UK‑based AI‑chip startup Olix secured a $312 million financing round led by Fundomo, boosting its valuation to $3.3 billion and positioning it to compete with Nvidia. The round will fund chip development and the company also hired former Wise CFO Matt Briers.
The article highlights a shift in European venture capital toward specialised AI solutions. It cites CuspAI, a British startup that uses artificial intelligence to discover new materials, which raised $450 million and reached a $2.6 billion valuation, exemplifying the move towards deep‑tech projects that combine software, scientific research and industrial applications.
UK‑based SME lender iwoca obtained a £250 million debt facility, strengthening its capacity to finance small and medium‑size enterprises across the region.
German‑French space startup The Exploration Company is poised to secure more than $300 million in funding, pushing its valuation to $2 billion and positioning it as a European rival to SpaceX.
Dwelly, a UK‑based proptech startup founded in 2023 by former Uber and Gett executives, raised $170 million (including a $75 million debt facility) led by EQT Growth and General Catalyst. The capital will be used to acquire more letting agencies and embed its proprietary AI software to automate property‑management tasks, expanding its portfolio of 17 agencies managing about 15,000 properties.
Debt‑intelligence unicorn 9fin, based in London, announced the completion of its first employee secondary share sale following a $170 million Series C funding round that pushed its valuation to $1.3 billion.
Lilium, the German eVTOL startup that aimed to revolutionise regional air transport, ran out of cash after a €100 million state‑guaranteed loan collapsed and a €150 million investment never materialised. The company entered insolvency in October 2024, giving it three months to find new backers, but it ultimately could not, leading to the shutdown of its facilities and the scrapping of its jets.
Spanish AI scale‑up Multiverse Computing is seeking a €500 million Series C round that would bring its total funding above €700 million and value the company at €2 billion. The round is co‑led by Forgepoint Capital, Bullhound Capital and BNP Paribas’s Solar Impulse Venture Fund and includes a mix of European, North‑American and Middle‑Eastern investors. Funds will be used to boost model‑compression technology, R&D and global expansion.
Nothing, the London‑based consumer electronics startup founded by Carl Pei in 2020, is restructuring its global team and cutting over 100 jobs to improve efficiency after a period of rapid expansion. The cuts affect marketing staff in the UK and other regions, while the company reorganises into regional hubs and introduces an AI‑native business unit. Nothing has raised more than $450 million from investors such as Tiger Global, GV and EQT and reached a $1.3 billion valuation.
Spanish energy startup Catalyxx announced that it will build a €120 million commercial‑scale bio‑based chemicals plant in Sines, Portugal. The project, part of a broader European push for circular bio‑based industries, is funded by private capital and public sources, including a €20 million grant from the Circular Bio‑based Europe Joint Undertaking. The plant will produce drop‑in, carbon‑negative chemicals such as butanol, hexanol and octanol, aiming to replace fossil‑derived counterparts and reduce CO₂ emissions by about 105,000 tonnes per year. Construction is slated to start in Q4 2026.