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Exclusive: Paris-based Breega closes €250M fund, opens Barcelona office to back Iberian startups

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Paris-based Breega closes €250M fund, opens Barcelona office to back Iberian startups

#Parisbased #Breega #closes #250M #fund #opens #Barcelona #office #Iberian #startups

Paris-originated VC Breega wasn’t enormously well-known in the VC world (it only closed its 1st fund in 2015) until, perhaps, it started attracting attention with its second €110 million Seed fund, just under a year go. It’s portfolio now includes a number of scale-ups including Moneybox, Cuvva, Coverflex and Libeo. Perhaps part of its ‘secret sauce’ is how it has managed to put together an in house-team of experts in growth, talent, and comms, of which more later.

Suffice it to say, Breega seems to be punching all the right numbers. It’s now closed a €250 million venture fund, enabling it to move from funding Seed-stage European companies to now being able to go for Series A stage and beyond. It’s also now opened a Barcelona office (alongside London and Paris) headed up by Partner and recently nominated Head of European Venture, Isabelle Gallo. Breega’s aim is to finance at least 20 companies in total with the new fund. To date, Breega has backed 70 promising portfolio companies across 7 countries.

Breega’s investors include institutional players EIF (European Investment Fund) Bpifrance, Group Crédit Agricole, Amundi, LCL, Isomer Capital and a number of European entrepreneurs, which Breega hasn’t named specifically.

The new fund doubles its assets under management to half a billion euros. This is Breega’s fourth fundraise in seven years.

The new fund will have a strong focus on (although not limited to) fintech and insurtech companies.
Breega’s new fund has also now backed Keebo (fintech), UKIO (proptech) and Mila (insurtech).

Ben Marrel, Co-founder and CEO at Breega said in a statement: “Our fourth and largest fund to date will allow us to finance later stage companies at Series A stage and above and to continue to support our existing portfolio startups as they grow. This new money will also allow us to expand further into the increasingly dynamic Iberian tech ecosystem, one of the most dynamic in Europe.”

Current investments in the Iberian market include property tech Ukio, insurtech and employee benefits platform, Coverflex, and the fintech investment platform, Ninety-Nine.

Breega’s inhouse, free-of-charge ‘Scaling Squad’ consists of a team of experts in growth and pairing, talent, marketing and communication. Ben Stanway, founder and Co-CEO of Moneybox says this “acted like an extension of our own team.”

Replying to me over email, Marrel added: “We’re also very interested in seeing how advances in Blockchain technology and quantum computing will impact innovation – Breega is an early investor in Alice&Bob and we’re very excited to be accompanying them in the race to creating the world’s first fault-free quantum computer.”

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Exclusive: Ford Bronco Heading to Europe in 'Limited' Quantities – CNET – TalkOfNews.com

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Ford Bronco Heading to Europe in 'Limited' Quantities     - CNET

#Ford #Bronco #Heading #Europe #039Limited039 #Quantities #CNET

The auto industry is rife with forbidden fruit, whether it’s Americans lusting over small European cars or Europeans jonesing for high-horsepower American metal. But, as Europe is about to find out, not all fruit stays forbidden forever.

Ford on Monday announced that it will bring the Bronco SUV to Europe. Ford didn’t offer up too many details just yet, saying only that the Bronco will arrive in certain left-hand-drive markets, and that quantities will be “strictly limited.” It should go on sale in late 2023, so Europeans keen to get their hands on one will have some time to figure out how to do that.

By the sounds of Ford’s press release, the EU-market Bronco won’t be much, if at all different from the US-spec Bronco. All the off-road capability is still there, all the cabin tech remains the same, which means it should function as a pretty potent competitor to the Land Rover Defender. A veritable Sears catalog of accessory parts is available for owners to personalize their vehicles, as well.

It’s unclear which of the Bronco’s many variants will show up in Europe. In the US, we’re privy to eight different models, from the base model all the way up to the extra-chunky Raptor. Nearly all are available in a choice of two- or four-door versions, and a 2.3-liter I4 and 2.7-liter twin-turbo V6 are available at different points in the lineup, as well. Autocar’s report casts doubt on the 3.0-liter V6 Bronco Raptor making it to Europe, but hey, some Broncos are better than no Broncos, right?

Late 2023 isn’t exactly around the corner, so it’s likely that Ford will trickle out more information about European Broncos as we creep closer to the targeted on-sale date.

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Exclusive: Core Scientific, a top bitcoin miner responsible for nearly 10% of the network's hash rate, sold 7,202 mined BTC for $167M in June and now holds 1,959 BTC (David Pan/Bloomberg) – TalkOfNews.com

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Core Scientific, a top bitcoin miner responsible for nearly 10% of the network's hash rate, sold 7,202 mined BTC for $167M in June and now holds 1,959 BTC (David Pan/Bloomberg)

#Core #Scientific #top #bitcoin #miner #responsible #network039s #hash #rate #sold #mined #BTC #167M #June #holds #BTC #David #PanBloomberg


David Pan / Bloomberg:

Core Scientific, a top bitcoin miner responsible for nearly 10% of the network’s hash rate, sold 7,202 mined BTC for $167M in June and now holds 1,959 BTC  —  Core Scientific Inc., a top crypto miner, sold the bulk of its Bitcoin holdings in June as a steep drop in digital assets squeezes finances for even the leaders of the industry.


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Exclusive: Check Out This Drag Racing VW Beetle EV – TalkOfNews.com

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Check Out This Drag Racing VW Beetle EV

#Check #Drag #Racing #Beetle

The Late Brake Show

While it may sound a bit odd, people really like to convert old VW Beetles into electric drag-racers. The practice goes back twenty years, and back in 2011, two brothers shocked the world with their Black Current III electric Beetle. Now they’re back with an even more ridiculous car, the “V8-killing” Black Current IV.

Note: Several outlets are clinging to this story under false pretenses. The modified VW Beetle EV doesn’t have 6,500 horsepower—that rating is both outrageous and plainly incorrect. ‘The Late Brake Show’ acknowledges that it made a mistake, but other publications aren’t doing their due diligence.

We decided to share this story because it’s really freakin’ cool. It highlights a scene of enthusiasts who are integral to the rise of EVs. The horsepower doesn’t matter.

While previous Black Current EVs were based on very old VW Beetles, the new model is a heavily modified 2013 mk2 New Beetle. It now has a full carbon-fiber body, plus a custom 22kWh battery pack and 800V architecture. Notably, it runs on a total of four inverters, which diligently control the rotation speed of four permanent magnet Axial flux AC three-phase motors.

Brothers Olly and Sam Young, who built the Black Current IV, believe that it can run a quarter-mile in seven seconds or less. That would make it the “world’s quickest” electric vehicle, which is shocking, given that it’s a modified Beetle and it’s street legal. (The Young brothers haven’t brought this thing to top speed yet, so we can’t confirm how fast it actually moves.)

For reference, the Tesla Model S Plaid recently completed a 9.4-second quarter mile. And the current world-record holder, the Rimac Nevera, made its trip in 8.52 seconds.

This shouldn’t come as much of a surprise—the old Black Current III was a record-setter back in 2011, despite the fact that it ran on a repurposed milk-float motor (an electric motor from a UK milk delivery truck). The only reason why Olly and Sam Young started working on this new Black Current VI is because the previous model crashed at 140 MPH during a drag race in 2017.

Anyway, you should watch the above video made by The Late Brake Show. It covers the Black Current VI and its history in more detail than I’ve provided. Plus, it’s a video, and I know you want to see this weird drag-racing EV.

Source: The Late Brake Show

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