This week, the European tech landscape was characterized by intense financial activity, with over 70 funding deals totaling over €2 billion. Several notable mergers and acquisitions were also reported.

Notable Funding Rounds

  • Wayve: The British company raised $1.2 billion at an $8.6 billion valuation to scale its AI-powered autonomous driving technology.
  • Axelera AI: The Dutch AI inference chipmaker secured $250 million.
  • Allica Bank: The British bank is preparing to become a fintech unicorn following a $155 million funding round.

Mergers and Acquisitions

  • Radiant and Ori: The two British companies merged to deliver sovereign cloud solutions for AI applications.
  • A former unicorn acquired Bristol tech firm Squarebird.
  • Canva acquired the startups Cavalry and MangoAI.
  • Quantum Surgical acquired a Johnson & Johnson subsidiary.

Other News

  • The Tech.eu Summit London 2026 announced new speakers.
  • Finland-based quantum computing startup IQM will go public in the US via SPAC.
  • OpenAI will establish London as its largest research hub outside the US.
  • A Proxima Fusion partnership gives Europe its most credible path to commercial fusion.

For those evaluating on-premise deployments, there are trade-offs that AI-RADAR analyzes in detail in the /llm-onpremise section.