Startup Monday: Latest tech trends & news happening in the global startup ecosystem (Issue 148- December 1)

Welcome to Startup Monday, my weekly newsletter that recaps the week in the global startup ecosystem. To have this newsletter emailed to you, you can sign up here.

Top startup news to follow this week:

1. Roon raises $15M to replace ‘Dr. Google’ with real doctors sharing videos about illness treatments

Vikram Bhaskaran was leading creator partnerships at Pinterest when his father started showing early symptoms of ALS, a rare, terminal neurodegenerative disease.

“It turned my world upside down,” Bhaskaran said. He worked during the day and spent his evenings googling the illness and treatment options and in Facebook groups. But Bhaskaran discovered that finding clear, helpful information about his father’s condition was incredibly difficult.

“I was sitting in Silicon Valley surrounded by some of the brightest minds in engineering and design,” he said. “But when it came to health, I felt it was like the dark ages.”

Roon is aiming to replace googling (commonly called Dr. Google) and legacy healthcare content sites like WebMD and Healthline, with video-based Q&As on thousands of health issues created by doctors in top medical institutions.

2. Biolevate’s raises €6M to helps medical writers keep up with the pace of new drugs

CEO Joel Belafa told TechCrunch: “Nathan Chen (COO) and I have been friends for 25 years. We have long shared the same professional frustrations with how slow and difficult R&D and market access were for therapeutic products, as well as the severe impact this had on patients and the economy in general.”

Even as the pace of drug development is being assisted with the help of AI, the biotech industry still needs to document it all, and this is a laggard sector right now. There’s a huge administrative burden on pharma companies that must create documentation to satisfy regulators.

By combining Chen’s understanding of pharmaceutical processes (learned at Danish healthcare company Coloplast) with Belafa’s expertise in AI for enterprises (from being employee number 20 at French AI unicorn Dataiku), the pair launched their first prototype called Elise. The project caught the attention of Anas Laaroussi and Antoine De Torcy, who joined as CTO, and CPO, respectively.

The company, which recently made Station F’s Future 40 list, optimizes the creation and management of research and compliance documents, using NLP and Computer Vision, effectively working as an AI assistant the writer of a medical documents.

The platform guides a writer through the materials, reducing the time and effort needed to understand or correct the system, Belafa told TechCrunch.

3. Indian VC Stellaris closes its third fund of $300m

Since its founding, Stellaris has invested in 44 startups through its first two funds.

Since its founding, Stellaris has invested in 44 startups through its first two funds.

60% of these investments were in early-stage companies. Noteworthy investments include Mamaearth, which recently went public, and Whatfix, a digital adoption platform that raised US$125 million in its series E round.

4. Boston’s AI FinTech startup EnFi bags $7.5m from top investors

EnFi is dedicated to transforming the lending process through advanced artificial intelligence. By employing sophisticated AI tools, the company scrutinises raw borrower data, seamlessly integrating information from both public and private sources. This integration enables lenders to enhance their risk assessment capabilities and manage loans more effectively. EnFi’s unique methodologies, Continual Risk AnalysisTM and Predictive Risk Identification, provide a holistic view of potential and existing risks within loan portfolios.

The newly acquired funds are earmarked for a strategic expansion of operations and ongoing development efforts. With these investments, EnFi aims to refine its technology and broaden its impact across the lending industry.

Additional insights into EnFi reveal a company poised for growth in various sectors beyond lending. The technology developed by EnFi has potential applications in procurement, insurance, real estate, corporate development, and even venture capital and private equity funds.

EnFi co-founder and serial entrepreneur Joshua Summers said, “This funding allows us to accelerate our mission of transforming lending with AI. Our technology not only enhances how lenders assess risks but also broadens the scope of our impact across various financial sectors.”

5. Amsterdam-based Sympower raises €21.3 million to foster renewable energy integration

Sympower, a leader in energy flexibility services in Europe, has secured €21.3 million in an oversubscribed funding round led by A&G Energy Transition Tech Fund (A&G ETTF), with direct investment from the European Investment Fund (EIF) and participation from existing investors Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital. This investment will support Sympower’s mission to enhance grid stability and foster renewable energy integration across Europe.

With a portfolio of over 2GW of flexible distributed resources, Sympower operates as a demand-side flexibility aggregator across the Nordics and Greece, providing solutions that help stabilize grids and integrate renewable energy sources. Flexibility services, recognized by the European Commission as essential to achieving Europe’s energy goals, are projected to save €12 billion in grid investment costs by 2050.

Strategic expansion into battery energy storage systems

Sympower will use part of the new funding to incorporate battery energy storage systems (BESS) into its service offering, bolstering grid stability and supporting renewable energy integration.

CEO Simon Bushell said: “Sympower has grown tremendously in recent years, which aligns with the unprecedented demand across Europe for diversified and mature energy flexibility solutions. I’m grateful for the continuous support of our investors and delighted to see new ones putting their trust in us. Completing an oversubscribed funding round shows our investors’ confidence in our vision, team, and execution capabilities.”

A portion of the funding will also support strategic mergers and acquisitions to reinforce Sympower’s service offerings in key markets. In addition, Sympower plans to expand its capabilities for industrial companies and renewable energy producers by extending its energy trading services.

New investors and supervisory board members

The funding round welcomed new investors and an expanded Supervisory Board, with Jesús Lozano Lopez from A&G joining the board along with Tim Healy, former Chairman and CEO of EnerNOC.

A&G’s Investment Director, Jesús Lozano Lopez, commented: “We have been following Sympower’s evolution for a few years and were impressed by its unique international footprint and position in the European energy market. Sympower’s significant growth, commercial traction, and European expansion were determining factors which convinced us to invest.”

Long-term investor Rubio Impact Ventures, represented by Partner Helmer Schukken, expressed continued support: “We are thrilled to continue supporting Sympower’s mission to drive the renewable energy transition forward alongside our partner, the European Investment Fund. This joint investment represents our ongoing conviction in the company’s market leadership, enabling grid flexibility and greener power from the commercial & industrial sector.”

Sympower now operates with over 200 employees across ten countries and is poised to leverage the funding to scale its business and further its role in Europe’s energy transition.

6. Cambridge-based Molyon raises €4.3 million to develop next-generation sustainable batteries

Molyon, a University of Cambridge spinout specialising in lithium-sulfur (Li-S) batteries, has raised €4.3 million in its first funding round.

The investment was co-led by IQ Capital and Plural and will be directed towards scaling operations at Molyon’s Cambridge pilot facility. This will involve expanding Molyon’s team, bringing on additional battery engineers, material scientists, and operations staff.

Founded in 2024, Molyon has developed a high-energy-density Li-S battery that utilises earth-abundant materials, addressing the need for sustainable alternatives to lithium-ion (Li-ion) technology. According to Moylon, Li-ion batteries, which dominate today’s market, suffer from low energy density, reliance on critical materials such as nickel, manganese and cobalt that face supply chain issues. In contrast, Li-S batteries promise higher performance and more stable supply chains. They use readily available elements, including sulfur to offer increased range and longevity.

The challenge, until now, has been the instability of sulfur in batteries, which tends to degrade, leading to failure after a limited number of cycles. Molyon’s cathode technology, based on metallic molybdenum disulfide (MoS₂), stabilises sulfur, allowing for reliable performance over hundreds of cycles.

The technology is the result of 15 years of research conducted by Molyon’s founding team in the Chhowalla Group at the University of Cambridge. Co-founders Dr Ismail Sami (CEO) and Dr Zhuangnan Li (CTO) were both part of the research efforts.

The recent funding will enable Molyon to push forward with its plans to commercialise Li-S technology, with initial applications focusing on drones and robotics. These sectors stand to benefit significantly from the lighter weight and longer range of Molyon’s batteries. The company aims to ultimately enter the electric vehicle market, where the potential to double driving range presents a substantial advantage.

7. Sofia-based AMPECO raises €24.7 million to expand global EV charging management platform

AMPECO, a Bulgarian provider of EV charging management solutions, has secured €24.7 million in a Series B funding round led by Revaia, with participation from existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures.

Founded in 2019, AMPECO offers a white-label, hardware-agnostic platform that enables charge point operators (CPOs) and e-mobility service providers (eMSPs) to efficiently scale their EV charging operations. The platform supports over 160 clients in 60 countries, connecting more than 120,000 charging stations.

“ This investment is a testament to the hard work of our team and the trust our clients place in us, “ said Orlin Radev, CEO of AMPECO. “ With this funding, we’re poised to further drive innovation in EV charging management software, helping our clients build and scale robust charging networks that will accelerate the global transition to electric mobility. The positive market feedback has reinforced our vision for 2025, as we prepare to launch new platform capabilities focused on operational excellence and network scalability .”

AMPECO has established partnerships with industry players, including EON Drive Infrastructure in Europe, ChargeGuru x Zeplug in France, Free2Move in the US, and Nordic leaders Wattif and Elaway. These collaborations highlight the platform’s ability to meet the demands of large-scale EV charging operators worldwide.

This latest investment brings AMPECO’s total funding to €39.9 million and will support AMPECO’s plans to enhance its platform’s capabilities, expand into key markets such as Western Europe, Scandinavia, North America, and Southeast Asia, and double its team size over the next two years.

8. Zurich-based Cradle raises €69.5 million to develop protein engineering with generative AI

Cradle, a Swiss platform for AI-powered protein engineering, has secured €69.5 million in a Series B funding round led by IVP , with participation from previous investors Index Ventures and Kindred Capital.

This investment brings Cradle’s total funding to over €95.3 million, enabling the company to scale operations and accelerate adoption of its generative AI platform for protein research and development.

Cradle’s technology addresses challenges in engineering proteins, which are crucial to producing pharmaceuticals, eco-friendly pesticides, animal-free foods, and other sustainable solutions. According to Cradle, traditional protein engineering methods are slow, costly, and unreliable, often requiring years of research and significant resources with no guarantee of success. Cradle’s AI platform aims to transforms this process by reducing experimental cycles, enabling faster, more cost-effective discovery and development of improved proteins.

The platform has demonstrated its impact across industries including therapeutics, diagnostics, food, chemicals, and agriculture, with notable clients such as Novo Nordisk, Johnson & Johnson Innovative Medicine, Novonesis and Grifols.

Cradle’s technology also ensures data security and intellectual property protection for its customers, allowing organisations to retain full control of engineered proteins. Its adaptable architecture supports applications in pharmaceuticals and industrial use cases, including enzymes, antibodies, vaccines, peptides, and therapeutic proteins.

The Series B funding will enable Cradle to expand its in-house wet lab, generating additional datasets to train its models for more complex challenges. The company will also grow its engineering team to advance machine learning capabilities and support a broader range of tasks.

9. Zepto raises another $350M amid retail upheaval in India

Indian family offices, wealthy individuals, and asset manager Motilal Oswal invested in the round, which maintains Zepto’s $5 billion valuation. Motilal co-founder Raamdeo Agrawal, family offices of Mankind Pharma, RP-Sanjiv Goenka, Cello, Haldiram’s, Sekhsaria, and Kalyan, as well as celebrities Amitabh Bachchan and Sachin Tendulkar are among the backers in the new investment, which is the largest fully domestic primary round in India.

Quick-commerce platforms are creating a “parallel commerce for convenience-seeking customers” in India, Morgan Stanley wrote in a note this month.

Zepto and its rivals — Zomato-owned Blinkit, Swiggy-owned Instamart, and Tata-owned BigBasket — currently operate at lower margins than traditional retail, and Morgan Stanley expects market leaders to reach contribution margins of 7% to 8% and adjusted EBITDA margins of more than 5% by 2030. (Zepto is currently spending about $35 million a month, according to many people familiar with the figure.)

10. Crusoe, a rumored OpenAI data center supplier, has secured $686M in new funds, filing shows

“A company at our stage of growth is always talking to investors,” a spokesperson for Crusoe told TechCrunch.

Should Crusoe successfully raise $818 million, it would bring the startup’s total raised to approximately $1.5 billion in equity and debt. Late last year, Crusoe secured $200 million in debt using its data center chips as collateral to buy thousands of AI processors.

Crusoe launched in 2018 as a cryptocurrency business, powering its data centers with natural gas that would otherwise be “flared off” and wasted. Like many crypto mining operations, Crusoe pivoted as AI rose to prominence, securing deals with AI companies to provide high-performance computing and AI infrastructure.

Crusoe, the GPU infrastructure provider, that it’s stockpiled a jaw-dropping $12.7 billion in available funds, including nearly $10 billion in debt and nearly $3 billion in equity. Lambda Labs in early April secured a special-purpose financing vehicle of up to $500 million. The nonprofit , backed by crypto billionaire Jed McCaleb, last October announced that it’s investing $500 million in GPU-backed data centers. And Voltage Park , a cloud GPU host that also conducts generative AI research, in March landed $106 million in a Salesforce-led round. Together AI

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