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Startuprad.io - The Authority on GSA Startups

Episode 310 · 8 months ago

This Month in German Startups - January 2022

ABOUT THIS EPISODE

This Month in German Startups - January 2022 

Happy New Year guys! Welcome to This Month in German Startups in January 2021 by Startuprad.io - in a news recording with Chris from New York City and me 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 and our partner IBGR.Network.

We recorded this new episode on Monday, January 24th, 2022. All news not yet included here will be published in our next news episode. There will also be a special episode on Atomico’s State of European Tech 2021 together with Bill, the founder of the IBGR Network, as an audio-only podcast.

This is a new year with 365 blank new pages, so let's write the best story possible.

Our highlights: The last year was amazing for the German startup scene, there are now officially 25 unicorns and we feel that there will be more. 60 mn for sunfire from the federal government, Go Student’s tutors and students start to critique the company, Tado is looking to IPO via a SPAC. Also Cherry Ventures had been good in snatching up stakes in unicorns early. Now Cherry raises their 4th fund.

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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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All show notes and news links are here: https://www.startuprad.io/blog/this-month-in-german-startups-germany-austria-switzerland-january-2022/ 

Welcome to start up bread that I own, your podcast and Youtube blog covering the German startup scene with News, interviews and live emits. Happy New Year. It is two thousand and twenty two and this is this month in German startups, wrapping up already January two thousand and twenty two. Of course, Christian is here with me again. Hey, Chris hid in in New York. Hey, I'm good. We are already on the other end of the omicron wave and I'm it's going to be a good spring. Maybe that's what we always thought, but yeah, mood is good. How about you? Yeah, let's hope it will all get better. By the way, happy New Year, guys. Welcome to this month in German startups, January two thousand and twenty one, by start operate dio, in a news recording. As you already know, Chris from New York and met Joe from Frankfurt, I mind Germany. This recording is sponsored by invest in Hessan and start up ravencom. It is in radio syndication as well, with our very own station, start up dot radio. You can listen to you seven including content from a lot of other awesome podcasters and our partner network, I. Egr Network. We recorded this new episode on Monday January Twenty Four, two thousand and twenty two on news not yet included here will be published, of course, in a next episode. There will be also a special together with bill. His name is really will beam Eastman, but everybody calls him bill, on the ATOMICO state of European Tech, two thousand and twenty one, and bill is the founder of the ibgr network, and that would be an audio only podcast. Keep in mind this is a new year, two hundred and sixty five blank new pages. So let's write the best story possible. And, of course, Chris, I hear the siren. You are already off the hook for a donut. When I'm next time in New York. By the way, I would like to change our agreement to bagels. Yes, yeah, that's do it. Let's talk a little bit about our highlights, Chris, what you got for us? So yeah, last year was actually pretty amazing for the German startup scene. They're now officially twenty five Unicorns and Germany with you. Obviously that there's going to be more to come. And apart from that, in today's episodes we have sixty million for sunfire, for coming from the federal government in Germany. We have got students, tutors and students who start to critique the company. At hard or is looking to IPO via STAC and also cherry ventures have been good and snatching up stakes in junicorns early, and now Cherry raises their own fourth fund. Yeah, so let's talk startups. First, a little bit about our enablers. Invest in Hassan. This show is made possible by Hess and trade and invest with the brand invest in Hassan. You can learn more about them at invest minus INNS Hassancom. Of course, the link down here in the show notes, and we also run a dedicated sub podcast with all the interviews and news incorporation with them. You can learn more on the anchor page of this podcast. And there is also start up Ravencom, the best way to identify investors and corporation partners for early stage startups. You can sign up for early access at start up Ravencom. And I may have to add a little piece of information here. We still have the anchor page on text toups Germany, but we now hosted at...

...a different hosting service, Zoe. If you have trouble with our feed. Anyway, just let us know. We will figure it out without a new hosting service, by the way, also hosted in New York. Chris. Yeah, so, yeah, which is a good place. But I'm ready to talk about the top news, and I was already hinting at it just now, that Germany right now is at around twenty five Unicorns, still counting. We have a link on our website at the German to the German website goodness center, where they basically have a little overview over all these UNICORNS. One, for example, is dre the Frankfort based Clark, which is an insure tech start up, and they also were part of our show already. We have two one one interviews with the founder and so you can learn a bit more about Clark on in our own content universe as well. And we have a two UNICORNS in Austria, bit Ponda and go student. Then I also already talked about sunfire. Sunfire is actually from Dresden in Germany, so the eastern part of the country. They raise a hundred and nine million euros and venture capital, which is the largest fundraising to date for sustainable hydrogen and also the national the federal government in Germany added sixty million euros in grants to industrialize the process. So an interesting company to look into. Probably sunfire go student, very different area of expertise. It's an online tutoring start up from Austria that raises three hundred or raise three hundred million euros and venture capital at a three billion euros, which is three point four billion US dollars valuation. Yange closer to be a coming Austria's most valuable start up, which right now is bit ponder valued at three point six billion euros, four point one billion US dollars. But also we see that got student faces criticism from tutors and students. A bit more about that can be found in our show notes. Then we have news about Tato, a company from Munich working in smart home heating controls, a bit similar to Google's nest. They want to IPO via Speck and at a valuation or four hundred fifty million euros, five hundred and ten million US dollars, merging with gfjeesg acquisition based in Luxembourg. More about that in the show notes, which also makes me hand over to you. Oh very nice. Thank you very much. I have some updates, guys for you. In what we call the D's a broke new broke wars. Background is a lot of startups fin tank some with some without, banking license, are increasingly getting busy getting people to trade in the style of Robin Hood, meaning usually you don't pay any fees at all or just just a few bucks, and you can trade sometimes even on a flat rate. One of the participants you already know those guys and twenty six. They had to publish details for twenty twenty. Their revenue in to believe, two thousand and twenty one. I'm very sorry about that, bitch. One of them is d twenty six and they had to publish details for two thousand and twenty one. Revenue Increases to one hundred ten million years and two point nine million active users. They also want to add three hundred people to the team in Brazil,...

...even though they just declared a Europe first strategy. And in France, former customers of and twenty six are suing the bank. Their accounts have been closed by end twenty six and they are locked out. According to the customers, they never got them any money back and now more than six hundred are already gathering in a facebook group. There are new hires in the Unicorn Neo broker right republic. They hired two senior bankers for the management team with experiences at City Bank, Norris and Doutsche Bank, as well as yes the group, which is a large financial group in Austria. are talking about again about Austria. The Austrian Fintech Unicorn, Bit Panda, now office its climb more than Onezero chairs and assets for trading and investing. And I was digging a little bit in my past because in the past I've been working with a lot of funds, and so just put it in perspective. He had the lip of funds database from riffinage has more than three hundred fifty thousand active shares and classes across eighty markets. So you can say there's still a little bit room to grow. The new competitors joined the market from a broad as well. First to mention, of course, everybody. Almost everybody would know revolute. They start in Germany with their own European banking license, going head to head with and twenty six in the German market and they are planning for a German office. I would assume it will be finally here when corona is eventually over. Also, the French vintech one tour, spelled Qo, and top raises four hundred eighty six million Y as dollars. Of those, one hundred million will go into their expansion in the German business market. Christian, you want to talk a little bit about Cherry ventures? Yeah, especially since I come from the German capital of Cherries and been off. That is an it's joke, and you have to correlated with his interview we made in New York when I was there at the City University, when you talked about how you got to New York. We not going to tell anything else. We linked interview down here in the show notes. Also, it's not an inside a joke. It's my biography we're talking about, you know. So sell our x flink auto, one FOTO in farm, all UNICORNS, and they're one thing in common. Their UNICORNS in which cherry ventures had invested or has invested. Now they close their fourth fund with three hundred million euros, three hundred four million US dollars. So things are looking quite well. which brings us to the end of the top stories. But in order. Before we move on today, I get to Brag and do the housekeeping, because we put the numbers together for two thousand and twenty one, we officially reached more than five million. Of you are at five million contacts with investors and entrepreneurs. In Two thousand and twenty one we are a globally at top seventy five. Signs podcast at top hundred and twenty five tech podcast at top six hundred fifty business podcast. Listen notes, which is the largest podcast. Search engine ranks us as a global top zero point five percent podcast and play FM ranks our startup rate, dot Il podcast, as well as our sub podcast, Fintech blockchain start up, this deep text security Sutra, in their top ten recommendations for Entrepreneurship in Germany. So thank you, thank you. Thank you for you being part of our audience, making this possible and being one of the thousands of people who download some type of our content or one of the episodes each week's...

...and of course, this makes us very happy. Now you're yes, you're going really another side. I'm showing a guys. Once again, thank you very much. You are an awesome audience. Let us know if you want anything else, if you have suggestions for improvement or anything else down here in the show notes. They should always a way to reach out to us, which brings us to the ecosystem, and always the type of news that we're looking for that actually explain a bit more about the bigger startup environment in Germany. So, according to the Bitcom Association in Germany right now there are not around ninety six thousands open positions in it and Germany, which is a significant increase from two thousand and twenty. And for background, in Germany for years and decades now there has been this discussion that they are enough, not enough, well educated people in areas like engineering, programming, etc. So this trend definitely goes on and Germany is very much looking for it people in all kinds of sizes and shapes European Tech Two thousand and twenty one in data by sift it was published. Just to highlights that caught our eye were that a hundred and thirty billion dollars were raised and that there were two hundred and forty seven financing rounds which were bigger than a hundred and million dollars, then a hundred million dollars, so two hundred forty seven rounds being really really big. Seventy eight new UNICORNS they are mentioning. And you will notice the data is not matching pitch books or the one from crunch based or others, because, as always, everybody is kind of counting a bit differently, has probably different different time frames they are looking at. So yeah, but still, overall, I think what's important here is the tendency that actually the market is really I was going to say the market is really healthy, but the market is really hot. Maybe. Who knows if it's healthy or not. Time will tell. And then third thing in the ecosystem. A third article topic that caught our eyes that they're sharing economy in Germany. It could fail, which sounds dramatic, and it's the result of a study that comes from research of Frownhofer Institute, not necessarily a place known in Germany for crazies scandalizing headlines. So this is actually a substantial concern about the fact that probably many, many Germans cannot imagine sharing, for example, clothing other daily items or even like machinery, like on your lawn mower or something. It's just not something that Germans do. So there are more in depth thoughts about that in a link in our show notes, which makes us move on to the hubs, and I'm gonna hand back to you. Thank you, Chris. Yes, harps, we got some feedback from Michael, from send and to me. Yes, they are a little bit random, but we want to draw your attention to the fact, then, more than eighty percent of these start up activity in Germany is taking place outside of Berlin. There are many deserving startups, cities and, of course, entrepreneurs who will navi get any English coverage. We would not, would it not be for us? This is why this section exists. Talking about my Chris. Yeah. Having having said that, thanks for the feedback and thanks for reaching out. Obviously. Yes, Frankfurt. Yeah, seat funding for Frankfurt based split APP. Will receive this via press release. Reach out to us as a well. Contact at Cet, a break that I owe. They have to digitize restaurants and bars with online...

...orders and payment processes. They raised six digit seat funding from venture capital, Hassan capital, dry has some capital, three and angels, Daniel Von Vedel, Alexander Fon Vedel, would of Kempen, Michael Ya, hockey and Mr Bit highly. Going on another note, Deutsche Burzo, also headquartered in Frankfort and operating Frankfort Stock Exchange. Seed has docks and the decks index family by Zuk in Switzerland based crypto finds a gear on marketplace for digital assets only two months after investing in the company. The multi banking vintag finance grow, also called the winds with a d because it is founded by twins, raises eight million years venture capital and Kobe dot bike founder and creascalad he was one of the very early success stories here in Frankfurt. I remember Kobe Dot bike being almost global success in crop funding when it just started out. Leaves Bush e Bike Unit, which he joined as an executive with the acquisition office start up Kobe dot bike. Christian. You got some more geography here, right yeah, so, dripping on close to my old hometown of Stuttgard in southwest Germany, is is the head or is the city that hosts the headquarters of a company that a lot of media attention went to in recent months in Germany called Quo Vac and they have become well famous but also like dubiously famous in a way, because their corona vaccine efforts were like they started out very hopefully or very hopeful and now really those hopes kind of evaporated because the company faces huge, huge challenges. So even though they are considered to be like a something like a former biotech shooting star, now we can see the quo vac had to dig their initial corona vaccine efforts, but they do want to make a comeback with a dedicated armicron vaccine. Now they will start their clinical phase one trial off this like corona vaccine of the second generation, in q one, two thousand and twenty two, so right now, and we will see what comes out of it. So far, the biggest success story from Germany is definitely by on tech, internationally known as the fiser vaccine, because basically by on take played the major role in developing it, fires a played the major role in scaling it up. We're on a worldwide level because biontach is a pretty small or comparative the Very Small Company would not have had the capacities. And on a little side note, there some some some story about German governmental finances. So there is the idea that a that in Germany you should be able to live or to have the same chances in life and the same level of comfort all over the country. No matter in which state or area of the country you live. And one way to secure this on a taxation level or in a tax tax money level is what is called the Lenda Finanzas Galife, which is a very nice German word, basically meaning that the richest states give some of their tax money that they collected because they have the bigger companies through the poorer states so that over time the living circumstances meet in the middle and Ryan Land Palatinate, the little state in which was born, yeah,...

...you were born, and also by on tech was born in the city of minds. Ryland Palatinate always used to be one of the states that took money from the others, but just the single success of Biontech, which they ended up with like billions of profit in Latin the last year. Only this one company made the whole country flip from being a taker country, to take a state, to a giver state. So yeah, and of that little side note there, and moving on to Leipzig and Saxony on the side. You know. Yeah, actually, the city of minds makes so much money they want to become a hulpful biotech and I already reached out to the people in charge there to talk about what they are planning. That might be an interview, depending on how things are going there. Will keep you updated. Yeah, because also minds is very close to Frankfort for people not bad familiar with German geography. Leipzig, where is the city in which Germany's lecturial is based. They raised thirty nine point eight nine million euros, so basically forty million euros, to accelerate the growth of their medical and nursing education platform in Munich. Bit Faster jumping around here. In Munich, in the south, there is Heim COPITA, which raised three hundred million euros from undisclosed investors to buy shares in homes in Germany. German real estate as basically real estate everywhere. It's kind of a hot button topic right now and they hope to make my any are as well. You want to do Austro in Switzerland? Yes, of course I can do. Our friendly neighbors Austria be a m ticketing Vienna based blockchain ticketing start operass one million years from investors and crowdfunding and wants to take on big clients. Now. Crafts, also a city in Austria. There is a startup called eas link they raise eight point three million years in a series a funding for that Matrix charging, a fully automated charging int created into a parking spot for electric vehicles. That means there's a dedicated place for parking your electric vehicle. You just park their, no plugging in, nothing, any charges. That is pretty cool idea. Switzerland, the Swiss army drops what what's happen in favor of three moths, since military personnel could still leave traces in what's up? But they are not the only ones. The German army developed their own messenger available since November two thousand and twenty. The Swiss digital asset bank, Zick Nums, yg n you am, secures almost eighty million years in funding and the I global expansion, and over five millions with frank's been raised to advance eahe group fuel cell technology. Who that was a lot. Let's go a little bit to our General News and company section. Chris, you want to take this and I'll take over again at Fintax? Yeah, sure. Just a couple of impulses or topics that were on our minds lately. IPOs, for example, are big topic this year. We shared an article in the December news already and we found another one with the US perspective that also applies to Europe and Germany. It's coming from pitch book and it's basically an overview of what to watch for in the two thousand...

...and twenty two IPO market, also related to the December News. The German IPO candidates for twenty twenty two, Fintax and twenty six and the Latas Bank, as well as a dating portal partship meet. They all may list in public markets in twenty twenty two. We also have a little overview about this or little link, coming front calm magazine and the news wire, German news wire as well, which, full discloe, I'm also working for. Then we have the never ending story of wire card, the big scandal. I again the short version of it being why O card used to be the UN new corn Finntag Darling and Germany politicians wanted to be seen with it, but then it turned out that a lot of the things in the books, like billions of value in the books, did not actually exist. So far that's the claim. That's what being research now, and the last turn of invent events is that the wire card investors may be able to get some of their money back, but not from the German banking controlling instance Baffin, but from e why, the investors lawyer, one of the white card why vests. Yeah, lawyer claims they get some money. Friends. You were yes. So, yeah, so the news came from the investors lawyer that maybe Ey because e why had the task to look into the books of wire card and the claim is that they did not do that properly. So maybe ehy is liable to pay some of the money. We have two articles about this, explaining it a bit clearer than I did just now, and we also have news about different kind of startup. We also talked about a lot in the last couple of months delivery start up. So delivery hero is now acquiring a majority stake in the Spanish delivery company Globo. Tech crunch. Is Why writing about this. But they also just shut down their German business after just four months operating in their home market for the second time. Then they had already left in two thousand and two and came back in two thousand and twenty one. But now again it turned out that this was not successful. Maybe again got coming back to this idea that Germans are in a lot of areas really, really price sensitive. That maybe, maybe not worth Shintax. Yeah, that may be possible. Yeah, just check fintax. Berlin based Crowd Funding Platform Noi Fund is shutting down. Why we're shutting down our successful fundraising platform is an article of one of the founders wheeling down here because it is in English. The German fittake oversized baffin investigates crypto startup cake defy for potential for potentially offering unlicensed financial services in Germany. They are formerly headquartered in Singapore but founded by a German entreprener, but without developed financial services license in Europe. Peter Tell invested, amongst others, forty million U as dollars in Berlin based INTROTECH Koya, which is now acquired by French competitor Gooko. Berlin based Finntag must raises seventy five million years in series be valid at half a bill in you as dollars. The investors include again Peter Teel's Valla ventures, bringing to total investment to more than one hundred and fifty million you as dollars. For this copper credit card start up and the VC funds of German building are Kasten, Mushmaya and fintake. Unicorn pezzunio invest in Berlin based travel expense start up...

...secula is. They called it. Eight digit venture capital. We just have a very few investment rounds. Let's say, good news. Would Chris can take again? Right? Yes, so really just a couple of impulses here. We have cut this green food. They invested in the impact start up on milk. More about that on the website. Vege economist, as in Vegetarian Economist, the EG economist, circularity capital and keen venture partners, as well existing existing investors, Invest Eighty million euro, thirty million acuty, fifty million a depth in the brilliant base software as a service. That up lenders to be two thousand and twenty three the leading sauce solution for hybrid work in Germany and Yourso just two of the for in Europe. They have bigger plans than I allowed them to have. They should not be stopped because of me. And this is it from the new section. We have three more ideas for you how to stay ahead of the curve with advice for entrepreneurs and how others startups to pay attention to, and I would say this is it from New York, before we hear here a third siren. You're going to say goodbye from New York. Exactly, crisp it. It was, as always, a pleasure covering the NIS with you. Hopefully have you back in February. We will publish our February news very likely on again, the twenty four of February. Chris, was a pleasure again, thank you very much and best of luck in two thousand and twenty two. Maybe better than two twenty one. Same. I always wish you'd twice of what you wish me. Bye Bye. That's all the folks find more news streams, events and interviews at www dot start of bread. That aio. Remember. Sharon is carry.

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