European tech funding saw significant activity this week with over 70 deals totaling more than €3.9 billion. Mistral led the market by securing €3 billion in a Series D round to advance sovereign AI development. Meanwhile, The Exploration Company raised $450 million in Series C funding to expand its reusable space transport operations.
M&A activity included Bending Spoons reaching an agreement to acquire Miro for €1.7 billion. Additionally, Greenly purchased the Swedish startup Normative for SEK 700 million, while Lexroom completed its first acquisitions by buying Query Juriste and Praven Intelekt. Positive finalized a €106 million refinancing deal to support future acquisitions.
Investment firms also reported major milestones. Claret Capital Partners closed a growth debt fund at €575 million, and Molten Ventures reached £175 million in the first close of its growth fund. Clean Growth Fund II secured £81.5 million toward its £150 million target, and the EIF committed €30 million to a Nordic Foodtech VC.
Early-stage funding remains a point of concern, as Antler research indicates that the growth of unicorns in Europe is concealing a crisis in initial investment stages. Concurrently, European tech leaders are advocating for 25 percent of the EU budget to be allocated toward securing the region's energy and digital infrastructure.
