The future of voice AI, boosting sustainable agriculture, breakthroughs in water purification, and much more...
What's Up Tech? #209
Welcome to our 209th newsletter, written with 🖤 by Annika Bautista and Sarah Luna Mongin, featuring an interview with Loreley Mac Donald.
🔍 Topics we'll cover this weekFundraising news from the week: the corporate travel industry rebounds from COVID, the future of AI-powered audio, and a leap forward for quantum 🖥️
Up-and-coming ventures to watch: a big week for CleanTech with solar-powered greenhouses and an innovation to destroy toxic “forever chemicals” in wastewater
Career Corner: featuring advice from Loreley, VC Investor at Korelya Capital
Internships & Job offers of the week
Enjoy the read! 💛
🤑 Fundraising of the week⛱️ TravelPerk raises Series E round at $2.7 billion valuation (🇪🇸)
The travel and tourism industry is bouncing back to pre-pandemic levels like it owns the place. 🕶️
Barcelona-based TravelPerk has raised $200 million, nearly doubling its valuation from $1.4 to $2.7 billion, as it continues to offer an integrated platform for managing business travel, reporting, and expenses.
As part of its expansion, TravelPerk has also acquired Swiss startup Yokoy, enhancing its platform with native expense management capabilities.
TravelPerk Raises $200M as Valuation Nearly Doubles to $2.7B
🗣️ ElevenLabs is building a future of audio-first digital interactions with $180 million in Series C funding (🇬🇧)
ElevenLabs secured $180 million in Series C funding, tripling its valuation to $3.3 billion vs. previous year. The round was led by a16z and ICONIQ Growth.
According to Mati Staniszewski, CEO and Co-founder of ElevenLabs, “Speech is how we naturally communicate. This funding moves us closer to a world where digital interactions happen by voice - fluid, natural, and as effortless as a conversation.” With this new round of funding, the company is focusing on creating more expressive and controllable voice AI, expand developer tools, and enhance AI safety. 👷
In the past two years since its launch, millions of users have generated 1,000 years' worth of audio content. 🤯 They have also launched innovations like conversational voice AI, custom voice design, and an e-book-to-audiobook app.
ElevenLabs Raises $180M Series C to Be the Voice of the Digital World
💻 Alice & Bob secures €100 million to lead the quantum computing revolution (🇫🇷)
French quantum computing pioneer Alice & Bob has raised €100 million in a Series B funding round led by Future French Champions (FFC), AVP, and Bpifrance. This investment will accelerate the company’s mission to develop the world’s first fault-tolerant quantum computer by 2030.
Since its founding in 2020, Alice & Bob has raised €130 million, grown to over 110 employees, and demonstrated experimental results surpassing industry giants like Google and IBM. The company specializes in cat qubits, a breakthrough technology that naturally suppresses bit-flip errors, enabling more efficient and scalable quantum architectures. 📈
Alice & Bob Secures €100M for Fault-Tolerant Quantum Computing
🚀 FSG closes €74 million for Fund II to back Nordic deeptech (🇸🇪)
Fåhraeus Startup and Growth AB (FSG) has announced the final close of its €74 million for Fund II, with the European Investment Fund as a key backer. The fund will focus on early-stage deeptech and life sciences startups across the Nordics. With a track record of supporting high-impact companies, FSG aims to strengthen the region’s innovation ecosystem. 🙌
🫁 Quibim's AI medical imaging ambitions get $50 million boost(🇪🇸)
Healthtech startup Quibim has secured $50 million in Series A funding to advance its AI-driven medical imaging solutions across oncology, neurology, immunology, and metabolic disorders. With AI rapidly transforming healthcare, Quibim aims to enhance diagnostic accuracy and disease detection using visual data from X-rays, CT scans, and MRIs.
The company’s flagship product, QP-Prostate, focuses on improving prostate cancer detection, with additional tools in development for the brain, liver, breast, and lung. Quibim also offers QP-Insights, a solution for analyzing multi-omics data to support clinical trials and related research. 🩻
🌍 Keey Aerogel is boosting European resilience with the continent’s first “green aerogel” with €18 million Series A raised (🇫🇷)
Keey Aerogel secured €18 million in Series A funding led by Bpifrance’s SPI 2 fund and WIND. The company produces sustainable and fully circular aerogels from construction waste. 🗑️
While use-cases span different industries, Keey Aerogel is initially targeting a key issue in EV battery safety. They claim that they can help delay the spread of battery fires by 5 to 10 minutes. With the rising necessity for localized production, Keey Aerogel is also coming at an opportune time to support the move to European manufacturing sovereignty. 💪
Keey Aerogel Raises €18M Series A to Scale Europe’s First Green Aerogel
🔥 Up-and-coming startups to watch💧Oxyle raises $15.7 million to scale PFAS elimination technology from wastewater (🇨🇭)
Zurich-based clean-tech startup Oxyle has secured $15.7 million in funding to scale its innovative solution for destroying toxic PFAS chemicals in wastewater. Led by 360 Capital, this round builds on Oxyle's $3 million pre-seed raise in 2022.
PFAS, known as "forever chemicals," are pervasive pollutants found in products like firefighting foam and non-stick cookware. Unlike traditional methods that merely filter or concentrate PFAS, Oxyle's technology permanently destroys these harmful molecules, achieving over 99% elimination rates while consuming 15 times less energy than existing alternatives.
🌱 Voltiris raises €5 million Seed round to scale solar-powered greenhouses (🇨🇭)
With applications in over 10,000 hectares of Dutch greenhouses, Voltiris is driving the future of energy-independent agriculture. The EPFL spinoff raised €5 million in Seed funding to expand its spectral filter technology for greenhouses. This technology allows plans to receive ample light, while converting unused wavelengths into energy.
The company has completed 12 pilot projects across Europe and partnered with energy providers to support decarbonization efforts. 🔆
Swiss-based Voltiris Raises €5M to Boost Solar-Powered Greenhouses for Sustainable Agriculture
🍏 Career Corner ft. Loreley, VC Associate at Korelya CapitalIf you were a student now, what three things would you do to land an internship or full-time role in VC?
Stay in the Loop: Keep yourself updated on the tech scene—know the latest fundraising rounds and latest technology innovations.
Think Outside the Box: Look for those not-so-obvious or niche companies/industries. This can really help you stand out in interviews.
Know Your Strengths: Reflect on what unique skills you bring to the table, whether it’s improving internal processes or being a great communicator.
What is one skill or competence candidates should develop to stand out?
You really want to sharpen your analytical skills.
Get comfortable with market trends and financial concepts, and connect them to real investment opportunities. Don't just think about business or technologies you like—think about how they translate into returns on investment.
For example, can you break down why a seemingly niche vertical software might have massive scaling potential?
What’s the biggest mistake students make when applying or interviewing for VC roles?
Not being prepared enough! Seriously, it’s a bummer when candidates don’t know the fund's investment thesis or haven’t identified interesting companies. And knowing common business models (like SaaS or marketplace) is key.
I got so tired of seeing unprepared candidates that I shared this question list ahead of interviews.
What’s a common misconception about working in VC?
A lot of people think VC activity is very linear, but that’s not the case.
It really depends on market dynamics—like whether companies are raising funds right now—and where your fund is in its lifecycle (how much capital is left to deploy).
What are questions your team doesn’t get asked often enough about the industry?
People rarely ask about the differences between late-stage VC, private equity, and early-stage investing. Understanding these distinctions can help you figure out where you want to fit into the industry.
How did you leverage your network to get where you are today?
One advice would be to stop thinking networking isn’t just a chore; it’s about building meaningful connections with people who share your interests. Get out there and connect authentically! Make your message personal and show genuine interest.
Don't just ask for a job—ask for insights, advice, or to learn about their journey. Remember breaking into VC is about curiosity, preparation, and authentic connections!
👔 Internships & job offersInternships
VC Analyst - AFI Ventures (Paris)
VC Analyst - Obratori (Marseille)
Visiting Analyst - YZR Capital (Munich)
Jobs
Associate - Seed Capital (Copenhagen)
Associate - Entrepreneur First (London/Paris)
Investment Associate - Walter VC (Barcelona/Munich)
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 🖤