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.
German FinTech startup Augustus has become a unicorn, joining the elite group of billion‑dollar valued companies.
French AI startup Mistral AI is pursuing a massive €3 billion Series D financing, potentially led by the EU Scaleup Fund, pushing its valuation to about €20 billion and positioning the company as Europe’s answer to Palantir.
German content‑infrastructure startup Contentful was bought by US cloud giant Salesforce for about €1.55 billion, marking a major exit for the Berlin‑based company.
CuspAI, a Cambridge‑based AI startup that designs new materials for clean energy and semiconductors, raised $450 million in a Series B round, bringing its total funding to over $670 million and valuing the company at $2.6 billion.
Dutch fintech Mollie is committing €350 million to accelerate its European expansion, positioning itself as a multi‑service platform for merchants. The plan includes hiring, product development and market entry across the continent, reflecting the company’s shift from a single‑service payment provider to a broader superapp model.
Applied Computing, a London-based AI company building foundation models for energy operators, raised €17.4 million ($20 million) in a funding round led by KBR and Databricks Ventures. The company also opened a new office in Houston, Texas, marking its formal entry into the US market. The funding will support expansion, commercial deployment, and AI research.