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News: At @Davos (where the world’s tech luminaries are currently stepping on each others' cold toes), German AI business incubator @Merantix will announce this afternoon at @techparkdavos that it has raised €25 million to found six to eight new AI startups in Berlin.
The majority of €€€ in the fund are actually $$$, coming from American investment fund Trusted Insight as well as philanthropic groups, namely the Robert Wood Johnson Foundation and W.K. Kellogg Foundation, topped up by additional money from unnamed European family investors.
The announcement comes as entrepreneurs and politicians in Germany warn that a lack of technology funding could slow innovation and put the country behind the United States, China and other trade rivals.
"More and more foreign investors are actively looking to Europe, specifically when it comes to AI,” @rasmusrothe told us, adding that the interest was "particularly [from] the Americans but increasingly also the Chinese." More: (for Pro subscribers)https://www.politico.eu/pro/german-ai-incubator-25-million-for-berlin-based-startups/ …
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