Gyre Energy raises $1.3m to make the world’s cold stores work less when power costs most
Investors and funding
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ARTIFICIAL INTELLIGENCE
Skello raises €200M and its founders end up owning more of the company
Paris-based Skello has raised €200m led by Bridgepoint to expand its AI HR software for frontline teams. In a rare twist for a round this size, the profitable, female-founded startup’s founders increased their stake, and the cash is earmarked for a European acquisition spree.
INVESTORS AND FUNDING
Nscale closes a $900m revolving credit facility to fund its data-centre build-out
A dozen banks, from J.P. Morgan to KeyBank, backed a standing credit line for the two-year-old AI cloud. The pricing was not disclosed.
ARTIFICIAL INTELLIGENCE
SAP freezes hiring and travel to shovel cash into AI
SAP has told staff it will freeze most hiring, halt non-essential travel and cut supplier spending to fund a “significant” AI push. The memo lands with Europe’s largest software company down about 33 per cent this year, as investors worry AI will erode demand for its core products.
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