Vinted, the popular online marketplace for second-hand fashion, has announced its first-ever annual profit. The milestone follows a strong 2023, reaching 596.3mn in revenue a 61% increase compared to the previous year (370.2mn). With an adjusted EBITDA at 76.6mn, Vinted turned a 20.4mn net loss in 2022 into a 17.8mn net profit in 2023. The startup attributes its profitability to significant growth, starting with increased penetration in existing markets and its expansion to Romania, Denmark, an

MindAffect, a Netherlands-based healthtech startup, has raised 1.1mn to bring its hearing diagnostics technology to market. A spinout from Radboud University, MindAffect has developed a patented brain computer interface (BCI) technology, which enables diagnosis of hearing impairments using brain signals. The startup aims to provide a more equitable testing solution that specifically caters for hard-to-test patients, such as children, the elderly, and people with disabilities. Current methods, su

Paris-based Klineo has raised 2mn for its AI platform that facilitates access to cancer clinical trials. Klineos platform connects doctors and patients directly with relevant clinical trials. It provides trial search, contact with medical centres, as well as real-time updates and notifications when a new clinical trial matches the patients criteria. The startups solution currently covers trials on skin cancer, breast cancer, and lymphoma. Klineo was founded in 2021 by oncologist Dr Arnaud Bayle

The Financial Times (full disclosure the owners of The Next Web) have inked a deal with OpenAI. The American firm will use the British publishers content to train its generative AI models. The deal is the latest in a string of new partnerships between OpenAI and global news publishers like Axel Springer, Associated Press, and Le Monde. The company did not disclose the financial terms of any of the contracts. In 2023 alone, hundreds of pages of litigation and countless articles accused tech firm

Under the UKs new cybersecurity law, consumer smart devices can no longer allow the use of weak, easy-to-guess passwords, such as admin or 12345. This is part of a set of minimum-security standards the UK is requiring to protect consumers from hacking and cyberattacks. The law covers every smart device that comes with internet or network connectivity, ranging from TVs and phones to game consoles, connected fridges, and smart doorbells. Manufacturers of such products will also have to publish con

Polestar has successfully charged its upcoming EV model in just 10 minutes. The Swedish car maker achieved the feat using a silicon-dominant battery built by Israeli startup StoreDot. Polestar installed the battery in a fully drivable prototype of its Polestar 5 model, set to go on sale next year. It managed to charge the EV from 10% to 80% under the 10-minute time cap. StoreDots batteries use silicon anodes instead of graphite. Silicon anodes can store 10 times the amount of lithium ions that

Our understanding of the challenges women face in the startup ecosystem is limited. Past research has focused on overt negative sexist attitudes that question womens competence and suitability for entrepreneurship. This view overlooks the existence of more subtle, yet pervasive and socially acceptable, sexist attitudes that often go unnoticed. Given the sheer number of people interested or working in startups today, from investors to suppliers to job applicants, the effects of these subtle forms

Hallo, Netherlands!Welcome to TNWs first weekly round-up of tech news from our glorious home country. As we count down to TNW conference in Amsterdam on June 20 and 21, were ramping up our coverage of the Dutch IT sector. Wed also love to hear your thoughts on the local ecosystem. Drop us a line if you want to showcase your startup, share a digital tip, or just tell us your deepest, darkest secrets. In the meantime, lets get to the news. What were writing Chip giant ASML plans Eindhoven expansio

In 2022, over 20,000 Lithuanians returned to their country of birth from abroad. A high quality of life coupled with a booming entrepreneurial ecosystem and a collaborative mentality has contributed to what investors are calling a reverse brain drain. Many of their minds reemerge in the countrys startup scene. It was on a visit to Lisbon that I first heard someone refer to Lithuania as a hidden gem of Europes startup ecosystem. A recent trip to Vilnius convinced me they were right. To further dr

DeepL, which has been rivalling machine translation giants such as Google Translate and Microsoft Translator, has launched an AI writing assistant tailored for businesses. Dubbed DeepL Write Pro, the product acts as a creative assistant for use during the drafting process. It provides suggestions on word choice, phrasing, style, and tone, aiming to improve the text, while preserving the writers own voice. Currently available in English and German, the tool comes with customisation options for bo

British cybersecurity flag bearer Darktrace is set to leave Londons stock market after agreeing a 4.3bn sale to US private equity firm Thoma Bravo. Shareholders will have to approve the takeover before its rubber-stamped. The chair of Darktrace, Gordon Hurst, said the deal represents an attractive premium and an opportunity for shareholders. The proposed acquisition will provide Darktrace access to a strong financial partner in Thoma Bravo, with deep software sector expertise, who can enhance th

Time and again, leading scientists, technologists, and philosophers have made spectacularly terrible guesses about the direction of innovation. Even Einstein was not immune, claiming, There is not the slightest indication that nuclear energy will ever be obtainable, just ten years before Enrico Fermi completed construction of the first fission reactor in Chicago. Shortly thereafter, the consensus switched to fears of an imminent nuclear holocaust. Similarly, todays experts warn that an artificia

Cyber attackers battered Poland after the countrys change of government late last year. DDoS attacks at the end of 2023 were nearly quadruple the countrys average, according to cybersecurity firm NetScouts observations. The surge began when the Law and Justice party (PiS) lost its majority in last years Polish general election. PiS had ruled the country since 2015. It was replaced by a coalition government,which reaffirmed support for Ukraines defence against Russias invasion. NetScout described

Demand for industrial robots is rising in Europe, especially driven by the benefits of automation. However, there are ongoing challenges in ensuring seamless collaboration with humans while maintaining safety. To address this issue, a consortium of European universities, technology accelerators, and private research labs is launching the RoboSAPIENs project. The aim is to build the necessary safety mechanisms with a particular focus on adaptive industrial robots a category of autonomous robots

A British startup today unveiled new AI humans that blur the line between the virtual and the real. Synthesia calls the digital beings Expressive Avatars. They promise the most realistic emotional expressions on the market. Generated by an AI model thats trained on footage of real actors, the avatars are built for video creation. Users simply enter a text prompt and the synthetic humans read them out on a screen. The photorealistic renders are certainly impressive. But what makes them unique is

Dutch car-sharing platform SnappCar, which claims to be the largest of its kind in the Netherlands, has been fully acquired by AutoBinck Group a shareholder in the scaleup since its founding in 2011. The ownership change also sees the return of SnappCars founder, Victor van Tol, in the role of the CEO. Van Told told local newspaper mt/sprout that the acquisition will enable faster decisions and eliminate the need for external investments. AutoBinck, which specialises in mobility and energy solu

A startup promising universal AI compute has joined Frances thriving artificial intelligence sector. Paris-based FlexAI emerged from stealth today with a 28.5mn war chest and an ambitious plan to unlock the future of machine intelligence. To pick that lock, FlexAI is rearchitecting compute infrastructure. The plans centrepiece is an on-demand cloud service. Set to launch later this year, the product will enable developers to build and train AI applications with heterogeneous compute architecture

Welcome to the new episode of the TNW Podcast the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In todays episode, Ioanna and Andrii talk about the potentially good news about ASMLs future in the Netherlands, the latest developments at Stability AI, carbon capture solutions, and much more. The guest of the show is Sebastian Aristotelis, whose title is co-founder and Lead Archite

Its safe to say that the age of generative AI is well and truly upon us, rapidly changing the world of work as we know it. According to the World Economic Forums 2023 Future of Jobs Report, more than 75% of companies are looking to adopt technologies like AI in the next five years, so its no surprise that career opportunities in the space are exploding, especially for developers. But which programming language is leading the way? Python is without a doubt the most buzzed-about language for AI de

A British startup aimsto launch science satellites into space in 2025 after raising a fresh 2mn. BlueSkiesSpace has devised a unique business plan for the stargazers. They will be the first-ever science satellites that provide data directly to researchers via a membership model, the company said. The approach offers a new route tothe secrets of our universe. Currently, researchers rely on government agencies such as NASA and ESA to access space data. Unfortunately, this supply doesnt meet the de

In a major win for the Dutch tech industry, chip giant ASML intends to remain and further expand in the Netherlands. The chip machine manufacturer has signed a non-binding letter of intent with the City Council of Eindhoven, eyeing a potential expansion at the Brainport Industries Campus (BIC), west of the city. Located at Eindhovens Brainport region a major tech and innovation hub in Europe BIC is dedicated to the high-tech manufacturing industry. For ASML, BIC represents an interesting optio

Yesterday, the EU issued TikTok an ultimatum. The Chinese-owned social media app was given just 24 hours to outline the mental health risks related to its new app TikTok Lite or face huge daily fines. This is the EUs second probe into TikTok under the Digital Service Act (DSA). The DSA is a new law to protect users from harmful or illegal online content. It requires large platforms like TikTok to submit a risk assessment before launching any major new features. The EUs latest gripe with the Chin

Grindr is being sued. The LGBTQ+ dating app is accused of sharing its users medical data with advertisers. This data includes their HIV status. UK law firm Austen Hays filed the claim at Londons High Court yesterday. The class action lawsuit represents hundreds of users of the app. Austen Hays claims that US-based Grindr breached UK data protection law by selling sensitive data to third parties without users consent. Aside from medical facts, this includes info about peoples ethnicity, sex life,

I am really into (my friends might say somewhat obsessed with) coffee. Not just for the hits of caffeine that fuel our productivity-enthralled capitalist society, but also for the taste, as well as different styles of brewing (although my Swedish roots make me partial to a pour-over). Sadly, I do not often get to write about it, as even though coffee roasting and brewing rely on technological engineering tech startups and coffee hardly ever intersect in the news. Enter Helsinki-based Kaffa Roa

All of us will face the consequences of runaway climate change unless, maybe, youre living in one of Elon Musks new homes on Mars. But for the rest of us poor souls, tackling global heating is pretty much the top priority. The bad news is we are not on track to limit global temperatures rising to 1.5C to prevent the most catastrophic impacts of climate change. A new report has also revealed that temperatures in Europe are rising twice as fast as the rest of the world. Drastic cuts in emissions

In an attempt to reduce the workload of GPs, the UK is planning to introduce a new National Health Service (NHS) algorithm that will enable self-issued sick notes. The move is part of the governments effort to reform the sick note system, as Prime Minister Rishi Sunak is seeking not only to alleviate GPs, but also end the sick note culture. We need to change the sick note culture so the default becomes what work you can do not what you cant, Sunak said during a speech last week. According to NH

New data published today by Dealroom reveal that European VC investment rose 5% year-on-year for the first quarter of 2024. Whats more, the Netherlands is showing a particularly strong comeback. Amsterdam funding rose a highly encouraging 107%. Overall, European VC investment reached $13.7bn in Q1 2024, an increase fuelled to a great extent by the energy transition. Energy was the biggest sector for tech startup and scaleup investment for the fourth quarter in a row, having raised $3.1bn in the

Just a decade ago, the worlds biggest tech beast was a relative minnow. Microsoft had become notorious for disappointing product launches, stagnant innovation, and losing top talent. Thefirst true software giant was becoming a big tech dinosaur. Fast forward to 2024 and Microsoft is the planets most valuable business. Under the leadership of CEO Satya Nadella, stock has soared by over 1,000% in 10 years. In January, the company reached a $3 trillion market cap larger than the whole GDP of Franc

Britain is exploring new curbs on exporting and funding sensitive technologies amid growing tensions with China. Oliver Dowden, the UKs deputy prime minister, launched a review of the restrictions on Thursday. He warned that hostile states could use British funds and tech for military and intelligence projects that threaten national security. Our open economy is being targeted by state-based actors and their proxies, Dowden said in a speech at the Chatham House think tank in London. Across our i

For the past two years, I have worked at a company whose workforce hails from around the globe, including the United States, Europe, and Latin America. Im the only team member based in Santa Marta, on Colombias Caribbean coast, and I work remotely like many of my colleagues on the other continents. The experience has opened my eyes to a dynamic blend of workplace norms and cultures, but has also posed some challenges. Differing time zones, humour and customs, access to technology, communication

Dutch startupMeatable has hosted the first legally approved tasting of cultivated meat in Europe. On the menu was a lab-grown pork sausage. Meatable says the produce is indistinguishable from traditional meat, but causes no harm to animals or the environment. To replicate the flavours and textures of livestock, Meatable first extracts a single cell sample from a pig. The sample is then cultivated in a bioreactor. Over time, the sample multiplies and forms real muscle tissue, which is shaped into

AI threatens to decimate the translation profession, according to a new survey by a British union. Almost four in ten translators (36%) said theyve already lost work due to generative AI. Nearly half of them (43%) said the tech has decreased their income. They fear far worse is to come. Over three-quarters of translators (77%) believe GenAI will negatively impact future income from their creative work. The survey was conducted by the Society of Authors (SoA), the UKs largest trade union for tran

California-based quantum circuitry company Rigetti has brought a commercially available quantum computer to the UK. Only the second in the country, it was installed in collaboration with Oxford Instruments NanoScience a cryogenics company that provides the cooling needed for superconducting qubits. The system, supported by grants from the UK government, is Rigettis first UK-based quantum computer and will be accessible via the companys cloud computing services. When it comes to quantum computin

Welcome to the new episode of the TNW Podcast the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In todays episode, Linnea and Andrii talk about artificial general intelligence, repairable airbuds, some Wolverine nerdery, drone delivery adoption, and much more. The guest of the show is Caroline Viarouge, CEO at EIT Manufacturing. A big part of the conversation focused on the coo

Amid the semiconductor industrys slowdown and increasing geopolitical tensions, Dutch chip machine-maker ASML reported a decrease both in sales and profits. Europes most valuable tech company saw orders fall to 3.6bn in the first quarter of 2024, down from 9.2bn in the previous quarter. Its net profit also dropped to 1.2bn a 37% decrease compared to Q4 2023. We see 2024 as a transition, ASMLs President and CEO Peter Wennink said in a statement. Wennink expects a stronger second half of the year

Under orders from the EU, tech giants have launched 11 advertising transparency tools. None of them are fit for purpose, according to a new study from Mozilla. The tools provide libraries of data about online adverts. By exploring the repositories, researchers can identify the funders and techniques behind the ads. At least, thats the idea. The libraries are obligatory under the EUs Digital Services Act (DSA), a law designed to safeguard online environments. By shining a light onad content and t

A British drone maker plans to launch air taxis in 2026 after raising a whopping $110mn. Skyports has already flown electricvertical takeoff and landing (eVTOL) aircraft on delivery and monitoring trials. The new funding brings commercial air taxis closer to the services on offer. The first flights are slated to take off in the United Arab Emirates. Earlier this year, Skyports inked a deal with authorities in Dubai to build four vertiports ahead of the launch of air taxi services in 2026. Skypor

Berlin-based Ecosia, best known as the tree-planting search engine, has teamed up with French startup Kanop to monitor its reforestation efforts from space. With around 20 million users, Ecosia is the worlds largest not-for-profit search engine. It is also one of the biggest tree-planters in the world. The company claims to have planted 200 million trees since its inception in 2009. To date, Ecosia has monitored its tree-planting efforts using ground-based observations. But with the help of Kano

More than 50 European VCs and startups have joined forces to launch Climate Brick a new community designed to fast-track investment in green technologies. Climate Brick launched today along with what its founders claim to be one of the most comprehensive climate tech studies ever conducted. The report, featuring interviews with 100 climate experts and 3,000 companies, offers a roadmap for climate tech startups looking to scale. We really needed a common vocabulary and playbook for climate tech,

The boom of artificial intelligence has spurred a regulatory frenzy across the globe and Europe is at the forefront of the developments. Both the EU and the UK are attempting to find the elusive balance between leveraging AIs growth and mitigating potential risks but their approaches differ significantly. The former has opted for a hands-on, risk-based approach, whereas the latter has promised a pro-innovation stance. However, with news emerging that the UK government is now drafting new rules

Space nerds delight: you can now play as an astronaut in Fortnite. You can even team up with your buddies to build a lunar habitat based on real future missions of the European Space Agency. Designed by Epic Games, Lunar Horizons is set at the lunar south pole. This is the point on the Moon deemed most suitable for human habitation due to the possible existence of water ice. Epic Games worked with ESAs human and robotic exploration experts to create a lifelike 3D environment for the game. This i

While its commonly said we live in the information era, I like calling it something else: the screen age. Over the past seventy years, weve seen displays seep into almost every aspect of our lives. We had televisions arrive in our homes, reshaping news and entertainment. Hot on their heels came smartphones, which changed communication and how we interact with the world at large. This tech altered the globe in ways we continue to grapple with, but it still doesnt tell the full story of digital di