A gigafactory in Dunkirk, a defense-related AI, the Entrepreneurial & VC ecosystem jungle, and many more...
What's Up Tech? #148
Welcome to our 148th newsletter. It was written with 🖤 by Justine Pelisson and our dear partner Sharpstone.
Unlocking GenZ in startups and VC: Industry impact beyond money
In Munich next weekend? 🥨 👀 Join our fellow Rashko Angelinov who will be hosting a roundtable at Bits & Pretzels for the first time on Sunday 24th at 11:30am!
He will talk about the up-and-coming generation of investors, founders, and talent force💡We’re super excited about this new partnership…congrats Rashko! 🥳
Fundraisings from last week with Verkor, Helsing, Accenta and UBQ Materials
News from last week with Apple, TikTok, and Cruise
Our content of the week by Sharpstone on the entrepreneurial jungle and the VC ecosystem
Internships & Job offers of the week
Enjoy the read! 🌞
🔋Verkor secured over $2B to accelerate the future of sustainable mobility (🇫🇷)
The French Renault-backed battery builder, Verkor, has just secured “more than 2 billion dollars” (including a €850M Series C funding round combined to a €600M loans from the EU’s European Investment Bank) in order to build a gigafactory for its batteries in Dunkirk and compete with growing Asian competitors.😏
The gigafactory (ie. a super large-scale manufacturing facility) will produce high-performance, low-carbon electric batteries for electric vehicles and energy-storage sites. As pointed out by the French President himself, this enormous fundraise is “ a bold sign of France’s ambition for reindustrialization”.🎯
French Battery Maker Verkor Scores $2.1B to Build Gigafactory
💪Helsing raised $223M to expand on defense-related AI (🇩🇪)
Helsing, a “Defense AI” European startup, has announced a $223M Series B round led by General Catalyst, breaking the investment record for European AI fundraising.☄️
The company is developing defense AI capabilities at the service of democracies to boost defense and national security leveraging live data (they are already working with France, Germany, Spain, and the Ukraine). As pointed out by Gundbert Scherf, co-founder of Helsing, “we founded Helsing because we believe that AI will be essential so that democracies can continue to defend their values. Our recent traction shows that this belief is shared by governments and industry”. 🙏
Helsing Raises €209m Series B to Bolster Defence AI Capabilities for Democracies
🪨Accenta raised €108M to bolster buildings’ decarbonization (🇫🇷)
French greentech Accenta, known for its disruptive low-carbon heating and cooling solution based on geostorage and controlled by AI, has just secured €108M from the fund Siloé Infrastructures (Crédit Mutuel Impact) and Eren Group.👏
As energy regulations are becoming increasingly stringent and as traditional thermal renovations are hitting their limitations, Accenta has developed a comprehensive offer to reduce energy consumption and encourage carbon-free production.😇
The funds raised will be used to make of Accenta a leader in the thermal decarbonization of buildings. 🏬
La Greentech Accenta Lève 108 Millions d’Euros pour Accélérer la Décarbonation des Bâtiments
🌿UBQ Materials raised $70M to expand globally (🇮🇱)
Israeli climate tech startup UBQ Materials, specialized in converting household waste into thermoplastic material, has announced a $70M private funding round led by Eden Global Partners. 😎
The startup has been developing a bio-based thermoplastic material from residual waste to replace fossil-based plastics and to offer durable products that can be integrated in products from many industries (cars, footwear, panels,…). UBQ Materials is already working with big partners like Mercedes-Benz, PepsiCo and McDonald’s. 💪
🍏Apple’s annual keynote tainted by iPhone 12 radiation issue
In case you missed it, Apple has just revealed its latest products & updates - namely the iPhone 15, the iPhone 15 Pro, the Apple Watch Series 9, the Apple Watch Ultra 2, and the AirPods Pro 2! ⌚
Yet, the announcements were bombed by the suspension of the iPhone 12 sales in France ordered by the France’s National Frequency Agency who alerted on a radiation threat regarding the phone’s electromagnetic emissions. Apple has announced working on software update to address the problem.📱
😏If you’re curious to read about additional pretty cool announcements left aside this keynote, MSN has made sure to list them here.
🤮 TikTok hit with a $370M fine over child data
Big flop for TikTok, who was just fined for misprocessing children’s personal data in the European Union. According to the Ireland’s Data Protection Commissioner (DPC), the Chinese platform has breached numerous EU privacy laws in 2020, failing to properly protect children’s privacy through weak safeguards.🤯
🦽 Cruise reveals new wheelchair-accessible robotaxi
Cool news from Cruise, the autonomous vehicle company supported by General Motors! It just exposed the prototype of their Cruise WAV: a wheelchair-accessible, driverless vehicle which could offer 41 million Americans with disabilities better transportation options! 🙌
The prototype is currently being tested in Austin and Miami, and showcases features like an automatic ramp, the ability of the vehicle to lower to the curbs, as well as a docking and a hook securement options. 🔥
Cruise Unveils a Wheelchair-accessible Robotaxi, with Plans to Launch in 2024
Our content of the week is brought to you by our partner Sharpstone. Massive thanks to Marie Aristide for having written the piece below and to Charlotte Adam-Allais!
🔍 The “Entrepreneurial Jungle”: Welcome to the VC Ecosystem
An entrepreneur quickly finds themselves immersed within their ecosystem, a true jungle where they must not only adapt but also grasp the rules, codes, and language that govern this ever-evolving new universe.
In this complex environment, a prominent player captures attention: the venture capital (VC) investment fund. They are growing fast: 440 in 2023 in France, 96 in 2008. Undoubtedly, the growth of startups has impacted the investment demand. However, investing in high-potential return startups requires an attractive investment fund. The competition among funds to seize the most promising investment opportunities has become intense. Funds have adopted various strategies in order to differentiate themselves:
Verticalization: specializing in specific fields (DeepTech, AgriTech, Female Founders...) with teams that possess sharp expertise in their sector.
Focus on development phases: some have focused on specific phases of a startup's lifecycle, such as initial financing (seed) or the first growth phase (Series A).
Different support: funds have developed various support programs, ranging from corporate strategy to recruitment and even non-dilutive funding to support growth.
As the startup ecosystem continues to structure and evolve, investment funds are also adjusting their strategies to meet the changing market needs. This constant dynamic between startups and investors contributes to shaping a thriving and ever-transforming entrepreneurial ecosystem.
If you want to dive into the full article (in 🇫🇷), it’s just here!
Internships
VC Analyst Intern - SISTAFUND (Paris)
Investment Intern - Portage Venture (Paris)
VC Fellow - Foundamental (Berlin)
VC Investment Analyst Intern - Heliad Equity Partners (Frankfurt)
VC Analyst - SuperSeed Ventures (London)
Jobs
Climate Venture Scientist - Marble (Paris)
Climate Associate - Deep Science Ventures (London)
Senior Investment Analyst - Dealflow.eu (Lisbon)
👉 If you’d like to discover more offers, you can check our job board just here or fill this form to submit a new one.
You can also read more about baby vc on our website and follow our updates on LinkedIn, or directly reach out to us at hello@baby-vc.co! 🤝
Have a wonderful week and see you next Tuesday!
The whole baby vc crew 🖤