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| id | date | title | slug | Date | link | content | created_at | feed_id |
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| 45,487 | 25/11/2024 02:48 PM | Solaris says “close to finalising agreement” amid reports of urgent €100M funding round | solaris-says-close-to-finalising-agreement-amid-reports-of-urgent-euro100m-funding-round | 25/11/2024 | German fintech Solaris says it's “close to finalising an agreement" amid reports that the unicorn is urgently seeking €100m by the start of December or will seek out a buyer should it fail to do so. Solaris, which offers white-label banking services and is known as a BaaS (Baking-as-a-Service) provider, is one of Germany’s most high-profile fintechs. However, the troubled fintech recently made swingeing job cuts, axing around 240 jobs in its 700-stong workforce, as it closed major parts of its EMI (Electronic Money Institution) business. The Berlin-based fintech, which has raised around €500m in total, is said to be valued at around €1.6bn. Solaris undertook a €96m Series F fundraise in March this year (which also included a financial guarantee of up to €100m). But is now urgently seeking fresh funding, according to a report in German publication Finance Forward. According to the report, a new funding round of between €100m and $150m is expected to be rubberstamped in the coming days but Solaris is also exploring a possible sale of the company should the funding fail. The fundraising is thought to likely come from existing investors. Existing investors in Solaris, which is headed up by CEO Carsten Höltkemeyer (pictured), include BBVA, finleap, Lakestar, yabeo, SBI, Decisive and HV Capital. Among the interested buyers are thought to be SBI, the Japanese investor which is a shareholder in Solaris, as well as Deutsche Bank, BNP Paribas also casting an eye over Solaris. According to reports in the German media, the urgency of the funding round relates to accounting issues and a delay in sales coming in. The value of the write-off of its UK EMI business, major parts of which it is discounting, is more than expected, while sales relating to its flagship ADAC contract are later than expected, sources say. Solaris is also in dispute with Binance, a former client, after Binance terminated an agreement for Solaris to provide Visa debit cards. Solaris filed a lawsuit against Binance, saying the crypto exchange owes it €144 million in minimum guaranteed fees until November 2026. Solaris said: "We don't comment on speculation, but we can confirm that we are close to finalising an agreement." |
25/11/2024 03:04 PM | 1 | |
| 45,486 | 25/11/2024 12:00 PM | Cybertruck's Many Recalls Make It Worse Than 91 Percent of All 2024 Vehicles | cybertrucks-many-recalls-make-it-worse-than-91-percent-of-all-2024-vehicles | 25/11/2024 | Since launch, Tesla's polarizing electric pickup has been beset by quality issues, and is now heading to be one of the most unreliable EVs made yet. Strangely, Cybertruck owners may not care one bit. | 25/11/2024 12:04 PM | 4 | |
| 45,484 | 25/11/2024 11:09 AM | LTIMindtree and Microsoft partner to drive AI-powered solutions with joint strategy | ltimindtree-and-microsoft-partner-to-drive-ai-powered-solutions-with-joint-strategy | 25/11/2024 | LTIMindtree has partnered with Microsoft to create a joint go-to-market strategy and make joint investments in AI-powered solutions. LTIMindtree is a global technology consulting and digital solutions company that helps other businesses to digitise their offering in line with the latest advances. The partnership will ensure interoperability of data used in enterprise products and bolster these products' cybersecurity facilities, for example Copilot for Microsoft 365, which merges natural language and extensive data into a tool that streamlines operations, or Microsoft Copilot for Security which offers automated incident response, integrated threat intelligence, and advanced threat analysis. “This partnership with LTIMindtree highlights our dedication to work with partners, to deliver secure AI solutions that empower organizations to transform and thrive,” said Julie Sanford, Vice President, Business Management, at Microsoft. “With Microsoft AI services like Copilot and Azure OpenAI Service, LTIMindtree is poised to drive significant advancements in AI-led digital transformation. Through our strategic alliance with Microsoft, we’re bringing our AI vision to life in ways that truly drive results," said Rohit Kedia, Chief Growth Officer at LTIMindtree. "The narrative isn’t just about adopting technology; it’s about transforming how businesses think, operate, and compete in the AI era. For our customers, this means faster innovation, more intelligent decision-making, and real-time insights that unlock new levels of growth and operational efficiency.” he added. LTIMindtree develops products across six solution areas: Infrastructure, Business Applications, Data and AI, Digital & Application Innovation, Modern Workplace & Security, and the GitHub Copilot specialization. |
25/11/2024 11:34 AM | 1 | |
| 45,485 | 25/11/2024 11:04 AM | Swiss insurtech Poncho raises CHF 550,000 for weather-insured travel | swiss-insurtech-poncho-raises-chf-550000-for-weather-insured-travel | 25/11/2024 | Swiss insurtech Poncho has raised a CHF 550,000 seed round led by WeBuild Ventures. The raise follows Poncho's launch of its parametric weather insurance product; it has partnered with selected businesses to integrate its product in their booking processes. Poncho allows companies to factor in uncertainty as weather patterns become increasingly disrupted. With the new seed funding, Poncho will help businesses "de-risk" their weather dependency and enhance customer confidence in booking, rain or shine. Poncho’s product allows customers to add weather protection at the time of booking, enabling businesses to avoid last-minute cancellations caused by bad weather and encouraging advance bookings—ultimately boosting sales and improving operational stability. Using a proprietary system, Poncho crafts weather insurance offers live during the booking process, tailoring coverage and pricing to the specific location, date, and activity. Its technology monitors weather conditions in real-time using high-resolution models, and automatically issues refunds when predefined weather conditions are exceeded—with customers having no insurance claim to file. “This funding is a significant step forward in our journey to make weather insurance accessible and straightforward for everyone. We’re excited to partner with our investors to bring Poncho’s vision to life and expand our footprint across the Swiss travel and leisure landscape.” said Omar Jerrari, Founder & CEO of Poncho. “We believe Poncho is solving a real and growing pain point in the travel and leisure industries. Their innovative approach to weather insurance has the potential to create immense value for businesses and customers alike.” added Nicolas Lagreze , Managing Director at WeBuild Ventures. |
25/11/2024 11:34 AM | 1 | |
| 45,483 | 25/11/2024 11:00 AM | The Future of Online Privacy Hinges on Thousands of New Jersey Cops | the-future-of-online-privacy-hinges-on-thousands-of-new-jersey-cops | 25/11/2024 | Removing your phone number and address from the internet can be exceedingly difficult. A multibillion-dollar lawsuit led by an unlikely privacy crusader could soon catalyze change for everyone. | 25/11/2024 11:04 AM | 4 | |
| 45,482 | 25/11/2024 09:10 AM | Last week recap: European tech companies raised over €2.5B, around 76% collected by 10 biggest deals | last-week-recap-european-tech-companies-raised-over-euro25b-around-76percent-collected-by-10-biggest-deals | 25/11/2024 | Last week, we tracked more than 95 tech funding deals worth over €2.5 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe. The top three industries that raised the most were software (€667.6 million), fintech (€534 million) and analytics (€418.3 million). Regionally, companies from the ?? UK secured €693 million, followed by ?? Belgium (€512.3 million) and ?? Spain (€412.9 million). As a paying subscriber, you're privy to our monthly reports that break down the essential deals, actions, and players across the European tech ecosystem. Now, let's get you up to speed on everything that happened last week, including your handy.csv file allowing for an even more in-depth analysis. Have a great week!
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25/11/2024 09:34 AM | 1 | |
| 45,481 | 25/11/2024 09:00 AM | The opportunities and responsibilities in impact investing [Advertorial] | the-opportunities-and-responsibilities-in-impact-investing-advertorial | 25/11/2024 | The end of 2024 will mark the hottest decade on record. With it we continue to see the adverse environmental effects that come with it – extreme weather events, loss of glacial ice and rising sea levels to name a very significant few. The end of this decade is also marked by COP 29. The annual meeting of world leaders, this year taking place in Baku, Azerbaijan, are discussing the actions needed for international alignment regarding the climate crisis. According to UN coverage of the event, due to the focus of this year’s conference it is being called the ‘climate finance COP’. A main point of discussion is securing the significant financial investments needed to reduce emissions and protect vulnerable populations. This is in particular reference to aiding emerging economies adapt to the most negative impacts of climate change and cut carbon output. An ever-important discussion to have, COP 29 punctuates the role of strategic impact investing. At EIT Urban Mobility impact is at the centre of investment, acting as a constant guide in which direction the investment decision should take. When discussing impact investing there is a natural question; how does this differ from regular venture capital (VC) activity? At a fundamental level it is the emphasis that the investments which are made must have a positive impact from either an environmental and/or societal level. This consideration adds constraints and steps which are generally absent from the traditional VC model. A model which, among other things, prioritises financial return regardless of the effect it has environmentally or societally. Aligning with impactEIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union, is here to address critical need. This means focusing on the most pressing challenges facing us all and those companies who create the innovative solutions to address them. To ensure consistent alignment with this pursuit, investments are evaluated based on their own potential to create impact. But what is impact? Impact refers to the breadth, depth and scale of change an investment can make - or conversely, the lack of impact. EIT Urban Mobility aims to support companies and initiatives that can reach and benefit as many people as possible and/or improve environmental conditions to create liveable cities. Impact investments are evaluated based on their ability to create a positive change to users and community rather than solely the potential of the market size to benefit the investment. The duration of impact is also considered: For how long will the positive impact be felt? In a way this consideration is akin to the traditional investment view of sustained profits. Longevity is an important factor to consider as investments with lasting benefits should be viewed as more valuable over quick fixes. This means supporting projects and organisations that have sustained business models, strong governance and the ability to grow and maintain their impact over time. Environmental and social diligenceAs expected with all types of investment, due diligence and analysis must be carried out. This takes the form of accessing the market opportunity, business model, the team & founders and risk to name a few. When incorporating the impact of an investment as a primary marker however, EIT Urban Mobility welcomes the additional and necessary steps to fulfil that role. At the heart of this responsibility lies the rigorous assessment of both positive and negative impacts across four expansive dimensions (Society, Knowledge, Health and Environment) and 19 diverse categories, as delineated by the Upright Project’s Net Impact Model. Paramount to this process is the alignment of companies with the Sustainable Development Goals (SDGs), ensuring that investments resonate with EIT Urban Mobility's core mission and values. The Upright Project uses a model which is based on a network which employs an analysis of 250 million scientific articles, public statistical databases and a proprietary taxonomy of over 150,000 product and service categories to assess impact. To guide investment decisions, EIT Urban Mobility looks at the Net Impact Ratio (%), which indicates whether, considering both the positive and negative impacts a company has, it is contributing more positively or negatively to the world. The maximum value of the net impact ratio is 100%, symbolising a company with no negative impacts, while there is no minimum value. What results does this approach produce?EIT Urban Mobility’s portfolio Net Impact Ratio is +46%, meaning the portfolio creates 46% less negative impacts than positive impacts. This exceeds the benchmark Net Impact Ratio of 37% and converts to real world results when considering equivalent outputs. In relation to social impact, EIT Urban Mobility’s portfolio generated the equivalent of 1,070 direct or indirect jobs while producing an environmental impact which is comparable reducing 10,027 tonnes of emissions. Regarding knowledge, of which the goal is to contribute to knowledge infrastructure, engineering services equal to 25 years of highly skilled, full-time work. In promoting active forms of active mobility, such as cycling and walking, the health impact of the portfolio corresponds to 242 life years. The consideration of impact goes further than just the investments themselves but also considers the gender makeup of teams and the region or geography they originate. When taking this into account, it becomes apparent that there are multiple layers to what is collectively referred to as impact investing. However, in properly assessing these layers EIT Urban Mobility can say investing in this way creates a more equitable playing field in the mobility sector: 45% of startups in EIT Urban Mobility’s equity portfolio are led and/or founded by women. Learn more about impact investingAs more cities around the world deal with the challenges of urbanisation and climate change, targeted impact investing has the power to contribute to its easing. With the correct investments, policies and infrastructures in place, it is possible to create urban environments which are both enjoyable and functional for us and the environment. To help in gaining a better understanding of this form of investing and its many aspects, EIT Urban Mobility has released its Impact Report. This report explores the importance of impact investing, the considerations of measurement and EIT Urban Mobility’s approach to foster tangible transformations in both society and the environment. Playing a crucial role in seeking to solve complex mobility issues, presented are a selection of startups whose varied and important work makes positive contributions to our daily lives. To learn more about EIT Urban Mobility’s portfolio, investment strategy and process, read the 2024 Impact Report here. |
25/11/2024 09:04 AM | 1 | |
| 45,480 | 25/11/2024 09:00 AM | Cloud management platform emma secures $17M in Series A funding | cloud-management-platform-emma-secures-dollar17m-in-series-a-funding | 25/11/2024 | emma, a cloud management platform, has raised $17M in a new Series A funding round. The news follows its $6 million Seed Round in March 2023, bringing total funding to $23M within two years. The round was led by Smartfin, with participation from RTP Global and existing investors. The capital will fuel the expansion of emma’s product development, accelerate go-to-market efforts, and enhance customer success initiatives. Founded in 2019, emma's platform combines advanced AI-driven automation, real-time analytics, and comprehensive multicloud management capabilities, allowing teams to gain full visibility and control over their cloud environments. By simplifying complex cloud ecosystems, emma allows businesses to optimise workloads, forecast usage, and manage multicloud strategies, enabling more effective resource allocation and financial predictability. CEO, Dmitry Panenkov commented “At emma, we’re shaping the future of cloud operations. As businesses grow, they need the freedom to scale across any provider without limitations. We're building the standards to make cloud-agnostic operations a reality. This funding accelerates our mission to give companies the control and flexibility they need to optimize across all environments.” The Series A round will allow emma to continue its rapid innovation and bring new features to the platform, including AI accelerators, enhanced security, broader cloud integrations, and more robust automation capabilities. Additionally, the company intends to establish a research and development center at its headquarters in Luxembourg to support product development and address the increasing demands of its growing customer base. “emma is addressing one of the most critical challenges for modern enterprises: managing and optimizing complex multi-cloud environments," added Harry Haeck, Partner at Smartfin "By combining automation, cost visibility, and actionable insights into a single platform, emma offers a unique approach to cloud management, enabling businesses to focus on innovation instead of infrastructure. At Smartfin, we are proud to partner with a transformative company that is leading the way in smarter, more agile cloud strategies for enterprises worldwide.” Photo by Growtika on Unsplash |
25/11/2024 09:04 AM | 1 | |
| 45,479 | 25/11/2024 08:00 AM | Candix's secret to efficient recruitment: stealth job hunting | candixs-secret-to-efficient-recruitment-stealth-job-hunting | 25/11/2024 | Looking for work is no easy task. Some platforms require cover letters and resumes, and others, videos. There's the problem of ghost jobs, not to mention ghosting post-application or even post-interview. And how do you apply stealthily for jobs in a sector where everyone knows everyone? French-founded startup Candix has found a way. It has developed a platform where, instead of actively applying, qualified candidates are discovered by potential employers. I spoke to founder Theo Avoyne to find out more. He detailed:
Your boss won't know you're job huntingCandix prioritises job seeker confidentiality by implementing multiple security measures. Companies must sign NDAs to access the talent pool, and access is limited to one point of contact per company. This enables job seekers to explore future opportunities without risking their current positions, as profiles are hidden from current and previous employers. Users can specify their ideal job criteria, filtering out irrelevant offers and ensuring they're only approached with suitable positions. Most people adding their profiles to the platform are seeking more ownership, career advancement, or a higher salary.
Further, the platform is completely free for job seekers. Capitalising on the AI talent warAccording to Avoyne, startups were trying to poach talent from big tech a few years ago, "but now they're also poaching talent from each other." While expanding, the platform is currently focused on the AI talent war, specifically targeting AI and machine learning practitioners as well as software engineers.
Startups up the ante with higher salaries to attract top talentAvoyne observes a steady increase in salaries on Candix, which aligns with broader market trends. Traditionally, startups have prioritised equity over substantial cash compensation. “However, to compete with major tech companies offering significant salaries to AI and senior software engineers, startups are now compelled to adjust their compensation packages. We’re seeing salaries of €150,000 to €200,000, which is a departure from historical norms in Europe.”
The average salary requested on Candix in October in Paris was €109,000, with a steady monthly increase over the past six months, averaging 2.5 per cent. Recruitment is expensive for any competitive startup, with a single role costing as much as €20,000–30,000 through conventional platforms and agencies. According to Avoyne, Candix utilises a network of external recruiters to onboard candidates:
Europeans flocking to US tech jobsIn the last two years, the number of Europeans who have emigrated to the US for AI roles has increased by over 300 per cent. The proportion of French talent on Candix open to relocation is now 42 per cent, up 39 per cent from six months ago. Among this group, the top target countries are the US (68 per cent), Switzerland (36 per cent), and the UK (27 per cent). Avoyne also stresses that while the company is focused on attracting currently employed people to new roles, they don't prevent the unemployed from signing up.
The company prioritises active candidates. Those who haven't updated their profiles or indicated their job-seeking status are removed. This ensures that companies receive timely responses from qualified candidates.
In October, Candix announced a €185,000 funding raise to test the US market following its successful launch in France. |
25/11/2024 08:04 AM | 1 | |
| 45,478 | 25/11/2024 07:30 AM | Fintech NORBr raises €3M for payments software | fintech-norbr-raises-euro3m-for-payments-software | 25/11/2024 | Payment Infrastructure as a Service (IaaS) provider NORBr, has raised €3M in a round led by Alstin Capital, with participation from previous round’s lead investor, Portfolion. This capital will be used for product development, including the advancement of features for managing payment terminals, operational efficiency and compliance. The global payments market is projected to reach $2.2T by 2027, with substantial development costs and long timelines that create barriers for operators aiming to modernize or launch payment solutions. NORBr’s routing capabilities offer faster market access and increased resilience in managing payment flows. Its clients include prominent luxury brands, health-focused companies like Welltech, and financial service providers such as Equals Money and OnRamp. This €3M funding round will accelerate NORBr’s roadmap, including the development of advanced omnichannel features, operational automation, and compliance tools. It will also support targeted hires in key areas to expand platform capabilities and enhance client support. “We are thrilled to support such an experienced team in building the next generation of payment infrastructure. This is evident in their enterprise-level technology and impressive customer base. The no-code, omnichannel solution offers two key advantages: Firstly, it enables the fast and secure integration of new payment service providers worldwide, both in physical and online retail. Secondly, NORBr’s infrastructure facilitates the modernization of legacy systems. We couldn’t be happier to have such a talented team in our portfolio.” said Nabil Naimy, CEO. “With our extensive experience in building payment platforms, we’ve seen firsthand the challenges of high investment, delays, and the ongoing demands of platform management. NORBr was created to solve these issues, providing a robust and innovative infrastructure that supports legacy upgrades and facilitates new market entries for our clients. Our lean, capital-efficient approach has enabled us to deliver a highly impactful solution that maximizes client value.” |
25/11/2024 07:34 AM | 1 | |
| 45,477 | 22/11/2024 06:00 PM | Elizabeth Warren Calls for Crackdown on Internet ‘Monopoly’ You've Never Heard of | elizabeth-warren-calls-for-crackdown-on-internet-monopoly-youve-never-heard-of | 22/11/2024 | US senator Elizabeth Warren and congressman Jerry Nadler have demanded the government investigate whether VeriSign, steward of the .com domain, is ripping off customers and violating antitrust laws. | 22/11/2024 06:04 PM | 4 | |
| 45,476 | 22/11/2024 03:55 PM | Revolut says 2025 “bigger and better" as announces tray of new products | revolut-says-2025-bigger-and-betterandquot-as-announces-tray-of-new-products | 22/11/2024 | Revolut CEO and co-founder Nik Stronsky today pledged that 2025 would be “bigger and better” as the fintech giant revealed some of its product launches for next year. Storonsky and Revolut co-founder Vlad Yatsenko revealed details of an AI assistant, a move into mortgages and a further rollout of ATMs at an event to celebrate Revolut hitting the 50 million customer mark. Storonsky said:
Coming in 2025 will be a Revolut AI-powered assistant, an in-app bot which will help guide customers towards “smarter money habits, enhanced financial decision-making and streamlined admin”. Revolut says the bot will be gradually rolled out in 2025. The London-headquartered fintech is also moving into mortgages, a potentially lucrative revenue stream, kicking off with a digital mortgage product in Lithuania, followed by Ireland and France in 2025, and Revolut said it’s also looking at offering overdrafts. Revolut, which is primarily known as a challenger bank, will also begin rolling out branded ATMs that dispense cash and cards in Spain early next year. The ATMs have already been installed in airports including Milan, Rome, Porto and could soon come to the UK, according to UKTN. Meanwhile, Revolut's business offering, Revolut Business, will bring its first credit product to Europe while Revolut Business also plans to help companies manage their restaurant and store operations with Revolut Kiosk. It said it also plans to push its Revolut Pay offering with multiple payment methods including, in future, Buy Now Pay Later. |
22/11/2024 04:04 PM | 1 | |
| 45,475 | 22/11/2024 03:00 PM | Bluesky Says It Won’t Screw Things Up | bluesky-says-it-wont-screw-things-up | 22/11/2024 | The not-a-Twitter-clone is exploding, and its CEO promises to not repeat old social-media mistakes. Her strategy? Massively empower users to decide how the service works. | 22/11/2024 03:04 PM | 4 | |
| 45,474 | 22/11/2024 02:36 PM | Belgian unicorn Odoo raises €500M, Northvolt files for Chapter 11, and OASYS NOW wins €1M in Slush 100 | belgian-unicorn-odoo-raises-euro500m-northvolt-files-for-chapter-11-and-oasys-now-wins-euro1m-in-slush-100 | 22/11/2024 | This week we tracked more than 95 tech funding deals worth over €2.5 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. 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?? Odoo raises €500M, reaching a €5B valuation ?? seQura raises a round of €410M ?? New unicorn Lighthouse secures $370M Series C for travel analytics ?? The Exploration Company raises $160M Series B for reusable spacecraft development ???? Noteworthy acquisitions and mergers?? Adzuna strengthens presence in North America and Europe with Seiza acquisition ?? PayPal-backed Modulr snaps up first acquisition ?? Game District acquires majority stake in local mobile gaming startup Gleam Games ?? Halma plc makes £42 million swoop for French leader ? Interesting moves from investors? 500 Emerging Europe transforms into e2vc: a new era for global-focused startups ? BSV Ventures closes €15M Fund for Pre-Seed and Seed investments ? Move Energy Fund I secures €35M from EIF to accelerate energy transition ?️ In other (important) news? Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing ? OASYS NOW wins €1M in Slush 100 competition ?? Deep Tech Momentum launches pan-European deeptech marketplace ☀️ Good Energy and GRYD make deal to boost solar power ? Recommended reads and listens? Atomico's State of European Tech: A decade of growth and innovation ? Unlocking the power of manufacturing data with CloEE ?? Happy Plant Protein bags €1.8M to disrupt plant protein market with local, low-cost production ?? European deeptech companies: Shaping the future of innovation ? Remote and Kota team up: disrupting global benefits with embedded employee insurance ? European tech startups to watch?? SaaS startup Bitreport raises €300,000 for chain store management ?? SuperScale raises $1.2M for gaming analytics platform ?? Blockchain ticketing startup Celebratix secures €1.1M ?? Serviceform secures €2.45M for SME marketing suite ?? MannyAI raises €1.5M to reduce overproduction in the fashion industry |
22/11/2024 03:04 PM | 1 | |
| 45,472 | 22/11/2024 01:00 PM | METRON secures €12.5M for industrial energy management | metron-secures-euro125m-for-industrial-energy-management | 22/11/2024 | METRON, a management provider for energy consumption and reduced carbon emissions, has raised €12.5M. Led by the German GET Fund, a highly reputed venture capital investor in the energy sector, alongside long-standing investors (BNP Paribas, Climate Investment and Vertigo) who have renewed their confidence in the French cleantech company. The investment of the GET Funds coincides with METRON’s market entry in Germany, Industrial decarbonization has become strategic for governments around the world. This round will enable the French scaleup to reinforce its development strategy, based on the acquisition of major international accounts - such as Danone, Safran and Arcelor Mittal - and forge significant alliances with international players such as Fujitsu, Thailand's PTT oil company, Dalkia in France. METRON focused its development on Asia very early on, and opened its first office in Singapore in 2018. Now present in Malaysia, Thailand, Singapore and Indonesia, Its expansion in the region has been made possible by successful deployments with industrial leaders in key Asia-Pacific markets. It also covers the Americas with teams in Mexico and Colombia, with some 15 sites to be deployed across the continent by 2025. "We are proud to join this investment round in METRON, a company making a significant impact on industrial decarbonization. Partnering with our esteemed co-investors - Vertigo, BNP Paribas, and Climate Investment - we look forward to supporting METRON as it scales its innovative solutions and reinforces its leadership in sustainable energy management." said Martin Kröner, Partner at GET Fund. “We are delighted by the renewed confidence of our historic investors, and by the arrival of the German GET Fund,” added METRON CEO Vincent Sciandra. “Thanks to this round of financing, we will be able to accelerate our growth strategy and consolidate our trajectory towards profitability by 2025. This support confirms the relevance of our international deployment, enabling us to provide global industrial groups with an energy management solution for their sites anywhere in the world, thanks to our regional presence and in-depth knowledge of local contexts. After 10 years, the decarbonization market is experiencing unprecedented momentum, but our ambition remains intact: to support our customers in transforming their stated decarbonization objectives into measurable reality at each of their plants.” |
22/11/2024 01:04 PM | 1 | |
| 45,473 | 22/11/2024 12:30 PM | The World’s Biggest Maker of EVs Has the Worst Appraisal of Human Rights | the-worlds-biggest-maker-of-evs-has-the-worst-appraisal-of-human-rights | 22/11/2024 | Amnesty International has issued a report charting the supply chains and human rights due diligence policies of 13 major EV manufacturers. The results are a world away from the clean, safe future that electric vehicles promise. | 22/11/2024 01:04 PM | 4 | |
| 45,467 | 22/11/2024 10:15 AM | CIVO partners with Deep Green to strengthen UK data sovereignty | civo-partners-with-deep-green-to-strengthen-uk-data-sovereignty | 22/11/2024 | Civo, a cloud computing startup, has announced the launch of its second UK Cloud Region, LON2, in partnership with Deep Green data centre provider Deep Green. Based in Swindon, Berkshire, this new Cloud region operates on 100 percent renewable energy. Deep Green, Civo’s long-standing partner, selected the Carbon-Z site for its exceptional environmental practices. This upgrade means customers can now handle more intensive and complex workloads, such as AI and ML applications, with greater efficiency and reliability, and data that remains within national borders. Mark Boost, CEO and Co-Founder of Civo said: “Sustainability is at the heart of our mission at Civo. As demand for cloud solutions surges, we are committed to ensuring that the benefits of this technology don’t come at the expense of our environment. It’s a pleasure to be working alongside Deep Green, a partner we have trusted for several years to deliver on our environmental commitment. “With the introduction of LON2, we’re taking an important step toward building a more responsible and environmentally conscious cloud industry. Together with Deep Green, we’re demonstrating that cloud innovation can, and should, be built on a foundation of sustainability.” Mark Bjornsgaard, Founder and CEO of Deep Green, added: “We’re all well aware of the environmental footprint left by the tech industry. By partnering with Civo to launch LON2, we’re on a mission to change the narrative. This collaboration is about proving that innovation and sustainability can go hand in hand. With 100% renewable energy powering LON2 and a shared commitment to exploring further eco-friendly solutions, we’re making meaningful strides towards a greener future for cloud computing.” |
22/11/2024 10:34 AM | 1 | |
| 45,468 | 22/11/2024 10:02 AM | Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing | northvolt-files-for-chapter-11-a-blow-to-europes-independence-from-chinese-battery-manufacturing | 22/11/2024 | Swedish battery cell marker for EVs Northvolt has filed for Chapter 11 bankruptcy protection in the US, placing a blow in Europe’s ambition to divest its dependency on Chinese battery manufacturing. Chapter 11 provides the company with the financing to focus on operational improvements and supporting customers, while allowing for restructuring, reorganisation, and fundraising to secure a long-term competitive positioning. Northvolt Germany and Northvolt North America, subsidiaries of Northvolt AB with projects in Germany and Canada, are financed separately and will continue to operate as usual outside of the Chapter 11 process as key parts of Northvolt’s strategic positioning. The company is also announcing that Peter Carlsson will take on a role as Senior Advisor and step aside from his role as CEO. He also remains a Member of the Board. Northvolt was founded in 2016 by two former Tesla executives, Peter Carlsson and Paolo Cerruti. It raised over $13.8 billion. However, it has struggled against falling demand for electric cars and fierce competition from Chinese manufacturers. It laid off 1,600 workers in September and was found earlier this month to fall short of its production goal of 100,000 cells per week, only managing to ship around 20,000. It lost a €2 billion contract with BMW in June, Northvolt Ett, the company’s flagship battery gigafactory in Skellefteå, Sweden, and Northvolt Labs in Västerås, Sweden will remain operational however, Northvolt suspected production at one of the two manufacturing buildings at the Skelleftea plant in late October, cutting costs by ending its 24/7 production cycle earlier this month. According to Northvolt, the company has enough cash for a week of operations but has secured $100 million in new financing for the bankruptcy process. Operations will continue as normal during the bankruptcy. The company expects to complete the restructuring by the first quarter of 2025. |
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| 45,466 | 22/11/2024 09:14 AM | BSV Ventures closes €15M Fund for Pre-Seed and Seed investments | bsv-ventures-closes-euro15m-fund-for-pre-seed-and-seed-investments | 22/11/2024 | Pre-Seed and Seed stage investors BSV Ventures has closed a €15 million fund with the inclusion of strategic Limited Partners (LPs) such as the NATO Innovation Fund (NIF), Lithuania’s ILTE fund under the Accelerator 2 programme, and private investors from across Europe. BSV Ventures invests in startups at the “Beyond Scientific Validation” stage, where advanced research transitions into solutions on the path to becoming commercially available at scale. With offices in Lithuania, Estonia and Finland, BSV Ventures is focused on enabling early-stage innovators from the Baltics and EU to build and internationally scale their businesses by leveraging technologies in critical, strategic scientific and technological domains from mechatronics and biotech to functional genomics, future of computing, space technologies, AI, and beyond. “Over the past two years, we’ve scouted and supported founders contributing to the next wave of global innovation — ranging from hydrogen and hardware to AI-driven medical devices and resilient connectivity solutions that enable comms even in the most challenging environments,” said Andrius Milinavičius, Managing Partner at BSV Ventures.
The Baltics’ unique geopolitical position and high standard of education create a unique innovation environment. According to Erik Bhullar, General Partner at BSV Ventures, Baltic founders innovate with urgency driven by high-stakes realities.
He asserts that deeptech requires a different mindset:
Chris O’Connor, Partner at NATO Innovation Fund, sees the region as of great strategic importance to the security and resilience of the Alliance:
Lead image: BSV Ventures. Photo: uncredited |
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| 45,465 | 22/11/2024 08:30 AM | B'ZEOS raises Seed funding for seaweed-based packaging | bzeos-raises-seed-funding-for-seaweed-based-packaging | 22/11/2024 | Barcelona bio-based packaging startup B’ZEOS has closed its seed round. B'ZEOS offers sustainable, home-compostable, and bio-digestible packaging solutions made from seaweed extracts to combat plastic pollution. The packaging is fully compatible with existing packaging production lines. Seaweed’s rapid growth rate, ability to sequester CO2, and lack of dependence on land or fresh water, without releasing microplastics, make it an ideal raw material for sustainable packaging. The viability and scalability of B’ZEOS’ packaging has been validated in five paid pilots to date, in collaboration with partners such as Nestlé and other industry players. Faber led the funding with participation from ICIG Ventures, the venture capital unit of International Chemical Investors Group (ICIG). The strategic collaboration with ICIG, a privately owned industrial group with an interest in biotechnology and novel materials, will enable B’ZEOS to fine tune its products and increase production by leveraging ICIG’s expertise in compounds. According to Guy Maurice, founder and "SeaEO" of B’ZEOS, the company is not just focused on developing an eco-friendly solution — its providing an industry-ready, scalable alternative for packaging manufacturers globally. According to Dr Pelin Yilmaz, Investment Director at ICIG Ventures:
With the funding, B’ZEOS will expand its technology readiness level. Lead image: B’ZEOS. Photo: uncredited. |
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| 45,469 | 21/11/2024 09:42 PM | UK hospitality startup Lighthouse enters unicorn club with $370M raise | uk-hospitality-startup-lighthouse-enters-unicorn-club-with-dollar370m-raise | 21/11/2024 |  London-based startup Lighthouse just raised a hefty $370mn from American investment giant KKR at a valuation of over $1bn, making it Europe’s latest unicorn tech company. The funding will supercharge the company’s ambitions to shake up the $15bn travel tech market. What’s on the to-do list? Refining its AI tools, expanding globally, and snapping up competitors through mergers and acquisitions (it has already made four). Lighthouse’s platform crunches over 400 terabytes of travel data every day, using AI to turn that ocean of info into bite-sized insights that help hotels make better business decisions. It includes data like how many… This story continues at The Next Web |
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| 45,464 | 21/11/2024 07:55 PM | New York Times Says OpenAI Erased Potential Lawsuit Evidence | new-york-times-says-openai-erased-potential-lawsuit-evidence | 21/11/2024 | As part of an ongoing copyright lawsuit, The New York Times says it spent 150 hours sifting through OpenAI’s training data looking for potential evidence—only for OpenAI to delete all of its work. | 21/11/2024 08:04 PM | 4 | |
| 45,463 | 21/11/2024 05:28 PM | OASYS NOW wins €1M in Slush 100 competition | oasys-now-wins-euro1m-in-slush-100-competition | 21/11/2024 | I've spent the last few days at Slush in Helsinki. There's snow and lots of amazing startups — and, of course, the infamous Slush 100 startup competition, where startups compete for a cool €1 million in funding. Today, Tech.eu was granted an exclusive interview with OASYS NOW, the winner of Slush 100. Netherlands startup OASYS NOW is on a mission to make personalised healthcare and precision medicine accessible to all. The company is currently focused on cardiology, rare diseases, and multiple chronic diseases. It has developed an AI-powered clinical trial patient identification and recruitment platform for hospitals, doctors, and research nurses who find patients eligible for medical research studies. It meta-crawls research trial criteria and provides healthcare providers with checklists that can be cross-matched with EHRs to find trial options. This automates a large chunk of the time spent trawling through research eligibility criteria for individual studies. I spoke to OASYS NOW co-founders, CEO Nima Salami and CTO Sara Okhuijsen. You can also check out our earlier interviews with OASYS NOW CEO Nina Salami. When it comes to new modes and healthcare treatment and drug discovery, many innovations are thwarted in the early stages. Not due to the science but a lack of research participants. According to Salami, around 80 per cent of trials fail to meet the initial enrollment target and timeline, and these delays can result in lost revenue of up to $8 million per day for drug-developing companies. OASYS NOW is building the EU's first AI-powered Patient Recruitment platform for Clinical Trials. It consists of two main products:
From heart disease to immunologyThe company has expanded its reach from primarily heart conditions to brain-related diseases such as Alzheimer's, Parkinson's, and Dementia as well as immunology. Okhuijsen notes that "The technology is very easy to adapt to different therapeutic areas. So we're just identifying where the most needs are and which clients can quickly adopt our technology." Making new tech accessible to healthcare providers is keyGaining traction in the healthcare sector is no easy task. OASYS NOW patient-centric üprivacy design approach has attracted interest from healthcare professionals. Okhuijsen asserts that one reason healthcare has been predominantly hesitant to adopt new technology is that "they weren't surrounded by people who could tell them what is possible now. So we go where they are and share with them through public lectures and workshops. This also gives people names and faces to the technology. They get to know us and see how we develop and evolve tour tech over time. Research recruiters and staff well receive the AI assistant because it's very explainable. According to Okhuijsen:
The value of privacy by designOASYS NOW's technologies are built compliant-by-design and are thus fully GDPR compliant. An external party continuously monitors its ISO27001 compliance. According to Salami, privacy-first a choice.
The company is also developing a third product that will enable genetic researchers worldwide to collaborate on large data sets without moving the data. Salami shared:
The company is tackling this through confidential federated learning with extra layers of security whereby the data is encrypted at rest and in transit." This approach has attracted interest from NVIDIA and Google. According to Salami, it gives the team validation that "by prioritising privacy first, you can come up with novel ideas of how things can be done, which wasn't possible before. Hot on the heels of their win, the team at OASYS Now is full of praise for Slush. Okhuijsen notes that the competition is a very public VC pipeline. "The top 20 startups go through a due diligence process which includes interviews with the VC patterns. So, it's a great funnel in a very professional, publicly known competition. The funds will assist with expanding the team, especially engineers and salespeople, and will also help finance compute power. Runners-up were women's healthcare science company Mohana (Canada) and AI-driven accessibility compliance platform Dev Ally — stay tuned for an interview with Dev Ally co-founders Cormac Chisholm, CEO, and Patrick Guiney-Fox COO, in the next couple of weeks. Lead image: OASYS NOW by Petri Anttila. |
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| 45,470 | 21/11/2024 03:00 PM | Candela brings electric flying ferry to US shores after $40M raise | candela-brings-electric-flying-ferry-to-us-shores-after-dollar40m-raise | 21/11/2024 |  Candela is flying high — and across the Atlantic. The Swedish startup has secured $14mn, marking the close of its Series C round at a cosy $40mn. This puts its total funding at just shy of $90mn. Candela has also sold its first P-12 ferry in the US, amid burgeoning demand for what is the world’s fastest and longest-range electric passenger vessel. FlyTahoe, the company that will operate the service, will use the P-12 to shuttle tourists and locals across Lake Tahoe. This massive freshwater lake straddles the border of California and Nevada and is best known for its clear… This story continues at The Next Web |
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| 45,461 | 21/11/2024 02:25 PM | MannyAI Raises €1.5 M to reduce overproduction in the fashion industry | mannyai-raises-euro15-m-to-reduce-overproduction-in-the-fashion-industry | 21/11/2024 | Fashiontech startup MannyAI has raised a €1.5 million funding round, including a €240,000 IUK grant and a €1.26 million Pre-Seed investment led by Dreamcraft Ventures. In global garment production up to 40 per cent of items often remain unsold due to misaligned demand. Traditionally, brands have managed inventory risk through markdowns and bulk purchasing, leading to significant overproduction. MannyAI offers an innovative alternative: a test-and-reorder model that enables brands and their trusted suppliers to collaborate seamlessly using advanced AI for short, responsive order cycles. By shifting to shorter cycles, brands can minimise the volume of finished goods required from the outset. The company is founded by ex-manufacturer turned tech entrepreneur Shruti Grover and data scientist Simon Johnson. In her early twenties, Grover gained hands-on experience by establishing and operating temporary factories on construction sites across India, producing structural stone and building facades. She went on to set up a cutting-edge manufacturing facility in Noida, Uttar Pradesh, equipped with advanced water-jet cutters and 5-axis CNC machines. Grover emphasises:
MannyAI’s initial offerings include AI-powered tools for cost negotiation, real-time order allocation, and dynamic capacity management tailored to each factory’s capabilities.They enable brands to meet real-time demand and optimise costs for ultra-fast lead times. MannyAI’s approach aligns with the EU’s policy momentum to address overproduction and overconsumption in fashion. Significantly, unlike traditional on-demand manufacturing, MannyAI’s business model is designed to empower existing factories without the need for capital-intensive equipment. Dreamcraft Ventures led the funding with participation from Alante Capital, Plug and Play EMEA, Carbon13, Ventures Together, and sourcing giant PDS Ventures. According to Mathilde Lyet, Principal at Dreamcraft, increasing regulatory pressures and a shift toward nearshoring, means this innovation is well-timed to help brands reduce waste and improve profitability in a rapidly evolving industry.” With three factories across Europe currently testing MannyAI’s technology, the company is rapidly operationalising its model for real-world applications in the apparel and footwear industry. The funds will enable MannyAI to transform traditional factories into agile, AI-driven production hubs, supporting brands in reducing their total production volumes while making small-batch production profitable. Lead image: MannyAI. Photo: uncredited. |
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