Ben’s List 43

Europe’s critical materials shortage has reached a tipping point, with supply chain vulnerabilities exposed across automotive, aerospace, and renewable energy sectors. Against this backdrop, Altrove, the Paris-based startup leveraging artificial intelligence to design alternatives to critical materials, has secured €9.2M in seed funding led by Alven. The round positions Altrove at the forefront of Europe’s strategic autonomy push, addressing dependencies on rare earth elements and other critical materials that have become geopolitical flashpoints. For European manufacturers grappling with supply chain disruptions and regulatory pressure to diversify sourcing, Altrove’s AI-driven approach offers a compelling alternative to traditional materials research cycles. AI material alternatives funding attracts European deep tech investors Alven’s investment thesis centres on Europe’s urgent need for materials innovation, particularly as the continent races to build resilient supply chains for its green transition. The venture capital firm, known for backing deep tech startups with strong IP moats, sees Altrove’s proprietary algorithms as uniquely positioned to accelerate materials discovery from decades to months. “Traditional materials research is fundamentally too slow for today’s geopolitical realities,” explains Alven partner Marie Dubois. “Altrove’s platform can simulate millions of material combinations, identifying viable alternatives to critical imports whilst maintaining performance specifications European manufacturers demand.” The funding comes as European policymakers intensify focus on critical raw materials, with the EU’s Critical Raw Materials Act establishing ambitious targets for domestic production and recycling. Altrove’s technology directly addresses these strategic priorities, offering European companies pathways to reduce dependency on volatile supply chains. Paris startup targets European manufacturing resilience Altrove’s platform combines machine learning with quantum simulations to predict material properties, enabling rapid identification of alternatives to scarce elements like lithium, cobalt, and rare earth metals. The company has already demonstrated success in automotive applications, developing battery materials with 85% reduced cobalt content whilst maintaining energy density specifications. Founded in 2023 by former CNRS researchers, Altrove has built partnerships with three European automotive OEMs and two aerospace manufacturers. The startup’s approach resonates particularly strongly in France, where government-backed initiatives like France 2030 prioritise technological sovereignty in critical sectors. “European manufacturers cannot afford to remain dependent on single-source materials,” notes Altrove CEO Dr. Thomas Laurent. “Our AI enables them to innovate their way out of supply chain vulnerabilities whilst maintaining competitive performance. This funding accelerates our mission to make materials independence a reality for European industry.” The €9.2M will fund platform development and expand Altrove’s materials database, with particular focus on alternatives for renewable energy applications. The company plans to double its Paris-based team and establish partnerships with additional European research institutions, positioning itself as a key player in Europe’s quest for materials resilience. This funding signals growing investor confidence in European deep tech solutions to geopolitical challenges, with Altrove positioned to capture significant value as manufacturers prioritise supply chain security over traditional cost optimisation.

Europe’s small satellite manufacturing sector is experiencing unprecedented growth, driven by increasing demand for Earth observation, IoT connectivity, and space-based services. In this rapidly expanding market, EnduroSat has secured €95.7M ($104M) in Series B funding to accelerate production of its advanced small satellite platforms, positioning the Bulgarian company as a key player in the European space tech ecosystem. The funding round was led by Riot Ventures, with participation from several strategic investors focused on deeptech and aerospace innovation. This represents one of the largest funding rounds in the European small satellite sector, reflecting growing confidence in commercial space applications and the strategic importance of European space capabilities. Small satellite funding attracts strategic European backing Riot Ventures’ investment thesis centres on the democratisation of space access through cost-effective satellite solutions. The fund, known for backing transformative European technology companies, sees EnduroSat’s vertically integrated approach as crucial for competing with established players like Planet Labs and Spire Global. “EnduroSat represents the future of European space technology independence,” noted a Riot Ventures partner. “Their ability to deliver complete satellite solutions from hardware to data services positions them uniquely in a market increasingly focused on vertical integration.” The investor mix reflects broader trends in European venture capital, with traditional tech VCs increasingly comfortable with hardware-intensive businesses that offer software-like scalability through data services and satellite constellation management. Bulgarian space tech targets European market leadership Founded in 2015 and headquartered in Sofia, EnduroSat has built a reputation for delivering customisable small satellites with rapid deployment capabilities. The company’s platforms serve diverse applications including Earth observation, maritime monitoring, and agricultural intelligence—sectors experiencing significant growth across European markets. The funding will primarily support manufacturing scale-up at EnduroSat’s Sofia facility, enabling the company to meet increasing demand from European government agencies and commercial clients. With regulatory frameworks like the EU Space Programme creating tailwinds for European space companies, EnduroSat is well-positioned to capitalise on growing investment in space-based services. “This funding enables us to accelerate our mission of making space accessible for everyone,” said EnduroSat’s CEO. “We’re seeing unprecedented demand for our satellite solutions across Europe, and this investment allows us to scale production while maintaining our focus on innovation.” The company plans to expand its constellation capabilities and enhance its data analytics platform, competing directly with US-based providers whilst offering European organisations greater data sovereignty and compliance with GDPR requirements. This funding milestone signals Europe’s growing ambition in commercial space, with EnduroSat joining companies like Isar Aerospace and The Exploration Company in building a robust European space technology ecosystem capable of competing globally whilst serving continental strategic interests.

Europe’s digital health sector continues its robust funding trajectory as regulatory tailwinds and an ageing population create unprecedented opportunities for precision medicine platforms. The latest beneficiary of this trend is Human Health, which has secured €4.7 million in seed funding led by LocalGlobe to advance its patient-first approach to precision healthcare delivery. The funding underscores growing investor confidence in European healthtech startups that prioritise patient outcomes over traditional healthcare metrics. Human Health’s platform represents a shift towards personalised medicine that could reshape how Europeans access and receive healthcare services across fragmented national systems. LocalGlobe leads precision health funding with strategic vision LocalGlobe’s decision to lead this round reflects the London-based VC’s thesis around backing European founders who tackle complex, regulated markets with technology-first solutions. The firm, known for early investments in successful European scale-ups, sees significant potential in Human Health’s approach to precision medicine. “We’re backing a team that understands the intricacies of European healthcare systems whilst building technology that can scale across borders,” said a LocalGlobe partner familiar with the investment. The VC’s portfolio already includes several healthtech companies that have successfully navigated European regulatory requirements whilst expanding internationally. This seed round positions Human Health alongside other European precision health startups that have attracted significant venture capital in recent months. The €4.7 million figure sits comfortably within the typical range for European healthtech seed rounds, which have averaged €3-6 million over the past 18 months according to industry data. Platform targets European healthcare transformation Human Health’s patient-first precision platform addresses a critical gap in European healthcare delivery, where fragmented systems often struggle to provide personalised treatment pathways. The startup’s technology aims to bridge this divide by leveraging data analytics and machine learning to deliver tailored health insights directly to patients and healthcare providers. The funding will accelerate product development and support the company’s expansion across key European markets, where regulatory frameworks like GDPR provide both challenges and competitive advantages for data-driven healthcare solutions. Human Health’s approach to data privacy and patient consent positions it well for the increasingly regulated European healthtech landscape. “Our vision extends beyond traditional healthcare boundaries,” explained the company’s leadership team. “We’re building a platform that empowers patients with actionable insights whilst providing healthcare professionals with the tools they need to deliver truly personalised care.” The platform’s focus on patient empowerment aligns with broader European policy initiatives around patient rights and healthcare digitalisation. With this funding secured, Human Health joins a growing cohort of European healthtech companies that are redefining precision medicine for the continent’s unique regulatory and cultural landscape. The company’s patient-centric approach could prove particularly valuable as European healthcare systems increasingly prioritise preventive care and personalised treatment protocols.