and merchants access working capital and grow without sacrificing equity. The platform combines industry expertise with digital infrastructure to offer tailored financial solutions backed by physical assets such as wine, spirits, and duty-suspended stock. The company secured £400 million to expand its existing UK service offerings to businesses in the US and EU, as well as Australia, later this year.

Amount raised: £300M Believ is a UK-based electric vehicle (EV) charging infrastructure provider focused on delivering reliable, accessible, and affordable on-street charging solutions. Partnering with local authorities and businesses, Believ installs and manages EV charging networks to support the transition to sustainable transport and help decarbonise communities across the UK. Believ secured a £300 million investment facility to install at least 30,000 charge points, boosting access to public EV charging across the UK.

Amount raised: £300M Carmoola is a fintech transforming the car finance experience through a fully digital, app-based platform. Designed to put consumers in control, Carmoola allows users to get approved for finance in minutes, set their budget, and pay for a car instantly, whether buying from a dealership or online marketplace. The platform removes traditional friction from the financing process by eliminating paperwork, hidden fees, and delays. Carmoola completed a £300 million private asset-backed securities (ABS) facility to expand its car finance offering.

Amount raised: €189M Multiverse Computing is a deeptech company specialising in quantum and quantum-inspired software for finance, energy, mobility, and manufacturing sectors. Its flagship product, Singularity, enables enterprises to solve complex problems using quantum algorithms on classical and quantum hardware. By making quantum computing accessible and practical, Multiverse helps businesses unlock powerful optimizations and insights beyond the reach of traditional methods. The company has raised €189 million in Series B to accelerate the widespread adoption of LLMs to address the massive costs that currently prohibit their rollout.

Amount raised: $200M Polestar is an electric performance car brand focused on design, innovation, and sustainability. Backed by Volvo Cars and Geely, Polestar develops cutting-edge electric vehicles that combine advanced technology with minimalist Scandinavian design. With a commitment to transparency and climate neutrality, the company aims to lead the shift toward sustainable mobility through high-performance, zero-emission driving experiences. The company secured $200 million, which will be used for working capital requirements and general corporate purposes.

Amount raised: €155M Scalable Capital is a digital investment platform offering easy, affordable access to investing and wealth management. The platform provides commission-free trading, automated portfolios, and savings plans, empowering users to grow their wealth through ETFs, stocks, and funds. Scalable Capital combines advanced technology with strong financial expertise to make investing simple and accessible for everyone. The company has successfully closed a funding round, raising €155 million.

Amount raised: €150M Isar Aerospace is a space-tech company developing cost-efficient, flexible, and sustainable launch solutions for small and medium-sized satellites. With its proprietary launch vehicles, the company enables satellite operators to access space independently and reliably. Isar Aerospace aims to become Europe’s leading commercial launch provider, supporting innovation, connectivity, and global sustainability through space access. The company secured €150 million to scale its affordable launch services worldwide and strengthen Europe’s independent access to space.

Amount raised: €130M Proxima Fusion is a deeptech startup developing next-generation fusion power plants based on stellarator technology. Spun out of the Max Planck Institute for Plasma Physics, the company aims to deliver clean, safe, and virtually limitless energy by advancing the most stable and efficient fusion reactor design. Proxima Fusion combines cutting-edge physics, AI, and high-performance computing to accelerate the path to commercial fusion energy. The company raised €130 million in a Series A round, bringing its total funding to over €185 million. This will accelerate Proxima Fusion’s mission to develop the world’s first commercial fusion power plant using stellarator technology.

On Independence Day, the 4 July 1962, President John F. Kennedy declared, “The United States looks on a strong, united Europe not as a rival but as a partner.” More than six decades later, with growing divergence on issues such as trade, security and other geopolitical challenges, this transatlantic relationship faces unprecedented strain. The race to lead in artificial intelligence (AI) is no exception. 

At the AI Action Summit in Paris in February, while the US Vice President JD Vance warned the EU against regulation, European Commission President Ursula von der Leyen unveiled a bold plan to position the EU as a global AI leader, declaring, “Global leadership is still up for grabs.” Yet, Europe still has a long way to go.  

Global ambitions, uneven investment

The US remains the epicentre of AI innovation and is home to tech giants like Google, Meta, Microsoft, and Nvidia. Following his return to office, President Donald Trump announced a $500 billion AI investment plan and swiftly repealed former President Biden’s Executive Order on Safe AI. His “Big Beautiful Bill” had originally included a proposed ban on artificial intelligence regulations at the state level for the next ten years; however, the Senate unanimously voted this measure down on Tuesday. 

Our nearest neighbour, the UK, has also declared its ambition to lead globally on AI, with a bold tagline “AI Maker, not AI Taker”, adopting a pro-innovation and light-touch regulation approach, as part of its £2bn AI Opportunities Action Plan. 

Meanwhile, China aims to be the global leader in AI by 2030, with a focus on digital independence, computing efficiency and specific AI regulation. Research from the World Economic Forum predicts that the country’s AI industry and related sectors could grow into a market valued at $1.4 trillion by 2030. China is also home to 47% of the world’s top AI researchers and provides government-backed programmes encouraging students to pursue AI-related education.

Ireland’s opportunity: Europe’s challenge

Ireland’s AI story is compelling. With deep tech talent, a robust multinational presence and strong global reach, Ireland’s AI market is expected to hit €1.18 billion this year. By 2035, AI could contribute €250 billion to Irish GDP and potentially €60 billion more, depending on how government, industry and businesses embrace its potential. To support this opportunity, the Irish Government has created an AI Advisory Council to provide independent guidance on AI policy.

The EU has stated its goal is to promote AI innovation, which is reinforced by robust regulation. The EU’s AI Act is the world’s first comprehensive legal framework to regulate AI in the public interest and places the EU firmly as the leader in global AI governance. As part of the AI Action Continent Plan, the EU has pledged to build 13 AI factories, 5 gigafactories, and a €200 billion investment to accelerate AI adoption across the continent.

However, despite its big ambition, the EU still lags behind: 17 of the top 20 AI companies are American, and 70% of foundational models originate in the US. 61% of global funding flows through US firms and only 6% to their European counterparts. European firms also account for just 7% of global software R&D spending, compared to 71% in the US and 15% in China. The EU cannot lead if it is being outspent ten to one; greater investment is crucial to leverage homegrown AI innovation. 

Between 2018 and the third quarter of 2023, almost €32.5 billion was invested in EU AI companies, compared with more than €120 billion in US AI companies. Recent investments in US AI companies (e.g. OpenAI and Anthropic) have further widened the gap between the EU’s and the US’s relative share of private investment in AI.

What must the EU do next to become an AI leader?

1. Improve digital infrastructure: The EU must work towards digital independence and infrastructure improvement. Europe’s largest cloud provider, OVHcloud, holds a mere 2% of the market. Over 80% of Europe’s digital infrastructure is imported from outside the bloc; this high level of dependency on non-European-based tech companies poses several security and economic concerns for the EU.
2. Unlock more capital for scaling: As outlined in the Draghi and Letta reports, for AI companies to scale and grow, the EU must expand venture capital through deepening the Saving and Investments Union (SIU) and to continue to promote an independent digital ecosystem that empowers European startups to grow at home, whether that’s in Dublin or Paris, and not flee to Silicon Valley or Shenzhen. Europe-based AI start-ups represented over a third of global M&A activity in 2024, mainly acquired or relocated by US firms. 
3. Attract and retain top talent: While EU initiatives like Horizon Europe and Digital Europe, with specific allocations for AI research and innovation, are positive steps forward, we must also attract and retain global talent. The EU can do this by streamlining visa pathways and the creation of prestigious EU-wide fellowships, alongside stronger academic-industry collaboration, akin to US models, with examples such as MIT–Google partnerships. Initiatives like these will be key to keeping Europe’s brightest minds right here in Europe.
4. Close the digital skills gap: Crucial to the EU’s success as a global leader in AI is education. Currently, 44% of adults lack basic digital skills; addressing this skills gap and investing in AI-related education will be vital for the future European economy. According to PwC’s 2025 Global AI Jobs Barometer, jobs requiring AI skills now command a 56% wage premium, underscoring the urgency of preparing Europe’s workforce for an AI-driven future.

A turning point for Europe

Strengthening Europe’s AI ecosystem is not just about investment or regulation; it is about vision and urgency. The EU must stand firm in its commitment to ethical AI, while scaling innovation across a market of nearly 450 million people.

There is pressure building to water down parts of the AI Act. European Commission technology chief Henna Virkkunen recently suggested the EU “should not rule out postponing some parts of the AI Act.” At present, we are also awaiting a crucial announcement from President Trump regarding trade tariffs, with fears of a global recession on the horizon. As tariff negotiations continue, there are concerns that the EU may water down its digital regulation commitments, including AI laws.

As we reflect on over 100 years of Ireland–US diplomatic relations, the EU must make a choice. AI will shape the next generation of jobs, industries and power structures. Europe cannot afford to wait. It must lead, invest and believe in its own potential.

The post Can Europe catch up? Why the EU is still behind in the global AI race appeared first on EU-Startups.

EIFO, the Export and Investment Fund of Denmark, announces an investment of US$5 million into D3, a defence technology venture fund with a strong presence and track record in Ukraine. 

D3 was established in 2023 by Eveline Buchatskiy, Anton Verkhovodov and Elya Chiechienieva to fund innovative founders in defence tech who can help protect Ukraine and strengthen the security in Europe. 

The Fund's strategy involves investing in Pre-Seed and Seed-stage defence technology companies located in Ukraine and allied countries. The fund aims to invest in over 30 early-stage startups within a short period of time, with an already proven track record of more than 700 screenings and 16 investments, including co-investors such as top VC funds Sequoia Capital, a16z, and Lux Capital. 

Further, D3 acts as a bridge between Ukraine, with its growing expertise in asymmetric defence and related technologies, and its Allies, connecting startups with the capital and partnerships needed to scale frontier technologies. 

The partnership between D3 and EIFO will have additional benefits for Denmark, opening doors for Danish companies to access new technology, knowledge, and partnerships. 

As the first state-backed fund to invest in D3, EIFO has demonstrated a continued commitment to Ukraine’s defence, in alignment with its mandate to support Danish and European supply chains for the green transition, defence and technology. 

Alongside this latest investment in D3, EIFO is operating a guarantee scheme for investments into Ukraine’s defence industry with a total budget of DKK 1 billion ($157 million), and has secured financing for developments including the construction of Ukraine's largest ever wind energy project. 

 Peder Lundquist, CEO at EIFO, commented: 

“Our investment in D3 underscores EIFO’s strategic objectives to support  Ukraine, strengthen the Danish defence industry, and bolster European defence capabilities. In partnership with D3, we are providing equity to defence and security startups in Ukraine, receiving vital combat-proven technology in return. 

D3  is one of the most insightful, active and effective defence-focused investors in Europe, and we are proud to be  partnering with this dedicated team.” 

According to Morten Bødskov, the Danish Minister for Industry, Business and Financial Affairs, Denmark stands side by side with Ukraine in their fight for freedom. 

“We demonstrate this unwavering support once again with the investment into D3. This not only supports Ukraine's heroic defence of their country and their freedom,  but it is also an investment in European security. 

At the same time, EIFO opens the door for Danish companies to access new technology, knowledge, and partnerships. It is an investment in the defence industry of the future, where  innovation and collaboration across borders are crucial for both security and growth."

According to founding and managing partner at D3, Eveline Buchatskiy, Denmark has shown bold leadership in understanding how Ukraine fights – and how critical technology is to win. 

“As a state-owned fund, EIFO’s backing signals Europe’s growing recognition that combat-proven innovation from Ukraine is vital to our collective defence. This is more than solidarity – it’s building the tech backbone of a resilient, democratic Europe.” 

Ukrainian Minister of Strategic Industries, Herman Smetanin, said: 

"This is not only a contribution to Ukraine’s security, but to the shared capacity of the democratic world to respond to emerging threats. Ukrainian engineers and entrepreneurs have proven their ability to deliver breakthrough solutions, and with Denmark’s support, we can now scale these innovations for the benefit of  the entire Euro-Atlantic community." 

Lead image: Ailand Systems smart autonomous drone ( a portfolio company of D3)

Massive Dynamic, a French startup building an AI-native suite for digital marketing, announced that it raised a €3 million pre-Seed round to accelerate the development of its product and expand the engineering team.

The funding round was led by Seedcamp with support from Founders Future, Tiny Supercomputer Investment Company, Purple, OPRTRS Club, New Renaissance Ventures, and Kima Ventures.

“We’re transforming digital marketing teams that manage tens of millions in spend into teams that can effectively orchestrate hundreds of millions,” said Trystan Chabert, Co-founder and CEO of Massive Dynamic. “By automating the 80% of work that’s purely operational, we free​expert operators to focus on strategy, creativity, and unlocking new growth opportunities that were previously too labor-intensive to be profitable.”

Founded in 2025 by Trystan Chabert, previously Head of Growth at Voodoo, and Guillaume le Roy, previously Head of Engineering at Qonto, Massive Dynamic combines technical expertise with experience in digital marketing. The team believes that while AI has already transformed aspects of marketing such as targeting and content creation, the orchestration layer remaines largely manual and inefficient.

Massive Dynamic is an AI orchestration layer for global advertising. The company’s domain-specific AI augments digital marketing teams at companies managing complex, multi-million euro advertising budgets across numerous channels and international markets.

Sia Houchangnia, Partner at Seedcamp, added: “The shift from manual to AI-powered marketing operations represents a generational opportunity. Massive Dynamic’s vision of professional-class AI for digital marketers – combining general intelligence with deep domain expertise – positions them to capture this massive market transformation. We’re thrilled to support the team as they build the future of marketing technology.”

Today’s leading advertisers manage thousands of campaigns across a complex and growing landscape of digital platforms. This creates an immense operational burden, with operators spending countless hours manually optimising bids, aggregating performance data, testing creative variations.

Massive Dynamic believes this manual workload not only leads to inefficiency and errors but also caps marketing performance by limiting the speed and scale of optimisation.

The company aims to solve this with an AI suite that acts as a force multiplier for the digital marketing teams of enterprise advertisers. These tools range from a general-purpose AI assistant that accesses real-time advertising context to specialised agents for domain specific workflows, such as ad management or campaign optimisation.

The solution is already deployed with a select group of early design partners, including leading global scale-ups.

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Ghent-based NineID, a platform that helps companies manage external contractors, has raised €3.5 million in funding to strengthen their presence across the European market.

The round was led by tech fund Pitchdrive with additional participation from returning investor Entourage and investment firm Aconterra.

“Some businesses work with thousands of external contractors each year,” says Roy Jeunen, CEO of NineID. “To handle that volume, they often rely on large admin teams. Our platform takes that repetitive work off their hands. With NineID, verification usually takes just twenty seconds per person.”

NineID was founded in 2020 after the team realised how much time was lost managing the admin around external workers. According to the company, site managers often need to manually check whether contractors have the correct documents before allowing them on site, which quickly adds up.

Drawing on their experience in the maritime and offshore sectors, Founders Roy Jeunen and Frederik Keysers built NineID as a tool for efficient contractor management. Through a secure portal, external workers such as technicians, service providers and maintenance crews can upload their documentation into a centralised database.

“Our solution gives companies visibility and control,” says Roy Jeunen. “It is essential to know exactly who is working for you and whether that person has the right paperwork. This is not only about compliance, but also about preventing fraud and avoiding illegal employment. In today’s geopolitical context, workplace security has become more important than ever. Knowing who is on site plays a key role in that.”

On average, technical profiles must submit around eight different documents, including ID, safety certifications and social security details. Companies themselves also need to meet several compliance standards such as ISO certification, insurance and safety records. Processing, checking and storing each of these documents takes about five minutes. In practice, project managers can lose up to 40 minutes per contractor just on paperwork – as per comments made by NineID.

“What used to be a mountain of admin is now a streamlined process that takes just 20 seconds per person,” says the company.

The AI engine behind NineID scans and processes the information automatically. Project leads can then check compliance in a clean dashboard within seconds. The platform helps reduce human error while making sure all external workers meet company and legal requirements.

“With the new chain liability regulations coming into effect in Belgium and across Europe from 2026, NineID’s platform becomes essential for companies looking to avoid hefty fines. The massive time savings, combined with full transparency and rock-solid compliance, make NineID an absolute no-brainer. We’re proud to support this breakthrough as lead investor,” says Boris Bogaert, Founder of Pitchdrive.

Today, NineID is used by more than forty multinationals including BASF, Alpro and Pfizer. The company now supports over 87,000 users, with more than 10,000 contractor check-ins taking place every day. Since its launch, NineID has reportedly completed over 2.4 million verifications.

In 2023, NineID raised €2.4 million from investors including Pitchdrive, Entourage, Comate and several prominent business angels such as the founders of Showpad, Drupal and Silverfin.

“With the right team and efficient operations, you can go a very long way,” says Frederik Keysers, Co-founder of NineID. “Our mission is clear. We want to make the management of external workers across Europe as transparent, compliant and secure as possible. We are one of the few contractor platforms with deep experience in the European regulatory landscape. Thanks to NineID, companies can now confidently work across borders with teams from different nationalities, all in full compliance with European law.”

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Baden-based Crosstown H2R AG closed a further €2.5 million in Seed funding to  accelerate the deployment of Crosstown’s H2R Burner technology, which reportedly enables gas turbines to convert to zero-carbon operation and run on 100% renewable fuels like hydrogen.

Participating in this round were 2100 Ventures, Climate Insiders, and Unruly Capital and SDAC. Existing investors and supporters include CiRi, Voyagers and the Swiss Federal Office of Energy (SFoE).

“We’re grateful for the visionary support of European ClimateTech investors who share our mission: eliminating CO₂ emissions from the gas turbine sector while unlocking new value for existing infrastructure,” said S. Manoj Harasgama, Founder and Co-CEO of Crosstown. “By repurposing billions of dollars in gas infrastructure and preventing them from becoming costly stranded assets, we’re not only driving decarbonisation – we’re also reinforcing Europe’s energy sovereignty, resilience, and long-term competitiveness. This funding allows us to accelerate our go-to-market via our sales partnerships and expand our product portfolio to be applicable for 1000s of turbines globally.”

Crosstown H2R AG is a ClimateTech company established in 2022 by S. Manoj Harasgama and Prith Harasgama, combined with global industry veterans in the gas turbine sector. Its mission is to “fast track humanity’s evolution to sustainable power generation by delivering disruptive destination technologies with transitional capabilities” that can be applied today.

Manoj has built, scaled and exited multiple high-growth startups (e.g. Treatwell.com, JOIN.com, Movu.ch), whereas Prith and the technical team member’s involvement have developed dozens of gas turbines (at ABB, Alstom, GE, MANTurbo, Doosan, etc.) globally and across the entire value chain of the industry over the last 3 decades.

Crosstown’s key product delivers proprietary burner technology for gas turbine decarbonisation and NOx reduction, the tech is patented by the EPO as of 2025.

The fresh funding will accelerate the deployment of Crosstown’s H2R Burner technology, which allegedly enables gas turbines to convert to zero-carbon operation and run on 100% renewable fuels like hydrogen. Just one single 100MW turbine retrofitted with Crosstown’s burner can reportedly eliminate over 300,000+ tons of CO₂ emissions annually.

This technology also gives operators the transitional multi-fuel capability to run on any level of the spectrum from 100% natural gas to 100% zero carbon fuels. Regardless of fuel-mix the company says their technology immediately reduces NOx emissions by up to 85% and ultimately provides the tech to eliminate 100% of CO₂ emissions giving operators an end-game zero-carbon solution with transitional capabilities all-in-one technology.

With the fresh funding, Crosstown will adapt its multi-platform technology to expand its product portfolio to support even more turbine types and additional turbine platforms, including Rolls-Royce, GE, Siemens, ABB and more.

The company is also establishing further sales-partnerships with Independent Service Providers (ISPs) and Original Equipment Manufacturers (OEMs).

“Crosstown has the leading technology to establish itself further as the leading option for the decarbonisation of gas turbines across all OEMs. With gigatons of CO₂ emitted annually, gas turbines belong to the biggest offenders of CO₂ emissions globally”, said Andrea Casasco, Founding Partner and investor at 2100Ventures. “The 2100 team is excited to be backing this experienced team who, have defined the gas turbine landscape with dozens of patents over 3 decades and therefore is pre-destined to clean it up now.”

With Europe seeking to reduce its dependence on fossil fuels, Crosstown’s technology extends the lifespan of existing gas turbines and gas power plants and future proofs them, looking to ensure reliable, low-carbon energy for decades.

By enabling gas turbines to be zero carbon capable, it complements intermittent renewables like wind and solar with a true baseload solution, providing grid stability and potentially saving thousands of gas turbines and supporting infrastructure from becoming useless and costly stranded assets.

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Zurich-based Crosstown has secured an additional $3 million in seed funding to accelerate the rollout of its H2R® Burner technology. This innovation allows existing gas turbines to operate on 100 per cent renewable fuels like hydrogen, enabling zero-carbon performance without the need to replace entire turbine systems.

Crosstown’s proprietary H2R® Burner offers a faster, more affordable path to meeting carbon and emissions regulations, cutting costs and installation time compared to full system replacements. With its ability to upgrade existing infrastructure, Crosstown provides a practical, scalable solution for gas turbine operators facing growing environmental pressures.

Already working with major industry players like Sulzer and Fortum, Crosstown is helping to drive the transition toward clean, independent energy. A single 100MW turbine fitted with its burner can eliminate over 300,000 tons of CO₂ annually. With tens of thousands of gas turbines currently in operation, the potential climate impact is massive. Crosstown offers operators a flexible path to zero carbon, whether switching immediately or transitioning over time, with one future-ready technology.

S. Manoj Harasgama, founder and Co-CEO of Crosstown, shared:

We’re grateful for the visionary support of European ClimateTech investors who share our mission: eliminating CO₂ emissions from the gas turbine sector while unlocking new value for existing infrastructure. 

By repurposing billions of dollars in gas infrastructure and preventing them from becoming costly stranded assets, we’re not only driving decarbonization — we’re also reinforcing Europe’s energy sovereignty, resilience, and long-term competitiveness. This funding allows us to accelerate our go-to-market via our sales partnerships and expand our product portfolio to be applicable for 1000s of turbines globally.

In March 2025, Crosstown secured a groundbreaking patent from the European Patent Office (EPO) for its inventive burner technology, which allows gas turbine operators to shift 100 per cent to zero carbon fuels.

This revolutionary technology also gives operators the transitional multi-fuel capability to run on any level of the spectrum from 100 per cent natural gas to 100 per cent zero-carbon fuels. Regardless of fuel mix, the technology immediately radically reduces NOx emissions by up to 85 per cent and ultimately provides the tech to eliminate 100 per cent of CO₂ emissions, giving operators an end-game zero-carbon solution with transitional capabilities all-in-one technology.

This patent reinforces Crosstown's leadership in the transition of gas turbines to zero-carbon operation, which has sparked further industry interest.

The round saw participation from 2100Ventures, Climate Insiders, Unruly Capitaland SDAC as well as existing investors and supporters like CiRi, Voyagers and the Swiss Federal Office of Energy (SFoE).

Andrea Casasco, Founding Partner and investor at 2100Ventures, said:

Crosstown has the leading technology to establish itself further as the leading option for the decarbonisation of gas turbines across all OEMs. With gigatons of CO₂ emitted annually, gas turbines belong to the biggest offenders of CO₂ emissions globally.

The 2100 team is excited to be backing this experienced team, who have defined the gas turbine landscape with dozens of patents over 3 decades and therefore is pre-destined to clean it up now.

With Europe seeking to reduce its dependence on fossil fuels, Crosstown’s technology extends the lifespan of existing gas turbines and gas power plants and future-proofs them, ensuring reliable, low-carbon energy for decades.

By enabling gas turbines to be zero carbon capable, it complements intermittent renewables like wind and solar with a true baseload solution, providing grid stability and saving thousands of gas turbines and supporting infrastructure from becoming useless and costly stranded assets.

With the fresh funding, Crosstown will adapt its multi-platform technology to expand its product portfolio to support even more turbine types and additional turbine platforms, including Rolls-Royce, GE, Siemens, ABB and more.

The company is also establishing further sales-partnerships with Independent Service Providers (ISPs) and Original Equipment Manufacturers (OEMs) while growing its world-class expert team at its headquarters in Switzerland.

Lead image: Crosstown team | Photo: Uncredited

Nautica Technologies, a Zurich-based robotics startup, has successfully raised €3.4 million to fuel the commercialisation of Nautica’s technology and support the first commercial deployments across customer fleets.

The round was led by b2venture, with participation from angel investors with backgrounds in shipping and robotics, as well as partners from Partners in Clime, Prequel Ventures, and Rethink Ventures.

“At Nautica, we’re transforming hull maintenance from a costly and reactive process to an automated, always-on system that enhances vessel performance while reducing environmental impact,” said Cédric Portmann, CEO and Co-founder of Nautica Technologies. “We’re happy to be backed by investors who believe in our mission to make shipping more sustainable and efficient. This investment marks an exciting step in bringing our technology to customers worldwide.”

Nautica Technologies is a robotics startup innovating hull maintenance in the shipping industry, it was founded in Switzerland in 2024 by Cédric Portmann (EPFL) and Mina Kamel (ETH Zurich), who bring together expertise in underwater and autonomous robotics.

Driven by a shared vision to tackle one of the shipping industry’s most significant challenges – hull maintenance – they sought to transform this multi-billion-euros challenge using robotics and innovative systems thinking.

Having remained fully bootstrapped until now, the founding team engineered, built, and tested their robots from the ground up, validating the technology in controlled environments, Swiss lakes, and currently in trials on maritime vessels trading globally.

The company’s mission is to combat biofouling and reduce fuel consumption through proactive, autonomous hull grooming robots.

Nautica’s technology uses a swarm of autonomous underwater robots that work together to continuously clean, inspect and maintain a vessel’s hull, preventing the buildup of marine growth before it affects the vessel’s efficiency.

Unlike traditional methods, which Nautica says are reactive or reliant on costly antifouling coatings & manual diver cleaning, Nautica’s robots reportedly offer consistent cleaning with minimal environmental impact.

Nautica Technologies solution is expected to deliver significant fuel savings, reduce GHG emissions and to improve regulatory compliance of vessels by minimising the risk of spreading invasive species.

“Nautica’s proprietary technology addresses a critical challenge in the shipping industry, and their approach aligns perfectly with the growing demand for automation and sustainability in global supply chain operations. We are generally excited for vertical robotics applications and Nautica especially has the potential to redefine how the maritime industry manages hull maintenance,” added Jan-Hendrik Bürk at b2venture.

The global maritime industry is under increasing pressure to decarbonise, optimise operations, and meet evolving regulations such as the IMO CII and EU ETS. According to data provided by Nautica, Biofouling remains a major challenge, increasing fuel consumption by up to 35% and contributing to billions of euros in costs annually.

With over 110,000 large vessels in operation worldwide and tightening climate regulations on the horizon, the demand for intelligent, proactive hull maintenance solutions is expected to grow rapidly.

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