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French startup Dialog announced a €3.7 million ($4.4 million) Seed round to create AI agents trained on brand data, capable of selling both on e-commerce websites and through other AI agents such as ChatGPT, Perplexity, or Gemini.
The round was led by Galion.exe, with participation from Kima Ventures, Weaving Group, and business angels including executives and leaders from Criteo, Hugging Face, Decathlon and AB Tasty. Dialog has also been backed by startup studio Hexa.
“E-commerce websites haven’t really changed since the 2000s they’re still databases with categories, filters, and a search bar. Generative AI finally makes it possible to change that and recreate a true sales experience just like in-store,” said Antoine Grimal, co-founder & CEO, Dialog.
In 2025, several European startups operating in adjacent areas to conversational AI for e-commerce announced new funding rounds.
London-based Merx secured €1.1 million in pre-Seed financing to develop an AI-driven conversational platform enabling brands to communicate with consumers via WhatsApp and similar channels. Prague startup TopK raised €4.6 million at Seed stage to build an AI-native search engine for enterprises, including applications for online retail. Berlin-based Peec AI closed a €7 million Seed round to support its platform focused on AI search and “Generative Engine Optimisation,” helping brands adapt to discovery through systems such as ChatGPT and Perplexity. Meanwhile, Ghent’s Dalton raised €1 million in pre-Seed funding to transform static websites into AI-powered growth engines for e-commerce and SaaS.
Together, these announcements represent approximately €13.7 million of early-stage funding flowing into AI-enabled search, conversational tools, and website-conversion technologies across Europe in 2025.
“Consumers are already used to talking to AI. If your website doesn’t let them do it, they’ll go ask ChatGPT instead,” added Grimal.
The explosion of ChatGPT and conversational assistants marks a turning point in how people shop. Today, more than 70% of consumers already use AI to research and compare products before making a purchase (McKinsey – August 2025).
Shoppers no longer browse through endless categories and filters they ask questions and expect instant, accurate, and personalised answers.
This shift from “click and browse” to “ask and buy” is transforming the online shopping experience. To stay ahead, Dialog argues brands must embrace AI at the core of the shopping journey serving a new generation of consumers who shop through conversation.
Founded in 2022 by Antoine Grimal and Louis Pinsard, Dialog is an AI startup innovating e-commerce with a brand agent capable of representing a brand, advising customers, and even conversing with other AI agents.
Dialog already integrates with the main CMS platforms used by online retailers, making large-scale deployment seamless – it is currently in use by more than 300 e-commerce brands, reportedly tripling the conversion rate of visitors who interact with it.
At OhMyCream, the agent helps customers find their ideal beauty routine with a personalized skincare analysis from a photo.
At Delsey Paris, it guides shoppers in choosing luggage compatible with each airline, simplifying a step that’s often complex.
At MG Motor, it answers visitors’ questions about models and financing options, then directs them to book an appointment at a dealership to finalize their purchase.
“AI won’t kill brands but it will reward those that move fast and rethink how they engage,” said Grimal.
Unlike chatbots relegated to the bottom corner of a page, Dialog is fully embedded within the shopping experience across product pages, homepages, and search bars creating a seamless, conversion-driven journey.
Dialog answers shopper questions, recommends the right products, and recreates the effortless experience of an in-store salesperson driving up to 3× higher conversion rates among visitors who interact with it compared to the site average.
Dialog’s agents can even converse directly with other AI agents driving traffic to the site opening the door to a new generation of AI-to-AI commerce.
“Dialog turns thousands of customer interactions into actionable data – unlocking a new source of insights that e-commerce had never been able to tap into before,” added Rémi Aubert, CEO and co-founder of AB Tasty.
According to data provided by the company: Dialog has powered more than 1,000,000 conversations and triggered over 300,000 add-to-cart events, with 20% of visitors engaging in a conversation. Users who interact with Dialog experience a conversion rate three times higher, alongside a 25% increase in average order value, while maintaining a 95% conversational satisfaction rate.
The funding will accelerate product development by strengthening the agent’s capabilities, and support Dialog’s commercial expansion across Europe.
“Dialog perfectly embodies what we look for at Hexa: a bold vision, a product reshaping its industry, and an exceptional team behind it,” said Thibaud Elzière, Partner at Hexa.
There are hundreds of startup accelerator programmes across the UK and Europe, but as a journalist, I’m only interested in those built and delivered by deep domain experts within specific industries.
ATechX is a growth program developed by the venture and innovation arm of Aroundtown, Europe’s third-largest listed real estate company.
Partnering with Vonovia (Europe’s largest residential real estate company), and built-world VCs noa, Fifth Wall, and Round Hill Capital, ATechX helps the real estate sector adopt technology in a systematic, scalable way — moving beyond one-off pilots towards long-term commercial deployment.
I spoke to Angie Mahtaney from ATechX to learn all about the programme.
The program targets early-stage startups that already have a product (or at least a minimum viable product) and are ready to scale their solutions within real estate, residential, commercial, and hospitality spaces across Europe.
Crucially, it aims to be a “testbed” environment, where startups gain access to real-world assets (via Aroundtown’s portfolio) to pilot or deploy their solutions.
"Real estate isn’t plug-and play"
According to Mahtaney, ATechX was developed in response to programs where startups get stuck in the piloting phase and fail to attract commercial customers.
She contends:
“It was clear that giving a startup a single pilot or one-off investment wasn’t moving the needle. Startups need alignment of systems, product validation, and business model clarity.
It’s rarely plug-and-play in real estate. The idea behind ATechX was to create a programme that deploys tech in a structured way — beyond pilots — where both sides think early about how the relationship can scale. That’s how you build win-wins.”
Further, compared with biotech or consumer tech, there’s no “hockey-stick' growth because sales cycles are long and risk tolerance is low. It’s a traditional industry, and that’s the biggest barrier.
However, once a solution is adopted, relationships tend to be extremely sticky — but getting there takes time. This means founders need to structure their business accordingly. "The lights have to stay on during long sales cycles," shared Mahtaney.
Take the example of data – GDPR and privacy requirements are very stringent. Early-stage startups often lack ISO certifications and security processes.
“So even with the appetite to adopt tech, it can’t happen overnight.”
Further, while there's an increased growth of material innovation from cement to construction-waste composites, these haven’t been tried for decades. The implications of failure are huge. So for the industry, the caution is logical.”
Why enterprise partners matter (especially with Europe’s old building stock)
In addition, many proptech startups struggle to gain early-stage commercial pilots (much less commercial traction) in Europe simply because of the number of people who rent rather than own apartments in old buildings that would desperately benefit from a retrofit or new tech.
For Mahtaney, that’s exactly why ATechX’s approach matters.
“We own the assets and we can create a real sandbox.”
In ATechX, startups work “side-by-side” with real estate, property, and hospitality providers who deploy or pilot-test in real assets. If they prove successful, they scale systematically, from one asset to ten assets, and from one country to multiple countries.
“Accelerators are great, but many don’t have the ability to commercialise at scale. By bringing in partners like Vonovia and Round Hill Capital, we can share learnings, give multi-perspective mentorship, and open our portfolios in a controlled-risk environment,” shared Mahtaney.
ROI, differentiation, and survival matter more than vision
Entry to ATechX is competitive. Firstly, ROI is non-negotiable. Mahtaney contends, “It sounds simple, but it’s not. You can have the biggest vision, but if you’re not delivering value to the tenant or to us, it won’t scale.”
The team also considers the viability of the business model and whether pricing aligns with ROI. Then there's the question of whether the company can fundraise and stick around — “Because the worst case is integrating a solution only for the startup to go insolvent six months later,” shared Mahtaney.
The programme is performance-based. After several months of collaboration with the ATechX team and asset experts, startups present to an investment committee comprising leadership from Aroundtown, Vonovia, and Round Hill.
Mahtaney stresses that the program is goes beyond the funding focus of others:
"We believe great founders will raise capital. The white space we’re solving is zero-to-one commercialisation. We want to give you business.
And we’re extremely transparent. If your business case doesn’t yet work, we’ll tell you — and help you fix it. If you want to strengthen the foundations of your company, this is a great place to do it.”
Part of this transparency is supporting companies to pivot. According to Mahtaney, the pivots from just two startup cohorts are "incredible."
“Startups present their updated business model, the traction they’ve achieved, and the plan for pilots or portfolio-wide deployment. At that point, partners may choose to invest. We’ve made several investments across both cohorts so far.”
Examples of successful startup pivots include:
A robotics founder came in with a prototype focused in hospitality. ATechX placed her at one of their hotels to identify where robots could actually move the P&L. However, according to Mahtaney, “Serving dishes isn’t a big cost centre. Through on-the-ground observation, she pivoted towards higher-value operational tasks — and is now commercially engaging with several hotels.”
Another startup working on ultra-efficient cooling discovered — through meetings with hotel GMs, construction teams, and energy experts — that their biggest opportunity was in a customer segment they hadn't originally considered. The program helped them re-target and re-align their product roadmap.
MapMortar initially entered the program with an AI-first retrofit planning tool. They realised the biggest pain point wasn’t the modelling — it was usability. Existing tools require heavy training and fall apart when the trained staff member goes on holiday."
With this in mind, Mahtaney stresses, “Founders often think about big features, but sometimes the details differentiate you. If someone in our company can’t use your product instantly, they won’t. MapMortar figured that out by watching the tiny pain points we didn’t even articulate.”
Startups have until November 27 to apply for the latest accelerator program.
Ghent-based Rookoo, which builds digital colleagues for events and hospitality teams, has raised €900k in a new funding round in order to expand its platform, develop new modules for price optimisation and capacity management, and offer data-driven insights.
Investors include Louis Jonckheere (Wintercircus), Jorn Vanysacker (100In, ex-Henchman), Gilles Mattelin (100In, ex-Henchman & Tout Bien), Jean-Michel Teerlinck (MTM Group, Artion), Stefaan and Bernard Rossel (Bavet, Burney’s, Frans & Bertha), Matthias Stevens (Dynamate), Pieter Vanermen, Gilles Teerlinck, Tanguy Serraes, Anthony De Clerck, Hendrik Isebaert, Louis Mahy, Piet Van Waes and Olivier Saverys. The round was supported by KBC Innovation Banking and PMV and was facilitated through a collaboration with Ghent-based funding agency The Harbour.
“Event and hospitality teams spend far too much time on admin. We want them to be able to focus again on experience, creativity and hospitality,” says Jeroen Borloo, CEO and co-founder of Rookoo.
In 2025, several European startups active in hospitality- and events-adjacent technologies have announced new funding rounds.
Austria’s chatlyn secured €8 million in Series A funding to further develop its AI-driven guest-communication system for hotels. The Netherlands-based Toppi raised nearly €1 million to scale its AI tools for restaurants, cafés, bars and hotels. In the UK, Nory closed a €31 million Series B round to advance its AI-based restaurant operations platform.
Meanwhile, Spain’s Amenitiz raised €38.9 million to continue scaling its all-in-one management system for independent hotels.
Across these companies, approximately €78.9 million in new capital has moved into hospitality- and operations-focused technology in Europe so far this year.
“By linking conversations with planning and data, we can not only relieve teams but also help them work smarter,” Borloo explains. “Our digital colleague learns alongside the company and evolves with the needs of the team.”
Founded in 2024, Rookoo automates administrative tasks, streamlines communication and supports teams with planning and price optimisation. In doing so, Rookoo reportedly helps organisations save time, work more efficiently and refocus on providing memorable experiences and warm hospitality.
The founders – Jeroen Borloo, Anthony Meirlaen, Thibaut Vincent and Jared Dierickx – met while working at Clarabridge and Qualtrics, where they gained experience in customer interaction and AI technology.
Rookoo’s digital colleagues automatically organise, categorise and follow up requests and turn them into clear action points for the team. This allows customers to be helped faster, quotes to be prepared more efficiently and repetitive tasks to be minimised.
Rookoo is already used today by, among others, Wintercircus Ghent, Tour & Taxis, Brussels Special Venues, SPIN and The Arena Group.
With the newly raised capital, Rookoo plans to further expand its platform. In addition to intake, categorisation and communication, the company is developing new modules for price optimisation and capacity management. It also aims to offer data-driven insights around conversion, workload and offering, enabling organisations to plan better and make informed decisions.
“From the heart of the Flemish ecosystem, we want to build a sustainable, scalable solution that pushes the global event sector forward,” Borloo says. “The event sector is buzzing with creativity, but also comes with a lot of complexity. With our technology, we want to empower teams so they can focus again on what truly matters: creating unforgettable experiences.”
The Ghent start-up is looking beyond Belgium and already has customers in the Netherlands, the United Kingdom and the United States. Soon, the company will take its next step with an official launch in the Dutch market at EventSummit.
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Missiles hit Kyiv startup hub LIFT99 — it only made Ukraine's tech community more determined
In my role, I've visited countless startup hubs and co-working spaces — but it's not every day that a tour includes a bomb shelter or a building that has survived a Russian missile strike.
During a trip to Kyiv two weeks ago, Tanya Chaikovska — co-founder and CEO of LIFT99 Kyiv — invited me to visit the space, learn about its restoration efforts, and meet with members of the team.
Chaikovska co-founded LIFT99 Kyiv when she was just 21 years old, partnering with Estonian entrepreneur Ragnar Sass, who had a bold vision: to create infrastructure in Ukraine that would finally allow its exceptional talent to build product companies — not just outsource for others.
Before the war, LIFT99 Kyiv quickly became one of the most influential hubs in the country: the only place where founders could raise pre-seed capital from international angels at European-level valuations, where global companies came to hire Ukrainian teams, and where the ecosystem minted a 0→1 unicorn — Matter Labs, whose founders took their earliest steps inside the hub.
So, on a crisp autumn Sunday, I made my way to the hub to speak with Lada Samarska, Operations & Development Manager, and Aliona Chernenko, a former resident turned Community & Engagement Manager, to learn more.
From Baltic roots to Ukrainian entrepreneurs
LIFT99 began in Tallinn, Estonia, in 2017, founded by a group of Estonian entrepreneurs, including Sass. Estonia had already produced companies like Skype and Pipedrive, and the founders wanted a physical space where entrepreneurs could meet, collaborate, and not feel alone.
Before LIFT99, Sass co-founded Garage48, famous for its hackathons. When he began spending time in Ukraine, he noticed something striking: massive engineering and product talent, but most of it engaged in outsourcing rather than creating startups.
After meeting Chaikovska — then a young lawyer — he proposed they build something new.
“Let’s open LIFT99 in Ukraine. The talent is here — the ecosystem just needs the platform.”
Chaikovska helped establish the legal and operational foundations of the Kyiv hub, which almost immediately became a home where founders could prototype, raise their first capital, and plug into global networks.
Home to a bright yellow helicopter
The LIFT99 helicopter.
Two things stood out during my visit to LIFT99: the ongoing construction — more on that shortly — and the bright yellow helicopter in the middle of the hub. Chaikovska explains:
“We discussed how to inspire people to do crazy, big things with the help of community — and decided to remove all receptions, put a community kitchen right at the entrance, and place a real-size helicopter on the 3rd floor of a central Kyiv office.”
For months, the founders even planned for the helicopter tail to extend out onto the street. Permits ultimately prevented it, but the helicopter stayed — becoming an unofficial symbol of Kyiv’s fearless tech culture.
The hub itself is airy and warm: open kitchen, lounge areas, meeting rooms named after Ukrainian and Estonian founders, plenty of plants, a shower, and a tiny bedroom on the top floor that founders compete for during long nights.
Image: Visiting the site's underground bomb shelter.
The missile attack
On the early morning of 28 August this year, two consecutive missile strikes hit Kyiv.
“I was in a nearby bomb shelter,” Samarska recounts.
“The explosions were so loud. I thought: ‘That was either my apartment or LIFT99.’ Both are within 250 meters.”
When she emerged, she saw ambulances and fire trucks — and realised it was the hub.
The building next door had taken a direct hit. Unusually, both rockets exploded on top of the building rather than piercing downward.
The blasts sent debris into surrounding structures, including LIFT99. The damage was extensive: shattered windows, 90 per cent of interior glass gone, broken furniture, collapsed walls.
Image: Windows waiting for new glass.
A fallen sign reading “It will be worth it” became both dark humour and motivation.
Some damage was invisible — walls coming loose from frames, glass leaning dangerously, debris embedded inside furniture and walls.
“People think a missile strike is a one-day event,” Samarska said.
“But if you’re directly affected, it lasts for months. You keep walking on metaphorical broken glass. Sometimes literal glass.”
Image: Members kept finding debris weeks after the attack.
A wartime lifeline
After Russia’s full-scale invasion, LIFT99 evolved from a workspace into a survival centre for the tech community. “When power outages started in 2022, we installed a generator,” Samarska said.
The generator was personally donated by Gero Decker, co-founder of Signavio, who wanted to ensure Ukrainian founders could keep working even when the entire capital went dark.
And Kyiv did go dark. Entire districts — sometimes the whole capital — had no electricity, no heating, no mobile connection, often for days. In those moments, LIFT99 opened its doors for free to anyone in tech who needed a place to charge devices, warm up, connect, or simply sit in the light.
“There were days when so many people came that we literally ran out of chairs,” Samarska says.
“Founders were sitting on the floor, wrapped in jackets, laptops plugged into the generator — the only source of power for several blocks. It sounds unreal now, but it was life-saving.”
Some founders slept at the hub during long attacks. The small bedroom became coveted; others stayed on couches or in meeting rooms. Chernenko recalls a startup couple arriving after a night in a bomb shelter with their tiny, exhausted dog.
“But they still showed up to build. That’s Ukrainian founders: frozen, tired, but unbreakable.”
An expanded mission
Global solidarity — and leadership from within LIFT99 did not retreat during the war — it expanded its mission.
Chaikovska and Sass launched Help99, a tech-driven donation platform enabling global tech leaders to support Ukraine quickly and transparently. It also encouraged many of them to visit Kyiv for the first time.
Image: Fundraising by Help99.
They then launched Coaches for Ukraine — led by Ariane de Bonvoisin — uniting partners from Cherry Ventures, Atomico, world-class coaches, and top angels to mentor Ukrainian founders through the hardest months.
Across these years, LIFT99 took on an additional mission: to push foreign investors, operators, and founders to come to Kyiv, run office hours, invest, and support the Ukrainian teams who chose to stay and build through the war.
Many made their first Ukrainian investments ever because LIFT99 insisted on fostering that physical connection.
Rebuilding — and upgrading: LIFT99 Kyiv Hub 2.0
Image: Rebuilding at work.
Despite the destruction, LIFT99 is not simply repairing its space. It is building Kyiv Hub 2.0, driven by a clear mission: to create the most resilient 24/7 place for anyone in Ukraine to launch and run their business.
The upgraded hub introduces infrastructure that the ecosystem has never had before:
Hackathon Space A dedicated arena for Garage48-style hackathons, prototyping weekends, and community tech challenges.
Media Room / Content Studio A fully equipped space for recording podcasts, videos, demos, and fundraising materials — with professional production support. “We want everyone in Ukraine to be able to broadcast high-quality content abroad,” the team says. Residents get priority access and discounts.
Hardware Lab: A compact but powerful lab with 3D printers, basic tools, and workbenches for robotics, hardware, energy, and defencetech founders.
Kyiv Hub 2.0 isn’t just a rebuild. it’s a declaration that LIFT99 is constructing the next generation of Ukraine’s startup infrastructure in the middle of a war.
Giving, grit, and community
Image: NAFO badges displayed at LIFt99 Kyiv.
The hub’s walls display patches from NAFO fundraising drives and Help99 campaigns, many of which funded vehicles for the frontline. Receiving an authentic brigade patch — usually reserved for soldiers — is a rare honour.
LIFT99 provides free space to NGOs like: • Blood Agents — Ukraine's main blood donation coordination network. • Behind Blue Eyes — offering psychological support and education to children in frontline regions.
Image: Rebuilding the NGO room.Image: A trophy for one of this year's winners of the Ukrainian startup awards.
It also hosts the Ukrainian Startups Wall of Fame and annual startup awards, spotlighting the country’s most influential emerging tech companies.
Image: Ukrainian Startups Wall of Fame.
Identity under pressure
Investors often label being based in Ukraine as a risk. For founders, this is painful.
“If you can build a startup here — during missile strikes and blackouts — and still ship a world-class product, then being Ukrainian is a superpower,” Samarska says.
Air raid sirens interrupt calls. Founders hide their location to avoid scaring clients. Others relocate temporarily to raise funds. But LIFT99 urges them not to lose connection.
“They are part of us, even if they’re building from Berlin, Tallinn, or San Francisco,” Chernenko says.
“We want them to keep hiring here, keep contributing, keep identifying as Ukrainian founders. Otherwise, we risk losing our talent forever.”
Want to support LIFT99?
Here’s how you can help:
Run office hours: The team curates meetings between Ukrainian founders and international VCs, operators, and experts.
Visiting Kyiv? LIFT99 will show you around, help you navigate the ecosystem, and introduce you to founders.
Part of the diaspora?
Stay connected. Your knowledge and network matter. Ukraine needs its global founders more than ever. Chernenko sums it up:
“If you’re exploring Kyiv, thinking about opening a team, or simply curious about the tech scene — LIFT99 is the place. Just come. We’ll plug you in.”
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You Won’t Be Able to Offload Your Holiday Shopping to AI Agents Anytime Soon
Chatbot developers and retail giants are battling over user data as they lay the foundation for a future in which AI agents can do all your online shopping for you.
14/11/2025 11:10 AM
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Antwerp’s LIFEPOWR secures €5.65 million to advance virtual-power-plant technology
Belgian EnergyTech innovator LIFEPOWR has secured €5.65 million in growth capital to fuel its next stage of expansion and bring intelligent energy flexibility to more homes and businesses across Europe.
The round was led by Noshaq and SPDG, followed by ROM InWest alongside existing shareholders reaffirming their confidence by reinvesting.
“We are reshaping the way prosumers interact with the energy markets,” says Dries Bols, CEO of LIFEPOWR. “The results? They pay less for energy and balance the system. Together we accelerate decarbonisation and the path to lower energy fees. It’s a win win for everyone.”
LIFEPOWR’s funding round aligns with a broader pattern in 2025 of European startups raising capital to enable flexibility, asset-aggregation and Virtual Power Plant models.
LIFEPOWR’s raise sits within a steady flow of 2025 European activity in energy flexibility and virtual-power-plant development, alongside Germany’s Co-Power and Ostrom, the Netherlands’ Dexter Energy and Zympler, and Denmark’s Hybird Energy.
While none of these peer announcements originate from Belgium, they collectively illustrate a cross-European push to aggregate distributed assets, optimise energy flows and strengthen grid flexibility – context in which LIFEPOWR’s expansion aligns with a broader pattern of investment across the region.
Approximate total funding across these companies is over €53 million.
“This investment is a powerful vote of confidence in our mission to make energy smarter, simpler, and more rewarding for everyone,” adds Bols. “With the support of Noshaq, ROM InWest, and SPDG, we’re scaling faster and helping Europe accelerate its clean energy transition.”
Founded in 2015, LIFEPOWR is a energy technology company reshaping how energy is managed, stored, and consumed. With a team of 33 experts, LIFEPOWR’s technology transforms distributed assets – from rooftop solar and batteries to EV charging – into Virtual Power Plants that reduce CO₂ emissions, cuts energy bills, and strengthens the grid.
With this new capital, LIFEPOWR aims to accelerate the transition to a flexible, sustainable and affordable energy system.
Where energy once flowed one way, from large power plants to consumers, it’s now about smart collaboration between millions of small assets: solar panels, batteries, EV chargers and heat pumps.
LIFEPOWR connects all these pieces. Through its software platform FlexiO, the company reportedly helps households, businesses and energy providers automatically align energy use with moments when it is plentiful or scarce.
“At ROM InWest, we back ventures that accelerate the energy transition through scalable, data-driven innovation. LIFEPOWR’s platform embodies this perfectly – combining smart technology with tangible impact. We’re proud to support their expansion into the Dutch market and beyond, as they help build a more flexible and resilient European energy system,” Jan Fredriks, Investment Manager at ROM InWest.
The company combines three key roles in the Virtual Power Plant value chain:
Unlocking flexibility through its advanced Energy Management Software (EMS+) that orchestrates energy consumption, production, and storage.
Optimising value, aligning energy flows with market prices and grid needs to stack behind-the-meter and market revenues.
Connecting prosumers to energy markets, enabling direct monetisation through LIFEPOWR’s flexibility aggregation and BSP (Balancing Service Provider) activities.
Today, LIFEPOWR manages over 22,000 connected assets and partners with network of resellers, white-label partners and energy providers who integrate FlexiO into their own offerings.
“LIFEPOWR stands at the crossroads of digital innovation and the energy transition – two areas at the heart of Noshaq’s investment strategy. Their scalable platform and proven market traction demonstrate how technology can unlock the potential of residential flexibility while contributing to a smarter, more resilient energy system.
“Beyond capital investment, our support aims to help LIFEPOWR accelerate its expansion into French-speaking markets and build bridges with some of our portfolio companies. We also see LIFEPOWR as a potential powerful decarbonisation tool for businesses – including those within our own ecosystem – enabling them to actively participate in a more sustainable and flexible energy future,” says Nicolas Biet, Investment Manager at Noshaq Energy.
The new funding supports LIFEPOWR’s next growth phase, focusing on three key priorities:
Advance FlexiO’s technology and data intelligence capabilities;
Expand LIFEPOWR’s team of energy innovators;
Launch new market expansions, starting with the Netherlands and other key European regions.
“As an early supporter of LIFEPOWR, we’re proud to continue this growth journey with a team that combines deep technological expertise with a clear vision for accelerating the energy transition. LIFEPOWR’s solution has the potential to leverage flexibility at scale and become a cornerstone of tomorrow’s energy system,” says Jean-Nicolas, SPDG.
The EU-funded StepUp StartUps initiative has recently released a comprehensive new report titled Public Sector Services and the AI Opportunity, spotlighting how AI can transform public services across the EU while opening new doors for startups and SMEs.
The report outlines how governments can leverage AI to improve citizen services, increase operational efficiency, and stimulate GovTech innovation – provided they take bold steps to reform public procurement and foster ethical, data-driven innovation environments.
“AI’s growing capabilities mean it can move beyond improving the way governments operate – enhancing the efficiency of service delivery – to changing how governments think about designing more user‑centric services that are more tailored to people’s needs,” noted Carlos Santiso, Head of Digital, Innovative, and Open Government at OECD.
Produced with support from the European Union, the report confirms a dramatic surge in AI-focused GovTech funding in recent years.
Between 2021 and 2024, venture capital investments in AI-powered public sector technologies soared, with AI-first GovTech startups comprising nearly 50% of all deals in 2024. Despite this momentum, barriers remain: procurement systems across the EU are still largely inaccessible to smaller innovators, and AI startups remain underrepresented in areas such as transport, mobility, and agriculture.
Across the continent, governments are embracing AI-powered solutions to modernise citizen services.
In Denmark, the chatbot Muni helps residents navigate local services across 37 municipalities.
While in Verona, Italy, an AI-driven traffic system uses smart sensors at Porta Nuova to ease congestion at one of the city’s busiest intersections.
In Estonia, the Kratt framework has created a network of interoperable virtual assistants linking over 120 public agencies – earning the nation a European Public Sector Award.
“We take great pride in knowing that our AI-led public services have significantly improved the lives of many of our population, transforming the citizen user experience for the better,” shared Estonian Minister Andres Sutt, Minister of Entrepreneurship and IT 2021- 2022.
Yet these advances remain uneven. While countries such as France, Germany, and the Netherlands lead the Government AI Readiness Index, others are still crafting foundational strategies.
Despite EU-wide enthusiasm, challenges to AI integration persist. These include fragmented administrative systems, inconsistent digital infrastructure, limited AI literacy within public administrations, and ongoing ethical concerns about bias, accountability, and transparency.
A significant emphasis in the report is placed on building what it calls “AI-ready digital public infrastructure” to ensure scalable, trustworthy deployment.
Crucially, the report highlights public procurement as the most underutilised but potentially transformative lever in the AI adoption playbook. With EU governments spending roughly €2 trillion annually – amounting to 14% of GDP -the report calls for a redesign of procurement systems to allow AI startups a fairer chance at securing public contracts.
Innovation Procurement approaches like Pre-Commercial Procurement (PCP) and Public Procurement of Innovative Solutions (PPI) are spotlighted as pathways to help de-risk emerging AI technologies.
The report’s recommendations are clear: establish interoperable data ecosystems, support cross-border procurement pilots, and fund dedicated GovTech initiatives with AI at their core. The aim is not only to modernise Europe’s public sector but to ensure it becomes a launchpad for AI-driven startups able to scale across borders.
““Artificial Intelligence presents Government with opportunities to improve public services. By making it easier for public servants to deploy AI solutions, we can address old problems, generate value for the public, and deliver better public services,” said Jack Chambers, Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Ireland.
As the EU moves forward with the rollout of the AI Act and national AI strategies, the potential for synergy between governments and startups is evident. But for startups to thrive in the public sector arena, systemic changes are required – starting with fairer procurement rules and a willingness to experiment beyond established players.
With the public sector increasingly being recognised as a strategic domain for AI deployment, the report serves as both a roadmap and a wake-up call: if Europe wants to lead in ethical, high-impact AI, it must start by reforming the way it buys innovation.
The past few years have reshaped how we think about business and entrepreneurship, and as we approach the winter holidays, it feels like an ideal moment to pause, learn, and find inspiration. Global challenges, rapid technological progress, and shifting values continue to redefine what it means to build and lead successful companies. In this environment, books remain a valuable source of insight, offering a balanced mix of theory, experience, and practical lessons.
From understanding the foundations of growth and innovation to exploring new approaches to teamwork, culture, and technology, recent publications have provided clear and timely guidance for entrepreneurs and professionals. These books highlight how modern business leaders can adapt, learn, and thrive in a changing world.
Here is a selection of the best-rated books from 2022 to 2025 (alphabetically ordered) that reflect the ideas shaping today’s business landscape. Each one offers a unique perspective on leadership, decision-making, and the forces driving global change. They also make thoughtful gift options for entrepreneurs, founders, and professionals looking to start the new year with fresh ideas!
Breakneck by Dan Wang
In Breakneck, Canadian writer and economist Dan Wang explores China’s efforts to position itself as a leader in industrial and technological innovation. Drawing on research and personal observation, he explains how government policy, education, and manufacturing have combined to transform the country’s economy and global influence.
The book, published in 2025, offers valuable lessons on industrial strategy, entrepreneurship, and innovation ecosystems. It shows how long-term planning and state-backed ambition can reshape industries and what other regions might learn from China’s approach to engineering and production.
Chip War by Chris Miller
In 2022, Chip War, by the American historian Chris Miller, tells the story of how semiconductors became central to global power and economic progress. It examines the competition between nations and companies to control chip production, which now underpins everything from artificial intelligence to defence and consumer technology.
The book provides important context for understanding modern supply chains and strategic industries. For entrepreneurs and business leaders, it underlines the importance of foresight, innovation, and resilience in navigating complex global markets. Chip War won the 2022 FT Business Book of the Year Award.
Growth by Daniel Susskind
In 2024, British economist Daniel Susskind released Growth: A History and a Reckoning, a book that explores the meaning and limits of economic growth. He examines how societies measure progress and whether endless expansion is compatible with sustainability and social wellbeing.
The book invites readers to rethink traditional economic goals and consider how innovation, productivity, and policy can create a more balanced future. It is a thoughtful guide for anyone interested in how growth will shape business and society in the decades ahead. Growth won the FT Business Book of the Year Award in 2024.
How Big Things Get Done by Bent Flyvbjerg & Dan Gardner
Danish researcher Bent Flyvbjerg and Canadian writer Dan Gardner’s How Big Things Get Done look at why some major projects succeed while others fail. The authors use real-world examples, from architecture to technology, to show how careful planning and flexible management lead to better results.
This book, published in 2023, offers clear and practical insights into decision-making, project management, and risk. Entrepreneurs and leaders can learn how to approach ambitious goals more effectively and avoid the common mistakes that derail big initiatives.
Lucky Loser by Russ Buettner & Susanne Craig
Published in 2024, Lucky Loser by American journalist Russ Buettner and Canadian journalist Susanne Craig offers an in-depth investigation into the financial history of Donald Trump. Drawing on years of reporting and access to confidential records, the authors examine how Trump built, maintained, and portrayed his business empire, along with the discrepancies between public image and financial reality.
The book provides a detailed account of the systems, loopholes, and strategies that shaped Trump’s business trajectory over several decades. For entrepreneurs and business leaders, it serves as a reminder of the importance of transparency, accountability, and responsible financial management in any organisation.
Right Kind of Wrong by Amy Edmondson
Published in 2023, Right Kind of Wrong by American academic Amy Edmondson examines how individuals and organisations can learn from failure. She introduces the idea of “intelligent failure,” which occurs when people take thoughtful risks and use mistakes as opportunities to grow.
The book provides a practical framework for creating environments that encourage innovation and psychological safety. It is especially relevant for startups and teams that rely on experimentation and learning to achieve progress. Right Kind of Wrong won that year’s FT Business Book of the Year Award.
Supremacy by Parmy Olson
Supremacy by British journalist Parmy Olson explores the global race to develop artificial intelligence and its impact on business, technology, and society. Drawing from her reporting experience, Olson reveals how competition, policy, and ambition are shaping the next generation of AI innovation.
The book, published in 2024, highlights the challenges that entrepreneurs and governments face as they navigate rapid technological change. It provides a balanced view of opportunity and risk, making it a timely read for anyone working with or investing in emerging technologies. That same year, Right Kind of Wrong won the FT Business Book of the Year Award.
The Corporation in the 21st Century by John Kay
British economist John Kay released The Corporation in the 21st Century in 2024. The book challenges common assumptions about how modern businesses operate and argues that many corporate structures and strategies are outdated and need to adapt to new social and economic realities.
The book offers a clear and well-reasoned analysis of corporate purpose, governance, and accountability. It encourages leaders to focus on long-term value rather than short-term gains, a message that resonates strongly in today’s business environment.
The Thinking Machine by Stephen Witt
In 2025, American author Stephen Witt published The Thinking Machine, an exploration of the evolution of artificial intelligence and the people behind its development. He explains how breakthroughs in computing and data science have transformed AI from a theoretical idea into a central force in global business.
Witt’s writing blends storytelling with deep technical understanding, making complex topics accessible. For entrepreneurs, the book offers an engaging look at the technologies that are reshaping industries and creating new opportunities worldwide.
Tribal by Michael Morris
Published in 2024, Tribal by American psychologist Michael Morris examines how human behaviour, identity, and group instincts shape collaboration and leadership. The book shows how understanding these dynamics can help organisations build stronger teams and prevent cultural divides in the workplace.
It offers insights into how leaders can use empathy and awareness to create inclusive environments that drive performance and trust. For founders and managers, Tribal is a practical guide to managing culture and connection in diverse, global teams.
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!
A planned “exittax“ on entrepreneurs who leave the UK has been dropped by the chancellor of the exchequer, according to reports.
Rachel Reeves had been said to be planning a 20 per cent tax on the British assets of wealthy founders leaving the country as part of this month’s Autumn Budget, as the government looked to plug a multi-billion pound hole in the country’s public finances.
The levy has now been axed amid concerns that founders would exit the country before the charge was implemented, according to a report in the Daily Telegraph.
A source close to the chancellor told the newspaper: “This is a pro-business government which is building on the progress we’ve already made to strengthen the UK’s position as an attractive investment prospect for the best and the brightest across the world.
“Introducing an exit charge would risk signalling that the UK is less welcoming to entrepreneurs and global talent, and that’s not something the chancellor wants to do.”
It said the chancellor was also concerned the levy would lead to founders abandoning plans to launch startups in Britain.
Dom Hallas, the CEO of the Startup Coalition, which campaigned for the planned tax to be dropped, said the U-turn had been “fully confirmed from folks in government” to him.
Earlier this week, the Startup Coalition published a letter signed by over 150 founders and investors calling for the planned tax to be halted, saying it would tell entrepreneurs that "their ideas and innovations aren’t welcome" in the UK.
Hallas added: “This has only been possible because of the startup community uniting with a clear voice about how detrimental it would be to the UK."
A report in the Times said that one government source said the levy was not likely to go ahead, although another said no final decision had been made.
14/11/2025 09:10 AM
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With users reporting 24% productivity gains, Lative secures €6.4 million to scale its AI-driven sales planning tool
Dublin’s Lative, an AI sales planning platform for sales and go-to-market teams, today announced it has raised €6.4 million in funding to boost product development and expand its go-to market.
The round, co-led by Act Venture Capital and Senovo VC, has also been backed by Elkstone, Enterprise Ireland, WestWave Capital, Handshake Ventures and Shuttle. Industry clients include Seismic Intercom, Aiven, Avalara and Version 1.
“We saw the same issue over and over again, in every company we worked in – sales planning was slow, manual, and stuck in spreadsheets,” said Werner Schmidt, co-founder and CEO of Lative. “We built Lative to change that, and to give sales teams real-time visibility and confidence so every decision is informed, not guessed in this critical activity for go to market organisations. Every sales organisation needs to plan and track execution, and it’s mainly done in spreadsheets today. Now there’s a better way.”
In the European AI-for-sales and go-to-market automation space, Lative’s raise sits within a modest but visible wave of 2025 investment activity.
Adjacent firms such as Barcelona-based Remuner, which secured €5.5 million to expand its AI-driven sales compensation platform, Ghent-based Bizzy, which raised €4 million to scale its AI Sales Agent, and Stockholm’s Spiich Labs, which secured €600k to automate B2B sales workflows, highlight growing investor interest in tools that streamline commercial operations.
None, however, directly overlap with Lative’s focus on AI-enhanced sales planning and execution.
With roughly €16.5 million of disclosed funding in this broader segment so far in 2025, Lative’s round stands out both in scale and in adding an Ireland-based entrant to a space otherwise dominated by companies in Spain, Belgium, and Sweden.
“Lative is driving a paradigm shift to sales planning and optimisation teams that is long overdue. By helping teams identify what’s working and what isn’t in real-time, problems are identified before they become too large to manage,” said Dr Alexander Buchberger, Partner at Senovo.
Founded in 2022 by Werner Schmidt and Laura Tortosa Sancho, Lative connects sales strategy with real-time execution through a closed-loop system that turns insights into action, planning with precision and executing with confidence.
The founders recognised a common pain point: manual, fragmented sales planning that lacks real-time visibility and tracking execution. Frustrated by high-performing teams wasting time on outdated spreadsheets and models, Schmidt and Sancho created Lative to deliver real-time sales intelligence and automated planning with AI.
For end users, this means smarter planning, instant insights, and the ability to make faster, better decisions with customers seeing up to 24% increases in sales productivity across segments.
“RevOps leaders love Lative when they see it. New AI Consumption models now need better tooling to manage complexity. Lative helps industry leaders like Seismic, Intercom and Version 1 see true sales productivity and capacity in real-time to deliver efficient growth. Werner, Laura, and their team are defining a new category with an exciting AI roadmap,” said Andrew O’Neill, Principal at Act.
Instead of juggling multiple sheets, models and disconnected tools, Lative unifies the sales planning process in one cloud-based platform by connecting top-down targets and quota plans with bottom-up sales productivity and capacity.
Teams can model and simulate future org designs to have the most effective sales team for achieving revenue goals, adjust plans in real time, and gain clear visibility into sales productivity and efficiency through AI Insights.
This allows them to make smarter hiring and investment decisions based on data rather than assumptions, identify risks and opportunities before they impact revenue, and track execution with confidence.
“Lative allows us to see our productive sales capacity in real-time which is fundamental to how we scale the business and invest in the right areas to accelerate growth,” said Mathieu Cognac, Vice President of Revenue Operations at Seismic.
The sales performance management market, valued at over $2.3 billion in 2023, is projected to exceed $7 billion by 2030, showing the demand for solutions that automate and optimise sales execution.
In just 15 months, Lative has achieved 10x growth, forging strategic integration partnerships with data platform leaders Salesforce, HubSpot, and Snowflake to enable seamless data sharing for revenue teams.
Forgis, a Zurich-based startup developing software to automate industrial machines, today announced a €3.8 million ($4.5 million) pre-Seed funding round to continue projects underway in the automotive and advanced manufacturing sectors.
The round was led by redalpine, with participation from Massimo Banzi, co-founder of Arduino, and other investors from DeepTech and manufacturing.
“Minimising downtime, maximising throughput, and reducing quality scraps have always been critical challenges for manufacturers,” said Federico Martelli, CEO of Forgis. “But with systems built 40 years ago, factories keep losing millions. We’re bringing state-of-the-art physical AI to the factory floor, where it actually matters.”
The funding round for Forgis comes at a time when European industrial automation and physical-AI startups are drawing sustained investor attention.
In Switzerland, mimic raised €13.8 million to advance dexterous robotic manipulation, reinforcing the country’s growing activity in advanced robotics. Germany also recorded notable rounds with Energy Robotics, which secured €11.5 million for autonomous inspection software, and in.hub, which closed a seven-figure round to expand its plug-and-play IIoT tools. Italy’s Adaptronics added €3.15 million for its electro-adhesive robotic grippers, while in adjacent automation Spain’s HappyRobot raised €37.7 million to scale its AI-driven digital workforce platform.
With over €65 million disclosed across these 2025 rounds, Forgis’ pre-Seed investment sits within a wider European effort to strengthen industrial intelligence, with Switzerland standing out as one of the more active markets this year.
“It’s a revolution built from the inside out,” adds Camilla Mazzoleni, CPO of Forgis. “We’re not replacing legacy systems or industry standards. We plug into what’s already there and upgrade every inefficient step with advanced intelligence”.
Founded in 2025, Forgis develops edge software that makes industrial machines autonomous, collaborative, and intelligent. It connects machines, PLCs, and robots across brands into a unified layer that adapts and evolves production logic, creating self-improving systems reportedly capable of diagnosing and solving inefficiencies autonomously.
Federico Martelli, Camilla Mazzoleni, and Riccardo Maggioni- from ETH Zurich and St. Gallen, ex- Google, Bain, and IBM – founded Forgis to modernise industrial operations by making factories intelligent, collaborative, and flexible. Its software runs “digital engineers” that allegedly improve production performance in real time.
In early pilots with European manufacturers, Forgis has reported configuration times reduced by up to 60%, downtime by 30%, and throughput increases of around 20%.
“We closed in 36 hours because the conviction was mutual,” says Gianmarco Hodel, Investment Manager at redalpine. “This is what Europe needs more of: speed, belief, and boldness.”
According to the company – during the last decade, China’s industrial robot stock grew from 200k to 2 million, 567 per 10 thousand workers surpassing Germany, the US, and the UK combined. Forgis wants to help the West close the industrialisation gap, not through protectionism, but through intelligence.
“We’re bringing production back to the West by adding an intelligent software layer to existing factory ecosystems,” said Riccardo Maggioni, CTO of Forgis. “This way, reshoring becomes the smarter, not the costlier, choice.”
Forgis is already working with IBM and has projects underway in the automotive and advanced manufacturing sectors. The company’s platform integrates with existing systems from vendors such as Siemens and ABB, making complex industrial environments more flexible and efficient.
T-Therapeutics, a British BioTech company developing next-generation T cell receptor (TCR) therapeutics for cancer and autoimmune disease, today announced the successful expansion of its Series A financing, raising a further €27.5 million ($32 million).
New investors Tencent and BGF joined the Series A syndicate, alongside all existing major shareholders Sofinnova Partners, F-Prime, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures and the University of Cambridge Venture Fund.
Following the initial €50.7 million ($59 million) raised, this brings the Series A total to date to €78.2 million ($91 million).
Theodora Harold, CEO of T-Therapeutics, said: “Our transformative medicines tackle upstream disease-drivers that can have pan-indication impact. We are delighted to have significantly added to our Series A financing, which we see as a strong validation of both our technology and our progress to date. I would like to thank Tencent and BGF for their belief in our potential, as well as all our existing investors for their continued support.”
This Series A extension positions the UK-based BioTech within the broader 2025 European immuno-oncology funding landscape.
In France, Adcytherix secured €105 million to advance its antibody–drug conjugate pipeline, while Spain’s Adaptam Therapeutics raised €3 million to progress therapies targeting immunosuppressive myeloid cells.
Although these companies operate in adjacent rather than identical modalities, they collectively indicate persistent investor interest across European immunotherapy and oncology innovation in 2025.
Together, these rounds represent roughly €108 million of capital flowing through the sector, underscoring that T-Therapeutics’ cumulative €78.2 million Series A constitutes a significant proportion of visible activity this year.
Graziano Seghezzi, Managing Partner at Sofinnova Partners, said: “The existing investors co-founded T-Therapeutics to push the boundaries of bispecific technology. This additional capital enables us to expand into T cell subset depletion, one of the most exciting areas in immunology, while continuing to advance oncology programmes.
“We are now ideally positioned to address both cancer and autoimmune disease, two broad disease areas with critical unmet medical needs, with a platform that unlocks targets previously considered undruggable.”
Founded in 2022, T-Therapeutics is a next-generation TTCR company spun out from the University of Cambridge. The company was created to harness the power of T cell biology, to create safe and effective treatments for cancer and autoimmune disease.
T-Therapeutics’ team combines world-leading expertise in mouse genome engineering, single cell genomics, biopharmaceutical drug development, machine-learning and structural biology, anchored in a culture of creativity and collaboration.
T-Therapeutics’ TCR platform, OpTiMus, can reportedly generate an almost unlimited repertoire of high specificity, fully human TCRs, enabling access to validated, but previously undruggable, intracellular targets.
The Company also leverages its proprietary next-generation CD3 T cell engagers (TCEs), which have been engineered for high potency, superior safety and favourable pharmacokinetics. OpTiMus-derived TCRs are combined with the proprietary TCEs to form first-in-class bispecific drug candidates.
T-Therapeutics’ pipeline is focused on upstream disease-drivers with pan-indication potential to deliver significant clinical benefit for patients.
Luke Rajah, Partner at BGF, added: “This is a leadership team with an outstanding track record of building successful drug discovery businesses and translating science into medicines. Backed by a syndicate of world-class life sciences investors, T-Therapeutics is uniquely positioned to unlock previously undruggable targets with its first-in-class bispecifics. We are proud to support the team and help catalyse their programmes towards the clinic.”
T-Therapeutics will use the additional proceeds to drive its pipeline of first-in-class TCR-CD3 bispecifics across oncology and autoimmune diseases towards the clinic, including the further exploration of new therapeutic strategies such as T cell subset depletion.
Their lead asset in oncology exploits a pan-tumour driver target, applicable across multiple different solid tumour types. Its lead immunology programme is a pan-autoimmune bispecific designed for precision immune reset, achieved by the selective depletion of pathogenic immune cells.
Acurast, the first decentralised physical infrastructure network (DePIN) that turns smartphones into a global mesh of verifiable, confidential compute, today announced that it has raised a total of $11 million to date.
Acurast is redefining compute by utilising billions of smartphones – no data centres required. This verifiable, scalable, and confidential compute network enables users to run secure applications on decentralised infrastructure at scale — without compromising speed or privacy.
The $11 million total combines non-dilutive grants and token-based rounds across 2023-2025, including an oversubscribed public token sale on CoinList in May 2025, which raised $5.4 million.
Acurast’s backers include notable angels such as Dr. Gavin Wood (Co-founder, Ethereum; Founder, Polkadot), Leonard Dörlochter (Founder, peaq), Michael van de Poppe (Founder, MN Capital), Scytale Digital, Ogle (Founder, GlueNet; CoinDesk’s Most Influential), and Vineet Budki (CEO, Sigma Capital).
The company also confirmed that its Genesis Mainnet will become publicly available on November 17, 2025, alongside the debut of its native $ACU token.
Alessandro De Carli, Founder of Acurast, said:
“Mainnet marks the moment Acurast becomes a genuinely open, global compute fabric ready for real-world integration.
Billions of smartphones are the most battle-tested hardware on earth. By turning idle phones into verifiable, confidential compute, we remove the gatekeepers, reduce the costs, and bring secure, trustless computation to anyone, anywhere, and all without a data centre.”
Acurast’s product traction has been proven in an incentivised testnet that reached enterprise-grade scale. Over 146,443+ phones have been onboarded to supply compute; developers have executed more than 85,784+ deployments; the network has processed upwards of 489M+ million on-chain transactions; and 179,000 on-chain accounts have been created.
These real devices are already powering mission-critical workloads with strict confidentiality and integrity requirements. This is supported by programs like the Cloud Rebellion, which expand the network’s overall footprint while rewarding early contributors for their efforts.
At the core of Acurast’s advantage is the combination of tamper-resistant execution on consumer phones and secure hardware verification. Unlike raw compute marketplaces that rely on self-reported server specifications (or server-based TEE solutions), Acurast cryptographically verifies each device’s authenticity and executes workloads within enclaves. This process ensures that even the device owner cannot access sensitive data, resulting in censorship-resistant, highly distributed compute.
Vineet Budki, CEO of Sigma Capital, said:
“Acurast is creating a new, user-owned compute layer that aligns perfectly with where AI is heading.
Hardware verification, enclave-based confidentiality, and a massive potential footprint of smartphones combine into a defensible moat that server-centric models can’t compete with.”
“What stands out about Acurast is execution. They’ve shipped, they’ve grown real usage, and they’ve proven demand before mainnet,” said Michael van de Poppe, Founder of MN Capital.
“Turning everyday phones into revenue-generating, verifiable compute nodes is a powerful unlock for inclusion and for scale. We’re excited to back a team that’s building for real-world adoption.”
13/11/2025 03:10 PM
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Harbinger raises $160M, will build trucks for FedEx
Semiconductor pioneer FMC has raised €100 million to set new standards in memory chips with its highly innovative technology.
The €77 million in equity comes from FMC's oversubscribed Series C financing round, which is backed by prominent existing and new investors and ranks among the largest raise of its kind in the semiconductor industry.
An additional €23 million has been sourced through public funds, including contributions from the IPCEI ME/CT program and the European Innovation Council (EIC).
Memory chips have become a strategically crucial technology that is currently being dominated exclusively by South Korea, the US, and Taiwan, with China rapidly catching up.
So far, Europe has not had a significant presence in this critical semiconductor segment. With FMC, a credible player is now emerging in Silicon Saxony with the ambition to close this strategic gap from within Europe.
Based on the thin-film material hafnium oxide, the company has created a new class of memory cells with its DRAM+ chip – more sustainable, faster, and cost-efficient. Thanks to its extremely low power consumption, the technology significantly reduces the energy demand of AI data centres, laying the foundation for their scale-up in Europe and worldwide.
According to Thomas Rückes, CEO of FMC, the company is working on the next generation of memory chips and system solutions that are not only more sustainable and energy efficient, but also faster and less expensive than the current industry standard:
“While bandwidth has so far been the dominant metric of AI compute, energy efficiency is now becoming the key factor for the next generation of AI. “
Rückes asserts that memory chips are the main bottleneck in the AI stack.
“FMC's DRAM+ and 3D CACHE+ technology addresses precisely this issue: Faster and more energy efficient than established products.
This lays the foundation for scaling up AI data centres and AI edge applications. Securing an equity financing of this magnitude emphasises the significance of our technology, and we are grateful to have earned the trust of leading deep-tech investors for our vision."
The equity round is led by HV Capital and the DeepTech & Climate Fonds (DTCF), along with Vsquared Ventures. Returning investors include eCAPITAL, Bosch Ventures, Air Liquide Venture Capital, M Ventures (Merck), and Verve Ventures.
Fabian Gruner, Partner at HV Capital, said:
"FMC's highly innovative memory chip technology is unique and has the potential to redefine global industry standards. We are proud to back its commercialisation through our commitment."
Even with the planned expansions of energy capacity, AI data centres are expected to consume a very large share of global energy production in the future.
FMC's innovative persistent DRAM+ and 3D-CACHE+ memory technologies and systems can significantly reduce this energy consumption by minimising and optimising the data transfers between compute hierarchies, which account for a substantial portion of energy use, thereby increasing compute efficiency.
When FMC's technologies replace conventional memory, system efficiency for high-performance databases and processing speed for energy-efficient AI applications could improve by more than 100 per cent.
This is possible because persistent DRAM+ and 3D-CACHE+ technologies replace volatile memory, eliminating time-consuming data transfers between volatile, fast, and slower non-volatile storage.
FMC is commercialising its DRAM+ and 3D-CACHE+ designs and products in collaboration with leading DRAM memory chip companies and advanced logic foundries in high-volume 300mm production fabs worldwide for specific, energy-efficient customer applications in the near future.
FMC's technology also has disruptive potential to achieve higher memory densities than conventional memory solutions.
The fresh funding will accelerate the commercialisation of the company's DRAM+ and 3D CHACHE+ memory chips and system solutions and expand its global presence.
13/11/2025 02:10 PM
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Germany’s FMC lands €100 million as Europe pushes to reduce reliance on US and Asian memory suppliers
Dresden-based semiconductor innovator FMC has raised €100 million to reduce the energy demand of AI data centres with its sustainable and cost-efficient memory chip – ranking among the largest raise of its kind in the semiconductor industry.
The €77 million in equity comes from FMC’s oversubscribed Series C financing round, led by HV Capital and the DeepTech & Climate Fonds (DTCF), along with Vsquared Ventures. Returning investors include eCAPITAL, Bosch Ventures, Air Liquide Venture Capital, M Ventures (Merck), and Verve Ventures. An additional €23 million has been sourced through public funds, including contributions from the IPCEI ME/CT programme and the European Innovation Council (EIC).
Thomas Rückes, CEO of FMC, said: “We are working on the next generation of memory chips and system solutions that are not only more sustainable and energy efficient, but also faster and less expensive than the current industry standard. While bandwidth has so far been the dominant metric of AI compute, energy efficiency is now becoming the key factor for the next generation of AI.”
This €100 million raise by the Dresden-based memory-chip company can be viewed alongside several other 2025 European semiconductor and AI-infrastructure rounds reported by EU-Startups.
Q.ANT (Stuttgart, Germany) secured €62 million in July 2025 to advance its energy-efficient photonic processors for AI and HPC workloads. In France, Arago raised €22.1 million (Seed, July 2025) to develop its light-powered AI chip built to cut compute-related energy demand. Meanwhile, Scintil Photonics (Grenoble, France) closed a €50 million Series B in September 2025 to scale its integrated photonics platform designed for AI factories.
Together, these rounds represent approximately €134 million of capital flowing into Europe’s semiconductor and AI-hardware ecosystem this year.
Against this backdrop, the €100 million round stands out as one of the larger 2025 investments in advanced chip technologies, particularly within the memory-focused segment, contributing further to Europe’s growing capacity in DeepTech hardware.
“Memory chips are the main bottleneck in the AI stack. FMC’s DRAM+ and 3D CACHE+ technology addresses precisely this issue: Faster and more energy efficient than established products. This lays the foundation for scaling up AI data centres and AI edge applications. Securing an equity financing of this magnitude emphasizes the significance of our technology, and we are grateful to have earned the trust of leading deep-tech investors for our vision,” added Rückes.
Founded in 2016, FMC is a leading semiconductor and memory chip company. Based on the thin-film material hafnium oxide, the company has created a new class of memory cells with its DRAM+ chip – allegedly more sustainable, faster, and cost-efficient.
Thanks to its low power consumption, the technology reduces the energy demand of AI data centres, laying the foundation for their scale-up in Europe and worldwide.
FMC is now a fabless company, meaning it designs, develops, and markets its own products while outsourcing production to contract manufacturers (chip foundries).
Fabian Gruner, Partner at HV Capital, said: “FMC’s highly innovative memory chip technology is unique and has the potential redefine global industry standards. We are proud to back its commercialisation through our commitment.”
Even with the planned expansions of energy capacity, AI data centers are expected to consume a very large share of global energy production in the future.
FMC’s innovative persistent DRAM+ and 3D-CACHE+ memory technologies and systems can reportedly reduce this energy consumption by minimising and optimising the data transfers between compute hierarchies, which account for a substantial portion of energy use.
When FMC’s technologies replace conventional memory, system efficiency for high-performance databases and processing speed for energy-efficient AI applications could improve by more than 100%.
This is possible because persistent DRAM+ and 3D-CACHE+ technologies replace volatile memory, eliminating time-consuming data transfers between volatile, fast, and slower non-volatile storage.
Dr Torsten Löffler, Investment Director at the DTCF, said: “By tackling the growing energy needs of AI infrastructure, FMC’s memory technology enables more efficient computing. We are convinced by its technological excellence made in Germany and its strategic role in strengthening Europe’s semiconductor sovereignty.”
Memory chips have become a strategically crucial technology that is currently being dominated exclusively by South Korea, the U.S., and Taiwan, with China rapidly catching up.
So far, Europe has not had a significant presence in this critical semiconductor segment. Emerging in Silicon Saxony, FMC looks to be that credible player with the ambition to close this strategic gap from within Europe.
Paul-Josef Patt, Managing Partner at eCAPITAL, said: “From day one, we have been supporting FMC on its impressive growth journey. Pilot results confirm design wins with leading OEMs, and the roadmap for production and commercialisation is in place. FMC demonstrates that DeepTech from Europe can deliver and has the potential to take the lead in the memory chips of the future.”
The fresh funding will accelerate the commercialisation of the company’s DRAM+ and 3D CHACHE+ memory chips and system solutions and expand its global presence.
London-based Zilch, a consumer payments platform , today announced it has raised over €150 million ($175 million) in debt and equity to increase brand visibility through increased above-the-line (ATL) marketing spend, further product development and platform enhancement, and the exploration of strategic M&A opportunities.
The round was led by KKCG, including participation from BNF Capital, and several other strategic investors. The raise also includes the expansion of its securitisation led by Deutsche Bank.
“In just five years, we have rewired the relationship between brands and their customers, offering a different way to pay that brings mass benefits to both consumers and merchants,” said Philip Belamant, CEO and co-founder of Zilch. “This funding reflects strong confidence in our team, strategy and execution, enabling us to continue scaling at pace. Our newly launched products are already driving outsized growth, and with the support of a world-class group of debt and equity investors, we’re well positioned for the next phase of expansion.”
Against this backdrop – totalling roughly €310 million in the comparable 2025 cohort – Zilch’s raise of over €150 million ranks among the year’s larger announcements.
As another London company, Zilch appears alongside several UK-based peers securing investment in 2025, underscoring continued investor appetite in the region’s payments infrastructure and consumer-facing financial technology.
“In a market where many have found raising capital difficult, the network and strategic leadership of my co-founder, Sean O’Connor, have been instrumental in helping us achieve this outcome and we are excited for the year ahead,” adds Belamant.
Launched in 2020 with a mission to eliminate high-cost credit, Zilch reportedly offers a new type of payments experience combining flexible ways to pay with meaningful rewards.
With over 5 million registered customers, Zilch uses its technology to connect user base with retailers and brands helping them acquire customers more efficiently whilst delivering consumers personalised rewards, benefits and discounts.
Hugh Courtney, Chief Financial Officer added: “Our ability to attract world-class investors at a time when many remain highly selective in their capital deployment is testament to the strength of the business we are building. Future-proof innovation, diversified revenue streams and a highly engaged customer base are all critical factors in our rapid growth and we look forward to working with our shareholders to build on these successes, eliminate high-cost credit and rewire the economics of commerce.”
The successful raise follows the recent launch of two of the biggest products since Zilch’s inception.
Intelligent Commerce, an AI-powered platform that transforms live engagement data into real-time insights, comes in response to the fast-evolving Agentic Commerce landscape and has already become one of the business’ fastest-growing revenue streams.
Zilch Pay, set to launch in H1 2026, will capture an increasing share of consumers’ wallets and enhance the customer experience with a one click checkout experience for Zilch customers.
The business has amassed over 5.3 million customers, many of whom pay with Zilch almost 60 times a year, with its most engaged users doing so daily. Zilch connects these users to thousands of retailers and brands, including the likes of Amazon, eBay, Tesco and Sports Direct, to help them acquire customers more efficiently and increase their sales.
As a result, Zilch has processed over €4.3 billion (£5 billion) of commerce.
Karel Komarek Jr., CEO of KKCG US Advisory commented: “KKCG is all about finding new solutions in established industries and creating sustainable value. Zilch’s impressive track record demonstrates that its approach to using technology to challenge the status quo and re-engineer the credit landscape delivers exceptional value for consumers and businesses. We’re looking forward to being part of this exciting next stage of their journey.”
EU-Startups has covered Zilch multiple times in earlier years, documenting its progression through successive funding rounds. In 2021, we reported Zilch’s €66.7 million raise to advance its Buy Now, Pay Later model, followed a few months later by news of a further €93.4 million secured for continued expansion. Later that year, EU-Startups also covered Zilch becoming what it termed Europe’s fastest “double unicorn” after its €95 million Series C. In 2022, we reported an additional €47.9 million raised to support the continued development of its BNPL infrastructure.
