Seedcamp closes $320M across two funds, pivots to physical AI and embodied robotics in European deep-tech bet
London-based seed firm Seedcamp has raised $320 million across two funds—$220 million for flagship Seedcamp VII (22% larger than its 2023 predecessor) and $95 million for Seedcamp Nation II (follow-on fund). It is Seedcamp's largest raise in its 19-year history, reflecting a deliberate pivot away from horizontal SaaS into physical AI, embodied robotics, and science-adjacent applications where European deep-tech capabilities remain competitive.
The timing and thesis matter: Europe missed the LLM boom that fueled US fundraising recovery, but European VCs are doubling down on physical AI—autonomous systems, robotics, space manufacturing—areas where the continent has legacy strength. Seedcamp's new fund will target 35 companies yearly with tickets up to $1.3M, leading rounds in European startups with selective US/Israel exposure. Recent portfolio moves include BioOrbit (space manufacturing, $13.2M seed) and Sunrise Robotics (autonomous robotics), signaling the direction.
For builders in physical automation, this validates a thesis: as infrastructure commoditizes via custom silicon (AWS Graviton, Google Axion) and agent frameworks normalize, defensibility shifts to domain-specific embodied systems and proprietary training data. Seedcamp's check sizes and European focus suggest a 4–5 year cycle where horizontal SaaS incumbents face displacement by vertical, AI-first automation stacks.
Sources
- Primary source
- pitchbook.com
“London-based first-check investor Seedcamp has raised $320 million across two funds, its biggest raise yet, with physical AI a key focus for the new flagship vehicle. Of the fresh capital, $220 million will go to its flagship vehicle, Seedcamp VII, which is more than 20% bigger than its predecessor, which closed on $180 million in 2023.”
- pitchbook.com
“Europe largely missed out on the LLM boom, which has driven a fundraising recovery in the US. Europe, on the other hand, is suffering from a fundraising drought, which saw 2025 reach decade lows. However, some investors believe the next wave of opportunity is in physical AI, an area where European deep-tech capabilities are more competitive. This is where Seedcamp hopes to deploy some of its new capital.”
- pitchbook.com
“The firm has already begun investing in the intersection of AI, science and the physical world. In April, Seedcamp invested in the $13.2 million seed round of UK-based space manufacturing startup BioOrbit. It also counts Sunrise Robotics, an autonomous robotics developer, as a portfolio company.”