This Month in German, Swiss, and Austrian (GSA) Startups - May 2023 | Episode #385
06/01/23 • 31 min
Welcome to our May 2023 wrap-up with important news from the startup scenes in Germany, Austria, and Switzerland in 30 minutes or less 🙂.
We follow our top-down structure in the news: First, the top news, then we look with a bird's eye view at the startup ecosystem in the German language countries, dig deeper by looking at exciting startup cities and end with general news. And for those serious about startups, there is even a collection called: "Stay Ahead of the Curve," where we share in-depth reads, articles, studies, and podcasts.
Our next news episode will be published on June 29th, and then we are - for the news - in summer break.
Our Highlights:
Germany is now officially in a recession, but one with barely any unemployment. Also, we still track many startups going out of business, BUT the overall picture is improving. The German VC and PE Barometer - which captures the mood of many German investors - is showing an uptick. This shows especially in the massive amount of new funds raised; they promise a bright future for startups! We tracked at least 3,4 bn Euros of newly raised funds, which will be invested entirely or partially in startups in Europe and GSA. Look at our medium blog; we have more information on what the investors are looking for and how to pitch them. We also have investments and exits worth at least 5,4 bn Euros and news in this episode, including WeFox, Tier Mobility, Infarm, Blinkist, Bitpanda, Aleph Alpha, Sono Motors, and many more.
Let's talk startups:
Find all links and the other news here: https://medium.com/startuprad-io/this-month-in-german-swiss-and-austrian-gsa-startups-may-2023-episode-385-87fd564d483a
Tune in to our 24/7 Tech Entrepreneurship Internet Radio Station here:
Subscribe Here
Find all options to subscribe to our newsletter, podcast, YouTube channel or listen to our internet radio station here: https://linktr.ee/startupradio
Our Enablers
This recording is supported by HTAI and the Enterprise Europe Network Hessen
Look for our dedicated sub-podcast in partnership with them: Tech Startups Germany on our https://linktr.ee/startupradio
Startupraven.com
The best way to identify investors and cooperation partners for early-stage startups. Sign up for early access here: https://startupraven.com/
Top News
Deal or No Deal?
Getir is in talks to take over German grocery app rival Flink | Financial Times
But then: Flink's sale to Getir fell through. Now Flink is raising 150 M € from investors, including grocery giant Rewe and Doordash
Tier Mobility to Merge with Competitor
European e-scooter giant Tier Mobility maps route to merger
Will Infarm Be Soon Outfarm?
Infarm keeps shrinking and is leaving Europe, reports Handelsblatt. The greenhouse startup reportedly has only 80 employees in Europe left and will get an investment at an unknown valuation for their relocation - likely to the Middle East with low energy prices
Blinkist Makes a Large Exit!
Berlin-based startup Blinkist is sold to Australian education startup Go1 for an undisclosed amount, reported to be "hundreds of millions." Blinkist offers short wrap-ups of nonfiction books as text or audio
Large Drops in Valuations are Not Only for the Small Companies
Bitpanda boss admits his company may now be worth only 2.5–3 bn US$, vs 4.1 bn US$ valuation at their August 2022 funding
Germany Will Have Another Gigafactory
but not from Tesla. Swedish unicorn Northvolt builts Gigafactory in the north of Germany for 4.5 bn Euros - thanks in part to large subsidies
Heidelberg-based AI Startup Aleph Alpha is Seen as a Promising Competitor of ChatGPT, and Big Names Line Up to Invest
SAP CEO indirectly confirms their investment in German AI startup Aleph Alpha, rumored to be up to 100 m Euros
Related news later emerged: We reported that SAP wants to invest in Heidelberg-based ChatGPT competitor Aleph Alpha, now Intel also shows interest in investing
WeFox closed large funding
wefox raises $110M in Debt and Equity Funding to become profitable: Wefox secures new funding at $4.5 billion valuation as it aims for profitability. The company sells insurance products through in-house and external insurance brokers.
Sono Motors has to file for bankruptcy
Welcome to our May 2023 wrap-up with important news from the startup scenes in Germany, Austria, and Switzerland in 30 minutes or less 🙂.
We follow our top-down structure in the news: First, the top news, then we look with a bird's eye view at the startup ecosystem in the German language countries, dig deeper by looking at exciting startup cities and end with general news. And for those serious about startups, there is even a collection called: "Stay Ahead of the Curve," where we share in-depth reads, articles, studies, and podcasts.
Our next news episode will be published on June 29th, and then we are - for the news - in summer break.
Our Highlights:
Germany is now officially in a recession, but one with barely any unemployment. Also, we still track many startups going out of business, BUT the overall picture is improving. The German VC and PE Barometer - which captures the mood of many German investors - is showing an uptick. This shows especially in the massive amount of new funds raised; they promise a bright future for startups! We tracked at least 3,4 bn Euros of newly raised funds, which will be invested entirely or partially in startups in Europe and GSA. Look at our medium blog; we have more information on what the investors are looking for and how to pitch them. We also have investments and exits worth at least 5,4 bn Euros and news in this episode, including WeFox, Tier Mobility, Infarm, Blinkist, Bitpanda, Aleph Alpha, Sono Motors, and many more.
Let's talk startups:
Find all links and the other news here: https://medium.com/startuprad-io/this-month-in-german-swiss-and-austrian-gsa-startups-may-2023-episode-385-87fd564d483a
Tune in to our 24/7 Tech Entrepreneurship Internet Radio Station here:
Subscribe Here
Find all options to subscribe to our newsletter, podcast, YouTube channel or listen to our internet radio station here: https://linktr.ee/startupradio
Our Enablers
This recording is supported by HTAI and the Enterprise Europe Network Hessen
Look for our dedicated sub-podcast in partnership with them: Tech Startups Germany on our https://linktr.ee/startupradio
Startupraven.com
The best way to identify investors and cooperation partners for early-stage startups. Sign up for early access here: https://startupraven.com/
Top News
Deal or No Deal?
Getir is in talks to take over German grocery app rival Flink | Financial Times
But then: Flink's sale to Getir fell through. Now Flink is raising 150 M € from investors, including grocery giant Rewe and Doordash
Tier Mobility to Merge with Competitor
European e-scooter giant Tier Mobility maps route to merger
Will Infarm Be Soon Outfarm?
Infarm keeps shrinking and is leaving Europe, reports Handelsblatt. The greenhouse startup reportedly has only 80 employees in Europe left and will get an investment at an unknown valuation for their relocation - likely to the Middle East with low energy prices
Blinkist Makes a Large Exit!
Berlin-based startup Blinkist is sold to Australian education startup Go1 for an undisclosed amount, reported to be "hundreds of millions." Blinkist offers short wrap-ups of nonfiction books as text or audio
Large Drops in Valuations are Not Only for the Small Companies
Bitpanda boss admits his company may now be worth only 2.5–3 bn US$, vs 4.1 bn US$ valuation at their August 2022 funding
Germany Will Have Another Gigafactory
but not from Tesla. Swedish unicorn Northvolt builts Gigafactory in the north of Germany for 4.5 bn Euros - thanks in part to large subsidies
Heidelberg-based AI Startup Aleph Alpha is Seen as a Promising Competitor of ChatGPT, and Big Names Line Up to Invest
SAP CEO indirectly confirms their investment in German AI startup Aleph Alpha, rumored to be up to 100 m Euros
Related news later emerged: We reported that SAP wants to invest in Heidelberg-based ChatGPT competitor Aleph Alpha, now Intel also shows interest in investing
WeFox closed large funding
wefox raises $110M in Debt and Equity Funding to become profitable: Wefox secures new funding at $4.5 billion valuation as it aims for profitability. The company sells insurance products through in-house and external insurance brokers.
Sono Motors has to file for bankruptcy
Previous Episode
This Month in German, Swiss, and Austrian (GSA) Startups - April 2023 | Episode 380
Welcome to our April 2023 wrap-up with important news from the startup scenes in Germany, Austria, and Switzerland in 30 minutes or less 🙂.
Our Highlights:
Considerable funding made headlines last month. We have more than 600 M euros in funding in our highlights alone. A potential large exit: Software AG, the Darmstadt-based listed software company, is close to a 2.4 bn US$ exit with an offer from Silverlake Partners. Also, Berlin-based Blinkist may be close to a 200 M € exit. Hundreds of millions of raised funds were announced by Enpal (via ABS), Isar Aerospace, IntegrityNext, Razor Group, and Tado. Also, SAP is close to investing in Germany’s hottest AI startup Aleph Alpha from Heidelberg. Diverging picture in Airtaxi space: Lilium is looking for new investors; Volocopter builds the taxis and expects them to fly in less than 500 days at the Paris Olympics.
Let’s talk startups:
Top News
Software AG Close to a Multi-Billion Acquisition
Private-equity firm Silver Lake Partners, based in Menlo Park, is close to buying Germany’s Software AG in $2.42 billion deal. The offer is already public, reported Reuters. Shares of listed Software AG jumped 53% at the announcement. The investor already knows the company: In February 2022, Silver Lake had invested 344 million euros in the software developer’s convertible bond, which upon conversion would represent nearly 9% of issued Software AG shares.
Enpal Raises More Than 300 M€
Enpal raises up to €356 million via Securitization of Solar Receivables with first German residential solar ABS. ABS are asset-backed securities, that means if Enpal can not pay interest or pay back the final sum, the investors have the collateral (assets) backing the security
Blinkist Close to 200 M € Exit
Reports blog Deutsche-Startups, with an offer from an — yet unnamed — American company. The blog, with its founder Alexander Hüsing is usually pretty well informed and has been right before.
Isar Aerospace Closes €155 Million Funding
Isar Aerospace closes €155 million Series C funding round, ignition sequence start, all engine running. Investors are 7-Industries Holding, Bayern Kapital via its Scale Up Fund Bavaria, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche Automobil Holding SE (Porsche SE), UVC Partners, and Vsquared Ventures
100 m € for IntegrityNext
The company has been bootstrapped for seven years, but now IntegrityNext takes €100 million from EQT Growth fund.
Razor Group Raises 88 M US$
Berlin-based Razor Group, an e-commerce aggregator, closes Series C at $88M at $1.2B valuation, acquires Stryze to consolidate.
Tado Raises Money, As IPO Plans Falter
Smart thermostat startup Tado wanted to IPO but then came Corona and Ukraine. They originally wanted to explore a sale or IPO after their 2021 fundraising, but the SPAC deal faltered and they needed to adapt. So they raised 46.9 M US$. Their existing investors already include Siemens, Amazon, and EON.
SAP To Invest In AI Startup Aleph Alpha
German press reports that the software giant SAP is about to invest in German ChatGPT competitor Aleph Alpha, which also claims to have eliminated fake news from its software. As yet, the valuation and investment are not known.
Related: Heidelberg-based startup, a competitor of ChatGPT, claims to have eliminated fake news from its tool Luminous
Airtaxi Lilium is Looking for New Money, and Volocopter is Planning to Fly
Airtaxi Lilium: 0 Euro revenue, 253 mn € losses. They are looking for new investors. Volocopter on the other hand, wants to start operating their drones as taxis ASAP. They also pledged to operate their air taxis in Paris, during the Olympic Games, in less than 500 days.
Related: Volocopter starts production — founders magazin
All Links and Show Notes
Here is our blog post: https://medium.com/startuprad-io/this-month-in-german-swiss-and-austrian-gsa-startups-april-2023-episode-380-88b68d4bd32d
Mentioned in this episode:
Startupraven.com
The best way to identify investors and cooperation partners for early-stage startups. Sign up for early access here: https://startupraven.com/
This podcast uses the following third-party services for analysis:
Podder - https://www.podderapp.com/privacy-policy
Chartable - https://chartable.com/privacy
Next Episode
This Month in German, Swiss, and Austrian (GSA) Startups - June 2023 | Episode #64
Welcome to our June 2023 wrap-up with vital news from the startup scenes in Germany, Austria, and Switzerland in 30 minutes or less 🙂.
We follow our top-down structure in the news.
Welcome to our startup news wrap-up for June 2023 by Startuprad.io with Chris from New York and Joe from Frankfurt. We recorded this news episode on June 27th, 2023. All news not yet included here will be published in our next news episode. Find all links to the quoted news on our Medium blog link below.
Note: We will now go into the summertime: In July and August we will only publish content every other week AND the next startups news will be our summer wrap-up, to be published on September 4th, in the US celebrated as Labor Day.
Our Highlights:
1 Komma 5, a Greentech startup, becomes a unicorn after only 23 months. We are wondering if this is the rise of climate tech startups already? Switzerland has a record funding with Teylor of 275 m €. GetYourGuide shows travel tech is back in favor of VCs with 194 m US$ funding. Germany and Intel agree on subsidies and investments for a new mega chip factory worth more than 30 bn Euros. Fernride, a pioneer of autonomous electric trucks, gets a 30 M US$+ Series A funding.
Let’s talk startups:
Top News
The Rise of Climate Tech Startups Has Begun, So It Seems
Hamburg’s 1KOMMA5° has raised €430 million — and just become a unicorn at just 23 months old
Related: 1KOMMA5 buys danish solar company Viasol
Related: 430 mn debt funding
A Record Funding for Switzerland
Swiss-based SME lending fintech Teylor raises 275 m Euro, gaining Barclays as a new investor. Other investors include M&G Investments ...
Traveltech Startups Seem to Be Back
GetYourGuide raises $194 million to fuel curated travel experiences and global expansion
30 bn For a New Chip Factory
Intel, Germany strike record €30B deal for chip mega-factory
Do You Know Fernride?
FERNRIDE a German pioneer of autonomous, electric trucks, raises 31 M USD in Series A funding
Find all Links and Show Notes here
Startups, Venture Capital, Unicorn, New Unicorn, Europe, Germany, Austria, Switzerland, Scaleups, Tech News, Venture Capital News, Startup News,
Mentioned in this episode:
Startupraven.com
The best way to identify investors and cooperation partners for early-stage startups. Sign up for early access here: https://startupraven.com/
This podcast uses the following third-party services for analysis:
Podder - https://www.podderapp.com/privacy-policy
Chartable - https://chartable.com/privacy
Security Sutra - Cybersecurity Startups and Venture Capital - This Month in German, Swiss, and Austrian (GSA) Startups - May 2023 | Episode #385
Transcript
Automated Transcript This Month in GSA Startups â May 2023 E #385
Announcer (00:00:05) - Welcome to Startuprad.io, your podcast and YouTube blog covering the German startup scene with news interviews and live events.
Chris (00:00:20) - Hello and welcome to our May, 2023 wrap up, uh, with this month in German, Swiss, and Austrian startups. We, as always, will bring you the important news from the startup scenes in Germany, Austrian, Switzerland, in 30 minutes or less, which t
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