Data & AI Report – Trends from January 2025

February 17, 2025

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Welcome back! Our previous Data & AI report highlighted significant AI advancements, and our January round-up is no different. 

AI continues to evolve at a rapid pace, with new developments emerging constantly. We’ve compiled the top stories from January below – take a look 👇   

🤖 DeepSeek vs OpenAI 🤖

The AI landscape saw a major shake-up this January! 

Chinese startup DeepSeek launched its AI chatbot, quickly soaring to the top as the highest-rated free app in the U.S., surpassing ChatGPT for the number one spot. 

What followed, however, has turned into a full-fledged battle of the bots. OpenAI, along with U.S. government officials, has accused DeepSeek of replicating responses from its models, alleging that this allowed the company to develop its chatbot at a fraction of the cost.

Yet, no concrete evidence has been presented. We’ll be watching closely to see how this unfolds! 

💻💄L’Oréal & AI – a merging of two worlds 💄💻

January marked an unexpected fusion of beauty and AI. L’Oréal announced a partnership with IBM’s GenAI technology to revolutionize its innovation and development process. 

With a focus on sustainability and product quality, the custom AI model will be built on a vast database of cosmetic formulas. This will streamline new product creation, enhance existing ones, and accelerate crucial tasks. 

If successful, L’Oréal and IBM could lead a broader industry shift, demonstrating AI’s transformative power even in unexpected sectors. 

Check out more on IBM’s website here.

🚫 Alterya & Chainalysis on the fight against scammers  🚫

The AI-powered fraud detection solution, Alterya, identifies scammers before they can act. They already work with top cryptocurrency exchanges & fintech’s, currently monitoring more than $8 billion in transactions per month. 

The acquisition means Chainalysis can double down on their strategy to invest in the prevention of fraudulent transactions. Integrating Alterya technology with the Chainalysis blockchain data platform will strengthen their effectiveness, creating network effects across blockchains and digital payment systems while enhancing Alterya’s capability to identify fraudulent activity. 

This could be a powerful acquisition to continue fighting scammers! 

Read more via Chainalysis here. 

🧠 Human AI data “exhausted” says Musk 🧠

Elon Musk has claimed that AI companies have run out of data for training their models. Human knowledge has been exhausted. 

What does this mean for the building of new systems? 

Well, AI firms are going to have to look toward synthetic data (that created by AI models) if they want to further develop their models. This isn’t all that new, though. Some of the giants including Meta, Microsoft & Google have already used synthetic data in their developments. 

As the developments progress, as does the skepticism around the ethics of AI. OpenAI openly admits that it would be impossible to create tools without access to copyrighted material, which is presenting challenges from the creative & publishing worlds. 

How this unfolds is something we’ll be keeping an eye on! 

Conclusion 

That’s it for this month’s Data & AI Report. From industry shake-ups to groundbreaking partnerships and ambitious national strategies, AI continues to redefine what’s possible. Whether it’s a battle for dominance in the chatbot space, beauty brands embracing AI-driven innovation, or how AI is going to gather data, one thing is clear—this technology is moving fast, and the stakes are higher than ever. 

As sustainability, ethics, and innovation collide, the coming months will be crucial in shaping the future of AI. Who will lead, who will adapt, and who will be left behind? We’ll be watching closely. Stay tuned! 🚀 

January Tech Funding Roundup: a strong start!

February 3, 2025

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Welcome back! 

The first month of 2025 is in the books, and the tech funding landscape is off to a strong start with 18 investment rounds across the sector! 

We’ve highlighted some of the most exciting funding rounds, offering a glimpse into what’s ahead this year. Take a look 👇 

💻 Workwize secures an impressive €12.6 million 💻

Big news for Amsterdam-based Workwize, as Klass Capital leads a major investment round to help scale their platform for managing office equipment for remote teams. 

With a client list that already includes Adyen & HelloFresh, this funding will accelerate their plans – including a U.S. expansion in 2025! 

📲 €6 million to power Klearly’s in-person payment revolution 📲

Klearly is transforming smartphones into card terminals—a game-changer for small businesses! 

Backed by Global PayTech Ventures, alongside Antler, Elevate, and Shapers, this €6M seed round will fuel their growth into new European markets. 

🥸 Ver.iD raises €2 million to enhance ID verification 🥸

Ver.iD’s SaaS platform is simplifying ID verification, reducing fraud risks, and streamlining onboarding. 

With €2M in angel funding, they’re set to expand across Europe and continue improving security in the verification space.

🍃 Leafcloud gains backing for sustainable cloud computing 🍃

The Sharing Group has acquired a minority stake in Leafcloud, aligning with their mission to drive positive environmental change. 

With this strategic partnership, Leafcloud is well-positioned to scale its eco-friendly cloud services while pushing sustainability forward! 

Conclusion  

With a strong start to 2025, these funding rounds signal an exciting year ahead for the tech industry. As these startups scale and expand into new markets, we’ll be keeping an eye on their progress—and on what’s next in the world of tech funding. Stay tuned for more updates! 🚀 

Trump, Power & the EU Tech Scene

January 29, 2025

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History has repeated itself & Trump is back in…

Trump has made a return to power, and the front row of his inauguration featured some of the most influential figures in big tech. But what does this mean for the European tech scene? 

His previous presidency had a significant impact on Europe’s tech landscape, and we might witness similar trends this time around. 

What happened last time?

During his last term, trade disputes—particularly with China—disrupted global supply chains. As a result, EU tech firms reliant on transatlantic partnerships faced higher import costs, logistical delays, and stricter compliance requirements. These challenges made it increasingly difficult to meet US market demands. 

Could history repeat itself, this time with even greater complications due to Trump’s “America First” agenda? We might see policies designed to further restrict European tech companies from entering the US market, including import limitations, regulatory barriers, and challenges in key sectors such as AI and 5G, where competition is fierce. 

Taking another look at the front row of Trump’s inauguration—could this signal future challenges for European tech firms? Speculation suggests that government support for US tech giants could intensify, potentially widening the competitive gap between American and European companies. With possible tax breaks, increased federal spending on companies like Microsoft and Amazon, and a more relaxed regulatory stance, efforts to level the playing field through existing regulations may be hindered. 

However, it’s not all doom and gloom.

Trump’s presidency could also present opportunities for the European tech scene. 

If the US market becomes less accessible, the EU might shift its focus towards strengthening internal markets and fostering regional collaboration. This could result in the development of more integrated ecosystems across sectors like fintech, healthtech, and AI. 

Additionally, a decline in US investment—should Trump push his “America First” strategy to the extreme—might prompt European firms to explore alternative funding sources within the EU. This could lead to expansion and self-sufficiency within the region. Furthermore, there’s potential for increased investment from Asian markets, offering new avenues for growth and deeper transatlantic relationships. 

While Trump’s return brings uncertainty, it also provides a unique opportunity for the European tech industry to innovate, adapt, and strengthen its position on the global stage. We will be keeping a close eye on the developments! 

December Tech Funding Roundup: Promising Signs for 2025

January 8, 2025

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Welcome back to our monthly funding roundup! 

Investments certainly didn’t slow down too quickly in December. We saw 11 companies secure tech funding – not bad for the last month of the year!  

We’ve rounded up some of the notable investments from December to see out our monthly roundups for 2024 👇 

💰 Recall’s $1.5 million pre-seed funding round 💰 

Recall, an Amsterdam-based AI tool, has secured $1.5 million in pre-seed funding. The round was led by Jason Calacanis, with participation from Blockchain Founders Capital, Rocket Capital, and Digital Virtues. The funding will help the company advance its mission to revolutionise how we consume, organise, and retain online knowledge. 

🏠🪴 Next Sense equipped to keep cutting carbon emissions 🪴🏠

Next Sense, a smart building platform provider, has secured €11.5 million to advance its mission of creating climate-neutral buildings using AI control. The investment was led by ABP and ETF Partners, with additional support from Edge, SHAPE Capital, and Timeless Investments. This funding marks a significant step toward reducing buildings’ 40% contribution to global CO₂ emissions. 

♻️ Orbisk & AI to tackle food waste ♻️ 

Orbisk, a Dutch scaleup tackling food waste with AI, has raised over €8 million in an oversubscribed Series A funding round. The round was led by Regeneration.VC and co-led by PeakBridge, with support from Kost Capital, DOEN Participaties, Brabant Development Agency (BOM), and EIT Food’s AgriFoodInvest. The funds will be used to improve AI technology, enhance operations, expand customer integrations, and grow their global team. 

🤖 Agricultural robots are on the up! 🤖

Odd.Bot, a Lelystad startup specialising in autonomous agricultural robots, has raised €2 million in pre-Series A funding to advance its sustainable robot and launch new versions.  

Led by Iconic Ventures & with contributions from PolKa Capital Management, Horizon and regional farmers and private investors, the funds are sure to enable the growth of the agricultural robot! 

Conclusion 

It’s clear that innovation across industries shows no signs of slowing down & these investments highlight the diverse and impactful ways technology continues to shape our world. 

It was an exciting close to 2024 and a promising preview of what’s to come in 2025. Stay tuned for more updates as we continue tracking the latest trends and breakthroughs in the tech funding landscape! 

Data & AI Report – Data Trends from November 2024

December 10, 2024

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November’s data trends see a huge focus on AI developments & investments. 

We’ve delved into some of the biggest movements below – check them out 👇 

Big Tech’s Big Bets on AI 

In 2024, the world’s leading tech giants—including Microsoft, Amazon, Alphabet, and Meta—are significantly increasing their investments in AI, with their combined AI spending projected to exceed $240 billion this year. The demand for AI-powered tools continues to skyrocket, driving this unprecedented level of investment. 

With forecasts suggesting that AI could contribute an additional $20 trillion to the global economy by 2030, it’s no surprise that the largest corporations are heavily investing in this space. Beyond the economic potential, such investments create additional revenue opportunities. For example, Microsoft’s AI products are expected to generate $10 billion annually. 

For Big Tech, AI transcends being just a trendy concept; it’s a strategic, long-term commitment poised to transform entire industries.  

Samsung’s Second-Generation AI Model: Gauss2 

In November, Samsung held its virtual Samsung Developer Conference Korea 2024, where it unveiled its latest software innovations and future-focused vision. 

A highlight of the conference was the introduction of Samsung Gauss2, the second-generation AI model that promises improved performance, efficiency, and broader applications. Gauss2 is a multimodal AI system capable of processing language, code, and images, and is available in three versions tailored for different use cases: 

  • Compact: Optimized for on-device use in environments with limited computing resources, maximizing device performance. 
  • Balanced: Offers a blend of performance, speed, and efficiency suitable for various tasks. 
  • Supreme: Provides top-tier performance with Mixture of Experts technology, which reduces computational costs during training and inference while maintaining high efficiency. 

Samsung aims to boost productivity through Gauss2 by enhancing its code.i service, enriching the natural language Q&A capabilities of the Samsung Gauss Portal, and supporting multimodal functions such as table and chart analysis and image creation. 

Read more from Samsung here. 

LinkedIn & The Journey to Their GenAI Tech Stack 

LinkedIn has published a detailed blog post that explores the evolution of its reimagined product portfolio and how Generative AI has been integrated into its features. They identify several key focus areas and insights gained from developing their GenAI capabilities: 

  • Prompt Management: Efficiently managing prompts at scale requires systems for templating, versioning, and structuring to support complex applications 
  • Task Automation via Skills: GenAI-driven task automation can unlock significant value but demands advanced tools to scale effectively 
  • Contextual Awareness & Personalisation: Memory plays a crucial role in personalising GenAI experiences and must be thoughtfully integrated into the tech stack 
  • Model Inference & Fine-Tuning: Balancing quality, cost, and latency requires flexible infrastructure that accommodates various models and use cases 
  • Migration to the New Stack: Adopting new technologies through incremental migration and cross-training is essential for stability 

Since the introduction of their GenAI tools in early 2023, LinkedIn has continued to refine these capabilities, moving towards their vision of a robust GenAI tech stack that balances rapid development with long-term scalability. 

Read the full blog from LinkedIn here. 

Google’s Accidental Unveiling of Project Jarvis 

Google appears to be developing an advanced AI assistant that goes beyond traditional chatbots and voice assistants. Known as Project Jarvis, this initiative aims to perform tasks autonomously, rather than waiting for user commands. It can manage tasks such as handling emails, conducting research, and scheduling appointments, setting itself apart by proactively collaborating with users as a digital partner. 

While the technology holds exciting potential, it also raises important questions. On the skeptical side, concerns include the potential for job automation, which could impact routine roles, and security risks, given that Jarvis would have access to users’ sensitive data. However, the technology could also provide significant benefits, enhancing accessibility for people with disabilities and those with busy, on-the-go schedules. 

We’re excited to see where this innovative project leads! 

Conclusion 

As we move through 2024, one thing is clear: AI has firmly cemented itself as the cornerstone of innovation and economic growth. From groundbreaking AI models like Samsung Gauss2 to LinkedIn’s evolution of its product tech stack, and even Google’s latest AI assistant, the landscape is rapidly evolving, and the world’s leading tech companies are investing billions to aid in further development. 

Check back next month to see how we round up the data trends for the end of 2024. 

November Tech Funding Roundup: End of 2024 Brings Cautious Optimism

December 5, 2024

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Welcome back to our monthly tech funding roundup 👋

In November, 19 companies secured tech funding investments, up from just 10 in October! As we predicted last month, the end of the year is bringing some cautious optimism. 

Here are a few of the standout funding rounds from the month—take a look to see who’s making strides 👇

An impressive €21.3million raised for Sympower to help boost their work in renewable energy 

Amsterdam-based Sympower, a leading European energy flexibility services provider, has secured €21.3 million in an oversubscribed Series B1 funding round, led by A&G Energy Transition Tech Fund. 

The funding will support Sympower in scaling its battery energy storage solutions, pursuing mergers and acquisitions, and accelerating its European expansion while continuing to help businesses optimise their energy usage. 

Pioneering SaaS platform dedicated to agricultural sustainability raises $11.2 million 

TRACT has raised $11.2 million in funding, supported by existing investors Archer Daniels Midland Company, Cargill, Louis Dreyfus Company, and Olam, along with new partners The Working Capital Fund and Rabo Investments. 

Dedicated to simplifying data management and enabling supply chain transparency and traceability, this significant funding will fuel TRACT’s mission and drive its progress. 

Amsterdam ticketing start-up, Celebratix, secures €1.1 million to expand international growth 

Celebratix has raised €1.1 million in funding from investors including uBIT and several entrepreneurs from the Netherlands and the UK. This capital will be used to accelerate the company’s global expansion. 

Using the Solana blockchain, Celebratix enables event organizers to access revenue and customer data throughout every phase of an event—before, during, and after. The platform empowers organizers to control the secondary market while providing attendees with a secure and seamless experience. 

Hague based Bubty secures additional €3 million in seed funding 

Bubty, the rapidly growing freelance management system, has secured €3 million in funding to support its continued international expansion. 

Founded in 2020, Bubty has quickly gained significant traction, with one million users already on the platform. This investment signals strong potential for further growth, enabling the company to navigate the complexities of compliance for businesses using its services. 

Europe’s only edtech specialist fund invests €2 million towards AI-powered university support solution 

LearnWise AI, an innovative university support platform, received €2 million in seed funding in a round led by Emerge, to scale its university support solution globally. 

LearnWise transforms higher education with its AI-powered solution, delivering a seamless and intelligent experience across university systems. With this funding, the company aims to accelerate product development to address the evolving needs of universities worldwide. 

Conclusion 

November has proven to be a promising month for innovation and growth, with a significant boost in funding across a variety of sectors. Is this a sign of market confidence within the private equity & venture capital landscape? 

As we head into the final stretch of the year, the momentum continues to build, and it’s clear that many of these companies are poised for even greater success in 2025. Stay tuned for more updates on the exciting developments to come! 

Data & AI Report – Data Trends in October 2024

November 13, 2024

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Data trends in October saw impressive investments, cleantech advancements, AI assistants and most excitingly, robots! 

We’ve delved into the most exciting news from the month – check them out below 👇

European Innovation Council to Boost Deep Tech Innovation with €1.4 Billion Investment in 2025 

The EIC has announced an impressive €1.4 billion investment: a huge boost to deep tech research and strategic technology start-ups across Europe for 2025. This increase represents a massive €200 million boost compared to 2024, underscoring the EU’s commitment to nurturing high-potential tech ventures that will shape Europe’s technological future. 

By improving access to capital, the EIC is actively working to bridge the funding gap that often limits the growth of Europe’s tech pioneers and hinders their global competitiveness. This offers a critical opportunity from European startups – we’re excited to see what this brings! 

Read more about the 2025 EIC programme here. 

Lunar’s AI Voice Assistant to Handle 75% of Customer Calls, Revolutionising Fintech Support 

Danish challenger bank Lunar takes major step forward in customer service by launching a voice assistant powered by AI. Aiming to handle  75% of customer calls, Lunar’s AI assistant promises a seamless 24/7 experience. Accessible answers even in the middle of the night!

Lunar’s move echoes a growing trend among fintechs (including Klarna and Bunq) who are using AI to streamline customer support without cutting jobs. With its forward-thinking approach and a valuation of $2.2 billion, Lunar is positioning itself at the forefront of fintech innovation in the Nordics, aiming to enhance customer service without sacrificing the personal touch. 

See Lunar’s press release here. 

Cleantech Companies Secure a Huge €13.2 billion in Funding in First Three Quarters of 2024 

Cleantech companies are at the forefront of Europe’s drive for sustainability: they are spearheading efforts to reduce carbon emissions and transition toward a circular economy. Their innovative work in renewable energy, sustainable materials, and resource management is not only crucial for environmental resilience but also fuels job creation and economic growth across the continent. 

These investments highlight the strong momentum behind green technologies and signal continued interest in sustainable growth from investors. With support like this, Europe is laying the groundwork for a cleaner, more sustainable future, one that aligns environmental priorities with economic opportunity. 

Check out a few of the companies that were involved in raising the funds: 

Northvolt // Avantium Technologies // BioBTX 

Starship and Bolt Team Up for Robot Grocery Deliveries in Tallinn 

Make way for the robot! 

Estonian-founded tech leaders Starship Technologies & Bolt have joined forces to launch Europe’s first robot-powered grocery delivery service – a huge push forward! 

This groundbreaking service combines Starship’s autonomous delivery robots with Bolt’s popular delivery app. Starship’s robots, consume minimal energy—about the amount needed to boil a kettle for a cup of tea. The robots offer a more sustainable option to usual deliveries – we have no doubt this will quickly spread throughout the rest of Europe! 

Conclusion

Europe is rapidly advancing through strategic investments, cutting-edge AI applications, and innovative green solutions. It’s setting a strong foundation for future growth in high-impact sectors and the developments signal a promising era of sustainable innovation, economic opportunity, and technological leadership across Europe. 

Check back to see what data trends we see develop next month.

October Tech Funding Roundup: Exciting Growth for Netherlands Startups

November 7, 2024

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Welcome back to our monthly tech funding roundup.

October brought exciting growth for several companies, with tech funding investments flowing in to fuel their next big steps. We’ve highlighted some of the most notable funding stories from the month.

Take a look and see who’s gaining momentum 👇

Amazing news for Tebi as they receive 20 million to accelerate global funding 

Tebi received its first major investment of €20 million from Index Ventures to fuel global growth. Founded by Adyen co-founder Arnout Schuijff, Tebi’s mobile platform simplifies management for small businesses, offering point-of-sale, payments, inventory, and accounting features all in one place. 

Passionfruit among one of seven companies to gain funding from UNIIQ 

€350,000 in pre-seed funding has been allocated to Passionfruit in a larger €2.5 million investment from UNIIQ, with this being spread across seven companies.  

Passionfruit specialises in automating ESG reporting with an AI-driven workflow management tool. The platform streamlines up to 90% of compliance-related tasks, enabling companies to address complex customer and auditor requests more efficiently. A great investment for a company only founded this year. 

An exciting €1.5 million in equity investment for Antennex 

Antennex received a €1.5 million investment from Value Creation Capital (VCC) and Brabantse Ontwikkelings Maatschappij (BOM) to support its commercial growth.  

Founded in 2023 as a spinoff from Eindhoven University of Technology, Antennex uses advanced technology to simplify antenna testing, delivering fast and precise measurements for the telecom, automotive, aerospace, and defense industries. 

Conclusion 

The outlook for the end of 2024 is continuing to show optimism. 

Despite global economic challenges, the Netherlands remains a leading European startup hub, especially in deep tech, AI, and climate tech and we expect to see further tech funding to see us through the end of the year.

Check back next month to see how this develops! 

November Tech Event Highlights

October 24, 2024

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November is packed with fantastic tech events & conferences, and with a slower pace expected during the festive season next month, now is the perfect time to wrap up your year of networking.
J-Fall 2024 – Ede, Netherlands – November 7

The biggest Java conference to come to the Netherlands! A day full of top Keynotes, Technical Sessions, Workshops, and Hands-On Labs.

Do iOS 2024 – Amsterdam – November 12-14

Connect, share knowledge and celebrate iOS development at one of Europe’s premier iOS developer conferences.

SREday 2024 – Amsterdam – November 21

An in-person event, bringing together the expanding community of Site Reliability Engineers. Connect with industry experts, collaborate with peers, and meet others who share your interests!

Beers & Bytes – Amsterdam – November 28

We’re back! Our exclusive, invite only event is returning for a Christmas special & we can’t wait to see you there 🎄❄️🍺

Visit the event links for more information & to book your ticket now!

Data & AI Report – Data Science Trends September 2024

October 9, 2024

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September trends in data science saw introductions into advanced search engines, internal developments & data protection from potential AI threats.

We’ve covered some exciting news from some big names.

Read on for more on all these exciting developments!

Vinted migrate to Vespa – how the online second hand shopping phenomenon is keeping up with the growth & complexity of data

After hitting the limits of their previous search engine, Vinted were on a mission to find a more scalable alternative.

Introducing Vespa: an open-source search engine & vector database. Vespa supports vector and keyword search and searches within structured data, all in one query. It also integrates machine learning which enables real-time AI insights from their data. It’s proven to handle thousands of queries per second, making it the top-runner for managing large & complex data.

Already used by others including Spotify & Yahoo and with continuous application improvements being delivered, will we continue to see increased use of Vespa?

Read more about Vinted’s migration here.

QueryGBT – allowing easier and faster data analysis for Uber

Uber’s data platform handles a huge 1.2 million interactive queries each month. The idea of QueryGBT is to better manage real-time data analytics & to query massive datasets. A combination of Presto (open-source SQL query engine) and Apache Hudi, which has the capabilities for handling upserts and managing large volumes of data in a cloud-based or distributed environment.

The system is part of Uber’s broader efforts to handle large-scale, real-time data streaming and querying – integral to its data-driven approach to decision-making. It’s said to minimise generating reliable queries from 10 minutes down to 3 which is a massive productivity gain for Uber.

Using advanced AI, QueryGPT fits smoothly into Uber’s data system, cutting query time and increasing accuracy to handle their complex data needs.

Read more about the advancements here.

Dropbox & Lakera Guard securing LLM’s

In a blog posted this September, Dropbox delved into how they’re using Lakera Guard to protect their LLM’s from potential security threats posed by AI.

Citing the importance of maintaining the trust of their millions of users to protect their content, Dropbox talk about how they chose Lakera Guard last year to protect user data & uphold the reliability and trustworthiness of their intelligent features, as outlined in their AI principles.

What were Dropbox looking for in their quest for protection? Their considerations concluded that it has to be deployable on their existing infrastructure, have low latency, strong confidence scores and scope for continuous improvement.

Dropbox have since invested in Lakera Guard, proving their strong belief in it’s abilities. Furthermore, they’ve also collaborated with the teams to develop improvements on the software itself. Working closely with Lakera, Dropbox have been able to help them meet their requirements whilst achieving their own security goals, too!

Read the full blog here.

Conclusion

In today’s fast-paced digital landscape, companies like Vinted, Uber and Dropbox are navigating many complexities. Vinted’s switch to Vespa demonstrates the importance of scalable search engines as companies grow. Uber’s QueryGBT highlights the need for faster and more accurate data analytics. Meanwhile, Dropbox’s partnership with Lakera Guard emphasises the need to secure AI systems to ensure data remains protected as AI technologies advance.

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