This Month in German Startups - December 2021

ABOUT THIS EPISODE

HoHoHo Welcome to This Month in German Startups in December 2021 by Startuprad.io - in a news recording with Chris from New York City and me Joe, from Frankfurt am Main.

We recorded this new episode on Monday, December 20th. All news not included here will be published in our next news episode. There will also be our annual Fintech Review on December 25th and we will be back with an AI startup interview on January 13th. So we take a few weeks off around the holidays. Happy Holidays!

We are not there yet, so let's get started:

Today we bring you another new unicorn, a monster funding of 266 mn US$ at Mambu, Volocopter calls off its SPAC IPO and gets a backlash from its early crowd investors, also Jokr is now the 3rd quick delivery unicorn - in record time - and we have an update on Sono Motors. We also take a look at the State of European Tech survey by Atomico and several news pieces on the German Venture Capital Market, as well as VC in general.

Let's talk startups:

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This show was made possible by Hessen Trade and Invest with their brand Invest-in-Hessen. You can learn more about them here (https://www.invest-in-hessen.com/). We also run a dedicated sub-podcast with all interviews and news in cooperation with them. Find it all here: https://anchor.fm/techstartupsgermany

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Find all links and extensive show notes here: https://www.startuprad.io/blog/this-month-in-german-startups-december-2021/

Welcome to start up bread, that I oh your podcast and Youtube blog covering the German startup scene with News, interviews and live events. Hello and welcome everybody. This is this month in German startups in November. Twenty twenty one by start up rate. That welcome to this month in German startups in November. Twenty twenty one by start up rder Theo. In a news recording with Chris from New York. Hey, how you did undering fine, hey from me are and, of course, me Joe from Frankfort. We recorded this episode on Friday November nineteen. You to travel plans of both of us, and all the news included here will be public. Not included will be published in our December News. So we keep tracking, we keep collecting and the December news actually will go live on December twenty three. There will also be our annual fintack video on December twenty five, and then we will take a break and be back with the interview of an a I start up on January thirteen. So we take a few weeks off around the holidays. We are not there yet, so let's get started. Today we have EA scooter tears new funding, an acquisition and twenty six, pulling the block on their US operations already in January, two thousand and twenty two, and, of course, the amazing IPO of Zono Motors on NASTAC. They are also new UNICHORDS. To announce. We proudly present Frankfurt's first Unicorn, the intertech Clark. Also raise a group and Amazon shop buyer becomes a Unicorn with a one hundred twenty five million you as dollar fund raising and this time in November twenty twenty one. There is no unique corn track out. We will keep our eyes open and maybe in the next news there will be a unique corn tracker companion. Christian. You know what, I haven't heard any anything from your sirens for me sound bar yet. So well, I far you owe me a donor for this recording. I can hear them in the back. So yeah, to start things off, obviously here from the US, happy Thanksgiving. Things are giving up for the holiday season. It's still quite warm, but yeah, we will have celebrate Thanksgiving and then basically it's time for Christmas and the New Year's we are talking a bit about our and Apler's invest in Hessan. So the whole show as always was made possible, but that hasn't trade and invest with their brand in invest in Hassan't. You can learn more about them at invests in Hassancom. We also run a dedicated sub podcast with all...

...interviews and news and corporate cooperation with them. The link for that. I mean it's basically easy. It's anchored or FM. Tech startups Germany, now that I hear the silence since you've spoken about it. And start up a raven, which is the best way to identify investors and corporation partners for early stage startups. You can sign up for early for early access, at start up ravencom and it's the new project of our company. You could say top news. That was like the little ad break top news you already mentioned it. Tier Tier Raises Capital and bias, a bicycle rental company. Tier had scoots off with two hundred million US dollars, all equity. First close over series D plus. They took over the bike rental service next bike, but they did not disclose the price. So they themselves say the combined force of the two companies will create Europe's largest and most diverse micromability provider, with more than two hundred fiftyzero vehicles and over four hundred cities. So now the whole company is valued at around one point seven bill in euros, close to to building US dollars. We have and twenty six. We've spoken a lot about them, a German new bank which has quite a lot of success but also is in the headlines quite a lot, with some growing pains, you could say, and one of them is that they are now pulling the plug on their US operations. They will stop on January Eleven, two thousand and twenty, two thousand and twenty two. So if you ever got your bank account, they're not much time to shift your main account. And Twenty six started in the US in two thousand and nineteen and now, only two and a half years later, closes its own operations. They're up to you, back to you. They actually pursue what they call a your first strategy. Let's see how this works out, but my personal feeling is that those new banks just on APPS. They have a tough time entering the US market. Talking about a better time, we have three new UNICORNS to announce. Admittedly so no, mortorus is a is not necessarily a Unicorn when you define it as privately held companies with a valuation of above one billion yeas dollars, because they just ipoed on NASTAC in New York. Chris, did you notice anything of Zono Motors IPO there now? But I also was traveling. So and of...

...course, clock Dot d e and raise a group. Let's start out with Sono Motors. Successful IPO at NASTAC. Sono Motors, the Munich based Solo Car Company, had a great IPO. They offered their shares for fifteen you as dollar and reached yesterday, on first trading, a high of almost thirty nine U as dollars. This is all despite delivering their first car only next year. Admittedly, they have sixteen thousand pre orders on the books. In total, they will have raised approximately one hundred thirty five million you as dollars, at a two point six building you as dollar valuation. The two founders, Jonah Christ Chris Junah Christians and Laohin Han Lauren Harn't, I assume, retain the majority of the votes and of course, very happy to announce that finally, finally, finally, Frankfort has its first Unicorn. Frankfort based INTROTECH Clark gets the website, finance and the e from the venture capital arm of the insurance giant Alliance called Alliance Egg in an all share ayres deal the transaction and of course there's also a investment included valleys clock at more than one building. You as dollars, becoming Frankfort's first Unicorn. In exchange, alliance x becomes the largest minority shareholder. Of course you can learn more about the complicated transaction and the founder, because we interviewed him two times already on our blog post related to that go down. Wherever you listen to this or watching this, there's a link to our blog posts and there you can find the link to this specific block posts as well. There is also building based raiser group, spelled a, spelled are a set oh are, they are an Amazon shop buyer and there raise one hundred twenty five million years dollars and crack the Unicorn valuation ecosystem. Let's talk a little bit the birds. I few. We have a nice article how data is helping European VC's to find the next hidden gem and the German Retail Association forecast for Black Friday inside on Monday week four point nine. Building your revenue in Germany. Let's go to the hops section and of course we always thought out with Frankfort and as always, the order of the news is just the order we found them. Nothing prioritized here. As we said, clock is Frankfort's first Unicorn, and Frankfort not just...

...a win as cities fight over green finance ground. This is a Frankfort's chance to become the global center of Green Finance. They actually get a global headquarter there. You can read more in the Plumburg article in the show notes. No more paper. Frankfort based start up paper less has hundreds of clients waiting to be the first customers. They help you get rid of hard copy contracts and documents. Another needs from Frankfort. Their Frankfort based front of funds. So that means that is a fund that does not directly invest in startups but in other VC funds. Has closed its twenty million race for Multiple Fund too, and, as I said, the company is called multiple capital. Vita BIA secure sex six million investment from etfs capital. Of course, you can learn more about the founder in our interview with him. Helen ventures and Porsche ventures invest in Frankfort based customer loyalty start up and charge like the and sign and charge and undisclosed amount. We will have them in our interview before the January News. It will be published soon. And the last news. We have already announced that fast been sold itself to Canadian Unicorn fresh books. Now we have an exclusive interview with pass built founder, of course, again on our block here let's go to my native city, mines, which is actually not too far away from Frankfurt. They're the biggest news, of course, is bioton tech, which is headquartered there. First News on bio and tech is the company behind phises corona vaccine is building a factory in Africa to produce their vaccine there. And the second news is by on Tech, is not only successful as a start up, but the tax sort of news filled the coffers of minds where they headquartered. Now mindes want to use the money to pay back debt and help to get more by a tech startups to the city. Actually, small idea, Chris. What you think? Yeah, it's such a such a crazy story that the whole city, and it's not a very small city. It is like, I don't know, tens of thousands of people, hundreds of it's no it's even bigger. How many inhabitants? Doesn't mind, I would I would say quite a million, something like this. Yeah, so, yeah, so it's not like a little village that at benefits from having one city, if one company there. But still bio and tech makes for more than double of the of the Texas. Then all other companies combined there. It's crazy. We made according to Wikipedia, they...

...have a population of two hundred and seventeen thousand. Oh yeah, so good for them. And they went from thirty six million of a loss the city eurote to one billion and ninety million of a net profit in this year. Would you ever have thought that we discussed finances of a small city here in our startup news? Not of minds, I would have guessed hype on things change. Yeah. So, moving on to batten wooden, back right next to Ryan Lund Palatinet, there is twoping him close to stootgard, where we have another company that once was a hopeful company, or a pharmaceutical company, hoping to deliver a covid vaccine to the Work Qure Vac, but they had to trash its first approach for corona vaccine. Now they are back with a second attempt and promising data on it. I mean by now, where we look at more than seven billion shots already in arms. We will see how much they can still make a dent in the mark it. But at least this is something. From tubing in. Then Heidelberg, not that far away from it, to the north of tubing in, we see the intro text startup gets safe, which obtains property insurance, a property insurance license, turning itself from an intro tech to an insurance company. In Hamburg, way up north, and Aga. Naga launches stock trading a globally and announce it its announces its own and FTEA market place. We also spoke with them already, which is really crazy, back in two thousand and fifteen already Munique we already spoke about Sono motors and their hopes for becoming a big car money car company. But in Munich we also see that the spotify cofounder, Daniel Eck, puts a hundred million euros into the Munich based defense start up hellsing dot ai in their series a funding. So the valuation there is more than four hundred million euros. To support democracies, UVC partners raises their third VC fund among the investors are the founders of the Unicorn Flix bus and selness fixpos received investments from UVC early on. Now dotsch startups reports that they raise two hundred and fifty five million euros. The original target was just a hundred and fifty million, so quite a success there. Cope Rainer applies ai to HR and raises eleven million euros as a series a funding to expand across Europe, deep North Redwood Ce se a, and Munich, German based AI company transforming video assets...

...into custom tailor analytics, raise sixteen point seven million dollars in a series a one funding. Clean e Serf, a software as a service tool for nursing homes from Munich, raises a seven digit seed round, as they said. and Munich based park armor closes a two point one million euro funding to continue the expansion of its climate compensated parking APP. We have news from stood God, my old hometown, where any desk wants to replace team viewer. Now they raised seventy seventy million US dollars and venture capital from investors, General Atlantic inside partners, e. key to ventures and possible ventures. And we take a little look at Austria, where ID well, the DNA based prop tech raises several million euros venture capital from investors in Gusty, Chazam or, delivery hero and Vienna's text otup ecosystem gathers momentum. So we have a little overview there. Back to you will some more general news and debts. It for the hubs section. Yes, talked about it an overview. Let's get to the general news companies news section. We taket extensively about the SUPLUS story. So plus it's a German online retailer for pet food and pet supplies. The story in chart. One Private Equity Company wanted to take them private and made an offer. Then two others where interested in joining the fight, went dropped out and eventually hellman and Freatman, Hellman and Freatman, yes and equt decide to work together. On November three they announced that they have reached the fifty percent voting rights at approximately three point four building yours, or four billion years dollar valuation. Here's a little bit of the story. On August thirteen, helmet and freatment made the first offer, valuing the company at two point eight building, three hundred ninety years a share then they increase the offer two four hundred sixty years a share. Then equt chop them with four hundred ten years a share. Then Helmon and Freatment, on October seven, said, okay, we are also are offering four hundred seventy years a share there and then they join forces on October twenty five, offering four hundred eighty years a share. And now, on November Third D they purchase more than fifty percent of the voting right chairs. Who there was long story. Not that long. Is Our fin text off German block. Looked at through the published PNL and...

...balance sheet of bullan based FINTECH UNICICORN trait republic. As of September thirty s twenty twenty, the revenue grew by three thousand six hundred percent. That cosmer acquisition costs are around footy years and their revenue per customer is one hundred years. That means they make sixty years out of each new client in already the first year. That may explain the very high valuation. Moonfare, a Berlin based finntach that allowed its clients to invest in Private Equity Funds, raises one hundred and twenty five million in series c led by in inside partners to accelerate global growth. Add An assumed valuation of five hundred million years. They can be seen as a competitor of New York City based sought up I capital network or are TVEST. But our capital has already raised three times the funding of moonfare. We will see how far moonfair gets, since the money is for the international expansion. They'll be a battle ground opening up in the USI sume there is a new move in the hot competition of the new brokers between trade republic, bit panda and scalable. And keep in mind and twenty six announced they'll also offer trading of currencies and equities. In January next year. The Munich based new broker scalable capital, BIS JUST ETF and ETF focused website most likely to improve their offer. There German's finance oversight body, baffin surprise, is surprised by the INTRO tech hype. The seven intro takes in Germany only make up zero, point zero two percent of all property premins in the German market. And Final News. Solaris Bank, the banking back end of many Fintex and startups, is reorganized due to their first international acquisition who, Chris, that wasn't enough boring, Fintach, what else you got? Yeah, so we got a couple of more news items to wrap up the show with. First up on the SBAC section, where we found a news bit that gives us a hint that they are probably not that yet. Former German Matkinsey CEO, Cornelius Bauer, keeps pushing his back plans. It will be listed in Amsterdam, looking for targets and healthcare. And now hundreds blood reports the ex CEOS from Merk and queer agent. I'm again but sering this in also part of this back team. We found a couple of new noteworthy VC funds.

For example, the World Fund just launched Europe's biggest climate tech venture capital fund with three hundred and fifty million euros, and Baltaton capital announces a five hundred and twenty nine euro million euro early stage fund to back Europe's next wave of breakout at tech. And then we have some small other news that I'm just going to rush through now. Media Marcs a tour and see sonomy made a one thirds of profits online. Goldman sex on seventeen point four percent of the German online furniture store home twenty four. This makes New York based Investment Bank, The New York based Investment Bank, their largest shareholder, Germany's sanity group, at three point five million dollars to a series a. You can learn more about the founder of the Sanity Group in an interview read it also part please find the link in the show notes. The Carbon Accounting Startup plan a raises ten million dollars. Six months after the seating round. Dn capital opens a Berlin office and one in ten of all new startups in Germany a fintech companies. Just I'm in logistics startups. I I've just raised thirty four million dollars from Tiger Goobo. The firm's unique approach to due diligence won the deal and other VC's are taking note. Why? Forty two raises twenty seven million euros series a, with lead investors at Tommy coin inside partners and the German online car Deala auto one, which we spoke of from often about in our show, already raises two thousand and twenty one targets on strong demands of congratulations. To get that and to stay ahead of the core, we just have a couple of new only two news items about sequoia capital and Soft Bank, the Soft Bank Vision Fund. And I think for now this is it. We will meet again one time this year, but so far I am saying goodbye from Sunny, crisp and beautiful New York. Goodbye and happy Thanksgiving, guys. Bye, bye, bye. That's all the folks find more news streets, events at interviews at wwwe. That's start off. Bread, that Ale. Remember. SHARE IS CARE.

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