ETN Secures $1.6 Million for European Tech News Expansion

Tech news outlet ETN has successfully secured $1.6 million in a seed funding round. The round was led by Powerhouse Capital and included participation from Axel Springer, alongside angel investors from OpenAI and DeepMind. This funding marks a significant investment in ETN's ambition to become Europe's preeminent technology news platform.

ETN has also increased its weekly live shows from two to five. Combined with over 5 million views across YouTube and X, this expansion signals growing popularity. Investor interest exceeded expectations, with the round becoming heavily oversubscribed, leading ETN to turn away some potential investors.

The capital raised is being used to build a state-of-the-art studio located near King's Cross in London. The team has been bolstered by notable hires, including former Bloomberg chief of staff Alexandra Best and the former head of video production at Tottenham Hotspur. Additionally, four former TBPN employees have joined ETN, underscoring their drive to assemble a top-tier European tech newsroom.

ETN's founders emphasize the advantages of their lean team and AI-powered operational model. Ronan Chambers, a co-founder, stated that their approach represents the next generation of newsrooms, capable of operating with greater efficiency compared to traditional media. This expansion occurs as Europe's startup ecosystem accelerates, with London startups alone raising substantial funding this year.

ETN aims to provide a platform for discussions on European technology, particularly AI, to keep pace with the ecosystem's rapid evolution. Their goal is not to compete with traditional journalism but to complement it, offering experts a forum to discuss key issues. They aspire to inspire future entrepreneurs by telling their stories, aligning with Europe's growing ambitions.