British fintech Wise said this week it would shift its primary listing from London to New York, joining a growing list of firms snubbing the London Stock Exchange. UK chip designer Arm opted for a New York IPO in 2023, while food delivery giant Just Eat Takeaway quit the LSE for Amsterdam in November.  Sweden’s Klarna has confirmed plans to go public in New York, following in the footsteps of fellow Stockholm-based tech darling Spotify, which listed on the NYSE in 2018.  The draw? Bigger valuations, deeper capital, and more appetite for risk. Register Now “The US economy continues to perform far better than the EU, and valuations are simply higher for companies that can list there,” Victor Basta, managing partner at Artis Partners, told TNW.    The numbers back him up. The NYSE boasts a market cap of around $27 trillion — compared to just $3.5 trillion for the LSE.  That scale — and the deep-pocketed investors it attracts — pushed Arm to list across the pond. Wise followed for the same reason, according to CEO Kristo Käärmann.  Käärmann said the move would tap “the biggest market opportunity in the world for our products today, and enable better access to the world’s deepest and most liquid capital market.”  Beyond sheer growth potential, US investors are also known for taking bigger bets on growth-stage tech companies.   “US investors understand the whole ‘revenue-before-profit’ strategy,”  Andrey Korchak, a British serial entrepreneur, told TNW. “Meanwhile, in Europe, they often want to see revenue from day one.”  That risk aversion, Korchak believes, restricts the growth of startups. “Europe just doesn’t have the same density of tech unicorns,” he said. “And when startups here do hit that billion-dollar mark, most still prefer to list in the US.” Sean Reddington, co-founder of UK tech firm Thrive, fears that Wise’s New York listing will deepen the problems.  “Wise’s move to the US signals a worrying trend,” he said. “It threatens a ‘brain drain’ of capital and talent, making it harder for growth-stage VCs to invest in UK scaleups without a clear US exit plan.” He called for urgent government action, including providing “meaningful incentives” for tech firms to list in the UK.  “If the ultimate reward of a domestic IPO is diminished, it pushes more companies to consider relocating or listing overseas,” he said. Europe’s startup struggles will be a hot topic at TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets for the event are now on sale — use the code TNWXMEDIA2025 at checkout to get 30%. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Two satellite heavyweights are about to form a European rival to Starlink. But they’ll face an uphill battle to compete with Elon Musk’s firm. Luxembourg-based SES’ proposed $3.1bn takeover of Intelsat is set to get the green light from EU officials, Reuters reports. A final verdict is expected by June 10.   SES first announced plans to acquire Luxembourgish-American rival Intelsat in April 2024, calling it a “transformational merger” that could reshape the satellite internet market. The merged company would have a fleet of more than 100 geostationary and 26 medium Earth orbit satellites. Intelsat would contribute 75 of those probes, which provide a range of services, including TV, radio, satellite internet, and secure communications for governments and militaries. A SES-Intelsat tie-up would create Europe’s second-largest satellite internet provider, after Franco-British firm Eutelsat. Smaller contenders include the UK’s Inmarsat and Spain’s Hisdesat.  Combined, Europe’s satellite firms could offer the continent much-sought alternatives to Musk’s Starlink or Amazon’s Project Kuiper, at a time when tech sovereignty is high on the political agenda.  European leaders are increasingly concerned about relying on Starlink. Their fears have been stoked by reports that US officials threatened to cut off the system in Ukraine if the country didn’t meet their demands on sharing its mineral wealth.   The situation raised doubts about the security implications of Ukraine — and broader Europe — relying on a single, privately owned network whose boss has direct ties to the Trump administration. Eustalstat, SES, Inmarsat, and Hisdesat reportedly entered talks with EU governments in March about providing back-up connectivity to Ukraine.  Despite the SES–Intelsat merger creating a more formidable European player, the new alliance will still face a daunting challenge against Starlink’s dominance.  Musk’s firm dwarfs its competitors in satellite numbers, with over 7,000 in low-Earth orbit (LEO). Its closest rival, Eutelsat, has around 600. Meanwhile, Amazon’s Project Kuiper is planning to deploy a constellation of 3,236 satellites.   Being part of SpaceX also affords Starlink direct access to satellite manufacturing and launch capacity. In contrast, SES and Intelsat depend on third-party launch providers and currently lack a proprietary low-Earth orbit network. While Intelsat has a $250mn agreement to access Eutelsat’s LEO capacity, this reliance on external constellations puts the merged entity at a disadvantage.  Even when combined with Europe’s other players — including Eutelsat, Inmarsat, and Hisdesat — the proposed merger pales in comparison. As European policymakers push for strategic autonomy in space, the SES–Intelsat merger may be a step in the right direction, but it’s still a far cry from a true Starlink rival.

European tech leaders are pushing back against high-profile VCs urging founders to work seven days a week — slamming the grindset mentality as everything from “toxic” to “childish.”  “Calling on founders to work insane hours nonstop is just bad advice,” Suranga Chandratillake, general partner at Balderton Capital and former CEO of video search engine Blinkx, told TNW. “Even sprinters don’t sprint all the time — rest and reflection is just as important as putting in the work.” His comments follow a LinkedIn post on Saturday by Harry Stebbings, podcast host and 28-year-old founder of London-based venture firm 20VC. “What European founders need to realise [is that] 7 days a week is the required velocity to win right now,” he wrote, implying that they need to match the infamous grind culture of Silicon Valley.       Martin Mignot, a partner at New York-based Index Ventures, rallied behind Stebbings. In a LinkedIn post of his own, he applauded the 9am-9pm, six days a week (illegal) work culture adopted by some tech firms in China. “Forget 9 to 5, 996 is the new startup standard,” he said.  While some echoed their views, many European tech founders and investors weren’t happy with the rhetoric. Amelia Miller, co-founder of return-to-work platform Ivee, called Stebbings’ post “unbelievably toxic.” Register Now “Only bad founders work 7 days non-stop,” she wrote. “It’s poor time management and a fast track to burnout.” Miller also said she thinks that working such long hours unfairly discriminates against parents and those with responsibilities outside the office.   Chandratillake also warned against taking advice from VCs without experience of starting and running a company. “If you’re a CEO, don’t listen to a jumped-up finance bro in a hoodie who has never done your job telling you how to do it!” he said.  The lively debate comes amid a broader conversation in European tech over whether workplace culture is holding the region back compared to the US or China.  In a podcast interview in March, Revolut boss Nik Storonsky criticised European startup entrepreneurs, saying they weren’t working hard enough and valued work-life balance too highly. Those comments followed another lively social media debate earlier this year about whether French founders lacked the “grindset” to succeed.   However, a recent survey of 128 European founders by early-stage VC firm Antler found that three-quarters of them work more than 60 hours weekly. Almost 20% of them exceeded 80 hours, challenging the notion that European founders don’t hustle.  Chandratillake said he believes that scrutinising work hours overlooks some of the real challenges founders face in Europe, such as access to late-stage financing. That said, the investor thinks there is a time and a place for the grind. “Sometimes founders have to work extremely hard and long hours, but that’s not sustainable all the time,” he said. “Building a successful company is a marathon, it takes endurance.”  European startup founders are the lifeblood of TNW Conference — and we want you there too. The tech festival takes place on June 19-20 in Amsterdam. Use the code TNWXMEDIA2025 at the ticket checkout to get 30% off. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Klarna’s CEO has warned that software engineers risk being left behind in the AI era — unless they’re also business-savvy. Speaking at SXSW London, Sebastian Siemiatkowski said the talent “who have really accelerated their careers at Klarna” are “business people who have learned to code.” The reason? “They can take their business understanding and turn it into deterministic or probabilistic statements with AI.” This shift, he warned, poses a threat to engineers. “A lot of them have allowed themselves to be isolated with technical challenges only, and not been that interested in what the business actually does,” he said. His message to them was blunt: “Engineers really need to step up and make sure they understand the business.” The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Siemiatkowski’s comments add another layer to Klarna’s controversial AI transformation. In December 2023, he said advances in the field had led the buy-now-pay-later firm to freeze hiring for all roles — except engineers. A year later, he had an update: the company had stopped bringing on new staff entirely. Open job listings, however, told a different story. Klarna also recently launched a new recruitment drive to ensure customers can always speak to a human. The apparent contradiction has drawn criticism, but the company is doubling down on automation. Last year, Klarna announced that its OpenAI-powered assistant was doing the work of 700 full-time customer service agents. It also used an AI-generated version of Siemiatkowski to present its financial update — suggesting even CEOs could be automated. The 43-year-old recently claimed that AI can already do “all of the jobs” that humans can do. At SXSW London, he stressed the need to be upfront about the risks. “I don’t want to be one of the tech CEOs that are like no worries everything will be fine, because I do think there will be major implications for white collar jobs and so I want to be honest about it,” he said. Despite the gloom, Siemiatkowski still sees big opportunities for people who blend business acumen with technical skills. “That category of people will become even more valuable going forward,” he said. Big names from both AI and fintech will be speaking at TNW Conference on June 19-20 in Amsterdam. Want to join them? Well, we have a special offer for you — use the code TNWXMEDIA2025 at the ticket checkout to get 30% off. Story by Thomas Macaulay Managing editor Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he e (show all) Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he enjoys playing chess (badly) and the guitar (even worse). Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

The report, Europe’s Moonshot Moment, found that the continent has over 280 software companies generating more than €100 million in annual recurring revenue (ARR). These scaleups include the likes of Spotify, Revolut, Adyen, and Vinted. However, European software businesses that reach the €100 million ARR threshold take 15 years on average to get there. That’s five years longer than their US peers, the report found. Europe also lags in birthing software giants. While 5–10% of US firms reaching €100 million in ARR subsequently scale to €1 billion, fewer than 3% of their European peers reach that milestone. The report highlighted some of the reasons for this stalled growth: fragmented markets, conservative corporate norms, and a slower flow of late-stage capital relative to early-stage investment. Turning point? Register Now Despite the hurdles, the report’s authors are confident that all the ingredients for Europe’s success in software are now in place. “Europe already holds the essentials to create the world’s next generation of software champions: deep talent pools, vibrant founder networks, and a rapidly maturing capital base,” said Ruben Schaubroeck, senior partner at McKinsey. While Europe lost out to Silicon Valley firms like Google and Microsoft in the early internet era, emerging technologies like AI may offer a new opening for the region’s tech startups. Geopolitical shifts could also drive governments to invest in local tech ecosystems and rethink digital sovereignty, said the report. “There’s no denying that European tech has faced structural barriers, but we’re at a genuine inflection point,” Phill Robinson, CEO and co-founder at Boardwave, told TNW. “New technology arenas, geopolitics, and an evolving operating environment are creating a unique opportunity for Europe to boost innovation.” Now Europe must turn that potential into profits, the report argues. To that end, it suggests five key interventions to boost Europe’s software ecosystem: Expand late-stage funding Encourage experienced founders to start new companies Make it easier for sales and marketing teams to work across borders and help startups grow faster Encourage more large firms in Europe to buy software from European startups by offering government support or financial incentives Strengthen public-private partnerships to de-risk new technologies Scaling up European tech The McKinsey/Boardwave report comes hot on the heels of the EU’s landmark Startup and Scaleup Strategy, launched last week. The plan set out several reforms designed to remove barriers to growth for the bloc’s early-stage companies. “If implemented boldly, and most importantly quickly, it can help Europe move from fragmented success stories to systemic, continent-wide scale; otherwise, we risk being left behind,” said Robinson, commenting on the new strategy. The EU’s proposal includes provisions for a long-awaited “28th regime,” which would allow companies to operate under a single set of rules across the 27 member states. It is intended to reduce headaches around taxes, employment rules, and insolvency. Robinson said he believes the EU’s new strategy will strengthen Europe’s software ecosystem by making it easier to operate across borders. “We need to act as one innovation ecosystem, not 27 different ones,” he said. “That’s what makes this Europe’s moonshot moment. If we connect and act now, we can lead. And not just in Europe, but globally.” Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Human organs could be bioprinted for transplants within 10 years, according to Lithuanian startup Vital3D. But before reaching human hearts and kidneys, the company is starting with something simpler: regenerating dog skin. Based in Vilnius, Vital3D is already bioprinting functional tissue constructs. Using a proprietary laser system, the startup deposits living cells and biomaterials in precise 3D patterns. The structures mimic natural biological systems — and could one day form entire organs tailored to a patient’s unique anatomy. That mission is both professional and personal for CEO Vidmantas Šakalys. After losing a mentor to urinary cancer, he set out to develop 3D-printed kidneys that could save others from the same fate. But before reaching that goal, the company needs a commercial product to fund the long road ahead. That product is VitalHeal — the first-ever bioprinted wound patch for pets. Dogs are the initial target, with human applications slated to follow. Šakalys calls the patch “a first step” towards bioprinted kidneys. “Printing organs for transplantation is a really challenging task,” he tells TNW after a tour of his lab. “It’s 10 or 15 years away from now, and as a commercial entity, we need to have commercially available products earlier. So we start with simpler products and then move into more difficult ones.” Register Now The path may be simpler, but the technology is anything but. Bioprinting goes to the vet VitalHeal is embedded with growth factors that accelerate skin regeneration. Across the patch’s surface, tiny pores about one-fifth the width of a human hair enable air circulation while blocking bacteria. Once applied, VitalHeal seals the wound and maintains constant pressure while the growth factors get to work. According to Vital3D, the patch can reduce healing time from 10–12 weeks to just four to six. Infection risk can drop from 30% to under 10%, vet visits from eight to two or three, and surgery times by half. Current treatments, the startup argues, can be costly, ineffective, and distressing for animals. VitalHeal is designed to provide a safer, faster, and cheaper alternative. Vital3D says the market is big — and the data backs up the claim. Vital3D’s FemtoBrush system promises high-speed and high-precision bioprinting. Credit: Vital3D Commercial prospects The global animal wound care market is projected to grow from $1.4bn (€1.24bn) in 2024 to $2.1bn (€1.87bn) by 2030, fuelled by rising pet ownership and demand for advanced veterinary care. Vital3D forecasts an initial serviceable addressable market (ISAM) of €76.5mn across the EU and US. By 2027-2028, the company aims to sell 100,000 units. Dogs are a logical starting point. Their size, activity levels, and surgeries raise their risk of wounds. Around half of dogs over age 10 are also affected by cancer, further increasing demand for effective wound care. At €300 retail (or €150 wholesale), the patches won’t be cheap. But Vital3D claims they could slash treatment costs for pet owners from €3,000 to €1,500. Production at scale is expected to bring prices down further.  After strong results in rats, trials on dogs will begin this summer in clinics in Lithuania and the UK — Vital3D’s pilot markets. If all goes to plan, a non-degradable patch will launch in Europe next year. The company will then progress to a biodegradable version. From there, the company plans to adapt the tech for humans. The initial focus will be wound care for people with diabetes, 25% of whom suffer from impaired healing. Future versions could support burn victims, injured soldiers, and others in need of advanced skin restoration. Freshly printed fluids in a bio-ink droplet. Credit: Vital3D Vital3D is also exploring other medical frontiers. In partnership with Lithuania’s National Cancer Institute, the startup is building organoids — mini versions of organs — for cancer drug testing. Another project involves bioprinted stents, which are showing promise in early animal trials. But all these efforts serve a bigger mission. “Our final target is to move to organ printing for transplants,” says Šakalys. Bioprinting organs A computer engineer by training, Šakalys has worked with photonic innovations for over 10 years.  At his previous startup, Femtika, he harnessed lasers to produce tiny components for microelectronics, medical devices, and aerospace engineering. He realised they could also enable precise bioprinting.  In 2021, he co-founded Vital3D to advance the concept. The company’s printing system directs light towards a photosensitive bio-ink. The material is hardened and formed into a structure, with living cells and biomaterials moulded into intricate 3D patterns. The shape of the laser beam can be adjusted to replicate complex biological forms — potentially even entire organs. But there are still major scientific hurdles to overcome. One is vascularisation, the formation of blood vessels in intricate networks. Another is the diverse variety of cell types in many organs. Replicating these sophisticated natural structures will be challenging. “First of all, we want to solve the vasculature. Then we will go into the differentiation of cells,” Šakalys says. “Our target is to see if we can print from fewer cells, but try to differentiate them while printing into different types of cells.”  If successful, Vital3D could help ease the global shortage of transplantable organs. Fewer than 10% of patients who need a transplant receive one each year, according to the World Health Organisation. In the US alone, around 90,000 people are waiting for a kidney — a shortfall that’s fuelling a thriving black market. Šakalys believes that could be just the start. He envisions bioprinting not just creating organs, but also advancing a new era of personalised medicine. “It can bring a lot of benefits to society,” he says. “Not just bioprinting for transplants, but also tissue engineering as well.” Want to discover the next big thing in tech? Then take a trip to TNW Conference, where thousands of founders, investors, and corporate innovators will share their ideas. The event takes place on June 19–20 in Amsterdam and tickets are on sale now. Use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Thomas Macaulay Managing editor Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he e (show all) Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he enjoys playing chess (badly) and the guitar (even worse). Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

While Europe races to phase out fossil fuels and electrify everything from cars to heating systems, it’s turning a blind eye to a reliable and proven source of clean energy lying right beneath our feet.  Geothermal energy offers exactly what the continent needs most: clean, local, always-on power. Yet, it only accounted for 0.2% of power generation on the continent in 2024. Something needs to change. The recent blackout in Spain, triggered by a failure in the high-voltage grid, serves as a warning shot. While solar and wind are vital pillars of decarbonisation, they’re variable by nature. Without steady, around-the-clock sources of electricity, Europe risks swapping one form of energy insecurity for another. A much bigger wake-up call came in 2022 when Russia launched a full-scale invasion of Ukraine. For years, European governments had built an energy system dependent on imports of natural gas. When that stack of cards shattered, it triggered an energy crisis that exposed the vulnerable underbelly of Europe’s power system.  The answer to these problems lies, in part, a few kilometres underground. According to the International Energy Agency, geothermal energy has the potential to power the planet 150 times over. But it’s not just about electricity — geothermal can also deliver clean, reliable heat. That makes it especially valuable in Europe, where millions of homes already rely on radiators and district heating systems, many of them still powered by natural gas. Geothermal plants also come with a smaller footprint. They require far less land than an equivalent solar farm or wind park. What’s more, the materials and infrastructure needed to build them — like drilling rigs and turbines — can be largely sourced locally. That’s a sharp contrast to solar panels and batteries, most of which are imported from China.   Geothermal energy is not theoretical. It doesn’t require scientific breakthroughs. We’ve been drilling wells and extracting energy from the Earth for centuries. The know-how exists, and so does the workforce. Decades of oil and gas exploration have built a deep bench of geologists, drillers, reservoir engineers, and project managers. Instead of letting this expertise fade, we can redeploy it to build geothermal plants. The infrastructure, such as drilling rigs, can also be repurposed for a cleaner cause. Geothermal could be the ultimate redemption arc for oil and gas. Sure, drilling deep isn’t cheap — yet. But a new crop of startups is rewriting the playbook. Armed with everything from plasma pulse drills to giant radiators, these companies could finally crack the cost barrier — and make geothermal available pretty much anywhere. Just as SpaceX disrupted a sclerotic rocket industry with its cheap launches, these startups are poised to succeed where the geothermal industry has failed.  All that’s missing is investment. While billions are being funnelled into high-risk technologies like fusion or nuclear fission reactors, funding for geothermal tech is minuscule in comparison, especially in Europe. Yet, unlike those technologies, geothermal is ready right now.   If Europe wants to achieve climate neutrality and energy sovereignty, it must stop ignoring geothermal. We need bold investment, regulatory reform, and a clear signal to industry: don’t let geothermal become a forgotten renewable. Grid failures, missed climate targets, deeper energy dependence — these are the risks Europe faces. It’s time to start drilling, before it’s too late.  Want to discover the next big thing in tech? Then take a trip to TNW Conference, where thousands of founders, investors, and corporate innovators will share their ideas. The event takes place on June 19–20 in Amsterdam and tickets are on sale now. Use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Earlier this month, the father of a wealthy cryptocurrency entrepreneur was abducted in Paris while walking his dog. The attackers, wearing balaclavas, forced him into a van, later severing one of his fingers and sending a video of the mutilation to his son alongside a demand for millions of euros in ransom. The incident joined a growing list of violent crimes in France linked to crypto wealth. Victims have included a prominent entrepreneur and his wife who were held hostage, a man doused in petrol, and a child targeted in an attempted abduction. As fear spreads within France’s crypto community, some industry figures are accusing the EU’s landmark digital asset regulations of exposing holders to greater risk. Their concerns centre on the transparency requirements, which could make it easier to track down crypto owners. However, other insiders argue that the EU rules make a convenient scapegoat. Stanislas Barthélemi, president of the French crypto lobbying group ADAN, told the New York Times this week that the rules may inadvertently have put holders in danger. By creating a traceable digital footprint, he said, criminals could potentially monitor blockchain activity to identify wealthy targets. Alexandre Stachchenko, director of strategy at French crypto exchange Paymium, echoed the concern. He said the industry “wants to be discrete and anonymous,” but EU law “tells us it’s criminal.” Register Now Yet others in the industry dispute the claim that the EU’s regulations have played a role in the surge in attacks. ‘Strategic deflection’ Marit Rødevand, CEO & co-founder of Norwegian anti-money laundering firm Strise, said there was “little evidence” of a connection between the union’s rules and crypto kidnappings.  “While it is easy for champions of crypto to postulate that the increased physical attacks on those operating in the space are a product of regulations, this is both reductive and a strategic deflection away from legitimate security concerns,” she said. According to Rødevand, it is just as likely that information about potential targets was accessed through hacks, social media exposure, or publicity. Many crypto entrepreneurs are also prominent influencers.  Christopher Whitehouse, a crypto expert and solicitor at London-based law firm RPC, also made no connection. Instead, he said those holding high amounts of cryptocurrency were “obvious targets.” “The recent surge in crypto-motivated kidnappings in France is alarming but not surprising,” Whitehouse told TNW.  He noted that cryptocurrencies have several features that make them attractive for ransom. They can be transferred instantly, are difficult to trace if moved by sophisticated criminals, and lack the safeguards of traditional bank accounts. Traditional currency, in contrast, can be tracked via serial numbers.  Exploiting human vulnerability The recent violence in France, while brutal, is also not anything new. According to data compiled by crypto security advocate Jameson Lopp, over 200 physical attacks against Bitcoin and cryptocurrency holders have been reported since 2014. Some have been fatal.   Matt Green, head of blockchain technology disputes at London law firm Lawrence Stephens, contends that the violence boils down to criminals exploiting the weakest link in the crypto chain: people.    “The only thing stopping criminals [from] gaining access is human error or force, so kidnapping aims to break down the integrity of that human-led security,” he told TNW. To protect themselves, some high-wealth crypto holders have beefed up their personal security, including hiring bodyguards.  Green suggests another layer of protection: multisignature wallets, a type of crypto wallet that requires multiple users to perform certain tasks, such as making transfers.  Just as some shops display signs saying no cash is kept on premises, crypto holders would do well to make it clear that a single individual cannot access funds, Green said. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week.

Remote-controlled robots could one day build giant solar farms in space, according to a recent trial in the UK. British startup Space Solar conducted the test at the UK Atomic Energy Authority’s (UKAEA) facilities on the University of Oxford’s Culham Campus, which hosts several fusion research initiatives. The company used two remotely operated robotic arms to assemble a section of the support structure for its future solar power satellite. The device aims to beam the Sun’s energy from space to Earth.  According to Space Solar, the trial proved that robotics can assemble gigawatt-scale solar power satellites. Sam Adlen, the startup’s co-CEO, said the demonstration opens the door to all manner of in-space infrastructure projects.    “This is a milestone not just for our satellite architecture, but for the future of large-scale structures in space, from data centres to energy infrastructure,” he said. As part of its plans to build a working fusion reactor, UKAEA is developing robots for extreme industrial environments, such as maintaining future fusion power plants. The trial shows that those same machines may also show promise for cosmic applications.  Professor Rob Buckingham, executive director of UKAEA, said building fusion reactors and structures in space shared some common challenges, such as remoteness, radiation, and extreme temperatures. The demo suggests that fusion-hardened robotics could help automate the complex task of assembling vast solar farms in orbit.    A solar revolution in space? Space Solar plans to capture the Sun’s energy in space, using huge satellites equipped with solar arrays that are several kilometres long and around 20 metres wide. The probes would capture the energy via microwaves and wirelessly transmit it to dedicated receiver stations on Earth, which would convert the energy into electricity.    By 2029, Space Solar plans to commission its first 30MW demonstrator system, which would be capable of powering around 1000 homes. By the early 2030s,  the startup plans to deploy its first gigawatt-scale solar space farm. The UK Space Agency has provided grant funding for the development of the startup’s first satellite. Solar panels are theoretically capable of gathering far more energy in space than on Earth because, unhindered by the atmosphere, the intensity of sunlight is much greater. They could also beam energy from orbit 24/7, regardless of the weather on the ground.  However, space-based solar power faces many challenges. It’s currently far more expensive than ground-based solar systems — the initial development of a gigawatt-scale prototype could cost €15bn–€20bn. Then there are the potential environmental impacts. Installing a satellite of that scale could involve hundreds of separate rocket launches, contributing to atmospheric pollution.  Nevertheless, the European Space Agency (ESA), NASA, and several startups in the UK, US, China, and Japan are all working to make space-based solar a reality. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

The European Commission has unveiled ambitious plans to cut red tape and make the EU a more attractive place for tech businesses to scale.  Launched today, the EU Startup and Scaleup Strategy comes as the bloc scrambles to attract and retain tech startups amid stiff competition from the US and Asia.  Under the new initiative, the EU has laid out a five-point plan to close the gap with its rivals. It’s also in talks to deploy a public-private fund of at least €10bn under the new strategy, Reuters reports.  Here’s the lowdown: 1. Making rules less painful European startups regularly express frustrations that EU regulation holds them back. To ease that, the EU wants to create a “28th regime” — essentially a simplified legal framework for companies to operate under a single set of rules across the 27 member states. It’s meant to reduce headaches around things like taxes, employment rules, or insolvency.  There’s also a new digital ID, the European Business Wallet, scheduled for rollout during the fourth quarter of this year. The ID is meant to make it easier and faster to deal with public administrations by providing a digital identity and data exchange system that reduces paperwork and manual verification. For example, a startup using the wallet could instantly share verified credentials with a government agency, potentially skipping weeks of paperwork.    Additionally, the upcoming European Innovation Act, scheduled to come into force in 2026, will offer startups more “regulatory sandboxes” where they can safely test new ideas without tripping over outdated rules.  2. Closing the funding gap In 2024, US startups raised $178bn, more than triple the $51bn figure for European companies, according to Crunchbase.  The EU proposes three measures to close the gap.  The first is the Savings and Investments Union, designed to channel more household savings and private capital into European businesses. It aims to do this through mechanisms such as lowering the transaction costs of cross-border investments to attract more outside capital and simplifying insolvency laws to give investors greater confidence in backing a startup that might go belly up. Secondly, it plans to “expand and simplify” the European Innovation Council, the EU body that gives startups access to the funding and coaching they need to scale.  Thirdly, it looks to develop an Innovation Investment Pact, a voluntary initiative designed to entice big institutional investors to back EU funds, venture capital firms, and scaleups. It aims to do this by lowering the complexity, cost, and risks of investing in smaller funds and companies — making it easier for the big fish to fund the little guys.  Combined, the idea is to make it a lot easier for European startups to grow without relocating abroad. 3. Helping ideas leave the lab While Europe is known for world-class research, that doesn’t always translate to world-class businesses.  The EU wants to change that with a “Lab to Unicorn” initiative that connects startups with universities across Europe. The idea is to make it easier — and fairer — to turn academic research into spinouts. It will include guidance on licensing intellectual property, sharing revenue or equity, and commercialising cutting-edge research. 4. Attracting world-class talent Hiring skilled people — especially across borders — is often a major barrier for European startups.  The EU’s “Blue Carpet” plans to streamline hiring of international talent. The initiative will focus on entrepreneurial education, better employee stock options, and cross-border employment. The bloc is also pushing for a Blue Card Directive, which will encourage member states to fast-track visas for non-EU founders. If it works, startups might find it easier to build international teams, keep top talent, and relocate themselves.  5. Opening up critical infrastructure Finally, the EU wants to make it easier for startups to access high-end research labs and tech infrastructure — the kind of facilities usually reserved for big players. A new Charter of Access will aim to standardise and simplify this process, so startups can tap into these resources more easily and bring products to market faster. Ekaterina Zaharieva, European Commissioner for Startups, Research, and Innovation, said the five-point plan would “remove the barriers” holding back the region’s entrepreneurs. “The strategy will enable us to turn Europe’s wealth of creativity, research, and ambition into thriving new companies, quality jobs, and real-world impacts,” she said.   The plan signals a clear intent to boost Europe’s startup landscape. But with global rivals moving fast, much will depend on how quickly and decisively the EU turns ambition into action. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week.

David Reger, founder and CEO of Munich-based Neura Robotics, is building humanoid robots — and a reputation with a touch of déjà vu. In the German press, he’s sometimes dubbed the “Young Elon Musk.”  It’s a nickname Reger embraces, despite all of the controversy surrounding the world’s richest man. “For me, it’s a positive, not a negative,” he told TNW in an interview. “I respect how Musk builds companies, how successful he is, how fearless he is to drive things further.” Musk’s politics, Reger continues, aren’t the focus of his admiration. “I’m just thinking about technological advancement and how to move that further and faster, and I admire Musk for that.” Like Musk, Reger has speed on his mind. Founded in 2019, Neura has quickly grown into one of Europe’s best-funded robotics startups, with over 600 employees. It’s already commercialised multiple robots, including a robotic arm for manufacturing and a load-carrying robot. And next month, the company will unveil the third generation of the 4NE-1 robot, which it claims will be the world’s most advanced humanoid.  The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!4NE-1 — as the name implies — is a robot built for anyone. The human-like bot is designed to be equally capable of folding your washing at home as it is stacking boxes in a warehouse. The current version of 4NE-1 is 180cm tall, tips the scales at about 80kg, and can carry items weighing up to 15kg. With a top speed of 3km/h, though, it’s a bit of a slowcoach. Its performance is set to improve in the third generation — we’ll have to wait to find out. What sets the humanoid apart, according to Reger, is its cognitive abilities. “It can touch, think, and react in much the same way humans do,” he said.  That’s thanks to a network of sensors and cameras embedded throughout its body. These feed real-time data to an AI system that interprets the environment and makes split-second decisions. The third generation of 4NE-1 will have more of these sensors than other humanoids, Reger said, allowing better data collection and closing the loop between virtual and physical worlds.  While Reger is confident that Neura is building the best humanoid, competition will be fierce. There are hundreds of companies developing human-like robots globally — including Musk’s car firm Tesla. The company is currently developing Optimus, also known as the “Tesla bot.”  Optimus is not dissimilar to Neura’s 4NE-1. Measuring 173cm and weighing 57kg, it’s also designed to be multi-purpose. It can fold washing, water plants, and vacuum, according to a recent demo video. Tesla aims to produce between 5,000 to 12,000 Optimus units this year.  “I see Musk as my only competitor in the segment,” said Reger.  Although Reger admires Musk, he’s wary of the impact his recent antics could have on robotics. He fears the political controversies could set the industry back.  “For humanoids to be accepted in people’s homes and work lives, trust is everything,” said Reger. “So he should be careful with what he is doing.” Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Our latest and most advanced technologies — from AI to Industrial IoT, advanced robotics, and self-driving cars — share serious problems: massive energy consumption, limited on-edge capabilities, system hallucinations, and serious accuracy gaps.  One possible solution is emerging in the Netherlands. The country is developing a promising ecosystem for neuromorphic computing, which draws on neuroscience to boost IT efficiencies and performance. Billions of euros are being invested in this new form of computing worldwide. The Netherlands aims to become a leader in the market by bringing together startups, established companies, government organisations, and academics in a neuromorphic computing ecosystem. A Dutch mission to the UK In March, a Dutch delegation landed in the UK to host an “Innovation Mission” with local tech and government representatives. Top Sector ICT, a Dutch government–supported organisation, led the mission, which sought to strengthen and discuss the future of neuromorphic computing in Europe and the Netherlands.  We contacted Top Sector ICT, who connected us with one of their collaborators: Dr Johan H. Mentink, an expert in computational physics at Radboud University in the Netherlands. Dr Mentink spoke about how neuromorphic computing can solve the energy, accuracy, and efficiency challenges of our current computing architectures.  Grab that deal “Current digital computers use power-hungry processes to handle data,” Dr Mentink said.  “The result is that some modern data centres use so much energy that they even need their own power plant.”  Computing today stores data in one place (memory) and processes it in another place (processors). This means that a lot of energy is spent on transporting data, Dr Mentink explained.  In contrast, neuromorphic computing architectures are different at the hardware and software levels. For example, instead of using processors and memories, neuromorphic systems leverage new hardware components such as memristors. These act as both memory and processors.  By processing and saving data on the same hardware component, neuromorphic computing removes the energy-intensive and error-prone task of transporting data. Additionally, because data is stored on these components, it can be processed more immediately, resulting in faster decision-making, reduced hallucinations, improved accuracy, and better performance. This concept is being applied to edge computing, Industrial IoT, and robotics to drive faster real-time decision-making.  “Just like our brains process and store information in the same place, we can make computers that would combine data storage and processing in one place,” Dr Mentink explained.   Early use cases for neuromorphic computing Neuromorphic computing is far from just experimental. A great number of new and established technology companies are heavily invested in developing new hardware, edge devices, software, and neuromorphic computing applications. Big tech brands such as IBM, NVIDIA, and Intel, with its Loihi chips, are all involved in neuromorphic computing, while companies in the Netherlands, aligned with a 2024 national white paper, are taking a leading regional role.  For example, the Dutch company Innatera — a leader in ultra-low power neuromorphic processors — recently secured €15 million in Series-A funding from Invest-NL Deep Tech Fund, the EIC Fund, MIG Capital, Matterwave Ventures, and Delft Enterprises.  Innatera is just the tip of the iceberg, as the Netherlands continues to support the new industry through funds, grants, and other incentives. Immediate use cases for neuromorphic computing include event-based sensing technologies integrated into smart sensors such as cameras or audio. These neuromorphic devices only process change, which can dramatically reduce power and data load, said Sylvester Kaczmarek, the CEO of OrbiSky Systems, a company providing AI integration for space technology.   Neuromorphic hardware and software have the potential to transfer AI running on the edge, especially for low-power devices such as mobile, wearables, or IoT.  Pattern recognition, keyword spotting, and simple diagnostics — such as real-time signal processing of complex sensor data streams for biomedical uses, robotics, or industrial monitoring — are some of the leading use cases, Dr Kaczmarek explained.  When applied to pattern recognition and classification or anomaly detection, neuromorphic computing can make decisions very quickly and efficiently,  Professor Dr Hans Hilgenkamp, Scientific Director of the MESA+ Institute at the University of Twente, agreed that pattern recognition is one of the fields where neuromorphic computing excels.  “One may also think about [for example] failure prediction in industrial or automotive applications,” he said.    The gaps creating neuromorphic opportunities Despite the recent progress, the road to establishing robust neuromorphic computing ecosystems in the Netherlands is challenging. Globalised tech supply chains and the standardisation of new technologies leave little room for hardware-level innovation.  For example, optical networks and optical chips have proven to outperform traditional systems in use today, but the tech has not been deployed globally. Deploying new hardware involves strategic coordination between the public and private sectors. The global rollout of 5G technology provides a good example of the challenges. It required telcos and governments around the world to deploy not only new antennas, but also smartphones, laptops, and a lot of hardware that could support the new standard.  On the software side, meanwhile, 5G systems had a pressing need for global standards to ensure integration, interoperability, and smooth deployment. Additionally, established telcos had to move from pure competition to strategic collaboration— an unfamiliar shift for an industry long built on siloed operations. Neuromorphic computing ecosystems face similar obstacles. The Netherlands recognises that the entire industry’s success depends on innovation in materials, devices, circuit designs, hardware architecture, algorithms, and applications.  These challenges and gaps are driving new opportunities for tech companies, startups, vendors, and partners.  Dr Kaczmarek told us that neuromorphic computing requires full-stack integration. This involves expertise that can connect novel materials and devices through circuit design and architectures to algorithms and applications. “Bringing these layers together is crucial but challenging,” he said.  On the algorithms and software side of things, developing new paradigms of programming, learning rules (beyond standard deep learning backpropagation), and software tools native to neuromorphic hardware are also priorities.  “It is crucial to make the hardware usable and efficient — co-designing hardware and algorithms because they are intimately coupled in neuromorphic systems,” said Dr Kaczmarek.  Other industries which have developed or are considering research on neuromorphic computing include healthcare (brain-computer interfaces and prosthetics), agri-food, and sustainable energy.  Neuromorphic computing modules or components can also be integrated with conventional CMOS, photonics, AI, and even quantum technologies.  Long-term opportunities in the Netherlands We asked Dr Hilgenkamp what expertise or innovations are most needed and offer the greatest opportunities for contribution and growth within this emerging ecosystem. “The long-term developments involve new materials and a lot of research, which is already taking place on an academic level,” Dr Hilgenkamp said.  He added that the idea of “materials that can learn” brings up completely new concepts in materials science that are exciting for researchers.  On the other hand, Dr Mentink pointed to the opportunity to transform our economies, which rely on processing massive amounts of data.  “Even replacing a small part of that with neuromorphic computing will lead to massive energy savings,” he said.  “Moreover, with neuromorphic computing, much more processing can be done close to where the data is produced. This is good news for situations in which data contains privacy-sensitive information.”  Concrete examples, according to Dr Mentink, also include fraud detection for credit card transactions, image analysis by robots and drones, anomaly detection of heartbeats, and processing of telecom data. “The most promising use cases are those involving huge data flows, strong demands for very fast response times, and small energy budgets,” said Dr Mentink.  As the use cases for neuromorphic computing increase, Dr Mentink expects the development of software toolchains that enable quick adoption of new neuromorphic platforms to see growth. This new sector would include services to streamline deployment. “Longer-term sustainable growth requires a concerted interdisciplinary effort across the whole computing stack to enable seamless integration of foundational discoveries to applications in new neuromorphic computing systems,” Dr Mentink said.  The bottom line The potential of neuromorphic computing has translated into billions of dollars in investment in the Netherlands and Europe, as well as in Asia and the rest of the world.  Businesses that can innovate, develop, and integrate hardware and software-level neuromorphic technologies stand to gain the most.   The potential of neuromorphic computing for greater energy efficiency and performance could ripple across industries. Energy, healthcare, robotics, AI, industrial IoT, and quantum tech all stand to benefit if they integrate the technology. And if the Dutch ecosystem takes off, the Netherlands will be in a position to lead the way. Supporting Dutch tech is a key mission of TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets are now on sale — use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Ray Fernandez Ray Fernandez is a journalist with over a decade of experience reporting on technology, finance, science, and natural resources. His work ha (show all) Ray Fernandez is a journalist with over a decade of experience reporting on technology, finance, science, and natural resources. His work has been published in Bloomberg, TechRepublic, The Sunday Mail, eSecurityPlanet, and many others. He is a contributing writer for Espacio Media Incubator, which has reporters across the US, Europe, Asia, and Latin America. Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

The Dutch startup ecosystem has slipped to 10th place globally and sixth in Europe, according to the newly released Global Startup Ecosystem Index 2025.  The annual report, compiled by research platform StartupBlink, benchmarks the startup strength of over 1,400 cities and 110 countries worldwide.  The US took the top spot globally, with the UK coming in second. Among the European nations, Britain was followed by Sweden (sixth), Germany (seventh), and France (eighth). Switzerland claimed ninth place, pushing the Netherlands down one spot.   However, it’s not all bad news for the Dutch startup ecosystem, which saw an above-average growth rate of over 26% this year.  The country’s top-performing sector was ecommerce and retail, where it ranks fifth globally and first in the EU. Prominent companies in this space include grocery delivery unicorn Picnic, designer brand marketplace Otrium, and fresh food platform Crisp. Grab that deal However, the Netherlands’ overall growth was outpaced in Europe by France, Sweden, and Switzerland — all of which grew by over 30% this year.  Amsterdam holds steady On the city scale, Amsterdam remains the undisputed engine of the Dutch tech scene. The capital rose two global spots to 26th and held firm at fifth in Europe — trailing only London, Paris, Berlin, and Stockholm. It performed best in fintech, where it now ranks 15th worldwide and third in the EU, with scaleups like neobank Bunq and payments platform Mollie playing a central role.  “A key trend we observe in the Netherlands is Amsterdam’s rapid growth, with its startup ecosystem expanding by over 30% in 2025,” Eli David Rokah, CEO at StartupBlink, told TNW. “While the city remains fifth in Europe and fourth in the EU, this strong momentum is helping it close the gap with top-tier European ecosystems like Stockholm and Berlin.”  Outside the capital, the national picture is more mixed.  While Amsterdam remains the standout Dutch ecosystem globally, four more cities in the Netherlands entered the top 1000 this year (up from 20 the previous year ). That’s the highest-ever city count in this index. Rotterdam is the big riser, overtaking Utrecht to claim the number four spot among Dutch cities. It also scored the highest growth rate in the country (over 50%) and climbed 30 positions globally in just two years.  Eindhoven, meanwhile, slipped two spots to 106th globally but posted a standout result in sustainability, ranking 10th worldwide. Supporting Dutch tech is a key mission of TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets are now on sale — use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Google DeepMind’s AI systems have taken big scientific strides in recent years — from predicting the 3D structures of almost every known protein in the universe to forecasting weather more accurately than ever before.  The UK-based lab today unveiled its latest advancement: AlphaEvolve, an AI coding agent that makes large language models (LLMs) like Gemini better at solving complex computing and mathematical problems.  AlphaEvolve is powered by the same models that it’s trying to improve. Using Gemini, the agent proposes programs — written in code — that try to solve a given problem. It runs each code snippet through automated tests that evaluate how accurate, efficient, or novel it is. AlphaEvolve keeps the top-performing code snippets and uses them as the basis for the next round of generation. Over many cycles, this process “evolves” better and better solutions. In essence, it is a self-evolving AI.   DeepMind has already used AlphaEvolve to tackle data centre energy use, design better chips, and speed up AI training. Here are five of its top feats so far.  1. It discovered new solutions to some of the world’s toughest maths problems AlphaEvolve was put to the test on over 50 open problems in maths, from combinatorics to number theory. In 20% of cases, it improved on the best-known solutions to them. The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now! One of those was the 300-year-old kissing number problem. In 11-dimensional space, AlphaEvolve discovered a new lower bound with a configuration of 593 spheres — progress that even expert mathematicians hadn’t reached.  2. It made Google’s data centres more efficient The AI agent devised a way to better manage power scheduling at Google’s data centres. That has allowed the tech giant to improve its data centre energy efficiency by 0.7% over the last year — a significant cost and energy saver given the size of its data centre operation.  3. It helped train Gemini faster AlphaEvolve improved the way matrix multiplications are split into subproblems, a core operation in training AI models like Gemini. That optimisation sped up the process by 23%, reducing Gemini’s total training time by 1%. In the world of generative AI, every percentage point can translate into cost and energy savings.  4. It co-designed part of Google’s next AI chip The agent is also using its code-writing skills to rewire things in the physical world. It rewrote a portion of an arithmetic circuit in Verilog — a language used for chip design — making it more efficient. That same logic is now being used to develop Google’s future TPU (Tensor Processing Unit), an advanced chip for machine learning.   5. It beat a legendary algorithm from 1969 For decades, Strassen’s algorithm was the gold standard for multiplying 4×4 complex matrices. AlphaEvolve found a more efficient solution — using fewer scalar multiplications. This could lead to more advanced LLMs, which rely heavily on matrix multiplication to function. According to DeepMind, these feats are just the tip of the iceberg for AlphaEvolve. The lab envisions the agent solving countless problems, from discovering new materials and drugs to streamlining business operations. AI’s evolution will be a hot topic at TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets for the event are now on sale — use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

As Europe pushes for tech sovereignty, one open-source advocate has a warning: don’t forget global cooperation. Amanda Brock, CEO of industry group OpenUK, told TNW that the EU must “get real” about the trade-offs of going it alone. Brock said tech policymakers must move beyond “tit-for-tat schoolyard politics” and instead “protect global collaboration whilst ensuring the needs of their citizens are met.”   Her comments follow a speech by Eva Maydell in Brussels yesterday, where the Bulgarian lawmaker urged Europe to “sober up” in its quest for tech independence.   The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!“We need to have a very clear outline plan which, first and foremost, assesses where our strengths are, where we have certain dependencies, and where we need to cooperate,” said Maydell. In a bid to reduce reliance on global tech giants, European institutions have been ramping up efforts to grow homegrown capabilities in areas such as AI, cloud computing, and semiconductors. These efforts have gained urgency amid rising tensions with the US and China.  However, Brock believes Europe must beware of the trade-offs of tech sovereignty. She points to open-source software, which is freely available for anyone to use, modify, and share — and inherently requires cross-border cooperation.  “Every time we hear talk of ‘sovereignty’ from the EU, in the next breath we hear ‘open-source’,” she said. “Yet these two concepts sit in direct conflict, as open-source has global collaboration at its heart.” Brock urged Europe to invest in tech infrastructure and talent to support the growth of technologies such as AI, while remaining open to the rest of the world. “No one said it would be easy,” she added. Andreas Riegler, general partner at APEX Ventures, agrees that Europe must continue to embrace global collaboration.  He warned against competing head-on with the US and China in technologies like cloud infrastructure or foundational AI models.  “Europe must resist isolationist instincts and instead integrate into global tech ecosystems where appropriate,” he said. “Not doing so risks duplication of effort, talent drain, and diminished geopolitical influence in setting global standards.” Europe’s tech sovereignty will be a hot topic at TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets for the event are now on sale — use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Five standout scaleups from the UK have made it into TECH5 — the “Champions League of Technology.”  The selections complete the UK and Ireland regional round of the tournament, which will now crown Europe’s hottest scaleup. Both Ireland and the UK had no shortage of contenders. Each nation boasts impressive digital track records. The UK is often regarded as Europe’s leading tech hub. The country has a thriving ecosystem of startups, a strong investment landscape, and a world-class talent pool.  View all speakers Last year, the country retained its position as the number one destination in Europe for tech investments, raising €17.5bn. London dominates the sector, forming a “golden triangle” with Cambridge and Oxford that powers a formidable innovation engine.  Ireland has also enjoyed a stellar run of tech success. The progress has been partly driven by low corporate tax rates, which have lured many Silicon Valley giants to its shores.  A skilled workforce, strategic location within the EU, and strong government support have also laid fertile grounds for homegrown tech firms. They range from Dublin unicorns LetsGetChecked, Workhuman, and Wayflyer, to payments giant Stripe — one of the world’s most valuable private tech firms.  This year’s TECH5 picks from the region, however, are all based in the UK. London dominates the list, providing a base for all but one of them. TNW’s judges selected the top five based on their growth, impact, and future potential. In no particular order, let’s meet them. Allica Bank Allica Bank has enjoyed a remarkable rise since launching in 2020. Last year, the fintech was Britain’s fastest-growing business, according to the Sunday Times. It also earned the top spot in Sifted’s rankings of European startups with the highest percentage revenue growth. Allica was recently highlighted by UK Chancellor Rachel Reeves as a star of the British fintech scene. Ravneet Shah, the scaleup’s Chief Technology Officer, attributes the company’s success to its distinctive approach to business banking.  “Our ambition is to empower established businesses with technology that’s user-friendly, scalable, and specifically built to handle their day-to-day financial needs,” Shah told TNW.  “We believe that this segment has long been underserved by legacy systems and processes, which were never designed with these businesses in mind. “By tailoring our services to this often-overlooked segment, we believe we can help them become more confident in managing their finances, allowing them to focus on growth, innovation, and long-term success.” PolyAI PolyAI is on a mission to create the world’s most lifelike AI voice agents. Designed for call centres, the AI agents manage customer service inquiries for companies including Volkswagen, Marriott, and MetroBank.  PolyAI says clients receive customised voice assistants in six weeks or less. The finished products promise engaging experiences that feel like talking to a real person.  CEO Nikola Mrkšić, who previously worked on Apple’s Siri voice assistant, co-founded PolyAI in 2017 with fellow University of Cambridge machine learning researchers. Last year, their company closed a $50mn (€38mn) funding round at a valuation of close to $500mn (€380mn). “We want to make people fall in love with voice assistants because [calling] is still the main way people interact with businesses,” Mrkšić told the FT. “It’s been very sticky and has stayed past a digital transformation elsewhere.”  Mrkšić envisions huge growth, predicting that up to 75% of customer interactions could be automated with AI.   Artios Pharma Artios Pharma is a pioneer of a rapidly advancing approach to cancer treatment. The company develops drugs that target DNA damage response (DDR), which cancer cells rely on to repair genetic faults and resist treatment. By targeting tumours through DDR, Artios aims to kill cancerous cells while sparing healthy ones. The technique has proved immensely promising in tests. Last month, Artios reported that its lead drug had shrunk a subset of tumours in an early-stage trial.  Investors have taken note. Artios has raised over €261 million so far, according to Bounce Watch data.  Our sole contender in the region from outside London, Artios is based in Cambridge. Founded in 2016, the company boasts impeccable credentials.CEO Niall Martin, PhD, and CSO Graeme Smith, PhD, were involved in the invention of AstraZeneca’s Lynparza, a blockbuster DDR drug that has been hailed as a “revolutionary” cancer treatment.  Zilch Zilch has introduced a new approach to Buy Now Pay Later (BNPL) purchases. The payments are interest-free and subsidised by ads, with rewards for purchases and no late fees. The company also promises to only lend what users can afford. To encourage responsible spending, Zilch provides customers with tools to keep them on top of purchases.  Founded in 2018, the London-based business has quickly grown into one of Europe’s leading scaleups. In 2021, the fintech became one of the fastest companies in the continent to reach unicorn status. Last July, Zilch announced it had also turned profitable. Over 5 million customers are registered with the scaleup. The rapid rise has earned the company multiple accolades. In the last few months, Zilch was named the fastest-growing unicorn in Britain, won “Financial Institution of the Year” at the City AM Dragon Awards, and joined Allica Bank in earning praise from Chancellor Reeves. Veremark Veremark has created a background screening platform for hiring and appraisals. The system aims to find clients the best talent — and reduce recruitment risks. The platform offers an alternative to traditional screening approaches, which are often costly and prone to being skipped.  Founded in 2019, Veremark automates and digitises these processes. The result, the scaleup says, is faster and more insightful checks that comply with regulations. As well as prospective hires, the system can screen existing staff, business partners, limited partners, and founders. The company also recently launched a blockchain-based “career passport” for candidates to manage their verified credentials. “We’re building Veremark to become the world’s most trusted platform for verifying professional integrity,” the scaleup told TNW.  “In a time where trust is more important — and more fragile — than ever, we help businesses make better people decisions by giving them confidence in who they’re hiring and working with.” What’s next for the TECH5 scaleups? The Irish and British scaleups will compete for the TECH5 title with rivals from six other regions: the Baltics, Southern Europe, France, Benelux, the Nordics, and DACH. This summer, the winner will be crowned as Europe’s hottest scaleup.  The coronation will take place at TNW Conference on June 19 and 20 — and you could be there to witness it. Tickets for the event are now on sale. Use the code TNWXMEDIA2025 at the checkout for 30% off. Story by Thomas Macaulay Managing editor Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he e (show all) Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he enjoys playing chess (badly) and the guitar (even worse). Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

A year ago this week, a viral hit offered a glimpse into the future of AI music: “BBL Drizzy.” The song emerged during the feud between Kendrick Lamar and Drake. As the rappers traded disses, a New York-based comedian named Willonius Hatcher — aka King Willonious — brought his own track to the beef. Inspired by a dubious claim that Drake had a Brazilian butt lift, “BBL Drizzy” blended AI, comedy, pop culture, and music. The song swiftly went viral. It was later sampled in a beat by star producer Metro Boomin, which also went viral, and got rapped over by Drake himself.  “BBL Drizzy” became a cultural touchstone. The Washington Post called it “a real breakthrough for AI art,” while Wired described it as “the beginning of the future of AI music.” Time magazine named Willionius one of the 100 most influential people in AI. The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Willonius — who will speak at TNW Conference on June 19 — is modest about his creation. “It was just one of those things where everything was in perfect alignment,” he says. But that’s selling his success short. Willonius has established a proven track record for creating online sensations. Here are some of his tips on striking internet gold. 1. Hone your skills Willonius had spent years honing his craft as a comedian and writer before shifting focus to AI. He’s challenged himself to write 30 scripts in 30 days, produce an album every month, and “put in my 10,000 hours” to master comedy music.  He applied that same work ethic to AI. From December 2022 to April 2023, he spent eight hours a day prompting in ChatGPT. He also experimented intensively with visual tools, creating over 30,000 images in Midjourney and generating movie trailers for his scripts. “You never know what could go viral,” he says. “All that you can do is just maintain a system and a work ethic. Even when [‘BBL Drizzy’] went viral, my whole thing was to keep working.” 2. Capture a zeitgeist Timing is a key ingredient in viral success — and “BBL Drizzy” arrived at a perfect moment. Interest in AI was surging and the Drake-Kendrick feud had captivated the public. In April, rapper Rick Ross made his own contribution to the beef, claiming that Drake’s posterior was, um, surgically enhanced. Days earlier, a team of former Google DeepMind researchers had released the beta version of a powerful new AI music generator called Udio. Willonius brought all of this together. He penned comedy lyrics that gently mocked Drake and prompted Udio to turn them into various songs. Eventually, he settled on a vintage ’70s soul sound. With a catchy title and a chorus about the alleged butt-boost, the track brought the feud into a new dimension.    “There were comedians trying to make jokes about it,” Willonius says. “But not really making any songs about that beef.” 3. Don’t just follow the crowd Willonius has always been fascinated by new forms of creativity. In 2007, he scored a viral hit on YouTube — a parody of Soulja Boy’s widely mocked yet wildly influential “Crank That.” But he was soon looking for more original paths.  Rather than follow trends, he sought new approaches. “If I would have done skits on TikTok, I would have just been doing it because everybody else was doing it,” he says. “And in my career, every time I’ve gone my own way, that’s when I’ve had the most success.” 4. Be consistent There’s no guaranteed formula for viral success. Willonius prefers to focus on the factors he can control. One of them is consistency. When he first started creating AI videos, they didn’t always bring in the views that he had expected. “It made me curb my expectations for my content — because you don’t know what’s ever going to go viral.” Instead of obsessing over every view, Willonius focused on releasing a steady stream of quality content. It eventually hit the mark. “Don’t worry about the views,” he suggests. “Just worry about the consistency and if you like what you produce. Everything else is out of your control.” 5. Embrace kaizen In his approach to consistency, Willonius applies a Japanese concept called “kaizen.” A philosophy of continuous improvement, kaizen emphasises the importance of small, incremental changes. “Every time you make art, you should make it with the intention of being better than the last time you made some art,” he says.  “Those are two things I do: stay consistent and just try to get better each time. And if I do those two things, I’m satisfied with the outcome.” 6. Quality counts One big reason for “BBL Drizzy’s” success? It’s simply a great song The catchy hook, memorable lyrics, and classic soul sound are a delight to the ear. “I think it proved that people don’t really care whether a song is AI generated or not,” Willonius says. “They just wanted to enjoy it and make them feel something. And when you heard that song, it made you laugh.” 7. Find your audience As the beef between Drake and Lamar turned ugly, “BBL Drizzy” offered welcome respite. It was a funny, light-hearted, good-natured counter to a vicious rap feud. The approach gave the track a broad appeal. “It’s a fun song — the lyrics are funny and it’s clean,” Willonius says. “Everybody across every age group, genre, and gender can enjoy it. Little children can sing it — and it’s a very singable song.” 8. Keep an eye on the future Pop culture and technology both move fast. Willonius follows each of them closely, keeping an eye out for emerging trends. He’s particularly excited about the creative possibilities of AI video. “We’re at the point now where anybody could make an AI feature film if they wanted to… The models are getting better,” he says. “They’re looking more realistic, more life-like.” A big upside, he says, is the democratising effect. For creators from marginalised backgrounds and those with limited resources, AI can open new doors to success. “It’s an exciting time to be a creator,” he says. “And it’s an exciting time for AI, because it’s getting better and better.” There’s still no magic formula for viral hits. But AI can give creators new tricks up their sleeves. If you want to catch King Willonius’ talk or anything else on the packed agenda for TNW Conference, we have a special offer for you. Use the code TNWXMEDIA2025 at the checkout to get 30% off your ticket. Story by Thomas Macaulay Managing editor Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he e (show all) Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he enjoys playing chess (badly) and the guitar (even worse). Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Britain requires a “colossal” overhaul of its cybersecurity systems to defend against future quantum computers, the UK’s National Cyber Security Centre (NCSC) warned this week.  Speaking at the CYBERUK conference in Manchester, the body’s CTO Ollie Whitehouse urged organisations to start preparing now for a sweeping transformation in how digital security is built and maintained — warning of grave consequences if they don’t.   Quantum computers, once they reach a certain power threshold, could render current encryption methods obsolete. They could break security protocols that protect everything from financial transactions and medical records to military communications.  A critical part of preparing for this future is adopting post-quantum cryptography (PQC), Whitehouse said. PQC aims to defend against potential cyberattacks from quantum computers. It involves designing new encryption algorithms based on mathematical problems that are hard for both classical and quantum computers to solve. These algorithms are then integrated into existing systems to replace vulnerable encryption methods.  View all speakers Whitehouse stressed, though, that the move to PQC won’t just be a software upgrade. It will require a “decade-long, national-scale technology change programme to uplift the foundations of our connected systems,” he said. In March, the NCSC published guidance setting out clear timelines for the UK’s migration to PQC. It advised organisations to complete migration to PQC of all their systems, services, and products by 2035. The race to secure systems against quantum threats Across the world, governments are scrambling to prepare themselves for a world occupied by powerful quantum machines. Last year, the US National Institute of Standards and Technology (NIST) released several algorithms believed to be secure from quantum hacking.  There is also a cohort of tech startups that have emerged to help organisations get ready. One of them is UK-based PQShield, which raised $37mn last year for its software and hardware-based PQC solutions. It’s still uncertain, however, whether PQC will withstand future quantum attacks, as no one knows how powerful the machines will ultimately become. That’s why other companies and governments are exploring Quantum Key Distribution (QKD), which uses quantum mechanics to securely transmit encryption keys as particles of light. These photons carry qubits — the basic units of quantum information. Crucially, it is impossible to “listen in” on a QKD message without disturbing the quantum states. It would instantly alert both parties to eavesdropping. This makes the technology “untappable.” For the NCSC, however, the primary safeguard against quantum threats, at least for now, is migrating to PQC. Whitehouse described it as “a complex change programme that makes fixing the Millennium Bug look easy,” a nod to the massive efforts in the late 1990s to update computer systems unable to handle dates past 1999. The future of tech is a key theme of TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets for the event are now on sale — use the code TNWXMEDIA2025 at the checkout to get 30%. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

The Danish Armed Forces are set to trial four autonomous sea drones that will patrol Northern Europe waters, looking for signs of criminal activity.  Powered by wind and solar, the uncrewed surface vehicles (USVs) will gather real-time data using sensors and cameras positioned both above and beneath the water. An onboard computer will stream this data to a machine learning algorithm that is trained to spot patterns and potential threats. The technology is designed to help the Danish defence forces identify threats such as enemy submarines, illegal fishing, drug smuggling, or tampering with undersea cables. The drones will also perform deep-sea mapping to give authorities a clearer perspective of the ocean floor and underwater infrastructure, such as communication cables, pipelines, and offshore energy platforms.  Surveillance of this kind has become increasingly urgent since the 2022 Nord Stream pipeline sabotage, which exposed the vulnerability of underwater assets to covert attacks. Denmark is also stepping up its maritime defences in the Baltic Sea amid growing concerns over Russian aggression. View all speakers The robotic sailboats are made and operated by Saildrone, a US-based tech firm founded by British engineer Richard Jenkins in 2012. In its early days, Saildrone mainly focused on climate and weather surveying. But now the vast majority of its 140-strong fleet is deployed for defence and security purposes.  “The Baltic, North Sea, and European Arctic waters are currently facing unprecedented threats,” said Jenkins. “We are very excited to be partnering with the Danish armed forces to deploy Saildrone systems to help protect Europe’s critical undersea infrastructure and increase regional security.” Denmark’s army will begin testing the four vessels in June, as part of a broader effort to beef up its high-tech defences, including deploying mine-hunting underwater drones and uncrewed surveillance aircraft.  Last month, the Nordic country announced a $614mn spending package. It will use the money to procure 26 new naval vessels, more drones, and sonar equipment in response to emerging maritime threats — particularly from Russia.  Last month, the company set up a Danish subsidiary in Copenhagen, which it hopes will bring the technology closer to key defence markets including the UK, France, and Germany. Defence tech is a key theme of the Assembly, the invite-only policy track of TNW Conference. The event takes place in Amsterdam on June 19 — a week before the NATO Summit arrives in the city. Tickets for TNW Conference are now on sale — use the code TNWXMEDIA2025 at the checkout to grab an exclusive discount. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with