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Tunisia-based AI startup Thunder Code has raised $9 million in seed funding to enhance its AI-native software testing platform, enabling non-technical users to automate testing and improve QA efficiency by 90%. Founded by Karim Jouini and Jihed Othmani, the platform features advanced capabilities like natural language test creation and self-healing scripts, aiming to redefine quality assurance standards globally.
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European markets are seeing a boost, with the STOXX Europe 600 Index up 0.90% due to easing inflation and supportive ECB policies, prompting investors to seek dividend stocks for stable income. Notable picks include Manitou BF, offering a 5.6% yield, despite a volatile dividend history, and INDUS Holding, a private equity firm with diverse revenue streams.
Klarna's CEO, Sebastian Siemiatkowski, discussed the company's strategic use of AI during his presentation at London SXSW, revealing a workforce reduction from 5,500 to 3,000 due to AI efficiencies. Despite this, Klarna is hiring humans for VIP customer support, emphasizing the value of personal interaction in financial services. The rise of AI has also led to increased financial fraud, with losses projected to reach $40 billion by 2027, raising concerns about the security of high-trust societies like Sweden.
Brookfield Asset Management plans to invest up to 95 billion Swedish crowns (US$9.9 billion) in an AI-focused data center in Strangnas, Sweden, creating over 1,000 permanent jobs and 2,000 temporary positions during its construction. This investment highlights Sweden's growing role as a data center hub, attracting major tech companies due to its reliable electricity and strong infrastructure. As Europe faces a critical AI infrastructure gap, Brookfield's project aims to address the increasing demand for AI-capable facilities, reflecting a significant shift in digital infrastructure economics.
Brookfield Asset Management is set to invest $10 billion in a new data centre focused on artificial intelligence in Sweden. This significant development underscores the growing demand for AI infrastructure and the company's commitment to expanding its technological capabilities in the region.
The banking sector in Uzbekistan is poised for transformation, driven by rising client expectations, the influence of fintech, and the need to engage the youth demographic. Banks must adapt by enhancing their product offerings, integrating AI for improved services, and developing comprehensive strategies to foster financial literacy among young consumers. As the youth segment represents a significant growth opportunity, a systematic approach to youth banking is essential for long-term success.
Klarna has launched a pilot for a new debit card in the United States, partnering with Visa to offer consumers immediate payment options or interest-free installment plans for online and in-store purchases. This move aims to enhance competition with traditional banks. Additionally, Klarna has paused its plans for a US initial public offering for the second time amid market uncertainties influenced by tariffs.
Startups in the MENA region are gaining momentum, with significant funding and acquisitions highlighting the innovation ecosystem. Notable developments include UAE's Tech Universal Ventures acquiring FixSquad and ELVA11, while fintech startup Stitch raised $10 million, and Qashio secured $19.8 million to expand into Saudi Arabia. Additionally, COREangels MEA launched a $10 million fund for early-stage fintech startups, and BirdEye and Gainz also reported successful funding rounds to support their growth.
Startups in the MENA region are gaining momentum, with significant funding and strategic acquisitions highlighting the innovation ecosystem. Notable developments include Stitch raising $10 million for its API-driven platform, Qashio securing $19.8 million for expansion into Saudi Arabia, and Tech Universal Ventures acquiring FixSquad and ELVA11 to enhance digital infrastructure. Additionally, COREangels MEA launched a $10 million fund for early-stage fintech startups, while M&A activity surged by 31% in Q1, driven by the UAE and the tech sector.
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tunisian ai startup thunder code secures 9 million to transform software testing
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