EIT unveils €978M, £4.4M for British drones and EU Inc. racks up praise
This week in European tech saw significant funding rounds, acquisitions, and regulatory developments. The European tech ecosystem continues to attract investment, with several companies securing substantial funding to fuel their growth. A focus on AI and digital transformation remains evident across various sectors. Several notable funding rounds highlighted the week's activity. UK-based Thought Machine raised £45M, while Italy's Lexroom secured a $19M Series A to leverage AI in legal workflows. Germany's Black Forest Labs is aiming to raise $300M at a $4B valuation, demonstrating the continued investment appetite in the region. The UK government also awarded £4.4 million to aviation and drone tech startups, indicating a focus on technological advancement. Acquisitions and mergers also shaped the landscape. Dutch oncology company Merus is set to be acquired for €6.8B, and Mews acquired Flexkeeping to automate housekeeping. These deals signal consolidation and strategic moves within various sectors. Simultaneously, the backing of EU-INC's 28th Regime by European angel investors underscores the ambition of the European digital sovereignty.
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