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8 September 2025: One year after the Draghi report, Switzerland's own open-source AI model, EIC (+Scaling Club) stats, and more

Author

Robin Wauters
September 08, 2025

Welcome to the bi-weekly “Inside European Deep Tech” newsletter, compiled by Robin Wauters, founder of boutique communications agency Profoundo, board+team member of the European Startup Network, and formerly founding editor and CEO of Tech.eu.

There are now more than 75,000 subscribers to this newsletter; I invite each and every one of you to provide feedback so I can upgrade it over time. 💪🏻

Periodic reminder that I'm always up for a chat about how to upscale your communication and media strategy, so do hit me up if you want to have a conversation.

Also, RIP TNW, it helped shape my career and me as a person.

Before we get started: please have your say on the future of EU Inc!

During the next few weeks, you can help turn Europe into a place where ambitious founders actually want to stay and build tomorrow’s leading companies.

How? By sharing your opinions and (horror) stories with the European Commission before the 30th of September. And the EU Inc team wants to help you do that as quickly and efficiently as possible with a step-by-step guide to answering their survey!

The questionnaire is lengthy and can be challenging to complete, but it’s a key part of the crucial public consultation - and that’s why the EU Inc team has prepared step-by-step guidance to help you respond effectively. Please share these pointers freely and widely.

Now, let’s get to it for newsletter issue #16!

Must-reads

Insights: data, research, interviews and profiles

Opinions worth reading

Selected news items

  • ASML, a crucial supplier of advanced chipmaking equipment, is set to become the top shareholder of French artificial intelligence startup Mistral AI in a move to strengthen European tech sovereignty, people familiar with the matter told Reuters. The Dutch ASML is committing €1.3 billion for Mistral’s €1.7 billion fundraise and is expected to get a board seat at Mistral

  • IQM Quantum Computers has raised $320 million in venture capital, the largest Series B raise ever in the quantum space, both in Europe and outside of the US

  • Framer, a Dutch company that makes tools for automating web design, has raised a funding round at a $2 billion valuation

  • Lakestar has raised a $265 million continuation vehicle, allowing the group to hold onto some portfolio companies longer while bringing in new investors

  • Aerospacelab, a European satellite manufacturer, has closed an extended Series B funding round totalling €94 million throughout a dual-tranche funding of €56 million, alongside a €38 million commitment from a European Financial Institution

  • DataCrunch secures €55m in bid to become Europe’s AI cloud giant

  • Romanian Morphosis Capital Fund II closes at €130M to support SMEs in Central and Eastern Europe

  • Danish VC firm byFounders announces launch of Fund III to back early-stage startups

  • Phasecraft raises $34M to bring quantum computing closer to solving real-world challenges

  • Graphcore founder and CEO Nigel Toon is set to launch a new growth-stage deeptech fund

  • Plessey Semiconductors acquired by Haylo Labs

  • French venture studio M2care raises €26 million to accelerate the creation and development of innovative healthcare projects

Upcoming events in Europe for your calendar

The scrolled-all-the-way-down extras

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