European Tech Network Secures $1.6M Round to Launch Daily Live Operations
The London-based media startup is scaling to a five-day live schedule following investment from Axel Springer and OpenAI backers. Founders Luke Knight and Ronan Chambers aim to catch up with the continent's accelerating venture capital activity.
Capital Injection Fuels Rapid Media Scaling
The European Technology Network (ETN) has secured $1.6 million in seed funding to transform its bi-weekly digital broadcast into a daily live operation. Drawing support from major industry names, the investment round includes Axel Springer SE—the parent company of Politico and Business Insider—alongside Powerhouse Capital, LadBible, and angel investors from AI giants DeepMind and OpenAI. This financial backing facilitates a move to a new studio in London’s Kings Cross, a neighborhood synonymous with the city’s thriving AI sector.
Adapting to the Velocity of European Venture Capital
Founders Luke Knight and Ronan Chambers argue that existing media structures fail to match the current momentum of regional tech development. Data from Dealroom supports this shift, showing London startups raised $14.7 billion so far this year. High-value rounds exceeding $500 million have been secured by firms such as Wayve, Superintelligence, and ElevenLabs, as well as DeepMind-linked startups Isomorphic Labs, Recursive, and Ineffable Intelligence. Chambers noted that ETN was founded to fill a void in the industry, focusing specifically on the intense pace of these market movements.
Expansion of the Daily Broadcast Format
Starting June 27, the network will shift its X and YouTube streams to a five-day-a-week schedule, running from 12 p.m. to 5 p.m. UK time. The first three hours will focus on developing news stories, followed by two hours dedicated to guest appearances. The platform has already attracted high-profile figures, including former UK Prime Minister Rishi Sunak and Sequoia partner George Robson. Previous guests have included Kanishka Narayan, the UK’s first AI Minister, and the leadership of startups like Synthesia, Legora, and Granola. To manage a growing volume of approximately 70 weekly guest inquiries, the program will introduce new segments:
- Live debates and industry roundtables.
- Investment pitching sessions modeled after popular startup television formats.
- On-location broadcasts from major continental events like the RAISE AI Summit in Paris and the Panathenaea Conference in Athens.
Revenue and Strategic Positioning
Modeled loosely on the success of the American program TBPN, which OpenAI recently acquired, ETN sustains operations through sponsorships and advertising. Current partners include blockchain firm Base, prediction market Polymarket, and ElevenLabs. While the founders view themselves as tech insiders rather than traditional journalists, they aim to serve as a stage for the European ecosystem. Their vision extends beyond regional competition, focusing on a global outlook that welcomes American entrepreneurs while highlighting the diverse talent pool across Europe’s 40 nations.
Source: Tech Crunch
