Updates about the directory and European alternatives.
Sequoia and Abstract Ventures led a $40M Series B for Paris-based AI workspace Dust on 18 May 2026, with Snowflake Ventures and Datadog joining. Permutation Labs SAS now claims around 3,000 organisations on its multi-agent platform.
Milan-based Lexroom's Series B lands six months after Legora's $5.6B valuation, giving Europe two credible alternatives to Harvey in one of AI's most contested verticals.
The April 2026 tie-up between Canada's Cohere and Germany's Aleph Alpha closes one of Europe's two flagship foundation-model labs into a Toronto-led group. Mistral is now the only EU-controlled lab still trying to compete at the frontier.
Cologne-based AI translation leader DeepL announced on 7 May 2026 that it will lay off around 250 employees — about 25% of its workforce — to rebuild as an "AI-native" organisation. The cuts coincide with a Voice-to-Voice launch and the company's first US office.
Capital One's acquisition of corporate-card specialist Brex closed on 7 April 2026, leaving Ramp as the largest independent US peer and refocusing attention on European spend management vendors.
In a May 13 hearing before France's National Assembly, Arthur Mensch said Europe must build sovereign chip, energy, and data-center capacity within 24 months — or lose negotiating leverage entirely.
On May 19, Mistral acquired Linz-based physics-AI startup Emmi AI. The deal anchors a new focus on engineering, manufacturing, and physical simulation — and a clear bet on where Europe's AI edge actually lies.
Meta's former chief AI scientist has set up his new lab in Paris. AMI Labs raised $1.03 billion in March on a contrarian bet that "world models", not larger language models, are the path to general intelligence.