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AI & Enterprise
Dunamu & Partners joins seed round for UK AI inference optimisation startup Callosum
Dunamu & Partners, the investment arm of Dunamu, said on Monday it invested $5 million in a funding round by UK AI inference optimisation company Callosum. The round totalled $100 million and was led by European venture capital firm Atomico, with participation from Plural, DCVC and the UK government’s UK Sovereign AI fund. Callosum was founded in 2024 by former Cambridge University neuroscientists Danyal Akarca and Jascha Achterberg.
Technology
European startups that once chose the U.S. now skip Silicon Valley
European tech startups are increasingly staying in Europe rather than moving to Silicon Valley, as AI adoption, improved access to capital and the ecosystem effects of success stories such as Spotify and Klarna reshape the market. Swedish startups cite customer wins and higher valuations, while investors and executives describe a broader structural shift. Late-stage funding remains a challenge, but AI is seen as helping firms scale faster with less capital. Talent flows and competing views on Silicon Valley persist.
Crypto
OpenFX raises $94 million for stablecoin-based FX expansion
OpenFX, a startup offering stablecoin-based foreign exchange market-making and remittances, has raised $94 million in funding. Reuters reported the round was led by Accel, Atomico, Lightspeed Faction, M13, Northzone and Pantera, valuing OpenFX at about $500 million. Founded in 2024, the company links legacy banking systems with digital infrastructure using stablecoins to support real-time FX, and plans to expand into Southeast Asia and Latin America.
