Anthropic, the AI research startup behind the Claude family of models, has raised $13 billion in a Series F round, bringing its post-money valuation to $183 billion, more than tripling its value from just six months ago.

The round was led by investment firm ICONIQ, with Fidelity Management & Research and Lightspeed Venture Partners co-leading. Other major investors include the Qatar Investment Authority, Blackstone, and Coatue.

This marks a sharp rise from the company’s $61.5 billion valuation in March 2025, when it raised $3.5 billion in Series E. The fresh capital will be used to "expand our capacity to meet growing enterprise demand, deepen our safety research, and support international expansion as we continue building reliable, interpretable, and steerable AI systems," Anthropic said in a blog post.

Anthropic’s growth has been driven largely by rising enterprise demand for its Claude AI models. In August, the company released Claude Opus 4.1, an upgrade focused on agentic tasks, real-world coding, and reasoning, areas that continue to drive adoption in enterprise software and development teams.

Anthropic's partners include Alphabet and Amazon, the latter of which is reportedly considering another multibillion-dollar investment to deepen its strategic partnership with the startup.

Anthropic is also deepening its ties with the U.S. government. In August, Claude was added to the list of approved AI vendors by the U.S. General Services Administration, joining OpenAI and Google. The company later said it would offer Claude to the U.S. government for just $1, signaling a longer-term strategy to become a key AI supplier for public-sector needs.

SeqOne, a French innovator in AI-driven genomic analysis, today announced it has entered into a definitive agreement to acquire Congenica, the UK company spun out of the Wellcome Sanger Institute.

The acquisition is set to create the “largest global software pure player in the genomics space“, serving over 160 labs in more than 30 countries.

“The rapid pace of personalised medicine demands continuous investment in software innovation and deep specialisation,” said Martin Dubuc, CEO of SeqOne. “By integrating Congenica’s world-class team, we are further enhancing our strong growth trajectory and ability to provide market-leading software to customers, expert interpretation services, and deepening our presence in the UK market – a global leader in clinical genomics since the landmark 100,000 Genomes Project.”

Founded in 2012, Congenica brings clinical expertise and experience servicing over 25 private and public labs, including multiple NHS Genomics Laboratory Hubs and national programmes such as Genomics England and the Hong Kong Genomic Programme.

Founded in 2017, SeqOne is an AI-powered genomic analysis platform, providing clinical decision-support tools that enable molecular laboratories to deliver fast, accurate, and scalable analysis of genetic data for applications in oncology, rare and inherited diseases, and infectious diseases.

The acquisition unites SeqOne’s AI-powered platform for Next-Generation Sequencing (NGS) analysis with Congenica’s clinical decision support technology and clinical interpretation services. The integrated offering will transform complex genomic data into rapid, actionable insights, ultimately accelerating diagnosis for families affected by rare disease and enabling more precise, personalised cancer therapies.

This move comes at a critical inflection point in medicine. The  cost to sequence a human genome has plummeted, creating a data tsunami. For hospitals and labs worldwide, the challenge is no longer generating data, but interpreting it. This ‘interpretation bottleneck’ is reportedly the single biggest barrier to delivering personalised medicine.

“Congenica has been an instrumental partner to Genomics England, particularly in advancing rare disease diagnosis through their robust platform for clinical whole genome analysis,” said Dr Richard Scott, Chief Executive Officer at Genomics England. “We look forward to continuing this important work with the combined expertise of the SeqOne team to deliver benefits for patients.”

The acquisition comes on the heels of a period of intense organic growth for SeqOne, which has seen the company reortedly double its revenue and expand its international presence from three to over 30 countries in just 12 months.

It also follows the acquisition of Life & Soft in April, which expanded the company’s capabilities into multi-omics and virology. This momentum, supercharged by a €20 million funding round, has enabled SeqOne to execute its strategy to consolidate a fragmented market and build the definitive software operating system for the clinical genomics revolution.

The combined entity will have a significantly expanded global footprint:

• Serving over 160 customer laboratories in more than 30 countries.
• Comprising a dedicated team of over 125 employees.
• Enabling over 200,000 patient genomic analyses in 2025 – a threefold increase over 2024.

SeqOne is committed to ensuring continuity of service and support for all Congenica customers, who will gain access to an expanded and integrated product portfolio. SeqOne will maintain a meaningful UK presence at the Wellcome Sanger Institute.

“The Board of Congenica is proud of the immense impact our technology has had on healthcare since our inception,” said Dr Andy Richards CBE, Chairman of Congenica. “We support this combination with SeqOne, believing their vision and resources are best positioned to carry that legacy forward and ensure our innovative platform continues to thrive and serve patients globally.”

The post Montpellier-based SeqOne acquires Cambridge-based Congenica to create a global leader in AI-powered genomic medicine appeared first on EU-Startups.

Lapee, the Copenhagen-based sanitation startup known for its viral pink urinals for women and gender non-conforming people who squat to pee, has secured €800k in investment and launched an equity crowdfunding campaign to invite its global community to become co-owners.

The recent funding round is backed by a mixture of VC and business angels, with the largest cheque coming from Best Nights VC, the investment arm of Jägermeister. The decision to team up with an investor within the same events industry ecosystem is seen as a major strategic win by the team.

“Our successful journey with Lapee has been strongly motivated by the users’ reception and love for the product. Today, we want to thank our community and our supporters by giving a chance to co-own the company. Investing in Lapee is taking part in a big change and helping us tell the world that women also pee. Investing in Lapee is investing in gender equality, safety and freedom,” said Gina Périer, Founder and CEO of Lapee.

Founded in 2019 by Gina Périer, the company aims to revolutionise public sanitation and gender inclusion at mass events and beyond.

Already a widely recognisable product on platforms like TikTok, where Lapee’s videos have amassed over 90 million views in the past year alone, the startup has turned heads at hundreds of music festivals, sporting events and public spaces.

With a product that aims to be both practical and visually striking, Lapee has found an audience ready to champion its mission – and now, invest in it.

“Now that we have just closed a Seed round with VC and business angels it shows there is a strong business case here. But the real success of Lapee wouldn’t be achieved without our community: the Lapee users and also the customers, festivals, and all the other events that are improving sanitation for women and gender non-conforming people. So we want to open part of Lapee’s ownership to those who matter the most to us,” said Petra Kaukua, COO of Lapee.

The crowdfunding campaign is being launched via Republic Europe and offers shares in exchange for financial backing, marking an accessible investment opportunity aimed at the very audience that made Lapee viral.

The startup’s mission is not only to scale globally, but to foster a broader conversation about inclusive design and gender equity in public spaces.

Lapee’s immediate plans include European expansion and further deployments into under-served environments such as stadiums, urban public parks, and even construction sites. One such installation is already planned at a worksite in Denmark, demonstrating a push toward equality in male-dominated industries where access to suitable sanitation has long been inadequate.

“Securing an investment from someone who is also in the same industry as us is extra special and we can’t wait to expand both our Lateam and bring the physical Lapees to the rest of the world as well!” said Rosa Jensen, Community Manager at Lapee. “Female workers pee too – it is as simple as that.”

The male urinal was invented 2000 years ago by the Roman emperor Vespasiano – but he forgot about his own wife Flavia – Lapee wants to change that with its fresh capital and an equity crowdfunding campaign now open to the public; entering its next chapter with both industry backing and grassroots support.

The post Power to the Pee-ple: Denmark’s Lapee banks €800k to bring pink urinals for women to the masses appeared first on EU-Startups.

Gastrointestinal diagnostics startup Cyted Health has secured $44 million in Series B funding, led by EQT Life Sciences, with Advent Life Sciences and the British Business Bank (formerly British Patient Capital) joining as co-leads. Existing investors Morningside and BGF also participated in the round, which includes a non-dilutive contribution from a strategic partnership with HCA Healthcare.

The Cambridge-founded company, which develops molecular diagnostics for the early detection of esophageal diseases, plans to use the capital to accelerate commercial expansion in the United States, consolidate its presence in the UK market, and grow its portfolio of advanced diagnostic tests.

“This Series B financing marks a defining moment for Cyted as we continue to deepen our commitment to detecting esophageal diseases earlier,” said Marcel Gehrung, CEO and Co-founder of Cyted Health. “This investment will help us consolidate our leading position in the market by expanding our US presence and adding new life-saving innovations to our advanced diagnostics portfolio.”

Cyted’s diagnostics platform centers on EndoSign, an FDA 510(k)-cleared device that enables minimally invasive collection of esophageal cells, alongside a suite of proprietary biomarker-based molecular tests. The platform aims to offer a patient-friendly alternative to endoscopy, enabling earlier detection of conditions such as Barrett’s esophagus and esophageal adenocarcinoma.

The company has already demonstrated substantial clinical traction in the UK through the National Health Service (NHS), with over 35,000 tests performed to date. Its technology is backed by a growing body of peer-reviewed publications validating both patient acceptance and clinical effectiveness.

“Cyted is strongly positioned to redefine the standard of care in upper GI diagnostics worldwide,” said Bruno Holthof, Partner at EQT Life Sciences. “Its minimally invasive diagnostics platform is the standout innovation to capture this significant market opportunity, and we’re delighted to add the company to our portfolio.”

The gastrointestinal diagnostics market is experiencing increased investor attention, driven by rising global incidence of esophageal and colorectal cancers, growing demand for non-invasive diagnostics, and mounting healthcare system pressures to detect and treat diseases earlier.

Cyted operates at the intersection of biomarker-based precision medicine and preventive gastroenterology, two fast-growing verticals within the healthtech and diagnostics space. Its focus on early-stage detection of esophageal conditions positions it well in a market segment where survival rates can increase dramatically with earlier diagnosis.

The company’s expansion into the US, the world's largest diagnostics market, will likely target health systems and value-based care providers looking for scalable, cost-effective alternatives to invasive procedures. The strategic partnership with HCA Healthcare, one of the US's largest for-profit hospital networks, may provide a strong commercialisation foothold.

The Series B financing follows Cyted’s formation of a Clinical Advisory Board, comprising leading experts in gastroenterology and oncology, tasked with guiding the company's clinical strategy as it scales internationally.

Europe’s venture capital landscape for sustainability is expanding rapidly, with ClimateTech emerging as one of the strongest investment areas. According to an OECD report, global CleanTech investment peaked at around €74 billion in 2021, and by 2025, nearly 30% of green startups secured funding, almost double the rate of their non-green peers.

In the European Union, the tendency to shift towards climate-neutral policies made the ECB stress the need for substantial investment in GreenTech. Hence, instruments like green bonds and venture capital are crucial, yet still underutilised, to fully support green innovation and startup financing.

Against this backdrop, we highlight 10 of the most active venture capital firms headquartered in Europe that are leading the green transition, investing in climate technology, renewable energy, circular economy solutions, and sustainable innovation from seed to growth startups stage.

2150: Headquartered in London, 2150 is a venture capital firm that aims to sustainably reshape urban environments, backing entrepreneurs who are driving the climate transition with technologies that create long-term impact.

They invest from early to late stage in startups addressing the full urban stack. Its portfolio spans solutions for how cities are built, designed, and powered, as well as how people live, work, and are cared for. Its portfolio already features startups such as Mission Zero Technologies, which has raised €25.4 million in Series A, and NatureMetrics, which is developing a cutting-edge biodiversity monitoring solution.

4Impact: Based in the Netherlands, this venture fund backs “tech4good” startups that deliver both societal and environmental impact alongside financial returns. The firm closed its second fund with €68 million, co-financed by major backers like the European Investment Fund (EIF) and Invest‑NL.

The firm’s team draws from diverse backgrounds, including Goldman Sachs, Mubadala, and Citi, highlighting its expertise in sustainability aligned with investment. Their portfolio includes investments in the Dutch CleanTech startup Deftpower, a provider of AI-powered electric vehicle charging solutions and Solar Monkey, which provides software for the design and remote monitoring of solar energy systems.

AENU: Founded in 2022 and headquartered in Berlin, this venture capital firm closed in 2024 €170 million to invest in startups for climate technology aimed at accelerating the circular economy and tackling climate change through DeepTech. The firm backs startups from seed until series A stages, with a focus on areas such as renewable energy, energy storage and sustainable materials.

AENU’s portfolio already includes promising startups such as Entrix, Greenlyte or trawa. All developing solutions that drive smarter carbon management, enable CO2 capture with hydrogen as a valuable byproduct, and improve and simplify energy purchasing and management.

Climentum Capital: This Danish early-stage VC firm invests in clean energy startups. It is headquartered in Copenhagen, Berlin, and Stockholm, with a particular focus on the Nordic region. The firm backs European hardware innovations enhanced by DeepTech software.

Climentum Capital looks for disruptive startups that can maximise the reduction of CO2 emissions from industrial powerhouses across Europe. They provide capital to startups at the late Seed and Series A levels. Among their investment portfolio, there is Rodinia Generation, a fashion startup that has created a manufacturing method that drastically reduces carbon emissions and water usage in garment production. Other highlighted stories are the ones from Aegir Insights or Jolt Electrodes.

Contrarian Ventures: As a certified B Corporation, the firm adopts a hands-on, founders-first approach across Europe and Israel. Its main focus is on accelerating decarbonisation, addressing the urgent challenge of greenhouse gas emissions released daily. They typically invest from pre-seed to Series A and provide a process-driven approach to support founders, whether in operations, business development, or fundraising.

In 2023, Contrarian Ventures secured €25 million from the European Investment Fund to support European startups advancing climate-neutral policies. Some of their well-known investments have been in startups such as  Beebop.ai, which raised €4.9 million to advance power grid software or Altrove, a DeepTech startup developing sustainable alternatives for critical materials.

Emerald Technology Ventures: Zurich-based, Emerald is one of the first pure CleanTech VCs in Europe. Its investments are aligned with the UN Sustainable Development Goals (SDGs), with a strong emphasis on decarbonisation, resource and energy efficiency, and waste reduction. In August, the firm secured backing to launch its first water-focused fund with partners including Ecolab and the Goldman Environmental Foundation.

Latelly, they have invested €14.2 million in the startup Vytal Global that’s driving the shift from single-use packaging by providing businesses in the food, beverage, and events sectors with an innovative, scalable, and affordable alternative. Or at the beginning of the year, they invested in StormHarvester, a SaaS startup developing an automated water management software platform.

Extantia Capital: With headquarters in Berlin and a team spread across the UK, Germany, and Israel, Extantia invest in deep decarbonisation technologies, energy transition, and climate-first solutions. To do so, they support the next generation of mission-driven Gigacorn founders. This means that they are looking for startups that are ultimately capable of saving more than 1Gt of CO2 emissions per year and are also commercially viable with scalable business models. Extantia’s main investment vehicle is Article 9 Fund, which meets the EU’s strictest sustainability standards under the Sustainable Finance Disclosure Regulation (SFDR).

In 2024, they closed this fund at €204 million, raised from major institutional investors, to channel into climate tech companies. One of their notable investment is in the startup Reverion, which is developing reversible carbon-negative power plants and recently secured €56 million in Series A funding.

Future Energy Ventures: This multi-stage VC firm with hubs in Germany, Israel and Silicon Valley, is dedicated to shaping the future of climate transition. It focuses entirely on sustainable investments across three themes with clear decarbonisation potential: future energy, future cities and future technologies. In 2024, the venture launched a new fund with a volume of €110 million and a target size of €250 million, joined by E.ON and the European Investment Fund (EIF), aimed at developing and implementing digital solutions to drive the energy transition.

With average initial tickets of €1–10 million, the fund targets seed to Series A investments in Europe, North America and the Middle East. One of its recent investments includes thermondo, a German heat pump installer that has raised €50 million, or the Swiss Jua an AI-based Earth simulation.

HTGF (High-Tech Gründerfonds): Headquartered in Bonn, this venture manages over €2 billion, making it Europe’s most active early-stage investor. While it invests broadly across industrial tech, life sciences, digital, and DeepTech, it has been steadily increasing its focus on GreenTech.

HTGF typically invests about €800k at pre-seed and seed, with the ability to scale follow-on investments up to €30 million. This combination of early backing and long-term support positions HTGF as a key player in financing Europe’s climate tech startups. One of their recent investments was at Proxima Fusion, a DeepTech startup aimed at advancing its stellarator-based fusion power plant across Europe.

Norrsken: It is a VC deeply focused on investing in ClimateTech aligned with the SDGs. They aim to build a global ecosystem that gives entrepreneurs the knowledge, capital and network they need to create solutions to mitigate climate-hazardous consequences.

This year, Norrsken launched Norrsken Evolve, a €57 million fund aimed at investing in early-stage startups which can develop an impactful solution to mitigate climate change consequences. Additionally, they foster investments in startups “using AI for good’ to solve challenges in climate, health, food, education, and society. Among their portfolio, there are startups such as the German-based 1KOMMA5°, a ClimateTech startup for CO2-neutral energy, heat and mobility or Sunsave, a British energy startup making rooftop solar more accessible to people. 

Pale Blue Dot: Founded as Sweden’s first dedicated climate VC, they back early-stage startups combining software and hardware to tackle some of the most pressing climate challenges. Its investments span Europe and the United States, guided by three core themes: Optimise, supporting technologies that decarbonise existing systems such as energy infrastructure and food supply chains; Adapt, funding innovations that build resilience against the impacts of climate change; and Pioneer, enabling breakthrough ideas with the potential to transform industries and create a more sustainable future.

Pale Blue Dot currently manages two funds with €180 million, a €87 million Fund I and a €93 million Fund II, focused on pre-seed and seed-stage ventures. Some examples of their investment portfolio include Solarock, a solar self-consumption startup in France or Cirplus, Europe’s largest B2B procurement platform for recycled plastics.

Planet A: This venture is dedicated to backing startups tackling some of the world’s most pressing environmental challenges. What makes Planet A truly stand out is its science-based approach to impact investing. It is the first European VC to build an in-house science team that conducts life cycle assessments of every potential investment.

These scientists even hold veto power, ensuring that only companies with a demonstrable, measurable impact in areas such as climate mitigation, resource efficiency, waste reduction, and biodiversity protection make it into the portfolio. Backed by BMW, KfW Capital, and REWE, Planet A has invested in 14 green tech startups, including Makersite and Arsenale Bioyards, a neo-industrial startup transforming bio-manufacturing.

SET Ventures: The Dutch VC fund focuses on investing in digital technologies for a carbon-free energy system. SET has built a strong portfolio in areas like energy storage, grid optimisation, and energy efficiency. Investing from early to late stage, providing not just capital but also industry connections in the energy sector.

In 2024, they announced the closing of its Fund IV at €200 million to continue investing in Europe’s energy transition startups. Examples of their investments are the Dutch-based Tibo Energy, a developer of a next-generation Energy Management System (EMS) for industrial and commercial energy sites; Optics11, a DeepTech scale-up that builds advanced fibre optic sensing solutions; and the Spanish Green Eagle Solutions to expand its AI-powered renewable asset automation platform.

Systemiq Capital: Launched in London, they take a systems change approach to climate and nature investing, focusing on circular economy, energy transition, and sustainable food production. Systemiq Capital targets early-stage ClimateTech startups across Europe and North America. They specialise in a more technical aspect of the fight against climate change: electrification, decoding nature and applied AI.

Among their portfolio investment, there are startups such as Podero, a software platform designed for utilities to reduce energy costs, or the British Qflow construction tech scaleup working towards a new way of approaching construction. 

World Fund: One of Europe’s leading sustainability-focused VCs, backing startups that directly contribute to tackling the climate crisis. With a focus on the highest-emitting sectors such as energy, food and agriculture, manufacturing, buildings, and transport, the venture targets two critical gaps in climate tech: the transition from lab to market and from pilot to scalable solutions.

Concentrating on seed to Series B rounds, World Fund has recently invested in startups such as UK-based NetZeroNitrogen, which aims to end reliance on synthetic nitrogen fertilisers, and Germany’s Freshflow, an AI-driven platform optimising the fresh food supply chain.

By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!

The post From capital to climate impact: 15 promising sustainability VCs in Europe appeared first on EU-Startups.

Klarna aims to raise as much as $1.27 billion in its US IPO, as the Swedish fintech today revealed details of its IPO plans, which had previously been paused because of the Trump tariffs. The Swedish fintech announced the launch of its New York IPO, in a regulatory filing.

Klarna and its investors will sell a total of 34.3m shares, with the offer prices between $35 and $37 per ordinary share. Klarna will offer 5.6m of shares, with the rest offered by Klarna investors.

The share offering will value Klarna up to $14bn. Klarna will be listed on the New York Stock Exchange under the symbol KLAR. Klarna pulled its IPO plans in April amid the market fallout of the Trump tariffs.

Klarna pointed out that its offering was "subject to market conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering".

Klarna, most well known for its BNPL products, is currently making a big play in the US and is looking to reposition itself as a bank. It recently launched a debit-first card in the US and across the EU.

Today the EQT Foundation has launched another global fast-grant for rare disease science, designed to accelerate high-risk, high-reward research that rarely makes it through traditional funding filters.

Over 300 million people worldwide live with a rare disease - nearly half of them children. For most, the journey is marked by years-long diagnostic odysseys, frequent misdiagnosis, and a lifetime of symptoms with no approved or effective treatments. The result is profound suffering and an urgent unmet need.

According to Cilia Holmes Indahl, CEO of EQT Foundation, “rare diseases are among the most underserved areas in medicine, “yet they’ve catalysed some of our most transformative therapeutic breakthroughs, such as early gene therapy for severe immunodeficiencies and advanced, targeted biologics. “

EQT Foundation is seeking to award €25,000 to €100,000 in catalytic grant funding to research projects with innovative, translational approaches that have the potential for outsized patient outcomes in this space. I spoke to Cilia Holmes Indahl, CEO of EQT Foundation to learn more.

Indahl shared:

“Through our Breakthrough Science program, we’re offering fast, flexible grants to support researchers working at the edge of innovation, developing RNA-based tools, digital trial platforms, or scalable delivery technologies that can materially improve outcomes for small patient populations.”

Flipping the model on rare disease research funding

Rare disease research is often where breakthroughs begin; CRISPR, gene therapies, biologics, but the funding model hasn’t caught up. This new grant flips the model:

It offers €25–100K grants, deployed fast with decisions in weeks, not months.

Further, the grant is open globally, with a focus on underfunded and underrepresented rare conditions and is backed by EQT’s network of commercial, regulatory, and scientific experts to push ideas from lab to clinic.

According to Indahl, “many of these scientists are navigating complex, underfunded areas with limited data and fragmented infrastructure, and we want to give them the resources and support to move faster toward first-in-patient impact.”

Indahl contends that solving for rare diseases isn’t just about science:

“It’s about building the systems that allow breakthroughs to reach patients, wherever they are. At EQT Foundation, we’re focused on supporting translational science that goes beyond the lab.”

“Through the Breakthrough Science program, EQT Foundation offers more than just capital.

We connect researchers with a global network of healthcare experts, commercialisation support, and strategic partners who can help turn promising ideas into patient-ready solutions.

Whether it’s scaling trial models or improving access through decentralised diagnostics, we’re here to help science move faster, and further.”

The call out is particularly interested in funding initiatives focused on:

Novel therapeutic platforms & curative modalities: Bold approaches that treat rare diseases at their root cause with a clear path to IND/first-in-patient.

This includes enzyme replacement therapies, oral therapies (e.g. neurotransmitter modulators), gene therapies, RNA-based therapeutics (e.g. RNA-based gene modulation, RNA interference), synergistic approaches, and delivery engineering (e.g. alternative delivery approaches, vector optimisation, CMC, in-process analytics), and n-of-few/one toolchains that responsibly scale individualized medicines.

Biomarkers for trial enablement, with selective early detection: The discovery, validation, and development of assays for novel prognostic biomarkers and candidate surrogate outcome measures that improve small-population trial design. Instrument-light or ultra-rapid molecular assays using new chemistries or microfluidics that materially shorten the diagnostic odyssey for patients in underserved settings and have a clear path to impact.

Trial & evidence acceleration (path to first-in-patient): Deeptech methods that turn scarce, fragmented and small-N data into regulatory-grade evidence and accelerate the path to first-in-patient within 12-18 months.

Examples could include FAIR-aligned, interoperable registries for a specific rare disease network; submission ready natural-history and digital biomarker platforms; AI-enabled drug repurposing with a clear clinical evidence plan for new indication.

Access-enabling technology: Rare diseases affect people worldwide, and the Foundation encourages ideas that benefit patients in low-resource or remote settings.

This could mean developing cost-effective therapies or diagnostics that can be deployed in healthcare systems with limited infrastructure, or process innovations that lower cost and complexity of manufacturing/distribution suitable for constrained settings and tied to measurable patient outcomes for individuals with rare conditions.

Innovative disease models & mechanistic insights: Human-relevant models (e.g., patient-derived iPSCs, 3D organoids, organ-on-chip) that recapitulate rare-disease biology and de-risk targets/therapeutics — enabling biomarker discovery, patient stratification, and decision-grade preclinical evidence.

The EQT Foundation supports entrepreneurs, researchers, and non-profits to build a regenerative and more inclusive tomorrow. Founded by Partners at EQT, the foundation exists to push the frontiers of impact, empower the entire EQT ecosystem to give back to society in meaningful ways, and safeguard the EQT Values.  

Applications are open.

Model Health, a US and Belgium-based software startup that enables professionals to capture and interpret lab-grade movement analysis using standard smartphone technology, has raised over €800k in pre-Seed funding to accelerate product development and ramp up hiring efforts.

The round was led by APEX Capital. Other investors include Syndicate One, LeanSquare, and the tech startup accelerator imec.istart. Model Health also counts on the support from angel investors including sports physical therapists Lieven Maesschalck, David Bombeke, and Leen Van Damme, tech entrepreneurs Jeroen De Wit, Kristof de Smet, and Marius Declerck, and an undisclosed international European footballer.

“Every athlete and patient deserves world-class movement analysis, and every practitioner should have affordable, lab-grade tools that fit seamlessly into their workflow,” said Antoine Falisse, Co-founder and CEO of Model Health. “With smartphones only, we can now unlock insights that once required €100k+ equipment, making high-performance movement analysis truly scalable.”

Co-founded in 2024 by a pair of former Stanford researchers and a former McKinsey director, Model Health is on a mission to give physical therapists, athletic trainers, and sports organisations the tools they need to enhance the physical health and boost the performance of their athletes, clients, and/or patients.

Model Health looks to democratise lab-grade movement analysis with fast, portable, and automated motion capture for physical therapists, athletic trainers, and sports organisations.

With musculoskeletal disorders and sports performance becoming global priorities, accessible movement intelligence can reshape healthcare and sports training, driving advances in injury prevention, rehabilitation, performance optimisation, and equipment design.

The technology originated from research by co-founders Antoine Falisse (CEO) and Scott Uhlrich (CSO) at Stanford University, where it has already been adopted by more than 10,000 users in the academic community worldwide. The founding team was later joined by Nicolas Bellemans (CPO and COO), a former McKinsey director.

“Using this system in my clinic has been a game changer”, said Dr Wilfredo Agredo, Medical Doctor. “It provides clear, actionable insights into movement patterns, helping me make more informed decisions for my patients’ treatment plans. The accuracy and ease of use make it an invaluable tool for improvingpatient outcomes.”

The capital will be used to accelerate product development, support adoption among sports clinics and organisations, and scale commercially by growing the team with three foundational hires.

The company now focuses on delivering fast, accurate, and user-friendly tools that provide professionals with actionable data on their patients or athletes through easy-to-deploy workflows.

“Traditionally, athletes need to move from the field/track/pitch to a lab for detailed movement analysis, Model Health reverses this,” said Koen Bosma, Partner at Apex Capital. “They make the lab go to the athletes. Their technology has the potential to become the global standard for how professionals measure, analyse, and improve movement. We are very excited for the journey ahead.”

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SeqOne, a pioneer in AI-driven genomic analysis, has entered into a definitive agreement to acquire Congenica, the UK company spun out of the Wellcome Sanger Institute. The acquisition creates the largest global ‘software pure player’ in the genomics space, serving over 160 labs in more than 30 countries.

Since its founding in 2012, Congenica has drawn on deep clinical expertise to support more than 25 private and public laboratories worldwide, contributing to flagship initiatives such as the NHS Genomics Laboratory Hubs, Genomics England, and the Hong Kong Genome Program.

SeqOne complements this legacy with its AI-powered genomic analysis platform, delivering advanced decision-support tools that enable molecular laboratories to generate faster, more accurate, and scalable insights across oncology, rare and inherited diseases, and infectious diseases.

The acquisition brings together SeqOne’s cutting-edge NGS (Next-Generation Sequencing) analysis capabilities with Congenica’s trusted clinical decision support and interpretation services, creating an integrated offering that transforms complex genomic data into actionable insights, accelerating rare disease diagnoses and advancing personalised cancer therapies.

Martin Dubuc, CEO of SeqOne, commented:

The rapid pace of personalised medicine demands continuous investment in software innovation and deep specialization. By integrating Congenica’s world-class team, we are further enhancing our strong growth trajectory and ability to provide market-leading software to customers, expert interpretation services, and deepening our presence in the UK market - a global leader in clinical genomics since the landmark 100,000 Genomes Project.

This development arrives at a pivotal moment in medicine. With the cost of sequencing a human genome having dropped dramatically, the challenge facing hospitals and laboratories worldwide is not data generation but data interpretation. This “interpretation bottleneck” remains the greatest obstacle to advancing personalised medicine, one that requires sophisticated software to overcome.

Dr. Richard Scott, CEO at Genomics England, said:  

Congenica has been an instrumental partner to Genomics England, particularly in advancing rare disease diagnosis through their robust platform for clinical whole genome analysis. We look forward to continuing this important work with the combined expertise of the SeqOne team to deliver benefits for patients.

The acquisition builds on a period of strong momentum for SeqOne, which has doubled its revenue and expanded its international footprint from three to more than 30 countries in just the past year. It follows the successful acquisition of Life & Soft in April, extending the company’s expertise into multi-omics and virology, and is further reinforced by a €20 million funding round from leading venture capital firms.

Together, these milestones have accelerated SeqOne’s strategy to consolidate a fragmented market and establish the definitive software operating system for the clinical genomics revolution. As the integration moves forward, SeqOne remains committed to ensuring continuity of service and support for Congenica customers, who will now benefit from a broader, unified product portfolio. The company will also maintain a strong UK presence at the Wellcome Sanger Institute.

Dr Andy Richards CBE, Chairman of Congenica, shared:

The Board of Congenica is proud of the immense impact our technology has had on healthcare since our inception. We support this combination with SeqOne, believing their vision and resources are best positioned to carry that legacy forward and ensure our innovative platform continues to thrive and serve patients globally.

The deal terms will remain undisclosed.

Camera Intelligence, a British company building an AI-powered camera system for content creators and businesses, today announced the closure of its €1.7 million Seed funding round.

The round, which included investment from venture capital firms Betaworks, F4 Fund, Next Wave via Flybridge, 7pc ventures and Digital Catapult, will accelerate the development of its integrated AI-native camera and content editing solutions.

“Producing engaging, high-quality content is a necessity for solo creators and small businesses – but they are already stretched thin and juggling multiple business demands. Content creation tools are fragmented, and users producing social media content for the first time struggle with steep learning curves for both mirrorless camera operation and editing software,” said Vishal Kumar, CEO of Camera Intelligence.

Founded in 2021, Camera Intelligence is integrating an intelligent LLM-driven AI assistant directly into a Micro Four Thirds mirrorless camera, which connects to smartphones. This funding will fuel the company’s mission to empower creators and businesses with intelligent camera solutions to simplify the complex process of producing high-quality content.

In the near future, this will allow users to control camera functions through voice commands, eliminating the need to navigate complex menus. The LLM is also able to orchestrate local content editing tasks like colour grading and style selection.

By utilising the latest AI processing chips on the market – ones that typically power smartphones –  Camera Intelligence has created a vertically-integrated AI technology stack, which allows them to rapidly experiment with and embed AI software.

“We are thrilled to support Camera Intelligence in their mission to democratise professional content creation,” said Jordan Crook, Partner from Betaworks. “Their innovative approach to integrating AI into the camera workflow has the potential to transform how creators and businesses produce content.”

The funding round marks the latest milestone in Camera Intelligence’s ongoing evolution, as the company advances its mission to develop smarter camera systems – transforming cameras from passive observers, into intelligent collaborators.

Camera Intelligence will be launching its LLM functionality to iOS users in autumn 2025.

Susan Bowen, CEO of Digital Catapult, said: “As part of our focus on supporting the best and brightest UK deep tech companies to scale, this investment further enables a breakthrough solution harnessing AI and advanced imaging technology to drive deeper innovation in the creator economy.

“As demand for high-quality content creation methods increases, innovative startups like Camera Intelligence deliver scalable, industry-ready solutions which empower creators and transform digital media production.”

The post London’s AI startup Camera Intelligence closes €1.7 million for its LLM-powered camera of the future appeared first on EU-Startups.

The Hong Kong Trade Development Council (HKTDC) will host two leading electronics exhibitions, the 45th Hong Kong Electronics Fair (Autumn Edition) (EFAE) and electronicAsia (eAsia), co-organised with MMI Asia Pte Ltd, from 13 to 16 October 2025 at the Hong Kong Convention and Exhibition Centre. Register now for free entry!

In 2024, the two fairs brought together some 3,200 exhibitors from 19 countries and regions, attracting more than 60,000 industry buyers from 136 countries and regions. This year, they will once again provide a global platform for showcasing innovative products, components, and solutions that are shaping the electronics sector.

Electronics Fair (Autumn Edition) 2025: Spotlight on innovation and lifestyle tech

Now in its 45th edition, EFAE continues to connect international exhibitors with global buyers, presenting groundbreaking products and solutions that reflect emerging technology trends. The 2025 fair will highlight three major areas:

• AI and robotics: Featuring advanced robots from leading brands such as Ti5robot and PADBOT. A dedicated RoboPark will show how robotics and AI are transforming everyday life, medical & healthcare, and business operations through practical demonstrations.

• Digital entertainment: A showcase of immersive experiences, travel gadgets, and outdoor entertainment technologies.

• Silver economy: Fitness and health technology designed for elderly users, addressing the growing needs of an ageing population.

Visitors will also find a range of thematic zones, including:

• Hall of Fame: A display of premium electronic products from renowned brands worldwide. A new RISE Avenue will highlight up-and-coming names in robotics, gaming accessories, and entertainment.

• Adventure Hub: A new feature zone dedicated to exploration and interaction, with experiences such as VR sports games and metaverse journeys.

• Tech Hall: A presentation of IoT innovations that support smart living and city development. The Tech Trend Symposium will run here, bringing together industry leaders to explore the technologies that are shaping tomorrow.

• Startup Zone: A launchpad for entrepreneurs and new ventures. Activities will include pitching sessions, networking events, and curated programmes designed to foster collaboration between start-ups, investors, and industry professionals.

electronicAsia 2025: Advancing the building blocks of technology

Taking place alongside EFAE, electronicAsia will spotlight the essential components, parts, and materials that drive the electronics industry forward. Exhibitors will showcase innovations in semiconductors, sensors, power supplies, printed circuit boards, display technologies, and other areas critical to product development.

The fair plays a key role in connecting component suppliers with global buyers who are seeking the latest technologies to power next-generation devices. Alongside the exhibition, expert forums and technical presentations will provide in-depth insights into advancements across multiple industries.

Together, EFAE and eAsia will offer a robust programme of conferences, forums, and networking activities designed to foster business growth and knowledge exchange. From thematic talks on AI, robotics, and IoT to start-up pitching sessions and industry receptions, the fairs provide a dynamic environment for exhibitors, buyers, and innovators to collaborate. Join the experience and register now for free entry!

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Zopa, the UK savings and lending digital bank backed by SoftBank, has acquired payments platform Rvvup as it looks to expand its retail finance offering. Rvvup was founded in 2021 by former PayPal-owned Braintree executive David Nunn with alumni from Ripple, Square and Airbnb.

Rvvup is a payments infrastructure startup, which is designed to make payments easier for businesses. According to the Rvvup website, the startup helps unite payment tech across debit and credit cards, digital wallets, BNPL, open banking and digital currencies.

Zopa said: “New and existing merchants benefit from a single, simple integration, deeper data insight, better payment conversion and lower overall processing costs within the next six months." Zopa also touted Rvvup’s AI Payment Agent, which it says “ automates the entire payment process, choosing the optimal payment method to reduce costs and boost sales”.

Rvvup works with businesses including Tile Giant, MP Moran, French Bedroom, Mole Valley Farmers, and Fireaway Pizza. It has around 15 staff. Retail financing, which allows shoppers to spread the cost of payments via instalments or credit facilities, has become popular with startups, as big banks shy away from such form of lending.

The acquisition marks Zopa's second following that of DivideBuy in 2023. Tim Waterman, chief commercial officer, Zopa Bank, said:"Acquiring Rvvup is a key milestone in both Zopa’s growth trajectory and our purpose of building the home of money".

David Nunn, founder and CEO at Rvvup, added: “At Rvvup, we set out to remove the complexity of payments, unifying every method and channel into a single platform. By integrating Rvvup’s technology into Zopa, we will have a unique proposition in the market as the only platform to combine lending, banking, and multi-rail payments with AI embedded into the platform.”

OYAK ANKER Bank GmbH has taken a historic step in its digitalization journey — one of Germany’s most comprehensive banking transformation projects has been successfully completed under the leadership of Innovance.

Through this major transformation, OYAK ANKER Bank GmbH has not only redefined its technical infrastructure but also its business processes, achieving a more flexible, scalable structure that prioritizes customer experience.

Innovance provided strategic technology consultancy at every stage of the project — from analysis and architectural design to development, testing, and go-live processes.

By integrating with Mambu’s modern infrastructure, the bank has gained the ability to launch new products to market faster, respond to regulatory requirements more agilely, and enhance its competitive advantage in digital banking.

A Strategic Step Toward the Future

As the technology solution partner, Innovance played an active role in every phase of the transformation, migrating OYAK ANKER Bank GmbH’s legacy systems to a modern architecture centered around Mambu’s SaaS core banking platform.

Supported by custom applications developed on Microsoft Azure infrastructure, this new digital ecosystem is powered by an API-first approach, microservices-based architecture, and real-time workflows. As a result, the bank now has an agile and scalable structure that meets not only today’s needs but also those of the future.

Key innovations implemented during the transformation include:

• Full decommissioning of legacy systems and transition to cloud-based infrastructure
• Faster product development and market launch enabled by a modular, component-based structure
• Enhanced operational efficiency through real-time data processing capabilities
• Deployment of modern user interfaces that improve customer experience
• More agile and flexible compliance with regulations
• Implementation of a scalable API framework that enables new services and seamless integrations

This multi-layered transformation has opened the door to a new era not only technologically but also in terms of business operations. Innovance’s engineering strength, industry expertise, and solution-oriented approach were the key drivers behind the timely and successful completion of the project.

Tangible Results, Successful Execution

Innovance assumed full responsibility for the end-to-end management of this comprehensive transformation project — from planning and architectural design to implementation and go-live.

Thanks to its deep domain expertise in the financial sector and agile project delivery model, the transition was completed seamlessly and without disruption. Innovance’s structured, results-driven, and execution-focused approach enabled OYAK ANKER Bank GmbH to minimize risks and achieve fast, sustainable outcomes, making a confident and solid transition to a modern banking infrastructure.

With Innovance’s technology vision and engineering power, OYAK ANKER Bank GmbH is now prepared not only for today’s digital banking needs but also for those of the future.

Executive Insights

Yusuf Ürey, Co-Founder and CEO of Innovance: “This transformation is not only a milestone for Innovance but also for digital banking initiatives in Germany. It clearly demonstrates what can be achieved when forward-looking banks collaborate with agile technology partners. We helped OYAK ANKER Bank GmbH move beyond traditional systems and step into a future shaped by agility, intelligence, and cloud-based excellence. This project sets a new standard in core banking transformation.”

Mehmet Ali Özcan, Managing Director of Innovance: “We built more than a system — we delivered lasting digital superiority. With this transformation, OYAK ANKER Bank GmbH can rapidly launch new products, scale operations, and deliver the digital experience modern customers expect.”

Client Testimonials

Ümit Yaman and Dr. Süleyman Erol, Managing Directors of OYAK ANKER Bank GmbH: “Transforming our core banking infrastructure was a key step in our long-term strategy. Our goal was clear: to build a digital foundation that meets customer expectations, supports future growth, and complies with regulations in Germany and across Europe. Thanks to the commitment of our internal teams and the expertise of our partners at Mambu and Innovance, we created a future-ready solution without disrupting business continuity.”

Duygu Apaydın, CTO of OYAK ANKER Bank GmbH: “This transformation marks a major milestone in our digital journey. By migrating our core banking systems to a cloud-based infrastructure, we significantly enhanced our agility, resilience, and innovation capabilities. We can now respond more quickly to modern banking customers’ expectations and adapt swiftly to market changes. With Innovance as our technology partner, we completed this transition smoothly and securely, laying a solid foundation for the future of OYAK ANKER Bank.”

Partner Perspectives

Mark Geneste, Chief Revenue Officer (CRO) at Mambu: “As financial institutions increasingly prioritize the modernization of core banking systems — the foundation of innovation — OYAK ANKER Bank GmbH’s rapid transition to Mambu’s cloud banking platform, successfully executed by Innovance, strongly demonstrates both the feasibility and value of core banking transformation.”

Cenk Bozal, Country Manager DACH at Mambu: “Mambu’s future-ready platform enables banks to break free from the limitations of legacy systems, accelerate innovation, and achieve sustainable growth. We are thrilled to have contributed to OYAK ANKER’s transformation through our strong partnership with Innovance. We will continue to support their success and closely follow their development in the coming period.”

More Than a Success — A New Beginning

With this robust digital infrastructure, OYAK ANKER Bank is ready to scale its services, adapt to changing market conditions, and set a new standard in digital resilience and customer-centricity in the German banking sector.

But for Innovance, this is just the beginning. We continue to push the boundaries of digital banking, modernize systems, enable innovation, and deliver tangible business outcomes through collaborations with visionary financial institutions across Europe and beyond.

This transformation didn’t just modernize a bank — it redefined the boundaries of digital banking and set the standards of the future today.

Munich-based Tangany, a BaFin-regulated digital asset custodian preparing for EU-wide expansion under MiCA, has successfully closed a €10 million Series A funding round.

The round was led by Baader Bank, Elevator Ventures, the venture capital arm of Raiffeisen Bank International, and Heliad Crypto Partners, the digital assets investment arm of Heliad AG. Several existing shareholders, including HTGF and Nauta Capital, reaffirmed their long-term support by participating in this round.

“This Series A round represents more than just capital; it’s a strong signal of institutional trust in Tangany’s vision and infrastructure. We’re proud to welcome well-established European institutions as shareholders, further strengthening our position within the financial sector.

“Their involvement reflects our shared commitment to secure, regulated digital asset infrastructure. At the same time, Tangany remains fully independent. Our shareholder structure now mirrors our ambition: becoming an integrated part of Europe’s financial system,” said Martin Kreitmair, CEO and Co-founder of Tangany Rapid Growth & Institutional Demand.

Founded in 2018, Tangany is a BaFin-regulated FinTech company, offering a market-leading B2B solution for the custody of digital assets on the blockchain (e.g., cryptocurrencies, tokenized securities, NFTs). Their solution is used by more than 60 institutional clients, including banks, trading platforms, corporations, and FinTechs; such as:

• FlatexDEGIRO
• eToro
• Bitvavo
• Finanzen.net ZERO

They enable clients to deploy blockchain technology via the integration of an API into their systems. This white-label solution reportedly saves significant cost and time for in-house development, enabling faster time-to-market and a greater focus on their own products and services. Tangany’s crypto custody licence also covers regulatory requirements if needed.

“Digital assets will play a critical role in the future of financial markets, and regulated infrastructure is key to enabling that transformation. Tangany has shown both the regulatory maturity and the technological depth needed to serve financial institutions at scale. We’re proud to support a company that’s helping shape the future of custody in Europe,” said Oliver Riedel, Deputy CEO, Baader Bank

Since its €7 million Seed round led by Nauta Capital in 2022, Tangany has demonstrated continuous growth. Today, the company securely holds over €3 billion in digital assets under custody, serving a wide range of financial institutions and digital asset platforms with over 700,000 customer accounts now active on its infrastructure.

Between 2022 and 2024, Tangany reportedly doubled its revenue, culminating in a 2024 performance that laid the foundation for long-term scalability.

“Tangany is uniquely positioned at the intersection of digital innovation and institutional-grade compliance. Their technology stack and regulatory-first mindset align with what need to safely enter the digital asset space. We’re excited to join them on this next chapter of European expansion,” Thomas Muchar, Managing Director, Elevator Ventures.

Tangany has deepened its role in the financial sector, strengthening its partnership with Baader Bank and collaborating with Elevator Ventures/Raiffeisen Bank.

Looking ahead, they plan to selectively add a small number of like-minded banking partners who share their values and ambitions.

“Tangany’s digital assets under custody have grown 7.5x from €400 million to €3 billion since we led the company’s Seed round in 2022. That success has established the provider’s significance in the European financial ecosystem and has attracted some of the largest institutions around to join the mission as shareholders.

“This is a testament to the team, the product, and the traction to date. We’re delighted to see Tangany close such a strong Series A round, and we cannot wait to see what’s next for the company,” Carles Ferrer, General Partner, Nauta Capital.

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Siena Secondary Fund II, a VC direct secondaries vehicle focused on Central and Eastern Europe and the Nordics, has announced a major closing, with the European Bank for Reconstruction and Development (EBRD) and Estonia’s state-owned SmartCap stepping in as lead investors, each committing €10 million.

The investors join Isomer Capital, already a cornerstone investor in both Siena Fund I and Fund II, along with a broad base of over 100 private investors, including founders, early backers, and key employees of some of the region’s most successful tech companies, like Bolt, Vinted, Pipedrive, Twilio, Wise, etc. 

Siena Secondary Fund I has already built a strong track record, with a portfolio that includes standout companies like Bolt, Oura Ring, and Booksy – fast-growing category leaders with global reach and strong fundamentals. Siena Secondary Fund II continues to attract institutional and private capital across Europe and remains on track to reach its target fund size by year-end.

Siena’s model targets growth-stage technology companies in the CEE and Nordics regions with revenues exceeding € 10 million, executing direct secondary transactions by acquiring equity from early investors, founders, and employees. This unlocks liquidity while aligning incentives for continued performance and successful exits.

This milestone underscores the rising strategic importance of venture direct secondaries – a rapidly maturing asset class that enables early stakeholders to access liquidity while reinforcing the growth trajectories of Europe’s top-performing technology scale-ups. 

Michael Parry, Head of Venture Funds at EBRD, said: 

“Direct secondaries are becoming a key driver of maturity and sustainability in the European venture ecosystem. They provide targeted liquidity while supporting long-term value creation and governance.”

Sille Pettai, Managing Director of SmartCap, added: 

“We see tremendous potential in VC secondaries to amplify capital efficiency and fuel regional success stories. On top of that, we see how this helps to further fuel the spinning of the tech flywheel – helping to launch new startups and bringing new investors to the ecosystem.”

Rain Tamm, General Partner at Siena Secondary Fund, commented: 

“VC secondaries are no longer niche – they’re a smart, strategic layer in a maturing ecosystem. Siena is proud to lead this movement in one of the most dynamic regions for innovation in Europe.”

British BioTech startup CHARM Therapeutics, announces closing of an oversubscribed Series B funding round, raising €68.5 million to advance its next generation menin inhibitor into clinical development.

The funding round was co-led by New Enterprise Associates (NEA) and SR One, with participation from existing investors OrbiMed, F-Prime, Khosla Ventures and NVIDIA.

Gary D. Glick, Ph.D., Executive Chair CHARM Therapeutics, said: “Securing funding from such a high-quality investor syndicate is a strong validation of our approach to overcoming menin inhibitor resistance. Current menin inhibitors show promise in AML treatment but are fundamentally limited by the rapid emergence of resistance mutations that cause treatment failure.

“Our next-generation inhibitors, discovered using our proprietary DragonFold AI platform, are specifically designed to overcome these resistance mutations and deliver the durable responses that patients need. This programme represents a significant opportunity to transform outcomes for patients, and we look forward to initiating clinical development early next year.”

Founded in 2025 by Laksh Aithani and David Baker, CHARM Therapeutics is a BioTech company innovating the next generation of precision oncology treatments through its proprietary AI-driven drug discovery platform.

CHARM’s lead programme is  menin inhibitor for the treatment of acute myeloid leukemia (AML). Unlike first-generation menin inhibitors that rapidly lose potency due to menin resistance mutations, CHARM’s candidates are reportedly designed to maintain potency against all known clinical resistance mutations, potentially delivering the durable responses that patients need.

CHARM has raised over €128 million from leading international investors including New Enterprise Associates (NEA), SR One, OrbiMed, F-Prime, Khosla Ventures and NVIDIA. The company is advancing its lead menin inhibitor candidate toward clinical development in early 2026.

Matthew McAviney, M.D., Partner at New Enterprise Associates, added: “We are thrilled to support CHARM as it transitions into the clinic with its highly promising next-generation menin inhibitor. The strength of the preclinical data and the clarity of the clinical development plan make CHARM well positioned to drive meaningful impact for patients facing treatment-resistant cancers. We’re proud to support CHARM during this next phase of growth.”

AML is a rapidly progressing and aggressive blood cancer with poor prognosis for many patients. Menin inhibitors have recently emerged as a clinically-validated therapeutic class acting through restoration of normal gene regulation and triggering differentiation or death of cancer cells.

However, CHARM says first-generation therapies are limited by rapid emergence of resistance mutations in the menin protein, which reduce efficacy and lead to relapse and disease progression. Further, the efficacy of some first generation menin inhibitors may be limited by safety risks including QTc prolongation and poor pharmaceutical properties such as the potential for drug-drug interactions and requirement for high doses.

Using its proprietary protein-ligand co-folding platform DragonFold, CHARM has identified a development candidate that allegedly retains potency against all publicly described clinical resistance mutations, demonstrating robust tumor regression in preclinical models. This molecule is predicted to be efficacious at low human doses without increase of QTc interval, and does not inhibit enzymes responsible for drug-drug interactions.

Mahesh Kudari, M.D., Senior Associate at SR One, said: “CHARM has leveraged its proprietary protein-ligand co-folding platform DragonFold to rapidly identify highly potent, next-generation menin inhibitors that are active against resistant mutations. We are excited to support progression of this program into clinical trials and look forward to working with the team.”

As CHARM advances its lead menin inhibitor candidate towards the clinic, the Company has strengthened its board with the appointment of Briggs Morrison, M.D. as non-executive director. Briggs brings expertise in menin inhibitor development and understanding of the AML therapeutic landscape from his previous role as CEO at Syndax, the company that developed the first FDA approved menin inhibitor, revumenib.

In addition, Kim Blackwell, M.D. joins the board as non-executive director, contributing oncology and clinical development experience which will be critical in the development of CHARM’s clinical programme.

Following this Series B round, Matthew McAviney M.D., Partner at NEA and Mahesh Kudari, M.D., Senior Associate at SR One, will also join the board as non-executive directors, supporting CHARM’s strategic execution as it advances toward clinical trials.

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Munich-based Tangany, a digital asset custodian, has closed a €10 million Series A funding round. The raise marks a major milestone in the company’s evolution from fast-growing startup to key pillar of Europe’s regulated financial infrastructure.

Trusted by leading brands such as FlatexDEGIRO, eToro, Bitvavo, and Finanzen.net ZERO, Tangany now safeguards over €3 billion in digital assets and supports more than 700,000 active customer accounts. The BaFin-regulated fintech serves over 60 institutional clients with its market-leading B2B custody platform, enabling banks, trading platforms, and fintechs to integrate blockchain technology via a white-label API that reduces costs, accelerates go-to-market efforts, and ensures regulatory compliance.

Since its seed round in 2022, Tangany has doubled its revenue, scaled its organization, and positioned itself as one of Europe’s leading crypto custody providers. With MiCA on the horizon, the company is set to strengthen its leadership in the regulated digital asset ecosystem and expand its role in making digital assets accessible across Europe.

Martin Kreitmair, CEO and Co-founder of Tangany, shared:

This Series A round represents more than just capital; it’s a strong signal of institutional trust in Tangany’s vision and infrastructure. We’re proud to welcome well-established European institutions as shareholders, further strengthening our position within the financial sector. Their involvement reflects our shared commitment to secure, regulated digital asset infrastructure. At the same time, Tangany remains fully independent. Our shareholder structure now mirrors our ambition: becoming an integrated part of Europe’s financial system.

Tangany has expanded its presence in the financial sector by strengthening its long-standing partnership with Baader Bank and collaborating with Elevator Ventures / Raiffeisen Bank. These partnerships mark the start of a new growth phase, working with carefully selected institutions that share Tangany’s long-term vision. Each partnership strengthens its position as a trusted infrastructure provider for regulated institutions across Europe.

The round was led by a group of financial institutions, including Baader Bank (Germany), Elevator Ventures, the venture capital arm of Raiffeisen Bank International (Austria), and Heliad Crypto Partners, the digital assets investment arm of Heliad AG (Germany).

Oliver Riedel, Deputy CEO, Baader Bank, commented:

Digital assets will play a critical role in the future of financial markets, and regulated infrastructure is key to enabling that transformation. Tangany has shown both the regulatory maturity and the technological depth needed to serve financial institutions at scale. We’re proud to support a company that’s helping shape the future of custody in Europe.

According to Thomas Muchar, Managing Director at Elevator Ventures, Tangany holds a unique position at the crossroads of digital innovation and institutional-grade compliance. He added:

Their technology stack and regulatory-first mindset align with what banks need to safely enter the digital asset space. We’re excited to join them on this next chapter of European expansion.

Several existing investors, such as HTGF and Nauta Capital, also reaffirmed their commitment by joining the round. Together, these shareholders highlight Tangany’s deeper integration into Europe’s financial ecosystem and further strengthen its governance and institutional profile.

Carles Ferrer, General Partner, Nauta Capital, added:

Tangany’s digital assets under custody have grown 7.5x from €400m to €3bn since we led the company’s Seed round in 2022. That success has established the provider’s significance in the European financial ecosystem and has attracted some of the largest institutions around to join the mission as shareholders. This is a testament to the team, the product, and the traction to date. We’re delighted to see Tangany close such a strong Series A round, and we cannot wait to see what’s next for the company.

Klarna is launching its debit card across the EU, with the UK soon to follow, as the Swedish fintech looks to up the ante against existing banks. Klarna, most well-known for its BNPL products, is looking to reposition itself as a bank.

Klarna is also gearing up for another crack at an IPO, with reports that it is seeking a valuation between $13bn and $14bn when it lists in the US, which could come as early as this month.

As part of this shift to become a bank, across the EU Klarna is launching the Klarna Card, a card that offers consumers the option to pay immediately, choose Pay in 3 or Pay Later, or use longer-term financing for larger purchases, online or in-store.

The Klarna Card launched in the US in July this year, with Klarna, which has over 100 million active users, saying 685,000 Americans have signed up.

Klarna is currently rolling the card out to customers in Austria, Belgium, Finland, France, Ireland, Italy, the Netherlands, Portugal, Spain, and Sweden, with the plan to roll out across the subsequent markets of Denmark, Germany, Norway, and Poland. It also plans to launch the card in the UK.

Visa is the card network partner for the Klarna Card, so this means the card will be accepted at over 150 million Visa merchant locations. The Swedish fintech is touting its card as an all-encompassing payment option, saying the card can pay for everything from everyday essentials to bigger one-off purchases.

Klarna points out that card-based purchases now account for 10 per cent of Klarna’s payment volume. Sebastian Siemiatkowski, co-founder and CEO of Klarna, said: "When I was a teenager working in retail, the checkout terminals gave consumers a simple choice: debit or credit.

"Over time, that choice was taken away and consumers had less control over when to use debit or credit. Our new Klarna Card brings that choice back, giving consumers control over their money again.”

Quantum algorithms company Phasecraft has raised $34 million in Series B funding to accelerate its breakthrough work and transform quantum computing’s theoretical promise into practical applications.

Quantum computing hardware and software are converging on commercial utility, which is only possible by leveraging ultra-efficient algorithms, like Phasecraft’s. Its unique algorithms are hardware-agnostic, and partnerships with leaders such as Google Quantum AI, IBM, Quantinuum, and QuEra are enabling the company to push even faster towards quantum advantage. 

The company’s quantum-enhanced approach uses quantum computing alongside standard computing to overcome its limitations and enables today’s Noisy Intermediate Scale Quantum devices (NISQ) to tackle problems that were previously inaccessible, without waiting for perfect hardware.

This brings quantum applications to industry sooner than anticipated. Phasecraft is already working with end-users such as speciality materials developer Johnson Matthey, solar cell developer Oxford PV, the UK’s National Energy System Operator (NESO), and leading telecommunications provider BT. 

Ashley Montanaro, co-founder and CEO of Phasecraft, said: 

We’re actively creating quantum advantage at Phasecraft. Our algorithms are delivering meaningful results now, whether it’s simulating the physics of complex materials or optimizing the structure of a large energy network, whilst our partnerships with the world’s top quantum hardware providers increase the impact our algorithms will have for commercial applications. We’re delighted to have the backing of our visionary investors, such as Plural, Playground Global, and Novo Holdings, to support us on the mission to bring quantum advantage to the world faster.

By designing algorithms based on novel insights from theoretical physics and computer science, coupled with knowledge gained from extensive numerical simulations and a deep understanding of quantum hardware, Phasecraft’s work is already gaining momentum.

Phasecraft’s work spans material science, where it makes simulating materials millions of times more efficient, and biological research, where it applies quantum computing to biochemical processes relevant to drug development for genetic conditions. It is also advancing energy resilience by using quantum methods to optimise energy networks.

Its work is addressing areas such as material science, by making simulating materials millions of times more efficient and biological research by applying quantum computing to key biochemical processes relevant to drug development for genetic conditions. It is also advancing energy resilience by using quantum methods to optimize energy networks.

The round was co-led by Plural, existing backer Playground Global, and Novo Holdings’ Quantum Fund in its first direct quantum software investment, with additional participation from existing investors LocalGlobe, AlbionVC, and Parkwalk Advisors.

Ian Hogarth, partner at Plural, said:

Phasecraft is revolutionising the quantum landscape in ways that were previously thought impossible. Its hardware-agnostic approach means it’s been able to work with several of the world’s most powerful computing devices, creating algorithms that are more efficient by factors of millions and that are now helping to solve real-world problems like material discovery and the optimization of our energy networks. It's to the credit of the best-in-class team that Ashley and Toby have built that some of the biggest tech companies in the world, including Google and IBM, see Phasecraft as the way to accelerate the impact of their own devices. I’m incredibly excited to continue supporting Phasecraft not just as Chairman, but as an investor as well.

According to Peter Barrett, General Partner at Playground Global, society has yet to experience the possibilities of quantum materials, remaining largely unaware of the untapped potential they hold. He added:

With advancements in quantum algorithms from Phasecraft, we are poised to shift from discovery to design, entering an era of unprecedented dynamism in chemistry, materials science, and medicine.

Jeroen Bakker, Partner at Novo Holdings, also commented on the investment:

The impact quantum computing will have on the world is undeniable, particularly in the life sciences. Quantum algorithms offer tremendous potential for molecular simulation to predict drug efficacy and optimise design. This is why we are excited to make our first quantum software investment from our new Quantum Fund in Phasecraft. We’re excited about Phasecraft's ability to enable healthcare breakthroughs that could save millions of lives while reducing R&D timelines from decades to years.

The new funding, which brings the total raised to over $50 million including grant funding, will allow the company to double down on its R&D breakthroughs and expand industrial efforts, building real-world solutions for end users.

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