This Month in German, Swiss, and Austrian (GSA) Startups - May 2022


Welcome to This Month in German, Swiss, and Austrian (GSA) Startups in May 2022 by — in a news recording with Christian Fahrenbach from New York City and Jörn Menninger, from Frankfurt. This recording is sponsored by Invest-in-Hessen and It is in radio syndication with our very own station, and our partner IBGR.Network.

We recorded this news episode on Thursday, May 19th, 2022. The next news will go live on June 30th. Keep in mind, that we will have a summer break afterward and be back for you with another news episode on Labor Day September 5th, 2022. In this episode, we will wrap up July, and August.

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

We will also slightly change our publication schedule in the summer — as we have done before. For July and August, we will only post a new episode every other week (July 14th, 28th, and August 11th, as well as August 25th). We will be back to normal at the start of September.

We also partner with Artic 15 you get a discount with our code in the show notes at 

  • Artic15 startupradio 

Our Highlights:

We can proudly announce unicorn No 29 Taxfix, No 30 Onefootball and on the downside, RaisinDS loses its unicorn valuation. Really bad news for car sharing: BMW and Mercedes pull the plug on their joint venture. Our 2018 guest ProGlove is sold in a 500 m € deal (525 m US$) and Orderbird is sold in a 100 m € deal (105 m US$). Other unicorns are currently on the hunt for new capital and feel the heat of the current funding environment.

Let’s talk startups: 

Our Enablers


This show was made possible by Hessen Trade and Invest with their brand Invest-in-Hessen. You can learn more about them here ( We also run a dedicated sub-podcast with all interviews and news in cooperation with them. Find it all here:

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Find all news and show notes here:

Welcome to start up bread that I own, your podcast and Youtube blog covering the German startup scene with News, interviews and live events. Hello and welcome everybody to this month in DSA startups, German, Swiss and Austrian startups. From may twenty twenty two. Chris has already here on the line. We are talking news. May Twenty twenty two. Chris is again in New York and I'm here in Frankfurt. This recording is sponsored by invest in Hassan and start up ravencom. It is in radio syndication with our very on station, start up dot radio, and our partner ibjr dot network. We called this news episode on Thursday, May Nineteen Two thousand and twenty two. The next show will go live on June. S keep in mind we will have a summer break and be back for you with another news episode on Labor Day. For the Non Americans, this is September five two thousand and twenty two. In this episode we will wrap up July and August, since our September news candid to be quite long, covering three months. As always, all news not yet included here will be published in our next news episode in June. Sorry, they will be a little bit longer by Chris and I have to travel. We will also slightly change our publication schedule in summer, as we have done before. For July and August, will only post a new episode every other week. July fourteen, twenty eight, August eleven and twenty five. We will be back to normal with the start of September and our labored in news and we are partnering with Arctic Fifteen. You can get a discount with our code in the show notes at mediumcom forwards, less thought UPRATE MINUS IO Christian. I totally forget to say hello because it's our second attempt of recording. Chris, my men, how you doing? Answer? Sorry, I'm doing greater, and you also already missed the New York Siren. that. Yeah, apart from that, I'm doing great. Spring is treating as well here in New York. COVID is picking back up and no one's caring about it anymore, and apart from that, everything is good. FELS like the same. Here in Germany, we can proudly out, sorry, our highlights. We can probably announce Unicorn number twenty nine, tax fix number thirty one, football and on the downside raising the ASS loses its Unicorn Valuation. Really bad news for carshing BMW and mercy is pulled the plug on their joint venture for car sharing. Our two thousand and eighteen guest pro glove is sold in a five hundred million years deal, which is five hundred twenty five million years dollars, and Audi bird is sold in a one hundred million euro, one hundred five million years dollar transactor. Other UNICORNS are currently on the hunt for new capital and feel the heat of the current funding environment. So let's talk startups. Our enablers invest in Hassant. This show was made possible by Hessant trade and invest, with the brand invest in Hessan. You can learn more about them here. The duped up invests in minus hessancom. We also run a dedicated sub podcast with all interviews and news incorporation with them. Find more at text startups that sounder, DOT FM and, of course, start up Ravencom, the best white way to identify investors and corporation partners for early stage startups. Sign up for early access here start up ravencom and, little hint, don't beat you late. there. Already four and a half thousand startups signed up, Christian, you got some top news for us? Yes,..., when it comes to the top news, in April we were just announcing or talking about, two new UNICORNS in Germany and, depending on how you calculate, there are now already new ones. One is the tax APP, tax fix. They became a Unicorn with a two hundred and twenty million US start are founding round. They would be number twenty nine in the German market in terms of UNICORNS, being defined as companies with a evaluation of more than a billion US dollars. Last the announcement. Yeah, in general in Texas maybe boring, but they are important. So text fix becomes yet another Unicorn, but the first one in Germany dealing with tax filings. So that's just another article we have in our show notes. If you want to know more about tax fix, I mean in general, since here in the US it's such a big market, the companies that try to help you with your taxes, etc. The German system is a bit different, but yet it's complicated and people definitely are in need of help. I think it would be fair to say the tax system in Germany is complicated and in the US is complicated, just in another way. Yeah, definitely, and in Germany the government calculates your taxes, whereas here in the US you kind of have to declare your taxes. It's a bit different. Anyway, we also have number thirty on the Unicorn list. It's called one football. It's Berlin based. They have a fundraising are. They found a founding round of three hundred million US dollars and they are having a football APP and, yeah, are hoping to make money. They got a lot of money from liberty city ventures. That's a fund from New York here and they all want that. Their goal is to have a one stop shop APP for soccer friends where they can get life events, where they can get reports about the games, about transfers and all like, the current standings, etc. So we will see how that goes. Definitely, obviously I a big market in Germany. And then, since I just said we have the thirty of startup, we have to deduct one because we're back at twenty nine due to raising d S. Germany has lost the Unicorn, not due to insolvency or take over but to a down round founding round where the valuation of the overall start up went down, and that is in this case the Berlin based Fintech Raisin, and they d valued their company because of slowing growth. But we think this maybe just heard their feelings for now. But we also hope that, or wish them that they can bounce back any time. And then, I mean technically it's not really start up news, but definitely start up adjacent. Since the German automotive industry is so big, the big players there are looking for new ways of revenue or for outs, of ways for to fight Tesla, which looms large, and so it was quite a surprise when BMW and Diamler announced that they would join forces for a car sharing company in two thousand and eighteen. They did so and started a joint car sharing company. But now share now is being sold, or was being sold, to Stellantis, and now the question...

Germany is, can anybody may car sharing profitable if the two biggest players in the market cannot really? But also, in general, it's really interesting what happens at diamond right now, because they kind of split up the company and so the trucks division is now independently traded on the stock market. Just today there was an announcement that the car division would maybe stop manufacturing two or three of their entry level models. People believe it might be the a class or be class that actually will won't be produced anymore. So it's really there's a lot going on at Mercedes and BMW as well and in general. The question obviously, is where does the whole mobility sector go, and so we will see how that goes. Moving on, program glove sold for five hundred million euros and it's looking to be the next team viewer. We had them as a guest on our show in our network on too, in two thousand and eighteen and but they made a monster exit at around five hundred million euros and still plan, as I said that, to be the next team viewer. It's a company from Munich. They were acquired by Nordic capital. Order Bird is part of a hundred million euros deal. It's a hospitality hospitality start up. They were completely sold to new Italian owners. Made a hundred and million euros with that. And according to a recent press report, the current fundraising of Trade Republic and twenty six and gorillas is not going as planned. There's a fear of flat rounds without a higher valuation. So it's a bit of like dark clothes clouds over the German start up market in general right now, and the question is whether the market develops in a more sunny way in the future anytime soon. Right now it looks as if some of the biggest names in Germany have problem to find new money. Those are the top stories. Back to you and housekeeping. Housekeeping exactly, and time to Brag. You may have noticed our partnership with deep ecosystems. They are analytics company tracking to start up activity in more than one hundred twenty cities across Europe. Little disclaimer here. They are also using, for Frankfort and the Rhein Mind area that they to I collect as a Ryan Mind v see or start up radio collects. Normally you need to be a member to get your hands on the data. Now you can get quarterly updates exclusively with us. We call it the pause of the European start up ecosystem and it will also be available as a new sub podcast. The release of the next update and the sub podcast will be in calendar week twenty seven, which starts in on June sixth here in Germany, which is also public holiday. You would call it a bank holiday abroad, and if you're ever doubting that we are German podcast, you can tell by US using words like in Calendar Week Twenty seven. I don't think any other nation actually. Actually it's something I have seen in the US as well, but mostly it is done by people in project management. So when you talk to former consultant, maybe from the US, maybe in Germany, they sometimes start to think in calendar weeks like I do with my big calendar on the wall. I still have a paper bag calendar here to my right and I'm that helps me with the planning because I always did it. I learned it that way for more than a decade. ECOSYSTEM, after Red Hot two thousand and twenty one, Global Venture Investment cous in q one twenty and twenty two, even as the Global Unicorn Club reaches a new height, is one of the articles. There's also of funding. To you, start ups...

...slows sharply after Brisk Start in two thousand and twenty two. On crunch base. This is a bit at arts with our data from deep ecosystem, but we will discuss it during their podcast recording. Also have a look at our deep ecosystem episode coming out on June seventh Berlin based and burly city. So in in Germany are three city states, Berlin, Hamburg and Breyman. So whether city is also a state, something like Washington DC, as something similar to state, but as opposed to DC, they have full rights. I know DC doesn't send any senators. They are in the German equivalent of the Senate. Going Back Berlin, based in Berlin city owned IBB ventures invested in two thousand and twenty fifteen million years in Berlin based startups, creating with that additional seventy five million years in private investments. Demand for electric cars, coming back to the mobility by Germans on vacation or business trips is pretty low. According to a car rental platform from Germany, they're electrically powered. Car Bookings make up only serrum zero point two two percent of their overall booking volume, which is quite low. I would have expected at least people to try out new electric cars when they can rent them. Going to our hubs section, here there are many deserving startup cities and entre nurse who will Navi get any English coverage. That's why this section exists. Chris is again channeling his inner geography teacher and has his own order, but will first start out with Frankfurt, my home turf. Germany's banking giant, combats bunk, has submitted applications for a crypto license and going on competition with a lot of other crypto startups, and it also appears that system sign that Crypto is going more and more mainstream here in Germany. Frankfort based AI start up Rido passes after Germany's version of park tank, on an investment of buildonaire and chalk tank Judge Custom Mushmayer. You can learn more on the founders and Rido the spotify for books in our interview. There and startups in lodger rhe inman area raised more than three hundred million years in two thousand and twenty one via rhyandmind VC. Background do this very low number is that there was a one big IPO of volocopter canceled, but with the funding round of this end high to Jen, we're way beyond that. There will be another publication coming up in September and this is all of data used by the deep ecosystem. Now back to our geography teacher. Christian we move to the north. So in Hamburg, Big City, we've often times already talked about driverless cars and also the opportunities that the new German law allows for remotely driven cars. In Hamburg we now have news from a startup called vy. They want to start with them still in two thousand and twenty two in Humburg Berggadorf. But it's really actually like a complicated issue, obviously, because technically they are driverless physically, but someone drives them remotely, and then also the question is they're not doing anything against like individual mobility. So basically it's still a car on the road nevertheless. But we discussed this in the interview and we are we talking to lawyer about the framework.

We discussed this into interview and it's not yet sure if the text of the law says that there's went driver who can drive like five cars at the same time and every time there is in alert he takes over and other times they are driving autonomous, or if there has to be a one on one relation. I mean in general it's such an interesting market space because Tesla and Elon Musk they were so keen on it and he kind of overpromise the whole thing and it's not nowhere as near as where they wanted it to be, I think, in two thousand and twenty two, and how optic, considering how optimistic they were. Then there's the Dutch rv rental startup, Kemp space. They bought a Hamburg based competitor, pop up camps, and we have news from Hamburg from a company called rabbit charge. Robot charge are a Bot, a startup that allows charging electrical cars at the best time with the lowest possible price. I guess it's one of the bigger issues when it comes to electrical cars, and the smarter the grip gets, the more they there will be opportunities like this in terms of why not charge in the middle of the night and so save some money, and robot charge raised more than one million euros in a preseat funding round. Moving on to Munich, there we see that the private Equity Fund Thomas H Lee partners, bmipmwi ventures and the telecom innovation pool invested a hundred and thirty million U S dollars in the Munich based start up kidnnecks on. Knects on is a company that is doing cloud software in combination with connected devices and in order to help companies in production, logistics and sports, so quite a range. Then there's the US based investor, code to code, coat to coatue prison. On purpose, I gave you all the complicated names, as the people come up with better names, like named your company like the normal company or something like this, so we can get through this. Entrepreneur lip poo ton and existing investors invest thirty million U S dolls in the Munich based to bias, which is t wa. I see company that offers software to analyze batteries. Two hundred founders and forty eight business angels join forces to raise a hundred and sixty million euros for a Venture Capital Fund, ten times headquartered in Munich, for early stage investments. So there's opportunity going on there. And two hundred and two million euros is the final closing for Scipio Partners Fund. Eight set Munich startup has more about that. Early Bird VC closest. Three hundred and fifty million Euro Fund for Western European startups. More about that. That even made the news and tech crunch. And the Munich based Rent Corps raised three point seven five million euros in a series a funding for their offering in the cloud collaboration governance market and the state of the very invested two million euros in Tom Venture laps rights, Munich start up and to miss the technical n diversity of Munich Dresden. In Reston we see that there's an exit for the DRACON based hyper scandal. It's a spinoff off found Hoofer Institute. So one of the biggest signs institutes in Germany to farmer company Fagron. There's a lot of like gay adjacent news today, like Fagron, Camp Space. It's a it's all of it weird going on anyway. Cologne based AI start up auto mate. It made ma it ED raised...

...four million euros venture capital for its automation of copy and paste jobs. I can use that in lands food. In the verier we have multen ventures, Mubadala capital and existing investors, early bird venture capital, Zenovo and new forge. Forty million euros in H MQ. That's the startup from Lanso, Germany, and they try to help to connect I internet of things devices to the cloud. And then we have news from Austria and Switzerland. And Austria we see that early bit punder investors, speed invest they defy tech jitters. With a new seed fund, German new broker scalable capital enters the Austrian market with a large portfolio of tradeable assets, including Cryptos, and therefore directly attacking bit punder on their home turf. So there's trouble and paradise going on there. Neo and e O H and Austrian household name for chocolate bars, also a scale up rises one million euros in revenue based financing from towers capital and story block. And Austria in Lin's based software scale up story block, Blok. So no CK. They raised forty three million euros for their headless content management system. In Switzerland we have news from the Met Tech Start Up Beyond Tur as AH BY ON TUR BE B, Bio and tar. They secured a three million euro, three million dollars seed financing and the leading domestic provider of co working spaces in Switzerland, West hithe. You See west type? That's a good name. I immediately get it. They raise six million Swiss francs and venture capital. Good luck to them just because of the name. And social freezing and family planning are now becoming more and more start up topics. Or via bowl. That's a social freezing start up. They pivoted and raise four million euros and venture capital and April bags. April apryl not not as the month, the April bags for their name is not April bags, their name is just April. I'm sorry. April bagged four point one million euros to bring pioneering fertility benefits platform to the workplace. Oh my God, I stundled through this this month. Let's talk about Syntax and see how you're gonna do. Don't worry, Christian, I totally do believe a lot of people don't think about how their company names come across in different languages. If they may be offensive, and some of the words you refer to your only understand if you understand American Flang they will never fortunately, they would never be in a proper dictionary, even though if you have a problem like this, look it up in the urban dictionary. I found it sometimes pretty helpful. As Christian said, I'm talking FYNTEX here. Former factoring start up FINIATA is bought by Polish Paul Nation shareholders, Manta rate ventures. FINATA started out as a factoring start up but increasingly turned itself into credit provider in Poland for SMS reports. Doutges thought up seclusively. A little hint here. Have a look at our interview with Billy Dot ioh they are also pivoting to be a buy now, pay later startup. For originally also started in factoring. It seems factoring is not the place to be for fyntax right now. Pe Firm moonfair picks Singapore over Hong Kong as Asia Hub. You Remember, Moon Fair is Berlin based start up started by the form or German head of KKR, which is...

...a very well known private equity fund in the US, also headquartered in New York. I do believe maybe the last news on soup plus. For sometimes soup plus and online pet supply store, has been taken private in a ferocious battle of private equity houses. We talked about it a lot in our knees. Now, after the buy out, the founder leaves the company. In another news, they have to publish at two thousand and twenty one numbers before they went private and they saw headline growth of sixteen percent to two P nine building years. Totally not the latest news. Of the last news of why a card a German court ruled two thousand and seventeen and two thousand and eighteen balance sheet annual accounts of via card are not and void. So the liquidator, the person in charge of this, why I cut mess, can demand the payback of the year's dividends. I do believe that would start quite a long and stretched out legal battle. A very, very, very few and very, very, very selected we see fundings, because with Chris I had to throw out almost fifty of them just to get to manageable size. Battlesman, which is already shareholder of the APP economy builder APP, like Croup, in which it invests additional one hundred million euros to develop digital business models, prop tech, crow, push, dropy US raises additional forty million years to keep developing smart and sustainable solutions for living. Deep set raises fourteen million you as dollars to help companies build an LP natural language processing APPs. By the way, deep set, that's a name, again noteworthy for other reasons than the total investment. German football player Mario Gomers invests in food, in a foot startup of former cook of Germanist National Football Team, organic garden producing in a circular economy approach, clean meat and vegetables. Chris, you got some other news right? Yes, I got some other news so also like hurrying through through it. Reportedly, Lil Ferrando, Co founder and Takeaway C o your Gabag, is on leave while an internal investigation of potential misconduct is investigated by a law firm. We saw a news that the fast delivery start up flink bias the French compet competitor, Kajou, and wins a new partner with cow fool so, one of the biggest French supermarket chains. Art Night offers a created yourself offers, created yourself events and now raise new funding. It seems investors are going for offline events again. Here the Amazon aggregator razor group is set to acquire a rival factory fourteen, and a multimillion dollar deal is European market shows signs of consolidation. Probably you know of Bustian Lehman, one of the founders of postmates, which exited to Uber. Now he is starting a new venture in Fintech. Then there's news about quite a known figure in a German circles, one of one like Syria, entrepreneur and influenzas. Name is Finn Cleman, and legal pressure on him rises or increases, because there are discussions whether he made false statements about where his corona mask that he source came from. And he's really one of the guys like who's a singer songwriter who runs like a little village, who then got into the mass business, and it is quite a big story in Germany. So yeah, Finn Cleman,...

...that is the reports about him. Britain and Brussels based ot up accountable has banked a total of ten million euros for its tax APP. Quick Commerce, no, is seems to be no longer an easy way to make a fast buck. Asks Forbes and covers, amongst others, delivery hero and gorillas. We've been talking about this quite a lot too, but you've got a deep dive and that in our show notes and INSTAF freight had to publish two thousand and twenty numbers. Their revenue group by sixty nine percent to thirty two point one million euros. The losses increase slightly from five point one two seven point two, so losses increasing slower than the revenue. And then, to stay ahead of the curve, How's that Unicorn Valuation working out for your employees? A surprising story in three acts on battery ventures. Then there's the question if there's a minsky moment for a venture capital? Could the UNICORNS of two thousand and twenty one be the zombies of two thousand and twenty two? That's a German article. Sequoia capital partner shares the types of startups he's eyeing as the VC firms expands into Europe and a flotill of startup wants to streamline global supply chains. Rights The economist. We will be back on June s with the next news. And that is it from me. How about you? That isn't from me as well. Thank you for listening. Have a great day, guys. That's all. Folks find more news streams events at interviews at www dot start of bread. That aile. Remember. Share is carry.

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