Nick Clegg Joins HIRO Capital to Drive Spatial AI Innovation in Europe

Nick Clegg, the former Meta executive, has joined HIRO Capital to invest in spatial AI in Europe. Alongside renowned partners, HIRO's new fund aims to exceed €500 million. With expertise in robotics and augmented reality, HIRO plans to address the scale-up funding gap and boost Europe's tech scene.

Nick Clegg, formerly of Meta and a former British deputy prime minister, has joined HIRO Capital to foster spatial AI innovation across Europe. Announced by the venture capital firm on Wednesday, Clegg will collaborate with HIRO's general partners in their ambitious new fund, HIRO III, targeting over €500 million for investment.

Yann LeCun, recently stepping down as Meta's chief AI scientist, is slated to join HIRO's advisory board. With a shared vision of spatial, immersive computing as the future, the HIRO team sees potential in areas like robotics, augmented reality, and self-driving technologies. Clegg dismissed the view that Europe lags behind the U.S. or China, citing the continent's vibrant tech scene and top-tier research institutions.

The fund intends to invest between 5 and 50 million euros in scaling innovative technologies, addressing the critical gap in financing for tech startups in Europe. This strategic move represents Europe's robust market and burgeoning opportunities in the realms of robotics, sports, gaming, and defense.

(With inputs from agencies.)