Rezonant and the new AI software bottleneck

Transition Ventures transitions to a new world

Transition Ventures' second fund has closed at over $150M, bringing AUM to $300M. David Helgason, founding CEO of Unity Software (NYSE: U), spent two decades giving developers the tools to build virtual worlds. Now, with Transition, he's backing the founders building the physical one. He spoke to Pathfounders Editor Mike Butcher about its pivot towards rarified areas such as photonics and even small modular reactors.

Is preventative health the next big startup trend?

Europe’s healthcare systems are still focused on sickness, not prevention, even as its population become more interested in the latter. That’s the bet of Lucis, the Paris-based preventive health startup that has just raised a $20 million Series A round led by Singular Ventures. Its playbook includes biomarker testing, longitudinal data and an AI health companion. In this interview with Pathfounders editor Mike Butcher, Lucis co-founder and CEO Max Berthelot, says they plan to use the funding expand across Europe. And recounts the first time they met…

CircuitHub aims to accelerate electronics manufacturing to software speed

Electronics manufacturing has failed to keep up with the speed of hardware design. Now, CircuitHub allows engineers to upload circuit board designs, get an instant quote and have finished printed circuit boards delivered in days. It means a huge acceleration for EVs, drones, or even defence systems. CEO and founder Andrew Seddon spoke to Pathfounders’ Mike Butcher about their recent $28 million VC funding round.

As Mistral acquires Emmi, Europe’s AI race moves into physics and industry

Mistral’s acquisition of Austrian startup Emmi AI marks a shift in Europe’s AI story, away from chatbots and into the industrial systems that underpin advanced manufacturing. Emmi builds AI models that can make engineering simulations run in seconds rather than days. Guillaume Decugis, General Partner of Serena Data Ventures, an early investor, told Pathfounders the deal was driven by commercial traction and strategic fit. For Mistral, best known as Europe’s leading LLM company, Emmi adds a vertical AI asset in the “language of physics,” hinting at where the next battleground in AI may lie.Mistral’s acquisition of Austrian startup Emmi AI marks a shift in Europe’s AI story, away from chatbots and into the industrial systems that underpin advanced manufacturing. Emmi builds AI models that can make engineering simulations run in seconds rather than days. Guillaume Decugis, General Partner of Serena Data Ventures, an early investor, told Pathfounders the deal was driven by commercial traction and strategic fit. For Mistral, best known as Europe’s leading LLM company, Emmi adds a vertical AI asset in the “language of physics,” hinting at where the next battleground in AI may lie.

Mouro Capital says fintech is about to change

Mouro Capital has hit a $400 million first close for its third fund, backed by Banco Santander, taking total commitments to more than $1 billion. In this episode, Manuel Silva Martínez, General Partner at Mouro Capital, joins Pathfounders to unpack why the firm is moving beyond the old “fintech” label and investing at the broader intersection of financial services, AI, regulation and infrastructure.Mouro Capital has hit a $400 million first close for its third fund, backed by Banco Santander, taking total commitments to more than $1 billion. In this episode, Manuel Silva Martínez, General Partner at Mouro Capital, joins Pathfounders to unpack why the firm is moving beyond the old “fintech” label and investing at the broader intersection of financial services, AI, regulation and infrastructure.