I am sure you've seen and heard all the buzz around Google Neo Banana, the latest AI image model from Google, which quickly skyrocketed to become the number one photo editing AI. It's essentially a pro Photoshop agent that can make any adjustments to any image you upload. The release and everything I've seen remind me of the "break the internet moment" when ChatGPT released a version update that drove an insane amount of Ghibli-inspired images on the internet, prompting even Sam Altman to ask people to "please take a chill" as the demand for images put a heavy load on OpenAI's servers.

I wrote a post demonstrating some of its capabilities on LinkedIn, where you can see that it’s not only photo editing but photo creation all the way: Lunch with Bill Gates, night out with Keanu Reves, dinner with Mark Zuckerberg and more. The reason I’m mentioning it as the first thing in the newsletter is that I am deeply impressed by the speed, results, and consistency it provides. It’s not just simple editing; it’s consistency of subjects, merging images, changing backgrounds, and more. Test it out for yourself on Google AI Studio and let me know what you think.

Siena Secondary Fund II, a name that you maybe didn’t hear before, but you will hear more and more, has secured €50 million to buy shares from early investors and employees at successful tech companies across Central and Eastern Europe and the Nordic countries.

Two major players led this funding round: The European Bank for Reconstruction and Development put in €10 million, and Estonia's government fund SmartCap also committed €10 million. They joined more than 100 private investors, including founders and employees from well-known tech companies like Vinted, Pipedrive, and Wise.

Why is this different? Siena doesn't invest in brand new startups. Instead, they buy shares from people who got in early at companies that are already doing well. Think of it as the secondary market for tech investments. This type of investing is becoming mainstream and It's not a niche strategy anymore, but a smart way to invest in a region that's becoming one of Europe's hottest spots for tech innovation. The fund focuses on established tech companies in the region that are already making at least €10 million in revenue each year.

In a press release published this week from Swedish-based tech consultancy firm Sigma Technology, it was announced that the Kosovo-based software development company, Appbites, has been acquired and will operate as Sigma Technology South East Europe moving forward.

Appbites was known for its niche focus on software development projects in the local and regional market and was growing slowly and steadily into the European market as a delivery/near-shoring hub for clients, which now seems to be the case with more focus around Sigma Technology.

Despite all the market news around global layoffs across tech, the South-East European region remains attractive for tech talent, and this acquisition model is not new to Kosovo or the region. Sigma Technology South-East Europe will continue to offer flexible delivery models, nearshore hubs, dedicated project teams, and individual specialists.

According to the business registry this doesn’t seem like a full acquisition, more like a partnership and further details around the deal size have not been released for the public. Regardless kudos to Appbites and Sigma and good luck.

News from the region comes through the latest move from the German bank, Berenberg, who have told investors to buy shares in Shelly Group, a Bulgarian company that makes smart home devices. They set a price target of €70 per share, which is about 23% higher than where the stock is trading now at €57.

This is the first time Berenberg has covered Shelly from Bulgaria, and they're clearly impressed. The German analysts love Shelly's strong position in the smart home market and think the company has huge growth potential ahead.

Shelly offers great value for money compared to competitors, has a wide range of products, and keeps innovating with new technology. The bank thinks this combination could attract bigger companies or investors who want to get into the smart home business.

Why this news is importat? Well, smart home technology is booming, and European companies like Shelly are proving they can compete with the big American and Asian tech giants. With backing from a respected German bank and solid financial growth, Shelly looks like a company worth watching in the tech space.

Health-tech has always been a sector that has inspired me, and I strongly believe that, combined with AI, there will be many great discoveries that will improve human lives no matter where they are.

The latest discovery is that UK researchers have created a stethoscope powered by AI that can detect three heart conditions in just 15 seconds. The AI stethoscope analyzes small changes in the heartbeat and blood flow that would otherwise be undetectable to the human ear.

This ensures doctors can identify potential heart problems quickly enough for patients to seek potentially lifesaving medical care. The latest findings are an elegant example of how the humble stethoscope, invented more than 200 years ago, can be upgraded for the 21st century.

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