Nscale raises $2B, Legora makes first acquisition

Funding and Acquisitions Dominate the European Tech Scene

The past week was characterized by a wave of investments and mergers in the European technology sector, with over 85 funding deals worth over €4 billion and more than 5 exits, mergers, and acquisitions.

Nvidia-backed Nscale raised a significant $2 billion and appointed Sheryl Sandberg and Nick Clegg to its board. Yann LeCun's Paris-based startup, Advanced Machine Intelligence (AMI), exceeded $1 billion in funding.

Legaltech company Legora secured $550 million in a Series D round, with a valuation of $5.55 billion, to accelerate its expansion in the United States. Simultaneously, Legora made its first acquisition, expanding its presence in North America.

Energy Aspects will acquire Paris-based Kayrros to integrate satellite and geospatial analytics capabilities. ŌURA acquired Doublepoint, a Helsinki-based startup specializing in gesture technology, to expand its wearable AI capabilities. Expense management startup Ramp acquired a European competitor to challenge Brex.

Deep Science Ventures launched a new doctoral program to turn science into startups. Elaia closed a €134 million DTS3 fund to support the next generation of European startups. Samaipata launched Fund III with €110 million to support European AI-native startups.

A recurring theme is the interest of European companies in running AI technology locally, as highlighted by chipmaker Axelera AI, which aims to benefit from this trend.

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