German drone maker Quantum Systems has raised €160mn at a valuation north of €1bn, becoming Europe’s latest defence tech unicorn.   Quantum Systems builds electric, AI-powered autonomous surveillance drones that are dual-use, meaning they can serve both military and civil purposes.   Defence forces can use the unmanned aerial vehicles (UAVs) to spy on enemies and gather intel. The drones can also be used by farmers to inspect their crops, by energy companies to check power lines, and by search and rescue teams to look for survivors.   Florian Seibel, co-CEO and co-founder of Quantum Systems, said the company was ready to become…

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US food delivery giant DoorDash has acquired British rival Deliveroo in a £2.9bn ($3.9bn) deal, ending the UK business’ rocky tenure as a public company.  The all-cash offer, priced at £1.80 ($2.40) per share, represents a 77% premium over Deliveroo’s recent trading price. However, the acquisition price is less than half its 2021 IPO valuation of £7.6bn. Deliveroo’s board unanimously backed the deal. CEO and co-founder Will Shu, who owns 6.4% of the company, is set to pocket £172mn.  The merger will expand DoorDash’s footprint in Europe, where it has lagged behind competitors like Uber Eats and Just Eat. Deliveroo’s…

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Latvian startup Origin Robotics today launched BLAZE, an autonomous interceptor drone designed to destroy enemy drones by ramming into them or blowing them up. BLAZE is deployable on the battlefield in less than a minute. It comes in a small briefcase which doubles as a launchpad and charging dock.  Powered by computer vision, BLAZE has been trained to spot the difference between different aircraft types and distinguish them from other objects, such as birds. It combines this system with traditional radar to track aerial targets with high precision.      Once it locks onto an enemy unmanned aerial vehicle (UAV),…

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Five standout scaleups from the Baltics have made it into TECH5 — the “Champions League of Technology.”  Representing Estonia, Lithuania, and Latvia, the quintet will now challenge rivals from six other regions for the title of Europe’s hottest scaleup. To earn their place in TECH5, the Baltic contenders have already had to fend off stiff competition. For a combined population of just over six million, the region is the birthplace of a remarkable range of innovations, startups, and scaleups. Collectively, the three states are renowned for strong digital infrastructure, tech-savvy populations, global mindsets, and government policies that support innovation. Individually,…

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Spain and Portugal have largely restored power after Monday’s unprecedented blackout — the worst in recent European history. The fallout has put the region’s reliance on renewables under fire. Santiago Abascal, leader of Spain’s far-right Vox party, even called on the country to abandon “climate fanaticism” in response to the power cut. Yet, experts stressed to TNW that the problem isn’t green energy, but the outdated grid infrastructure and technology it relies upon.  “What’s happened this week should serve as a stark reminder of the dangers of failing to invest in a more resilient energy grid,” Amsterdam-based Taco Engelaar, managing…

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