Autonomous mobility, a new AI-powered search product, the IPO market trying to get back in shape, and many more...
What's Up Tech? #182
Welcome to our 182nd newsletter, written with 🖤 by Patricia Falagan, Anna Bassi, Seif El Gamil, Tiago Duarte Neves, Neel Maniar, and Justine Pelisson.
baby vc presents its Masterclass series #2, focusing on Healthcare and Life Sciences 🧬🩺.
With this bootcamp, we aim to make the healthcare sphere less daunting for aspiring VCs and entrepreneurs. Attendees will gain insight into various sectors such as Digital Health, Therapeutics, TechBio & MedTech, and learn what contributes to the success of startups in these fields.
Register your interest through this form before May 20th, 2024 (Next Monday)
Fundraisings from last week with Wayve, Monzo, Stonal and Sesame
News from last week with OpenAI new search product and the IPO market still not fully open
Internships & Job offers of the week
Enjoy the read! 🌞
🚗 Wayve secured $1.05B investment to drive autonomous mobility (🇬🇧)
London-based Wayve, which develops an AI system enabling autonomous vehicles to learn while driving, has raised a $1.05B Series C, Europe’s largest VC round on record for an AI company.
The proceeds will be used to develop its AI-assisted automotive applications, and for global expansion.
Wayve Raises Over $1 Billion Led by SoftBank to Develop Embodied AI Products for Automated Driving
🚀 Monzo raised £150M to expand their banking presence (🇬🇧)
London-based digital challenger bank Monzo, has raised £150m in Series I. Just two months after Monzo raised £340m, with a total of £1.5bn since its inception 9 years ago, bringing their post-money valuation to £4.1bn. 💰
After a year of record growth, moving into profitability, attracting millions of customers and launching a range of new products. The new investment will be used to accelerate Monzo’s expansion plans internationally, with a particular focus on the US! 🌎
British Neobank Monzo Boosts Funding Round to $610 million to Crack U.S. Market, Launch Pensions
🏗 Stonal raised €100M for its external growth strategy and to expand into new European market (🇫🇷)
The French proptech company Stonal (formerly known as La Foncière Numérique) - known to facilitate the collection and utilization of building data by real estate asset managers for multi-year project planning, administrative and health compliance, and ESG criteria enhancement plans - has successfully concluded its 3rd and largest fundraising round to date, securing a total of €100M. 📊
With approximately €20M in revenues, the startup achieved profitability by the end of 2023. Through this funding round, its objective is twofold: to penetrate new markets, primarily focusing on the Netherlands and Germany, and to acquire new startups. 📌
Stonal Lève 100 millions d’Euros avec un Partenaire Industriel Pour se Lancer sur le Marché Européen
👥 Sesame raised €23M to revolutionize HR tech solutions (🇪🇸)
Valencia-based Sesame, a leading HR management startup, secured €23M in a funding round led by GP Bullhound. 💼
The funding will fuel Sesame's expansion efforts, including the development of new software functionalities, the introduction of financial features like expense tracking and payroll advances, and an intensified focus on AI integration to enhance user experience. 💻
Valencia-based AI-Powered HRtech startup Sesame Raises €23M in Funding Round led by GP Bullhound
⚔️ OpenAI vs. Google: the battle for search supremacy
OpenAI could disrupt Google's dominance with an AI-powered search product rumored to launch just before Google's I/O event. Reports suggest OpenAI's offering may integrate with ChatGPT, leveraging AI for internet searches. 🔍
OpenAI's move comes amidst concerns about the accuracy of AI-generated information. Google, while acknowledging the threat, emphasizes its trusted reputation. However, OpenAI's aggressive recruitment efforts and the success of similar ventures like Perplexity underscore the shifting landscape. 🔄
🔒 IPO market not likely to fully open until 2025
Despite recent achievements, analysts foresee the IPO market remaining restrained until 2025 due to cautious investor sentiment and the requirement for sustained positive performance from newly listed companies. While a few startups have entered the public arena this year, many suggest delaying until next year for a more advantageous market environment. 📉
Nevertheless, exits through mergers and acquisitions continue to provide investors with a viable liquidity option in the interim. 💰
Despite Recent Successes, IPO Market Still Won’t Fully Open Until 2025
InternshipsVisiting Analyst - identity.vc (Berlin)
Visiting Analyst SaaS & Infrastructure - Speedinvest (Berlin or Vienna)
Visiting Investment Analyst - Simon Capital (Düsseldorf)
JobsVC Associate - Speedinvest (London, Berlin, Paris, Vienna or Munich)
Investment Associate - NCA (Hamburg)
Investment Associate - Bynd Venture Capital (Barcelona / Remote)
👉 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! 🤝
The whole baby vc crew 🖤