AIFundingStartups

Lithuanian AI Platform Secures €30M to Tackle Enterprise Adoption Hurdles and Shadow AI Risks

Vilnius-based nexos.ai has closed a €30 million Series A round co-led by Evantic Capital and Index Ventures. The all-in-one AI platform aims to solve critical enterprise adoption barriers including security vulnerabilities, uncontrolled costs, and governance gaps that plague organizations implementing AI solutions.

Major Funding for European AI Infrastructure

Lithuanian startup nexos.ai has reportedly secured €30 million in Series A funding to accelerate enterprise AI adoption while addressing what sources describe as the growing “Shadow AI” challenge within organizations. According to reports, the Vilnius-based company aims to remove critical blockers preventing large-scale AI implementation across enterprises.

AcquisitionsBusiness

Kering CEO Announces Strategic Revamp Following €4 Billion Beauty Business Sale to L’Oréal

Kering’s newly appointed chief executive has committed to swift organizational changes following the completion of a €4 billion beauty business sale to French cosmetics giant L’Oréal. The luxury group plans to refocus on its core fashion brands while addressing investor concerns about debt levels and market positioning.

Major Strategic Shift for Luxury Conglomerate

Kering‘s newly installed chief executive Luca de Meo has pledged rapid and sweeping changes to the luxury group’s structure and strategy, according to reports, following the completion of a €4 billion deal to sell its beauty operations to L’Oréal. The executive, who recently joined from automotive manufacturer Renault where he engineered a significant turnaround, indicated this transaction represents just the beginning of his transformation agenda for the Gucci-owner.