Cloover secures over $1.2B, EU Inc launched at Davos, and the Danish fintech boss who says “no” a lot
European tech news highlights significant funding achievements and strategic policy initiatives aimed at bolstering the region's digital landscape. This past week saw over €2.7 billion in funding deals and more than 10 exits, M&A transactions, and related news, underscoring a dynamic period of growth and consolidation. A key development is the launch of "EU Inc." at the World Economic Forum in Davos, a new regime for startups backed by a substantial grassroots movement. Notable funding rounds include German startup Cloover securing over $1.2 billion for its AI operating system focused on energy independence, demonstrating a strong push in AI applications for critical sectors. French accounting software platform Pennylane raised $200 million, while Ukrainian edtech Preply achieved a $1.2 billion valuation with a $150 million Series D funding. These investments reflect investor confidence in AI, SaaS, and transformative educational technologies within Europe. The launch of EU Inc. signals a concerted effort by European policymakers and the startup community to create a more supportive ecosystem, potentially reducing reliance on non-European models. This initiative, alongside a €20 million fund by Vanagon Ventures for deeptech startups and PROTOTYPE Capital's new fund for robotics and AI, indicates a strategic focus on frontier technologies and fostering European digital sovereignty. The policy developments and significant capital injections collectively point towards an ambitious future for the European tech sector.
Curated and translated by Europe Digital for our multilingual European audience.
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