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This Month in German, Swiss and Austrian Startups - Summer News Wrap-Up 2024 (July and August)


This is a special publication: Our traditional summer startup news wrap-up, published on labor day, where we get YOU up to speed again after the summer break. Usually this episode runs a bit longer than our 30 minutes goal, so get a snack and a drink now.


Welcome


Welcome to our summer 2024 wrap-up with vital news from the startup and tech entrepreneurship scenes in Germany, Austria, and Switzerland. 


Our startup news is recorded with Chris, in New York City. Joe is joining from Frankfurt.


Today's news cut is August 21st. As always, all news not included will be in our next news wrap-up. 



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Our Highlights:

Welcome to the Summer 2024 Startup News Wrap-Up from Startuprad.io, where we bring you the latest highlights from the dynamic startup ecosystems of Germany, Switzerland, and Austria. This special Labor Day episode is packed with crucial updates from July and August, ensuring you stay ahead of the curve as we head into a hot fall and winter of innovation. 


Our top stories include Helsing's monumental €450M Series C funding, which positions the Munich-based defense AI startup as a leader in European security tech. We also explore Lilium's potential sale and relocation due to uncertainties over German state aid—a move that could significantly impact the air mobility landscape. Additionally, Grover's €50M funding round marks a strategic shift toward sustainable growth as the Berlin-based tech rental company navigates market challenges.


This episode also delves into CatalYm's impressive €150M Series D funding for cancer immunotherapy and osapiens' €110M investment to expand its global ESG platform, highlighting the robust investor confidence in Europe's deep-tech and biotech sectors. Not to be missed is the European Central Bank's first progress report on the digital euro, a major milestone in preparing for Europe’s central bank digital currency (CBDC).


Beyond individual funding news, we offer a deep dive into the broader startup ecosystem across the DACH region. The European VC landscape continues to thrive, with European venture capital firms outperforming their US counterparts over 10- and 15-year horizons, underscoring Europe’s growing influence in global innovation. We spot the surge in European deep-tech investments, with McKinsey’s research reporting that Europe now accounts for 19% of global funding in this sector, expected to grow by 25-35% by 2030. This trend is reinforced by a record-breaking €18.7B raised in venture debt during the first half of 2024, signaling an upcoming wave of mergers and acquisitions, particularly in climate tech and fintech.


Moreover, the EU’s Digital Markets Act (DMA) introduces a new regulatory framework set to reshape tech competition across Europe. Meanwhile, Germany's startup scene faces both challenges and opportunities, with a booming AI startup sector showing a 35% increase in 2024, despite government initiatives lagging behind. These ecosystem insights provide a comprehensive overview of the forces driving innovation and investment across the DACH region, making this wrap-up essential for anyone involved in European startups. Don’t miss this vital update to kickstart your fall with the latest in tech entrepreneurship!


Let's talk startups.


Schedule 

We are back from the summer break and hope all of you are refreshed and ready for a hot fall and winter! 


This summer we published new episodes each week. We want to highlight just two in cooperation with the Curious 2024 event. 


1) Legendary engineer, entrepreneur and one of the world's most cited researchers, MIT Professor Robert Langer, also a co-founder of Moderna, gave us a remote interview. We talk about research, biotech and outlook on the world of biotechnology: https://www.startuprad.io/post/exclusive-insights-from-mit-s-robert-langer-on-biotech-startups-and-modern-medicine-breakthroughs


2) Steven Chu, Nobel Laureate, former US energy secretary and Stanford Professor talked with us about energy, renewables, US vs European Green Tech and why he has no solar panels on his roof: https://www.startuprad.io/post/nobel-laureate-steven-chu-on-small-modular-reactors-and-green-startups


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Top News

Helsing AI Startup Raises €450M in Series C Funding, Valuation Soars to €4.9B


Helsing, the Munich-based defense AI startup, has secured €450M in Series C funding, boosting its valuation to €4.9B. This investment will accelerate the development of AI technologies aimed at enhancing European security. Discover how Helsing is poised to shape the future of defense tech. https://buff.ly/3WXbnfS  


Lilium Air Taxi Startup Considers Sale and Relocation Amid German State Aid Uncertainties


Lilium, the pioneering German air taxi startup, is exploring a potential sale and relocation due to uncertainties over receiving state aid in Germany. This critical decision could impact the future of air mobility and the German startup ecosystem. Read more about Lilium's strategic options and the implications for the industry. https://buff.ly/3X9KG7D 


ECB Releases First Progress Report on Digital Euro, Marking Major Step in CBDC Development


The European Central Bank (ECB) has published its first progress report on the digital euro, a major milestone in the preparation of Europe’s central bank digital currency (CBDC). This report outlines key developments and future steps in the digital euro project, which could revolutionize the European financial landscape. https://buff.ly/4bkjAid / https://buff.ly/3WVcU4R  


Grover Secures €50M Funding Amid Market Challenges, Loses Unicorn Status, Eyes Sustainable Growth


Berlin-based tech rental company Grover has raised €50M in new funding despite facing market challenges, including a retreat from the US market. This funding round will support Grover’s sustainable growth and profitability goals. Learn how Grover is navigating the current economic climate and what this means for the future of tech rentals. https://www.finsmes.com/2024/07/grover-secures-additional-e50m-in-funding.html related: https://buff.ly/4fGzI0I  


Vienna’s Speedinvest Heroes Files for Bankruptcy After Rebranding to HROs


Vienna-based HR tech startup Speedinvest Heroes, recently rebranded as HROs, has filed for bankruptcy following unsuccessful funding attempts. This development highlights the challenges faced by startups in the HR tech space during tough economic times. Discover the details of the bankruptcy and its implications for the industry. https://www.trendingtopics.eu/speedinvest-heroes-hr-startup-muss-konkurs-anmelden 


The Top Three Fundraisings Raised Almost €900 M 


Helsing, the Munich-based defense AI startup, has secured €450M in Series C funding, boosting its valuation to €4.9B. This investment will accelerate the development of AI technologies aimed at enhancing European security. In addition to Helsing’s massive funding, other significant investment announcements include Mannheim-based ESG platform osapiens securing €110M to expand its global reach, and CatalYm, a Munich-based biotech startup, raising €150M in Series D funding to advance its cancer immunotherapy research. Caresyntax from San Francisco and Berlin raised 180 M US$. These major funding rounds highlight the growing investor confidence in European deep-tech and biotech sectors, positioning these startups as key players in global innovation.


WeFox Gets in Very Heavy Waters


WeFox, the prominent insurtech unicorn, is undergoing significant changes as it exits the German market and takes a strong valuation hit. Recently, WeFox secured a crucial €25M in fresh funding from existing investors, averting a potential sale to UK insurance broker Ardonagh. This new capital injection allows WeFox to restructure its operations, focusing on profitable markets like the Netherlands, Austria, and Switzerland, while also transforming its business in Italy. With CEO Mark Hartigan reaffirmed in his role, WeFox is poised to navigate these strategic shifts and strengthen its position in the European insurtech landscape. For a deeper look into WeFox's market strategy and leadership updates, check out the full story:


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Ecosystem


World

  • European VCs outperform US VCs over 10 and 15 year horizons https://buff.ly/3xIqfov writes Sifted

  • 📉 Adtech startup funding has plummeted 2024, with only $360M raised in the U.S., the lowest in over a decade. Due to market saturation, regulatory pressures, and economic uncertainty. 🤖 Crunchbase: https://buff.ly/46PWQWF 

  • Logistics startups face a tough reality: Investments have plummeted nearly 90%, dropping from $26B in 2021 to just $3B in 2023. High interest rates and market shifts are taking their toll. Read more: https://buff.ly/3YUm9oy

  • This may also come to GSA? 🚨 Venture-backed startup bankruptcies in the U.S. have surged by 60% in 2024, raising concerns about the broader economic impact. Early-stage funding, particularly in AI, is slowing. 📉 https://buff.ly/3XcA740 

  • Startups are taking longer to close Series B rounds, with the median time reaching 28 months in 2024, the highest in over a decade. Many 2020-2021 Series A startups face a "funding cliff" as they struggle to secure follow-on funding. More details: https://buff.ly/3SSjiIL  


Europe


  • The EU’s Digital Markets Act is a new take on tech regulation https://buff.ly/3X7lEq5

  • McKinsey reports a surge in European DeepTech investments, Europe now accounting for 19% of global funding. Expected to grow 25-35% by 2030, DeepTech is Europe's chance at global innovation leadership. 🌍🔬 Source: https://buff.ly/3WUk3Ua

  • Two takes on venture debt from Sifted

    • 💼 Venture debt is surging in Europe, with €18.7B raised in H1 2024, signaling an upcoming M&A wave. Climate tech and fintech are thriving, while startups brace for strategic acquisitions. Source: https://buff.ly/4cwdzj6 

    • Venture debt is on track for a record year in Europe, with €18.7bn raised in H1 2024, and could surpass 2022’s €28.1bn record. The surge is driven by fintechs and green tech giants. More insights here: https://buff.ly/3yO0q76 


Switzerland



  • Swiss startups raised CHF 1.1B in H1 2024, with biotech leading the charge, despite a 9.5% overall decline. Early-stage investments surged, particularly in AI and energy, while late-stage funding lagged.💡 Source: https://buff.ly/3yPfyB9 


Germany


  • 📉 The ZEW index reveals the steepest decline in economic expectations for Germany in 2y. EMU outlook drops despite stable conditions, while the US & China face worsening evaluations. Inflation expectations remain stable. More: https://buff.ly/4dUNLhL 

  • 📉 The ifo Business Climate Index for Germany dropped to 87.0 points in July, down from 88.6 in June. Companies are increasingly dissatisfied with current business and growing skeptical about the future, signaling a deepening economic crisis.  https://www.ifo.de/fakten/2024-07-25/ifo-geschaeftsklimaindex-gefallen-juli-2024 

  • Germany's startup scene is waiting on promises—only 22 of 58 initiatives have been delivered by the government. With time running out, will they meet their goals? ⏳🇩🇪 source: https://www.cash-online.de/a/start-up-politik-der-bunderegierung-es-bleibt-noch-viel-zu-tun-681305/

  • 🚀 German startups give the government’s startup policies only a 4.0 (Grade D or barely passed) school grade! Less bureaucracy and easier access to public contracts are at the top of their wish list. Time to step up, government! https://buff.ly/46Snkqq 

  • We bring you content in English that is otherwise only available in German: Germany's AI landscape is full of potential, but challenges remain. From academic excellence to VC-backed startups, the road ahead requires focus on digital skills and innovation. Dive deeper into the current AI state in Germany. Read more: https://www.startuprad.io/post/the-current-state-of-ai-in-germany-opportunities-and-challenges 

    • Related, but from a different source and research :📊 The German AI startup scene is booming, with 687 startups in 2024—a 35% increase! 🚀 But funding challenges persist, pushing some to the US. Berlin and Munich lead, but other cities are catching up. Source: https://buff.ly/3MbtDf9 

    • More on German AI: 🚀 Germany's AI scene is booming! The top 27 AI startups are leading innovations from autonomous trucking to satellite-based fire detection. These companies are shaping the future of AI across industries. 🌟Source: https://buff.ly/3Xeae3S 

  • Our blog post on a Prequin report: Private Equity in the DACH Region: A Sleeping Giant Awakens https://buff.ly/3YTrmgc 

  • Our blog, based on the NGP research: Generative AI and Deep Tech are driving DACH VC https://buff.ly/3XeW6r4

  •  🚀 Schleswig-Holstein is seeing a startup boom! With 37 new startups in 2023, the region experienced a 20% growth, surpassing the national average. The software sector leads the way.🌱 https://buff.ly/3MeUGq0 

Hubs


Here we want to highlight some hidden gems and cities of general startup interest. We focused on assigning as many news to cities as possible. As always: The order of the news in the order they came to our attention.


Frankfurt - Rhein/Main

  • Former guest COMPREDICT Raises $15M in Series B Funding https://buff.ly/4cJu2Rt we will have an interview with them later in fall, when there will be more news to share.

  • FastBill's founders bought back shares from FreshBooks, regaining independence. Cheers to new beginnings! 🎉💼 Source: https://buff.ly/3Sn5E07 Rene also promised us an interview on his Buyout. 


Mainz


Koblenz


Hamburg

  • Plancraft, the Hamburg-based leader in craft industry digitalization, has raised €12M in Series A funding led by Creandum! They'll use the funds to expand their contractor OS and go beyond the DACH region. Congrats to the team! 🎉 https://buff.ly/45QypI8

  • Hamburg-based mrge acquires MaxBounty, enhancing its global reach in commerce advertising. This strategic move strengthens mrge’s offerings in key markets and boosts its expertise in CPA, CPL, and CPI campaigns. Read more: https://buff.ly/4dSPu6Y


Heilbronn

  • Lidl founder Dieter Schwarz has rebranded Zukunftsfonds Heilbronn as D11Z.Ventures, shifting focus to AI, digitalization, and deep-tech startups. With plans to invest in 75-100 startups by decade's end: https://buff.ly/3WXN41w


Mannheim


Aachen

  • 💡 Protembis secures €20M from EIB to advance its groundbreaking ProtEmbo device, aimed at protecting patients' brains during heart procedures. Big leap forward in stroke prevention! 🧠❤️ https://buff.ly/4fTMsBd


Konstanz

  • 💡 Knime secures $30M from Invus to supercharge AI governance and ModelOps! Empowering everyone to harness data with their open-source platform, Knime is shaping the future of data science. 🚀 https://buff.ly/4dL4yUf


Heidelberg

  • 🚀 Heidelberg-based insurtech Getsafe has reached profitability in its core insurance business for the first time, thanks to high automation in customer service and claims processing, aims for full profitability by 2025! 📈 Source: https://buff.ly/46RMipY 


Ebersbach (30 minutes from Dresden)

  • 🚀 Demecan, a Saxon startup, has become the first German company to receive an unlimited license to grow medical cannabis under the new Cannabis Act. This marks a major step.🌱 Source: https://buff.ly/3SWPzy


Augsburg

  • 🚀 A major setback for Rocket Factory Augsburg (RFA) as their RFA One rocket suffered a massive explosion during a test in Scotland. The incident delays their plans. The team is determined to push forward. 🌑https://buff.ly/3Aqpm4X


Tübingen 

  • 🚀HepaRegeniX, a Tuebingen-based clinical-stage company, raised €15M in Series C funding led by Vesalius Biocapital IV. The funds will advance their liver disease therapy candidate HRX-215. Details: https://buff.ly/4eajziP 


Hannover


Note: Keep in mind that we moved the fundraisings from Austria and Switzerland to the respective section towards the end of the news.  


Austria 

  • 💼 Vienna-based EDI provider ecosio has been acquired by US software giant Vertex in a deal worth up to $180M. The acquisition aims to create a seamless compliance management platform. 🌍 Source: https://buff.ly/3MfFwAZ 


Switzerland

  • We tracked more than 160 M US$ startup investments in Switzerland. Hear about it in our fundraising section

General News / Tech News / Companies News Section 


VC News and New Funds, in case you are looking for money (also only a selection):


  • VCs are navigating a tough fundraising environment in 2024, with some opting for smaller, more focused funds while giants continue to grow. Will the trend towards bigger rounds push fund sizes even higher? 🤔 Read more: https://buff.ly/3YPMowf

  • 🚀 UVC Partners just closed their 4th fund at €250M, smashing records with this quick and oversubscribed round! They're doubling down on DeepTech, ClimateTech, Mobility, and AI startups in Europe. 🌍💡 Read more: https://buff.ly/3MeLylb  


Green Tech News


  • 🌬️ Big news for Europe’s green future! The EIB is teaming up with Deutsche Bank to boost wind energy with a €5B initiative, starting with a €1B guarantee for wind projects. 🌍💨 Source https://buff.ly/3WGXAbN 

  • 🌍 The EU's climate tech scene is heating up! 🔥 With €18.3B raised in 2023, these top investors are leading the charge toward a greener future. 🌱 Check out the most active backers of climate innovation:

1️⃣ EIC Fund (Germany)

2️⃣ Bpifrance (France)

3️⃣ Antler (Singapore)

4️⃣ Speedinvest (Austria)

5️⃣ SFC Capital (UK)

6️⃣ Green Angel Ventures (UK)

7️⃣ High-Tech Gründerfonds (Germany)

The future looks green! 🌿


Fintech News



General News


  • TSMC is set to break ground on its first European fab in Dresden, Germany, with investments across Germany, Japan, and the U.S. nearing $100 billion. The Germany fab will focus on 28/22nm and 16/12nm processes, aiming for a 2027 start. More details: https://buff.ly/4dw9X1U

  • 🦄 Once unicorns, now fallen stars: Several German startups, including Grover, Tier Mobility, and Lilium, have lost their billion-dollar valuations. Tough market conditions and strategic challenges have taken their toll. Read more: https://buff.ly/3WSreLA

  • Porsche SE's bold move into sustainable mobility with Flixbus marks a new era for global transport. Discover how this strategic investment is set to reshape the future of mobility! 🚍🌍 Read more on our blog: https://www.startuprad.io/post/porsche-se-s-surprising-investment-in-flixbus-a-strategic-move-into-the-future-of-sustainable-mobil 

  • Again Porsche: Porsche agrees to provide capital in battery producer Varta’s restructuring deal https://buff.ly/3M9HiUf 

  • 🚛 Big move in logistics! sennder is set to acquire C.H. Robinson’s European land transport business, creating a €1.4B giant in the industry. This deal boosts sennder's reach and strengthens its digital logistics platform. 🌍 https://www.presseportal.de/pm/175869/5833379 

  • We sneak some medtech research in here: Researchers at University of Mainz discover a replacement for fentanyl that has less severe side effects https://buff.ly/3LpxHrS 

  • German AI startup Aleph Alpha once claimed its language model could rival ChatGPT. Despite raising $500M and initial excitement, the tech now seems outdated and underwhelming. Industry insiders say its focus on niche solutions limits its growth. NTV: https://buff.ly/4f4y9td 

    • Related: Germany’s AI star Aleph Alpha faces internal friction as Lidl’s parent company, Schwarz Group, reportedly exerts significant influence. Is investor power overshadowing innovation? 🤖💼 source: https://buff.ly/3SCK7k3 

    • Related, our take: The Rise and Struggles of Aleph Alpha: Germany's AI Hope https://buff.ly/3AAnmr7 

  • Venture capital could be NATO’s ultimate weapon. Here’s why https://buff.ly/3Lsy9pg

  • Big news in the SaaS world! Semrush just acquired Munich-based Ryte to supercharge their Website User Experience game.🎉 https://buff.ly/4fDPNUP 

  • Salesforce snaps up Berlin-based Spoke.ai to supercharge Slack AI. Another step toward taming the info overload in the workplace! 💼🤖 Source: https://www.deutsche-startups.de/2024/07/22/dealmonitor-saiz-trait-dyno/ 

  •  💥 Star entrepreneur Philipp Schröder (1KOMMA5) promoted a now-defunct crypto project through Capinside, facing potential liability after investors suffered losses. Could this lead to a legal reckoning in the crypto world? ⚖️ Source: https://buff.ly/4fSQj1C

  • ♻️ TBAuctions has acquired German industrial auction house Surplex, expanding its reach across Europe. This strategic move enhances TBAuctions' presence in key markets 🌍 Source: https://buff.ly/4fV1bMv 


Schumpeters Schöpferische Zerstörung ⇒ Creative Destruction Still Ongoing: 



End on a High Note: Successful Fundraisings and Exits: 


Keep in mind this is a small selection. The news here and their total value show how resilient the startup scene is. We included only selected fundraisings above 5 million Euros or USD. This month, there were so many announcements that we could not include ALL funds raised. We will only bring you highlights here. 

  • 🏡 Berlin-based Myne secures €40M to expand its co-ownership vacation property model into Portugal and Croatia. With demand high, Myne aims for profitability in 2024, making vacation home ownership more accessible. 🌍 Source: https://buff.ly/4czHhUr 

  • Munich’s One Data secures €32M in Series B extension to boost AI-powered data management and expand globally. Powering blue-chip giants like BioNTech, they’re revolutionizing data product management. 🌍📊 Source: https://buff.ly/3yyCPHq

  • 🎨 The creators of Stable Diffusion just launched Black Forest Labs with $31M in funding to power FLUX.1, a new AI image generator that’s shaking up the open-source scene. Get ready for faster creativity! 🚀 Source: https://buff.ly/4ct1nj7?utm_source=-custom-by-source-1-

  • LiveEO Raises €25M in Series B Funding https://buff.ly/3zt6kdO

  • 🚀 Berlin's Checkly raises €18.4M (20 M USD) Series B to revolutionize website monitoring with 10x faster issue resolution through Monitoring as Code. Quick detection, less downtime, happier customers! 🌐 Source: https://buff.ly/3WQLkpw 

  • Finn Hänsel, the founder and CEO of Sanity Group, who was awarded the Entrepreneur of the Year 2021, has once again proven his fundraising prowess in the German cannabis industry. We had the pleasure of interviewing him after his latest achievement—a €17 million deal with Organigram Holdings Inc. Read more about how this deal marks the beginning of a new era for cannabis in Europe. 

  •  Austria

    • Nothing newsworthy this summer here

  • Switzerland

    • Big win for biotech! 🧬 Asceneuron closes a $100M Series C round to push their Alzheimer’s drug, ASN51, into Phase 2 trials. With top investors on board, the future of neurodegenerative treatment looks promising! 💊 https://www.startupticker.ch/en/news/asceneuron-closes-100-million-series-c-financing-round

    • Zurich's Lakera just raised €18.4M (20 M USD) to secure GenAI apps—because in the AI world, security isn't just an option, it's a necessity. 🚀🔐 source: https://buff.ly/3WGXZuP

    • 👏 Big news! Zurich-based Libattion, a leader in upcycled energy storage, raises €14M to further decarbonize the industry! 🌍💡https://buff.ly/3W945FB

    • Synthara, the Zurich-based semiconductor innovator, raised over USD 11M led by Vsquared Ventures. Funds will launch their patent-pending ComputeRAM for embedded computing. Hermann Hauser joins as an advisor! Congrats team! 🎉 https://buff.ly/3zBv2Zn

    • 💉 LimmaTech scores a €10M win! Partnering with Valneva to fast-track the world's most advanced Shigella vaccine. With no approved vaccine, this is a game-changer for global health. 🌍 https://buff.ly/46QQia6 

    • Swiss Health-Tech startup Sanos raises €7M led by Google Ventures & Partech to expand its dental platform "Roger." Aiming to revolutionize patient management in Germany and beyond. 🦷🚀 Read more: https://buff.ly/46XkP69   



We will be back on October 3rd with the next news episode. We shifted this, because October 3rd is a public holiday in Germany, Unification Day and so we have a whole month for the news, PLUS you can all listen to the news during your first fall hike or bike ride. 


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The news are co-hosted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. And Christian “Chris' ' Fahrenbach, co-founder Startuprad.io, freelance reporter, lecturer, author and blogger . Reach out to them:


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Welcome to Startuprad.io™, the audio and video podcast, one of the premier sources for news and insights into the world of German, Austrian, and Swiss tech innovation! 


If you’re looking for insightful conversations with industry leaders, game-changing entrepreneurs, and influential investors, you’ve come to the right place. Our platform is designed for decision-makers like you, with Nobel Laureates, Emmy Award winners, authors of New York Times bestsellers, and Forbes 40 under 40,  Top Capital 40 unter 40, and Forbes 30 under 30, as guests.  Dive into our content that offers a curated selection of interviews with current and future movers-and-shakers. 


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Automated Transcript

Joe (04:24.429)

Yep, we'll do so. Okay. Hello and official start. Hello and welcome everybody. This is Joe from StartupBrate .io, your startup podcast, YouTube blog and internet radio station on the German, Austrian and Swiss startup scene. Today we are back. Hey Chris, miss you a lot. How you doing?


Christian (04:45.932)

I'm doing fine. Summer is still ongoing, but yesterday was the first day of fall here in New York. Felt like it.


Joe (04:53.485)

I actually love it here, everybody who's listening to this, I'm wearing a polo shirt, short sleeves, but long trousers, so therefore long pants. Therefore, I actually really like this one because the temperature goes down at night, I can sleep pretty well. And during the day, it's not too harsh. It's awesome. Let's get started. This recording will be tiny bit longer than usual, maybe even much longer.


Welcome to this month in German, Swiss and Austrian startups, our regular summer news wrap up for July and August. This is a special publication, our traditional startup summer news wrap up, published on Labor Day in the US, where we get you up to speed again after the summer break. Usually this episode runs a little bit longer than our 30 minutes goal. So guys, now is the time to get a snack and a drink.


Welcome to our summer 2024 wrap up with vital news from the startup and tech scene in Germany, Austria and Switzerland. Our startup is recorded with Chris in New York. He's waving, he's waving. And me, Joe, joining from Frankfurt. Today, our news cut is August 21st, 2024. As always, all news not included will be in our next news wrap up.


this time, usually we would, let me check my work calendar. We will publish on the 26th of September, but this is a pretty short time. So Chris and I decided we will have the next startup news publication on October 3rd for the very simple reason it's a public holiday, it's Unity Day here in Germany. So we will get you a publication on October 3rd and we have complete month of news there. Also, new.


We have a new partner announcement with exclusive benefits for StartupRate .io listeners. Did you know that on average a blog post gets you way more traffic than a social media post? We have a special deal with moderniqs .com where StartupRate .io listeners can create two free SEO optimized blog posts per month in less than a minute. I repeat, two pieces free a month. You will get the two free posts for your blog each month


Joe (07:15.411)

Only when you use the sign up link we have down here in the show notes. This is exclusive for our audience. Normally you get only one. Also, our partner Deep Ecosystem is running a new survey. You can help shape the future of European startup hubs. Share your insights in the Startup Heatmap Europe Survey. Your voice matters. Join us in mapping the next wave of innovation. You can participate with link in the show notes until


September 15th. Chris, you are the person who always gives us the highlights,


Christian (07:53.152)

Yes, I am.


Joe (08:06.639)

Okay, short interruption and we start at the highlights. Hang on.


Christian (08:10.626)

Yeah.


Christian (00:07.0)

I am like my whole life and me too. full of highlights. So as you said, this is our welcome to the summer 2024 startup news wrap up from startuprate .io where we bring you the latest highlights from the startup ecosystems of Germany, Switzerland and Austria. Also, my apologies, you might hear some construction work in the background. This is just what New York does.


If you think it's annoying while listening to the podcast, then imagine living through it. Today is a special Labor Day episode packed with updates from July and August, ensuring you stay ahead of the curve as we head into a hot fall and winter of innovation here. And our top stories include Helsing's monumental 450 million euro series C funding, positioning the Munich based defense AI startup as a leader in European security tech. We explore Lilliam's


potential sale and relocation due to uncertainties over German state aid, something that could significantly impact the air mobility landscape. Also, Grover is having a 50 million euro funding round, marking a strategic shift towards sustainable growth as the Berlin tech -based rental company navigates market challenges. Also in this episode, we delve into Kettle,


YM Catalim's impressive 150 million euro series defunding for cancer immunotherapy and Osepian's 110 million euro investment to expand its global ESG platform, highlighting some robust investor confidence there in Europe's deep tech and biotech sectors. Not to be missed, European Central Bank's first progress report on the digital euro.


a milestone in preparing Europe's central bank digital currency, CBDC. Beyond those individual funding news, we will talk a bit more about the broader startup ecosystem in the DACH region, DACH being the German abbreviation for GSA, Germany, Austria, Switzerland. The European VC landscapes continues to thrive with venture capital firms outperforming US counterparts over 10 and 15 years horizon.


Christian (02:27.864)

So we see that Europe is gaining some traction in the global innovation landscape. We also spot the surge in European deep tech investments with McKinsey's research reporting that Europe now accounts for 19 % of global funding in this sector, expected to grow by 25 to 35 % by 2030. A trend reinforced by record breaking.


18 .7 billion euros raised in venture debt during the first half of 2024, signaling an upcoming wave of mergers and acquisitions, particularly in climate tech and fintech. Moreover, the EU's Digital Markets Act, DMA, introduces a new regulatory framework set to reshape tech competition across the continent. And Germany's startup scene faces both challenges and opportunities, with a booming AI startup sector showing 35 % increase in 2024.


despite government initiatives lagging behind. These ecosystem insights provide an overview of the forces driving the conversation in the startup scene right now. that's it for me kick -starting our show for today. And I will hand it over to you for more details now. Let's talk startups, but first schedule.


Joe (03:51.703)

Yes, we are back from the summer break and hope all of you are refreshed and ready for hot fall and winter. This summer we published new episodes each week, plus a few blog posts we want to highlight just two in cooperation with the Cures 2024 event here in the lovely city of Mainz. Legendary engineer, entrepreneur, and one of the world's most cited researchers, MIT professor, Robert Langer.


Also, co -founder of Moderna gave us a remote interview. We talked about research biotech and outlook on the world of biotech. By the way, I met him in person in mind, but we had to rearrange the recording due to his travel schedule and his very heavy schedule on site. Stephen Chu is the first novel art we interviewed here.


the former US Energy Secretary and Stanford professor talked with us about energy renewables, US versus European green tech and why he has personally no solar panels on his roof. We'll get you at least weekly content until I need to turn again to my trusted paper wall calendar until the 19th of December. The audio podcast and the video podcast will live.


will go live on September 2nd as we repeatedly said, it's Labor Day in the US. Happy Labor Day for all of you listening there. If you get your news to your inbox, if you prefer that you can subscribe to our sub stack for everything else. There's our link tree, our enablers. This recording is supported by HTII and the European Enterprise Network Hessen. This recording was made possible by Hessen Trade & Invest and the Enterprise Europe Network Hessen.


These organizations have made tremendous contributions to helping startup businesses succeed and thrive, providing a range of services from helping to find grants to ongoing partnerships. By taking advantage of these resources, startup companies can network and develop innovative strategies for success on the international stage. The dedicated support of HTAA and the Enterprise Europe Network Hessen is paramount in providing startup businesses with the tools for lasting success.


Joe (06:09.739)

Look for our dedicated sub podcasts in partnership with them called Tech Startups Germany. Startup Raven, the best way to find investors and cooperation partners for early stage startups. Sign up for Alexis here. Chris, you drove a little bit more into the top news as we said before, we're now doing a little bit more top news and go a little bit more in depth there.


Christian (06:35.992)

Yeah, some of it I already mentioned in the highlights section, but let's have a closer look at some of these news. First off, Helsing, an AI startup based in Munich, working in defense AI, they have secured 450 million euros in series C funding and are now looking at evaluation of a staggering 4 .9 billion euros.


Their investment hopefully accelerates the development of AI technologies aimed at enhancing European security. yeah, good for them that right now they are, guess, at an intersection of two booming trends right now with Europe wanting to be more independent when it comes to defense and security investments and AI.


Joe (07:26.647)

For our international audience, 4 .9 billion euros is almost 5 .5 billion US dollars valuation year.


Christian (07:34.168)

You can have a look at how Helsing is poised to shape the future of defense tech in a more in -depth article in our show notes that we are linking to from 10 Silicon Canals.


Then moving on, Lilium, an air taxi startup, they are a bit more troubled. They are considering sale and relocation in the middle of German state aid uncertainties. They consider themselves one of the pioneering German air taxi startups, but are exploring a potential sale because, yeah, I guess the support in Germany grew colder.


for the air taxi industry, fantasy some might say. Their potential move actually would, I guess, impact the future of air mobility in Germany as a whole or the German startup ecosystem even. You can read more about Lilliam's options and the implications for the industry also in our show notes, this time a longer article at Handelsblatt.


some kind of the biggest German daily newspaper for business and economics news.


Joe (08:54.131)

once again have to add some content here. also had an article that didn't make it into this news episode. A study saying that only wealthy people could afford such air taxi rides because the fares would be pretty high.


Christian (09:09.304)

Moving on to the European Central Bank, ECB, they have published their first progress report on a digital euro, means they are preparing a digital currency. In the first report you can read about key developments, future steps in the digital euro project, a project of which they hope that


it will revolutionize the European financial landscape. Grover, a Berlin -based tech rental company, has raised 50 million euros in new funding despite facing market challenges, including a retreat from the US market here. Funding round now will support Grover's growth and profitability goals. They are navigating a rather challenging economic climate right now.


and are thinking a lot about the future of tech rentals. You can read more about that also in our show notes. They are not anymore right now having a unicorn startup, but it seems as if there are some like honest conversations going on right now. In Vienna, we see that the HR tech startup Speed Invest Heroes


filed for insolvency. They recently rebranded as HROs because their funding attempts proved to be unsuccessful in the end. This development highlights the challenges faced by startups in the HR tech space as a whole during our economic tough times right now. Details of the bankruptcy and its implications for the industry are explained in depth on trending topics.


We found top four fundraisings, summing up at least or almost 900 million euros. Helsing, we already said, 450 million euros in series C. Then Mannheim -based ESG platform, Osapeon, secured 110 million euros to expand global reach. Cataly


Christian (11:28.344)

Kettle YM, a Munich -based biotech startup, raised 150 million euros in series D for cancer immunotherapy, and Care Syntex from San Francisco and Berlin raised $180 million. Major funding rounds, which I guess all highlight growing investor confidence in European deep tech and biotech, because they are all positioning these startups as key players in global innovation. And I think here we really can say


I mean, looking back to when we started also our show, these are numbers that back then would have been like more or less unthinkable. Having three digit million in millions in funding for a single company back then would not have been possible. And because I remember us talking a lot about in the beginning also about how the German startup scene or the European startup scene will ever be able to keep up with.


the developments in other hotspots like Silicon Valley. And now numbers like this really show that there are all these like highlights or maybe unicorns that prove that also the industry here has become more more important. And WeFox is getting in heavy waters. It's an inshore tech unicorn undergoing significant changes as it exits the German market and takes a strong valuation hit. Recently,


WeFox secured a crucial 25 million euros in fresh funding from existing investors because they needed to avert a potential sale to a UK insurance broker named Ardenal. And now the new capital allows WeFox to restructure operations, focus on profitable markets like the Netherlands, Austria, and Switzerland while transforming the business in Italy. CEO Mark Hartigan reaffirmed in his role. And WeFox is now poised to navigate strategic


shifts a bit better and overall strengthen the position in the European intertangible landscape. We also have sources here for a full story. This is what I would say the highlight section for this month or for the summer. Handing it over back to you to talk housekeeping and bragging.


Joe (13:40.022)

Yes.


Joe (13:46.903)

Do you know, you talked about past and we had a few episodes of the Unicorn Stampede where we had almost monthly new unicorn creations. Now with WeFox and Grover, we have two leaving the club, but I'm sure there will be new ones coming in pretty soon. As Chris always said, housekeeping and time to brag, but you know, it ain't bragging if it's true. Startup Radio hit a new height of 2 .1 million.


inventory in the first half of 2024. From Nobel laureates to Forbes entrepreneurs, we bring you the best of the GSA startup. Join us in this journey and we are looking for 5 million inventory this year. That will be awesome. If you're interested to work with us down here in the show notes, there is a link to our website, Become a Partner. You can subscribe and follow on the Startup Radio Link Tree.


also link here in the show notes. And for the ecosystem, I hand over to Chris where we do have a little bit of world where we have quite frequently US data because they are pretty good trend indicator of what is going on in startup world.


Christian (14:55.608)

Yes, ecosystem, as you may know, the section of the show where we zoom in more and more. So we will start on a global scale first with a couple of new stories there on a worldwide level. We see that European VCs outperform US VCs over 10 and 15 years or over 10 and 15 year horizons rights sifted. Atex startup funding has plummeted in 2024 with only three hundred sixty million dollars raised in the US.


which is the lowest in over a decade due to market saturation, regulatory pressures and economic uncertainty rights crunch base. We also see that logistics startups face a tough reality. Investments have plummeted nearly 90 % dropping from $26 billion in 21 to just $3 billion in 23. Reasons for that are high interest rates and market shifts.


Something that may also come to GSA, venture -backed startup bankruptcies in the US have surged by 60 % in 2024, raising concerns about broader economic impact, early stage funding, and particularly early stage funding in AI is slowing. And startups are taking longer to close series B rounds with the median time reaching 28 months in 2024, highest in over a decade. Many 2021 series A startups face now a funding cliff as they struggle to secure


Follow on funding.


Zooming in on Europe, the EU's Digital Markets Act is a new take on tech regulation. That is like a topic for the connoisseurs there, but we have more information about that in the show notes, links. McKinsey reports a surge in European deep tech investments. Europe now accounts for 19 % of global funding expected to grow 25 to 35 % by 2030. And yeah.


Christian (16:51.704)

meaning that deep tech is Europe's chance at global innovation leadership. we found two takes on venture debt on the SIFTED website. Venture debt is surging in Europe with 18 .7 billion euros raised in the first half of 2024, signaling an upcoming &A wave. Climate tech and fintech are thriving while startups brace for strategic acquisitions. venture tech, sorry, venture debt is on track.


for a record year in Europe with 18 .7 billion raised in H1. Just another source that we also link to in the show notes, emphasizing a bit more that the surge is driven not only by FinTech, but also by green tech giants. Zooming in even more on Switzerland and the Swiss ecosystem, Swiss startups raised 1 .1 billion Swiss francs in the first half of 2024.


with biotech here leading the charge despite an overall 9 .5 % decline. Early stage investment surge, particularly in AI and energy, while late stage funding lagged. Moving on to the neighbor in the north, us, I would say, Germany. The ZEW index reveals the steepest decline in economic expectations for Germany in two years. The outlook


drops despite stable condition while the US and China face worsening evaluations. Inflation expectations remain stable though. And then we always talk about it each month. The EFO Geschäfts Klima Index, the EFO Business Climate Index for Germany dropped to 87 .0 points in July, down from 88 .6 in June.


Reasons for that are companies are increasingly dissatisfied with current business and growing skeptical about the future. So the conversations about a deepening economic crisis are still not off the table here. In general, Germany's startup scene is waiting on promises. Only 22 of 58 initiatives have been delivered by the government.


Christian (19:10.78)

Yeah, this is also another ongoing conversation about what can the federal government do in order to improve conditions for the startup scene. Right now, the German government coalition is in heavy waters overall. So the question here also is how much can they actually still push forward when it comes to a digital economy? More about that has cash online. Then...


This also leads to the fact that German startups give the government startup policies only a 4 .0, like a four. That means in Germany, it's grade D, barely passed. They are especially criticizing the red tape, wishing for less bureaucracy and easier access to public contracts. Time to step up. Government says not just we, but also Bitcoin.


And we bring you content in English that is otherwise only available in German. It's funny that I claim we bring you content in English and I can't even pronounce the word otherwise. Germany's AI landscape is full of potential, but challenges remain from academic excellence to VC -backed startups.


Joe (20:20.491)

Who are you? Everything's fine.


Christian (20:34.872)

The road ahead requires focus on digital skills and innovation. You can dive deeper into the current AI state in Germany. Yeah, in a deep read that we have related, but from a different source and different research, the German AI startup scene is booming with 687 startups in 2024, a 35 % increase. As always with these things, it depends a bit on how they are specifically counting, but we are always interested in the trend lines. So seeing while there's...


A 35 % increase is a significant development for us. Funding challenges persist nevertheless, pushing some to the US. Berlin and Munich lead the funding, but other cities are catching up. And the top 27 AI startups are leading innovations from autonomous trucking to satellite -based fire detection. Another report about that can be found in our show notes. Then we have a blog post on Priekwin report, a private equity in the Dach region is


Sleeping Giant Awakens is the headline at the bottom line there. And on our blog based on the NGP research, we found that generative AI and deep tech are driving GSA VC industry or scene. And Schleswig -Holstein, Germany's northernmost state is seeing a startup boom with 37 new startups in 23. The region experienced a 20 % growth, surpassing the national average.


software here leading the way. Again, the absolute number is probably not as important as the trend line here. So maybe you want to think about spending your time on the Baltic or North and Sea. That was a lot of yapping from me. Let's move on to hubs and let me hand it over to you.


Joe (22:24.695)

Yes, as always, want to highlight hidden gems of general startup interest, what international press does not covered. This time we tried our utmost to focus on as many cities as possible and you'll hear there's a lot. And the order of the news is simply the way we found them. Our former guest, Frankfurt Rhein -Main, our former guest, Compredict raises 50 million US dollars in a series B funding.


We'll have an interview with them later in fall when there will be more news to share. FASPA, we also had them in our interview on their takeover from FreshBooks, the Canadian Unicorn. Now the founder, René, buys the shares back, regaining independence. Cheers to your new beginning. Here's the link in the show notes. And also, René promised us an interview on his management buyout. Mines Biontech reports positive.


Phase 2 data on its mRNA cancer drug in combo with Regenorones therapy promising results, but more details awaited. Cooplens. Sedui acquires Fox education and raises a further 20 million euros according to high tech Grundefond HTGF. Hamburg Plancraft. The Hamburg based leader in craft industry digitalization has raised 12 million euros in a Series A funding.


led by Creadoom. They'll use the funds to expand their contractor OS and go beyond the DAH region. Congrats to the team. Hamburg based MRGE Merge acquires max bounty enhancing its global reach in commerce advertising. This strategic move strengthens Merge offerings in key markets and boosts its expertise in CPL.


CPA, CPL and CPI campaigns. Heilbronn, the city where a billionaire, the founder of Lidl, Dieter Schwarz is located. Lidl founder Dieter Schwarz has rebranded Zukunft von Heilbronn as D11. Set Ventures shift their focus to AI, digitalization and deep tech startups with plans to invest in 75 to 100 startups by the end of the decade. Mannheim.


Joe (24:47.863)

Osepians, we already talked about them, 110 million funding, congratulations. The round is led by Goldman Sachs and they already are used by 1 ,300 clients globally. Aachen, the city with the two A's. Potempis secures 20 million from EIB to advance its groundbreaking Potembo device aimed at protecting patients' brains during heart procedures.


Constance, Neme secures 30 million from Invos, a supercharged AI governance and Model Ops empowering everyone to harness data with their open source platform. Kine is shaping the future of data science. By the way, Kine is an acronym something with constant. I don't remember from top of my mind. Heidel -based InsureTech gets saved. We talked about that frequently.


has reached profitability in its core insurance business for the first time. Thanks to high automation and customer service and claims processing, they aim for full profitability in 2025. Ebersbach, and that's the one I had to look up. It's around 30 minutes by car from Dresden. Demikan, a Saxon startup, has become the first German company to receive an unlimited license to grow medical cannabis under the new Cannabis Act.


This marks a major step. Augsburg, a major setback for rocket factory Augsburg RFA. As the RFA -1 rocket suffered a massive explosion during a test in Scotland, the incident delays the plans the team is determined to push forward. Tübingen, Hepar -Region X, a Tübingen based Klingel stage company raised 15.


million in CRC funding led by Visalios Bio Capital for the funds will advance their liver disease therapy candidate. Hanover based hero all in capital letters secure 40 million in CRSB to power tradesmen SME across Europe with new funding here aims to streamline financial transactions and expand its SAS platform. Chris.


Joe (27:12.267)

You wanna take over Austria and Switzerland? Guys, as I said, a lot of very small cities here.


Christian (27:18.328)

Yeah, yeah, ecosystem in Austria and Switzerland. This is rather short today. In Austria, we see that Vienna based EDI provider Ecosio has been acquired by the US software giant Vertex in a deal worth up to 180 million dollars. The acquisition aims to create a seamless compliance management platform.


And in Switzerland, we track more than 160 million US dollar startups investments. We will tell you more about that later in the details because now we are moving on to the general news, tech news, company news section. First of VC news, new funds in case you're looking for money, also only a selection. VCs are navigating a tough fundraising environment in 2024 with some opting for smaller, more focused funds while giants continue to grow, is one of the reports that we found that asks.


Will the trend towards bigger rounds push fund sizes even higher? And UVC partners just closed their fourth fund at 250 million euros, smashing records with a quick and oversubscribed round. They are doubling down now on deep tech, climate tech, mobility, and AI startups in Europe.


And yeah, this is what we see for...


for the funding. I'm a bit distracted here because UVC, no, please cut it out. Okay, period. We move on to green tech with you, Joe.


Christian (29:05.804)

You're on mute.


We move on to green tech with you, Joe.


Joe (29:11.895)

Yes, and I unmuted my microphone this time. Thanks, Chris. Green tech news. Big news for Europe's green future. EIB, the European Investment Bank, is teaming up with Deutsche Bank to boost wind energy with a five billion, yes, billion euro initiative, starting with a one billion guarantee for wind projects. Also, we found the EU climate tech scene is heating up with 18 .3


billion euros raised in 2023. These top investors are leading the charge toward a greener future. Check out the most active backers of climate innovation. EIC fund that is the European investment council. So it's a European union thing, but this one is based in Germany. BPI France, Antler from Singapore, Speed Invest from Austria.


SFC capital from the UK, Green Angel Ventures from the UK, and again, the high tech from HTGF from Germany. As always, we have an interview with the CEO. FinTech news. Let's get to the FinTech news Chris, shall we? Berlin based Bunch has secured 15 .5 million US dollars in a series A funding to modernize private.


markets replacing outdated tools with AI -driven solutions. A heist straight out of movie. Thieves made off with 18 million euros in luxury watches from Berlin's Watchmaker in 2022. The culprits sentenced to years behind the bars. The loot still missing. Note, watchmasters always try to position themselves as fintechs, so we include them here in the news.


and Munich's Komeitum is offering an exclusive chance to invest in Klarna shares before the rumored IPO promising high returns with significant fees. Is this really a golden ticket or risky bet? Read more in the source link. And Chris, I want to hand over you to a little bit money in the general news, right?


Christian (31:29.752)

Hell yeah. In the general news now, yeah, also a lot of stuff to work through. So let me get right through it. TSMC is set to break ground on its first European fab in Dresden, Germany with investments across Germany, Japan and the US now near ring $100 billion. That actually just happened yesterday and the groundbreaking.


I don't know if you call it the groundbreaking. mean, the ceremony where all the politicians came together actually even attracted Ursula von der Leyen from the European Commission and German Chancellor Olaf Scholz. The whole project is not without criticism in Germany because five billion dollars in funding, half of it actually comes from German taxpayers. And with these things in the end, you never really know how much they are aiming, how much they are paying off.


Once unicorns now fall in star, several German startups, including Grover, TIA Mobility, and Lilium have lost their billion dollar valuations. Reasons for that are tough market conditions and strategic challenges. A more in -depth report about these devaluations you can find in the show notes. Porsche as is bold move into sustainable mobility with Flixbus marks a new era for global transport.


discover how this strategic investment is set to reshape the future of mobility on our blog. I think it's really interesting to see that for a long time now German car manufacturers are really looking into how to diversify their portfolios with regards to the future of mobility and obviously the electric mobility trend but also car sharing and new forms of transportations and mobility.


It's been a conversation for a long time, but probably now finally bigger moves and bolder moves are being made. Again, Porsche, they agreed to provide capital in a battery producer called VARTA, pretty traditional and well -known battery producer in Germany. And VARTA has a restructuring deal, so Porsche has their hands there because also, again, going back to electric mobility, all those manufacturers now need those batteries.


Christian (33:50.072)

We see a big move in logistics. Sender, written with two N's, is set to acquire CH Robinson's European land transport business, creating a 1 .4 billion euro giant in the industry, a deal that boosts senders' and strengthens also their digital logistics platform. We sneak in some more MadTech research here. Researchers at the University of Mainz, close to where you are, discovered a replacement for Fentanyl.


that has less severe side effects, obviously a very dramatic and problematic influence, especially here in the US, but also in other countries. We found news about German AI startup Aleph Alpha, who once claimed its language model could rival chat GPT. But despite raising $500 million and initial excitement, the tech now seems really outdated and underwhelming. Industry insiders say its focus on niche solutions also limits the growth.


We got several articles about this. So because there's also discussions with the parent company Schwarz Group that has significant influence in Aleph Alpha. And so the question really becomes whether those investors are overshadowing innovations. And yeah, we also have the rise in struggles of Aleph Alpha, Germany's AI. I hope we have more.


in an original report on our website there too. Venture capital could be also NATO's ultimate weapon. If you want to know why, check the show notes. Big news in the SAAS world, SEMrush, a software as a service company, just acquired Munich -based right with a Y instead of an I to supercharge their website user experience game. Salesforce snaps up Berlin -based spoke


AI to supercharge Slack AI, another step towards taming the info overload in the workplace. Star entrepreneur Philipp Schröder from 1 .5 relating to the climate goal, promoted a now defunct crypto project through CapInsight and is facing potential liability after investors suffered losses. Question now is, could this lead to a bigger legal reckoning in the crypto world?


Christian (36:13.64)

NTB auctions has acquired German industrial auction house zur plex sur plex Expanding its reach across Europe a strategic move that now enhances TB auctions presence in key markets This is all this and now some creative destruction news


Joe (36:36.154)

I was just checking because the first news is Hufheim pretty close to Frankfurt based startup, Solanative files for insolvency, putting 130 jobs at risk. Despite innovative Solatech, they couldn't secure enough investors, a bias needed by August to avoid shutdown. And was just checking, but there's no news at the time of the recording. Berlin based catering startup.


MyMyCatering has filed for insolvency but is actively seeking investors to secure its futures. Despite the setback, operations will continue with 14 jobs and supplier partnerships in tact rights to online. Berlin -based B2B startup Magalupe, a marketplace for store owners, wholesalers and manufacturers, has filed for insolvency. Founded in 2018, it had raised around


20 million euros from investors like Fuse, Future Partners and BitBook Adventures. Infosolvency also strikes Berlin based Solitic, a solar software startup and Hamburg's adaptive robotic 3D printed construction firms. Evercortex


A company specialized in autonomous transportation systems for under 3 .4 .0 has to file for insolvency. The firm known for its mobile robots and patented sensor technologies aimed to continue. Nothing we found in Austria and in Switzerland. Marinomade BioTech faces restructuring with 25 million euros in liabilities filing to reorganize.


potential layoffs and asset sales are likely stocked down from 140 to 10. More details on trending topics. There was a lot of bad news. Chris, you want to end with the good news?


Christian (38:38.136)

Let's end on a high note with more news about successful fundraising and exits. As always, please note this is just like a small selection. We only included some fundraising above 5 million euros or US dollars. And also this month we had the good problem that many announcements came in so that we could not include all funds raised. Let's go. Berlin based mine.


YNE secures 40 million euros to expand its co -ownership vacation property model into Portugal and Croatia. Demand seems high, and MIME aims for profitability already this year, and making vacation home ownership more accessible. Munich's OneData secures 32 million euros in a series B extension to boost AI -powered data management and expand globally. They are powering blue chip giants like Biontech,


and trying to work on data product management. Creators of stable diffusion just launched Black Forest Labs with $31 million in funding to power Flux .1, a new AI image generator that's shaking up the open source scene. They're hoping for all of us to get ready for faster creativity. Life .EO raises 25 million euros in a Series B funding.


Berlin's Checkly raises 18 .4 million euros, a bit of a queer sum, but this is because it's 20 million US dollars in series B to revolutionize website monitoring with 10 times faster issue resolution through monitoring as code. Quick detection, less downtime, happier customers, their claim for fame. Then Finn Hensel, founder and CEO of Sanity Group, who was awarded the Entrepreneur of the Year Award in 2021.


Has once again proven that his fundraising prowess in the cannabis industry is really big We had the pleasure of interviewing him after his latest achievement and not 13. Sorry a 17 million euro deal with organic rum holdings Yeah, and you can read more about how his deal marks the beginning of a new era for cannabis in And we have a full -on interview with him Berlin's family fintech at bling


Christian (41:03.352)

secures $12 million in Series A, and they want to simplify finances and mobile plans for families. Partnerships, they emphasize strong partnerships and are on a mission to ease parents' lives. Munich -based Biomatter secures 6 .5 million euros in seed funding to power its generative AI platform. They are working on enzyme development for industries from medicine to agriculture.


So a startup working in bio innovation and biotech. VARM secures 5 .7 million euros seed funding to revolutionize insulation and drive decarbonization in Europe. Big problem when it comes to climate change, we have so often just looking for mobility, but buildings are also losing a lot of energy and creating a huge problem.


when it comes to carbon emissions. So Varm's mission is to insulate one million homes in 10 years. They want to start in Germany and now got money for that. And Katjes just took a bigger bite of the breakfast game. Katjes is a German sweet and candy company because now they increase their stake in Maimüsli to 56%. Maimüsli, big


German startup success story basically allowing you to individualize your granola in the morning. And yeah, so I guess it's an investment that makes sense for Katjes. Nothing newsworthy we found over the whole summer in Austria. They were all at the beautiful lakes in Carinthia, I guess. But some more stuff from Switzerland. We found big win for Biotech.


Astenoron A -S -C -E Neuron closes $100 million Series C round to push their Alzheimer's drug ASN51 into phase two trials. So yeah, obviously huge hopes in that field in order to lessen the load of a deadly disease. With top investors now on board, the future of neurodegenerative treatment looks a bit more promising.


Christian (43:24.152)

Then Zouix La Quera just raised 18 .4 million euros, 20 million dollars to secure JN -AI apps. Because in the AI world, security isn't just an option, it's a necessity as they say. And Zouix based Libation, L -O -L -I -B -A -T -I -O All these names guys, come on. Please don't mock us. Find better names. L -I -B -A -T -T -I -O -N.


Wanting to be a leader in upcycled energy storage, they raised 14 million euros to decarbonize that industry. Zintara, a Zurich -based semiconductor innovator, raised $11 million, led by V -Squared Ventures. With the money, they want to launch their patent -pending ComputeRAM for embedded computing. Limatech scores a 10 million euro win partnering with


with Valneva to fast -track the world's most advanced shingella vaccine. So also hoping for medtech innovation there. And Swiss health tech startup Sanos raises 7 million euros led by Google Ventures and ParTech to expand its dental platform, Roger. They're working in patient management.


Joe (44:50.933)

That was a wrap. Chris, did you notice that the creative destruction is getting shorter and shorter by now? And the fundraising is getting longer again, even though we totally cut a lot out here. I see there's a good sign and hope the economy does not go as bad as it looks right now.


Christian (45:10.423)

on the floor.


Joe (45:11.495)

yes, and we do have a lot of stay ahead of the curve. We have a new feedback form. Please give us feedback. This one is not only for Celebrate .io in general, but you can also give feedback on the individual episodes. There is also an option to contact and follow both of us on LinkedIn and Twitter. Guys, thank you very much, Chris. We may tell the audience that it's now one and a half hours after we originally wanted to start.


our news recording and we're recording now for more than 45 minutes. Guys, it was a pleasure. Thank you very much. We will be back Chris and I together with the next news on October 3rd. Thank you very much and have a good day. Bye bye.


Christian (45:53.176)

Bye bye.

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