Highlights of European Innovation and Investment
1. “Make robots fight instead of people”: Mykhailo Fedorov launches Army of Robots — and you could be its CTO
Over the weekend, Mykhailo Fedorov, the former Ukrainian Deputy Prime Minister, unveiled the Army of Robots initiative at the IT Arena in Lviv. This aims to develop robotic technologies for warfare, allowing robots to perform the most dangerous tasks to protect soldiers’ lives. The Army of Robots seeks to invest in defense tech startups and build a comprehensive ecosystem geared towards rapid tech deployment.
2. TEKEVER raises $580M Series D, DTCP closes €455M defence fund, and the challenge to reinvent chip design
This week saw considerable funding activity, including TEKEVER's impressive $580 million Series D round, which underlines the growing importance of defense technology in Europe. Additionally, DTCP announced a €455 million defense fund aimed at scaling tech capabilities within the European security landscape, emphasizing the collective push for stronger and more innovative defense systems.
3. Bootstrapping, AI, & "building for a flip": Central European VCs have their say
At the Infobip Shift conference in Zadar, Croatia, VCs discussed the delicate balance between bootstrapping and seeking venture capital. With a keen interest in boosting investment amounts, panelists emphasized the need for founders to articulate why they seek funding and to focus on building sustainable businesses, rather than simply aiming for a lucrative exit.
4. Fortum backs Norrsken Evolve’s €62M fund to accelerate Europe’s electrification
Nordic energy firm Fortum is investing in Norrsken Evolve's €62 million fund aimed at accelerating electrification across Europe. This pre-seed fund seeks to enhance the sustainable future by supporting over 80 companies in the energy sector. Fortum's backing will bolster the innovation ecosystem focused on achieving a clean energy transition in Europe, marking a step forward in the quest for cleaner industrial practices.
5. OWOW Venture Studio lands €2.65M to build B2B startups for traditional industries
Eindhoven-based OWOW Venture Studio has secured €2.65 million to foster early-stage B2B startups primarily in manufacturing and OEM sectors. Their unique venture studio model integrates capital with product development, highlighting a commitment to upgrade traditional industries through technology, demonstrating the dynamic evolution of the European startup landscape.
