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Storm Leonardo Causes Flooding and Evacuations in Portugal
Portugal faced widespread flooding and evacuations as Storm Leonardo swept across the country, causing rivers to burst their banks and inundate towns on Wednesday, February 5, 2026. The storm, which followed weeks of severe weather across the Iberian Peninsula, prompted emergency crews to rescue residents and close businesses.
In Alcacer do Sal, the Sado river overflowed, cutting off parts of the town and submerging the main avenue, according to Euronews. Portuguese civil protection reported thousands of incidents, including flooded homes and fallen trees, leading to the evacuation of hundreds of people. Soldiers were deployed to assist rescue teams. The storm had already claimed one life in Spain.
Valve Delays Steam Machine, Cites RAM Crisis
Valve announced a delay in the shipping schedule and a revision of pricing plans for its Steam Machine, Steam Frame, and Steam Controller, according to The Verge on Wednesday, February 5, 2026. The company cited a RAM crisis as the reason for the adjustments. Valve initially announced the new hardware in November 2025.
Xi Jinping and Putin Hold Video Call
Chinese President Xi Jinping held a video call with Russian President Vladimir Putin on Wednesday to discuss bilateral ties and exchange views on geopolitical tensions, Euronews reported. The discussion between the two leaders preceded a phone call between Xi and U.S. President Donald Trump. The leaders discussed economic cooperation and their relationships with the U.S.
Mundi Ventures Closes €750M Deep Tech and Climate Fund
Mundi Ventures closed on €750 million for Kembara Fund I, its largest deep tech and climate fund to date, TechCrunch reported. The fund secured a €350 million commitment from the European Investment Fund under the European Tech Champions Initiative in 2024. Regulatory filings from Spain indicate the fund could potentially reach a final closing of €1.25 billion. Kembara co-founder and general partner Yann de Vries said securing €750 million in two years as a first fund in the current environment was challenging.
Stripe Alumni Raise €30M for Duna
Duna, a business identity verification startup founded by Stripe alumni Duco van Lanschot and David Schreiber, raised a €30 million Series A, according to TechCrunch. The funding round was led by Alphabet's growth fund CapitalG. Duna, based in Germany and the Netherlands, counts Plaid among its customers and helps fintech companies verify business identities. The company is considered the best-funded European member of the "Stripe mafia," a term referring to the numerous startups founded by former Stripe employees.
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