Europe’s construction technology sector is attracting growing investor attention as the continent grapples with ageing building stock and heightened awareness of seismic risk. From southern Italy to the Balkans and beyond, millions of structures remain vulnerable to earthquake damage, creating a substantial market opportunity for companies developing smart, non-invasive protection systems. Milan-based ISAAC antisismica has now closed a €14 million investment round to expand its proprietary active mass damper technology, bringing total funding to €21.7 million. The round saw participation from a strong consortium of European investors, including CDP Venture Capital, 360 Capital Partners (also through Fondo Parallelo LV 360 – Lombardia Venture), Axon Partners Group, Gruppo Azimut, Ring Capital and NovaCapital. The proceeds will be deployed to advance ISAAC’s earthquake resilience technology, expand its engineering and commercial teams, and accelerate international growth beyond its Italian home market. Strategic investors back seismic safety innovation The investor syndicate reflects the cross-border appeal of ISAAC’s proposition. CDP Venture Capital, the venture arm of Italy’s national promotional institution Cassa Depositi e Prestiti, has been a consistent backer of the company. Their continued involvement alongside international players such as Spain’s Axon Partners Group and France’s Ring Capital signals that ISAAC’s earthquake resilience technology is resonating well beyond Italian borders. Founded in 2018 by Alberto Bussini, a mechatronic engineering graduate of the Politecnico di Milano, ISAAC developed from an academic research project into a commercially proven enterprise. The company’s core innovation lies in its active mass damper systems, which counteract building oscillations during seismic events through controlled dynamic response. Unlike traditional retrofitting methods that require invasive structural reinforcement, ISAAC’s modular approach preserves building integrity and allows installation without disrupting ongoing operations. The technology has already demonstrated its value at scale. Hundreds of ISAAC devices are currently operational across strategic buildings in Italy, including the Policlinico San Martino Hospital in Genoa — one of the country’s largest hospital complexes with daily occupancy exceeding 9,000 people — and the Pilot Tower of the Port of Genoa, designed by the Renzo Piano Building Workshop. With 2025 revenues reaching approximately €9 million, ISAAC has established a credible commercial trajectory alongside its technical achievements. European seismic resilience market presents growing opportunity The broader market context strongly favours ISAAC’s expansion plans. The European Union’s building renovation wave initiative, a cornerstone of the Green Deal, is unlocking parallel investments in structural modernisation. National implementations of Eurocode 8, which governs earthquake-resistant design standards, are compelling the integration of advanced seismic protection systems in public works, schools, hospitals and high-occupancy residential buildings across member states. Italy alone faces enormous seismic vulnerability, with much of its existing building stock predating modern safety codes. The challenge extends across southern Europe and into newer EU member states, where ageing infrastructure similarly requires upgrading. The market is evolving towards intelligent, sensor-equipped solutions — precisely the direction in which ISAAC has positioned itself with its smart, data-driven approach to seismic protection. With €14 million in fresh capital and a proven technology platform, ISAAC is well placed to capitalise on this structural market tailwind. The company’s ability to protect buildings without invasive modifications gives it a distinctive competitive edge as European regulators and building owners increasingly prioritise both safety and operational continuity. The coming years will be critical as ISAAC scales its production capacity, expands internationally and works to establish active mass damper technology as a standard approach to earthquake resilience across the continent. Summary Company ISAAC antisismica Headquarters Milan, Italy Founded 2018 Founder Alberto Bussini Round Investment round Amount €14 million (€21.7M total funding) Key Investors CDP Venture Capital, 360 Capital Partners, Axon Partners Group, Gruppo Azimut, Ring Capital, NovaCapital Use of Funds Technology advancement, team expansion, international growth, production scaling

The European wealth-tech infrastructure sector is experiencing a decisive shift, as financial institutions across the continent accelerate their transition from legacy systems to modern, API-driven investment platforms. Amid growing demand for embedded finance solutions and digital pension products, Berlin-based Upvest has secured $125 million in new financing to cement its position as Europe’s leading provider of API-first investment infrastructure. The financing package comprises a $90 million equity round co-led by Sapphire Ventures and Tencent Holdings, with continued participation from existing investors Bessemer Venture Partners and BlackRock. Upvest has also finalised a $35 million debt facility to further strengthen its capital base. The deal values the company at €640 million, nearly doubling its €360 million valuation from its previous round in December 2024. Sapphire Ventures and Tencent lead strategic round The involvement of both Sapphire Ventures, a prominent Silicon Valley growth-stage investor, and Tencent, the Chinese technology conglomerate, underscores the global appetite for European fintech infrastructure. The round marks a notable validation of Upvest’s approach: rather than competing with banks and brokers, the company provides the underlying rails on which these institutions build and scale their investment offerings. Martin Kassing, CEO and co-founder of Upvest, noted that the round reflects the company’s momentum, stating that the $125 million raise “just 12 months after our Series C, underscores our momentum to be the top choice for financial institutions launching and scaling best-in-class investment experiences at lightspeed in Europe.” Founded in 2017 by Kassing alongside Dr. Til Rochow and Tobias Auferoth, Upvest has grown into a regulated securities institution with a team of 280 professionals. The company now supports more than 30 major financial institutions and processed over 100 million client orders throughout 2025. Its client roster includes some of Europe’s most prominent digital banks and fintechs, among them DKB, Santander’s Openbank, Revolut, N26, Webull, and Raisin. European investment infrastructure enters a new phase The fresh capital will be directed towards two strategic priorities that reflect broader shifts in European financial services. First, Upvest is building support for complex local tax wrappers, including Germany’s forthcoming Altersvorsorgedepot and the United Kingdom’s self-invested personal pensions (SIPPs), enabling institutions to launch pension products through its API in months rather than the years typically required for in-house development. Second, the company is rolling out AI-supported investment engines that provide real-time, programmable execution APIs. This positions Upvest at the intersection of two powerful trends: the democratisation of investment access across Europe and the integration of artificial intelligence into wealth management workflows. By absorbing regulatory and technical complexity into its platform, Upvest enables its clients to focus on the customer experience rather than back-office infrastructure. The Upvest funding round represents one of the largest recent raises in the European B2B fintech infrastructure space, signalling sustained investor confidence in the sector despite broader market caution. As European regulators continue to push for greater retail investment participation and pension reform, companies that provide the underlying technological architecture stand to benefit significantly from the structural tailwinds ahead. Summary

The application of artificial intelligence in clinical trials is rapidly reshaping how the pharmaceutical and biotech industries manage the vast, fragmented data sets that underpin drug development. With clinical trial data volumes having grown by more than 400 per cent over the past decade, the need for intelligent infrastructure capable of unifying and analysing this information has never been more pressing. Zurich-based startup Rivia has raised €13 million in a Series A round to expand its agentic AI data platform, positioning itself at the forefront of this transformation. The round was led by Earlybird, one of Europe’s most established venture capital firms, with Defiant joining as a new investor alongside existing backers Speedinvest, Amino Collective, and Nina Capital. The fresh capital will support product development, team expansion, and international growth, with a particular focus on the US biotech market as demand for more efficient trial execution continues to accelerate. Earlybird leads Series A as agentic AI gains traction in healthcare Founded in 2022 by Erik Scalfaro and Tiago Kieliger, Rivia has built what it describes as an agentic data engine — a system in which AI agents actively surface insights, flag anomalies, and help coordinate the operational layer of a clinical trial, rather than simply storing and visualising data. The platform comprises three core components: Rivia Core, which consolidates fragmented data from thousands of heterogeneous files across vendors into a structured foundation; Rivia Detect, which continuously monitors data quality, clusters thousands of issues, and automates corrective actions; and Rivia Spark, which transforms natural language queries into visual analytics for patient cohorts, adverse events, and biomarkers. The company currently supports approximately 40 clinical trials across Europe and the United States, integrating data from specialty laboratories, patient wearables, genomics platforms, and imaging systems into a single, harmonised infrastructure. Erik Scalfaro, CEO and co-founder of Rivia, has spoken about the company’s deliberate approach to building its technology, noting that Rivia started with the foundational data engine before layering in agentic capabilities — a sequence he believes gives the company a structural advantage over competitors. AI in clinical trials market poised for significant growth The global AI in clinical trials market is estimated at approximately $2.09 billion in 2026 and is projected to reach $18.62 billion by 2040, reflecting a compound annual growth rate of 17 per cent. Industry analysts anticipate that AI-driven solutions could reduce clinical development timelines by 30 to 40 per cent within the next two to five years, a prospect that is drawing considerable investor attention to the space. Rivia’s focus on agentic AI — where autonomous agents manage workflows from data integration to real-time risk monitoring — places it within one of the fastest-growing segments of health technology. Unlike traditional clinical data management systems that require extensive manual intervention, agentic platforms can proactively identify protocol deviations, predict enrolment bottlenecks, and automate regulatory reporting workflows. This shift from passive data storage to active intelligence represents a fundamental change in how trials are operated. The Series A round follows a €3 million seed round in 2024, also backed by Speedinvest, Amino Collective, and Nina Capital. With the European clinical trial ecosystem increasingly competing for global biotech investment, platforms like Rivia that bridge European innovation with US market access are well positioned to capture growing demand for next-generation trial infrastructure. Summary Company: RiviaHeadquarters: Zurich, SwitzerlandFounded: 2022Founders: Erik Scalfaro (CEO), Tiago KieligerRound: Series AAmount: €13 million (~$15 million)Lead investor: EarlybirdOther investors: Defiant, Speedinvest, Amino Collective, Nina CapitalUse of funds: Product development, team growth, US market expansion

The global autonomous freight sector is entering a pivotal phase, with mounting investor confidence signalling that driverless logistics is moving beyond pilot programmes and into commercial viability. European companies, in particular, are positioning themselves at the forefront of this transition, combining electric vehicle technology with autonomous driving capabilities to address both decarbonisation targets and chronic driver shortages across the haulage industry. Swedish autonomous freight company Einride has secured $113 million in an oversubscribed PIPE (private investment in public equity) financing round, ahead of its planned listing on the New York Stock Exchange. The capital raise, which exceeded the company’s initial target of $100 million, comes in advance of Einride’s merger with special purpose acquisition company Legato Merger Corp. III, a transaction expected to close in the first half of 2026 under the proposed ticker symbol ENRD. Oversubscribed PIPE reflects strong investor conviction The $113 million PIPE was backed by a combination of new and existing investors, including Stockholm-based EQT Ventures and a major global asset management firm based on the West Coast of the United States. The oversubscription underscores growing institutional appetite for autonomous trucking plays, particularly those with proven commercial operations and a clear path to public markets. Combined with approximately $220 million held in Legato’s trust account, the completed transaction is expected to deliver around $333 million in gross proceeds before redemptions and transaction costs. The deal values Einride at a pre-money valuation of $1.35 billion, a recalibration from the $1.8 billion figure initially attached to the SPAC merger when it was announced in November 2025. Roozbeh Charli, Chief Executive of Einride, who took over from founder Robert Falck in May 2025, has framed the raise as validation of the company’s commercial trajectory. The proceeds will support Einride’s technology roadmap and global expansion, including autonomous deployments across North America, Europe, and the Middle East. Autonomous electric freight gains commercial traction Founded in 2016 by Robert Falck, a former Volvo Powertrain engineering director, Einride has built a full-stack freight ecosystem that combines electric and autonomous trucks with its proprietary AI operating system, Einride Saga. The platform enables shippers to optimise routes, reduce costs, and eliminate emissions across their logistics operations. The company operates a fleet of approximately 200 heavy-duty electric trucks across Europe, North America, and the UAE, serving more than 25 customers in seven countries, including Heineken, PepsiCo, GE Appliances, and Carlsberg Sweden. Einride’s autonomous trucks are notably cabless — designed from the outset without space for a human driver — and were the first commercially deployed autonomous electric vehicles approved for public roads in both Sweden and the United States. The company reports over 1,700 driverless hours in contracted customer operations, more than 11 million electric miles driven, and over 350,000 executed shipments to date. Financially, Einride has disclosed a contracted annual recurring revenue base of $65 million, with over $800 million in potential long-term ARR from its pipeline. The company has raised a cumulative $865 million across 13 funding rounds, positioning it as one of the most well-capitalised players in the European autonomous mobility space. European autonomous trucking market accelerates Einride’s NYSE listing comes at a time of significant momentum in the autonomous trucking sector. The global autonomous truck market is projected to expand from $47.4 billion in 2025 to over $93 billion by 2030, with Europe accounting for roughly 30 per cent of the market. Stringent emissions regulations, particularly in Northern Europe, are accelerating adoption of electric and autonomous freight solutions, while countries such as Germany, Sweden, and the Netherlands continue to spearhead regulatory frameworks for autonomous vehicle deployment. The SPAC route to public markets represents something of a calculated bet for Einride. While SPAC listings have faced scepticism following a wave of underperforming deals in 2021 and 2022, Einride’s combination of commercial revenue, operational fleet, and institutional backing from the likes of EQT Ventures may distinguish it from the speculative pre-revenue SPAC mergers of earlier years. As autonomous freight technology matures and regulatory pathways become clearer across both sides of the Atlantic, Einride’s public debut will serve as an important bellwether for the sector’s investability. Summary Company: EinrideHeadquarters: Stockholm, SwedenFounded: 2016CEO: Roozbeh CharliRound: $113M PIPE (pre-SPAC)Valuation: $1.35 billion (pre-money)Key Investors: EQT Ventures, undisclosed West Coast asset managerListing: NYSE via SPAC merger with Legato Merger Corp. III (H1 2026)Use of Funds: Technology roadmap, autonomous deployments, global expansion

The agricultural technology sector is experiencing a renewed wave of investment as artificial intelligence reshapes how food moves from farm to fork. Global supply chains, long reliant on manual processes and fragmented intermediaries, are attracting venture capital attention as startups demonstrate the potential of AI-driven platforms to reduce inefficiency across the value chain. Athens-based Wikifarmer has raised €7.1 million ($7.7 million) to accelerate the development of its AI-powered B2B marketplace connecting food businesses directly with agricultural producers. The funding round was co-led by Brighteye Ventures and Piraeus Bank, with continued backing from existing investors Point Nine Capital and Metavallon VC. The investment brings Wikifarmer’s total funding to approximately €15.6 million. Brighteye Ventures and Piraeus Bank co-lead agtech investment The investor composition signals a strategic convergence of venture capital expertise and deep agricultural sector knowledge. Brighteye Ventures, a European edtech and future-of-work investor, brings experience backing platforms that leverage technology to transform traditional industries. Piraeus Bank, one of Greece’s largest financial institutions with extensive agricultural lending operations, adds sector credibility and potential distribution channels across the Mediterranean region. According to co-founder and CEO Ilias Sousis, a former Google Greece director who left the tech giant after 11 years to launch Wikifarmer in 2017 alongside agronomist Petros Sagos, the company is using AI to restructure supply chains and unlock value lost to inefficiency and outdated processes. The latest round will enable Wikifarmer to take its model global, expanding into Latin America and Africa to bring high-quality produce to the global market at fair prices. Wikifarmer’s platform has evolved significantly from its origins as a free agricultural knowledge library — sometimes described as the “Wikipedia of Farming” — into what the company now calls an operating system for agricultural trade. The AI capabilities span price intelligence and market forecasting based on commodity data and seasonal trends, automated matching between buyers and verified suppliers, and transaction management tools covering requests for quotes, offer comparisons, documentation, credit risk assessment, and trade execution. European agtech investment targets supply chain digitisation The funding comes at a pivotal moment for the European agtech landscape. While overall venture investment in agricultural technology has faced headwinds globally, platforms addressing supply chain digitisation have continued to attract capital as buyers and producers seek more transparent, efficient trade routes. The agricultural supply chain remains one of the least digitised segments of the global economy, with vast quantities of produce still traded through phone calls, spreadsheets, and physical brokers. Wikifarmer currently operates with teams in Athens and Sevilla, supporting buyers and producers across Spain, the Mediterranean, and over 45 countries globally. The platform facilitates transactions in commodities including olive oil, dried fruits, nuts, spices, and fresh or frozen produce between Mediterranean producers and buyers in Europe and the Middle East. A portion of the new capital will also be deployed towards launching FarmClick, a joint venture set to go live in Greece in 2026. The raise positions Wikifarmer as one of the more prominent European agtech platforms tackling the B2B agricultural trade space, at a time when AI-driven supply chain optimisation is increasingly viewed as essential infrastructure for global food security. With its knowledge library available in 17 languages and a growing transactional marketplace, the company represents a model for how technology can bridge the gap between fragmented agricultural producers and the businesses that rely on them. Summary Company: WikifarmerHeadquarters: Athens, GreeceFounded: 2017Founders: Ilias Sousis (CEO) and Petros SagosRound: €7.1 million ($7.7 million)Lead Investors: Brighteye Ventures, Piraeus BankParticipating Investors: Point Nine Capital, Metavallon VCTotal Funding: ~€15.6 million ($18 million)Use of Funds: AI development, global expansion (Latin America, Africa), FarmClick joint venture launch

The embodied AI sector is attracting growing investor attention as robotics companies move beyond simple perception and manipulation towards systems capable of sustained autonomous operation. Stateful Robotics, a spinout from the University of Oxford, has raised $4.8 million in a pre-seed round to develop technology that gives robots the ability to remember past events, adapt to changing conditions, and plan tasks over extended periods. The round was led by Amadeus Capital Partners and Oxford Science Enterprises, with additional backing from serial entrepreneur Stan Boland, founder of autonomous vehicle company Five. The funding will be used to accelerate deployment of Stateful’s platform, which introduces what the company describes as a new layer of “long-horizon intelligence” for robotic systems. Bridging the gap between perception and persistent autonomy While recent advances in large language models and foundation AI systems have significantly improved robots’ ability to perceive and interpret their surroundings, most systems still struggle when environments change. Unexpected obstacles, shifting lighting conditions, or operational disruptions can quickly derail robotic systems that lack the ability to learn from past experiences. Stateful Robotics is tackling this fundamental limitation head-on. The company’s technology allows robots to plan tasks over hours or days rather than moments — a capability that is critical for real-world deployment in complex, dynamic environments. This approach builds on more than a decade of research at the Oxford Robotics Institute in areas such as autonomy, decision-making under uncertainty, and probabilistic verification. Stateful Robotics was co-founded by chief executive Kirsty Lloyd-Jukes, who previously led Latent Logic, an Oxford spinout acquired by Waymo, alongside Professor Nick Hawes, director of the Oxford Robotics Institute, Professor David Parker, and Dr Bruno Lacerda. The team’s combination of entrepreneurial experience and deep academic expertise in robotics and formal verification positions them well to tackle one of the field’s most persistent challenges. Industrial applications drive early traction Stateful Robotics is already working with pilot customers in sectors including logistics and infrastructure, where reliability and safety are critical requirements for scaling automation. These industries represent large addressable markets where the limitations of current robotic systems — particularly their inability to handle unexpected changes gracefully — remain a significant barrier to widespread adoption. The European robotics and embodied AI landscape has seen a surge of investment activity in recent months. The convergence of improved AI capabilities, growing labour shortages in key industrial sectors, and increasing demand for automation is creating favourable conditions for startups that can demonstrate practical, reliable solutions. Oxford continues to be a prolific source of deep technology spinouts, with its robotics research group maintaining a strong track record of commercial translation. With this pre-seed funding secured, Stateful Robotics is positioned to advance from research prototype to commercial deployment, targeting industrial environments where persistent, adaptive robotic intelligence can deliver meaningful operational improvements. Summary Company: Stateful Robotics — Oxford, United KingdomFounded: 2025What they do: Long-horizon intelligence platform for roboticsRound: Pre-seed — $4.8 millionLead investors: Amadeus Capital Partners, Oxford Science EnterprisesAngel investor: Stan Boland (founder, Five)Use of funds: Accelerate platform deployment in logistics and infrastructure

Europe’s deeptech investment ecosystem is gaining traction as more venture capital firms commit dedicated resources to bridging the gap between academic research and commercial application. Franco-Italian venture capital firm 360 Capital has announced a first closing of €85 million for Poli360 2, its new early-stage fund dedicated to technology transfer and deeptech startups spun out of European universities. The fund, which targets a final close of €100 million, will back 20 to 25 companies with initial cheques of around €2 million and follow-on capabilities reaching up to €8 million. At least 80 per cent of investments will be deployed in Italy, with up to 20 per cent allocated elsewhere in Europe, reflecting the firm’s Franco-Italian heritage and its deep ties to the continent’s leading research institutions. Strategic backers signal institutional confidence in deeptech The investor base for Poli360 2 includes a notable mix of public and private institutions. The European Investment Fund, CDP Venture Capital, several Italian pension funds, family offices, and corporate investors have all committed capital. Among the corporate backers are Brembo, the global leader in braking systems, MBDA, the European defence missile systems company, and Lucchini RS, a specialist in railway and industrial components. The presence of industrial corporate investors alongside institutional capital reflects a deliberate strategy. Deeptech startups — particularly those commercialising breakthrough research in areas such as advanced materials, energy systems, and industrial automation — often benefit from strategic partnerships with established manufacturers who can accelerate technology adoption and provide market access. Founded in 1997, 360 Capital has built a track record across the European technology landscape. The Poli360 2 fund builds on the experience of its predecessor, Poli360 1, which assembled a portfolio of approximately twenty holdings including Energy Dome, an innovative long-duration energy storage company, as well as Isaac and PhotonPath. European deeptech ecosystem matures with dedicated capital The fund’s strategy centres on two primary verticals: industry automation and sustainability. These themes align closely with broader European policy objectives, including the EU’s push for technological sovereignty and its ambitious climate targets. By focusing on seed-stage investments in university spinouts, 360 Capital is positioning itself at the earliest and most critical point in the deeptech commercialisation journey — where promising research often struggles to attract patient, knowledgeable capital. The Poli360 2 launch coincides with growing momentum for deeptech investment across Europe. Multiple specialist funds have emerged in recent years to address the specific needs of science-based startups, which typically require longer development timelines and deeper technical due diligence than their software counterparts. The European Investment Fund’s participation in Poli360 2 underscores the strategic importance policymakers attach to strengthening the continent’s technology transfer infrastructure. With a final close expected by year-end, 360 Capital aims to cement its position as a leading early-stage deeptech investor in Southern Europe while expanding its reach across the broader European research ecosystem. Summary Fund: Poli360 2 — 360 CapitalHQ: Paris, France / Milan, ItalyFounded: 1997 (360 Capital)First close: €85 million (target: €100 million)Focus: Deeptech, university spinouts — Industry Automation and SustainabilityGeography: 80% Italy, 20% rest of EuropeCheque size: ~€2M initial, up to €8M follow-onKey LPs: European Investment Fund, CDP Venture Capital, Brembo, MBDA, Lucchini RS

The European venture capital landscape continues to evolve, with solo general partners increasingly challenging the dominance of traditional multi-partner firms. Nathan Benaich’s Air Street Capital has closed its third fund at $232 million, making it the largest solo GP venture fund ever raised in Europe and signalling growing institutional confidence in concentrated, thesis-driven investment models focused on artificial intelligence. Fund III represents a remarkable growth trajectory for the London-based firm. Air Street Capital launched in 2019 with a modest $17 million debut fund, followed by a $121 million Fund II. The new vehicle will write initial cheques of $500,000 to $15 million for early-stage companies in North America and Europe, with a smaller allocation for growth-stage investments of up to $25 million. The fund’s precise figure — $232,323,232 — reflects Benaich’s characteristically unconventional approach. Institutional backing validates solo GP model The fund is backed by US university endowments, foundations, hospitals, and institutional investment platforms, many of which increased their commitments from previous funds or are investing in a solo GP venture firm for the first time. This institutional endorsement is significant: $232 million of LP conviction behind a single decision-maker represents a structural shift in how European venture capital is being allocated. The solo GP model offers distinct advantages that are resonating with sophisticated allocators. Solo general partners can move faster on term sheets, maintain consistent investment philosophy across fund cycles, and avoid the internal politics that sometimes cause larger partnerships to pass on unusual or contrarian bets. For a sector as fast-moving as artificial intelligence, this agility is proving to be a competitive edge. Air Street Capital’s portfolio already includes several notable AI-first companies such as Synthesia, the AI video generation platform, as well as Black Forest Labs, Sereact, Profluent, Delian Alliance Industries, and Poolside. The firm invests across AI applications in software, science, the physical world, and defence — sectors where artificial intelligence is moving from experimental to mission-critical. European AI investment gains momentum Air Street Capital’s fundraise comes at a time of unprecedented activity in European AI investment. According to recent data, funding rounds in Europe have never been larger, with US capital increasingly flowing into the continent’s most promising technology companies. The median funding round for a European startup grew 32 per cent between 2024 and 2025, the biggest leap since 2020. Benaich, who is also known for authoring the influential annual State of AI Report, founded Air Street Capital around a focused thesis: back AI-first companies at the earliest stages, lead rounds, and hold conviction long enough for the science to compound into commercial reality. This approach has attracted growing attention as the European ecosystem matures and AI-native startups move from research labs to production environments. The fund’s closing reinforces a broader trend of capital concentration around specialist, high-conviction investors in the AI space. As the technology sector navigates an era defined by rapid advances in foundation models and their commercial applications, investors with deep domain expertise and streamlined decision-making processes are increasingly well-positioned to identify and support the next generation of transformative companies. Summary Company: Air Street Capital — London, United KingdomFounded: 2019Fund: Fund III — $232 millionFocus: AI-first companies across software, science, physical world, and defenceStage: Early-stage ($500K–$15M), select growth ($25M)Notable portfolio: Synthesia, Black Forest Labs, Sereact, Profluent, PoolsideLP base: US university endowments, foundations, hospitals, institutional platforms

Europe’s cocoa-free chocolate segment is attracting growing investor attention as confectionery manufacturers scramble to mitigate the supply chain volatility that has rattled the industry over the past two years. Milan-based foodtech startup Foreverland has secured €6 million in a new funding round to scale its carob-based chocolate alternative, bringing its total capital raised to €9.4 million. The round saw follow-on investment from existing backers Kost Capital and Maia Ventures, alongside a notable roster of new investors including CDP Venture Capital, Linfa agrifoodtech fund (managed by Riello Investimenti SGR), and Newtree Impact. The funds will be deployed to accelerate commercial expansion across Europe, strengthen partnerships with major confectionery manufacturers, recruit senior commercial talent from the cocoa and chocolate industry, and develop new products — including an organic cocoa-free line. Strategic investors target cocoa alternatives amid supply instability The investor syndicate reflects a deliberate blend of agrifood-specialist capital and impact-oriented funds. CDP Venture Capital, the venture arm of Italy’s national promotional institution Cassa Depositi e Prestiti, brings institutional credibility and a track record of backing Italian deep tech and sustainability ventures. Newtree Impact, meanwhile, signals growing appetite among impact investors for food system resilience plays — an area where cocoa alternatives sit squarely at the intersection of climate adaptation and industrial innovation. Massimo Sabatini, co-founder and CEO of Foreverland, noted that the funding reflects the company’s maturation from a foodtech innovator into a dependable industrial partner. With IFS Food certification now in place and commercial demand accelerating, the company is positioning itself as a plug-and-play solution for confectionery manufacturers seeking to de-risk their cocoa exposure. Foreverland’s flagship product, Choruba, is produced from Mediterranean crops — primarily carob — and is engineered to replicate the taste and functionality of traditional chocolate. The company operates a production facility in Puglia with an annual capacity of 500 tonnes, a scale that distinguishes it from many early-stage cocoa alternative ventures still operating at pilot level. A shifting landscape for Europe’s chocolate industry The cocoa market has experienced extraordinary turbulence. While cocoa futures have retreated from the record highs of 2024, falling roughly 70 per cent to around $3,000 per tonne in early 2026, structural pressures persist. Climate-related disruptions in West Africa, price volatility, and evolving consumer expectations around sustainability continue to reshape procurement strategies across the confectionery sector. Major manufacturers have already begun reducing cocoa content in their products. Industry data from Mintel suggests that 43 per cent of UK chocolate consumers express interest in cocoa-free products, provided taste remains uncompromised — a signal that demand-side readiness is building in parallel with supply-side innovation. Foreverland is not alone in this space. Cargill has developed NextCoa from roasted grape and sunflower seeds, while Germany’s Planet A Foods has raised significant capital for its oat-and-sunflower-based ChoViva. However, Foreverland’s Mediterranean sourcing model and existing industrial-scale production capacity position it competitively within the European landscape, particularly for manufacturers in southern Europe seeking locally sourced alternatives. Founded in Milan in 2023 by Massimo Sabatini, Riccardo Bottiroli, Giuseppe D’Alessandro, and Massimo Brochetta, the company has moved swiftly from concept to commercial scale. With this latest round, Foreverland plans to deepen its presence in Germany, France, and Italy — three markets where both manufacturer demand and consumer appetite for chocolate alternatives are accelerating. Summary Company Foreverland Headquarters Milan, Italy Founded 2023 Round Growth (post-seed) Amount €6 million (€9.4M total raised) Key investors Kost Capital, Maia Ventures, CDP Venture Capital, Linfa agrifoodtech fund, Newtree Impact Use of funds European expansion, manufacturer partnerships, commercial hiring, organic product line development

Europe’s food technology sector is attracting growing institutional capital as the confectionery industry confronts one of its most significant structural challenges in decades. Chronic cocoa supply shortages — driven by climate disruption across West African growing regions and compounded by disease affecting cacao harvests — have sent cocoa prices to record highs, forcing manufacturers to seek industrial-scale alternatives offering supply stability and cost predictability. Against this backdrop, investors are increasingly channelling capital into startups capable of delivering commercially credible cocoa-free chocolate solutions. Milan-based foodtech company Foreverland has secured €6 million in a new funding round, bringing its total capital raised to €9.4 million. The round includes follow-on investment from Kost Capital and Maia Ventures, alongside new backers CDP Venture Capital, Linfa agrifoodtech fund (managed by Riello Investimenti SGR), and Newtree Impact. Funds will be deployed to accelerate European commercial expansion, deepen partnerships with confectionery manufacturers, scale production capacity, and develop an organic cocoa-free product line. Investor analysis: institutional backing signals industrial credibility The composition of this round reflects a clear investment thesis: Foreverland has moved well beyond the proof-of-concept stage and is now operating as a credible industrial partner. CDP Venture Capital, Italy’s national innovation fund, has backed the company from its earliest stages, with this latest participation signalling continued institutional confidence in the platform. The involvement of Newtree Impact — a sustainability-focused vehicle — also underscores the environmental dimension of the proposition. Foreverland’s core ingredient, Choruba, requires 90% less water and generates 80% fewer carbon emissions compared to conventional cocoa production, making it compelling not only commercially but from an ESG standpoint. Massimo Sabatini, co-founder and CEO of Foreverland, said the round reflects progress “not only as a foodtech innovator but also as a dependable industrial partner for confectionery manufacturers.” He added: “With IFS Food certification in place and demand accelerating, we’re scaling commercial growth across Europe, strengthening key partnerships, and bringing in senior talent from the cocoa and chocolate industry to support manufacturers at scale.” Market context: why Europe’s confectionery sector is rethinking cocoa dependency Foreverland’s Choruba ingredient is derived from carob and other Mediterranean crops, engineered to replicate the taste and functional properties of chocolate at manufacturing scale. Unlike many early-stage cocoa substitute concepts still at the R&D phase, the company has secured IFS Food certification — a prerequisite for entry into mainstream confectionery supply chains — and has established commercial partnerships with established manufacturers including Incom Leone, Walcor, Maxtris, and Dulciar. The European confectionery market, worth over €50 billion annually, has been under considerable pressure as record-high cocoa prices in 2024 and 2025 forced manufacturers across the continent to absorb cost increases or reformulate recipes. Foreverland’s model, which ties ingredient pricing to Mediterranean agricultural cycles rather than volatile West African harvests, positions Choruba as a structural solution rather than a short-term hedge. The broader cocoa-free chocolate space has attracted increasing investor interest over the past 18 months, with several European and American startups securing funding to develop alternatives ranging from precision fermentation to plant-based blends. Founded in 2023 by Massimo Sabatini, Riccardo Bottiroli, Giuseppe D’Alessandro, and Massimo Brochetta, Foreverland has moved with notable speed from concept to commercial deployment. The company raised its first external capital through Italy’s FoodSeed national agrifoodtech programme before closing a €3.4 million seed round in October 2024. With €9.4 million now under its belt and a growing industrial partner base, the company’s next phase will test whether European confectionery manufacturers are prepared to integrate cocoa-free alternatives at meaningful scale — and whether the pace of consumer acceptance matches the momentum of investment. CompanyForeverland HQMilan, Italy Founded2023 RoundGrowth Amount raised€6 million Total raised€9.4 million Lead investorsCDP Venture Capital, Kost Capital Other investorsLinfa agrifoodtech fund (Riello Investimenti SGR), Newtree Impact, Maia Ventures Use of fundsEuropean expansion, production scale-up, organic cocoa-free product line, senior talent acquisition

When I started working in VC, conferences were treated as a nice extra. Something you sprinkled on top of a sourcing strategy that lived elsewhere, often in a partner’s address book. Being an investor meant you mainly had to spend a few days out of the office per week for dealflow meetings, you attended the occasional panel slot if you had a friend on the programme team, shared a few tweets and that was it. But today conferences are part of the core marketing infrastructure that keeps the firm in the flow of founders, operators, LPs and peers. These events act as a pretext to re-engage with warm or cold leads, whether a fund is at the beginning of their investment cycle or deep in fundraising for their next flagship fund.  Every tech city has its own flagship event. If you are a generalist VC, chances are you can easily identify 20 conferences that you are expected to show up at, and 40 that you could attend.  So, where do you start? How do you really decide whether it’s a good reason to attend? Most investors only see the tip of the iceberg: the logo of the headline conference. They rarely see the resource constraints that come with executing the field work. That tension creates too familiar operational dramas for marketing teams, including last-minute “Where is my ticket?” message, partner demands for main-stage slots, and the flurry of FOMO driven interest because another prestigious fund has been announced as a partner. And yet, despite common belief, investors don’t attend conferences for the parties.  When I look at the 100 plus conferences I have attended over my career, I tend to group the real reasons into 10 buckets. 1. Qualified dealflow Good conferences act as magnets. They pull in the startups that are relevant for a specific thesis, geography or stage. For generalist VCs, niche events are a way to see a concentrated sample of the market in two days. For more specialist firms, these events are a way to go deeper into a vertical, and to be visible in that niche. 2. On-the-shelf networking Conferences provide “on the shelf networking”: the infrastructure of meetings, lounges, apps and social events is already built. You simply step into it. For investors, that is valuable across several fronts: they can connect with  founders and future founders, operators for senior hires, practical experts and   LPs exploring new funds.  3. LPs and the (secret) permanent fundraise Most funds are always fundraising. Events that attract LPs are therefore particularly attractive. Even a handful of good LP conversations can justify several days out of the office, especially if this involves underground Berlin (Super Return) or a roundtrip to the French Riviera (IPEM).  4. Media relationships Some partners only have meaningful conversations with journalists at conferences, mainly because engaging with the media is not part of their day-to-day routine. For them, conferences provide an efficient way to concentrate press engagement in one place without having to pitch themselves. For marketers handling complex logistics across several markets, an event is often the one moment where the stars align. 5. Thesis signalling Good investors have local-based theses and want to attract dealflow consistently across several years, whether or not they have cash to invest. Attending Stockholm-based conferences is a way to say, “we are serious about the Nordics” without having to buy billboards in the airport (although some folks do exactly that). In that sense, VCs and event organizers are sometimes competing as community enablers. Both are trying to become the natural node for a given ecosystem. 6. Speaking and thought leadership Speaking slots are a form of social currency in venture – and comes with a few perks such as “speaker dinners”. Many partners enjoy being on stage and the status premium associated with it. I guess there’s a reason why some people are more interested in how they will look like on their Slush stage picture than what they are going to say. Beyond ego, speaking opportunities give VCs a platform to articulate their thesis, test a narrative in front of a live audience, and attract founders at the very top of the funnel. Some of the best inbound I have seen has come within a week of a talk. A founder who heard a line and followed up. A journalist who spotted a quote for a later story. Someone who waited backstage with a pitch. This is part of why VCs can be VERY intense about speaking slots. From their perspective, stage time is not simply a visibility perk. It is a key input into the marketing engine. 7. Curation Some conferences have a strong reputation for curation. You trust that if you turn up at TEDx, DLD, or similar events, you will be challenged and inspired. For investors who spend most of their year buried in spreadsheets, this is attractive. Alas, I think the content quality has nosedived these last couple of years so it’s less true. 8. Portfolio support Serious investors use conferences to help portfolio companies with commercial introductions, support them on talent hunting, offer stage visibility and access to LPs, journalists, and peers. When a portfolio company is having a big moment, everything else tends to rearrange around it.  9. IRL experiences Many VC franchises have grown used to operating digitally. What is often missing is a reliable in person interface for the broader community around the fund. Conferences solve this by using those moments to crystallise the community you are building.  A simple breakfast, an LP catching up with several of your founders in one afternoon: these are small touches, but repeated over ten years they are part of how trust compounds.  10. Watching to competition Conferences are one of the few places where you can literally see how competitors behave with founders, with LPs, with the media and with each other. Who is always surrounded by founders. Who is quietly building a niche. Who is sponsoring heavily in a […]

Europe’s defence technology sector is witnessing unprecedented investment momentum, driven by shifting geopolitical realities and increasing demand for autonomous surveillance solutions. At the forefront of this transformation sits Rift, a Paris-based startup that has just secured €4.6 million in Series A funding to build Europe’s first on-demand aerial reconnaissance network. The round was led by AlleyCorp, the New York-based venture firm known for backing enterprise technology companies. This investment signals growing transatlantic interest in European defence tech capabilities, particularly as NATO allies prioritise technological sovereignty and autonomous reconnaissance systems. AlleyCorp leads aerial reconnaissance funding round AlleyCorp’s decision to lead this round reflects a broader strategic shift among US investors towards European defence technology startups. The firm, which has previously backed companies like MongoDB and Paperless Post, sees significant potential in Rift’s approach to democratising aerial intelligence gathering across civilian and military applications. “Rift’s technology addresses a critical gap in the European surveillance market,” noted a spokesperson from AlleyCorp. “Their ability to deploy on-demand reconnaissance missions using autonomous systems represents exactly the kind of dual-use innovation we expect to define the next decade of defence technology.” The investment comes at a time when European governments are accelerating defence technology procurement, with the EU’s European Defence Fund allocating €8 billion for collaborative defence research and development programmes. This regulatory tailwind positions Rift advantageously within a market expected to reach €24 billion by 2027. Building Europe’s autonomous surveillance network Rift’s platform combines advanced drone technology with artificial intelligence to provide real-time reconnaissance capabilities across multiple sectors. Unlike traditional surveillance methods that require significant infrastructure investment, the company’s on-demand model enables clients to access aerial intelligence through a software-as-a-service platform. The startup plans to use the funding to expand its autonomous fleet and enhance its AI-powered analytics capabilities. With operations currently focused on France and Germany, Rift aims to establish coverage across major European markets by 2026, positioning itself as the continent’s primary alternative to US-based surveillance providers. “European organisations need surveillance solutions that comply with GDPR and other regional privacy regulations,” explained Rift’s CEO. “Our platform is built from the ground up with European data sovereignty in mind, something that resonates strongly with both government and enterprise clients.” This funding positions Rift to compete directly with established players like Palantir and Anduril, whilst offering European clients the regulatory compliance and data localisation they increasingly demand. As defence technology becomes increasingly intertwined with civilian applications, Rift’s European-first approach may prove to be its strongest competitive advantage.