Euclyd raised more than €200 million in a Series A co-led by Samsung, Somerset Capital Partners, the Scaleup Europe Fund managed by EQT, and Innovation Industries. Peter Wennink, who ran ASML until 2024, becomes non-executive chairman.
We flagged the Eindhoven company in May, when it was a 2024 startup claiming a hundredfold gain in inference efficiency and had raised a fraction of this. The claim has not been demonstrated in silicon, and will not be until the systems ship in 2028.
So Samsung is funding a chip that competes for inference workloads its own foundry already serves, and a European syndicate has agreed to wait two years before anyone can check the number.
(CNBC)
Startups & Funding
Open Cosmos raises €300 million and puts factories in four countries
Open Cosmos closed €300 million led by Lightrock and ETF Partners, with Institut Català de Finances, Entrepreneurs First, the UK National Security Strategic Investment Fund, two pension funds, and Claret Capital Partners alongside. The Harwell company says it has signed more than $370 million of customer contracts in three and a half years.
Four factories in the UK, Spain, Portugal, and Greece, with a combined capacity of one satellite a day, spreads industrial capability into countries that normally buy space capacity rather than build it.
Rafel Jorda Siquier wants OpenConstellation to cut the delay from observation to usable intelligence from up to 48 hours down to 30 minutes, using onboard processing and inter-satellite links. That target only works if the satellites exist in volume, which is what the factories are for.
Exein reaches $1.7 billion on security that lives inside the device
Rome-based Exein raised $270 million led by Headline at a $1.7 billion valuation, with Sofina, Goldman Sachs, the EIB Group through the European Tech Champions Initiative, KfW Capital's Wachstumsfonds Deutschland, and Deutsche Telekom's T.Capital. The valuation has more than doubled since a raise nine months ago.
Founded in 2018, Exein puts security into device firmware rather than watching from outside, and says its code now runs on two billion chips, with Nvidia, AWS, and MediaTek among its customers. Gianni Cuozzo plans a foundation model for physical AI security in 2027.
Europe rarely produces a cybersecurity company at this scale. This one got there by selling to chipmakers rather than to enterprises.
Bucharest's Veridion raises €17.5 million for a business map that updates itself
Veridion, formerly Soleadify, raised €17.5 million in a Series A led by Hoxton Ventures with Underline Ventures, OTB Ventures, Gapminder, Day One Capital, and Launchub returning. It maintains a continuously updated graph of roughly 642 million companies, built from websites, public registries, regulatory filings, and product catalogues.
Veridion is selling refresh rate, not coverage. Incumbent providers update company records quarterly or annually, which is close to useless for supply chain screening under rules that expect a buyer to know who its suppliers are this month.
Copenhagen's Complir raises $11 million to do product compliance paperwork
Complir raised $11 million in a seed led by General Catalyst, nine months after a $2 million pre-seed. Founded in 2024, it maps product data against applicable rules at SKU level and regenerates documentation when a regulation changes.
Flying Tiger Copenhagen, Matas, and COOP Trading already use it. Complir claims customers save about 15 hours and $700 per product iteration, a modest number until you multiply it across a portfolio of thousands of items in several markets.
(Retail Technology Innovation Hub)
Products & Technology
Germany lets a truck with no cab drive itself between Lidl sites
Einride and Lidl put a cab-less SAE Level 4 truck into daily operation on a German public road, with no driver and no safety operator on board. The Federal Motor Transport Authority issued the permit, the first of its kind in Germany.
The route runs from a Lidl warehouse and distribution centre to a store, and both companies want to extend it into a multi-stop milkrun. Roozbeh Charli is blunt about why Germany matters: clearing the KBA is the reference other European regulators will reach for.
Driver shortage is the stated problem and the honest one. This is a narrow operating domain rather than open-road autonomy, which is why it got approved.
(Tech.eu)
Endra ships an agentic tool for electrical design and buys a Swiss physics team
Endra launched Power Studio, which folds electrical design, calculation, simulation, and documentation into one system where engineers delegate tasks to agents and sign off at each stage. It claims the electrical design of a 500,000 square foot commercial building in under a day, against roughly two months conventionally.
It also bought Planlabs, a five-person Swiss company founded in 2024 that automates building system design with geometry and physics engines, to extend the same approach into mechanical engineering.
Niklas Lindgren frames the product around Playbooks, which encode a firm's own standards. A building services engineer carries legal liability for the drawings they sign, so the question of who the judgement belongs to is not decorative.
(Tech.eu)
Climate & Energy
Isometric brings its Series A to €43 million by certifying more than carbon
Isometric added roughly €8.6 million to a Series A that now totals €43 million, taking the London company to €64 million raised since 2022. New investors include Intercontinental Exchange, owner of the New York Stock Exchange, and Acario Innovation, the venture arm of Tokyo Gas.
Isometric started as a carbon removal registry and has been contracted to certify over 16 million tonnes, more than any other certifier. It has since moved into industrial emissions, energy, fuels, and materials, publishing each certificate with its underlying data attached.
Eamon Jubbawy puts it as provable output being financeable output. What matters is who agreed: an exchange operator betting that the durable business is the verification layer rather than the credits.
Research & Deep Tech
Ninety-two antiprotons went for a 7.5 kilometre drive and all of them came back
The BASE collaboration drove trapped antiprotons out of CERN's Antimatter Factory, around the Meyrin site, and back. Its transportable Penning trap carried 92 antiprotons over 7.5 kilometres in 24 minutes at up to 40.8 km/h, with no particle loss and no measurable degradation of the trap vacuum. Nature published the result on 16 September.
The Antimatter Factory's own magnetic noise is now the limit on how precisely antiproton properties can be measured. Moving the particles to a quiet offline laboratory should improve matter-antimatter symmetry tests by at least a factor of 100.
The team measured residual gas pressure below 2.2 × 10⁻¹⁸ mbar over a month of storage, the lowest reported for an open cryogenic Penning trap. Next is a controlled transfer to receiver traps, including one at Heinrich Heine University in Düsseldorf, and then long-distance road transport.
(Nature)
TU Wien and PTB excite the thorium nucleus with a continuous laser
A team from TU Wien and the Physikalisch-Technische Bundesanstalt in Braunschweig excited the low-energy nuclear transition in thorium-229 with a continuous-wave solid-state laser at sub-nanowatt power, and read the resonance in absorption rather than fluorescence. Earlier work needed pulsed lasers, where most photons never hit the narrow transition.
Absorption detection removes the slow fluorescence decay from the measurement, which is what a working clock needs to read out quickly.
They also found a thorium site in the calcium fluoride crystal with an electric field gradient below 0.1 V/Ų, against roughly 100 V/Ų seen before. A site that symmetric means the nuclear resonance barely cares about the lattice around it, which is the difference between a laboratory demonstration and a clock somebody could build.
(Nature)
One to Watch
iGii has ten years of chemistry and one year to prove a market
iGii, based in Stirling, raised £22.7 million: an £11.7 million Series B led by the Scottish National Investment Bank with PXN Ventures and Archangels, plus £11 million from Scottish Enterprise. Founded in 2016, it grows a three-dimensional porous carbon nanomaterial called Gii at room temperature rather than mining or compounding it.
Jean-Christophe Granier calls the raise the move from R&D into execution, with headcount going from 55 to 70 by the end of the year. The named applications so far are multi-analyte sensing, microheaters, and flexible printed battery electrodes: three industries, three qualification cycles.
Platform materials companies usually fail on exactly that spread. Watch which one iGii commits to first, and whether a named manufacturer signs before the Scottish Enterprise money runs out.