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The post Weekly funding round-up! All of the European startup funding rounds we tracked this week (Sept. 08-12) appeared first on EU-Startups.

This week, we tracked more than 95 tech funding deals worth over €3.1 billion, and over 10 exits, M&A transactions, rumours, and related news stories across Europe.

In addition to this week's top financials, we've also indexed the most important/industry-related news items you need to know about. If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox. Either way, let's get you up to speed.

? Notable and big funding rounds

?? Mistral bags €1.7B funding round as ASML takes significant stake

?? EcoDataCenter secures €600M for sustainable high-performance AI and cloud growth

?? Fintech Factris secures €100M funding facility

??‍?? Noteworthy acquisitions and mergers

?? Bending Spoons to buy Vimeo in $1.38B deal

?? Hedepy acquires HearMe to become CEE’s largest online psychotherapy platform

?? fonio.ai acquires fluently to strengthen DACH presence

?? Opus acquires Embarc to accelerate early-stage entrepreneurship 

?? Opper AI acquires FinetuneDB for AI model tuning

? Interesting moves from investors

? Claret Capital Partners secures €350M second close for Fund IV

?Quadrille Capital raises €500M to invest in European and US tech

? From Lovable to ElevenLabs: Antler study charts Europe’s fastest-ever unicorn boom

?️ In other (important) news

?? OpenAI to roll out ChatGPT Edu in Greek schools and support startups

? ElevenLabs confirms employee share sale at $6.6BN valuation, double valuation of nine months ago

? BlackRock-backed Scalable Capital wins European banking licence

?? Quantum Systems commits €50M to UK expansion

?? AI coding assistants save UK government workers 28 working days a year, claims government 

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? Recommended reads and listens

?? One year on from Draghi report: Europe’s innovation future hangs on the 28th Regime

? “European startups are asked to run a marathon with their shoelaces tied”

☕ The LAP coffee Berlin backlash: when innovation meets resistance

?? CUTISS secures €57.9M Series C to advance regenerative skin therapies

?? Innovation lives on: European startups shine at IFA 2025

? Beyond the hype cycle: Why retention and community will decide the winners in vibe coding

? European tech startups to watch

?? Kashimi raises $1.36M to expand alternative payment infrastructure

?? Renewcast raises €1M from 2C Venture to accelerate global expansion

?? Saltfish emerges from stealth with $730,000 in initial funding

??  uRoutine raises £555,000 to fight doomscrolling with a ‘productive social network’

?? Eterny raises €400,000 to tackle the problem of forgotten assets

?? Innovate UK backs Hormona with £100,000 grant for menopause diagnostics

PayPal-backed UK fintech Modulr has reported a reduction in annual pre-tax losses of £11m in 2024, as it targets US expansion and pulls back from working with crypto clients.

Modulr provides white-label payment infrastructure for businesses, calling itself an “embedded payments platform”. Modulr, which has an Electronic Money Institution (EMI) licence and employs over 300 people, provides payment services for the likes of Sage, Wagestream and HMRC. Modulr is backed by PayPal's VC arm.

Financial results for Modulr Holdings show pre-tax losses of £11m in the year ending 2024, a reduction compared to losses of £13.9m the year previous. Revenue came in at £52.8m, compared to £47.9m the previous year. Modulr says its losses were funded by its 2022 £83m Series C funding raise and that Modulr remained “well funded” at year-end 2024, with £31m of cash.

Modulr said that during 2024, it focused on client sectors of travel, merchant payments and lending but “ceased active marketing” into non-focus sectors, including crypto, remittance, and consumer banking. Modulr is understood to have previously worked with crypto outfit Ripple but it's unclear how many crypto clients it had. It does, however, have some crypto clients, it said.

It cited the “increasing complexities, risks and costs” of operating in these sectors as the reason for pulling back. Additionally, it cited new Consumer Duty rules, aimed at setting strict standards of consumer protection in financial services, and Authorised Push Payment rules, which it said “disproportionately impact those sectors”.

Separately, the UK fintech said it had made its first international move, securing a contract with a “major" US financial technology firm. Last year, Modulr acquired UK-based accounts payable fintech Nook. 

Modulr processes over 200m transactions and over £100bn of payment value on its platform, on an annualised basis. It has over 240 enterprise and over 4,000 SME customers.

Modulr said: "Our statutory group accounts for 2024 show double-digit growth and a strong balance sheet. We are growing strongly in 2025 and are on track to be profitable.

"We are scaling across a number of verticals and have seen particular growth in payroll, accountancy, travel and lending. In addition, we continue to serve some customers in other sectors, including crypto companies, remittance firms and consumer banking, which continue to become a declining proportion of our revenue."

Startup accelerators can play a crucial role in helping early-stage startups succeed. They are structured, time-limited programmes that typically last a few weeks or months. Accelerator programmes provide startups with mentorship, initial funding, office space and/or access to valuable investor and industry networks. Their goal is to help founders refine their business models, achieve product–market fit, and prepare for growth.

Over the past decade, accelerators in Europe have not just grown in numbers, but the type of available programmes out there, and their focus, is more diversified than ever before. Some are broad in scope, while others specialise in sectors such as fintech, healthtech, sustainability, or Web3. Together, they have become engines of innovation, producing success stories like Klarna, supported early by Sting in Stockholm, or Bolt, which was backed by Startup Wise Guys in Estonia, while strengthening Europe’s position as a global hub for startups.

In this article, we highlight 30 leading accelerator programmes across the continent, organised by country, showcasing the initiatives driving local ecosystems and shaping the future of European startups.

Austria

Hummelnest Accelerator: Founded in Graz in 2023, Hummelnest is the result of the cooperation between Transformation Lighthouse and Raiffeisen-Landesbank Steiermark. Hummelnest focuses its investment in sectors such as the future of work, sustainability, HealthTech, service-based tech (AI, blockchain), data-driven models, and FinTech.

Their programmes are highly personalised to each cohort of around five startups. Participants benefit from mentorship in business strategy, internationalisation, team development, green transformation, and access to corporate and SME partners in the region. At the end of the program, the selected startups become eligible for up to €50k in investment from Raiffeisen‑Landesbank Steiermark. The accelerator does not take equity only if the startup gets the Raiffeisen-Landesbank investment.

Culttech Accelerator: Headquartered in Vienna, Culttech is a six-month programme designed for early-stage startups working at the intersection of culture and technology. Its mission is to make creative culture more accessible and sustainable through innovation, supporting ventures in fields such as visual arts, performing arts, music, film, content and gaming, and cultural heritage.

The programme combines training in networking and communications, business validation, and investment readiness, requiring a weekly commitment of 3–5 hours, mentorship, and in-person meetups at European destinations. Startups gain access to expert mentors, a global community of cultural and creative industry professionals, and the opportunity to showcase at the Culttech Summit during Demo Day. Alumni include ventures such as Staxe, Ambistream, and OwnerChip, which are rethinking the future of creative industries through Web3 and digital innovation.

Female Founders: Launched in 2016 in Vienna, Female Founders is on a mission to create equal opportunities for entrepreneurial women in Europe’s tech ecosystem. It unites a values-driven community of founders, leaders and investors, working through advocacy, events, and education to ensure diverse perspectives are at the centre of building technology for the future.

Its flagship Grow F programme is a five-week, equity-free investment-readiness track for gender-diverse teams, offering expert sessions, hybrid learning, and access to top investors. A €900 commitment fee applies, along with a success fee if participants raise over €300k in equity funding within 15 months of joining. Female Founders also runs the Female Founders Experience (FFX), an exclusive networking event connecting selected founders with investors and ecosystem leaders.

Belgium

biotope by VIB: Based in Deinze, this BioTech accelerator focuses on planetary health. Founded in 2023, it offers pre-seed capital, tailored guidance, and access to a strong network, helping founders secure further funding. Most of their programs last 18 months, ensuring startups are scientifically supported, financially viable, and prepared for scaling, with a focus on intellectual property and regulatory compliance.

Biotope’s main programs include the Agrifood Biotech Program for startups in agriculture, food, and nutrition, and the Basecamp accelerator, which brings together new cohorts each season. The latest Basecamp started in June 2025, emphasising collaboration between technology, biology, and entrepreneurship. Through its Biotope Ventures fund, the incubator typically invests €350k per startup, usually as a convertible loan.

imec.istart: Launched in Ghent in 2011, imec.istart is a university-linked accelerator that provides pre-seed funding and support to tech startups across Europe. Recognised as the world’s first university-linked accelerator, it helps entrepreneurs transform innovative ideas into scalable businesses. They invest in industries such as AI, HealthTech, construction or immersive technologies.

They typically offer pre-seed funding starting at €100k per startup, typically structured as €50k in exchange for 6% equity and €50k as a convertible loan. The core program is the imec.istart Accelerator Program, which combines funding with tailored coaching, access to technology and office facilities, and a strong international network of partners and investors. For founders who may not yet have a proof of concept or minimum viable product, the imec.istart Launch Program offers a 10–12 week track to help them take the first crucial steps toward building their startup.

Birdhouse: Headquartered in Antwerp, the accelerator has grown into one of Belgium’s leading tech startup support engines, with a portfolio of more than 40 startups. Founded in 2016, they support tech startups with a particular focus on AgeTech.

They offer a 12-week accelerator program designed to help startups achieve product-market fit and prepare for funding rounds. The program includes mentorship from experienced entrepreneurs, access to a network of investors and partners, and an initial investment of €85k from Birdhouse Ventures without specified equity. Applications for Birdhouse’s accelerator program are accepted annually, with the next cohort (Cohort 18) set to begin in November 2025.

Bulgaria

Eleven Ventures: Launched in 2012 in Sofia, Eleven supports early-stage technology companies across Central and Eastern Europe. They aim to foster innovation and entrepreneurship, contributing to the region’s economic growth and strengthening its global competitiveness.

Eleven combines capital with hands-on strategic support, focusing on fintech, healthtech, the future of work, and climate and sustainability. The fund usually invests between €300k and €1 million in exchange for around 10% equity, while also connecting startups to a network of more than 250 investors. Its flagship Visa Innovation Program has already produced a unicorn (Payhawk) in less than four years, while creating valuable business opportunities for corporates and startups alike. Another notable initiative, the Elevate Program run with AUBG, has established the first university accelerator in the region, strengthening the pipeline of future founders.

Denmark

Accelerace: Copenhagen-based, Accelerace is an early-stage startup accelerator operating as the first stop for founders looking to launch ventures in the Nordic and Baltic regions. Launched in 2008, they primarily invest in sectors such as Life Sciences, FoodTech, CleanTech, MedTech, and BioTech, supporting young companies with both capital and guidance.

Its flagship initiative, Accelerace Allstars, is a seven-week pre-seed programme where founders refine their fundraising, pitching and storytelling skills while preparing for investor meetings. The programme, open only to startups that Accelerace invests in, offers €134k in funding through a convertible loan. Apart from Allstars, Accelerace also helps run acceleration programmes across Europe, such as Beyond, which is equity-free but can lead to later investment.

GreenUP Accelerator: Founded in 2021 within DTU Science Park, one of Europe’s largest life science clusters, this Kongens Lyngby-based accelerator is a dedicated growth programme for ClimateTech startups focused on CO2 reduction, playing a key role in scaling green innovations from Denmark’s DeepTech ecosystem. GreenUp empowers climate entrepreneurs to transition from early-stage startups to scalable businesses with actual and tangible environmental impact.

GreenUP runs an intensive 20-month cohort model that delivers tailored courses spanning business development, marketing, organisational structuring, IT, legal support, and investor readiness, designed to help startups scale effectively. Each participating startup receives a significant upfront investment of €2 million and non-disclosed equity.

Estonia

Startup Wise Guys: Based in Tallinn, Startup Wise Guys has become a cornerstone accelerator for B2B startups across Europe. Founded in 2012 with a focus on FinTech, cybersecurity, SaaS, PropTech, sustainability, Web3, and defence and security, they empower ambitious founders to scale high-impact ventures through a combination of mentorship, training, and global networking opportunities.

The accelerator¡s programmes are tailored to different stages of a startup’s journey: Building for early teams, Growing for bringing products to market, and Scaling for companies ready to expand. Each track usually runs as a six-month accelerator, sometimes preceded by an eight-week pre-accelerator. While economic terms vary by stage and sector, Startup Wise Guys typically invests around €100k as a convertible investment, with opportunities for follow-on funding.

Beamline Accelerator: Operating out of Estonia with a strong focus on the Baltics and Nordics, Beamline is a six-month cleantech programme dedicated to tackling climate change and environmental challenges. It supports early-stage startups working in energy, smart cities, waste management, carbon capture, and ESG solutions.

Beamline invests primarily at the pre-seed and seed stages, offering up to €60k per startup, alongside tailored mentorship and strategic connections. The programme is supported by the Environmental Investment Centre (KIK) and the EU’s Recovery and Resilience Fund, running both a Deeptech and an Energy Batch. As the official representative of InnoEnergy in Estonia, Beamline connects local pioneers with the wider European energy transition ecosystem. Alumni include HelioRec, Naco Technologies, and Renewcast.

Finland

DEFINE Accelerator: The Defence Innovation Network Finland (DEFINE) runs a three-month accelerator in Riihimäki focused on scaling defence, security, and dual-use innovations. Coordinated by the City of Riihimäki and backed by Redstone VC, DEFINE brings together the Finnish Defence Forces, leading industry partners, research institutes, and startups to strengthen Europe’s defence tech ecosystem.

The programme supports participants in turning their defence and dual-use technologies into scalable businesses by providing mentorship, funding opportunities, and access to global markets. Startups benefit from close collaboration with military stakeholders and industry leaders, ensuring solutions can meet both civilian and defence applications. The third batch runs from August to November 2025, culminating at Slush in Helsinki, one of Europe’s largest tech gatherings.

Northern Light Accelerator: Based at Maria 01 in Helsinki, Northern Light is a three-month programme designed to help international founders land, validate, and scale in Finland and the wider European market. The accelerator combines market access with a strong focus on founder resilience, aiming to reduce burn rates and build sustainable growth.

The programme offers hands-on support to achieve product–market fit, tailored introductions to customers, partners, and investors, and a soft landing into one of Europe’s most vibrant startup hubs. It is equity-free, providing office space, mentoring, and curated connections without taking a stake in participating startups. The first batch launched in autumn 2025, with Demo Day held during Slush week in Helsinki.

Supercell AI Innovation Lab: Run by Helsinki-based gaming giant Supercell, the AI Innovation Lab explores the intersection of gaming and artificial intelligence. This 11-week programme, held at Supercell’s offices, supports visionary founders and small teams building AI-powered gaming products that push the boundaries of entertainment.

Participants receive hands-on guidance from world-class gaming experts, uncapped resources to test and iterate, and access to Supercell’s global network. The programme culminates in a Demo Day, and promising teams may continue working with Supercell after graduation. Alumni include projects in AI-powered companions, open-world role-playing games, and AI-driven content platforms, with several continuing to develop under Supercell’s support.

France 

STATION F: Since its founding in 2017 in Paris, Station F has brought together more than 1,000 startups each year, establishing itself as a leading tech hub in Europe and home to the continent’s largest AI startup community. The campus supports founders by providing physical space, mentorship, funding opportunities and events.

Alongside over 30 programmes run in partnership with corporates, schools and networks, Station F also manages several in-house initiatives. Some of their programmes are: The Founder Program, which lasts between three and eighteen months, is designed to fast-track startups to leading VCs, with the possibility of receiving funding directly from Station F. The Fighters Program is a two-round track created for founders from less privileged backgrounds, while the Landing Zone serves as an entry point for early-stage startups wishing to discover Station F before committing to a programme. In addition, Station F invests directly in up to 20 companies per year, offering cheques ranging from €50,000 to €100,000 and takes 1% in equity.

HUB612: Launched in 2016 for early‑stage B2B startups, HUB612 is a Lyon-based accelerator and part‑investment fund structured as a subsidiary of Caisse d’Épargne Rhône‑Alpes, a regional banking group. HUB12 mainly invests in FinTech, InsurTech, SaaS, digital transformation, AI, and blockchain. They promote entrepreneurial growth by providing startups with workspace, funding, and mentorship, and backed by a trusted regional bank, their goal is to encourage long-term scaling of B2B tech startups.

HUB612’s main program, “Start to Scale,” is a five-month program for startups in the growth phase, designed to help startups that want to structure their organisation to support future growth. And “Accelerate Support” to boost startups in the hypergrowth stage. Every year, HUB612 invests in 6-8 seed-stage startups with initial tickets from €50k to €500k. However, it doesn’t mention the equity percentages.

SpaceFounders: Founded in 2021, SpaceFounders is a European NewSpace accelerator launched by leading institutions, including CNES, the Italian Space Agency, and the University of the Bundeswehr Munich. With hubs in Toulouse, Munich and Turin, it aims to fast-track the growth of Europe’s most promising space technology startups, fostering innovation in areas such as satellites, launch systems, data services and deep-tech applications.

The three-month programme runs twice a year and combines bootcamps, mentoring, and networking with investors, agencies and industry leaders. SpaceFounders does not take any equity. The program is free to attend and fully sponsored by their three implementing partners. SpaceFounders also has a dedicated VC fund based in Paris, which operates independently of the accelerator. They selectively invest in some of the alumni companies, though not all, and participation in the program does not require or guarantee investment.

Germany

AI.STARTUP.HUB: Based in Hamburg, this programme supports AI startups across Northern Germany with a mix of incubation, acceleration, and internationalisation support. The six-month accelerator offers tailored modules in investor readiness, product development, go-to-market strategies, and scaling, while also providing access to Hamburg’s wider AI ecosystem of corporates, research institutions, and investors.

The programme accepts startups from pre-seed to growth stages and focuses on fostering innovation in artificial intelligence across multiple industries. In addition to one-to-one coaching, workshops, and mentorship, participants benefit from corporate matching opportunities and connections to international markets, particularly in the US and Asia, through partnerships with German Accelerator and other networks.

BRYCK: Headquartered in Essen and launched in 2022, BRYCK positions itself as a flexible platform for startups tackling challenges in energy, health, livable cities, and hydrogen. Rather than a single programme, BRYCK runs several tracks tailored to a startup’s stage, including a 10-week Startup Sprint, an 8-week Startup Booster, intensive 5-day Bootcamps, and a Venture Client programme that connects startups directly with corporate partners.

Participation is free and equity-free, ensuring accessible support for founders. Through its extensive mentor and partner network spanning over 30 industries and 20 countries, BRYCK has already supported more than 80 European startups, many of which have gone on to secure funding or corporate collaborations.

UnternehmerTUM: Since 2002, in partnership with the Technical University of Munich (TUM) and entrepreneur Susanne Klatten, UnternehmerTUM has supported startups in DeepTech, ClimateTech, Mobility, Industrial Technologies, and Software/AI from its headquarters in Munich. Its mission is to turn technological research into market-ready companies by providing mentorship, tools, and ecosystem access.

Its startup programmes include the XPRENEURS Incubator, a three-month accelerator with two cohorts per year and up to €5k in prototyping support; XPLORE, a free online or hybrid programme for idea validation; TechFounders, a five-month accelerator for startups with a working prototype and first customers; and TUM Gründungsberatung, tailored guidance for TUM students and scientists. Through its venture capital arm, UVC Partners, UnternehmerTUM invests between €1 million and €10 million per round.

SpinLab – The HHL Accelerator: Founded in Leipzig in 2014, SpinLab has grown into one of Europe’s leading startup accelerators, supporting technology-driven ventures in sectors such as energy, smart cities, and health. Its mission is to support scalable growth across Germany and beyond by providing tailored mentorship, operational support, and access to a strong partner network built around industry collaborations.

SpinLab’s flagship programme is a six-month accelerator that offers startups €6k in non-dilutive funding to cover early expenses, along with free office space, coaching, and access to pilot projects with corporate partners. Startups can also compete for several awards supported by the city of Leipzig, and the programme culminates in an Investors Day, giving participants the chance to pitch to the wider investor community. Beyond the programme, alumni can continue to use SpinLab’s co-working space, and funding opportunities are available through Smart Infrastructure Ventures, an associated VC fund that invests up to €500k and may participate in future rounds.

ProVeg Incubator: Since its launch in late 2018 as an initiative of ProVeg International, the ProVeg Incubator has distinguished itself as the world’s leading incubator for plant‑based, fermented, and cultivated‑food startups. This Berlin-based incubator aims to reduce the global consumption of animal products.

ProVeg runs an accelerator programme of 5 months that provides each participating startup with up to €270k in funding, including €69k in expert-led workshops, use of Berlin-based co-working, test kitchen and event facilities, and ongoing strategic guidance through an extensive global network. The programme also includes mentorship from over 100 industry experts and culminates in a Demo Day to connect founders with potential investors and partners.

Hubraum Tech Incubator: Since its founding in 2012, hubraum has served as a bridge between early‑stage startups, companies and telco giants. Operating from innovation campuses in Berlin, Kraków, and Tel Aviv, its mission is to drive new business opportunities by focusing on emerging technologies such as 5G, AI, the Internet of Things (IoT), XR, and DeepTech in a broad sense.

Hubraum has many programmes, such as the Digital Innovation Program and First Mover API Program, both currently open for applications, alongside past initiatives like the AI Co‑Creation Program aimed at accelerating AI‑centric startups. Its campuses in Berlin and Kraków feature state‑of‑the‑art facilities, including 5G test labs, 3D printers, edge computing infrastructure, VR rooms, and makerspaces, where startups can test, refine, and scale solutions in real-world settings. Complementing this hands‑on support, hubraum also provides early‑stage financing through its investment fund, coworking space, expert mentoring, and direct access to Deutsche Telekom’s business units and networks, enabling startups to pilot and integrate innovations effectively. They don’t take equity.

Hungary

Rocket Up: Coordinated under the EIT Community’s Supernovas initiative, Rocket Up is a programme dedicated to supporting women-led technological ventures with international expansion. Based in Budapest, it helps growth-stage startups in sectors such as mobility, food, and manufacturing to enter new European markets seamlessly.

The six-month accelerator combines market analysis, strategy design, and tailored mentorship to guide participants through the process of identifying the right market, validating their product locally, and planning a successful entry strategy. Startups benefit from insights from business experts, peer-to-peer learning, and access to a European-wide network of investors and partners. By addressing gender imbalances in the tech ecosystem, Rocket Up aims to empower more women founders to scale globally and become role models for future generations.

Italy

Fashion Technology Accelerator: Founded in 2014 and based in Milan with a presence in London and Doha, Fashion Technology Accelerator (FTA) is a specialised investment and accelerator platform dedicated to fashion, luxury, and retail startups powered by digital innovation. They aim to advance the fashion industry through new business models and technology. FTA partners with global players like Hatcher+ to back top-tier fashion-tech ventures and shape the future of style.

FTA’s flagship Acceleration Programme spans six months and provides participating startups with €40k in cash plus €60k worth of services in exchange for a 10% equity stake. The programme supports revenue growth through business development, marketing, fundraising strategy, and industry introductions, leveraging a network of seasoned mentors and fashion-technology experts.

Techstars Transformative World Torino: Launched in Turin, this accelerator is part of Techstars’ global network and focuses on companies driving fundamental transformation and impact across industries and geographies. It brings together founders working on solutions in areas such as smart mobility, artificial intelligence, blockchain, and sustainability, while leveraging Italy’s growing innovation ecosystem.

The programme runs annually and follows Techstars’ well-known 13-week format, offering intensive mentorship, tailored support, and investment of up to €120k in exchange for 6–10% equity. Participants benefit from access to more than 120 mentors, including industry experts, investors, and corporate partners such as Compagnia di San Paolo, Fondazione CRT, and ISP Innovation Centre. The accelerator culminates in a Demo Day in Turin, where founders pitch to investors, corporates, and the wider ecosystem. Alumni include startups such as Sheeva, NATIX, Hive Power, Deliverart, and Wiseair.

Lithuania

FIRSTPICK: Founded in 2022 in Vilnius, FIRSTPICK is both a high-speed VC fund and an accelerator dedicated to supporting early-stage tech startups across the Baltics. With a focus on fintech, SaaS, deeptech, and consumer marketplaces, it aims to be the “first pick” for founders looking to turn ideas into scalable businesses.

The accelerator provides ticket sizes ranging from €50k to €250k, coupled with mentorship, early market access, and support from a growing community of experts and partners. Backed by private investors and Lithuania’s state-financed ILTE fund, FIRSTPICK has already invested in more than 38 startups, including notable names such as Samphire Neuroscience, Cyber Upgrade, and Handwave. Its mix of capital and acceleration makes it one of the most active startup engines in the Baltic region.

Netherlands

Rockstart: This early-stage accelerator and venture capital firm, founded in 2011 with offices in Amsterdam, Copenhagen, and Bogotá, supports startups across multiple sectors. It focuses on three core domains: Energy, AgriFood, and Emerging Technologies. They aim to accelerate the transition to a regenerative and sustainable future by boosting startups with expertise, investor networks, and operational support.

The accelerator offers tailored programmes that combine strategic mentorship, expert-led sessions, and market access with direct investment opportunities. Each programme typically lasts six months, though some may extend to a year depending on the cohort’s focus and needs. Startups accepted into Rockstart receive an initial investment through a SAFE (Simple Agreement for Future Equity), with the possibility of follow-on funding. Rockstart can continue investing in subsequent rounds up to Series B, with a total commitment of up to €2 million per company.

Startupbootcamp: Since its creation in 2010, and with its headquarters in Amsterdam, Startupbootcamp has grown into a global accelerator network with more than 150 programmes in over 20 countries and a portfolio of 1,600+ startups. It supports founders by providing deep industry expertise, access to a worldwide mentor and investor community, and strategic corporate partnerships.

Its flagship three-month accelerator offers coworking space in the host city, mentorship from hundreds of industry experts, curated investor introductions and corporate engagements, and culminates in an “Impact Day” pitch event. With an acceptance rate of just 1%, the programme has earned recognition as Europe’s leading accelerator and a pioneer in sustainability. Startups typically receive €25k in funding plus over €100k in partner perks in exchange for 6–8% equity.

PortXL: Launched in 2015 in Rotterdam, PortXL has established itself as one of the first maritime startup and scaleup accelerators. It operates in the B2B sphere, PortXL brings together startups, scaleups, corporate partners and mentors all collaborating to disrupt sectors such as maritime, logistics, green energy and process industry

PortXL runs a three-month acceleration program, where PortXL assesses, interviews, and selects the startups that will start the programme. The program consists of three weeks where participants get access to the PortXL network, industry mentors, and tailored training. It culminates in a Grand Finale, a showcase of participants’ innovation and progress. They don’t take equity.

Portugal

Lisbon Challenge: Founded as part of Beta-i, Lisbon Challenge is an accelerator aimed at empowering early-stage tech startups through a founder-centric approach. Launched in 2009, Lisbon Challenge has become a benchmark in Lisbon’s startup ecosystem, offering mentorship, structured methodology, and guidance to help startups achieve investment readiness.

The programme runs twice a year and begins with an intensive 10-week phase, followed by six months of continued support. The programme culminates in an Investment Day, where founders pitch to investors and selected startups gain access to incubation, extended mentorship, and potential long-term investment partnerships. Lisbon Challenge investment partners offer €70k for 7% of equity.

Spain

La Nave: Based in Madrid and supported by the City Council, La Nave is one of Spain’s largest innovation hubs. Its six-month acceleration programme targets startups with at least a minimum viable product (MVP) across six verticals: Smart City, eHealth & Sportstech, Sustainability & Circular Economy, EdTech, Fintech & Insurtech, and Retail, Tourism & Hospitality.

Selected startups gain free access to workspace, structured training, intensive mentoring, and La Nave’s active investor network. The programme also provides visibility through demo days, media coverage, and major national innovation events, making it a recognised launchpad for scaling within Spain and beyond.

Lanzadera: Based in Valencia and launched in 2013, Lanzadera has supported over 1,600 startups, earning recognition as Spain’s top startup hub. Its mission is fueled by a philanthropic vision, providing startups with funding, resources, and business know-how, aiming to boost job creation and sustainable startup growth in the country.

Its acceleration programme runs for six months, during which startups gain exposure to a network of fellow entrepreneurs and companies. They benefit from talks, training and personalised mentoring. Applications are currently open for the December cohort. Investment is managed through Angels, Lanzadera’s sister fund, which typically backs graduates of the programme with €200k in funding in exchange for a 7% equity stake.

Sweden

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Patents are the backbone of protecting innovation, yet the process of securing them in Europe can take years and cost founders precious time and money. 

Swedish startup Lightbringer, founded in 2023, believes it has a better way. 

I sat down with CEO and co-founder Dominic Davies to hear how his journey from software engineer to patent attorney — and a breakthrough moment with GPT-3 — sparked the creation of a category-defining legaltech company. 

Lightbringer aims to transform how patents are created and managed. It combines AI-powered tools with experienced patent attorneys to offer a faster, clearer, and more accessible patent process for innovators, startups, and tech teams.

I spoke to CEO and co-founder Dominic Davies to learn more.

A eureka moment with GPT-3 sparked Lightbringer’s creation

Davies originally studied software engineering at Imperial College London and started out working for Merrill Lynch. He admits,“after a few years in banking, I realised it wasn’t as exciting as I’d hoped. I wanted to work with cutting-edge technology, and one route was through intellectual property. So I retrained as a patent attorney at the world’s oldest patent firm in London and became fully qualified.”

Over the past 20 years, while practising as a patent attorney, he continued writing software to solve problems in his field. At one point, he founded a law firm called Invent Horizon, where he developed software to automate all administrative work so that the firm could operate with only lawyers and no administrative staff. 

He had also been working for years on software to write patents. 

According to Davies, “for nearly a decade, it didn’t work — the AI just wasn’t good enough yet.” 

“Then, in 2022, I read that GPT-3 was available via API. I plugged it into my project, and suddenly it sprang to life. 
That moment was both euphoric and terrifying. Euphoric because the software finally worked. 

It was terrifying because I immediately realised the key problem I’d spent ten years grappling with — and that underpinned my career—had just been solved. I couldn’t sleep for a month.

Eventually, I decided I had to act. I approached a couple of former founders, showed them a demo, and they said right away: “Let’s build this.” 

That was the beginning of Light Bringer.

Slow, costly, complex: the reality of filing a patent in Europe

The current patent process looks something like this:

Imagine you’re building a product and preparing to show it to customers, partners, or investors. Someone advises you that unless you file a patent application, you won’t be able to protect your technology.

All in all, patents are a laborious process. The European patent grant procedure takes about three to five years from the date your application is filed. It is made up of two main stages. 

The first comprises a formalities examination, the preparation of the search report and the preliminary opinion on whether the claimed invention and the application meet the requirements of the European Patent Convention. 

But before you get to filing your patent, you usually need to find a patent lawyer. You book a meeting, explain your business and your technology in detail, and only then does the lawyer begin drafting an application.

According to Davies, “it’s expensive because you’re working with highly qualified people, and it’s slow — it usually takes at least a month before you have a draft. The lawyer has to spend significant time building context for your invention and conducting research.”

Reimagining patents with SaaS-style onboarding 

Lightbringer aims to speed up the legal part of the process by replicating the seamless onboarding you’d expect from SaaS tools. 

“Think of signing up for Google or HubSpot—you just create an account and you’re off. That’s what we’ve built for patents,” explains Davies.

On the Lightbringer homepage, inventors can immediately begin describing their ideas. The system guides them through the process, helps them articulate the details, and explains how the patent process works. 

Drafts can be generated within hours instead of months. 

It’s largely self-serve, but with a human in the loop: qualified attorneys review the AI’s work, speak with inventors, and ensure everything is accurate and aligned with their needs.

Since launching its subscription model in May 2024, Lightbringer has already filed more than 100 patents, attracted over 500 users, including founders and legal teams, and achieved a 90 per cent success rate for patents filed within just 30 days. The platform reports 95 per cent user satisfaction and delivers workflows up to ten times faster than traditional drafting processes.

The company’s customers are early adopters, companies that want to buy legal services the way they buy SaaS. According to Davies:

“They’re used to tools like Vanta or HubSpot, so they expect a consumer-like experience. That’s what we deliver.” 

While the company is primarily working with smaller companies right now, it’s built an AI-first virtual patent department that can scale to any company.

Davies admits that the company would love to work more with law firms, but they can be conservative, and there’s an inherent business conflict. 

“Their model is built around billing by the hour, and we’re reducing the time it takes. Some firms are becoming more open, but our core users are technology companies themselves.”

How Lightbringer keeps startup IP safe

I was curious about data security in that founders are essentially putting their intellectual property into a startup’s software platform.

According to Davies, security was a priority from day 1.  Light Bringer is SOC 2 Type II certified. Customer data is protected and segregated. Its contracts with LLM providers, such as Google and OpenAI, ensure that it does not train on customer data:

“We actually have stronger data security provisions than many alternatives.”

That said, the company is very aware of developments — like the New York Times lawsuit against OpenAI that exposed private data — and for that reason doesn’t use OpenAI for certain key functions. 

Light Bringer raised a €4.2 million Seed round in 2024 and is growing quickly. It has over 70 customers, many of whom, explained Davies, previously worked with traditional firms. 

“They love being able to handle patents in a modern way.”

Lightbringer eyes expansion as patent automation takes off

Looking ahead to 2026, Davies believes companies will take a hard look at how they buy business services — legal, accounting, patents — and will demand more modern, efficient options. 

“We’re placed to meet that demand. We also plan to expand to the US, which we see as a key market. For now, our core market is northern Europe and the UK.”

Light Bringer describes itself as “category creators.” According to Davies, investors see what’s coming, sharing:

“They know the way business services are sold is changing, and they see us as well-positioned to grab the market.

It’s disruptive, especially for the patent industry, which could be one of the first legal sectors to undergo major automation.”

AI coding assistants are saving UK government workers 28 working days a year, the government claims, as it looks to leverage AI to save £45bn across the public sector. AI coding assistants are becoming increasingly common in the private sector, and the UK government is hoping to use them to make billions in savings across government departments.

New trial results from the UK government show that government coders and tech engineers have saved almost an hour a day by using AI assistants to help them write code and build new technology. This is equivalent to 28 working days a year, the government said.

The trial involved more than 1,000 tech experts using AI coding assistants across 50 different government departments. They used coding assistants such as Microsoft GitHub Copilot and Google Gemini Code Assist. It helped them build more tech like Whitehall’s Humphrey AI assistant and healthcare tech, the UK government said.

The government said savings from the AI assistants mostly came from using them to write first drafts of code that experts then edit, or using them to review existing code. It said just 15 per cent of code generated by the AI coding assistants was used without any edits.

The results show that 72 per cent of users said the tools offered good value, while over half ( 58 per cent), said they would prefer not to return to working without AI assistance, whilst 65 per cent reported completing tasks faster and 56 per cent said they could solve problems more efficiently.

Technology Minister Kanishka Narayan said: ”This is exactly how I want us to use AI and other technology to make sure we are delivering the standard of public services people expect – both in terms of accuracy and efficiency. With a £45 billion jackpot at stake, it’s not an opportunity we can pass up, as it can help cut backlogs and save money.”

Ukrainian defense technology company Falcons has raised funding from US-based Green Flag Ventures to scale production of its radio frequency (RF) direction-finding system and work toward NATO certification.

Founded in 2022 following Russia’s full-scale invasion, Falcons develops cost-effective systems designed for GPS-denied environments. Its flagship product, ETER (Direction Finder Set), helps detect enemy devices emitting radio signals, including drones, communication equipment, relays, and electronic warfare assets.

According to the company, ETER has already seen combat use and contributed to the destruction of a Russian system valued at around $90 million. Falcons positions the device as a compact, GPS-free alternative that is up to 30–50 times cheaper than comparable NATO systems, with operational coverage exceeding 600 km.

Falcons’ CEO and co-founder Yehor Dudinov, an active-duty serviceman with experience in strategic planning and product management, said the investment demonstrates the wider potential of technologies developed under fire in Ukraine.

The funding will support Falcons in scaling ETER’s production, growing its team of engineers and frontline practitioners, and developing a NATO market-entry strategy.

Green Flag Ventures, co-founded by Justin Zeefe and Deborah Fairlamb, invests in dual-use startups with both defense and civilian applications, with a particular focus on Ukraine’s defense technology ecosystem.

The investment comes as Western investors show increasing interest in Ukrainian defense startups, many of which have rapidly developed solutions in response to wartime needs. NATO nations have also signaled interest in cost-effective and agile alternatives to traditional, often slower-moving defense procurement.

French deeptech company Cailabs has raised €57 million to accelerate its industrial expansion and global growth. The round of structured financing, led by the European Investment Bank (EIB), combines a €37 million financing from the EIB and a €20 million investment from Definvest and Fonds Innovation Defense (Armed Forces ministry and Bpifrance), NewSpace Capital, the European Innovation Council (EIC) Fund, Starquest Capital, and CAIVE.

Cailabs is a deeptech photonics company founded in 2013, operating in France and the United States. Leveraging expertise in photonics and systems engineering, it designs and manufactures laser-light solutions for the space, telecommunications, industrial, and defence markets.

Its portfolio includes turnkey optical ground stations that use atmospheric turbulence compensation to enable high-throughput, low-latency links across space and terrestrial networks, with a focus on precise light control to deliver faster, safer, and more reliable performance.

Commenting on the strategic importance of Cailabs’ work and the rationale for the investment, Ambroise Fayolle, Vice-President of the European Investment Bank, noted that space technologies are increasingly vital for civilian, security, and defense applications:

As the bank of the European Union, the EIB supports Cailabs’ investments in manufacturing capabilities and in research & development of its laser communication technologies.

Fayolle added that the project fully aligns with the EIB’s strategic priorities in security and defence, as well as technological innovation, under its TechEU programme.

Securing this structured financing signals Cailabs’ growing commercial maturity, supported by a backlog of more than ten optical ground stations already under contract.

The funds will accelerate manufacturing scale-up and strengthen the supply chain. A new industrial platform, capable of assembling and validating five stations in parallel, will support the goal of producing up to 50 OGS annually by 2027.

The financing will also support international expansion and advance the product portfolio with turnkey 100+ Gbps solutions, transportable optical ground stations, and expanded orbit coverage.

This funding round reflects our solid fundamentals and the confidence investors have in our strategic vision. It enables us to scale up industrial capabilities and prepare for the next stage of growth,

concluded Jean-Francois Morizur, co-founder and CEO of Cailabs.  

MELP, an employee well-being platform, has raised €1.25 million in a new investment round led by Coinvest Capital and supported by business angels. The fresh funding will be used to strengthen the company’s position in the UK market.

The platform, launched in 2022, enables employers to engage their workforce through personalised benefits, internal communications, recognition programmes, and discounts from various providers. Its name stands for Medical services, Employee benefits, Lifestyle & Longevity, and Protection. MELP is certified to the ISO 27001 standard for information security.

Since its previous funding round in January 2024, MELP has expanded significantly. Its user base has grown from 16,000 to 68,000, and sales have increased more than 2.5 times. In 2025, the company signed an agreement with LTG Group companies to serve over 5,000 employees and implemented an international contract with Affidea Group across 15 European countries, providing access to more than 10,000 employees in 16 languages.

“The company is expanding not only geographically but also by successfully enhancing its functionalities and focusing on innovation through the use of artificial intelligence – from task automation to an interactive intranet for employees,” said MELP co-founder Robertas Šaltis. “The MELP e-shop service, which allows employees to independently select additional benefits, is also growing rapidly – we project €3 million in sales through our employee benefits marketplace in 2025.”

Šaltis added that the previous investment helped the company grow across the Baltic states and test other European markets. He noted that most of the new capital will go towards developing operations in the UK, particularly with mid-size companies employing frontline workers.

“Some teams simply stick to their established strategic goals, while others are able to adapt and revise those goals as the environment changes. I believe the MELP team belongs to the latter group, and their ability to respond appropriately and in a timely manner is one of the key reasons behind the company’s impressive growth. The founders’ experience and the team’s competencies have allowed them to identify and capitalise on opportunities in surrounding markets, without expending resources on less familiar territories. They have also recognised the potential offered by AI, and today MELP is equipped with valuable experience and the right tools for the next leap. We wish them continued success,” said Viktorija Trimbel, Managing Director at Coinvest Capital.

Coinvest Capital contributed €800,000 of the total raised. The fund, established by Lithuania’s national development bank ILTE, invests in promising European startups that create value for the Lithuanian market. Since its inception, Coinvest Capital and its partners have invested in 49 startups and exited six, deploying more than €57 million in venture capital.

MELP is already used by companies such as Ignitis group, Nortal, IKI Lietuva (Rewe group), Atea Baltic, Volvo Lithuania, City Service, and Vilnius City Municipality.

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The EU AI Act is the European Union’s first-ever legal framework designed specifically to regulate artificial intelligence. Adopted in 2024, it introduces a risk-based approach, classifying AI systems into four categories: minimal, limited, high, and prohibited risk. Its primary aim is to protect fundamental rights, ensure transparency, and promote safe innovation, while preventing harmful or manipulative uses of AI. By setting these rules, the EU seeks to become a global standard-setter for trustworthy AI.

While certain provisions have already taken effect, including general provisions on AI literacy and the prohibition of practices deemed to involve unacceptable risks, the Act will be fully applicable from 2 August 2026. At that point, it will become the world’s first comprehensive law regulating artificial intelligence. For customer care teams, this new regulation means far-reaching changes. Although chatbots, voicebots, or virtual assistants will not be banned, their use will be clearly regulated. The focus lies on transparency, human oversight, and legal safeguards.

AI may support but not decide

In the future, AI systems may support customer service, but may only act independently when decisions have no significant consequences for those affected. In all other cases, a human control instance must be involved. This applies especially to complex or sensitive matters. The so-called “human-in-the-loop” approach becomes mandatory. Customers must always have the option to be transferred from an AI-powered interaction to a human service representative.

If AI systems act without human control or users are not clearly informed about their use, drastic consequences may follow. Violations can be punished with fines of up to 35 million euros or seven per cent of global annual turnover, depending on the severity of the violation and the size of the company (Article 71 ff.).

Transparency is mandatory

Companies must clearly and unambiguously communicate whether a customer is interacting with an AI system or a human. This information must not be hidden or unclearly formulated and must be actively communicated, for example, by text or voice message.

Especially in cases of complaints, sensitive data, or important requests, human escalation options are required by law. This ensures that in critical situations, no automated decisions are taken without human supervision.

As soon as a matter potentially impacts customer rights or is sensitive (for example, complaints, data changes, or applications), a human escalation option must exist. Essentially, this means that fully AI-based customer service without the option to escalate to a human employee is no longer permitted in most cases. Customers must have the option to speak to a human if they wish. Therefore, it is not enough to rely solely on a bot – the option to switch must be actively offered and easily accessible. While such a choice is not mandatory for every standard inquiry (e.g., purely informational standard inquiries), wherever AI interaction may affect rights, interests, or complaints, a human contact person is mandatory.

Classification according to risk levels

The EU AI Act distinguishes four risk levels: minimal risk, limited risk, high risk, and prohibited risk. Most AI systems used in customer service, such as chatbots that answer simple questions or take orders, fall into the category of “limited risk.” However, the actual classification always depends on a case-by-case assessment based on the type of use and impact on user rights. These systems are subject to transparency obligations. Users must be clearly informed that they are interacting with AI. In addition, it must be ensured that a human is available at all times upon request. AI systems with limited risk must not make final decisions that significantly impact user rights.

High-risk AI systems, such as those in banking or loans,  in application procedures that significantly impact access to employment (e.g., recruitment) or sensitive health applications, are subject to significantly stricter requirements. These include comprehensive risk analyses, technical documentation, and permanent human supervision. AI systems with prohibited risk, such as those that manipulate or discriminate against people, are completely banned. This differentiated regulation aims to ensure safe, transparent, and responsible AI use in customer service without hindering innovation.  It guarantees that customer service AI remains legally compliant while strengthening user trust.

AI and Data Protection go hand in hand

In addition to the provisions of the EU AI Act, the regulations of the General Data Protection Regulation (GDPR) continue to apply. Especially where AI processes personal or sensitive data, both legal frameworks must be considered. This means companies must take not only technical but also organisational measures. All processes must be documented, auditable, and fully GDPR-compliant.

Providers of AI tools in use must be checked to ensure full compliance with European GDPR requirements. This is particularly critical if the provider is not based in Europe (for example, U.S. companies such as OpenAI). Problems can arise here: As long as AI tools are only used as “little helpers” and no sensitive or personal data is processed, the risk is usually manageable. If these services are more closely integrated into core business processes, such as the entire customer service, the risk increases significantly.

If full GDPR compliance is not achieved, high penalties may be imposed in case of violation. In the event of a data protection audit, the relevant business area, such as the entire customer service, may be prohibited by authorities on short notice. The consequences for the company can be serious.

Therefore, clear proof of GDPR compliance must be demanded from external providers (especially those outside the EU). This includes a clearly worded data processing agreement (DPA), information on where and how data is processed and stored, and, if necessary, data storage exclusively within Europe.

Companies should also examine alternatives with guaranteed EU location and full data protection compliance, document internal processes and data flows seamlessly, and train employees in the use of AI tools and sensitive data. Partial knowledge or insufficient examination of the legal situation can quickly lead to considerable risks and costs.

Employee training becomes mandatory

Employees play a central role. Companies are obliged to train their teams in handling AI systems. Customer care employees must understand how the tools work, recognise risks, and know when to intervene. Some companies have already begun integrating this content into their onboarding processes – not only for legal reasons but also to ensure service quality.

To sum up: The EU AI Act does not prevent the use of artificial intelligence but establishes clear rules on how AI should be used responsibly and transparently. Companies must now prepare or adapt their systems, processes and teams accordingly by no later than August 2, 2026.

For companies that use AI responsibly, the EU AI Act can become a clear competitive advantage. It builds customer trust and helps avoid costly fines and reputational damage.

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Barcelona-based Altan, a platform that assembles teams of AI agents to autonomously design, build and operate software, has raised $2.5 million in a pre-seed round.

The round was co-led by VentureFriends and JME Ventures, joined by 4Founders Ventures and ElevenLabs’ Carles Reina. Angel investors participating in the round include Pau Suris and Pau Sabria (Remotely), Albert Armengol (Doctoralia), David Baratech (Yaba), and Lluis Faus (vLex).

Altan is an agent-native platform that reimagines how software is built and run. Founded in Barcelona in 2024, Altan set out to make production-ready software creation accessible to everyone, from individuals to enterprises and agencies.

Users describe a product via text or voice, and Altan orchestrates role-based AI squads, full-stack engineers, UX designers, and product managers to design, build, and deploy production-ready applications. Because the software is created to be operated by agents, not just humans, Altan enables autonomous operations after launch, making it possible to stand up entire businesses rapidly and move from idea to revenue in hours.

Albert Sagueda, Altan’s CEO and co-founder, emphasised that conventional no- and low-code solutions produce software intended to be run by people.

At Altan, we're pioneering a completely new category of software: fully autonomous software designed to operate without human intervention. Our goal is to let you be the “idea” person, and let the agents do everything else.

Altan’s agents collaborate to handle the entire software lifecycle (design, build, and deploy), including front- and back-end development, payment integrations, workflow design, and customer-database hosting. The platform can also embed agentic interfaces (voice, text, or video), making projects ready for autonomous operation from day one.

A new report by Antler, published today reveals a new generation of ‘rocketship’ unicorns —  tech companies, like Lovable, Mistral and ElevenLabs, that were founded since 2020 and have already achieved billion-dollar valuations — have disproved the myth that it is impossible to scale tech companies in Europe as fast as the US.  

The report, Europe’s Era of Execution, is one of the largest studies of European founders ever conducted. It analyses 3,400 founders of 900 unicorns in Europe and the US, 35 founders of the fastest-growing software companies of all time, 1,200 Antler-backed founders, and 60,000 aspiring entrepreneurs.

Europe’s rocketship Unicorns

There are 14 rocketships in Europe. On average, they have taken two years to reach a billion-dollar valuation. This is significantly faster than the previous rate of 7.2 years. And they are keeping pace with the US, where the average time to unicorn is now 1.6 years.

Contrary to misconceptions that European companies need American capital to scale, two-thirds of the VCs backing European rocketships are from the local ecosystem. Accel is Europe’s most prolific rocketship backer, investing in Lovable, Fuse Energy and Helsing. 

Christoph Klink, Partner at Antler, comments: 

“We are seeing a wave of European rocketships led by a new generation of technical founders using AI to smash through Europe’s scaling bottleneck. 

As a result, Europe is producing unicorns faster than ever before. In fact, two of the top five fastest-growing software companies of all time are now European (Lovable & ElevenLabs)."

He contends that while Europe may never match the US dollar-for-dollar in fundraising, “it can compete, and win, through relentless execution."

"The Execution Era has begun, and Europe’s founders are redefining what is possible.”

Rocketship Fuel - AI and Technical Founders

AI is the driving force behind the execution era. In a survey of 1,200 European founders, 93 per cent said that AI has allowed them to execute faster, with half saying AI allows them to move 5x faster than before.  85 per cent of companies have used AI to build their MVPs. And for products in full production, up to 40 per cent of the code is AI-generated, which is 3x higher than 2020. 

And Europe’s unicorn founders are more technical than ever before. 90 per cent of the founders who started rocketships since 2022 have technical backgrounds.

In fact, Europe is now producing a higher share of technical founders than the US, where 80 per cent of unicorn founders since 2022 are technical. This is the first time that has happened. 

Unsurprisingly, technical AI founders are the fastest-growing breed among founders starting businesses today.

 Between 2023 and 2025, the number of AI engineers becoming founders in Europe increased by 14x. 
And since 2022, the number of founders who previously held AI engineering roles has increased by 4x. 

Europe’s challenges: London, diversity and Big Tech

Despite this momentum, the report highlights a number of hurdles that Europe’s tech ecosystem still needs to overcome:  AI founder talent is not gender diverse: Europe has only produced one female AI unicorn founder, and none of the AI unicorns in the last five years have female foundersRocketships are leaving London behind: only one rocketship has come out of London, raising questions about the future dominance of the world’s third largest tech ecosystem. 

Europe needs big tech engine rooms: 50 per cent of US rocketship founders hail from big tech companies, whilst only 30 per cent of European founders do

The Lovable Effect

In the study of 1,200 European founders, when asked to name a tech company they admired the most in the world, 40 per cent named Lovable. 
80 per cent of founders said they wanted their speed of execution to be faster. 

And, for the first time, speed of execution (44 per cent) has overtaken access to funding (40 per cent) as the biggest challenge facing European founders. 

Rocketships such as Lovable are driving increased velocity in Europe that is also being seen at the early-stage. Startups founded in the last year in Antler’s European portfolio get to first revenue 3x as fast, and generate up to 10x more revenue in their first year, compared to startups founded three years ago. 

Anton Osika, co-founder of Lovable, comments: 

“The speed at which AI capabilities have been advancing mean we couldn’t have launched Lovable a couple of years ago. We have focused on building in a capital efficient way that is very common to Europe but doesn’t fit with the traditional US startup playbook.” 

Marius Meiners, co-founder of Peec AI, comments:  

“In the AI space, the companies that win are the ones that scale the fastest. Now more than ever, most ideas with potentially huge outcomes are fairly obvious. 
Working on these ideas where you might face 50 competitors requires more than just the belief that “I can build a big company.

You need a deep conviction that you can outperform everyone else, and then the discipline to execute on that belief.”