Top 5 European Tech News Summaries: Delivery Hero, Mistral, Edonia, TechWolf, Graduate Venture

1. Delivery Hero alumni have built 150 startups worth €7.5B, making it Europe’s biggest founder factory

A recent analysis by Dealroom.co reveals that alumni from Delivery Hero, a leading European food delivery platform, have established 150 startups valued at €7.5 billion. Based in Berlin, these alumni have raised €4.4 billion in venture capital, boosting the European tech ecosystem significantly. Germany remains a focal point, with 42 startups valued at €4.4 billion alone initiated from Delivery Hero's Berlin headquarters. The analysis also indicates that sectors beyond food delivery, such as enterprise software, are seeing an influx of new ventures.

2. Mistral unveils le Chonk, says "significantly outperforms” open-weight models

French AI firm Mistral has introduced its most sophisticated model yet, the Mistral Large 4, also known as le Chonk. This one trillion-parameter multimodal model claims to outperform open-weight models developed in both Europe and the US. Initially launched in developer preview, the model aims to tackle a range of enterprise applications, including cybersecurity and law, heralding a new era in the global AI race.

3. Edonia raises €15M to scale microalgae protein as an alternative to meat

Foodtech startup Edonia has successfully raised €15 million to advance its innovative microalgae protein solution, designed as a sustainable alternative to traditional meat sources. The company’s process transforms spirulina into a high-protein food ingredient, significantly lower in carbon footprint than meat. With an eye on establishing a dedicated facility for production and enhancing its B2B food service sales in Europe, Japan, and the U.S., Edonia aims to reshape the protein market.

4. SAP buys TechWolf in record Belgian VC-backed deal

SAP’s acquisition of Belgian startup TechWolf marks the largest deal for a venture-backed software company in Belgium’s history. TechWolf specializes in AI solutions aimed at understanding employees' skills and work activities. This acquisition highlights SAP’s commitment to enhancing its talent management and workforce strategy, particularly as AI continues to disrupt traditional business models. The deal is set to close by the fourth quarter of this year.

5. Graduate Ventures launches €125M second seed fund to back Dutch tech startups

Graduate Ventures has announced the launch of its €125 million second seed fund, aimed at supporting emerging tech startups in the Netherlands. Established by alumni from top universities, this fund intends to bolster sectors crucial for a competitive future, including AI, deep tech, and healthcare. With previous investments yielding significant results, this new venture underscores the commitment to fostering a robust Dutch tech ecosystem.