It’s not a storm — it’s the climate

It’s not a storm — it’s the climate

Sparkmind Invested EPS 1: Donut, Drones & Inference

22 January 2026

Summary:

Colin, Martti and Chris discuss the three conversations that matter this week. 
Optimising for value, not views.

  1. Donut Lab / Nordic Nano solid-state batteries
  2. Harmattan AI – 200M raise and everything Drone
  3. Fractile  – The importance of Sovereign Intelligence and the rise of inference! 

TAKEAWAYS:

Donut Lab / Nordic Nano:

  • The Donut Motor is world-class
  • Creative chaos signal
  • Founder motivation
  • Chemistry is binary
  • Impossible vs merely late
  • Vertical integration vs horizontal innovation

Harmattan AI:

  • High talent density young team
  • Prime buying capability
  • Multi-directional signal

Fractile AI:

  • Inference is so important
  • Europe needs to provide an upgrade  to its own manufacturing base
  • Without inference AI doesn’t work
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