European Startups Draw Fresh Funding Across MedTech, Robotics and Insurtech

Enigma secures $71 million for robotics foundation models

Enigma has raised $71 million in seed funding to develop foundation models for robotics, in what Ventureburn described as one of the largest seed rounds for a physical AI company. The round was co-led by Index Ventures and Ribbit Capital, with participation from Conviction Partners and individuals from companies including OpenAI, Anthropic, DeepMind, xAI, Cognition and Wiz.

The round was completed roughly 11 months after the company's formation. Enigma said the proceeds will be used to grow its research and engineering talent, scale its computation capabilities and deploy its technology in more operational environments. CEO Josh Matter said the investment reflects confidence in the company's mission to bridge the physical world and an increasingly digital reality.

Ominimo reaches $1.6 billion valuation

Budapest-based insurtech Ominimo raised $22.5 million in a Series B round, reaching a valuation of $1.6 billion within two years of launching, according to Ventureburn. Founded in 2024 by Dusan Komar, Dennis Weinbender, Laslo Horvath and Kristina Kozina, the company focuses on motor insurance using modern data, process automation and AI.

Ominimo currently operates across Hungary, Poland, the Netherlands and Sweden, with plans to begin operations in Belgium and Romania, followed by Spain, Italy and France. The company aims to launch in the United States by 2027 and is pursuing its own insurance licence; it currently operates as a managing general agent handling pricing, customer acquisition and claims management while partner insurers carry the underwriting.