Industrial Internet-of-Things, Tesla's new Cybertruck, GenAI for VCs, smart energy management, and many more...
What's Up Tech? #159
Welcome to our 159th newsletter. It was written with 🖤 by Arnaud Savouré, Gabriel Million-Brodaz, and Justine Pelisson.
Fundraisings from last week with Castore, mylight150, Braincube and Paysend
News from last week with Tesla’s new Cybertruck, the French Deeptech Association, and Decile Base’s gen AI for VCs
Internships & Job offers of the week
Enjoy the read! 🌞
👕 Castore raised £145M at a valuation close to £1Bn (🇬🇧)
Castore, the British premium performance sportswear known to provide athletic kits to numerous leading sports’ teams (like McLaren and Red Bull in F1 or Aston Villa and Newcastle in the Premier League), has just raised £145M at a £950M valuation! 😎
Competing with much established names like Adidas or Puma, Castore’s new capital will allow the startup to extend its supply chain while increase its marketing presence and global reach.🌐
Sports kit-maker Castore Scores Bumper Valuation with Raine Investment
🌞 mylight150 raised €100M for its smart energy management solutions (🇫🇷)
Lyon-based Clean Tech startup mylight150 (a symbolic reference to the 150 millions of km between the Earth and the sun), specialized in intelligent solar energy management systems through the distribution of equipment and software to optimize energy consumption, has just raised €100M. 🌿
The startup has already started to expand to the Swiss, Romanian and Spanish markets and will leverage the new funds to accelerate on that European deployment. 🧩
📼 Braincube secured €83M for global expansion in manufacturing software (🇫🇷)
French IIoT platform (Industrial Internet of Things) Braincube, which aids manufacturers with expert and business apps leveraging AI to optimize production lines, has secured €83M in a growth funding round. 🦾
Founded in 2007, the platform has contributed to over $10B in savings for customers and a 2.5 million-ton reduction in carbon emissions. Braincube's software, deployed in manufacturing sites across 35 countries, serves diverse sectors like food and beverage, pulp and paper, building materials, and tires and plastics, with clients including Bridgestone and International Paper. 🗝
French Manufacturing IIoT Platform Braincube Raises €83M in Growth Funding
💰 Paysend raised $65M to make cross-borders’money transferring simple for everyone (🇬🇧)
London-based fintech Paysend, which facilitates cross-border multi-currency transfers for both consumers and businesses, has secured $65M. The round includes strategic investors betting on current and future synergies like Mastercard, which will foster Paysend’s cross-border payment network via its Open Payments Network. Paysend has also developed partnerships with Visa and China UnionPay. 💸
Founded in the spring of 2017, Paysend’s platform provides access to 180 countries and facilitates seamless online payments and transfers in any currency or location, attracting over eight million users. 💱
🚘The wait is finally over with Tesla’s new Cybertruck electric pickup
Tesla's long-awaited Cybertruck debut revealed three variants, each with a post-apocalyptic aesthetic and a higher price tag than the 2019 advertisement... The base model offers a 402-kilometer range, hitting 100 km/h in 6.9 seconds, but won't be available until 2025.🧐
The second variant, known as the “ all-wheel variant”, ranges 233 km further and tops at 180 km/h, whereas the third variant called “Cyberbeast” only takes 2.6 seconds to reach 100 km/h and tops at 209 km/h along with a 515-km range. Yet, at a cost close to $100,000…🤑
Tesla will also offer a “range extender” making the all-wheel drive range 756 km and the Cyberbeast range over 708 km... After the event, Musk gave more details about the add-on on X, saying it’s an “optional pack that fits in about 1/3 of the truck bed. Still room for plenty of cargo. It’s meant for very long trips or towing heavy things up mountains.” Concerns about safety, size, and weight linger as we await comparisons with other Teslas.😵💫
What’s up With Tesla’s Cybertruck? Everything to Know about the Much-Hyped Electric Pickup
🤝 France Deeptech unveiled: a unified force for Deep Tech innovation (🇫🇷)
Introduced on November 29, France Deeptech assembles 120 members, including startups, funds, and research labs, aiming to structure the ecosystem and boost deep tech champions. Aligned with the government's France 2030 plan, the association seeks to address global challenges through the promising realm of deep tech. 🎯
Open to all stakeholders, including startups like PASQAL, Exotec, and funds such as Omnes Capital, France Deeptech provides tailored support for financial and strategic needs. Four working groups will focus on financing (€12 billion estimated for 2024-2026), technology transfers, regulation, and public procurement. Michel de Lempdes, President of France Deeptech, emphasizes the urgency in structuring the ecosystem to compete globally, leveraging France's R&D quality, international recognition, and dynamic deep tech startups. 🔜
France Deeptech : la Nouvelle Association Pour Transformer les Startups Deeptech en Leaders
🤖 Meet Decile Base, the new Gen AI tool for VCs
Huge news in the VC industry, with the arrival of the AI-driven chatbot Decile Base tailored for venture capitalists! Developed by VC Lab, the “world’s leading venture capital accelerator”, Decile Base has built its own Large Language Model (LLM) based on thousands of VC conversations from fundraising, to compliance, to fund economics, to taxes, leveraging Open AI’s API. 💻
Curious to try it? Ask your first VC question here! 🔍
Internships
VC Consumer Intern - Convivialité Ventures (Pernod Ricard CVC) (Paris)
VC Intern - Evolem (Lyon)
Impact Investment Intern - Aurum Impact (Berlin)
Jobs
Associate - AXA Venture Partners (London)
Fund of funds analyst/associate - Santander (Madrid)
Ventures Associate - Plug and Play (Vienna)
👉 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 🖤