Braincube Raises €83 Million Led by Scottish Equity Partners

Braincube, a French company that uses artificial intelligence for manufacturing analytics, raised €83 million ($90.9 million) in a round led by Scottish Equity Partners.

French state investment bank Bpifrance also participated in the round, Braincube said in a statement on Wednesday.

The investment shows the continued interest in AI applications even as funding for startups in Europe has stumbled. Europe is on pace for $45 billion in tech investing in 2023, down from the $82 billion the previous year, according to a report this week from venture capital firm Atomico.

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