Even Realities has announced a $150 million Pre-B funding round led by Meituan and Tencent, giving the company a valuation of $1 billion and officially earning it unicorn status. The funding will be used to develop its next-generation smart glasses platform, deepen AI integration and support global expansion as competition in the wearable technology sector continues to grow.

The announcement comes at a time when smart glasses are increasingly being viewed as a potential successor to the smartphone, with technology companies investing heavily in devices that combine AI with always-accessible information.

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A Different Vision For Smart Glasses

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Whilst much of the industry has focused on building smart glasses equipped with cameras and AI assistants, Even Realities has taken a different approach.

Its flagship product, the Even G2, is a camera-free pair of smart glasses that uses a subtle heads-up display to place information directly in the wearer’s line of sight. The company says the decision to exclude cameras was intentional, with privacy built into the hardware itself rather than relying on settings or policies.

The glasses are paired with the Even R1 smart ring, which allows users to control the device through taps and scrolling gestures without needing to reach for a smartphone.

According to founder and CEO Will Wang, the company sees smart glasses as the next major evolution in how people interact with technology.

“Every generation of computing has brought information closer to people, from the desktop to the laptop, from the laptop to the smartphone. We believe smart glasses are the next step in that progression. The future isn’t about pulling out a device every time you need information. It’s about having the right information available exactly when you need it, while remaining fully present in the world around you.”

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Why Investors Are Paying Attention

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The funding round highlights growing investor confidence in the smart glasses market, which has become one of the most closely watched sectors in consumer technology.

As advances in AI continue to accelerate, many companies are betting that wearable devices will become a key way for users to access information and interact with digital services.

Meituan partner Wang Xinyu believes smart glasses could become the interface that finally moves computing beyond the smartphone era: “The AI revolution demands a new interface beyond the smartphone. We see glasses as the most promising option��– they offer continuous, contextual feedback without interrupting daily life.”

It’s a view shared by a growing number of technology companies, many of which are investing heavily in wearable hardware as they look for the next major consumer platform.

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Building Products People Actually Want To Wear

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One of the biggest challenges facing smart glasses has always been convincing people to wear them regularly.

Even Realities believes success will come not from adding more features, but from creating products that fit naturally into everyday life. According to the company, users currently wear the Even G2 for an average of eight to ten hours per day, significantly longer than many comparable wearable devices.

The company has also built a strong presence in the United States, which accounts for more than half of its user base, whilst around 80% of its developer community is based there.

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What’s Next for the Newly Minted Unicorn?��

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With fresh capital and unicorn status now secured, Even Realities is preparing for its next phase of growth.

The company plans to invest further in hardware and software development, strengthen AI capabilities and expand its global operations to meet growing demand.

Whether smart glasses ultimately become the next mainstream computing platform remains to be seen. But as competition intensifies and investors continue to pour money into the category, Even Realities has positioned itself as one of the companies hoping to shape what that future looks like.

For now, at least, investors appear convinced that the future of wearable technology may not be about capturing more of the world around us, but accessing information more naturally within it.

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The round was led by Ventura Capital and RCM Private Markets Master Fund, managed by Rokos Capital Management US (LP), and comes just months after the company’s Seed round, highlighting what StirlingX describes as significant commercial traction.

The fresh capital will be used to accelerate product development and company growth as StirlingX expands its work with customers operating in some of the world’s most complex and sensitive environments.

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Building A Sovereign Intelligence Platform

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StirlingX is developing a sovereign intelligence and autonomy platform designed to help organisations capture, secure, fuse, analyse and act on data gathered from challenging and contested environments.

The company operates across defence and critical national infrastructure sectors, with applications ranging from infrastructure surveying and monitoring to the detection and countering of hostile drones.

At a time when governments and organisations are placing increasing emphasis on data sovereignty, security and resilience, StirlingX is positioning itself as a provider of intelligence capabilities that can operate within highly secure frameworks.

The company was founded and incubated by GALLOS Technologies, a venture studio and investor focused on security technology. GALLOS draws on expertise from the defence, intelligence and national security sectors to build and support emerging technology businesses.

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National Security In Focus

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StirlingX is chaired by Sir Jeremy Fleming, former Director of GCHQ, giving the company significant experience and credibility within the UK’s security and intelligence community.

Dean Jones, CEO and Founder of StirlingX, said: “We are building a category-defining sovereign data intelligence company. This Series A will drive our business forward as we scale with new and existing partners across critical national infrastructure and defence ministries and agencies.”

Sir Jeremy Fleming added,��“In an increasingly contested world, the ability to securely capture, fuse and act upon data is becoming a critical strategic advantage. This investment in StirlingX will accelerate the development of a uniquely British capability with significant national and international potential.”

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Investors Back Growing Demand

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The funding round reflects growing investor interest in technologies that support national resilience, defence capabilities and secure data infrastructure.

Mo El Husseiny, Managing Partner at Ventura Capital, said the firm was attracted by the combination of technical expertise, trusted relationships and market opportunity.

He commented that “The utilisation of powerful data intelligence has become a must for Government and corporates, and increasingly so within a sovereign-secure framework. StirlingX is the trusted solution for Five Eyes and beyond.”

Jonathan Ross, Head of Rokos Capital Management’s Private Markets Team, said the firm was increasing its commitment after already seeing the company’s progress as an existing shareholder.

“We are proud to grow our investment in StirlingX as it moves into this next phase.”

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A Growing Market For Sovereign Technology

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The investment comes as governments and critical infrastructure operators around the world seek greater control over how sensitive data is collected, processed and secured.

With geopolitical tensions, cybersecurity threats and the growing importance of autonomous systems continuing to reshape national security priorities, demand for sovereign data intelligence platforms is expected to increase significantly.

For StirlingX, the Series A provides both capital and momentum as it looks to scale its technology and strengthen its position within a rapidly evolving market.

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The problem, however, is that increasingly, that “one day” is taking much longer to arrive.

As private companies stay private for longer, a growing number of founders, employees and early investors are finding themselves in an unusual position: asset-rich on paper but cash-poor in reality. Now, New York-based startup Techdollar is betting that this problem has become big enough to build an entire business around.

The company has announced a $3 million pre-seed funding round and the launch of what it describes as the first lending platform designed specifically for holders of pre-IPO equity.

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The Growing Problem Of Locked-Up Startup Wealth

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Whilst venture-backed companies once raced towards public markets, many of today’s most valuable technology firms remain private for a decade or more. According to Techdollar, the world’s leading private AI companies alone now have a combined valuation exceeding $2.7 trillion.

At the same time, secondary markets for private shares have expanded rapidly. According to figures from Evercore cited by the company, secondary transactions reached a record $226 billion in 2025.

Despite this, many startup employees still struggle to access the value tied up in their shares.

Traditionally, they have had limited options. They can wait for an acquisition or IPO, sell shares through a secondary transaction if one is available, or attempt to secure financing against their holdings — a process that has historically been reserved for executives or investors with very large positions.

Techdollar wants to offer a fourth option.

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Borrowing Against Equity Rather Than Selling It

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The platform allows employees, founders and investors to borrow against their private company equity without selling shares.

Rather than viewing startup equity as a speculative asset, Techdollar argues that mature private-company shares should increasingly be treated like other valuable assets that can be used as collateral.

The company compares the model to mortgage lending.

Instead of selling a home to access capital, homeowners borrow against its value. Techdollar believes startup shareholders should be able to do the same with their equity.

According to the company, borrowers retain ownership of their shares, avoid triggering a taxable sale and maintain any future upside if the company continues to grow.

“The financial system was never built for the early employees who help build and scale these companies,” said Terence McMenamin, co-founder and CEO of Techdollar.

“Employee number three should have the same access to their own wealth as the CEO.”

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Investor Interest Signals A Growing Market

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The company’s $3 million pre-seed round was led by No Limit Holdings, with participation from ReforgeVC and a number of angel investors, including Curve Finance founder Michael Egorov.

Perhaps more telling than the funding itself is the level of demand Techdollar says it has already seen.

According to the company, it has built a pipeline of more than $100 million in qualified loan demand ahead of launch, drawn from employees and investors at companies across sectors including AI, aerospace, defence, robotics and payments.

That demand reflects a broader shift taking place across the startup ecosystem.

As private market valuations rise and IPO timelines stretch further into the future, founders and employees are increasingly looking for ways to access liquidity without giving up ownership.

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Is a New Category Emerging?

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Techdollar’s launch also highlights a wider trend: the financial infrastructure supporting private markets is becoming more sophisticated.

Over the last decade, platforms such as Carta and Pulley have helped companies manage ownership and cap tables. Secondary marketplaces have made it easier to buy and sell private shares. Now companies like Techdollar are attempting to build financial products on top of those assets.

The company says it is already integrated as a perk within Pulley and is currently discussing integration opportunities with Carta.

Whether equity-backed lending becomes a mainstream employee benefit remains to be seen. Questions around valuation volatility, risk management and regulation will inevitably follow.

But as startups remain private for longer and billions of pounds of wealth remain locked inside private company cap tables, the demand for new liquidity solutions is unlikely to disappear.

For a generation of startup employees sitting on valuable but inaccessible equity, that may be an opportunity worth watching.

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This week, Irish startup announced an €8 million seed funding round as it looks to capitalise on growing demand for sovereign AI infrastructure across Europe. The company plans to deploy dedicated NVIDIA Blackwell GPUs in European data centres, allowing businesses to run AI workloads without sensitive data leaving European jurisdiction.
While the funding itself is notable, the announcement reflects a much larger shift taking place across the continent.

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AI’s Next Challenge Is No Longer Capability

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For many organisations, the question is no longer whether AI works. Rather, the question has become where it works.
Over the past two years, enterprises have rapidly adopted AI tools for everything from software development and customer service to financial analysis and compliance. But, highly regulated industries like banking, healthcare and legal services have encountered a significant obstacle.

Many AI services rely on infrastructure operated by US-based cloud providers. Now, that creates uncertainty around where data is stored, who can access it and which laws ultimately govern it.

As regulations such as GDPR and the EU AI Act continue to evolve, data sovereignty has become a boardroom issue rather than simply a technical one.

For many businesses, particularly those handling sensitive customer information, AI adoption increasingly depends on being able to demonstrate that data remains under local control.

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Why Sovereign AI Is Becoming A European Priority

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The term “sovereign AI” has become one of the most frequently discussed concepts in European technology circles over the past year, and this doesn’t seem to be changing.

At its core, the idea is relatively simple – organisations want AI systems that operate within their own legal and regulatory frameworks.

“European companies don’t want to make a political statement about their AI stack. They want to make a practical one,” said Tim Grant, Executive Chairman of TensorX. “Their data has to stay in Europe, on infrastructure they can trust, under laws they are required to comply with. This is what TensorX was built from, from the chips up. We’re excited to grow this team to power our ambitions to scale rapidly.”

The challenge is that much of the world’s AI infrastructure remains concentrated in the United States.

This has created concerns around the US CLOUD Act, which allows American authorities to request data from US-headquartered technology providers under certain circumstances, regardless of where that data is physically stored.
Whether those concerns become a practical issue for most businesses remains a matter of debate. But, they have, undoubtedly, accelerated demand for alternatives.

As a result, European governments, investors and technology companies are increasingly investing in domestic AI capabilities.

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Infrastructure Is Becoming The New Battleground

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TensorX’s approach reflects a broader trend across the AI market. Rather than building foundation models, the company is focused on AI inference – the computing power used when AI systems generate responses, analyse data or complete tasks in real time.

Inference may not attract the same attention as model development, but many industry observers believe it could become one of the most valuable layers of the AI stack.

Every chatbot query, coding assistant prompt and AI agent action requires inference infrastructure to operate.
As enterprise adoption grows, demand for that infrastructure is expected to grow alongside it.

This helps explain why companies across Europe are investing heavily in data centres, GPU capacity and sovereign cloud services.

The competition is no longer just about creating the smartest AI model. Increasingly, it’s about deciding where that model runs.

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A Growing Opportunity For European Startups

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TensorX says it is already serving paying customers and generating revenue, with demand growing across Ireland, the UK, Germany, France and the Nordics.

That mirrors a wider trend as European organisations seek local AI providers capable of meeting increasingly complex regulatory requirements.

For startups, this creates an interesting opportunity.

The first wave of AI innovation focused heavily on applications and user experiences. The next wave may be defined by infrastructure, governance and trust.

As AI becomes embedded into critical business processes, enterprises are likely to place greater emphasis on compliance, security and control.

The result could be a new generation of European technology companies built not around AI models themselves, but around the infrastructure that makes them usable in regulated environments.

TensorX’s funding announcement may therefore be less about one company raising €8 million and more about a growing belief that Europe’s AI future will require European infrastructure to support it.

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Glasgow-based medical technology company is working to change that. The company has secured a £2 million grant from Scottish Enterprise to accelerate development of its patented nebuliser technology, building on £4.7 million in seed funding raised since its spin-out from the University of Glasgow.

The company’s hand-held nebuliser uses patented acoustic technology to precisely control how aerosol droplets are formed, enabling medicines to be delivered more gently and efficiently to the lungs.

It’s a significant advance as pharmaceutical pipelines increasingly include biologic, RNA and other advanced therapeutics that are difficult or impossible to deliver using conventional nebulisers.

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A Problem That Affects Millions

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Nebulisers are currently used to deliver medicine to people with conditions including asthma, chronic obstructive pulmonary disease (COPD) and cystic fibrosis.

In Scotland alone, around 720,000 people are currently treated for asthma and roughly 241,000 live with COPD, and managing respiratory conditions costs NHS Scotland in the region of £500 million a year.

According to Public Health Scotland, the number of people living with COPD is projected to rise from 134,257 in 2019 to 218,962 by 2044, an increase of around 63%.

That growth is putting healthcare systems under growing pressure to find more effective, patient-friendly treatment options to manage these conditions. Emerging medicines, including biologics and RNA-based therapies, are opening up new possibilities both in respiratory and a broader range of diseases, but their full potential can only be realised if they can be delivered safely and effectively to patients.

Nebu~Flow believes that inhaled delivery technologies will play an important role in making advanced medicines more accessible and says that early studies show its device can successfully deliver a much wider range of medicines than conventional nebulisers.

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From Prototype To Product

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The Scottish Enterprise grant will help Nebu~Flow move from a working prototype to a fully engineered product covering final design work, performance testing and the regulatory approvals needed to bring the device to market in the UK, Europe and the United States.

Andrea Cusack, Chief Executive Officer of Nebu~Flow, said “This support from Scottish Enterprise is a huge moment for our team. It allows us to turn years of Scottish research and engineering into a real product that could make a genuine difference to patients’ lives.

“Our goal is simple: to help people get better, more effective medicines in a way that’s easier, safer and more comfortable for them.”

Nicola Anderson, Director of Scaling Innovation at , pointed to the company’s journey from its earliest support through to this latest award. “Scottish Enterprise has nurtured Nebu-Flow’s ambition to revolutionise respiratory drug delivery over a number of years, from inclusion in our Unlocking Ambition entrepreneurship programme, feasibility grant support, investment in their vision and now with this significant R&D grant award,” she said. “The human health sector is a key opportunity area for growth in Scotland. Companies like Nebu-Flow play a vital role in transforming our economy by scaling up, creating high-value jobs and competing internationally. With this progress, there’s real hope that their work will deliver significant benefits for respiratory patients worldwide.”

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Built On Scottish Research, Aimed At A Global Market

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Nebu-Flow’s path from university spinout to this stage of funding reflects a broader pattern in Scottish health technology, where research emerging from universities increasingly becomes regulated medical products with international ambitions.

Its Glasgow-based team of engineers, scientists and clinicians pride themselves on their deep respiratory expertise and have already picked up industry recognition, including the CPHI Pharma Start-Up Initiative Award in 2024. The company plans to keep growing its team in Scotland while pursuing partnerships with pharmaceutical and biotech companies internationally.

With Scottish Enterprise support now in place, the company is focused on bringing its technology closer to market. If successful, the technology could expand patient access to advanced medicines delivered closer to home while opening new possibilities for pharmaceutical companies developing the next generation of medicines.

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The round was led by Heartcore Capital and Balderton Capital, with participation from Evantic, Yellow VC and Entrepreneurs First, alongside a group of angel investors that includes members of the SpaceMaker founding team and operators from companies such as Meta, Hugging Face and Supabase.

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Rethinking a Slow-Moving Industry

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Despite being one of the largest global asset classes, real estate development has remained relatively untouched by modern software innovation. Early-stage processes such as feasibility studies, site analysis and architectural design are still heavily manual, fragmented and time-intensive.

Davis is positioning itself as part of a broader shift away from traditional SaaS tools towards AI-native services that deliver outcomes directly. Rather than offering software to assist architects and developers, the company generates feasibility studies and architectural designs itself, and��then validates them with human experts before delivery.

The goal is simple: reduce the time it takes to move from site analysis to a workable concept from months to just a few days.

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From Tools to Outcomes

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Founded by Mehdi Rais and Amine Chraibi, Davis combines generative AI with architectural expertise to streamline early-stage development. The platform ingests regulatory, technical and market data, turning these inputs into constraints that guide design generation.

Outputs include feasibility studies, volumetric models, floor plans and space planning – all reviewed by human architects before being handed off to developers and investors.

This hybrid model reflects a growing trend across enterprise AI, where companies are moving beyond productivity tools and towards fully integrated, outcome-driven services.

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Davis Introduces Gaudi-1

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Alongside the funding, Davis has also launched Gaudi-1, its first proprietary model designed specifically for architectural generation under real-world constraints.

Unlike traditional generative models that operate in pixel-based environments, Gaudi-1 works in a structured, discrete space. It generates buildings as compositions of architectural elements such as rooms, walls and layouts, allowing for greater control and more reliable outputs.

This approach is designed to better reflect the realities of construction, where regulatory requirements, financial viability and spatial constraints all play a role in shaping design decisions.

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A Growing AI Category

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Davis is part of a broader movement applying AI to physical-world industries, often referred to as “Physical AI.” Similar to how AI is reshaping software development and customer service, startups are now targeting sectors like construction, manufacturing and logistics.

What makes real estate particularly attractive is the combination of high-value decisions and slow-moving processes. Even small efficiency gains can have significant financial impact, especially in early-stage development where time directly affects returns.

Investors are taking notice. According to Heartcore Capital partner Max Niederhofer, Davis stands out for combining three key elements: a proprietary generative model, human validation and a clear impact on timelines in a time-sensitive industry.

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Early Traction and Expansion Plans

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The company is already working with developers across multiple geographies and asset classes, with plans to support hundreds of projects over the next year.

Its technology is designed to adapt to local regulations, allowing it to scale across different markets without requiring entirely new systems for each region.

This flexibility could prove critical as AI adoption in real estate accelerates globally, particularly in markets facing housing shortages or increased development pressure.

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The Bigger Shift in PropTech

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Davis’ approach also signals a broader shift in proptech. For years, innovation in the sector has focused on digitisation – moving processes online or improving collaboration tools. Now, the focus is shifting towards automation and intelligence.

By delivering completed outputs rather than tools, companies like Davis are effectively repositioning themselves within the value chain, sitting closer to decision-making rather than just enabling it.

This raises interesting questions about the future role of architects, planners and developers. While human expertise remains central (particularly in validation and oversight) the balance between manual work and automated generation is clearly evolving.

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The Future for Davis and Gaudi-1

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With fresh funding in place, Davis plans to expand its research capabilities, grow its team and continue developing its AI models.

For co-founder and CEO Mehdi Rais, the ambition goes beyond speeding up workflows. “Real estate is one of the world’s largest asset classes, yet some of its most important workflows still move at a pace that no longer makes sense,” he said. “We started Davis to set a new time standard for real estate development.”

If the company succeeds, it won’t just make development faster – it could fundamentally change how cities are designed and built.

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The startup is positioning itself within an emerging category it calls Physical Observability��– software designed to turn existing industrial camera infrastructure into real-time operational intelligence for sectors such as mining, energy and logistics.

Rather than deploying new hardware, Misti AI’s approach focuses on converting passive video systems into structured, machine-readable data that can support monitoring, safety compliance and operational decision-making.

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Turning Industrial Cameras Into Real-Time Intelligence Systems

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Across heavy industry, millions of cameras are already deployed across sites such as mines, refineries and remote infrastructure networks. However, most of this footage is still used for passive monitoring or post-incident review rather than real-time insight.

Misti AI is aiming to change that by building a reasoning layer on top of existing systems, effectively transforming video feeds into continuous operational data streams.

The company has compared the model to observability platforms in software infrastructure, such as Datadog, but applied to the physical world.

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Early Deployments In Remote Industrial Environments

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The funding announcement comes as Misti AI begins initial deployments across mining and energy operations in Latin America, including sites in Peru.

These environments are often characterised by low connectivity and high operational risk, making real-time monitoring and compliance particularly challenging.

According to the company, early use cases include real-time monitoring in low-connectivity regions, automated safety and compliance workflows, and converting legacy camera systems into actionable operational data.

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Edge AI and Vision-Language Models At the Core

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Misti AI’s technical approach combines edge computing with vision-language models (VLMs), enabling systems to process data locally on-site rather than relying entirely on cloud infrastructure.

This is particularly important in remote industrial settings where connectivity can be limited or unstable.

The company says its focus is not just on detecting events, but on enabling systems to understand context – moving from what is happening to why it matters operationally.

Misti AI is also part of the NVIDIA Inception Program, which supports startups building AI infrastructure and applications.

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A New Category Forming Around “Physical Observability”

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The broader positioning reflects a growing trend in enterprise AI: the extension of software intelligence into physical environments.

While much of the AI investment cycle has focused on digital workflows, a new wave of startups is now targeting real-world infrastructure – from manufacturing and logistics to energy and construction.

In this context, Misti AI is betting that existing industrial camera networks represent an underutilised data layer that can be reinterpreted through AI systems.

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Investor Appetite for Industrial AI Infrastructure Grows

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Fuel Ventures led the round, with founder Mark Pearson highlighting the scale of opportunity in industrial video infrastructure.

He noted that large-scale camera networks in heavy industry remain one of the last untapped sources of real-time operational data, positioning Misti AI as part of a broader shift toward AI-driven industrial systems.

The backing also reflects continued investor interest in deep tech applications of AI, particularly in sectors where automation, safety and operational efficiency intersect.

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Building for the “Physical AI” Era

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Misti AI’s founders describe the long-term ambition as building a foundational intelligence layer for physical operations globally.

While the company is currently focused on observability and monitoring use cases, the broader vision reflects an emerging narrative in AI: systems that do not just analyse digital data, but interpret and act on real-world environments.

As AI moves further into industrial settings, the distinction between software intelligence and physical infrastructure is beginning to blur, and companies like Misti AI are positioning themselves directly at that intersection.

The pre-seed round remains open as the company continues to scale early deployments and expand its presence in industrial markets.

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The California-based company provides a platform that lets developers build, deploy and manage AI agents and complex workflows in production environments. Its underlying open-source technology, Conductor, was originally built at Netflix to support its global scale, and continues to power Netflix today.

Orkes has spent four years extending that foundation to AI and agentic systems, building out the orchestration layer that sits between a company’s AI models and its production infrastructure.

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From Pilot To Production

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The funding comes at a moment when enterprise AI adoption is running into a brick wall.

Gartner projects AI software spending will reach $450 billion in 2026, but according to McKinsey, two-thirds of companies were still running AI in pilot mode as recently as 2025. The divide separating proof of concept and production deployment has become one of the most pressing problems in enterprise AI, and Orkes is positioning its platform directly in that space.

Since its $20 million Series A in 2024, Orkes has tripled its customer base and built a developer community with millions of installs. Customers include United Wholesale Mortgage, Quest Diagnostics, Twilio, LinkedIn and Naveo Commerce, alongside developers at organisations including Netflix, JP Morgan Chase, Atlassian, Tesla, Oracle, American Express and GE Healthcare who continue to rely on the open-source Conductor project.

“Orkes gives developers the confidence to deploy AI in production with the reliability, control and scale they expect, and global enterprises rely on the platform for mission-critical operations,” said Alex Scherbakovsky, General Partner at AVP, who is joining the Orkes board.

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What The Platform Does

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Orkes’ platform allows developers to orchestrate complex workflows, build AI agents and run mission-critical applications with the governance and observability required for production environments. Its current suite includes an Agent Runtime for blending structured processes with AI-driven decisions, an MCP Gateway for turning internal APIs into tools that agents can use, and a Prompt-to-Workflow capability that converts natural language into deployable workflow drafts.

Naveo Commerce, an end-to-end commerce platform, uses Orkes to power dynamic fulfilment and adaptive orchestration across its global supply chain, with AI agents autonomously monitoring inventory, detecting disruptions and resolving issues in real time.

“Commerce is entering a new era,” said Jamie Goldring, CEO of Naveo Commerce. “Agentic orchestration is not incremental innovation but a structural leap forward, enabling enterprises to adapt in real time, unlock new revenue models and achieve resilience at scale.”

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Where The Investment Goes

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Jeu George, co-founder and CEO of Orkes, said the platform is bridging a gap that has held back enterprise AI adoption: “Developers need orchestration, controls and visibility to run advanced AI and agentic systems with confidence. The trust we’re seeing from both the developer community and global enterprises reinforces the role Orkes plays as the missing orchestration layer that makes AI highly reliable, observable and governable.”

Abhishek Shukla, Managing Director at Prosperity7 Ventures, framed the investment as a bet on the infrastructure layer of enterprise AI: “Orkes’ platform gives enterprises a single, governed engine to coordinate large language models, tools, microservices and human review, so AI can safely sit in the middle of mission-critical workflows.”

Orkes was co-founded by Jeu George (CEO), Viren Baraiya (CTO) and Dilip Lukose (CPO), all of whom previously led engineering at Netflix. The fresh capital will be used to expand the platform’s reach across the developer community and deepen its enterprise customer base.

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The Bath-based company will use the funding to support its first production plant in southern Italy, which is currently undergoing stress testing ahead of commercial production expected to begin in June. The facility marks a major step toward scaling a technology that’s designed to replace plastic microparticles in everyday products.

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Tackling Microplastics At the Source

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Naturbeads, a spin-out from the University of Bath, has developed a patented process that transforms cellulose – the natural building block of plants – into perfectly round microspheres. These can be used as a direct replacement for plastic microbeads commonly found in cosmetics, detergents, paints and coatings.

Microplastics have become a growing environmental concern, particularly in products that are designed to be washed off, like body scrubs and shampoos. Once rinsed away, the particles enter waterways and can persist in ecosystems for not only years but decades on end. Naturbeads’ plant-based alternative is fully biodegradable while maintaining similar performance characteristics to traditional plastic particles.

CEO Giovanna Laudisio said the company is focused on eliminating microplastic pollution at the source while delivering a scalable solution that industries can adopt without compromising on cost or functionality.

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Scaling Production in Italy

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The €4.1 million grant will partially reimburse the construction of Naturbeads’ new production facility in Puglia, Italy, while also supporting research and development as the company moves toward full commercialisation over the next two years.

The funding comes through the European Structural Fund, which supports economic development and innovation projects across selected regions. Puglia has increasingly positioned itself as a hub for manufacturing and innovation, with access to a skilled workforce and a growing focus on industrial transition.

Naturbeads has already begun production at the plant, with the current phase focused on testing different sections of the facility before ramping up output. Once it’s fully operational, the company plans to begin serving customers globally, including ingredient manufacturers and cosmetics brands already working with the startup.

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Regulation Is Driving Demand

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The funding arrives at a time when regulatory changes are expected to accelerate demand for alternatives to microplastics. New EU rules restricting the use of plastic microparticles in cosmetics will begin rolling out over the next decade, starting with rinse-off products in 2027, followed by leave-on cosmetics in 2029 and makeup-related products in 2035.

These changes are pushing manufacturers to find sustainable replacements that can match the performance of plastics. Naturbeads is positioning its cellulose-based microspheres as a drop-in solution that works across multiple industries.

While cosmetics are an early focus, the company says the technology can also be applied to paints, coatings, adhesives, detergents, softeners and even biomedical devices. This broader application potential could significantly expand the addressable market as sustainability requirements tighten.

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From Research To Commercial Scale

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Naturbeads has spent years developing its manufacturing process, which enables continuous production of biodegradable microbeads at scale. The Italian facility represents the startup’s first major step into commercial manufacturing.

The company says it has already reached a key milestone by successfully starting production at the plant. The next phase involves completing system testing and increasing output ahead of full-scale operations.

With customers already waiting for supply, the funding provides critical support as Naturbeads transitions from mere R&D to commercial deployment.

As industries face increasing pressure to remove microplastics from products, startups like Naturbeads are moving into position to provide scalable alternatives. With new production capacity coming online and regulatory tailwinds building, the company is now focused on turning its plant-based microspheres into a mainstream replacement for plastic.

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The Helsinki and London-based company is licensed and regulated by the Finnish Financial Supervisory Authority and currently serves more than 15,000 SME customers across Europe. Adoption has tripled over the past 12 months, with particularly strong uptake in Southern Europe and the Nordics. Italy has emerged as a key growth market, and the Nordic fintech sector continues to be a core base.

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More Than A Business Account

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Wamo’s platform combines multi-currency business accounts, cards, invoicing and expense management in a unified interface designed for small businesses. The company is also integrating embedded lending into its platform, using real-time banking, payments and operational data to enable faster, data-driven underwriting. After launching its business loan service in Finland, Wamo plans to expand lending across Europe in Q2 2026 through strategic partnerships, targeting €100 million in lending volume over the next 12 months.

Founder Yanki Onen said the company’s ambition goes beyond digital banking: “We are integrating AI and automation across our platform to reduce friction, unlock better insights and give businesses clearer control over their finances. More than 15,000 European SMEs already bank on Wamo, and we are now on a fast track to deliver a hyper-personalised experience to many more. We want to reach 100,000 customers.”

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Why Investors Are Backing It

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Pekka Maki, Managing Partner at 3TS Capital Partners, framed the opportunity as a structural one: “SME banking in Europe is still largely broken and the opportunity for a truly integrated platform is enormous. Wamo is one of the most focused teams we’ve seen tackling this problem, and their early traction in Italy and Finland validates the model.”

Ilker Sozdinler, General Partner at Oleka Capital, added: “SME banking in Europe remains underserved and fragmented. Wamo’s approach, combining intelligent automation with a focus on customer experience, positions them to capture significant market share.”

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