Open Cosmos secures €300M, Europe at "acute risk of marginalisation, and Sweden’s evolving foodtech ecosystem

Europe had another busy week on the funding front, with Tech.eu tracking more than 70 tech deals worth over €1.7 billion, plus more than 10 exits, M&A moves, rumours and other related news. The biggest headline was Open Cosmos, which secured €300 million to push further into satellite intelligence and connectivity. That sits alongside a string of other giant rounds: Exein raised $270 million at a $1.7 billion valuation, Fever pulled in $250 million, and AI chip startup EUCLYD landed over €200 million in Series A.

The pattern is hard to miss. The week’s largest cheques went to companies working on the kinds of infrastructure Europe keeps saying it needs: satellites, cybersecurity, chips, and consumer platforms with scale. Open Cosmos is the clearest example here, but it’s not alone. EUCLYD also brought in Peter Wennink, the former ASML chief, as chairman — a signal that the company wants more than cash. It wants credibility, too.

Elsewhere, the deal flow was less splashy but still active. Endra launched Power Studio and bought Planlabs to move into mechanical engineering. LeHibou acquired Afarax to speed up its European expansion. The Vienna Stock Exchange is taking a majority stake in North Data, and Fime bought Red Alert Labs. In investor land, BioInnovation Institute backed 17 early-stage startups with €9.5 million, Brighteye Ventures closed a $72 million first round, and Crane Venture Partners raised €419 million as it expands across Europe, APAC and the US.

The bigger policy story came through in the week’s other news. A new report warned that Europe is at “acute risk of marginalisation” unless billions more are committed to AI funding. That warning lands alongside Swedish fintech Trustly cutting around 200 jobs and research from LF Energy saying open source could deliver 2-5x more value for energy grids. Europe is still producing serious companies and serious rounds. But the money, and the ambition behind it, are increasingly being treated like things the continent has to defend, not just celebrate.