Arne Tonning 🤙🚀

Ericsson, AstraZeneca, Saab, SEB and Wallenberg Investments AB have launched Sferical AI.   With that the AI factory consortium is put in place that was announced earlier this year to to develop, deliver and operate advanced AI solutions.   This will strengthen the Swedish industry’s competitiveness through world-class AI capabilities, built on a sovereign, secure, and integrated infrastructure. 👉 Learn more about Sferical AI and the launch initiative: https://lnkd.in/emu4bfg8   #AI #SfericalAI #technologyleadership Alina Claire Ostenda Stefan Growe John Zijlmans Marwan Matta Katrin Bachert Sabine Raetzer Olaf Reus Bernd Mellinghaus Joe Wilke Jan-Peter Meyer-Kahlen Daniela Schneider Frank Augustin Gunter Van Beneden Matthias Hoffbauer Mustapha Mikati Peter Stark Rebecca Little Moritz Zumpfort Jan Thünnesen 

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Stockholm-based Lovable today announced that it has surpassed $100 million (€85 million) in ARR in just eight months – making it the fastest software company to do so of all time, faster than OpenAI, Cursor, and Wiz 🇸🇪 🚀 Last week, Lovable announced it had closed a €170 million Series A led by Accel, with participation from existing investors including 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. The round valued Lovable at €1.5 billion and marked one of the largest Series A rounds ever raised by a European company. Anton Osika, CEO and Co-founder of Lovable, comments, “The biggest barrier to building businesses is coding. 99% of people have great ideas and can execute on a business, but they don’t know how to write code. Lovable means anyone can go from idea to software in minutes. Despite our rapid growth, we are still just beginning to understand what this means for people and businesses around the world. AI is unlocking the potential for people to build easily, create new companies at an unprecedented rate, and have a positive impact on the world.” https://lnkd.in/dimyzT8t

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🛰️ Leveraging the “boring and neutral”: 🇫🇮 Finnish satellite startup ReOrbit has just raised €45 million! The company is making great progress operating in the strategic autonomy sector. ReOrbit manufactures its own satellites and software to manage them, offering clients — mainly nation states — full ownership and control. Unlike another Finnish spacetech company, the rumoured unicorn ICEYE, ReOrbit's satellites are larger and can be used not just for imaging, but also for all sorts of communications purposes. The company offers both geostationary orbit and low-earth orbit satellites.  ReOrbit counts its Nordic roots as a significant benefit amidst the geopolitical tensions of today. Its founder and CEO Sethu Saveda Suvanam told Sifted: “We were very clear that all of this money that we raised had to come from the Nordics.” Lauri Kokkila from Inventure elaborated on this theme in his LinkedIn post: “In today’s increasingly unstable world, Europe and especially the Nordics and Baltics have gained an unexpected edge: being boring and neutral. As highlighted in recent articles, ReOrbit benefits greatly from being based in a neutral country. This [is] an advantage that would have seemed irrelevant just five years ago. Yet another reason for optimism in Europe. 🌍” In the meantime, the European spacetech industry's growth momentum is somewhat uncertain. After the outlier 2021 with $2.4 billion in total funding (largely propelled by Eutelsat OneWeb) followed by a significantly more modest $699 million in 2022, the sector has been steadily adding some $300 million to the funding it attracts every year. However, it doesn't seem to be on track to continue the same trajectory in 2025 👇

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