Norwegian investment firm joins AI gold rush to the frozen north

Jul16
by on July 16, 2025 at 5:10 pm
Posted In: Uncategorized


Norwegian industrial investment firm Aker has announced plans to build an AI “factory” in the Arctic. It’s the latest company heading to the far north to tap into abundant green energy and natural cooling for power-hungry data centres.  The facility will be located in the Norwegian coastal town of Narvik, which lies 220km within the Arctic Circle. Aker’s president and CEO, Øyvind Eriksen said that the site already had access to 230MW of power and was ready for construction to commence. He added that discussions with potential tech firms and partners for the project were ongoing.  However, Eriksen provided limited details…

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ESA spaceplane project revives bankrupt firm’s hypersonic engine

Jul16
by on July 16, 2025 at 4:57 pm
Posted In: Uncategorized


A bankrupt company’s propulsion system for hypersonic planes is being revived by Invictus, a new European Space Agency (ESA)-backed project aiming to build and fly a hydrogen-powered spaceplane by 2031.  The proposed engine for the plane is based on so-called pre-cooler technology, developed over decades by UK aerospace firm Reaction Engines, which went bust in November.  Many of Reaction Engines’ top engineers found a new home at British aerospace and defence company Frazer-Nash Consultancy, which is now leading the Invictus consortium. Other members of the group include US aircraft maker Spirit AeroSystems and Britain’s Cranfield University.  Invictus aims to develop…

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How WeTransfer reignited fears about training AI on user data

Jul16
by on July 16, 2025 at 12:35 pm
Posted In: Uncategorized


Dutch file-sharing service WeTransfer is under fire after users spotted sweeping updates to its terms of service that appeared to let the company train AI models on their uploaded files. The company has now removed the controversial language, but users remain outraged. Here’s what’s going on — and why it matters. What did WeTransfer change? WeTransfer users discovered this week that the service had updated its policy with a clause granting it a perpetual, royalty‑free license to use user‑uploaded content, including for “improving machine learning models that enhance content moderation.” The changes were due to come into effect on August…

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Exclusive: Investors bet $10M that Laka’s ‘collective insurance’ can fix bike coverage

Jul15
by on July 15, 2025 at 6:00 am
Posted In: Uncategorized


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: Fusion startups shatter investment records in push for clean energy

Jul14
by on July 14, 2025 at 12:29 pm
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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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