Good morning there,

As chaos hits the public markets and economists predict a global recession by year end, investors are looking for silver linings: “As in every crisis, now is the best time to found a company,” Benjamin Erhart, partner at German-based VC UVC Partners, tells Sifted.

It’s hard not to feel like we’re living in a giant game of snakes and ladders — and have just slid down a few levels. Wasn’t 2023 also the best time to start a company? Or was that 2021? Will we ever make it all the way to the end, when it presumably becomes a good time to sell a company? 

As always, we want to hear from our readers — and make this newsletter a two-way conversation. Let us know what’s on your mind, and if you agree or disagree with the investors we spoke to about market conditions and the impact of Trump’s tariffs on European VC.

Elsewhere:

• Running a business while pregnant: what it’s really like 
• Monzo’s CFO on its long-awaited IPO

Look who’s talking: Sifted Summit

Introducing the first 30 speakers for Sifted Summit 2025. From the page to the stage: meet 200+ founders, VCs and operator speakers covering the biggest trends for high growth businesses. With more names to be announced soon — here’s the first look!

Secure your super early bird ticket before they go.

❗ Revolut slapped with €3.5m fine after failing to tackle money laundering, regulator says.

📣 Anthropic plans to hire more than 100 new recruits in Europe, just as an AI talent crunch hits the region. 

👋 British Business Bank, one of Europe’s most active LPs, has retired its British Patient Capital sub-brand. 

📉 Donald Trump’s punishing trade tariffs could drain European VC funding and see some startups’ valuations slashed, investors tell Sifted. 

🕺 “We’ll make a great public company one day,” Monzo’s new CFO Tom Oldham — formerly of Nubank — tells Sifted.

🤰 Running a business while pregnant: What it’s really like. 

⭐ Meet the women founders behind the UK and Ireland's fastest-growing startups.

Sifted Talks | Online. Customer trust is the ultimate competitive advantage in fintech but how do you build and maintain it while scaling? On April 23, fintech reporter, Tom Matsuda, will speak with industry experts about how fintechs can turn transparency, security and compliance into growth drivers. RSVP here.

Sifted Talks | Online. AI is transforming workflows across industries, pushing startups to innovate faster than ever. On April 30, senior reporter Kai Nicol-Schwarz will discuss with our expert panel where AI is delivering real value, the common pitfalls founders should avoid and how startups can integrate AI responsibly for long-term success. RSVP here.

Take a flight through the future airport of 2050

Missed out on last year's Airport Innovation Days? Here's your boarding pass to the future of flying, where you can learn about some of the best startup innovations in flying — from new types of aircraft to smart airport systems that leverage AI.

Munich, Germany-based Hawk, which provides AI-powered anti-money laundering (AML) and fraud prevention solutions, raised €51.8m in Series C funding. One Peak led the round and was joined by investors including Macquarie, Rabobank, BlackFin Capital Partners, Sands Capital, DN Capital, Picus and Coalition.

London-based Untamed, which provides direct-to-consumer subscription cat food, raised €11.6m in Series B funding. Coefficient Capital led the round and was joined by investors including Five Seasons Ventures and Redrice.

Paris-based Qevlar AI, a cybersecurity company developing autonomous security operations centres, raised €9.1m in funding. EQT Ventures and Forgepoint Capital co-led the round and were joined by investors including Olivier Pomel, Florian Douetteau and Mehdi Ghissassi.

Warsaw-based Ingenix, a healthcare AI company developing a model for simulating clinical trials, raised €9m in seed funding. Inovo.vc led the round and was joined by investors including OTB Ventures and the International Finance Corporation.

Manchester, England-based Vypr, a product intelligence platform, raised €5.8m in funding from investors including YFM Equity Partners.

London-based Dealstack, which automates private capital operations, raised $5.5m in seed funding from investors including Paul Weiss, Kirkland & Ellis, Latham & Watkins, KKR, CVC, TA Associates and Goldman Sachs.

Stockholm-based Starhive, an IT asset and service management platform, raised €4.5m in pre-Series A funding. Ventech led the round and was joined by investors including Node.vc.

Edinburgh-based Podfather, a fleet management software group, raised £3.4m in funding from investors including Maven Capital Partners.

Linköping, Sweden-based Polar Light Technologies, a quantum opto-electronics developer, raised €3.1m in funding from investors including Stoaf SciTech, Bo Eklöf, Almi Invest, Sustainable Energy Angels, Butterfly Ventures, Liu Invest and J2L Holding.

London-based Osstec, which uses 3D printing technology aimed at improving joint replacement implants, raised £2.5m in funding. Empirical Ventures led the round.

London-based Nettle, an AI-powered risk assessment platform, raised £1.45m in pre-seed funding. Project A led the round.

Castellón, Spain-based Inversiva, which specialises in passive real estate investment, raised €1.2m in funding from investors including BeWater and Faraday Ventures.

If you’d like to submit a deal, get in touch. 

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Female founders pitch event 📣

Join the Female Founders Summit organised by Businettes on 30 April. This event designed by female founders, for female founders looks to open doors to investors, networks, and opportunities that can help take businesses to the next level. Female founders & investors grab your tickets today with Sifted's unique discount link.