Deals & News
Schneider Electric, a French energy technology firm, has committed to acquiring Shelly Group, a Bulgarian manufacturer of smart home and internet-of-things devices. The transaction is structured as an all-cash offer valuing Shelly at €1.2 billion. Under the terms, Schneider will pay €70 per share for stakes it does not yet control, representing a 27% premium to Shelly's reference price of €55.20. The company's two founders, Dimitar Dimitrov and Svetlin Todorov, collectively own approximately 57% of Shelly. The offer requires 95% shareholder acceptance and regulatory clearance from Bulgaria's Financial Supervision Commission and competition authorities. The deal is anticipated to conclude by the end of the first quarter of 2027.
CDN77, an internet infrastructure company based in Prague, has brought in CVC Capital Partners as a minority investor. The transaction's financial specifics remain undisclosed, though Reuters reported the valuation at roughly $1.9 billion (€1.7 billion). Zdenek Cendra, the founder and chief executive, maintains his controlling interest and will continue leading the company. Since its 2011 founding, CDN77 operates a global infrastructure spanning more than 230 locations with 330 terabits per second of capacity and has maintained positive cash flow for 11 consecutive years. The company is targeting approximately $270 million (€250 million) in revenue this year, a rise from $218 million (€201 million) achieved in 2025.
FintechOS, a Romanian-founded enterprise, has completed a €26.5 million financing package combining equity and debt instruments. Bek Ventures, the International Finance Corporation, Cipio Partners and Molten Ventures supplied equity capital, while Santander CIB contributed a senior debt facility. The company develops an artificial-intelligence-powered layer enabling banks and insurance firms to modernise outdated core systems. FintechOS achieved profitability during the first half of 2026. The capital will support expansion into the United States, where the business expanded 130% over the preceding year, and strengthen its European footprint. Since launching in 2017, the company has accumulated nearly €170 million in total funding.
mika, established by Polish entrepreneur Agnieszka Walorska, has completed a €6 million (equivalent to $6.85 million) seed financing round anchored by Smedvig Ventures. Wecken & Cie. (operating through Care4 AG), Keen Venture Partners and Dutch Founders Fund participated alongside angel investors including studiVZ co-founders Dennis Bemmann and Michael Brehm. Launched in 2024, mika streamlines bookkeeping, value-added tax filings, annual financial statements and tax submissions for German limited liability companies, with in-house accountants validating the artificial-intelligence-generated outputs. The platform currently serves more than 750 German GmbHs and UGs, climbing from 400 entities at the beginning of the year, and surpassed a €1 million annual revenue run rate in July.
Estonia's Defence Forces have entered into a three-year partnership framework with Archangel, a venture capital fund established in 2025 that invests in early-stage defence technology companies from the United Kingdom, the Baltic region and Nordic countries. Major Ivo Peets, commanding the EDF's Force Transformation Command, and Archangel founder and managing partner Nicholas Nelson executed the agreement at the ABCD Conference. The partnership will facilitate knowledge and contact exchange among military personnel, defence-focused startups and investment firms. Portfolio companies will gain access to testing opportunities within Estonia. Archangel's current holdings encompass Kraken Technology Group (autonomous maritime systems), Labrys Technologies, Project Q, LYSK, Offset Labs and Sky Spy.
Funds supporting CEE
Forty.5 Ventures has completed its inaugural fund with $30 million in commitments targeting pre-seed and seed-stage entrepreneurs across Southeastern Europe. Investment cheques will span $200,000 to $1 million, concentrating on specialised artificial-intelligence applications, financial technology, cybersecurity and consumer-facing sectors including gaming, sports, media and creator economy infrastructure. The firm maintains offices in Belgrade, Los Angeles and Singapore, drawing limited partners from family offices, angel investors and operational leaders across Europe, North America and the Asia-Pacific region. Forty.5 was founded in 2020 and has functioned as both a studio and investor since inception. Its existing portfolio features qooob, OTLRS, Arena+ and ANDEIM.
