European Tech RoundUp Week #15 — Quantum Leaps & Power Limits
While US hyperscalers hit the ceiling of the European power grid, the continent is pushing quantum to public markets and raising record-breaking bio funds.
📅 April 06 – 10, 2026 | Read time: 5 mins
👋 The Week in Review
This week feels a bit split.
On one side, infrastructure constraints are becoming harder to ignore. Between energy bottlenecks and rising costs, scaling compute in Europe is starting to look more complex than expected.
On the other, momentum hasn’t slowed. Quantum is heading to public markets, and biotech is pulling in record-sized funds, showing that conviction is still very much there for the right assets.
Also, the two first episode of my defense tech mini-series are officially live. If you want a front-row seat to the French startups rewiring modern warfare, read On the Edge’s last episode right here. Last episode dropping this week.
Let’s dive into the data.
📰 News of the Week
Swiss-based Terra Quantum targets public markets in a $3.25B SPAC deal
The quantum computing company is set to list via a blank-check merger to secure the massive capital required to scale its hybrid quantum-classical algorithms and infrastructure.
French aviation startup Aura Aero secures €340M to scale electric aircraft production
The Toulouse-based manufacturer raised a major round to fund the industrialization of its hybrid-electric regional planes and build out dual manufacturing hubs in France and Florida.
Spain’s Sateliot seeks a €100M raise to accelerate its 5G satellite IoT network
The Barcelona-based spacetech is raising fresh capital to rapidly deploy its low-Earth orbit constellation and provide seamless, global 5G connectivity for internet-of-things devices.
OpenAI halts its flagship UK data centre project over soaring energy costs
The AI giant has paused its ambitious “Stargate” compute facility in the UK, citing high local electricity prices and grid bottlenecks as critical roadblocks to its European infrastructure rollout.
Vinted surpasses €1B in revenue as rapid expansion impacts its profit margins
The Lithuanian second-hand marketplace hit a major top-line milestone, though aggressive pushes into new markets and heavy logistics investments have temporarily squeezed its bottom line.
Doctolib crosses €400M in revenue and welcomes new investors to its cap table
The French healthtech continues its steady growth trajectory, breaking the €400 million revenue mark while reshuffling its investor base via a secondary transaction to sustain its European dominance.
🇪🇺 Deals of the Week
🔍 The Deep Dive
Qoro Quantum (Computing) | Pre-Seed | €645k
The Deal: London-based startup building software infrastructure for distributed quantum computing that connects classical systems with quantum processors secured €645k.
The Investors: Led by Ada Ventures, backed by Superangels Venture Fund & Polsky Center for Entrepreneurship and Innovation
The Analysis: The commercial adoption of quantum computing is currently bottlenecked by the immense software complexity required to integrate emerging quantum processors with classical systems like CPUs and GPUs. Qoro Quantum tackles this integration barrier by building a unified orchestration layer that acts as the nervous system for heterogeneous computing environments. Their middleware platform abstracts the underlying hardware constraints, effectively reducing approximately 150,000 lines of custom integration code to just 20, which allows developers to build applications once and deploy them anywhere. Operating on a dual model that includes a self-serve developer cloud and an enterprise tier for high value workloads, the London based deeptech positions itself as an essential broker layer. By enabling diverse computing clusters to function as a single logical machine, the startup captures vital territory within the rapidly expanding quantum software market required to realize hybrid workflows at scale.
What’s Next: Expand the engineering team and accelerate the rollout of the hybrid software layer.
⚡ Deal Flow
🇬🇧 Narwhal Labs (AI) — €23M Seed: Bristol-based developer of an enterprise-grade autonomous communications platform that manages customer interactions 24/7 using agentic AI.
🇮🇹 TeiaCare (HealthTech) — €7M Additional Round: Milan-based AI-powered care monitoring platform using optical sensors to enhance resident safety and decision-making in healthcare facilities.
🇩🇪 BLOCKS (Cloud) — €5.2M Pre-Seed: Berlin-based AI agent platform that autonomously manages and significantly reduces cloud infrastructure costs for startups.
🇩🇪 Conxai (ConstructionTech) — €5M Seed: Munich-based no-code agentic AI platform automating fragmented workflows and risk analysis across construction projects.
🇮🇹 CareGlance (DeepTech) — €3.5M Seed: Milan-based developer of ultra-high-precision 3D infrared sensors for Industry 4.0 applications like laser welding and semiconductor inspection.
🇫🇷 Plume (SpaceTech) — €3.3M Seed: Paris-based AI-powered geospatial platform centralizing datasets to accelerate site selection and development of renewable energy projects.
🇮🇪 Vertigenius (MedTech) — €2.5M Series A: Dublin-based developer of wearable sensors and a companion app for the remote monitoring and treatment of vertigo patients.
🇩🇪 PENEMUE (Cybersecurity) — €1.7M Seed: Freiburg-based AI-powered platform utilizing advanced moderation technology to combat online hate, digital violence, and disinformation.
🇪🇸 Golden Owl (DeepTech) — €1.4M Seed: Alicante-based developer of advanced OSINT and multi-agent AI solutions for threat detection, defense, and business intelligence.
🇫🇷 Hairdex (HealthTech) — €1M Pre-Seed: Marseille-based platform connecting patients with specialized doctors and pharmacies for personalized anti-hair loss treatments.
👉 See the full database of 60+ rounds from this week: here.
💸 New Dry Powder
Spotlight: 🇫🇷Jeito Capital — €1B
Paris-based Jeito Capital has raised a record-breaking €1B for Jeito II, becoming the largest independent European biopharma fund. This new fund explicitly targets a structural gap in European biopharma: mid-to-late clinical stages (Phases 2/3), aiming to provide the heavy, long-term capital needed to prevent companies from migrating abroad. Writing highly concentrated tickets up to €150M per company across 15 to 20 businesses, the fund has already deployed capital into treatments for obesity, cancer, and neurology, including leading a $197M Series A in Alveus Therapeutics. The firm’s precedent success is exceptional; its inaugural 2021 fund recently saw nearly $5B in exits within a single month (EyeBio to Merck for $3B and HI-Bio to Biogen for $1.8B). Founded by Dr. Rafaèle Tordjman, Jeito uniquely rejects the typical “spray-and-pray” early-stage biotech model, operating instead with a highly concentrated, Europe-first focus led by a team of scientists and regulatory experts who provide hands-on clinical and market access expertise.
Other Fund Launches:
🇵🇹 Bondstone Ventures (€50M): Deeptech-focused fund dedicated to backing early-stage technological innovation and ambitious startups emerging from the Portuguese ecosystem.
🇨🇭Herbert Ventures (€32.5M): Early-stage venture vehicle established to support high-growth tech startups and visionary founders across the ecosystem.
🇨🇿 JIC (€16.3M): Early-stage venture fund designed to back deep tech founders from their very earliest stages across the Central and Eastern European region.
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See you next week for more Tech & VC insights.
Best,
Agathe