AI-powered drone robotics, a real-estate marketplace, UK's mitigated approach to AI, and many more...
What's Up Tech? #154
Welcome to our 154th newsletter. It was written with 🖤 by Annika Bautista, Chiara Bagaini, Kudei Sawyer Moses, Vinosh Jegatheesan, and Justine Pelisson.
Fundraisings from last week with Oxolo, Nomad Homes, Quantum Systems, and Sofinnova Partners
News from last week with Rishi Sunak’s speech on AI capabilities, Apple’s $1B funding in AI, and Bloomberg’s 25 UK startups to watch
Internships & Job offers of the week
Enjoy the read! 🌞
📹 Oxolo raised €13M to accelerate on generative AI video platform (🇩🇪)
Hamburg-based startup Oxolo, specialized in creating ultra-customized engaging videos leveraging generative AI, has just raised €13M in Series A. 😎
The startup has built a deep tech platform that allows customers to create videos automatically based on their ecommerce products’ URL (for sales, marketing, as well as internal training), creating AI-powered chatbot avatars that get intelligently adapted to the audience and context. Once sent out, the videos automatically A/B test their own performance to get improved and replaced by a better performing one. 🪛
Oxolo Bags €13M for Generative AI-Driven Video Platform which Can Optimize Engagement on the Fly
🏠 Nomad Homes, the marketplace for residential real estate listings, raised $20M (🇫🇷)
Nomad Homes, a French software-enabled marketplace for residential real estate across Europe and the Middle East (EMEA), just closed a $20 million Series A extension round. 🎉
Nomad aims to improve the efficiency of real estate transactions in countries where the buying and selling of homes is complicated (due to a lack of infrastructure around real estate and poor agents’ collaboration). To remediate to that specific need, Nomad just launched Nomad Agent, a B2B component that offers real estate agents access to a network to better work together and share commissions. 🤝
The new funding will accelerate Nomad Agent’s roll-out as well as the startup’s future AI-powered recommendation tool for buyers. 👏
Nomad Homes Adds Software for Real Estate Agents following $20M Capital Infusion
🤖 Quantum Systems raised €63.6M to solidify AI-powered drone-robotics (🇩🇪)
Munich-based Quantum Systems, a leader in dual-use drone robotics with advanced multi-sensor technology, has raised €63.6 million in Series B funding, pushing their total funding past €100 million.🌟
Quantum Systems specializes in developing small Unmanned Aerial Systems (sUAS) with a focus on maximizing range and versatility. Their tech integrates real-time AI data processing and edge computing. Quantum Systems recently clinched a substantial contract with the German Armed Forces for Vector reconnaissance drones.🌐
They also stand by Ukraine with Vector drone deliveries and ongoing innovations in AI capabilities. The funding will fuel their expansion and innovation in this high-flying industry.🛡
Germany’s AI-Powered Drone-Robotics Firm Quantum Systems Secures €63.6M
⚕️ Sofinnova Partners raised $200M for its Digital Medicine Fund (🇫🇷)
Sofinnova Partners, a leading European VC fund specialized in life sciences, just announced the closing of its Sofinnova Digital Medicine I fund at $200M. The new fund will back forward-thinking entrepreneurs innovating in biology, data and computation, creating solutions that leverage AI, machine learning and data analytics to revolutionize healthcare and medicine. 🧬
🤔 UK Prime Minister addresses AI capabilities and risks (🇬🇧)
UK Prime Minister Rishi Sunak recently emphasized the importance of artificial intelligence (AI) and unveiled key commitments to navigate its associated concerns around safety. He stressed the need for government involvement in AI safety testing alongside developers, being a matter of national security. 🔐
However, the UK government won’t “rush to regulate”, prioritizing innovation. The UK is actively building capabilities to better understand AI models, having invested £100 million in a new AI taskforce and about to establish the world's first AI safety institute. 📐
The UK will host the inaugural AI Safety Summit on November 1 and 2 to address AI risks and discuss how they can be mitigated through internationally coordinated action. The summit will bring together international governments, leading AI companies, civil society groups and experts in research. 🤝
Rishi Sunak also pledged £1bn for a supercomputer and £2.5bn for a 10-year strategy in quantum computing to make the UK an AI leader. His vision for the future of AI is one of optimism and hope, where the government actively engages with AI's potential while safeguarding against its risks. 🙏
Humanity Could ‘Lose Control’ of AI, UK PM Warns, as Britain Seeks Leading Role in the Tech
🤑 Apple’s $1B Annual Spend on AI
Apple is catching up to AI fever. Back in July, the company had internally released the Apple GPT chatbot to test a large language model (LLM) it had just built called Ajax. Now, Apple is set to spend an annual $1B on AI and Software Engineering, covering the development of the underlying technology for a new AI system, integration of AI into the next iOS, and inclusion of smarter features on Siri and Messages (as part of a greater rollout in other apps in the future) based on Apple’s new proprietary LLM. 🤖
In the long-term, Apple is also making way for generative AI in development tools, such as Xcode, to help developers create new apps more efficiently. 👀
Inside Apple’s Big Plan to Bring Generative AI to All Its Devices
🔎Bloomberg’s favorites: the 25 British startups to watch (🇬🇧)
Bloomberg has just published its own list of the 25 British startups to watch in the upcoming year, revealing innovative players reinventing medicine, entertainment, finance, autonomous driving, data and AI. 🙏
(Un)surprisingly, we find the quantum player Universal Quantum as well as the neobank Monzo and fintech Zilch, alongside adult content subscription service OnlyFans…📎
Internships
Founder Operations Analyst - Entrepreneur First (Paris)
Analyst - 50 Partners Impact (Paris)
Corporate Venture Capital Intern - Deutsche Börse AG (Frankfurt)
Jobs
Venture Analyst - CVX (London)
Founders Associate - Enter (Berlin)
Investment Analyst / Associate - Acton Capital (Munich)
👉 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 🖤