Analysis of M&A and Fundraising Deals on November 12, 2026

Oura acquires Counsel Health: the smart ring wants to become your primary care physician

Source: borskollen.se → · Sector HealthTech & Digital Health — 📬 subscribe to the HealthTech & Digital Health newsletter

Oura, a Finnish company founded in Finland but now headquartered in San Francisco, designs smart rings that continuously measure heart rate, sleep, and physical activity. Until now, the device collected data; it prescribed nothing.

The stated goal is to integrate Counsel Health's services directly into the Oura app, so that a user whose ring detects an anomaly can consult a doctor without leaving the ecosystem. Biometric data becomes a potential prescription.

What the price says about the strategy: Oura, valued at $11 billion at the end of 2025 and whose IPO was postponed last September due to an unfavorable window, is spending the equivalent of more than 5% of its value to acquire not a competitor but a medical capability. This is a bet on regulation as much as on technology — if US health authorities ever validate a care pathway driven by a wearable sensor, Oura will already have the infrastructure. If they don't, this acquisition remains a very expensive option cost.

Germany acquires a €6.6 billion stake in KNDS

KNDS, a Franco-German group formed from the merger of Krauss-Maffei Wegmann and Nexter, notably manufactures the Leopard 2 tank, deployed in several European armies.

The stated rationale is political as much as industrial: Berlin wanted to have equal weight with Paris in the group's strategic decisions, and avoid being outvoted on export choices or program development.

This move illustrates a logic that goes beyond simple financial investment: European states are re-internalizing control of their defense industries as defense demand becomes structural again. For a defense industrialist or a fund investing in this sector, the signal is that strategic assets in this area tend to be locked up by sovereigns before reaching the market.

Raenest acquires Remitise: an FCA license bought, not leased

Source: techpoint.africa → · Sector FinTech — 📬 subscribe to the FinTech newsletter

Raenest, a financial platform that allows individuals and businesses to send, receive, spend, and manage money internationally, acquires 100% of Remitise, a UK payment company registered with the Financial Conduct Authority. The amount is not disclosed.

Raenest already holds licenses in Canada (Money Services Business and Payment Service Provider) and Nigeria (International Money Transfer Operator). The acquisition of Remitise gives it a direct regulatory foothold in the UK, a central market for international payment flows.

Strategic interpretation: owning a regulated entity rather than relying on a third-party partner structurally changes Raenest's position vis-à-vis its customers and competitors — the license becomes a balance sheet asset, not an operational dependency. For an African or emerging fintech targeting Europe, this is the shortest path to institutional credibility.

Gustoso takes 75% of Familie Wiesner Gastronomie: 250 restaurants, half a billion in revenue

Source: rollingpin.com → · Sector Food & AgTech — 📬 subscribe to the Food & AgTech newsletter

The transaction amount is not disclosed.

The first announced expansion move is the launch of Nooch in Germany in 2027, a market where Gustoso is already established and therefore has operational and real estate networks.

The structure — majority acquired, founders retained in control with a residual interest — is the classic model for consolidating independent catering: the brand and the operator are bought at the same time, without risking the cultural rupture that often kills these integrations.

Ondas acquires Stemme: a military drone disguised as a civil glider

Ondas, an American group whose Ondas Sentinel division develops military surveillance drones, acquires the entire capital of Stemme, a German motor glider manufacturer based in Strausberg. The price is not disclosed; closing is expected in the first quarter of 2027.

The industrial link is direct: the Ultra drone developed by Ondas Sentinel is built on the airframe of the certified Stemme S12 glider, already used by the US Air Force. Ondas aims for a production rate of ten Ultra aircraft per month by 2028, which requires securing and expanding manufacturing capabilities in Strausberg and Pasewalk, while also creating additional capabilities in the United States. Stemme will continue to sell the S12 to private customers and provide maintenance for its fleet.

Strategic interpretation: by integrating its airframe supplier, Ondas controls the bottleneck in its military production chain. The civil certification of the S12 is a regulatory asset that acquiring a drone startup would not have provided.

Kohl Medical acquires Livica: consolidating homecare before the market does it for them

Source: apotheke-adhoc.de → · Sector HealthTech & Digital Health — 📬 subscribe to the HealthTech & Digital Health newsletter

The seller is Publicare, a subsidiary of the American group Hollister. Closing is expected before the end of 2026, subject to approval by the Bundeskartellamt.

Kohl thus strengthens its homecare division alongside Provita Arndt, a provider it has owned since 2017 and which primarily covers northern and western Germany. Livica brings national coverage and expertise in therapeutic nutrition, identified as having high growth potential.

The logic is demographic as much as sectoral: homecare grows mechanically with aging, and a dense national network is a barrier to entry that smaller players cannot quickly overcome. Kohl is positioning itself before sector consolidation makes these acquisitions more expensive.

Serescentia acquires ENS: first building block of a nutraceutical platform

Source: tecnomedicina.it →

ENS has its own brands and established relationships with the medical community.

Serescentia announces two other targets already identified in Italy and is evaluating opportunities in Europe, with the ambition of building an industrial and commercial platform in the "longevity economy."

The size of ENS — less than 400,000 euros in revenue — indicates that this acquisition is not a revenue acquisition but an acquisition of rights: brands, a portfolio of formulations, and a medical network. It is the first piece of a consolidation structure whose value will be in the assembly, not in each individual building block.

Marventa Group acquires Holland Nautic

Source: schuttevaer.nl →

Marventa Group, which already includes Electro Service Urk (ESU) and Naval Machinery Urk (NMU), acquires Holland Nautic, a Dutch specialist in marine electronics and navigation systems. Holland Nautic retains its name and its own business. The amount is not disclosed. The operation strengthens Marventa's position in the marine equipment and services chain in the Netherlands.

Rapleys acquires Northmill Associates

Source: placenorthwest.co.uk →

Rapleys, a UK property consultancy with offices in London, Birmingham, Bristol, Cambridge, Cardiff, Edinburgh, Huntingdon, and Manchester, acquires Northmill Associates, a 14-person architecture firm founded in 2016 in Manchester by Ged Connor and Ian Grice, specializing in architecture for the public sector and roadside buildings. Northmill will continue to operate under its own name as part of Rapleys' building consultancy division. Connor and Grice join Rapleys as partners.

This is Rapleys' sixth acquisition in a few years, following CSJ (planning consultancy), BlueBrick Consultancy (building expertise), Aston Rose, Mellersh & Harding, and Avison Young's retail/hospitality and capital markets teams. Rapleys' Manchester headcount now reaches 36 people.

Agiliti Group acquires Forward Waste Management

Source: business-sale.com → · Sector Climate & Energy Tech — 📬 subscribe to the Climate & Energy Tech newsletter

Agiliti Group, based in Cannock, acquires Forward Waste Management, a Welsh company specializing in the management of complex industrial and manufacturing waste, founded by Lyndon Ward. Forward operates a recycling facility and a hazardous waste transfer station in Cardiff, and integrates Enviroquip, a manufacturer of waste handling and compaction equipment in Barry. Ward and his team remain in place.

The operation extends Agiliti's geographical coverage and provides it with specialized capabilities in heavy industrial waste, a segment with high regulatory and technical barriers.

Zinzino acquires Uzesta

Source: di.se →

The acquisition amount is not disclosed. The operation strengthens Zinzino's presence in the North American market.

Vissers Ploegmakers acquires BouwOort after nearly 100 years of family ownership

Source: transport-online.nl → · Sector Mobility & Transportation — 📬 subscribe to the Mobility & Transportation newsletter

Vissers Ploegmakers, a family business, acquires BouwOort — which comprises Betonmortel Centrale Oss B.V. and Van Oort's Betonmortelcentrale (O.B.C) B.V. in Lithoijen — after brothers Antoine and Hans van Oort, third generation, decided to sell the company due to a lack of family succession. BouwOort retains its name, employees, and concrete production activity. Operational management will be taken over by Gijs Homan, director of InfraHUB B.V., a sister company of Vissers Ploegmakers. The two companies had known each other for years as neighbors and already collaborated via BovOss B.V.

H.M. Verploegen acquires Croonen Transport

Source: nt.nl → · Sector Mobility & Transportation — 📬 subscribe to the Mobility & Transportation newsletter

H.M. Verploegen, a family transporter from Wijchen, acquired Croonen Transport, a family transporter from Nijmegen, on November 1. Croonen had existed for eighty years. Financial details are not disclosed.

Vaeridion raises €124 million for a nine-seater electric aircraft

Source: avi-go.com →

Vaeridion, a Munich-based electric aviation startup, is developing the Microliner, a nine-passenger aircraft with a glider-inspired wing, multi-engine propulsion, and patented integrated modular batteries, targeting a range of 400 km in IFR configuration. The company announces total funding of over €124 million, consisting of €30 million in equity (Series A2, led by SHIFT Invest and Invest-NL, with World Fund, Project A, Vsquared Ventures, and founder Alexander Rittweger) and a European grant of €94.5 million via the EU Innovation Fund for the CAROLUS project, intended to finance a final assembly line at Oberpfaffenhofen Airport. The signing of the grant agreement is expected in 2027.

Vaeridion claims provisional purchase commitments for over 130 aircraft worth more than €730 million, with ASL Group as the launch customer. KLM, BayernLB, and TrueNoord sit on its market advisory board. The company has completed its preliminary design review.

The funding structure reveals the true state of the sector: 76% of the announced envelope is public money, and the 130 orders are described as provisional agreements by Aviation International News, not firm orders. Battery energy density remains the unresolved technical bottleneck — a professor from Eindhoven University of Technology cited in the sources does not expect a commercial electric aircraft for 9 to 20 passengers before 2035. This round funds the demonstration, not yet the entry into service.

Tendrils raises €26 million to reinvent processor architecture

Source: eu-startups.com → · Sector The Physical World — 📬 subscribe to the The Physical World newsletter

Tendrils, a semiconductor startup founded in 2025 in Cambridge by Nils Cremer, is developing a new general-purpose processor architecture designed to run thousands of cores in parallel. The approach is based on "interaction nets," a computational model Cremer studied at ETH Zurich. The company raises €26 million (approximately $30 million) in a Seed funding round, led by Benchmark with participation from Visionaries Club, the UK Sovereign AI Fund, FR8, Antimatter, Cloudberry VC, Conviction, Embassy Ventures, and SV Angels. Jack Altman, partner at Benchmark, joins the board of directors.

Co-founder T6 developed Vine, an open-source programming language built around interaction nets; Hugo McNally contributed to OpenTitan at lowRISC.

This round comes in a context of several hundred million euros raised in 2026 by alternative computing architectures in Europe (OLIX, Optalysys, Callosum, Openchip, EUCLYD). The presence of the UK Sovereign AI Fund alongside Benchmark — a rare combination of public capital and top-tier American venture — signals that sovereignty over computing architectures is now an issue of industrial policy, not just market.

Switchpoint Bio raises €4.75M to read epigenomic marks in blood

Source: eu-startups.com →

Switchpoint Bio, a startup founded in 2025 in Helsinki and Cambridge (Massachusetts) by Samuel Myllykangas and Jason Buenrostro — a Harvard researcher, director of the epigenomics program at the Broad Institute, and inventor of ATAC-seq — develops an epigenomic profiling platform from blood samples. The goal is to provide drug developers with a tool to measure how a disease and treatment modify human biology at the level of circulating immune cells, repeatedly and at scale. The company raises €4.75 million in pre-Seed funding, of which €4.48 million comes from Treehouse Delmar Investments.

Myllykangas previously founded and developed Blueprint Genetics, acquired by Quest Diagnostics in 2020. The founding team also includes experts in bioinformatics and computational biology.

The value proposition is precise: not to diagnose a disease, but to measure what changes in a patient's biology before, during, and after treatment — information that clinical trials currently struggle to capture systematically. If the platform delivers on its promise of scale, it targets pharmaceutical companies looking to understand why some patients respond and others do not.

Sparxity: $90 million for chips that only compute what matters

Source: fr.finance.yahoo.com →

Sparxity, a German startup founded in Dresden, develops "sparse-native" computing systems: its chips and architectures are designed to activate only the parts of an AI model that are actually useful for each computation, rather than running the entire network continuously. The company closes a Series A round that brings its cumulative funding to $90 million. The round is led by ICM HPQC Fund, with participation from Lockheed Martin Ventures, GlobalFoundries, GS Futures, Cloudberry Ventures, TGFS, and the EIC Fund, as well as business angels including Richard Socher and Nancy Xu.

Sparxity relies on three chip manufacturing cycles ("tapeouts"), over 70,000 chips produced, and 12 racks deployed at more than 30 customers, including supercomputing centers. Its revenue quadrupled between 2024 and 2025. The funding is intended to accelerate the development of specialized chips aiming for up to 44 times faster inference on ultra-sparse models.

The presence of Lockheed Martin Ventures and GlobalFoundries (semiconductor foundry) in the round is not insignificant: it signals that dynamic sparsity interests defense applications as much as commercial cloud, and that the manufacturing chain is already under discussion. For an industrial player looking to reduce its computing energy bill, Sparxity offers an architectural alternative to buying additional GPUs.

ION Video raises $692,000 ahead of Nordic data center trial

Source: dealroom.co → · Sector Media & Entertainment — 📬 subscribe to the Media & Entertainment newsletter

ION Video, an Australian company listed on the ASX (IOV), develops video virtualization technology that it claims can reduce video file sizes and lighten the load on data centers.

This placement precedes a validation trial in Nordic data centers, in which Priority Impact will play a role in connecting with operators such as Telia and Fossefall. Swinburne University is independently conducting tests on the claimed performance (30% increase in capacity, 30% reduction in operational costs), with preliminary results expected by the end of January 2027. ION remains in the pre-revenue phase, with $2.28 million in cash at the end of September.

Rosengren's investment is strategic as much as financial: by acquiring a stake, he aligns his interests with ION's to drive the commercial validation process in the Nordic region. The real test will be Swinburne's results — without them, discussions with Telia and Fossefall remain conditional.

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