Europe's startup engine is running hot again. Sifted dropped data this morning showing 14 new unicorns minted in Q1 2026, the highest count in four years, with AI and defence doing the heavy lifting. That tracks with what we're seeing across the Nordics this week. Finnish industrial AI company Treon pulled EUR 6.8 million from Silicon Valley's ACME Capital. Sensofusion acquired an aircraft manufacturer to build airborne counter-drone systems from a former Finnish Air Force base. Telia swallowed the Telness MVNO but let the technology company walk free in one of the more creatively structured telecom deals we've covered. Mimir Group carved a fintech out of Swedbank and launched it as Everspring Solutions. And Helsinki's Willo, fresh off a Best of CES award, is building wireless power technology that could eliminate the last cable in robotics. Six stories. Three countries. One clear signal: Nordic tech isn't waiting for permission.

Tampere-based Treon closed a EUR 6.8 million Series A extension led by ACME Capital, the San Francisco VC that backs founders in aerospace, defence, and next-gen manufacturing. The investment accelerates Treon's push toward what it calls AI-native Maintenance Orchestration, transforming factories from reactive maintenance to autonomous operations. With 200+ customers across manufacturing, material handling, and logistics, the company plans to demo its Agentic AI Technician Companion at Hannover Messe later this month.

Helsinki deeptech startup Willo raised EUR 2.9 million in pre-seed funding led by byFounders for its alignment-free wireless power technology. The system charges devices over the air while they move and rotate, no docking required. Founded by ex-Microsoft, Nokia, and Oura veterans, Willo won CNET's Best of CES 2026 and is now building its first reference system for partners in robotics and industrial automation. Angels include Pleo's co-founder, Wolt's CPO, and Varjo's CEO.

Telia is acquiring the Telness MVNO from Nordic Communications Group, absorbing the subscriber base into its Swedish B2B business. The twist: founder Martina Klingvall's Telness Tech retains its Seamless OS platform and goes independent, signing a long-term technology agreement that makes Telia the first MNO to deploy the platform. Pending Swedish ISP approval.

Finnish counter-drone company Sensofusion bought aircraft manufacturer Atol Aviation and launched Sensofusion Aviation. The acquisition brings aircraft manufacturing capability to a former Finnish Air Force base in Halli, enabling airborne counter-drone surveillance that covers dramatically more area than ground-based systems. New products arrive in June 2026. Terms undisclosed.

Norwegian PE firm Mimir Group acquired PayEx's payments and loyalty platform from Swedbank and relaunched it as Everspring Solutions. Nelson Walden (ex-Visa Nordics/Baltics) takes the CEO role. PayEx retains a minority stake. The crown jewel: Medipay, a healthcare payments gateway operational in Norway with plans to scale across all Nordic markets.

Sifted Pro data shows 14 new European unicorns in Q1 2026, the highest quarterly number since early 2022. AI and defence are driving the surge, with Nordic companies increasingly in the frame. Finland's quantum and defence sectors, Sweden's AI ecosystem, and Norway's energy tech companies are all producing billion-dollar candidates. The revenue quality underneath these valuations looks structurally different from the 2021 vintage.