As always, we’re keeping tabs on what actually matters across 🇪🇺 European tech. If something broke this week and it’s worth your time, it’s probably below.
Scroll on for the deals, roles, reads, and events you’ll want on your radar.
Quick Takeaways
Wise may list in the US after a strong year: £1.2 B revenue, profit up 17%.
Europe doubles down on deep tech – €90 M Nokia-led drone project and fresh quantum funding/roadmaps.
Apple paper says LLM “reasoning” is fragile, sparking debate across tech Twitter/X.
Mega rounds keep rolling – Scalable Capital bags €155 M; Skyral, Aerones and others raise solid Series A/B money.
NATO Innovation Fund wobbles as a third investor walks away, casting doubt on its cohesion.
Nokia is heading a 43-member European consortium to build drone systems for infrastructure monitoring. The project includes Nvidia, Leonardo, and others, with backing from the EU Chips initiative.
a16z rebuilds EU scout network Andreessen Horowitz added nine new EU scouts after closing its London office. Scouts write $10–25K checks, topped up by the firm.
Europe steps up quantum ambitions The EU is accelerating investment in quantum computing, aiming to rival US and Chinese programs in hardware, software, and talent.
Spain’s tech ecosystem grows 22% A new report shows Spain's tech sector expanded 22% in the past year, driven by startup formation and rising venture activity.
😬 X goes mad over Apple’s report on actual reasoning behing reasoning models
Apple just dropped a paper on why reasoning models that look smart may not actually be smart.
LLMs perform well… until complexity tips them over
Their reasoning collapses on puzzles beyond a certain threshold
The duck might not be a duck. See signull‘s post here.
💶 Fundraising and M&A News
Main Fundraising Picks
🇬🇧 Skyral raises $20M Series A The UK-based startup will use the funds to scale its modelling and simulation platform for enterprise and government clients.
🇩🇪 Scalable Capital raises staggering €155M Led by Sofina and Noteus Partners. Previous investors Balderton Capital, Tencent, and HV Capital also participated.
🇱🇻 Aerones raises $62M to scale wind turbine robotics Latvian startup Aerones builds robots for wind turbine maintenance. The round will support global rollout and tech development.
🇬🇧 Treefera raises €26.2M to boost supply chain transparency The London-based company helps track sustainability data across agriculture and forestry supply chains.
🇫🇷 Moments Lab raises €21M for agentic AI video search Paris-based Moments Lab builds AI tools to help users search and discover video content using natural language prompts.
🇮🇪 NomuPay raises $40M at a $290M valuation to expand in Asia Irish payments startup NomuPay partners with SBPS to grow its unified platform across fast-growing Asian markets.
🇵🇱 PFR Ventures launches €150M fund-of-funds The Polish state investor will deploy capital into European deep tech and dual-use fund managers via its new PFR Deep Tech initiative.
🇱🇹 Iron Wolf Capital raises €100M The Vilnius-based VC will back 25 early-stage startups across the Baltics with its second fund.
🇩🇰 Nordic FoodTech VC closes €40M Based in Copenhagen, the firm targets startups rethinking the food system in the Nordics and Baltics.
🇧🇪 Scale Fund raises €30M The Brussels VC is raising a €30M fund (raised €12M so far) to back Belgian and Dutch B2B software startups from seed to Series A.
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State of B2B monetization, 2025 Kyle Poyar breaks down why seat-based pricing is fading, hybrid models are rising, and outcome-based pricing is still out of reach for most
🇦🇱 European Founders Week (informal setting) — July 5 to 13. See more.
👋 That’s a wrap for this week. If you’ve got a round, role, or resource others should see, reply to this or ping us at hello@patrons.vc or send me a message on LinkedIn.
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