Two quantum computing researchers just raised €3.5M to fix AI’s runaway energy bill

techfundingnews.com Jun 24, 2026

Two quantum computing researchers just raised €3.5M to fix AI’s runaway energy bill

Curated by Shubham · TechCapsules · Jun 24, 2026

AI-summarised brief · reviewed before publication

Two quantum computing researchers have raised €3.5M in seed funding for their startup, Ora Computing, to develop a solution to reduce the high energy costs of running large AI models. The company aims to compress AI models, making them more efficient and cost-effective. Ora Computing has successfully compressed a 70-billion-parameter model in just a few hours for under $1,000, significantly reducing the cost. The startup's algorithm can cut memory use by up to 80% and make models up to four times faster while maintaining accuracy. This innovation has the potential to drive the next wave of AI adoption with more compact and efficient models.

💡 Why It Matters

· Ora Computing's technology addresses a critical pain point in the rapidly growing AI inference market.
· By enabling companies to run AI models more efficiently, Ora's solution can help reduce the financial and environmental costs associated with large-scale AI deployment.

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SPRIND Launches Quantum Sensing Initiative to Back European Projects and Startups

SPRIND, the German Federal Agency for Breakthrough Innovation, has launched a Quantum Sensing Initiative to fund and accelerate European quantum sensing projects and startups. The initiative aims to move lab-tested technologies toward real-world applications and strengthen the European ecosystem. It begins with two SPRIND Funken calls, Quantum-Driven Intelligence and QuantumSense Exploration, focused on data-driven sensing applications and new quantum measurement approaches. The program will support researchers, startups, and industry users, with funding available up to 200,000 euros in Stage 1 and up to 100,000 euros in Stage 2. Applications are open until September 6, 2026.

💡 By backing bold approaches, SPRIND's initiative can help European startups and researchers gain a competitive edge in the global quantum sensing market. Early investment in promising ideas can shape the development of quantum sensing technologies before markets and technical standards are established.

spacenews.com · Jun 24

Ubotica raises $11 million to scale maritime-intelligence platform

Ubotica Technologies, an Irish company specializing in artificial intelligence for spacecraft, has secured $11 million in funding to expand commercial sales of its maritime-intelligence platform, Live Maritime Intelligence (LMI). The platform enables satellites to analyze data and take action in orbit, automating tasking and removing the human-in-the-loop bottleneck. Ubotica's AI applications have been deployed on over 30 Earth-observation satellites, and the company is now poised to bring LMI to market at scale, providing real-time sentinel capabilities for Europe's waters.

💡 Nations can't afford to wait hours for imagery while a vessel goes dark over critical infrastructure, and Live Maritime Intelligence proves the value of on-board intelligence in real-time surveillance.

techcrunch.com · Jun 24

After betting the firm on Anthropic, Menlo Ventures raises victorious $3B fund

Menlo Ventures has announced its largest fund raise in its 50-year history, securing $3 billion in capital. The firm's investment in Anthropic, a model maker, has proven particularly successful, with its stake now valued at approximately $14 billion. Menlo's aggressive investment strategy, including a $750 million bet on Anthropic in 2024, has paid off, allowing the firm to expand its AI portfolio and establish itself as a leading investor in the field.

💡 The success of Menlo Ventures' AI-focused investments highlights the growing importance of artificial intelligence in the venture capital landscape. By backing early-stage AI startups and providing them with access to resources and expertise, Menlo is helping to drive innovation and growth in the sector.

thequantuminsider.com · Jun 24

Qubic Raises $2.5 Million Seed Round for Quantum Computing Hardware

Qubic has raised $2.5 million in seed funding to accelerate commercialization of its cryogenic amplifier technology and quantum sensing platform. The company's low-noise cryogenic amplifiers aim to reduce heat dissipation in quantum computing systems, addressing a key challenge in scaling quantum hardware. Funding will support amplifier development, manufacturing expansion, and team growth. The investment was led by Two Small Fish Ventures, with participation from UC Investments, Quantacet, and UCeed. Qubic's technology has promising applications in sensing and defense, with a significant total addressable market. The company plans to grow its team three-fold to achieve its milestones.

💡 Qubic's cryogenic amplifiers can significantly cut heat dissipation, overcoming a substantial roadblock in scaling quantum computing systems. By reducing thermal burden, Qubic's technology enables quantum computers to attain their full potential, unlocking new possibilities in computing and sensing applications.

engadget.com · Jun 23

A24 takes on Google money build AI tools

Google is investing $75 million in film studio A24 to develop AI tools, aiming to expand the future of entertainment. The multiyear deal excludes Google's access to A24's film and television library. The partnership will create tools to assist with filmmaking aspects, starting with AI-generated storyboards. A24's filmmakers will eventually have access to these tools, which are designed to be assistive, not replacement technology. A24 has had a successful year, with its revenue more than doubling in the past two years and being valued at $3.5 billion. The company's films, such as Backrooms, have been highly successful.

💡 The partnership's focus on assistive AI tools may alleviate concerns from filmmakers who dislike AI, like Kane Parsons. A24's reputation as a studio for emerging filmmakers who resonate with young audiences hangs in the balance.

spacenews.com · Jun 22

Astroscale raises funding to support growth strategy

Satellite servicing company Astroscale has secured 30.6 billion yen in funding to support its growth strategy, which involves transitioning from technology demonstrations to repeatable business. The company reported 11.5 billion yen in project income for its 2026 fiscal year, nearly double the 6.1 billion yen recorded in 2025. Astroscale is projecting steady revenue growth, but expects operating losses to remain similar to the previous fiscal year. The company is developing several missions, including refueling and end-of-life disposal of satellites, and aims to establish a supply capacity capable of supporting repeatable business.

💡 The funding boost will enable Astroscale to accelerate its shift towards commercial work, particularly among defense customers, and establish a long-term competitive advantage in the emerging field of on-orbit servicing. By securing repeatable business opportunities, Astroscale can move closer to its goal of making on-orbit servicing commonplace by 2030 and transitioning to a stable and highly profitable business model.