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a structural issue In Germany, two thirds of hospitals are operating at a loss. From 2027, the GKV Contribution Rate Stabilization Act (GKV-Beitragssatzstabilisierungsgesetz) will put further strain on this over-stretched system. It ties audit rates to the quality of hospital invoices: where objections are frequent, insurers may audit up to 100% of invoices, from a previous cap of 15%. This is where Munich-based calliora comes in: their AI-driven platform sits on top of existing hospital...

Oct 15, 2026

calliora: building the AI operating layer for hospital economics

This month, we led Arlequin AI's €28M Series A, Basecamp Research raised a $140M Series C, Mistral closed the largest equity round ever raised by a European tech company, we celebrated two new Partners from within our own ranks, shared a 6 month update to our European Dynamism report at Sifted Summit, and more! Read on for all our news and highlights... portfolio funding redalpine leads Arlequin AI's €28M Series A to make hidden threats visible Terrorist networks, money-laundering operations...

Oct 2, 2026

welcome to our september newsletter

Constructive over three months, watchful beyond. How we read the current environment across markets, valuations, funding conditions and exits, and why we believe now is a good time to invest in European technology. A two-sided market, not a one-sided bubble The current market is unusual. Equities are near record levels, credit spreads remain tight and volatility is low. At the same time, the 30-year US Treasury yield has moved above 5%, its highest level since 2007 (Source: US Treasury /...

Sep 29, 2026

A market that punishes narrative and rewards fundamentals: our current market view

the blind spot at the heart of modern intelligence The most consequential threats do not announce themselves. Terrorist networks, money-laundering operations, and disinformation campaigns do not reside in individual documents or transactions. They emerge from the hidden structural patterns between them: the topology of a coordination network, the spreading shape of an influence campaign, the closed loop of a financial layering scheme designed to be invisible at every individual step. Today's...

Sep 10, 2026

Arlequin AI: a new AI architecture to tackle Europe’s most pressing threats

It's the last month of summer and we're already gearing up for fall! But before we officially kick off the busy season, we have the latest updates from redalpine and our portfolio, including our investment in Cambridge Aerospace, media features in Bilanz, and a busy few days at TechBBQ in Copenhagen. Read on for all this and more! portfolio funding redalpine backs Cambridge Aerospace's $300M Series C to strengthen European air defense Cheap drones are now a defining feature of modern...

Sep 2, 2026

welcome to our august newsletter

This July, Proxima Fusion closed a landmark €411M round, microagi raised the largest seed ever by a German startup, and we led telli's $15M round to reinvent customer operations with AI voice agents. Read on for these updates and more! portfolio funding Proxima Fusion raises €411M, becoming Europe's best-funded fusion company In 2024, redalpine led Proxima Fusion's (RAC VII) seed round after Harald and Gianmarco built a close relationship with the founding team, convinced that their...

Aug 3, 2026

welcome to our july newsletter

the conversation gap For the last 20 years, the way consumers interact with businesses has not changed much. Most communication still happens through calls, emails, SMS, forms, or WhatsApp messages. Companies have adapted to these channels, but behind the scenes most still run on the same stack of CRMs, call centers, tickets, queues, dashboards, and manual operational work, creating friction for both teams and customers. That world is starting to change. Consumers are beginning to use AI...

Jul 30, 2026

telli: the AI voice platform for B2C revenue teams

Some notes on robotics, on why deployment is a harder problem than it looks, and on why we invested in microagi's $55 million seed round. the microagi team We try to be skeptical of robotics demonstrations. It's easy to watch a humanoid robot fold a shirt or sort a bin and conclude that the factory of the future has arrived. But visit an actual factory and the robots are almost never there. Working through why is most of why we ended up investing in microagi's seed round, led by Hummingbird,...

Jul 20, 2026

Why we invested in microagi

Despite the heat, our portfolio and team was extra productive in June! This month, we celebrated Memo Therapeutics' exit to Ipsen Global, co-led Tokura's seed round to modernize outpatient surgery, held multiple events during SuperReturn, and took the redalpine European Dynamism roundtable series to Zurich and Stockholm. Read on for these updates and more. portfolio funding redalpine co-leads Tokura's seed round to modernize surgery in Germany Tokura (RAC VIII) is building the operational...

Jul 1, 2026

welcome to our june newsletter

a gap at the heart of molecular science For decades, molecular science has operated with two fundamental data classes. Sequences tell us what a molecule is. Structures show us what a molecule looks like. These two layers have driven enormous progress, from genomics to structural biology, and underpinned much of modern drug discovery and materials design. But there is a third layer that has remained largely elusive: States. How a molecule or material actually behaves under real-world...

Jun 24, 2026

Apoha: unlocking the missing data class of molecular science

a system under pressure Germany has one of the most expensive healthcare systems in the world, and yet patients wait far too long for routine procedures. The structural reason is straightforward: 63% of all surgeries in Germany still happen inpatient, roughly twice the rate of comparable countries like the US, the Netherlands, and Denmark. That means 16.5 million surgeries a year are performed in hospitals where patients stay overnight, at significantly higher cost and with longer waiting...

Jun 24, 2026

Tokura: building the infrastructure for ambulatory surgery in Germany

This month, we announce our investment in Nscale, celebrate Apoha's $36M funding round, share news from Klarna, Mistral, and Dunia, and look back at key events including Deep Tech Momentum, GLOBSEC, and SECA. Read on for these updates and more! portfolio funding apoha announces $36M funding to build liquid state intelligence Apoha has emerged from stealth with a $36M funding round led by Singular, with Draper Associates participating. We've backed Apoha from the very beginning and are proud...

Jun 3, 2026

welcome to our may newsletter

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