Oxylabs, a Vilnius-based data infrastructure platform, raised €113.6 million from Warburg Pincus at a €3.1 billion valuation. This marks its first external investment since 2015 and positions it as a leader in AI-era web intelligence. Funds will accelerate product development, global expansion, and strategic acquisitions.
Kraken Technology Group, a London-based developer of uncrewed autonomous maritime vehicles, secured $175m in Series B funding led by DTCP. The company produces maritime defence vessels like K3 Scout, K4 Manta, and K5 Kraken, with contracts from the UK Ministry of Defence, NATO, and US Special Operations Command. Funds will expand global deployment of mission-ready maritime capabilities.
SpaceXAI, owned by Elon Musk, launched Grok 4.5, an advanced AI model trained on NVIDIA chips with enhanced programming capabilities. The model is now available in Grok Build and Cursor but will be accessible in the EU by mid-July 2024.
Telenor, a Norwegian telecom operator, has acquired a controlling stake in Bahnhof, a Swedish telecom company, for 6.1 billion SEK. The transaction values Bahnhof at 6.1 billion SEK, and Telenor intends to make a bid for the remaining shares.
Swedish SaaS startup Lovable is in advanced talks to secure a $300 million funding round at a $13.2 billion post-money valuation, with participation from major global investors.
Kinnevik, a Swedish investment company, wrote down Mathem’s value to zero two years after investing over 3.5 billion SEK in the startup and its sister company Oda. The company has now sold its stake for a negligible amount to an unknown buyer.
Munich-based Proxima Fusion secured €411 million in a €2.5 billion valuation round led by XTX Ventures and East X Ventures, with Google as a notable investor. The funding will accelerate development of its nuclear fusion technology, including the Alpha stellarator project. The company aims to secure additional €1.2 billion from the German federal government for commercialization.
BGF, a UK-based growth capital provider, has deployed over €5.8 billion across 650 businesses in 15 years, supporting growth-stage companies in the UK and Ireland. The firm focuses on minority equity investments and has generated significant economic impact, including €4.3 billion in exits and 35,000 jobs created.
Endra, an AI-driven construction tech startup, grew from a garage project to a 2.4 billion SEK valuation in 18 months. CEO Niklas Lindgren discusses the company’s rapid rise and strategies to disrupt the global construction industry.
Bending Spoons, an Italian software company, achieved a $26 billion valuation after going public. The company specializes in acquiring mature applications (e.g., Evernote, WeTransfer) and transforming them through AI-driven optimization, cost reduction, and operational streamlining. It has identified over 1,000 potential acquisition targets, leveraging AI to automate development and reduce workforce redundancies.