Climatetech funding, energy storage sparks, pet care perks, and much more...
What's Up Tech? #216
Welcome to our 216th newsletter, written with 🖤 by Annika Bautista, Sarah Luna Mongin, Aris Sevastianos, Alberto Fratini and Niccolò Tomei.
🔍 Topics we'll cover this weekGeneral news from the week: Brussels gets a new startup hub, and Bending Spoons strengthens its leadership in consumer-focused digital tech 🚀
Fundraising news from the week: Europe’s green future gets a boost in climatetech funding and EV battery innovation is back⚡
Up-and-coming ventures to watch: workplace wellness takes center stage and we need it💡
🆕 Product news from the week: scroll to the end for one-liner, stand-out headlines on the latest tech that you should read more about 👀
Internships & Job offers of the week
Enjoy the read! 💛
🤑 Fundraising of the week💚 2150 raises nearly €200 million to fuel the next wave of sustainable innovation(🇬🇧)
London-based climatetech VC 2150 just pulled in nearly €200 million for Fund II. The fund is focused on Series A, but initial check sizes still range from €3-15 million, giving impactful technologies the runway to scale, with plenty in reserve to keep backing founders.
2150 isn’t switching up the playbook. Just like Fund I, the firm is sticking to its research-led approach, hunting for solutions to the biggest urban challenges. The goal? Make cities and their citizens more efficient, resilient, and sustainable.
With Fund II filling up, the future of climatetech is looking greener than ever. 🔋
🌍 Elbow Beach launches £63 million Climate Impact Fund to back AI, automation, and clean tech (🇬🇧)
Elbow Beach just secured £63 million for its second Climate Impact Fund. The British Business Bank led the charge, dropping £50 million into the pot. Right out of the gate, £40 million is ready to be deployed.
The fund's mission? Back tech that fights climate change while making businesses more efficient and profitable. That means AI, automation, carbon capture, electrification, and low-carbon materials. Think tech that slashes energy use in everyday products or boosts crop yields using robots.
The UK is a climate tech powerhouse - second only to the US in startups - but it’s lagging in funding. Elbow Beach wants to fix that. CEO Jon Pollock says the goal is to make green tech a no-brainer: “It only works if it makes commercial sense.” With this fresh capital, they’re betting big on the next wave of game-changing British climate startups.
☁ Evroc raises €50 million to supercharge Europe’s AI and cloud game (🇸🇪)
Swedish data center startup Evroc just locked in €50 million in Series A funding. The round was led by Blisce/. The cash will fuel Evroc’s hyperscale cloud and AI infrastructure push across Europe.
Evroc isn’t playing small. It’s rolling out a 96MW AI data center in Stockholm and a massive 50,000-GPU AI factory in France, both set to go live in 2025. The company also plans to secure two additional 100MW+ sites in France this year.
CEO Mattias Åström says this funding is just the beginning, with a long-term goal to raise €3 billion and build ten hyperscale data centers by 2030. Europe’s cloud game is about to get a serious upgrade!
🛍 Buynomics raises €27.5 million to supercharge AI-powered pricing and revenue optimization (🇩🇪)
AI-driven pricing just got a major boost. 🚀
Buynomics, a Cologne-based startup, locked in €27.5 million in Series B funding led by Forestay Capital to expand globally with a big push into North America.
Buynomics' Virtual Shoppers AI simulates real customer behavior, helping companies fine-tune pricing, promotions, and product portfolios. Heavyweights like Danone, Unilever, and Vodafone already use it, reporting 2-4% higher gross profits and 80% faster analysis. The fresh cash will fuel AI upgrades, US and Asia expansion, and new industry verticals like retail and consumer electronics.
With AI taking over commercial decision-making, Buynomics is betting big on becoming the go-to platform for revenue optimization.
Buynomics Secures €27.5M for its Virtual Shoppers AI Technology
🐾 Pet care gets a glow-up as DALMA secures €20 million in funding (🇫🇷)
Paris-based Dalma, a pet insurance startup, has secured €20 million in a Series B round led by Breega. The pet insurance startup is doubling down on its AI-powered platform, promising instant reimbursements and 24/7 vet teleconsultations.
Since launching in 2021, the company has already insured over 100,000 pets and plans to use the new capital to expand internationally. 🐶 As pet ownership booms, Dalma is making moves to lead Europe’s pet care revolution.
Dalma Raises €20M Series B to Transform Pet Care with AI-Powered Insurance and Wellness Solutions
🔋 PULSETRAIN lands €6.1 million to slow down battery aging (🇩🇪)
Deep-tech startup PULSETRAIN specializing in EV battery optimization, has raised €6.1 million in funding from Vsquared Ventures, High-Tech Gründerfonds, and Speedinvest. The company is developing adaptive pulse-charging technology that significantly extends battery lifespan and improves efficiency.
Since its founding in 2022, PULSETRAIN has made breakthroughs in battery health management, offering automotive and industrial partners a cost-effective solution to enhance battery performance. 🦾 The startup’s proprietary technology can extend EV battery lifespan by up to 30%, helping to lower costs and improve EV sustainability.
With fresh funding in hand, PULSETRAIN is gearing up to roll out its tech across Europe because longer-lasting EV batteries mean a greener future. ⚡
PULSETRAIN Secures €6.1M to Extend EV Battery Lifespan by 80% and Boost Efficiency
🔥 Up-and-coming startups to watch⚡ Capalo AI locks in €3.8 millions to bring AI-driven efficiency to energy storage (🇫🇮)
Helsinki-based Capalo AI just raised €3.8 million in Seed funding to shake up energy storage optimization. The round was led by Voima Ventures and Superangel, backing the startup’s mission to make battery storage smarter and more profitable.
Since launching in 2023, Capalo AI has partnered with energy providers and grid operators to develop predictive analytics that balance supply and demand. The company's AI models help increase battery ROI by up to 25%, making energy storage more scalable and cost-effective. This funding will accelerate product development and expand operations across Europe. 🔍
Capalo AI Raises €3.8M to Advance Green Transition with AI-Powered Energy Storage Optimization
💰 WARREN raises €3 million to tackle financial stress in the workplace (🇧🇪)
Belgium-based WARREN just secured €3 million in Pre-Seed funding to make financial wellness a workplace priority. The round was led by Motive Ventures.
WARREN’s AI-driven financial coaching blends smart insights, personalized education, and direct access to top-tier financial advisors. The goal? Help employees stress less and build real wealth. And let’s be real, bosses should care too since 78% of employees feel financially stressed, and 42% would switch jobs for better financial support.
The new funding will fuel product development and expansion. WARREN is betting big on a future where financial literacy isn’t a luxury - it’s a workplace benefit. 💵
WARREN raises €3 million to transform financial wellness in the workplace
📰 Tech news of the week🤝 Norrsken launches Brussels hub to help impact startups schmooze with EU bigwigs (🇸🇪/🇧🇪)
Swedish nonprofit Norrsken Foundation just set up shop in Brussels, giving impact startups a VIP pass to the EU’s power corridors. This is hub #4 for the Klarna cofounder-backed org. The new hub, in partnership with Brussels-based Sustainable Hub, aims to get startups a seat at the table for policy decisions shaping their industries. Expect networking galore and plenty of policy handshakes.
Timing-wise, this move is spicy. Climate tech is in crisis, with funding plummeting and big names (RIP Northvolt) going under. Yet, Europe still leads in cleantech, snagging 30% of all VC funding in 2023 and outpacing the US in climate startups. Norrsken’s founder, Niklas Adalberth, sees this as Europe’s moment to dominate the “next economy.”
Startups like Heart Aerospace and Greenly are already lobbying hard in Brussels. Whether this hub shifts EU policy remains to be seen. But if it helps climate tech scale faster, that’s a win. 🏆
Norrsken Launches Brussels Hub to Help Startups Access EU’s Corridors of Power
🧗🏼♂️ Komoot joins Bending Spoons as outdoor adventure meets digital innovation (🇮🇹/🇩🇪)
Milan-based tech powerhouse Bending Spoons just added a major player to its expanding portfolio, acquiring Komoot, the Germany-based outdoor adventure platform. Founded 17 years ago, Komoot has become a go-to for outdoor explorers, thanks to its easy-to-use route planning and navigation tools. 🏕️
This move aligns with Bending Spoons’ strategy of acquiring and scaling digital products, following previous buys of Evernote, Meetup, Remini, StreamYard, and WeTransfer. With over a billion users worldwide, Bending Spoons is on track to exceed €1 billion in revenue by 2025, solidifying its spot as a leader in consumer-focused digital tech.
Technology Company Bending Spoons Announced that it has Closed the Acquisition of Komoot
📰 Product news of the weekMicrosoft hires away top talent from AI video startup Haiper - editing the future?
FuriosaAI says "nah" to Meta’s $800M offer, staying independent, staying fierce.
DoorDash x Klarna: buy now, pay later… for your burrito cravings.
👔 Internships & job offersInternships
VC Analyst Internships - Educapital (Paris)
Impact VC Workstudent - kopa ventures (Berlin)
Analyst Intern - Earlybird (Berlin)
Jobs
Principal - ACE Ventures (Zurich)
Investment Associate - Singular (London)
Healthcare Investment Manager/Principal - Vi Partners (Zurich)
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