Weekly RoundUp #09 — Exits Unlocked
Spring might be coming for European tech. Exits are back on the menu.
📅 March 02 – 06, 2026 | Read time: 5 mins
👋 The Week in Review
With spring on the horizon, we are seeing the return of burgeoning nature (and for some less fortunate, like me, allergies). For European tech, it might also mean something else: the return of exits.
This week’s roundup covers a wide array of activity: incoming IPOs, acquisitions across various sectors, and continued growth with European startups securing mega-rounds and pursuing renewed ambitions in areas like quantum, robotics, AI, Health, and Climate.
Time to dive into the data.
📰 News of the Week
French quantum leader Pasqal targets dual listing via $2B SPAC merger
The Paris-based startup has entered into a definitive agreement to merge with the Nasdaq-listed Bleichroeder Acquisition Corp. II, a move that will include a subsequent dual listing on Euronext Paris. This structure aims to secure up to €340 million in total financing to accelerate the development of its 250-qubit “Vela” machine and maintain its standing as a French deep-tech champion while accessing the deeper capital markets of the United States.
Neura Robotics reportedly in talks to raise €1B from Tether
The German cognitive robotics firm is preparing a massive funding round that could value the company at approximately €4 billion. Tether, the issuer of the USDT stablecoin, is expected to participate in the round to help Neura Robotics transition from research to the large-scale industrialization of its 4NE-1 humanoid robots. The capital would fund an ambitious roadmap including manufacturing hubs in India and China to handle a reported order book of nearly $1 billion.
UK government pledges £40m to launch Fundamental AI Research Laboratory
AI Minister Kanishka Narayan has announced the creation of a new sovereign research hub dedicated to solving fundamental technical flaws such as model hallucinations and unreliable reasoning. The lab will receive up to £40 million in funding over six years along with significant access to national computing resources. This “moonshot” initiative is designed to ensure that the UK remains a producer of frontier AI breakthroughs rather than just a consumer of foreign technologies.
French medtech Gleamer acquired by US giant RadNet for €230M
The Paris-based radiology AI specialist has been acquired by the American imaging leader in an all-cash deal to be integrated into its DeepHealth subsidiary. Gleamer will serve as RadNet’s primary European hub and “French outpost,” allowing its automated fracture detection and diagnostic tools to be deployed across RadNet’s extensive network of over 400 imaging centers in the United States.
Exits are back in Europe
The European tech landscape is witnessing a significant resurgence in M&A activity as established players and well-capitalized startups move to consolidate their market positions.
🇩🇪 Asahi Kasei acquires AiCuris Anti-infective Cures for approximately $920M.
🇸🇪 Swedish battery startup Holyvolt snaps up US materials pioneer Wildcat for $73M.
🇦🇹 Austrian Post acquires 70% of euShipments.com to expand e-commerce logistics across Europe for €55M.
🇨🇭 Swiss Rockets acquires Complete Genomics for approximately $50M.
🇩🇪 German logistics tech firm cargo.one adds Cargofive in a €17M-backed (~$18.5M) multimodal expansion.
🇸🇪 IFS completes its acquisition of Softeon to launch a new AI-driven supply chain platform.
🇫🇷 Expandi acquires 100% of Kompass to create a European B2B data and marketing giant.
🇫🇮 Oura acquires Doublepoint, a startup that specializes in gesture recognition technology.
🇫🇷 Infinite Orbits signs two acquisitions in Luxembourg and the UK to scale its satellite life extension services.
🇨🇿 Flowpay acquires Tapline to expand its SME financing platform across Europe.
🇮🇹 Onetag acquires Aryel to build a new programmatic ad exchange
🇬🇧 BrewDog is bought by a US cannabis and drinks firm for £33M, costing nearly 500 jobs.
🇪🇺 Deals of the Week
🔍 The Deep Dive
BaCta (BioTech) | Seed | €7M
The Deal: Paris-based biotech startup using AI-powered bioproduction platform to produce high-value ingredients through programmable microbial factories secured €7M.
The Investors: Led by LocalGlobal and Daphni, with participation from OVNI Capital and BA
The Analysis: Conventional industrial synthesis is frequently restricted by its reliance on petrochemicals and carbon-heavy thermal processes. Bacta overcomes these limitations by deploying engineered microbes as programmable production units that generate complex chemical compounds through controlled fermentation. By utilizing a proprietary synthetic biology platform to optimize metabolic pathways, the company produces high-purity ingredients for the fragrance, nutrition, and specialty chemical sectors at a significantly reduced ecological cost. As the global synthetic biology sector is projected to grow to 38.2 billion dollars by 2026, Bacta is establishing the foundational technology required to transition global manufacturing toward a circular, bio-based economy.
What’s Next: Scale, validate, and commercialize astaxanthin production via a French industrial partnership, while expanding the baCtaForge AI-driven strain engineering platform.
Amatera (AgTech) | Seed | €6M
The Deal: Paris-based climate-resilient crop varieties developer by combining plant cell biology, robotics, and artificial intelligence to accelerate breeding cycles raised €6M.
The Investors: Led by Talis Capital, with participation from Demea Sustainable Investment, Oyster Bay Venture Capital, PINC, Mudcake, Exceptional Ventures.
The Analysis: Agricultural systems are currently struggling to adapt to a rapidly warming planet because the natural breeding cycles for perennial crops like coffee and grapes can exceed twenty years. Amatera bridges this “adaptation lag” by merging robotics with plant cell biology to identify and scale natural genetic variations without the use of GMO techniques. Their platform effectively compresses decades of evolution into just a few years, allowing for the creation of varieties like “Robustica,” which pairs the hardiness of Robusta with the premium flavor of Arabica. This technological leap enables the mass production of crops that are naturally resistant to extreme heat and emerging pathogens. By targeting a global agricultural biotechnology market expected to surpass $65 billion in 2026, Amatera provides the necessary speed to ensure long-term food security in a volatile climate.
What’s Next: Expand the automated genetics platform into annual crops and scale the scientific and engineering teams.
⚡ Deal Flow
🇪🇸 PLD Space (SpaceTech) — €180M Series C: Elche-based international space transportation company developing the reusable Miura-5 launch vehicle for small satellite launch services to enable European space autonomy.
🇳🇱 RIFT (ClimateTech) — €114M Series B: Eindhoven-based developer of an iron fuel technology platform that uses iron as a circular energy carrier to generate high-temperature industrial heat without direct CO2 emissions.
🇬🇧 Oxa (Mobility) — €88.5M Series D: Oxford-based global leader in autonomous vehicle software for industrial applications including ports, airports, and logistics facilities.
🇬🇧 Uforce (DefenseTech) — €43M Seed: London-based defense tech company developing autonomous platforms and battlefield management software refined through combat operations in Ukraine.
🇳🇱 Silverflow (FinTech) — €34.4M Series B: Amsterdam-based cloud-native card payment processing platform providing a single API connection directly to card networks for real-time insights.
🇳🇴 Photoncycle (CleanTech) — €15M Series A: Oslo-based developer of hydrogen-based seasonal energy storage systems enabling households to store surplus summer solar power for winter heating.
🇮🇹 ISAAC antisismica (ConstructionTech) — €14M: Milan-based developer of innovative seismic isolation and structural reinforcement systems that protect buildings and infrastructure from earthquake damage.
🇨🇭 Xsensio (DeepTech) — €6M Series A: Lausanne-based company developing the Lab-on-Skin wearable biosensing platform to deliver continuous, real-time biochemical information for preventive healthcare.
🇩🇰 Tangled (DevTools) — €3.8M Seed: Copenhagen-based federated code collaboration platform building a decentralized alternative to traditional code forges on the AT Protocol.
🇬🇧 ROXFIT (Sport Tech) — €2.2M Seed: Yorkshire-based AI-powered training platform for HYROX fitness racing providing personalized training plans and performance analytics.
🇬🇧 Vivox AI (RegTech) — €1.5M Seed: London-based technology company building regulator-ready, atomic AI agents for AML, KYB/KYC, and financial crime compliance.
🇧🇪 Vectrix (Logistics) — €1.1M Seed: Antwerp-based AI-powered order entry platform for the logistics sector that automates transport order processing to improve data accuracy.
🇬🇧 DealFlowAgent (FinTech) — €650k Pre-Seed: London-based AI-native investment bank specializing in M&A advisory for business owners using a proprietary conversational AI matchmaking platform.
👉 See the full database of 60+ rounds from this week: here.
💸 New Dry Powder
Spotlight: GHARAGE Ventures — €40M
Originally the innovation arm of travel retail giant Gebr. Heinemann, GHARAGE Ventures has transitioned into an independent venture capital firm with the launch of its €40M Fund I. This new vehicle is dedicated to digitizing the “structurally under-digitalized” travel and retail ecosystem, focusing on automation, AI-driven workflows, and logistics infrastructure. The fund targets roughly 30 startups globally from Seed to Series A. GHARAGE brings a specialized track record from its previous incarnation as a venture builder, having successfully launched and exited brands like Nullpunkt (sold to Daluma) and the recommerce platform ReturnKey, while also externalizing the digital travel platform Duffle. The new fund has already made several investments, including FileAI, Bounce, and Gumshoe AI. What differentiates GHARAGE is its strategic “Global Travel Platform” which provides founders with unprecedented access to Gebr. Heinemann’s international network of over 500 airport shops and cruise lines to validate and scale technologies in real-world environments.
Other Fund Launches:
🇩🇪 Join Capital (€50M): Record-breaking commitment from the EIF toward a €235M target for this defense-focused vehicle to invest in European dual-use technologies and industrial tech.
🇬🇧 UK Space Agency (£30M): Government funding initiative aimed at UK-based firms developing next-generation satellite communication networks and space infrastructure.
🇱🇹 FIRSTPICK (€25M): New fund dedicated to pre-seed and seed-stage startups across the Baltic region, supported by the European Investment Fund.
🇳🇱 LUMO Labs (€6M): Spanish state-owned SETT invested in this €100M impact fund focused on emerging technologies like AI and blockchain for sustainable development goals.
🇩🇪 TUM Robo.Innovate (€3.5M): Robotics incubator at the Technical University of Munich secured fresh backing to support deeptech startups following a successful €52M alumni raise.
🇺🇦 Angel One ($3M): Venture capital fund launched to provide critical seed-stage investment and mentorship to Ukrainian founders during the ongoing conflict.
🇬🇧 Wilbe (N/A): Science-focused venture firm opening a specialized laboratory in London’s White City to provide infrastructure and “lab-as-a-service” for science startups.
🇮🇹 Techstars (N/A): The global accelerator program has officially ended its presence in Turin, following previous decisions to halt operations in Berlin, Paris, Stockholm and Oslo.
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See you next week for more Tech & VC insights.
Best,
Agathe