Weekly RoundUp #06 — Full Stack Alchemy
From fabs to funding rounds, Europe delivered at every layer this week
📅 February 09 – 13, 2026 | Read time: 5 mins
👋 The Week in Review
What A WEEK!
Large-scale compute investments, advanced chip manufacturing programs, and fast-scaling AI platforms dominated the headlines. Growth valuations are stretching upward again, while early-stage formation continues at pace: a rare synchronisation across maturity levels.
Let’s dive into the data.
📰 News of the Week
Mistral AI pledges €1.2bn for a Swedish data centre while calling for a unified European AI strategy
By committing €1.2bn to a new high-performance compute hub in Sweden, Mistral CEO Arthur Mensch is positioning the French champion as the anchor for a more integrated European cloud ecosystem designed to challenge the dominance of American hyperscalers.
The EU launches a €2.5bn NanoIC pilot line to reclaim global leadership in next-gen chipmaking
A cornerstone of the EU Chips Act, this €2.5bn initiative establishes advanced prototyping facilities across the bloc to help European designers bridge the “valley of death” between laboratory research and high-volume semiconductor manufacturing.
Fractile commits £100M to UK chip manufacturing as the government urges startups to take “bold risks”
London-based AI hardware startup Fractile is investing £100M into its novel architecture for transformer inference, aligning with the UK AI Minister’s new mandate for the country to foster “uncomfortably ambitious” deeptech ventures.
Nscale secures a $1.4bn GPU-backed loan to aggressively scale European AI infrastructure
By using its massive inventory of Nvidia H100s as collateral for a $1.4bn “delayed draw” term loan, Nscale is pioneering a new model of asset-backed financing to fund the rapid deployment of sovereign AI clusters across the continent.
Germany’s Stark Defence reaches a €1B valuation as the “Sovereign Shield” of European autonomous tech
Munich-based Stark Defence has joined the unicorn ranks, reflecting a massive surge in investor appetite for AI-driven tactical systems that can operate independently of GPS or foreign-controlled satellite networks.
UK photonic chip startup Olix hits a €1B valuation to solve the AI energy crisis with light-based compute
Led by a 25-year-old founder, Olix has emerged from stealth with $220M in capital to commercialize its photonic inference processors, which aim to reduce the power consumption of large language models by up to 90%.
Legora eyes a $4B valuation to become the fastest-scaling “AI Agent” unicorn in YC history
Following explosive enterprise adoption of its autonomous workflow tools, Legora is reportedly in talks to quadruple its valuation just months after its last round, signaling a market shift toward agents that execute tasks rather than just generating text.
Station F unveils a “Premium” AI program to accelerate France’s next generation of global champions
The world’s largest startup campus is launching a selective, resource-heavy residency that provides elite AI founders with subsidized compute power and direct pipelines to corporate venture arms, further cementing Paris as Europe’s AI capital.
🇪🇺 Deals of the Week
🔍 The Deep Dive
Mozart AI (Creative Tech) | Seed | €5M
The Deal: London-based AI-native digital audio workstation that combines traditional music production with AI-assisted and prompt-driven workflows raised €5M.
The Investors: Led by Balderton Capital, with participation from Mercuri, EWOR, Kevin Hartz, Charles Ferguson, and Emery Wells
The Analysis: The music production industry faces a “productivity bottleneck,” where the process of composition and arrangement remains labor-intensive and heavily dependent on manual technical expertise. Mozart AI addresses this through its “Composer” and “MelodyFlow” tools, which utilize neural networks to generate high-quality MIDI and audio streams optimized for immediate professional integration. By offering a toolkit that allows for real-time stylistic manipulation and complex harmony generation, the platform removes the need for deep music theory knowledge to achieve commercial-grade results. Positioning itself strategically within the AI music market, Mozart AI’s technology serves as an efficiency engine for creators tasked with meeting the massive demand for original soundtracks in modern digital media
What’s Next: Hiring, expand company’s core technology, prepare for a full public release
Overmind (Cybersecurity) | Seed | €2.3M
The Deal: London-based AI agent security platform founded by former MI5 officer to protect autonomous systems secured €2.3M.
The Investors: Led by Osney Capital, backed by 14Peaks, Portfolio Ventures, Antler, Endurance Ventures
The Analysis: Enterprise adoption of autonomous AI agents faces a significant “governance gap,” as traditional cybersecurity tools are ill-equipped to manage the non-deterministic behaviors and high-privilege access of agents operating at machine speed. Overmind addresses this through its “supervision layer” platform, which utilizes pattern-of-life analysis to monitor agent interactions in real-time and automatically intervene if behavior drifts from established safety boundaries. By functioning as a developer-centric infrastructure that leverages reinforcement learning to iteratively optimize model performance based on real-world production data, the company enables secure scaling in regulated sectors such as fintech, healthcare, and legal services. Positioning itself at the core of the Agentic AI market, Overmind’s technology aims to mitigate the inadequate risk controls that Gartner predicts will cause 40% of agentic AI projects to be cancelled by 2027.
What’s Next: Expand technical team, product development, scale GTM in regulated industries
⚡ Deal Flow
🇫🇷 Naboo (Event Tech) — €58.7M Series B: Paris-based all-in-one platform for booking, managing, and running corporate events across the MICE segment with AI-powered procurement capabilities.
🇩🇪 Metiundo (CleanTech) — €40M Series B: Berlin-based platform for digitizing energy and water meter data to enable the energy transition in the building sector.
🇩🇪 Hades Mining (DeepTech) — €15M Series A: Munich-based developer of next-generation drilling and subsurface systems to unlock geothermal energy and critical minerals.
🇨🇭 Algorized (Robotics) — €12.1M Series A: Swiss Edge-AI company building a predictive safety engine for physical AI systems to enable real-time human-robot collaboration.
🇬🇧 Tangible (FinTech) — €4M Seed: London-based platform helping hardtech companies access and manage debt financing through AI-powered data standardization and lender coordination.
🇫🇷 Getinside (E-commerce) — €3.2M Seed: Toulouse-based retail media platform designed to make retail media advertising accessible to all e-commerce merchants.
🇬🇧 Occam (DefenseTech) — €3.1M Pre-Seed: London-based developer of software-only, GPS-free autonomous drone systems for frontline military operations in Ukraine.
🇸🇪 Loovi (HealthTech) — €1M Pre-Seed: Stockholm-based preventive health and longevity platform for personalized wellness optimization.
🇧🇪 Move to Happiness (HR Tech) — €1M: Antwerp-based AI-driven human performance platform linking employee wellbeing and recovery to organizational productivity.
🇱🇻 Deep Space Energy (SpaceTech) — €930k Pre-Seed: Riga-based developer of radioisotope power generation systems for sustainable lunar missions and space exploration.
👉 See the full database of 70+ rounds from this week: here.
💸 New Dry Powder
Spotlight: Elaia 🇫🇷 — €120M
Paris-based venture firm Elaia has announced the €120M first close of its fifth digital flagship vehicle, Digital Venture Fund V (DV5), with ambitions to reach a final target of €300M–€350M. This 2026 vintage fund maintains a sharp focus on European B2B technology and deeptech, targeting IP-driven startups in sectors like AI, cybersecurity, and techbio from pre-seed to Series B. Writing checks between €1M and €15M, the fund has already hit the ground running with initial investments in Mimic Robotics and Linkup. Elaia’s reputation is anchored by a stellar track record of scaling foundational tech, with a portfolio featuring unicorns and leaders like Mirakl, Shift Technology, iBanFirst, and HarfangLab. What distinguishes the firm is its “full-stack” and operator-led approach, leveraging a team of engineers and former founders who provide rigorous technical vetting and hands-on operational playbooks; an edge further bolstered by its strategic partnership with Lazard and backing from the France 2030 initiative.
Other Fund Launches:
🇪🇸 Seaya (€1B): Large-scale growth fund backed by the EIF to support European and Latin American tech leaders in climate, health, and sustainable finance.
🇱🇺 Baltic Innovation Fund III (€225M): A fund-of-funds launched by the EIF and the governments of Estonia, Latvia, and Lithuania to boost equity investments in Baltic SMEs and mid-caps.
🇬🇧 ET Capital (£270K): Niche pre-seed fund focused on increasing diversity in deeptech by challenging traditional “winner-picking” investment models.
🇫🇷 Cortex House (N/A): A 6,000 m² hub opening in Paris dedicated to the artificial intelligence ecosystem, backed by the City of Paris to foster innovation and collaboration.
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See you next week for more Tech & VC insights.
Best,
Agathe