London-based insurtech startup Laka has raised $10.4mn in Series B funding as it eyes profitability at the end of next year. Laka offers “collective” insurance for bikes and e-scooters, pooling claims across a community of riders. Instead of fixed, upfront premiums, customers pay a variable monthly fee based on the total number of claims across the entire user base. The fee is capped at a maximum amount based on the value of their gear. Fewer claims mean lower costs for everyone.   Laka provides the insurance cover both directly and through retailers like Decathlon, Brompton Bikes, Gazelle, and Ribble Bikes.  Tobias…

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Funding focus is a new series analysing cash flow into the European tech ecosystem. Last week, we looked at the largest investment rounds in the Netherlands, and now we’re honing in on Europe’s budding fusion energy sector.  European fusion energy startups raised a record €290mn in the first half of this year as VCs bet big on a technology with the potential to supply virtually limitless clean power. Funding in 2025 has already eclipsed 2024 levels — the previous record year — which saw fusion energy companies raise €185mn, according to Dealroom data. Leading the pack this year was Munich-based…

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New research has found that large language models (LLMs) such as ChatGPT consistently advise women to ask for lower salaries than men, even when both have identical qualifications. The study was co-authored by Ivan Yamshchikov, a professor of AI and robotics at the Technical University of Würzburg-Schweinfurt (THWS) in Germany. Yamshchikov, who is also the founder of Pleias, a French–German startup building ethically trained language models for regulated industries, worked with his team to test five popular LLMs, including ChatGPT. They prompted each model with user profiles that differed only by gender but included the same education, experience, and job role.…

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A new report from the University of Cambridge has warned that the UK’s push to lead in AI risks derailing its climate targets — unless urgent action is taken. According to the University’s Minderoo Centre for Technology and Democracy, the unchecked growth of AI could drive a 25-fold increase in the global tech sector’s energy use by 2040, putting massive strain on power grids and accelerating carbon emissions.  Even the most conservative scenario suggests a five-fold rise over the next 15 years. The report’s authors argue it’s “magical thinking at the highest levels” to assume countries such as the UK…

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The UK government reportedly plans to invest €163mn in French satellite firm Eutelsat as Europe pushes to back a local alternative to Elon Musk’s Starlink. The investment, first reported by Reuters, follows the lead of the French state, which is set to inject €717mn into Eutelsat as part of a €1.35bn funding package to prop up the indebted satellite communications provider. The UK contribution would bring Eutelsat’s recapitalisation to around €1.5bn.  French President Emmanuel Macron thanked his “British friends” for the support in a post on X, without disclosing the deal’s value.  Eutelsat has received significant attention this year, as…

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