| Hi there, Welcome to the 118th edition of Heartcore Insights, curated with 🖤 by the Heartcore Team. If you missed the past newsletters, you can catch up here. Now, let’s dive in!
A few weeks back, The Economist published an article about how digital twins are set to transform healthcare. The idea is that in the near future, patients might consult with doctors alongside a virtual, real-time replica of their body — your personal digital twin. When these models are continuously updated with the latest health data, they could enhance diagnostic accuracy and enable more personalised treatments in the future. While the concept of a “human replica” is still in its early stages, the groundwork is being laid. In fact, there is a lot of ongoing research using computer simulations for organ modelling to evaluate different and more personalised treatments. A type of testing that would be far too risky to ever experiment with in reality. The rise of digital twins is not limited to healthcare. These models are becoming increasingly prevalent, with applications ranging from monitoring jet engines and vehicle networks to managing supply chains and forecasting sales. Especially the advancements in AI are enhancing the model capabilities: Originally, digital twins were simple computer models of physical objects. With advancements in computing, these models have grown more sophisticated. For instance, a Formula 1 racing car today may feature over 250 sensors that continuously update its digital twin during a race.
Today's digital twins offer advanced problem-solving capabilities, including everything from predicting future scenarios, to testing ideas without real-world consequences. They are essentially providing a virtual sandbox for experimenting with complex problems. While digital twins hold significant promise, they also raise some concern including questions around data privacy, potential for system errors, and the possibility of over-reliance on virtual models. As more applications for digital twins continue to emerge, it will undoubtedly pose new questions. However, the opportunities they present already appear to hold overshadowing potential.
A recent deep dive into rare earth minerals highlights China’s escalating dominance in critical mineral supply chains. The reasoning for this issue gaining urgency can be found in the rising demand for advanced technologies and renewable energy, which rely heavily on these minerals. As the need for these resources grows, China’s expanding control — both domestically and through international ventures — is raising alarms in Western nations. According to the International Energy Agency (IEA), China accounts for 80% of natural graphite and 60% of mined rare earth minerals. For battery-grade graphite alone, China holds a staggering 99% market share. While the growing dominance is raising concerns among Western countries, the latest strategic investments and regulatory measures do not seem to indicate a brighter future: Chinese investments in mining surged by 160% in 2023, with $19.4B directed into projects, particularly in Africa, where Chinese companies hold significant stakes, especially in upcoming lithium supply chains. In addition, China has steadily tightened its control over critical minerals through regulatory measures and foreign access limitations.
To understand China’s growing dominance, it’s essential to consider its future plan for economic growth. Both renewable energy and battery technologies are here deemed central, with China committing $6T in its latest Five-Year Plan — a most likely deliberate move to maintain global reliance on its resources. As China continues to capitalise on its critical mineral supply chains, the rest of the world faces mounting pressure to diversify its sources. Meanwhile, Western mining companies are exploring sustainable alternatives to stay competitive against China’s cost advantages and expanding influence. One thing is clear: bridging this gap could be worth billions.
Qura, a Sweden-based startup building an AI search engine for legal data, raises €2.1M with Cherry Ventures - link Hepta Medical, a France-based startup building minimally invasive lung cancer treatment, raises €5.7M with BPI France - link Findable, a Norway-based startup transforming documentation building with AI, raises €9M with Point Nine - link Tem, a UK-based startup enabling businesses buy renewable energy directly from sources, raises £10.5M with Atomico - link Retraced, a Germany-based platform digitising fashion and textile brands’ supply chains, raises €15M with Partech - link Tilt, a UK-based online shopping platform designed like a social media app, raises $18M with Balderton Capital - link Vsim, a UK-based physics simulation startup, raises $21.5M with EQT - link
Reflect Orbital, a sunlight harvesting startup, raises $6.5M with Sequoia - link Tidal Metals, a producer of decarbonised magnesium using seawater and electricity, raises $8.5M with DCVC - link Supermaven, an AI-powered coding assistant, raises $12M with Bessemer - link Pylon, a B2B support platform, raises $17M with a16z - link Every, providing all-in-one back-office platforms for startups, raises $22.5M with Redpoint/Y Combinator - link Thatch, a personalised health benefits platform for businesses, raises $38M with Index/General Catalyst/a16z - link
Attio, a UK-based CRM software provider, raises $33M with Redpoint/Balderton/Point Nine - link Qualifyze, a Germany-based startup improving pharmaceutical supply chains, raises $54M with Insight Partners/HV Capital - link Marvel Fusion, a Germany-based nuclear fusion startup, raises €62.8M with HV Capital - link Codeium, a US-based AI-powered coding platform, raises $150M with General Catalyst/Kleiner Perkins - link Glean, a US-based enterprise AI search platform, raises $260M with Altimeter/DST Global/Coatue - link Cribl Inc, a US-based data infrastructure startup, raises $319M with Google Ventures - link
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