This Month in GSA Startups - April 2022

ABOUT THIS EPISODE

Welcome to This Month in GSA Startups in April 2022 by Startuprad.io — in a news recording with Christian Fahrenbach ”Chris” from New York City today and me Jörn Menninger “Joe”, from Frankfurt am Main. This recording is sponsored by Invest-in-Hessen and Startupraven.com. It is in radio syndication with our very own station www.startup.radio, the blog Fundscene, and our partner IBGR.Network.

We recorded this new episode on Monday, April 25th, 2022. The next news will go live on the 26th of May, the day we celebrate fathers day in Germany. For this reason, we have at this date two publications: the news and an episode on men’s health.

As always: All news not yet included here will be published in our next news episode.

We also partner with the EU-Startups Summit and Artic 15 you get a discount at both events with our codes in the show notes www.medium.com/startuprad-io. You can meet Joe in person in Barcelona at the EU Startups Summit on May 12th and 13th.

The discount codes are:

  • EU Startups STARTUPRADIO20
  • Artic15 startupradio 

Our highlights:

Despite slightly declining global VC investments GSA still generates Unicorns. This time we welcomed Grover and Choco officially into the league. Swiss Beqom is not confirmed, but also a massive investment. Apple and Porsche are rumored to work together on joint projects. Gorillas is looking for funding again, after raising a billion US$ (850 m Euros) in September 2021. Germany’s second most valuable fintech Mambu had to publish numbers. The corona patron registration app Luca first boomed during the lockdown, then their data protection was questioned, now they pivot to a fintech with the backing of investors including the Wefox founder.

Let’s talk startups:

Find all the links and show notes on our blog www.medium.com/startuprad-io

Welcome to start up bread and that I own. You were podcast and Youtube blog covering the German startup scene with News, interviews and a live emits. Hello and welcome everybody. This is Joe From Start Operator I oh you start up podcasting. You to block from Germany Austrians with sland again with the startup news. This month in GESA STARTUP for April. Two Thousand and twenty two. And I have Christmas me here from New York. Hey, how are you doing? In the early morning there, as always. I'm doing fine. I feel as if I have a bit of a spring cold coming up, but I test myself every day. Apart from that, things are really looking great and we are in one of these one out of two weeks of the year where you feel invincible in New York because it's such great weather and time to get your bike outside. And I got a new bike, not from a startup, but I bought a new bike from Brompton, British. Two things. First question, when is the other week? You feel invincible, and secondly, drive carefully, man. Yes, so there's one week and in fall, which is usually nice, but then this is it. Apart from that it's either too card or to humid. Apart from that, living in New York as hell. But two weeks. You got two weeks. That's the thing. Great guys, welcome to this month in Jus a startups April two thousand and twenty two by start a Raado Dio. As we said, Chris from New York and me from Frankfurt. This recording is sponsored by invest in Hassan and start up ravingcom. It is in radio syndication with our very own station, start up dot radio and the block fun scene, and our partner partner, Internet radio station, ibjr network. We recorded this news episode on Monday April Twenty Five. The next news will go live on the twenty six of May, the day we celebrate father stay here in Germany. For this reason we have at this date to publications the news and an episode on Men's health. As always, all news not included here will be published in our next news episode. We also partner with the eve start up summit and Arctic fifteen. You get a discount at both events with our coats in the show notes. By the way, you start up summit is taking place in Barcelona. I will be there in person may twelve and made thirteen and Arctic is taking place in health and keep beginning of June. Let's dig a little bit into our highlights. Despite slightly declining global VC investments, Gusa still generates UNICORNS. This time we welcome grover and show go officially in the League. Swiss Bacom is not confirmed, but also a massive investment. Apple and Porsha are Roomor to work together on a joint project. Gorillas is looking for funding again after raising a building you as dollar in September. Two, twenty one, Germany's second most valuable fintack Maumbu, had to publish its numbers and the corona patron registration. APP Luca first baumed during the lockdown. Then their data protection was questioned, and now they pivot to a fintach with the backing of investors including the we fox founder. So let's talk startups. Our enablers invest in Hassan. This show was made possible by Hessant trade and invest, with the brand invest in Hassan. You can learn more about them at DUB DUB DUB INVESTS IN MINUS hessancom. We also run a dedicated sub podcast with all interviews and news incorporation with them. You can find them at text...

...startups, doubt, sounder, DOT FM and, of course, start up Ravencom, the best way to identify investors and corporation partners for early stage startups. SIGN UP FOR EARLY ACCESS AT START UP RAVINGCOM. And I do believe, Chris, you have background now from New York and some top news right. Yeah, let's dig deeper a bit into a couple of the stories that you already mentioned. So because what we see right now is that the despite overall cloudy outlook on capital market, Unicorn creation is still going strong and it seems as if like the machinery pumping out the unique coins is not starting yet. So you mentioned them already. We have, for example, the burden based startup grover, which, according to Deutsche startups, became a unique corn dodger. Startups had this exclusively. Grover is now a seven year old company, funded in founded in two thousand and fifteen, that enables customers to rent gadgets like smartphones and tablets. So I'm congratulations to that. We also see that Chocole raised a hundred and eleven million U S dollars in a series B funding, which now puts them at a valuation of one point two billion. And shockle is a food technology company, basically bringing together rest our tours and there are suppliers on a digital platform in order to optimize the purchasing of the restaurants. So also congratulations there. What we don't know so far is if the Swiss cloud based condensation management platform of becom now actually is a unicorn or not. They got a two hundred seventy seven million euro backing from Sumero equity partners, which kind of puts them into Unicorn territory. But we have this little disclaimer here. Are Masters here to say we don't it's not fully confirmed yet. And what become does is they offer a compensation management solution where you can have like compensation rewards, bonuses, incentive sales commissions and it's all on one platform in the cloud. We also other in terms of other top news. Apart from the funding. We got new news in the everlasting story of maybe an Apple Apple car. So apparently Porsche AG discussed possible joint projects with apple, but maybe that's just the rumor mill churning out stories there. We also have new news from gorillas, which is a startup that is really, really working hard to be mentioned in every and every show of ours every month. So Gorillas, as you may know, is one of those speedy delivery startups. They not only became a unicorn very fast, but it also appears to be pretty much of a cash burning machine, because we saw that they raised a hundred and eight, hundred and fifty million euros, which was one billion US dollars at the time, in September, but is now already looking again for new investors. So I mean we know that they have a pretty aggressive international expending expansion strategy going on, but yeah, I would be really curious to see what they're and gaines in terms of is the business actually working at all at its core and are they now just trying to get volume and then one and then are going to increase profit later on, or what is going on there? I myself, as we spoke about it a bit, try those ped delivery startups. It's a good thing, I mean it's super fast, but a also I kind of feel bad a bit for the people who do the delivery and d the just let the amount of fees and tips...

...that you pay on top is really a lot. It's like an additional twenty to twenty five percent. So I'm really curious to see how many countries and customers are willing to accept that kind of business model. Chris, you know what, that kind of reminds me of the right tailing boom we went through a few years ago, you know, with all this stuff, all the companies trying to make a big buck on the right tailing with the very thin margin, and Uber is now listy but still not profitable. Right. Yeah, exactly, exactly, and yeah, and I think we spoke about it before. I mean, obviously Germany is not the only market for retail or groceries, but especially German customers are so price sensitive when it comes to groceries that I really wonder how much they are willing to pay additionally for an at home deliver even though it takes place in fifteen minutes. But I think, yeah, a couple of factors come and play where, even like the effluent audience who might be customers, they even might have the social conscience of saying, well, I'm not really sure if I want to, if I want to be the person who subsidizes or is pretty pretty stressful jobs, for example. But moving on Mumbo. Now, Germany's second most valuable fintag. The published twenty twenty results where we see they had a thirty two million revenue with the forty six percent margin. I'm like a start up, I'm just making numbers. Thirty two million euro revenue with forty six percent margin. But please note here that those thirty two million revenue only puts them and put them in sex sixth place for German Finntax. But growth prospects seem to be great. We have a bit more about them in our show notes. And you also already mentioned that the Luca App, which was the APP that for a while you had to use in every German restaurant if you wanted to eat, so that they could do the contact tracing regards to the pandemic. But they now pivoted and got actually some wellknown investors who believe them. The we fox founder joins, joined a thirty million euro funding round for the looka up and they pivot from the patron registration APP that I was talking about just now to a finntag business model. Today we don't have that's it for the top news today. We don't have that much regarding housekeeping in time to break which just we just keep up with our general awesomeness and we will secretly track all our chart successes in entrepreneur podcast charts and then get back to you about this in the next episode. But for now we're moving on to the ecosystem and to you right. Thank you very much, Chris. The ecosystem. Ask Chris said the global venture fan funding fell last quarter for the first time in the year. How significant is that? Asked crunch base to ban or not to ban the you institutions and Germany seem to be unsure. First Publication. European Parliament rejects ban on Bitcoin and other cryptocurrencies. Second piece of news. Germany becomes the most scrypto friendly country, ahead of Singapore and the US. And third piece of news. The German block nets politique dot org, meaning net politics, known as a reliable and well informed source, reports, after review internal EU documents, that they are still working on a bitcoin band behind closed doors. Germany and the you I have to mention here, and Chris. Would you put a nets politic at this on the same level as polite to go...

...in the US? I think that would be an insult to the next politic people. Actually, I think I think political is much more of like a as much more gossip about politicians who did what, and that's politic. Is a very substantiated, in depth publication working on actual digital policies and I think, as you said, it's like super reliable. It's a very good source. Leaving Germany. The main reason for German startups leaving Germany. Well, according to Surway, we found its funding options and exit options, and we do have Germany's largest V see rounds, which kind of shows a trend Chris and I have been highlighting in the news for some time. It used to be the case that was Berlin, Berlin, Berlin, Berlin, Berlin and music, and now we have two thousand and twenty two so far, meaning likely until end of March, beginning of April. I'm number one was fort from Berlin, two hundred fifty million years high to Gen from the spot and Hessan, two hundred million US dollars, which is the word. Largest private investment in green hydrogen. Vodacotta from cars, while we cover them frequently, one hundred seventeen million you as dollars, staff based from cheminets, one hundred and fifty million years dollars and vivid money from Berlin, which make bowling holding forty percent of those funding rounds. It used to be complete dominance, which is good for Berlin because there be a lot of other great funding rounds, as well as for other places because they also get some nice funding. Then we come to a topic that some piece also tend to die. Were talking about the German facebook clone here, called mind felt set, or should he felt set. I should he felt said, was one on one clone of facebook. I do believe. At the time I was in college, back in two thousand and six basically the only difference was facebook. Everything was in wooden, in variations of plue. Should he felt set everything was in variations of red facebook, only English. Should he felt said only German. That was the only difference. Everything else was one on one, completely cloned. It worked out for some time pretty well for street felt set. Then facebook open up to the non student community. The Germans did this as well as mind felt set, and then eventually facebook entered Germany and that completely stopped them dead end. It was really such a textbook example for networking effects because in the beginning you wanted to be on study felt set because so many of your friends were there, and nearly no one was on facebook, and then during college when everyone started to do international semesters or went to it us most, then you realize, oh, the international people are all on facebook. So kind of the migration started, and this is what, in the end also became problematic for studio. Felt said, mind foot set became something of a virtue ghost town for years. The only messages I personally have gotten was when a paid on unpaid moderator posted a happy birthday message on my board, but even that stopped. At this point I personally considered mind fought set to be a Zombie. But it has been several times since that it was rumored, it was said the company was insolvent, it would be completely stopped, but now during this two thousand and twenty two it was completely stopped and unplucked. So it's over. Interesting story, no, unless I do believe this was one of the very big exits early on selling study fold set. Yeah, and also to a German publisher. I think. How it's bring lost quite some money on them, I guess. But also, I think bottom nine...

...here is if people's are on rit you and email a birthday email, you consider them zombies. Like plus, cannot just survive with copycatting. That is not working. You have to innovate. and talking about innovation, Corona changed a lot and some habits will stick. The Germans are cadding to recent survey, Europe's number one online shopper, with an average of six point seven packages a month. Admittedly, I get something like one or two. But Chris, how about you? You're still count as German even though living in new yeah, Oh, I actually toned it down a lot. I canceled Amazon prime and because I thought I need to support my local companies a bit more, and I am less on Instagram, which basically reduces my packages, also by half, and because the targeting there is so good and I'm such a victim. So I would say in the past two or three months I'm I probably ordered maybe four packages. It's okay, I'm getting better. What I personally do is kind of the long tail, meaning you get the stuff in your local store, you get this and that and there. But, for example, when I want to cook something that reminds me of China, for example that Punchy, I have to get plaque card. Them on like big pieces. You barely get them anywhere except for maybe selected Asian stores, and that is something I'll order there. But moving on to the next topic, not in Germany but still concerning. There was a story on sifted dot EU of a VC threatening a media war against a startup after they faked documents for potential investment deals. That was pretty concerning because the apparently D vc was pretty desperate to get in there. But I've never heard of anything like that. Faking investment deal documents. That's on noble level. Moving on to the hubs section, there are many deserving startup cities and entrepreneurs who will never get any English courage. Would it not be for us? This is why this section exists and this time we do have Frankfort and damp stat just for me, and then we channeled Chris Inner, Geography Teacher, and he can give you two directions there. But first to news about Frankfort. Frankfort based Fintech, leverized races, seven digit funding round from state back B M H and business angels and online dating. Meat five races, one point one million years in funding. Please note the link opens directly a PF on their website. Damn struck based biovox races, six digit preseat funding for the development of bioplastics. Chris, you got some more right? Yeah, sure. Moving on to Hamburg in the north, they're the FINTAG express group. Raised twenty five million euros in a series a funding to expand their check software into other European countries. And we saw that nest lay bought the food start up uncle cows, which is a special producer of spices and spices mixes and Germany. That became famous in Germany as a part out of who did you? Luven so, the German version of Shark tank, and it seems a bit to be in spot. It seems to be inspired a bit by cough food, purchasing just spices from disoldor off a similar start up, and uncle got cold could now be valued at a in the range of like two hundred fifty, two, four hundred million euros. When uncle cold made it public, it became one of these crazy stories where you can actually see what problems you can also cause if your customers really identify with what it is that you're doing. Because I'm...

...her cults tweet gotten more than one fifteen hundred Commons. Very few of them were happy, and it seems that Nestli, for the first time we'll not really enjoy the deal. And I'm yeah, it's an interesting it was an interesting development going on there and I was a bit baffled by how much people apparently care about where their spices come from. Moving on to midwider small town in Saxony, their key nector raise two point five million euros seat investment to enable virtual presentations made from your office in Ludwig's Hafen in Baden wooden back, I think the VC arm of the colds kind of fire my life, you know. Okay, that's a story for a other for everybody not familar with this. On the one side of the river there is button written back, on the other side there is kind of files and he is on the rhne up five side. So you're officially lost. That your honorable geography teacher here. But you know, yeah, if I had to say, if I had any power in Germany, one thing I would do is I would reform the German states and I would get rid of at least like seven of them, and Ryan and Pelatin at would be first on my list to be to be canceled, honestly, but no one asks me so. In lutex half and the VC arm of the German Chemical Guy and giant BRSF, called be as adventure capital invest and undisclosed. Some in the Los Angeles based Ocean works. Ocean works as a market place for recycled plastic materials and products in cards, whore of which I'm sure that it is in buttont Wurtenberg we see that Corno Fearon spansish corner. Twenty four is a marketplace for luxury wrist watches that raised a hundred and a hundred million euros in August. Two Thousand and twenty one. There now reported to prep for an IPO in the next year, two thousand and twenty three, so good luck with that. In Munich we interviewed the CRYPTO custody Fintech Tangany. You interviewed them. Is that how you pronounce it? TENSIONALLY TA? Yes, exactly. I always keep in I always have in mind. When I was talking to the cofounded there and I thought, and I told her, talked about them because they're in crypto custody, so they have to take care of the cryptos of the clients. And I asked them where is where is your where is your level of paranoia? And he said it's on the absolute highest levels. Who Remember that vividly? Yeah, and we each of you them in February two thousand and twenty one, so quite about back already. But now they have raised seven million euros in venture capital linked to the interview is also in the show notes. We saw still the Munich that the Munich based impact vc bond venture they makes made a final closing on for on the fourth fund at fifty million euros. They had an original target of thirty to forty millions. So they kind of exceeded their goals. And as always, I think also nearly at every episode, we go back to the yeah, helicopter start up realm, and there we see that the Munich Air taxi company, lillium, pushed back it's starting date by one year to now two thousand and twenty five, according to reports in a German press. We are leaving Germany and move on to Switzerland, or the German speaking parts of Switzerland, because we see there that the Swiss green text start up, Daphne technology, raised an additional four million Swiss friends in funding, and we saw news about the green start up climb works. The company just raised five hundred and ninety million euros, so six hundred and fifty...

...mill you styllars for their carbon capture method from the air. They got big investors like the picture group and Singapore was Gicee Fund. So a lot of hopes are being put on that one. And also another German language company, a company country, Austria, where we see that the Vienna based at text start up Unicorn Ghost student now offer sially entered the US as their twenty three market. And we have got news from Dal's automobiles from Austria. They just presented their all electric hyper cards with the public at the New York auto show. And that's it with the hubs for now. Now some more General News, Tech News or company News, starting with you and the FINTEX. I feel obliged since, according to our audience survey, more than eighty five percent don't speak German. In Austria they all speak German, but in Switzerland you they speak several languages. There's German speaker part, of French speaking part and in Italian speaking point, and usually if you don't speak at least two of the languages, you are screwed. In Austria they speak German, but it sounds like music yeah, especially in Vienna. Awesome. Finn Takes General News. Tech companies, companies, new section Finn Tax again. Trouble at end twenty six, since they terminated account without notice and any further explanation. Of course, cost my advocates offer some criticism there. Feather, a Berlin based intro tech startup, floats on three point eight million. Pillow in bed made by Unicorn founders is the headline. Read more in the show notes and the burn it based fintake, Finn Marie launches a new investment at for women. One of the founders I actually interviewed way back in time, two thousand and eighteen, when she was still working for another startup back in London. And a very, very few venture capital investment rounds. Just selection for us. The founders of Berlin based finntake lemon markets to are just twenty one, but they raised fifteen million years in seed investment. Warehousing one, the Berlin based startup which housed in eleven million to expand fulfillment network in Europe. EQT and existing investors invest in unofficial wundalist successor superlist reports exclusively gouts, just startups and the World Cup winning football player Thomas Muller invests in Clean Meat Start up green force, which offers the product as a powder to mix it yourself with water or oil. Chris, you got some more news? Yeah, just a little bit. So road for as, a German startup renting out RV, said that they would go to the US and I'm going to check that out, and the hunter's blood article about it was quite interesting, saying that they already have seven hundred and fifty employees. And then we just have some of our stay ahead of the curve news. We have a tool to analyze nft's we have musing about how to air is human but to regret is divine, and we saw how the APP store model comes to web three with an article about the benefits of venture capital in Web three, and all of this you can find in our show notes. But this is it in terms of wrapping things up. That's all I got. Chris. It was awesome again to talk with you about the startup news. Sorry for just turbing you so early. We had like little misscommunication here by Chris. I have to note today you're only a Bagel when I'm next time in New York, because there was no sirens to the back for other O. my God, maybe for the first time we made it without a siren. That's true. Looking, yes, I now, but there's I'm wondering if one of our audience actually tracks...

...how many bagels he all me, but I do believe I count eat more than two, considering the size of the New York banks. No, Chris, exactly. Was a pleasure as always with you. We will be back with the main news. Thank you. Have a nice spring everyone. By bye, or like I mean people. People listen from everywhere. The seasons are all over. The first. I'm sorry, bye, bye, bye. That's all ful. Find more news streams events at interviews at www. Startup d DOC Hio. Remember Sherry is carry.

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