Big Bets and Bigger Missteps: Startups Pushing Boundaries

Good morning, trailblazers! Welcome to another exciting issue of Going on a Venture, where we bring you the hottest stories from the startup and VC universe, served fresh and fast.

We’re here to be your go-to source for the bold ideas, big raises, and game-changing innovations shaping the future. Whether you’re a founder, investor, or just someone who loves a good underdog-to-unicorn tale, we’ve got you covered.

Enough preamble, you came for the insights, and we’ve got plenty. Let’s jump into today’s top stories!

NEWS

Less Hardware, More Headroom: Blue Bear’s $160M Bet on Smarter Solutions

Blue Bear Capital just landed $160 million for their third fund, and they’re not here to mess around with clunky hardware. Nope, they’re putting their chips on software and AI, the Swiss Army knife of solutions, to tackle big challenges in climate, energy, and industry.

Think steel, cement, and water treatment—but with a software twist. Because why build another giant wind turbine when you can just teach the existing ones to work smarter, not harder?

Take Raptor Maps, one of Blue Bear’s star bets. They use AI to monitor solar farms and boost performance by up to 10%.

That might not sound like much, but it’s the energy equivalent of avoiding three to five new coal plants. Blue Bear is playing the long game here.

For every $5 million they invest in a company, they’re holding back another $10 million for follow-ups. They’re keeping their portfolio tight, with plans to back just 15 companies, proving that less is more when you really know what you’re doing.

Here’s the kicker: they’re not chasing IPOs. Instead, they’re all about strategic exits via mergers and acquisitions (M&A, for the uninitiated).

It’s like skipping the giant wedding and going straight to a quiet elopement, it’s smaller, but still gets the job done.

Robots, Data, and a $16.2M Jackpot: Teleo’s Vision for the Future

Teleo, the robotics startup with big dreams and even bigger machinery, wants to give the robotics world its “ChatGPT moment.”

Teleo is focused on creating massive datasets to help robots learn, adapt, and eventually take the wheel (or joystick).

Think of it as teaching your tractor to text and drive, safely.

Human operators still handle the tricky stuff, like unloading a dump truck, but they can do it remotely while managing multiple machines. Efficiency, meet robotics.

Investors are digging it. Teleo just bagged $16.2 million through two extensions to its Series A round, led by UP.Partners and joined by other fans like F-Prime Capital and Trucks VC.

The cash is fuelling their expansion into industries as diverse as agriculture, waste management, port logistics, and yes, even snow removal.

Apparently, there’s no job too mundane for a smart machine.

Flying Boats and Big Bucks: Candela Glides Into Tahoe (and the Future)

Candela, the Swedish startup that said, “What if boats could fly, kinda?” just added another $14 million to its Series C, bringing the total to $40 million.

With hydrofoiling tech that lifts the boat above water like a futuristic robo-dolphin, Candela’s P-12 electric ferries are smooth, quiet, and perfect for people who want to save the planet and feel like they’re starring in a sci-fi movie.

Candela sold its first U.S. ferry, which is headed to Lake Tahoe. This 30-passenger beauty will provide a sustainable, traffic-free option for getting around the lake, ideal for anyone tired of snowy gridlock or looking for a guilt-free way to cruise in style.

Operated by FlyTahoe.com, it’s the perfect blend of utility and vacation flex. Globally, Candela is already making waves (technically fewer waves thanks to hydrofoils) in Stockholm, New Zealand, Saudi Arabia, and Berlin.

Crunching 400TB a Day: Lighthouse Turns Hotel Analytics Into a Unicorn Business

Lighthouse, the London-based data whiz for the hospitality world, just snagged a whopping $370 million in a Series C led by KKR, officially entering unicorn territory with a $1 billion valuation.

Apparently, hotels really love their analytics, because who doesn’t want to crunch 400 terabytes of data a day to figure out how to charge you just the right amount for that pool-view room?

Unlike your standard hotel management software that deals with bookings and housekeeping schedules, Lighthouse is the cool kid focusing on business intelligence. \

Think pricing optimization, market insights, and strategy tweaks for big names like Holiday Inn and Radisson.

With 70,000 customers already on board, it’s safe to say they’ve figured out how to make number-crunching sexy.

And they’re not stopping there. The fresh cash will go toward beefing up their AI, expanding datasets, and potentially gobbling up more companies.

They’ve already acquired four, including Stardekk, which brought handy reservation software into their growing portfolio.

Unicorn Down: Northvolt’s Missteps Leave Europe’s Battery Plans on Thin Ice

Well, Europe’s battery darling Northvolt just hit a wall, and by “wall,” I mean a Chapter 11 bankruptcy filing in the U.S. Turns out, even unicorns can’t run on fumes forever.

Despite raising a jaw-dropping $14.26 billion (yes, billion) and landing deals like a $1.2 billion round to expand in North America, Northvolt was burning cash faster than a Tesla on Ludicrous Mode, about $100 million a month.

The final nail? BMW pulling the plug on a $2 billion contract in June after Northvolt couldn’t deliver on time. Ouch. For a company that once symbolized Europe’s EV battery ambitions, this feels less like a speed bump and more like driving into a ditch.

But wait, it’s not all doom and gloom. Volkswagen still owns a chunk of Northvolt, and Europe really needs to break Asia’s stranglehold on the battery market.

If Northvolt can clean up its act, find a partner (maybe even one of its rivals?), and stop burning cash like it’s 1999, there’s a glimmer of hope it could reboot.

SUMMARY

• Blue Bear Capital: Raised $160M for a software-first fund tackling climate and energy with AI-driven solutions.

• Teleo: Secured $16.2M to expand its semi-autonomous machinery platform across diverse industries, from agriculture to snow removal.

• Candela: Closed $14M to scale its hydrofoiling electric ferries, including its first U.S. ferry in Lake Tahoe.

• Lighthouse: Bagged $370M to enhance AI-powered hotel analytics, hitting unicorn status with a $1B valuation.

• Northvolt: Filed for Chapter 11 after burning $100M/month and losing a $2B BMW contract, putting Europe’s battery ambitions on shaky ground.

That’s a wrap for today’s edition of Going on a Venture! Hope you enjoyed today’s newsletter with all the ups and downs. ’ll be back tomorrow with more. Stay tuned. Feel free to reply to this email to send us feedback, we want to give you the best.

H