The week in London technology, read and picked by hand. No algorithm, nothing in here because someone paid for it.
Tuesday · · 5 minute read
British startup Emulate, founded one month ago by former DeepMind researchers, is in advanced talks to raise up to $700 million. The company develops AI world models that simulate physical environments and is seeking a $3.7 billion post-money valuation.
Reported by StrictlyVC, 18 September
ElevenLabs, a four-year-old London startup, is reportedly in the market to raise a $500 million Series E round. The company develops synthetic voices and tools for dubbing, conversational agents and audio production. Scaleup Europe Fund is named as a potential investor.
Reported by StrictlyVC, 19 September
Tandem Health raised $100 million in Series B funding on 14 September 2026. The investment was led by the Scaleup Europe Fund, managed by EQT, and is the fund's first in healthcare.
The company plans to expand its AI Medical Assistant into an AI-native Clinic Operating System and double down across European markets. It supports 10,000 care organisations in 14 European countries, and its AI solutions include three Class IIa medical devices certified under EU Medical Device Regulation.
Reported by Tech.eu, 21 September
Gavin Uberti, cofounder and CEO of AI chip startup Etched, said the current compute shortage is bad, but the least short it will ever be, pointing to exploding costs for raw materials, memory and circuit boards.
Reported by Sifted, 18 September
Google will invest €13bn across four data centre sites in Finland during 2027 and 2028, expanding its Hamina campus and building in Kajaani, Vaala and Muhos. It is Google's largest single investment in Europe to date.
Reported by Scaling Europe, 21 September
Hacktron AI researchers used Claude to exploit vulnerabilities, gaining access to an OpenAI employee's ChatGPT account and parts of OpenAI's code repositories. They reported the findings through OpenAI's bug bounty programme and received $6,500.
Reported by MTS, 19 September
An updated analysis of how SAFE note discounts and valuation caps convert, and what that does to founder ownership. It finds 20% is the most common discount, and includes a cap table template for modelling scenarios.
Reported by The VC Corner, 17 September
Lots to get our teeth into this week.
"Security researchers use Claude to access OpenAI systems" has to be the standout one for me. There is still very little in the way of startups with a primary focus on cybersecurity in the AI space.
It's a perpetual market that won't be going anywhere: every advance in the technology will lead to the need for an opposing force to lock down systems. No, I'm not pitching for investment, but this has to be an opportunity for someone.
