Deeptech
Q2 202406.06.2024

Industrial tech (Q2 2024)

Picture of Éanna Kelly

Éanna Kelly

at Sifted

AI systems are coming onto the factory floor to help with quality control, equipment maintenance, training and the automation of paperwork.

Germany’s Daedalus, founded by one of OpenAI’s first engineering hires, raised $21m in February to develop its vision for AI-controlled factories. Switzerland’s EthonAI raised a $16.5m Series A in May for software that predicts maintenance needs.

Big manufacturers are using so-called digital twin tech and AI to identify and correct shortcomings in operations early. Ai:omatic Solutions — based in Germany, as so many of these manufacturing startups are — raised €2m in January for a system that detects potential machine faults. Tomorrow Things, also German, raised €1.5m in March for a similar product.

Daedalus founder Jonas Schneider told Sifted in February that his technology will let workers communicate with its system via natural language. So you could prompt it with instructions like: “I need to make a hinge for this part that needs to be thin in these places.”

This sounds like potentially a big leap forward — and far away from the reality of most factories today. But imagine creating a painstakingly-complicated silicon wafer only to discover afterwards it’s not usable. In theory, the Daedalus approach could avoid costly defects like this: the company's pattern-matching tech could apply previous knowledge to configure machines for every new part.

20 startups to watch

  • Tacto logo

    Sifted score

    8.08
    -

    Tacto

    • Strong investor(s)
    • Hiring
    • Year founded

      2020

    • HQ

      Munich, Germany

    • Latest round

      Series A
      50m / Dec 2023

    • Total funding

      55.3m

  • Bren logo

    Sifted score

    7.3
    -

    Bren

    • Serial founder(s)
    • Year founded

      2018

    • HQ

      Nilüfer, Türkiye

    • Latest round

      Seed
      10.9m / Oct 2022

    • Total funding

      11.2m

  • Jimmy Energy logo

    Sifted score

    7.07
    -

    Jimmy Energy

    • Strong investor(s)
    • Year founded

      2020

    • HQ

      Paris, France

    • Latest round

      Grant
      32m / Nov 2023

    • Total funding

      49.2m

  • Ethon AI logo

    Sifted score

    6.98
    -

    Ethon AI

    • Strong investor(s)
    • Year founded

      2021

    • HQ

      Zurich, Switzerland

    • Latest round

      Seed
      6.2m / Feb 2023

    • Total funding

      7.2m

  • Outsight logo

    Sifted score

    6.61
    -

    Outsight

    LiDAR-based tracking and measurement solutions.

    • Strong investor(s)
    • Serial founder(s)
    • Hiring
    • Year founded

      2019

    • HQ

      Paris, France

    • Latest round

      Early VC
      22m / Oct 2022

    • Total funding

      42.6m

Related articles

‘None of us will do it alone’: European solidarity takes over VivaTech

‘None of us will do it alone’: European solidarity takes over VivaTech

VivaTech 2025. ©Viva Technology 2025
By Daphné Leprince-Ringuet

Pro

Eric Slesinger’s 201 Ventures plots second defence fund, sources say

June 19, 2026

Eric Slesinger’s 201 Ventures plots second defence fund, sources say

By Anne Sraders

Pro

From post-Soviet farming to rewriting the EU's startup rulebook: Meet EU Inc's Iwona Anna Biernat
Profile

June 19, 2026

From post-Soviet farming to rewriting the EU's startup rulebook: Meet EU Inc's Iwona Anna Biernat

EU Inc co-lead Iwona Anna Biernat
By Martin Coulter

Pro

Cleo employees allege toxic workplace culture: ‘Directionless and deeply unhappy’
FintechExclusive

June 19, 2026

Cleo employees allege toxic workplace culture: ‘Directionless and deeply unhappy’

Cleo employees allege toxic workplace culture: ‘Directionless and deeply unhappy’
By Damisola Sulaiman

Pro

Legora warns investors against unapproved share trades

June 19, 2026

Legora warns investors against unapproved share trades

Photo of Legora's founders Sigge Labor and Max Junestrand.
By Freya Pratty

Pro

‘We’re in a very fast race’: Life at Nabla means big numbers and jet lag

June 19, 2026

‘We’re in a very fast race’: Life at Nabla means big numbers and jet lag

Nabla
By Éanna Kelly

Pro

YC-backed Flagright raises $12.5m to fuel US expansion

June 18, 2026

YC-backed Flagright raises $12.5m to fuel US expansion

The round was led by Infinity Ventures with participation from Sella Direct Ventures and Frontline

By Martin Coulter
7 TUM spinouts ready to raise their next round
University spinoutsSpinouts fundraising

June 18, 2026

7 TUM spinouts ready to raise their next round

The German spinout factory counts companies like Isar Aerospace and Robco among its alumni

By Oshin Narang

Pro

‘This will unveil the ground truth’: Why the Anthropic ban could benefit European AI

June 18, 2026

‘This will unveil the ground truth’: Why the Anthropic ban could benefit European AI

Uljan Sharka, the founder and CEO of Italian AI model maker Domyn
By Daphné Leprince-Ringuet

Pro

Industrial tech mapped — 64 startups to watch in Europe
Industry 4.0Market map

June 18, 2026

Industrial tech mapped — 64 startups to watch in Europe

Factories, warehouses, materials: the companies powering Europe's industrial future

By Ruggero Di Spigna

Pro

‘Companies will have to go the extra mile’: How Europe is future-proofing its hiring strategy

June 17, 2026

‘Companies will have to go the extra mile’: How Europe is future-proofing its hiring strategy

‘Companies will have to go the extra mile’: How Europe is future-proofing its hiring strategy
Sponsored by WorkMotion
3 ex-Palantir engineers raise $60m from Index, Iconiq, SAP for agentic operating system

June 17, 2026

3 ex-Palantir engineers raise $60m from Index, Iconiq, SAP for agentic operating system

3 ex-Palantir engineers raise $60m from Index, Iconiq, SAP for agentic operating system
By Maya Dharampal-Hornby
Is this Europe’s most audacious founder?
Startup lifeBrunch with Sifted

June 17, 2026

Is this Europe’s most audacious founder?

Is this Europe’s most audacious founder?
By Éanna Kelly

Pro

Mistral CEO pitches open source AI days after Anthropic ban: ‘We exist outside of state control’

June 17, 2026

Mistral CEO pitches open source AI days after Anthropic ban: ‘We exist outside of state control’

By Daphné Leprince-Ringuet
CuspAI to hit $2.6bn valuation with backing from Jeff Bezos, reports say

June 17, 2026

CuspAI to hit $2.6bn valuation with backing from Jeff Bezos, reports say

By Tom Nugent
French battlefield software startup Comand AI raises €32m from Blossom Capital, Saab

June 17, 2026

French battlefield software startup Comand AI raises €32m from Blossom Capital, Saab

By Anne Sraders
Luxembourg Venture Days connects capital and dealflow
Venture capitalPaid for and produced by

June 17, 2026

Luxembourg Venture Days connects capital and dealflow

Luxembourg Venture Days connects capital and dealflow
Paid for and produced by Startup Luxembourg
Four mistakes not to make as a first-time founder

June 17, 2026

Four mistakes not to make as a first-time founder

Four mistakes not to make as a first-time founder
By Shah Ramezani
Series D funding rises 308% in first half of 2026
Sifted data

June 17, 2026

Series D funding rises 308% in first half of 2026

Picture of ElevenLabs’ Mati Staniszewski
By Federico Scolari

Pro

ChapsVision to replace Palantir in major contract with French intelligence agency
DataNews

June 16, 2026

ChapsVision to replace Palantir in major contract with French intelligence agency

By Daphné Leprince-Ringuet
What the Anthropic shutdown means for Europe

June 16, 2026

What the Anthropic shutdown means for Europe

The move is the first example of the US activating a so-called digital “kill switch"

By Maya Dharampal-Hornby
What it actually takes to be a top performer at Revolut
FintechExplainer

June 16, 2026

What it actually takes to be a top performer at Revolut

Revolut office
By Damisola Sulaiman

Pro

How Europe can build a self-reliant defence tech ecosystem
Defence techSponsored by

June 16, 2026

How Europe can build a self-reliant defence tech ecosystem

How Europe can build a self-reliant defence tech ecosystem
Sponsored by London Business School
Grind culture is a failure of management — but we still turn away 9-5 candidates

June 16, 2026

Grind culture is a failure of management — but we still turn away 9-5 candidates

Grind culture is a failure of management — but we still turn away 9-5 candidates
By Bob Gregory and Josh Vernon