Seedcamp

Seedcamp raises $320M fund to expand U.S. footprint

Seedcamp has raised $320 million for its largest fund to date and will expand its presence in the United States. The total is split between a $220 million vehicle (Seedcamp VII) for early-stage investments and a new $100 million growth fund called Select for follow-on investments. Seedcamp plans to scale its U.S. team from existing New York City and Miami offices to better connect European portfolio companies with U.S. customers and investors. The firm intends to write roughly $1 million initial checks into about 100–120 startups from Seedcamp VII and $3–5 million follow-on checks from Select in Series B and later rounds. Reshma Sohoni, Seedcamp co-founder and managing partner, said the firm will remain sector-agnostic but avoid capital-intensive models. LPs named include British Business Bank, HarborVest, Schroders and Sofina, alongside participation from around 80 portfolio founders.

AI chip startups draw record funding amid Nvidia lead

Startups building AI inference chips attracted record investor interest in 2026 as companies seek alternatives to Nvidia’s GPU-dominated stack. Dealroom estimates AI chip startups raised $8.3 billion globally in 2026 so far. Investors argue GPUs were not purpose-built for inference and that new architectures can cut energy and cost at scale. Large rounds cited include Cerebras Systems ($1 billion) and multiple $500 million rounds for MatX, Ayar Labs and Etched; European raises include Axelera and Olix (each north of $200 million). Nvidia continues to invest and consolidate its position — buying Groq assets, backing photonics firms and spending heavily on R&D — while major AI users and foundries report expansion and strong demand for AI compute.

European AI chip startups seek nine‑figure funding

European startups building alternatives to Nvidia GPUs for AI inference are pursuing large funding rounds as demand for efficient inference grows. Dutch Euclyd, founded in 2024 and backed by former ASML executives, is in talks for at least a €100 million round, founder Bernardo Kastrup told CNBC. Other European firms — including the U.K.’s Optalysys, Fractile and France’s Arago — are reportedly targeting nine‑figure raises, while investors have put over $200 million into Netherlands’ Axelera and the U.K.’s Olix so far in 2026. Startups claim novel architectures (e.g., photonic processors, multi‑chiplet systems, in‑memory or distributed processing) can deliver substantially higher power efficiency for inference versus current GPU generations. Challenges cited include long chip development cycles, fragmented European foundry and procurement ecosystems, and funding gaps versus U.S. competitors. Nvidia continues heavy investment in R&D and recent acquisitions and investments to support inference and photonics work.