The Swedish game developer Embark Studios saw its turnover jump 800% to reach the billion‑dollar range and posted a solid profit after moving 12 million game copies in just two months, as disclosed in its latest annual report. The company also warned of future risks, particularly related to its staff.
US AI coding platform Replit announced the launch of its European hub in London, hiring 20 staff locally and targeting up to 100 employees by early 2025. The move follows a $400 million funding round in March and reflects the company’s strategy to diversify beyond Silicon Valley and tap into London’s diverse talent pool.
Vinted announced that it will stop using Mangopay for seller payments in Germany and switch to its proprietary Vinted Pay system. The change, finalised on 5 October, will allow tighter control over wallets, bank‑account matching, security checks and identity verification. Vinted Pay has been piloted in the Baltic states and several Eastern and Southern European countries, while Vinted still relies on external providers such as Mangopay and Adyen in markets like the Netherlands, France and the UK. The move does not end Vinted’s partnership with Mangopay, which was extended earlier this year.
NordAmps, a deep‑tech fabless semiconductor company based in Lund, Sweden, secured conditional approval to list on Nasdaq First North Growth Market and announced an IPO slated for September 2026, aiming to raise capital to accelerate commercialization of its proprietary vertical nanowire transistor technology for communication systems.
UK ticketing platform Tickets for Good raised £3.9 million to fund its international expansion and job creation in Sheffield, backing its low‑cost ticket service for NHS workers, teachers and charities.
Molten Ventures secured a £175 million first close for its Ventures Growth Fund, backed by a £75 million cornerstone from the British Business Bank, to support Series B‑plus technology companies in the UK and Europe.
Hugging Face’s $12.9 billion sale highlights the scale of valuation possible for AI‑focused startups, but also underscores the difficulty European founders face in reaching similar exits, prompting a mixed view of the deal across Europe’s tech community
In the latest “5 sips of coffee” roundup, the most notable startup event was the merger of Polish tech firms cyber_Folks and Shoper, which values the combined company at almost one billion dollars, signalling the creation of a new heavyweight in the European SaaS/e‑commerce market.
Mathem is building AI technology that will enable automatic food orders for offices, making the ordering experience as simple as possible for customers.
UK‑based MedTech startup Strolll raised a total of €5 million from Innovate UK (loan and grant) and a new equity round led by IW Capital, aiming to expand its AR‑based neurorehabilitation platform and bring new bedside solutions to market.