Funding

Copenhagen-based Atlo Secures Investment from Scandinavian Retail-Tech Entrepreneurs to Modernize Wholesale Ordering

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Atlo, a Copenhagen-based AI-powered wholesale platform, has secured investment from prominent Scandinavian retail-tech entrepreneurs. The platform aims to digitalize wholesale ordering for interior design and lifestyle brands by automating workflows, predicting reorder needs, and providing real-time performance data. Founded by Casper Brix, former Head of Purchasing at AndLight, the platform targets an industry still operating primarily through emails and spreadsheets.

Belgian EventTech Startup Exhibitly Raises €1.4 Million to Scale AI-Powered Event Personalisation Platform

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Exhibitly, a Ghent-based EventTech startup, raised €1.4 million in pre-Seed funding to expand its AI-powered personalisation platform for B2B events. The platform uses AI to create personalised experiences on event websites, increasing conversion rates by 10-20 times compared to standard event websites. The company has already signed 114 events globally and is cashflow positive.

European Commission Selects EQT to Manage €5bn Scaleup Europe Fund for Deeptech Innovation

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The European Commission selected Swedish investment firm EQT to manage its new €5bn Scaleup Europe Fund focused on European deeptech startups. EQT won the mandate over finalists Atomico and other competitors. Around €2.5bn has been committed as of year-end, with €1bn from the EIC and €1.5bn from private limited partners including Novo Holdings, CriteriaCaixa, Santander/Mouro Capital, APG Asset Management, and the Wallenberg family.

Ryanair Reports Record €2.26 Billion Net Profit as Fuel Hedging Strategy Shields Against Market Volatility

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Ryanair announced record net profits of €2.26 billion for fiscal year 2026 (ending March 31), a 40% increase driven by reduced expenses and higher revenues from passenger growth and fares. The airline projects stable ticket prices during peak summer months and increasing confidence in jet fuel supply despite Middle East tensions. The company’s conservative fuel hedging strategy (80% of FY2027 fuel hedged at $67/barrel) protects margins as spot prices exceed $150/barrel. CEO Michael O’Leary’s contract extension negotiations through 2032 are nearing completion.

Klarna Reaches Profitability Milestone as Swedish Fintech Scales to 119 Million Users

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Klarna, the Swedish fintech company, announced significant growth metrics including a 49% increase in connected merchants to over 1 million and a 21% growth in users to 119 million. The company processed $33.7 billion in payment volume (up 33%) and achieved its first profitable quarter with $1 billion in revenue and $1 million net profit. Klarna is expanding US market presence through partnerships with Stripe, Nexi, JPMorgan Payments, and Worldpay.

Milan-based Cosmico Raises €12 Million in Series B to Expand Future of Work Platform Across Europe

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Milan-based Cosmico, a future of work holding company, raised €12 million in Series B funding led by P101 SGR. The company operates across Italy and Spain with a network of 35,000+ digital professionals. Alongside the funding, Cosmico completed the full acquisition of Flatmates, a creator agency. The funding will support the company’s expansion strategy and planned acquisitions.

Munich Defense Startup Helsing Raises $1.2 Billion, Becoming Most Valuable German Startup Ever

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Helsing, a Munich-based defense startup founded in 2021, is reportedly raising 1.2 billion US dollars, which would value the company at 18 billion dollars. This would make it the most valuable German startup, surpassing previous record holders Trade Republic and Celonis. The company develops AI-powered autonomous combat drones, with the HX-2 model already in operation. The funding round is led by US investors Dragoneer and Lightspeed Venture Partners.

Swedish Startup Transforms Coastal Seagrass into Sustainable Textiles with €300k Pre-Seed Round

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Salt & Fiber, a Malmö-based ClimateTech startup, has secured €300k in pre-Seed funding to scale its technology that transforms beach-cast seagrass into sustainable textile yarns. The company simultaneously launched a €45,000 crowdfunding campaign. The solution addresses coastal waste management (municipalities currently landfill seagrass) and the sustainability challenges of conventional textile production by creating biodegradable, plant-based fibres that require no fresh water, fertilizers, or land. The company is in pilot production, has a supply agreement with a Swedish municipality, and is part of the Älmhult x IKEA incubator, targeting commercialization between 2027-2028.

Romanian Automation Firm IT Genetics Lists on Bucharest Stock Exchange After Raising €1 Million

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IT Genetics, a Romanian IT company specializing in digital automation and operational efficiency solutions, listed on the Bucharest Stock Exchange AeRO market on May 20, 2026 under the ticker ITG. The company raised 5.2 million lei through a private placement to support international expansion and business development. Operating in Romania, Hungary, Bulgaria, Spain, and Italy, IT Genetics serves over 20,000 companies across retail, logistics, manufacturing, e-commerce, and HoReCa sectors.