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Future Tech Ventures (FTV), a new venture capital firm focusing on startups in the Northern Netherlands, officially launched yesterday in Groningen. FTV debuted with a €20mn fund that will support at least 50 high-tech startups in the proof-of-concept phase. The investment period is set between 2024 and 2029. “Startups are often in a very early phase where funding is difficult to secure, and there are significant risks related to technology, market, and team,” Niek Huizenga, fund manager at FTV, said in a statement. For this reason, the VC firm is also offering business support, networking opportunities, and guidance. The fund was…This story continues at The Next Web

Future Tech Ventures (FTV), a new venture capital firm focusing on startups in the Northern Netherlands, officially launched yesterday in Groningen. FTV debuted with a €20mn fund that will support at least 50 high-tech startups in the proof-of-concept phase. The investment period is set between 2024 and 2029. “Startups are often in a very early phase where funding is difficult to secure, and there are significant risks related to technology, market, and team,” Niek Huizenga, fund manager at FTV, said in a statement. For this reason, the VC firm is also offering business support, networking opportunities, and guidance. The fund was…

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German startup DeepDrive has bagged €30mn to scale up its electric motor technology that promises to boost EV range to over 800km — without any changes to battery capacity. Founded in 2021, DeepDrive claims its dual-rotor motor boasts the highest torque and power density of any EV motor available today. It also has low noise emissions, and is built using far fewer rare earth materials.   DeepDrive says its technology can make electric cars 20% more energy efficient, enabling automakers to build EVs with greater range at a lower cost.   DeepDrive is currently co-developing its electric motors with eight  of the…This story continues at The Next Web

German startup DeepDrive has bagged €30mn to scale up its electric motor technology that promises to boost EV range to over 800km — without any changes to battery capacity. Founded in 2021, DeepDrive claims its dual-rotor motor boasts the highest torque and power density of any EV motor available today. It also has low noise emissions, and is built using far fewer rare earth materials.   DeepDrive says its technology can make electric cars 20% more energy efficient, enabling automakers to build EVs with greater range at a lower cost.   DeepDrive is currently co-developing its electric motors with eight  of the…

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The NATO Innovation Fund (NIF) has announced its first investment in quantum tech, leading a €5mn seed round. The recipient is Southampton University spinout Aquark Technologies, which has developed a unique quantum sensing technology. Aquark’s patented cold atom system can be used as an alternative position, navigation, and timing (PNT) device, independent from satellites and thus immune to external tampering such as GPS interference. Doing away with the cumbersome magnetic traps Aquark calls itself a miniaturisation company. It specialises in micro-fabrication and vacuum technology. However, what really sets it apart, is that it has found entirely new ways of trapping…This story continues at The Next Web

The NATO Innovation Fund (NIF) has announced its first investment in quantum tech, leading a €5mn seed round. The recipient is Southampton University spinout Aquark Technologies, which has developed a unique quantum sensing technology. Aquark’s patented cold atom system can be used as an alternative position, navigation, and timing (PNT) device, independent from satellites and thus immune to external tampering such as GPS interference. Doing away with the cumbersome magnetic traps Aquark calls itself a miniaturisation company. It specialises in micro-fabrication and vacuum technology. However, what really sets it apart, is that it has found entirely new ways of trapping…

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This year, Air Canada lost a lawsuit against a customer who was misled by an AI chatbot into purchasing full-price plane tickets, being assured they would later be refunded under the company’s bereavement policy. The airline tried to claim the bot was “responsible for its own actions.” This line of argumentation was rejected by the court and the company not only had to pay compensation, it also received public criticism for attempting to distance itself from the situation. It’s clear companies are liable for AI models, even when they make mistakes beyond our control. The rapidly advancing world of AI,…This story continues at The Next Web

This year, Air Canada lost a lawsuit against a customer who was misled by an AI chatbot into purchasing full-price plane tickets, being assured they would later be refunded under the company’s bereavement policy. The airline tried to claim the bot was “responsible for its own actions.” This line of argumentation was rejected by the court and the company not only had to pay compensation, it also received public criticism for attempting to distance itself from the situation. It’s clear companies are liable for AI models, even when they make mistakes beyond our control. The rapidly advancing world of AI,…

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Amid the AI boom, data centres are consuming alarming amounts of electricity. They’re also responsible for 1% of global energy-related emissions. By 2030, their power demand could increase by 160%. Switzerland-based Lightium aims to provide a solution. The young startup announced today it has raised $7mn in seed funding to both accelerate the performance of data centres and reduce their energy consumption with a next generation of photonic chips. Data centres are essentially large clusters of three components: Central Processing Units (CPUs), Graphics Processing Units (GPUs), and optical interconnects that transmit data between these processors. These interconnects are typically based…This story continues at The Next Web

Amid the AI boom, data centres are consuming alarming amounts of electricity. They’re also responsible for 1% of global energy-related emissions. By 2030, their power demand could increase by 160%. Switzerland-based Lightium aims to provide a solution. The young startup announced today it has raised $7mn in seed funding to both accelerate the performance of data centres and reduce their energy consumption with a next generation of photonic chips. Data centres are essentially large clusters of three components: Central Processing Units (CPUs), Graphics Processing Units (GPUs), and optical interconnects that transmit data between these processors. These interconnects are typically based…

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Ekaterina Zaharieva hasn’t even started work as the EU’s first startup commissioner, but tensions are already rising around her role. The Bulgarian politician was nominated for the job on Tuesday. Alongside startups, her brief will also cover research and innovation. But first, her appointment needs approval from the European Parliament. Her critics hope that confirmation never comes. Here are three big reasons for their opposition. 1. She lacks experience in tech Zaharieva was a lawyer before climbing the ranks of Bulgarian politics to become deputy minister. In the world of tech, however, her experience is slim.  Her resume contains scant evidence…This story continues at The Next Web

Ekaterina Zaharieva hasn’t even started work as the EU’s first startup commissioner, but tensions are already rising around her role. The Bulgarian politician was nominated for the job on Tuesday. Alongside startups, her brief will also cover research and innovation. But first, her appointment needs approval from the European Parliament. Her critics hope that confirmation never comes. Here are three big reasons for their opposition. 1. She lacks experience in tech Zaharieva was a lawyer before climbing the ranks of Bulgarian politics to become deputy minister. In the world of tech, however, her experience is slim.  Her resume contains scant evidence…

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In its most expensive project to date, Germany’s Cyber Agency (Cyberagentur) has awarded three different contracts to four quantum computing startups — Quantum Brilliance, ParityQC, Oxford Ionics, and neQxt. Their mission is to deliver the world’s first quantum computer for “mobile security and defence” by 2027. After that, phase four of the project will kick in, and only one of the candidates will remain. Qubits from defect diamonds A portable quantum computer will be able to function independently of a network connection or a large data centre, which could be critical in crisis situations. These types of systems can also…This story continues at The Next Web

In its most expensive project to date, Germany’s Cyber Agency (Cyberagentur) has awarded three different contracts to four quantum computing startups — Quantum Brilliance, ParityQC, Oxford Ionics, and neQxt. Their mission is to deliver the world’s first quantum computer for “mobile security and defence” by 2027. After that, phase four of the project will kick in, and only one of the candidates will remain. Qubits from defect diamonds A portable quantum computer will be able to function independently of a network connection or a large data centre, which could be critical in crisis situations. These types of systems can also…

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 Welcome to the new episode of the TNW Podcast — the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In today’s episode, Linnea and Andrii talk about flight tracking and its community, the new European Commission, health trackers for pets, revisiting Prince of Persia, and much more. Here are the stories and things mentioned in the episode: This Swedish startup wants to pay the flight tracking community using blockchain Thierry Breton on X Ursula von der Leyen unveils her new European commissioners…This story continues at The Next Web

 Welcome to the new episode of the TNW Podcast — the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In today’s episode, Linnea and Andrii talk about flight tracking and its community, the new European Commission, health trackers for pets, revisiting Prince of Persia, and much more. Here are the stories and things mentioned in the episode: This Swedish startup wants to pay the flight tracking community using blockchain Thierry Breton on X Ursula von der Leyen unveils her new European commissioners…

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A German drone firm claims to have made a “major breakthrough” in autonomous swarm technology. Munich-based Quantum Systems announced on Tuesday that it has successfully flown AI-controlled Unmanned Aerial Systems (UAS) in swarms. The company said the AI ensured “reliable mission execution” — even when individual drones completely failed. The system also operated effectively under radio interference. Commissioned by the German Armed Forces, the tests were conducted last month at the Airbus Drone Centre in Manching, Bavaria. The team first trained the AI with deep reinforcement learning — a trial and error approach made famous by DeepMind. This enabled the system…This story continues at The Next Web

A German drone firm claims to have made a “major breakthrough” in autonomous swarm technology. Munich-based Quantum Systems announced on Tuesday that it has successfully flown AI-controlled Unmanned Aerial Systems (UAS) in swarms. The company said the AI ensured “reliable mission execution” — even when individual drones completely failed. The system also operated effectively under radio interference. Commissioned by the German Armed Forces, the tests were conducted last month at the Airbus Drone Centre in Manching, Bavaria. The team first trained the AI with deep reinforcement learning — a trial and error approach made famous by DeepMind. This enabled the system…

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Since its founding in 2017, DeepL has been raising machine translation standards, successfully rivalling giants such as Google Translate. Today, the startup unveiled an ‘industry-first’ AI-powered glossary generator for businesses. The new tool works as a supplement of DeepL’s Glossary feature, first launched in 2020. Glossary enables professionals and companies to personalise translations based on their needs, from technical terminology to product names and branded terms. “Many businesses struggle to get consistent and accurate messaging when they are communicating in different languages and across platforms,” David Parry-Jones, DeepL’s chief revenue officer, told TNW.  These difficulties range from internal communication between…This story continues at The Next Web

Since its founding in 2017, DeepL has been raising machine translation standards, successfully rivalling giants such as Google Translate. Today, the startup unveiled an ‘industry-first’ AI-powered glossary generator for businesses. The new tool works as a supplement of DeepL’s Glossary feature, first launched in 2020. Glossary enables professionals and companies to personalise translations based on their needs, from technical terminology to product names and branded terms. “Many businesses struggle to get consistent and accurate messaging when they are communicating in different languages and across platforms,” David Parry-Jones, DeepL’s chief revenue officer, told TNW.  These difficulties range from internal communication between…

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