Meituan Releases New AI Model Trained Entirely on Chinese Chips — The Information

• The UK has reached a record 80 "unicorn" businesses—startups valued at $1 billion or more—ranking it third globally. • According to a report by the Hurun Research Institute, 23 new unicorns were created in the UK over the past year.

• The UK reached a record milestone in 2026 with 80 tech unicorns, collectively valued at £242 billion. • Despite the growth, a significant gender gap persists, as only 8 out of 136 founders (approximately 6%) are women.

• London-based Tapestry VC has closed its third fund, securing $80 million to invest in experienced European entrepreneurs. • The firm is specifically targeting "repeat founders," betting that the current wave of AI-driven exits will create a new generation of seasoned leaders.

• The July 2026 Open Source AI report highlights a shift where open-source tools are now accessible to a broader range of business users, not just developers. • Key benefits identified include increased control over operational costs, reduced vendor lock-in risk, and enhanced customization capabilities for AI models.

• The European Union reported the sale of €414 billion worth of high-tech products in 2024, according to data from Eurostat. • These figures are part of the 2026 edition of "Key figures on European business," which tracks business activities, investment, productivity, and technology across EU and EFTA countries.

• Aligned has raised $60 million in a Series B funding round led by PeakSpan Capital, with participation from Hetz Ventures, JAL Ventures, and NFX. • This latest investment brings the company's total funding to date to $73.8 million.

• London-based Tapestry VC has launched Fund III with a total of €70 million ($80 million), co-anchored by the British Business Bank. • The new fund aims to double the firm's scale and specifically target repeat founders at the Seed and pre-Seed stages in Europe.

• The July 2026 DeepTech in Europe report identifies emerging trends in funding, talent acquisition, and the growth of regional innovation hubs. • While France, Germany, and the UK remain the dominant players, second-tier hubs in the Netherlands, Switzerland, Spain, and the Nordics are showing significant growth.

• The UK maintains its position as Europe's strongest startup ecosystem, ranking second globally according to StartupBlink’s July 2026 data. • The UK's ecosystem score is significantly higher than its peers, nearly doubling that of Sweden and more than doubling Germany's score.

• Ireland has secured €10 million in joint funding from the Irish Government and European partners to establish the AIF IRL-Antenna. • This national initiative serves as a gateway to Europe’s AI network, designed to accelerate the adoption and innovation of artificial intelligence across the country.

• The GITEX AI EUROPE 2026 event took place in Berlin, focusing on the integration of artificial intelligence, digital innovation, and the role of start-ups in shaping Europe's future. • Industry experts and participants discussed strategies to enhance European competitiveness through the adoption of modern technologies and the fostering of new international partnerships.

• A recent court victory for Donald Trump has reignited concerns among European privacy advocates regarding the €1.7 trillion data-sharing agreement between the U.S. and EU. • Privacy groups argue that Trump's ability to fire regulators undermines the independent oversight necessary to protect European citizens' personal data from U.S. surveillance.