The EU Startup Entity, Carbon-Storing Construction, Smart Farming, and much more...
What's Up Tech? #195
Welcome to our 195th newsletter, written with 🖤 by Annika Bautista and Sarah Luna Mongin
🔍 Topics we'll cover this weekFundraising & general news from the week: the biggest AI database for biology, climate-friendly construction material, and the one EU startup entity to rule them all 👀
Up-and-coming ventures to watch: reinventing the humble camera with the latest tech
Internships & Job offers of the week
In case you missed it: access our full HealthTech Deep Dive series here!
Enjoy the read! 💛
🤑 Fundraisings of the week🌱 Basecamp Research is building the ultimate foundational models for biology with Series B funding of $60 million (🇬🇧)
Led by Singular, Basecamp Research has just raised $60 million in Series B funding towards developing “a GPT for Biology.” They believe that the creation of a powerful foundational model can unlock discoveries in areas, such as novel proteins and therapeutics. 💊
The basis of the company’s foundational models is their proprietary dataset, which includes 100 times more advanced biological systems than current public databases. They also claim that their BaseFold model can outperform DeepMind’s AlphaFold 2 in predicting complex proteins. 🔬
Basecamp Research Raises $60 million Series B to Scale Its AI-powered Database of Life
🌾 xFarm Technologies secures €36 million in Europe's largest smart farming deal (🇨🇭🇮🇹)
Swiss-Italian startup xFarm Technologies has raised €36 million in a Series C round led by Partech, marking Europe's largest smart farming deal to date.
With 450,000 farms across Europe already using its digital tools, xFarm helps farmers manage expenses and crops, and integrates sensor and satellite data for high-tech farming. Looking ahead, xFarm plans to expand into Brazil and India, while also exploring innovative fintech products like parametric insurance. 👩🌾
🌬️ Paebbl raises $25 million Series A to scale CO2-storing building materials(🇳🇱)
Paebbl, a company focused on turning captured CO2 into carbon-storing materials for the construction industry, has secured $25 million in Series A funding. This funding will help Paebbl scale its efforts in carbon storage through building materials, positioning the built environment as a crucial solution to climate change. 🌪️
Paebbl, with hubs in Helsinki, Rotterdam, and Stockholm, has already moved from lab tests to a pilot unit producing 250kg of CO2-storing materials daily and aims to ramp up production with a new plant by 2025. The goal is to sequester one ton of CO2 daily, setting the stage for commercial deployment and sustainable construction worldwide. 🌍
Paebbl Raises $25M to Supercharge Carbon Storage in the Built Environment
🦾 Tensor Ventures fuels deep tech in Czech Republic with €50 million fundraise (🇨🇿)
Tensor Ventures announced the launch of its new fund worth €50 million. The European Investment Fund, one of the most influential funds in Europe, is one of their key investors, contributing €20 million. Their primary focus will be in deep tech areas such as quantum technologies, biotech, and climate tech. Half of the fund will be invested in Czech startups, while the rest will be on global ventures.
Their previous fund had two notable acquisitions — UltimateSuite (process mining startup), acquired by ServiceNow, and Neuronix AI (AI-based computer vision startup), acquired by Microchip Technology. 💰
Tensor Ventures Launches €50 million Fund: A Boost for Quantum, Biotech, and Climatetech Startups
🔥 Up-and-coming startups to watch📸 Muybridge is set to change the game of computer vision and cameras with new fundraise of €8 million (🇳🇴)
Muybridge is advancing computer vision tech with an innovative “virtual camera” system, made up of multiple small sensors and adaptive software. This compact system can simulate different perspectives without the need for physical adjustments.
The funding round was led by Fairpoint Capital. The funds will be used to expand product offerings, partner engagement, and grow their workforce, particularly in marketing and sales roles. 🙋♀️
📰 News of the week👀 A big week for Elon: Tesla Cybercab reveal and SpaceX reusable rocket test
It was a big test for Elon Musk last week. The Tesla We, Robot event featured one of the most anticipated announcements — the Tesla Cybercab, a self-driving taxi expected to launch before 2027 for under $30,000. 🚕
Meanwhile, millions of people streamed as SpaceX successfully caught Starship, the first reusable megarocket booster, after a test flight. This engineering milestone could be pivotal news for space travel. Over a decade later, SpaceX is shaping up to be a formidable leader in rocket flight, now powering two-thirds of NASA’s launches. 🚀
Tesla We, Robot Event: Everything Elon Musk Just Showed, including the Cybercab, Robovan, and More
👩💻 Mountside Ventures creates an accelerator to transform fundraising for emerging VCs
Mountside Ventures has announced the launch of its inaugural VC accelerator program aimed at empowering emerging VC managers in Europe. The program seeks to address the significant funding gap faced by new and developing VC firms, which have proven to be top performers in the asset class, accounting for 72% of the best-returning funds.
With applications now open for its first cohort scheduled to begin in Q1 2025, this initiative aims to tackle the challenges associated with fundraising in the venture capital space by offering a comprehensive package that includes workshops, connections to Limited Partners (LPs), and mentorship tailored for VCs raising their Funds. 🤝
🚀 European scaleups and VCs call for a unified legal entity to enhance startup growth
Leading European scaleups and venture capital firms have signed an open letter advocating for the creation of a new pan-European legal entity named “EU Inc.”
This initiative aims to simplify operations for startups by providing a single set of business rules applicable across all 27 EU countries. Prominent supporters include founders of companies like DeepL, Pigment and Wise, as well as GPs from Seedcamp and Index Ventures.
The proposed “EU Inc” entity seeks to standardize investment processes, streamline cross-border operations, and create a unified framework for employee stock options.
DeepL, Personio, Index, Seedcamp Call for Sweeping Reform to Pan-European Business Laws
👔 Internships & job offersInternships
Investment & Deal Flow Analyst - Station F (Paris)
Visiting Analyst - PT1 (Berlin)
Growth Intern - Revyze (Paris)
Jobs
Investment Manager / Principal - PT1 (Berlin)
Investment Manager - Wellington Partners Life Sciences (Munich)
Product Marketing Manager - Lovable (Paris)
👀 In case you missed it🧪 Our HealthTech Deep Dive series is over.. but don’t worry if you missed it! Check them out here:
👉 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 🖤