Tech.eu

This week, we tracked more than 55 tech funding deals worth over €2.7 billion and over 10 exits, M&A transactions, rumours, and related news stories across Europe. Alongside the week’s top funding rounds, we’ve highlighted key industry developments, as well as notable trends in European venture activity, investor moves and emerging sectors shaping the current funding landscape.

Today sees the launch of Clean Tech for Clean Air (CT4CA), a coalition launched in Brussels to support the role of small sensors in Europe's clean air framework under the revised EU Air Quality Directive.

The AI industry has become obsessed with generating images, videos and text. But one London startup is tackling a different challenge: making sense of the enormous personal archives we've already created. I’ll be honest, usually the closest I get to curating my photos is deciding which cat photos to delete from my Google pics to avoid having to pay for storage. And I’m not alone.

SAP has acquired the German-founded frontier AI company Prior Labs for over €1 billion. The transaction, which comes just 18 months after Prior Labs was founded, establishes it as one of Europe’s pre-eminent AI research labs. Prior Labs pioneered tabular foundation models (TFMs), a category of AI purpose-built for enterprise data.

EQT Life Sciences’ EQT Health Economics 3 Fund (EQT HE3), a multi-stage life sciences and medtech-dedicated fund has received €25 million from the British Business Bank. EQT Life Sciences backs companies focused on the development of therapeutics, medical devices, diagnostics and healthtech. With a 30-year track record, the firm has raised over €3.7 billion across 13 private funds and supported more than 150 companies from early clinical development through to commercialisation.

Sightera Biosciences, a Belgian techbio company using generative AI to develop novel small-molecule therapies, has raised €3 million in a pre-seed funding round led by Entourage, Anacura and QBIC. A spin-off from the University of Antwerp and Antwerp University Hospital (UZA), Sightera is developing an AI-native drug discovery platform focused on oncology and fibrosis.

ENGO, a French company developing smart eyewear for athletes, has raised €5.1 million in a funding round to expand its international presence and accelerate the development of next-generation heads-up display technologies. The round was led by Ventech, Odyssée Venture and Bpifrance Amorçage Industriel, with Blueprint Partners supporting the company through the fundraising process.

Uber and one of its affiliates have entered into a business combination agreement to acquire Delivery Hero, thereby extending the mobility and delivery platform to 99 countries. Under the terms of the voluntary takeover offer, Uber will offer Delivery Hero shareholders €41.50 per share in cash (implying a fully diluted equity value of €13.0 billion). Berlin-headquartered Delivery Hero currently operates in around 65 countries across Asia, Europe, Latin America, the Middle East and Africa.

Juno Bio, a UK-founded women’s health company dedicated to closing the gender health gap through precision vaginal microbiome testing and multi-omics, today announced the opening of its first sequencing lab built entirely for women’s health. The new facility, in Oakland, California, marks a major step forward in expanding access to high-quality, clinically relevant microbiome testing. To fuel this stage of growth, Juno Bio has raised $3.8 million in funding.

Roman Sulzhyk, Founding Partner of Ukrainian investment fund Resist.UA, has a message for the world when it comes to investing in the Ukrainian startup ecosystem: "If you wait until after the war, you're already too late." He contends that the really entrepreneurial people didn't wait.