Nscale secures $1.4B, Eutelsat expands with €975M, and Germany’s scale-driven ecosystem

European tech ventures saw significant funding and M&A activity this week, underscoring a robust and evolving digital landscape. Key developments include substantial capital injections into AI and infrastructure companies, alongside strategic acquisitions aimed at expanding market reach and enhancing technological capabilities. These movements highlight a dynamic period for European innovation, particularly in critical sectors like artificial intelligence and renewable energy. Notable funding rounds include Nscale's $1.4 billion debt financing backed by GPUs, a move that facilitates growth without equity dilution. Eutelsat secured €975 million for its Low Earth Orbit (LEO) satellite expansion, and Olix raised $220 million for its photonic AI inference chips, directly challenging established global players. These significant investments signal strong investor confidence in Europe's capacity to develop and scale advanced technological solutions. The acquisitions reflect a strategic consolidation and expansion within the European tech ecosystem. Reward was acquired for $230 million, Admiral Group purchased insurtech Flock for £80 million, and Uber expanded its delivery services by acquiring Getir’s Turkish business. Dcycle’s acquisition of ESG-X further emphasizes the growing importance of sustainability data management across the continent. Investor activity remains brisk, with Elaia’s Digital Venture Fund V reaching €120 million at its first close and Antler launching an always-on Nordic residency with a new fund. These initiatives demonstrate a targeted approach to accelerating startup growth and investment across various European regions. The German tech ecosystem, in particular, is transitioning from industrial depth to strategic growth, reflecting a broader trend of scaling and innovation.