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Peter Sarlin’s QuTwo reaches $380M valuation in angel round

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QuTwo, the Finnish AI lab founded by former AMD Silo AI CEO Peter Sarlin, is now valued at €325 million (approximately $380 million) after raising a €25 million angel round ($29 million). It’s a sign of enduring tailwinds for AI, quantum computing, and sovereign tech, especially for Europe-made companies.

QuTwo’s name is a nod to quantum computing, but it hasn’t gone all-in on quantum. Its core product, QuTwo OS, is an orchestration layer that directs tasks to classical, quantum or hybrid architectures — with the idea that enterprise use cases are often best served by “quantum-inspired” computing, which uses classical chips to simulate quantum behavior on more reliable hardware.

Enterprise AI will be QuTwo’s bread and butter. The company already secured some $23 million in committed revenue thanks to design partnerships with the likes of retail giant Zalando, for which it helped develop AI assistants. “AI is the North Star that we will continue to aim for. Quantum is just a new type of compute,” said Sarlin, who is adamant that QuTwo is an AI company.

Momentum has been building around Europe-based AI labs, and several of them have become overnight unicorns. Just last week, former DeepMind researcher David Silver secured $1.1 billion for his new endeavor, Ineffable Intelligence. QuTwo’s valuation and round size are somewhat modest in comparison but will let it pursue its roadmap under less pressure.

According to Sarlin, who serves as QuTwo’s executive chairman, this was a decision he also made for his previous company, Silo AI, which AMD acquired for $665 million in 2024. “I had a lot of investors who would have wanted to pour a lot of money into making Silo into Europe’s OpenAI, but I didn’t believe in that play,” he told TechCrunch.

The main difference is that QuTwo wants the freedom to think long term, with a five- to ten-year horizon. “We are on a mission to build the globally leading AI company for the next paradigm, given that Europe did not succeed in building the AI company for this era,” Sarlin said.

It’s not that Sarlin is bearish on European AI, of which he is a prolific backer. Nor is he necessarily critical of extra-large rounds — he volunteered that he is also an investor in Yann LeCun’s Ami Labs, which raised $1.03 billion, and in British-American venture Recursive Superintelligence, which is rumored to be following the same path. But he didn’t see a billion-dollar round as the right fit for QuTwo — nor VC money, at least for now.

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Until recently, QuTwo was solely funded through Sarlin’s family office, PostScriptum, which also incubated NestAI, the other company where he serves as executive chairman. But whereas NestAI raised some $115 million in a funding round led by Finland’s sovereign fund and Nokia, QuTwo wasn’t seeking to raise external funding.

However, when the lab’s soft launch generated significant interest earlier this year, Sarlin decided he would say no to checks from VCs and strategic investors, but yes to an angel round in part due to the geopolitical moment Europe is currently navigating. 

With Europe increasingly looking to favor local alternatives to U.S. tech providers, there are tailwinds for AI made in Finland. But there is also investor appetite for a company that promises to facilitate more ambitious R&D initiatives in the fields where the region already has strong players, such as the automotive, life sciences and gaming sectors.

Conversely, Sarlin expects that QuTwo’s angel investors could open doors across Europe. There are definitely quite a few introductions he could request from this group, which includes Yuri Milner, Xavier Niel, Nico Rosberg, Dieter Schwarz and Niklas Zennström, and as well as many startup founders from Hugging Space, Legora, Miro, Skype, Supercell, Wolt, and more.

This will also support QuTwo’s growth. It recently expanded into Sweden, and has been hiring. According to Sarlin, some 50 quantum and AI scientists have joined the team, which includes two other second-time entrepreneurs: his former cofounder at Silo, Kaj-Mikael Björk; and Kuan Yen Tan, a cofounder at IQM, the Finnish quantum company that is set to go public.

QuTwo’s connection with IQM is also a reminder that the company believes we are about to enter the quantum era — it just can’t wait. “The question for repeat founders like [us] is how can we have even a larger impact. In the long term, it’s important for Europe that we build the AI company for the next paradigm out of Europe. But, in the short term, we can have a significant impact in driving ambitious R&D moon shots in Europe,” Sarlin said.

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Health

Ebola outbreak spreads to 61 health zones in DRC — WHO

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The Ebola outbreak in the Democratic Republic of the Congo (DRC) has continued to spread geographically, with the World Health Organisation (WHO) reporting cases across 61 health zones in six provinces.

The WHO disclosed this in its latest outbreak situation update issued on Thursday, saying the outbreak had expanded to Kayna Health Zone in North Kivu.

The affected provinces are Bas-Uélé, Haut-Uélé, Ituri, North Kivu, South Kivu and Tshopo.

Transmission remains a concern

According to the latest WHO update, transmission patterns remain variable, with evidence of continued geographical expansion and sustained increases in cases across some affected health zones despite ongoing response efforts.

The agency said delayed detection remained a major concern, increasing the risk of further transmission within households, communities and healthcare facilities.

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It said limited access to early treatment and difficulties in interrupting transmission were also contributing to the challenges faced by the response.

In addition, the WHO said these challenges required strengthened surveillance, rapid response measures and early treatment to help interrupt transmission.

As of 7 September, the DRC had recorded 6,757 confirmed Ebola cases caused by the Bundibugyo virus, including 3,267 deaths.

The figures represent a crude case fatality ratio of 48.3 per cent, according to the WHO.

Outbreak challenges

The latest development comes less than a month after the WHO described the outbreak as the second-largest Ebola outbreak on record.

At the time, 4,449 confirmed cases had been recorded across 53 health zones in five provinces.

The WHO had also warned that the outbreak was spreading faster than previous Ebola outbreaks at the same stage and was on course to potentially surpass the 2014–2016 West African outbreak, which remains the largest recorded Ebola outbreak.

The outbreak is caused by the rare Bundibugyo species of Ebola virus.

READ ALSO: UK increases Ebola response funding to £78.7m

Unlike the Zaire species, which has caused several previous Ebola outbreaks and for which the Ervebo vaccine is used, there is currently no licensed vaccine specifically approved for Bundibugyo virus disease.

In August, the WHO said a high proportion of cases were being detected in communities rather than treatment centres and outside known contact lists, suggesting that some chains of transmission remained unidentified.

The agency had said response measures included contact tracing, treatment centres, safe burial teams, laboratories and community engagement activities.

The WHO said the continued geographical expansion of the outbreak highlights the need to strengthen surveillance and ensure early detection and treatment, particularly in affected communities and healthcare facilities.


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9 Goals in 9 Games: Nigerian Striker Okiki Akinwande Gets Slovakian Top-Flight Chance

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Nigerian striker Okiki Akinwande has earned a major opportunity to test himself in European top-flight football after completing a loan move to KFC Komárno in Slovakia from Czech side MFK Karviná.

The 19-year-old centre-forward has joined Komárno until the end of the 2026/27 season, with the Slovakian club confirming the arrival of the promising Nigerian attacker as part of their squad reinforcement.

Akinwande arrives in Slovakia after making a strong impression in the Czech youth system. The 1.92m striker scored nine goals in nine matches for Karviná’s youth side, underlining his finishing ability and providing the platform for his move into senior football.

He also made his senior debut for MFK Karviná B in the Czech third-tier MSFL, featuring in the 2025/26 campaign before making another appearance at the beginning of the current season. Official league records list him with four MSFL appearances and 154 minutes overall.

Now, Akinwande faces a significantly bigger challenge in the Niké Liga, Slovakia’s top division, where he will have the opportunity to compete against established professional teams.

His move to KFC Komárno is viewed as an important development step, allowing the Nigerian forward to gain valuable senior experience and adapt to the physical and tactical demands of first-team football.

Komárno, based in southern Slovakia, have strengthened their squad with young African talent ahead of the ongoing campaign, with Akinwande joining Ghanaian winger Emmanuel Oppong as the club’s latest additions.

For Akinwande, the loan represents a chance to turn his impressive youth-level scoring record into senior-level performances.

The Nigerian will now look to establish himself in Slovakia, compete for regular playing time and show that his goalscoring form in the Czech youth league can translate to the professional stage.

At 19, the striker has already taken an important step from academy football into senior European competition.

Nine goals in nine youth games earned him the opportunity — now Okiki Akinwande has Slovakia waiting.

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