Early-Stage Funds Surge, Wildfire Detection from Space, Real-time AI Audio Translations, and much more...
What's Up Tech? #196
Welcome to our 196th newsletter, written with 🖤 by Annika Bautista and Sarah Luna Mongin
🔍 Topics we'll cover this weekFundraising & general news from the week: huge incoming funds for early-stage startups, and AI changing the game for translations and wildfire protection
Up-and-coming ventures to watch: two French Deep Tech startups to discover
Internships & Job offers of the week
Enjoy the read! 💛
🤑 Fundraisings of the week🚀 20VC raises its largest fund-to-date, $400 million for early-stage startups
Harry Stebbings says he’s ready to “make Europe great again.” Stebbings debuted 20VC in 2020 with an $8.3 million fund after dropping out of law school. Since then, it has become one of the most popular venture capital firms in Europe on the back of building a successful media platform and landing interviews with the likes of Sam Altman and Scooter Braun. The firm also has autonomous sub-funds, led by operators and founders, which invest $5 million in pre-seed and seed companies. 🌱
The new raise will be split across two geographies (Europe and the U.S.) and two funds: $125 million in seed investments and $275 million in Series A. Some notable previous investments from 20VC are poolside, 11x, and Tripledot.
Podcaster-turned-VC Harry Stebbings Raises $400 million for Third Fund
🙌 node.vc raises €71 million to back Nordic entrepreneurs
node.vc has closed its first fund, fueling tech startups within the Nordic ecosystem. They are backed by notable investors, including Saminvest, Sweden’s fund-of-funds, and Nordea, one of the largest banks in the Nordics. The firm focuses on a founder-first approach, aiming to be a “node” that connects young startup founders with seasoned and successful entrepreneurs. So far, they have invested in three startups: Lemonado and Starhive (no-code AI platforms), and Roro (a gaming studio). 🤖
🔥 OroraTech secures €25 million to expand AI-powered wildfire detection and global prevention (🇩🇪)
SpaceTech company OroraTech, which utilizes thermal satellites and AI to predict and prevent wildfires, has secured €25 million in Series B funding. The investment will accelerate OroraTech's global expansion, particularly in North America and the Asia Pacific, and enhance its AI-driven wildfire detection platform and orbital thermal sensor network.
With existing investors recommitting capital and a recent €20 million contract with the European Space Agency, OroraTech is positioned as a key player in wildfire management. ☄️
Satellite Wildfire Detector OroraTech Raises €25 million Series B
🔊 Gladia advances real-time audio translations with new Series A fundraise of €16 million (🇫🇷)
True real-time audio translations are closer than you may think. 👀
Gladia, known for developing a cutting-edge speech-to-text API, has now covered over 100 languages, and reached over 600 enterprise customers and 70,000 users worldwide. Along with its new Series A round led by XAnge, Gladia has announced its latest product, Gladia Real-time, which can process audio data under 300 miliseconds. Users can even get smart insights, such as caller sentiment, a summary of key information, and a transcript nearly instantaneously.
Our Road to Real-Time Audio AI – with $16 million in Series A Funding
🌊 CorPower Ocean secures €32 million to accelerate wave energy commercialisation (🇸🇪)
CorPower Ocean, a Swedish wave energy pioneer, has raised €32 million in a Series B1 funding round to support the commercial deployment of its innovative wave energy technology.
The startup has created a wave energy device capable of withstanding severe ocean storms while efficiently generating power. The CEO, Patrik Möller, highlighted the significance of these trials, which proved the device’s resilience and energy efficiency.
Investors emphasized the company’s potential to tap into ocean energy markets across Europe, the US and Japan. 📈
Stockholm-based CorPower Ocean Secures €32 million to Drive Commercialization of Wave Energy
🛡 Stoïk protects SME’s from cyber-attacks with fresh funding of €25 million (🇫🇷)
Cyber insurance startup Stoïk has just raised €25 million in Series B funding, led by Alven and with participation from Andreessen Horowitz. The company is set to expand to Southern Europe, Benelux, and the Nordics, while its focus remains on protecting SMEs. According to CEO Jules Veyrat, only 5-10% of SME’s in Europe have adequate coverage for large-scale cyber-attacks.
As the first insurer in Europe specializing in cyber risk for small and medium-sized businesses, Stoïk is addressing the growing need for affordable and specialized digital security solutions. 👮
🔥 Up-and-coming startups to watch🛰️ Constellation Technologies & Operations raises €9.3 million for satellite-powered 5G internet (🇫🇷)
5G is achieving lift-off with Constellation Technologies & Operations having raised €9.3 million in Seed funding from Expansion and the French Tech Seed fund. 🧑🚀 Targeting telecom operators through a B2B2C model, Constellation is building a network of satellites to deliver 5G connectivity from space. They aim to make internet access universal and high quality (low-latency and high-speed). The company focuses on deploying satellites in Very Low Earth Orbit, preventing potential sustainability issues, such as light pollution and space debris. 🛜
Constellation Technologies & Operations Secures €9.3M for Satellite Internet Access
⛽️ Aerleum has secured €5.5 million in Seed funding to scale up industrial decarbonization (🇫🇷)
In a Seed round headed by 360 Capital and HTGF, climate-tech startup Aerleum which specialises in CO₂ capture and utilization has raised €5.5 million.
This funding will accelerate the industrialization of Aerleum’s innovative technology, which converts atmospheric CO₂ and low-carbon hydrogen into synthetic fuels (e-fuels) and chemicals. They’re targeting hard-to-decarbonize industries, such as maritime, aviation, and chemicals. Aerleum plans to launch its first full-scale pilot unit and collaborate with industry players to deploy its technology. 💨
Strasbourg-based Aerleum Raises €5.5 Million to Revolutionize CO₂ Capture and Conversion Technology
📰 News of the week👩💻 Ex-OpenAI CTO Mira Murati is raising over $100 million for her new startup
…which will focus on developing proprietary AI products. 👀
After stepping down last month, Murati cited a desire to explore new opportunities.
She played a key role at OpenAI since joining in 2018, later becoming CTO in 2022, and briefly serving as interim CEO during Sam Altman’s temporary ouster. Murati’s departure follows a wave of executive exits at OpenAI, which recently raised $6.6 billion in the largest VC round to date. 💸
Former OpenAI CTO Mira Murati is Reportedly Fundraising for a New AI Startup
🚀 The Exploration Company, a SpaceX competitor, is nearing a deal to raise €150 million
Munich and Bordeaux-based space tech company, The Exploration Company (TEC), is reportedly close to securing €150 million in funding, bringing its valuation to around €450 million. London-based Balderton Capital is expected to participate in the round, which will support TEC’s mission of building the first privately-funded reusable space capsule capable of flying to space stations and the moon.
Founded in 2021 by Airbus alumna Hélène Huby, TEC recently made headlines when its capsule reached space aboard a French Ariane 6 rocket. The company also secured a €25 million contract from the European Space Agency to develop a commercial cargo service to low-Earth orbit by 2028. 🪐
SpaceX Competitor The Exploration Company Nears Deal to Raise €150M in Fresh Funding
👔 Internships & job offersInternships
Analyst Intern Digital West - Earlybird (Berlin)
VC Analyst - Alven (Paris)
ESG Analyst - PAI Partners (London)
Jobs
Ventures Analyst - Plug and Play (Valencia)
Principal - Marble (Paris)
Analyst/Associate - Picus Capital (Munich)
👉 If you’d like to discover more internship & job offers, you can check our LinkedIn Fridays’ post here!
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 🖤