Moonfire Ventures, founded in 2020 by former Atomico co-founder Mattias Ljungman, said on Wednesday it had raised $115 million to invest in European technology startups and the AI ​​(artificial intelligence) space.

Moonfire Ventures’ funding highlights the development of artificial intelligence in Europe, prompting politicians around the world to examine how it can be better regulated.

“Europe has been a leader in AI, and we found we were best suited to support the next generation of founders solving some of our biggest challenges in health, work, finance and gaming,” Ljungman said in a statement.

EU technology chief Margrethe Vestager said earlier this week that the bloc and the United States would step up cooperation on artificial intelligence to set minimum standards before the legislation comes into force.