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- WEBVTT 1 00:00:00.640 --> 00:00:04.019 By the way, Chris, do you have any fancy, Thanksgiving 2 00:00:04.160 --> 00:00:07.600 traditions since you I I do believe that's your 10th 3 00:00:07.600 --> 00:00:11.040 10th year in New York City. Right? Oh, 4 00:00:11.040 --> 00:00:14.295 11. 11? Yeah. Oh, congratulations, 5 00:00:14.594 --> 00:00:17.974 man. Any cool traditions there? 6 00:00:19.715 --> 00:00:23.474 You know, I was usually invited to a family, but 7 00:00:23.474 --> 00:00:26.994 so far the invite hasn't come in 2 days before Thanksgiving. So I'm not 8 00:00:26.994 --> 00:00:29.340 gonna like, I'm not gonna talk about it. 9 00:00:31.160 --> 00:00:35.000 We will see. But I have, Friendsgivings going on. That is 10 00:00:35.000 --> 00:00:38.840 cool. By the way, we're going back to the roots. I have done a 11 00:00:38.840 --> 00:00:42.460 lot of early podcasts with a, cup of peppermint 12 00:00:42.520 --> 00:00:46.355 tea, and I'm going back to this. Chris, I do believe we're 13 00:00:46.355 --> 00:00:50.115 here for this month in GSA Startup November 2024, and 14 00:00:50.115 --> 00:00:53.415 you are the one who takes the lead. Right? So let's go. 15 00:00:54.195 --> 00:00:57.470 Welcome to our new, November 16 00:00:57.610 --> 00:01:01.390 2024 wrap up with news from the startup and tech entrepreneurship 17 00:01:01.530 --> 00:01:05.209 scenes in Germany, Austria, and Switzerland. Our startup 18 00:01:05.209 --> 00:01:08.650 news are recorded with me, Chris, in New York 19 00:01:08.650 --> 00:01:12.395 City, back from a Europe trip, only yesterday. 20 00:01:13.015 --> 00:01:16.854 So, my mind is all over the place in terms of 21 00:01:16.854 --> 00:01:20.235 time. And Joe is joining from Frankfurt 22 00:01:20.375 --> 00:01:23.814 officially. Hello, my friend. Hey. How are you doing, 23 00:01:23.814 --> 00:01:27.210 guys? Today's news cut is 24 00:01:27.210 --> 00:01:30.890 November 20th. This month, we cut a bit a 25 00:01:30.890 --> 00:01:34.729 bit earlier for three reasons. Number 1, there are a lot of news. Number 2, 26 00:01:34.729 --> 00:01:38.445 our next news will be published shortly before Christmas. So 27 00:01:38.445 --> 00:01:41.265 this is then only around, 4 weeks away. 28 00:01:42.205 --> 00:01:45.645 Everyone is in the final sprint of the year. And 29 00:01:45.645 --> 00:01:49.325 3, due to travel plans. As always, though, all news not 30 00:01:49.325 --> 00:01:53.120 included will be in our next news wrap up. News cycle is 31 00:01:53.120 --> 00:01:56.560 picking up considerably. Last month, we plowed through 20 pages of raw, 32 00:01:56.560 --> 00:02:00.240 unstructured news we had collected, and, now we 33 00:02:00.240 --> 00:02:04.080 have 36 pages to go through. And, it 34 00:02:04.080 --> 00:02:07.655 will be a surprise for you listeners how many of them 35 00:02:07.655 --> 00:02:11.335 actually made it into the show. But we, needed to cut it 36 00:02:11.335 --> 00:02:14.775 seriously, so you can have a brief news overview. First of 37 00:02:14.775 --> 00:02:18.455 all, happy Thanksgiving to all of you who celebrate today. We were 38 00:02:18.455 --> 00:02:22.100 hinting at it already. For me, I know it has a problematic 39 00:02:22.319 --> 00:02:25.920 past and, history. But for me, being 40 00:02:25.920 --> 00:02:29.140 thankful makes it my most 41 00:02:29.280 --> 00:02:32.880 favorite holiday, actually. Yeah. That 42 00:02:32.959 --> 00:02:36.565 that's something I took with me as a tradition from the US, and 43 00:02:36.565 --> 00:02:40.165 it's actually very great, week to kick 44 00:02:40.165 --> 00:02:43.845 off, Christmas season. Plus, we do do on 45 00:02:43.845 --> 00:02:47.445 Friday a Thanksgiving turkey here in Germany with my family as 46 00:02:47.445 --> 00:02:51.170 well. Let's, there have been a few questions, 47 00:02:51.470 --> 00:02:55.230 a few outreaches to us. And so I would like to set 48 00:02:55.230 --> 00:02:59.070 our news in perspective a little bit. We're 49 00:02:59.070 --> 00:03:02.815 relying on other sources, mostly in Germany here that we 50 00:03:02.815 --> 00:03:06.175 put together and give you a brief overview in 30 minutes or less. That's our 51 00:03:06.175 --> 00:03:09.935 goal. We check those Switzerland, normally, sources like friendly 52 00:03:09.935 --> 00:03:13.615 Russian news spots does not make the cut. This also means we 53 00:03:13.615 --> 00:03:17.460 cannot cover everything, especially in a month where there's a lot of 54 00:03:17.460 --> 00:03:21.220 news. We have to drop articles and coverage. Yes. We have News piece 55 00:03:21.220 --> 00:03:24.840 and blog posts for us and other sources that contradict 56 00:03:25.060 --> 00:03:28.820 each other. This is unfortunately reality, and we're trying to give 57 00:03:28.820 --> 00:03:32.585 you a real picture of what is going on rather than a closed world 58 00:03:32.585 --> 00:03:36.345 view, especially in terms of VC numbers, IPO, and 59 00:03:36.345 --> 00:03:39.885 m and a volumes nor source ever matches the others. 60 00:03:40.425 --> 00:03:43.325 Yes. That is mapping for us as well. Right, Chris? 61 00:03:44.025 --> 00:03:47.720 Yes. With our own blog posts, we try to give you a 62 00:03:47.720 --> 00:03:51.180 broader view of the overall picture as well as 63 00:03:51.320 --> 00:03:55.000 with these news. Think about them as small piece of a bird's eye 64 00:03:55.000 --> 00:03:58.375 view, especially in our blog post that's where we try to cover 65 00:03:58.375 --> 00:04:02.135 something nobody else does, especially focused on GSA. With 66 00:04:02.135 --> 00:04:05.975 our regular Startup interview, we zoom in much further. This should 67 00:04:05.975 --> 00:04:09.735 give you a great piece of a great picture of what is 68 00:04:09.735 --> 00:04:13.569 going on in regional startup scene. And our news is just a 69 00:04:13.569 --> 00:04:17.089 starting point for all of you who are doing this 70 00:04:17.089 --> 00:04:20.930 for professional reasons and are serious about it. That's why we 71 00:04:20.930 --> 00:04:24.770 provide a source link. And also we know 72 00:04:24.770 --> 00:04:28.345 around 80% of you out there are 73 00:04:28.345 --> 00:04:32.025 listening to this for professional reasons. So, 74 00:04:32.025 --> 00:04:35.564 Chris, as always, you are our highlights guy. 75 00:04:36.185 --> 00:04:38.585 Yes. That is true. So, 76 00:04:40.030 --> 00:04:43.389 also, as always, we saw in the past couple of 77 00:04:43.389 --> 00:04:45.970 weeks, many significant 78 00:04:46.750 --> 00:04:50.590 challenges and breakthroughs in the countries that we covered, Germany, Austria 79 00:04:50.590 --> 00:04:53.949 and Switzerland. About a couple of them, we will talk a bit more 80 00:04:53.949 --> 00:04:57.715 in-depth. Let me just give you, like, a very brief overview about 81 00:04:57.715 --> 00:05:01.155 some of the highlights. First off, German air taxi 82 00:05:01.155 --> 00:05:04.854 pioneer Lilium filed for insolvency, underscoring 83 00:05:05.074 --> 00:05:08.775 the funding difficulties in the, electrical 84 00:05:09.400 --> 00:05:12.940 electric vertical takeoff and lending sector, while 85 00:05:13.400 --> 00:05:16.759 Volocopter navigated similar headwinds with a new CFO 86 00:05:16.759 --> 00:05:20.520 appointment. We see that Fintech giant Solaris is 87 00:05:20.520 --> 00:05:24.045 is reportedly exploring options to raise funds 88 00:05:24.045 --> 00:05:27.505 or sell itself after a sharp decline in user accounts. 89 00:05:28.205 --> 00:05:31.665 And, we also found more optimistic news. 90 00:05:32.525 --> 00:05:36.145 The, GSA region saw successes 91 00:05:36.445 --> 00:05:40.210 like Vienna's Cubicure achieving a €79,000,000 92 00:05:41.070 --> 00:05:44.290 exit and Berlin based Quentun Quentun 93 00:05:46.910 --> 00:05:50.510 raising a €135,000,000 to develop a 94 00:05:50.510 --> 00:05:54.164 variable device for diabetics. This is the 95 00:05:54.164 --> 00:05:57.145 worst sentence for, for German. 96 00:05:57.764 --> 00:06:00.985 Develop a wearable device for diabetics. 97 00:06:01.444 --> 00:06:05.044 Marking a step forward in text out of news Chris, I do my best to 98 00:06:05.044 --> 00:06:08.870 make it hard for you. V and 99 00:06:08.970 --> 00:06:12.610 w. After 11 years, it's still a struggle. As said before, we 100 00:06:12.610 --> 00:06:15.590 threw out most fundraising announcement announcements below €10,000,000 101 00:06:16.130 --> 00:06:19.910 or US dollars, but we still have almost a quarter 1,000,000,000 102 00:06:19.970 --> 00:06:23.365 in new funding in, this news update 103 00:06:23.505 --> 00:06:27.265 today. European Startup show continue to show 104 00:06:27.265 --> 00:06:30.705 resilience despite a challenging funding environment. We 105 00:06:30.705 --> 00:06:34.498 have Atomico's, Startup of European Tech 106 00:06:34.705 --> 00:06:38.170 2024, which says that the continent now hosts 107 00:06:38.170 --> 00:06:41.630 35,000 early stage Startup ups, a fourfold 108 00:06:41.930 --> 00:06:45.770 increase in the past Tech, and, putting cities like Berlin 109 00:06:45.770 --> 00:06:49.315 and Vienna on the map as global innovation hubs. Highlights this 110 00:06:49.315 --> 00:06:52.915 month include out of Alpha's AI partnership with Deutsche Bank and 111 00:06:52.915 --> 00:06:56.615 415 Capital's a €150,000,000 fund announcement 112 00:06:56.755 --> 00:07:00.355 for medical innovation. So, yeah, we see that Europe's 113 00:07:00.355 --> 00:07:03.575 influence in the Startup scene is growing. 114 00:07:04.860 --> 00:07:08.620 Investors are being attracted even in the middle of 115 00:07:08.620 --> 00:07:12.220 political and economic uncertainty. So let's 116 00:07:12.220 --> 00:07:15.199 get going for more with more updates. 117 00:07:15.979 --> 00:07:19.565 First off, though, you have some scheduling 118 00:07:20.185 --> 00:07:23.945 to announce. Yes. Expect the next news to drop every 119 00:07:23.945 --> 00:07:27.785 Thursday a month, and our last regular news episode will go 120 00:07:27.785 --> 00:07:31.590 live on December 19th. We 121 00:07:31.590 --> 00:07:35.349 have to take a little break during the holidays and be back around 122 00:07:35.349 --> 00:07:39.050 January 9th with the next news going live on January 123 00:07:39.189 --> 00:07:42.650 30th. There are only a few exceptions 124 00:07:42.789 --> 00:07:46.255 for, to this rule. They include the summer wrap up 125 00:07:46.255 --> 00:07:50.035 on Labor Day each year. 1st Monday is September 126 00:07:50.335 --> 00:07:54.175 where we wrap up July August. Chris, I do have a 127 00:07:54.175 --> 00:07:57.775 question for you. I'm already done with my Christmas present 128 00:07:57.775 --> 00:08:01.500 shopping even before the black week. How about you? Are you 129 00:08:01.500 --> 00:08:04.940 listening to this chopper? Nervous 130 00:08:04.940 --> 00:08:08.460 laughter on my end. Of course, I haven't shopped 131 00:08:08.460 --> 00:08:10.560 anything yet. And, 132 00:08:12.315 --> 00:08:15.995 yeah, what can I say? I all I'm saying is, I guess, it's different when 133 00:08:15.995 --> 00:08:19.755 you have children. On average, Germans will 134 00:08:19.755 --> 00:08:23.055 spend €533, something like 550, 135 00:08:24.075 --> 00:08:27.880 560 US dollars for all the Christmas presents according 136 00:08:27.940 --> 00:08:31.620 to a IDW study. Our 137 00:08:31.620 --> 00:08:35.380 podcast, video and audio will go live during different 138 00:08:35.380 --> 00:08:39.164 times on Thursday, November 29th. As always, we try to 139 00:08:39.324 --> 00:08:43.084 publish our, our audio podcast very early 140 00:08:43.084 --> 00:08:46.225 6 AM Germany time, and the 141 00:08:46.605 --> 00:08:49.745 video podcast goes live in, 142 00:08:50.605 --> 00:08:54.160 during noon. Our enablers, this recording is supported 143 00:08:54.160 --> 00:08:57.860 by HDI and the enterprise Europe network and, 144 00:08:59.360 --> 00:09:02.800 our partner Modern News where you can get 2 free SEO 145 00:09:02.800 --> 00:09:06.425 pieces a month. Chris, heading over to 146 00:09:06.425 --> 00:09:09.725 the top five news. Let's do it. 147 00:09:09.785 --> 00:09:13.464 So, I already hinted at it. 148 00:09:13.464 --> 00:09:16.205 Air taxis are still writing headlines, 149 00:09:16.920 --> 00:09:20.620 and, Volocopter got a reprieve with government funding. 150 00:09:21.320 --> 00:09:25.160 Lilium, though, in Germany did not and had News to fire had 151 00:09:25.160 --> 00:09:28.300 now had to file for insolvency 152 00:09:28.600 --> 00:09:32.265 now despite being IPOing and Nasdaq in the 153 00:09:32.265 --> 00:09:35.945 past. If you're reading between the lines here, it seems as if 154 00:09:35.945 --> 00:09:39.385 funding for both has dried up a bit, and Volocopter has treated its early 155 00:09:39.385 --> 00:09:42.950 backers badly enough. So that crowdfunding 156 00:09:43.250 --> 00:09:47.090 may not be an option right now. You can be sure, though, that Lilium 157 00:09:47.090 --> 00:09:50.530 also took a look at issuing new shares, but had to decide against 158 00:09:50.530 --> 00:09:54.290 it. So yeah. I mean, it's still, like, a wild sector 159 00:09:54.290 --> 00:09:57.435 to me because no one really knows when it will finally 160 00:09:58.215 --> 00:10:01.275 take off. But, still, 161 00:10:03.175 --> 00:10:06.695 yeah, I don't know. It seems like it seems like it's also an 162 00:10:06.695 --> 00:10:10.360 industry that is so much connected to the the 163 00:10:10.360 --> 00:10:13.899 times we live in and probably with so much criticism 164 00:10:13.959 --> 00:10:17.720 against airlines in general in terms of climate change. How big is the 165 00:10:17.720 --> 00:10:21.560 hunger actually for these, like, you know, for for 166 00:10:21.560 --> 00:10:24.964 these kind of of companies? Volocopter 167 00:10:25.105 --> 00:10:27.925 also considered a SPAC deal that fell through in 2021. 168 00:10:28.704 --> 00:10:32.384 So, yeah, we really see that both companies are struggling to get funding 169 00:10:32.384 --> 00:10:35.444 for their the air taxi plans to get to mass production. 170 00:10:35.985 --> 00:10:39.710 And, yeah, on top of it all is that 171 00:10:40.090 --> 00:10:43.790 that way of transportation is not really, really approved 172 00:10:43.850 --> 00:10:47.610 yet anywhere else. So, or anywhere. So it's a tough 173 00:10:47.610 --> 00:10:51.305 job. But, yeah, since we are the hopeful podcast 174 00:10:51.305 --> 00:10:54.524 here, we obviously appreciate them fighting 175 00:10:54.825 --> 00:10:56.764 on for their big dream. 176 00:10:58.904 --> 00:11:02.505 Lilium, as we said, filed for insolvency amid financial 177 00:11:02.505 --> 00:11:05.770 struggles. We have some more, in-depth 178 00:11:05.910 --> 00:11:09.510 analyses in our show notes about this. The German air 179 00:11:09.510 --> 00:11:13.350 taxi manufacturer, had several unsuccessful attempts 180 00:11:13.350 --> 00:11:16.915 to resolve its cash crisis, despite their plans to 181 00:11:16.915 --> 00:11:20.215 revolutionize urban travel with the 182 00:11:20.915 --> 00:11:24.755 eVTOL aircrafts. The company, faced 183 00:11:24.755 --> 00:11:28.510 significant funding challenges and regulatory hurdles. The 184 00:11:28.510 --> 00:11:30.930 shares have plummeted. The anticipated €100,000,000 185 00:11:31.950 --> 00:11:35.550 loan from German state owned bank KFW was 186 00:11:35.550 --> 00:11:39.070 blocked, and that further exacerbated their 187 00:11:39.070 --> 00:11:42.905 financial woes. They are also looking for 188 00:11:42.905 --> 00:11:45.785 investors in Saudi Arabia now, it seems. And, 189 00:11:47.465 --> 00:11:50.905 they also face a potential class action lawsuit in the 190 00:11:50.905 --> 00:11:54.425 US. Investors are alleging that they were 191 00:11:54.425 --> 00:11:58.150 misled about the company's financial health and technological 192 00:11:58.290 --> 00:12:02.130 capabilities. So, yeah, we also see that they have legal 193 00:12:02.130 --> 00:12:05.430 challenges moving forward, which definitely makes 194 00:12:05.570 --> 00:12:09.330 funding even harder. Volokopter, though, 195 00:12:09.330 --> 00:12:12.710 on the other hand, I already said it, appointed a new CFO 196 00:12:13.065 --> 00:12:16.665 in the middle of all these industry challenges. His name is 197 00:12:16.665 --> 00:12:20.505 Oliver Fogelgesang. It's a strategic move that 198 00:12:20.505 --> 00:12:24.265 the, company uses to navigate landscape in urban air 199 00:12:24.265 --> 00:12:27.670 mobility, because also, obviously, this 200 00:12:27.670 --> 00:12:31.270 guy needs to, strengthen the financial leadership within the 201 00:12:31.270 --> 00:12:35.050 company and also secure necessary funding and uphill battle 202 00:12:35.110 --> 00:12:38.630 there too, definitely. Moving on to a different 203 00:12:38.930 --> 00:12:42.345 Austria, Aleph Alpha partners with Deutsche Bank to enhance 204 00:12:42.404 --> 00:12:46.105 AI capabilities. Aleph Alpha being a leading AI 205 00:12:46.105 --> 00:12:49.845 Startup up, now in that strategic partnership with, like, a very 206 00:12:49.845 --> 00:12:53.459 traditional German bank. I guess in 207 00:12:53.459 --> 00:12:57.160 the eighties or seventies, you would say this is like the epitome of German 208 00:12:57.620 --> 00:12:59.399 industrial and and and, 209 00:13:01.060 --> 00:13:04.820 company pride. The collaboration aims to leverage all 210 00:13:04.820 --> 00:13:08.415 of Alpha's advanced AI models to enhance the bank's 211 00:13:08.415 --> 00:13:11.935 services, particularly in natural language processing and a data 212 00:13:11.935 --> 00:13:15.774 analysis. So, they're looking to make significant 213 00:13:15.774 --> 00:13:19.235 steps in integrating AI into the, financial 214 00:13:19.970 --> 00:13:23.350 services of a big traditional company like 215 00:13:23.650 --> 00:13:27.090 Deutsche Bank. Zolavers, the, 216 00:13:27.250 --> 00:13:30.930 Berlin based Tech firm, has experienced a significant decline in 217 00:13:30.930 --> 00:13:34.395 its account numbers, dropping from nearly 8,000,000 during high times 218 00:13:34.475 --> 00:13:37.695 to now only approximately 2,000,000 at last disclosure. 219 00:13:38.475 --> 00:13:42.075 So basically losing 75% of the customers. The 220 00:13:42.075 --> 00:13:45.595 reduction is primarily due to the loss of major 221 00:13:45.595 --> 00:13:49.150 clients, including Trade Republic and Vivid Money. They have 222 00:13:49.150 --> 00:13:52.290 transitioned to other banking partners. But despite the setback, 223 00:13:52.590 --> 00:13:56.050 Solaris remains committed to its banking as a service model, 224 00:13:56.270 --> 00:13:59.710 focusing on partnerships and technological innovation to regain its 225 00:13:59.710 --> 00:14:03.334 market's position. The company is actively seeking new collaborations 226 00:14:03.634 --> 00:14:07.255 to expand its service offerings and enhance customer experience. 227 00:14:08.675 --> 00:14:12.454 Yeah. They are either raising funds or selling the bank outright. 228 00:14:12.755 --> 00:14:15.930 So it's a bit of a troubled story here, 229 00:14:17.029 --> 00:14:19.610 leading to a bigger 230 00:14:20.390 --> 00:14:23.850 scope where we can see that also 231 00:14:24.390 --> 00:14:28.145 the, political scene offers or 232 00:14:28.145 --> 00:14:31.985 provides uncertainty for Startup in Germany because the, German 233 00:14:31.985 --> 00:14:35.125 coalition government collapsed, as many of you might know. 234 00:14:35.745 --> 00:14:38.970 Basically, the Germans woke up the day after the, 235 00:14:39.450 --> 00:14:43.050 US election to Donald Trump winning the election, and they 236 00:14:43.050 --> 00:14:46.649 went to bed with their own government falling apart. That was 237 00:14:46.810 --> 00:14:50.505 must have been quite a wild Wednesday for the Germans. 238 00:14:51.625 --> 00:14:55.305 And now we see that the end of that coalition government, which was 239 00:14:55.305 --> 00:14:58.985 the Social Democratic Party, the Green Startup, and the, Pro 240 00:14:58.985 --> 00:15:02.505 Business Liberal Party, that this end of this 241 00:15:02.505 --> 00:15:06.285 coalition introduced a significant uncertainty as experts 242 00:15:06.740 --> 00:15:10.120 anticipate delays in funding programs like the €12,000,000,000 243 00:15:11.220 --> 00:15:14.980 win initiative, which was potentially could 244 00:15:14.980 --> 00:15:18.660 be postponed until 2026. This 245 00:15:18.660 --> 00:15:22.345 also obviously disrupts financial planning and growth prospects for emerging 246 00:15:22.345 --> 00:15:25.865 companies, and it underscores the need for a stable 247 00:15:25.865 --> 00:15:29.305 government to foster innovation and economic development. So 248 00:15:29.305 --> 00:15:32.525 troubling times here as well or turbulent times at least. 249 00:15:33.225 --> 00:15:36.285 Those are the big stories that we have. 250 00:15:36.585 --> 00:15:40.370 Let's talk about ourselves. Yeah. I do believe that's 251 00:15:40.370 --> 00:15:44.209 also a big point in, we will later see that the business 252 00:15:44.209 --> 00:15:47.569 climate also took another dive. I do believe this 253 00:15:47.569 --> 00:15:51.355 uncertainty and that there is currently no government in 254 00:15:51.355 --> 00:15:55.035 full power right News. We'll have an election, I do believe, in February. Right, 255 00:15:55.035 --> 00:15:58.875 Chris? Sometime in February. Tech. Because the Liberal Startup left a 3 256 00:15:58.875 --> 00:16:02.635 party ruling coalition. And, you can really tell 257 00:16:02.635 --> 00:16:06.480 that the the economy would be in need now of a 258 00:16:06.480 --> 00:16:10.240 government funded stimulus program. But since they don't have a 259 00:16:10.240 --> 00:16:14.000 majority any anymore, that is going to be a pretty bad winter, 260 00:16:14.000 --> 00:16:17.760 I do believe. Housekeeping and time to brag. We are 261 00:16:17.760 --> 00:16:21.535 dissecting Atomico's report report state of European 262 00:16:22.011 --> 00:16:25.835 Tech 2024. It has a mere 263 00:16:25.835 --> 00:16:29.675 366 pages, and we're currently crafting a series of 264 00:16:29.675 --> 00:16:33.435 posts on our blog to give you the most important information in bite 265 00:16:33.435 --> 00:16:36.529 sized pieces. We found a pretty high level, 266 00:16:37.230 --> 00:16:41.069 article on FA set, Frankfurt, Algemeine Zeitung, one of 267 00:16:41.069 --> 00:16:44.829 Germany most circulated newspapers. I would say this 268 00:16:44.829 --> 00:16:48.645 is a translation. The future might look brighter for Europe according to state of 269 00:16:48.885 --> 00:16:52.565 European Tech reported by Atomico. The report highlights that 270 00:16:52.565 --> 00:16:56.025 Europe's currently boast that Europe currently boasts 35,000 271 00:16:56.965 --> 00:17:00.645 early stage tech Startup ups more than any other 272 00:17:00.645 --> 00:17:04.480 region worldwide. This is a fourfold increase over the past decade. 273 00:17:04.480 --> 00:17:08.240 More entrepreneurs have launched in new startups in Europe than in the 274 00:17:08.240 --> 00:17:12.020 US. 2024, 16,000 275 00:17:12.320 --> 00:17:16.000 individual founders were found in Europe. For the 276 00:17:16.000 --> 00:17:19.714 report, There's also significant progress in Startup funding at 277 00:17:19.714 --> 00:17:23.555 least in the early stage. In 2015, London was the only city in the 278 00:17:23.555 --> 00:17:27.155 global top Tech start up hubs by funding race for early 279 00:17:27.155 --> 00:17:30.630 stage start ups. This year, London has claimed the 2nd place 280 00:17:30.630 --> 00:17:34.390 globally with Berlin and Paris joining the top Tech. According 281 00:17:34.390 --> 00:17:38.230 to Atomico, Europe's investment in Startup are growing faster 282 00:17:38.230 --> 00:17:41.990 than in any other region. Over the past decade, the 283 00:17:41.990 --> 00:17:45.705 average annual growth rate of Startup funding in Europe has been 284 00:17:45.705 --> 00:17:49.145 13% by comparison. The US saw an average growth of 285 00:17:49.145 --> 00:17:52.365 8% and China lacked with just 2%. 286 00:17:53.785 --> 00:17:57.145 They also are pretty upbeat. Atomico rights, we're seeing more 287 00:17:57.145 --> 00:18:00.659 startups, more ambitious ideas built to solve harder 288 00:18:00.659 --> 00:18:04.440 problems. The overall universe of companies has grown 4.7 289 00:18:04.980 --> 00:18:08.419 times in the last decade, with as many 290 00:18:08.419 --> 00:18:11.799 early stage companies as any other 291 00:18:12.100 --> 00:18:15.405 any other region and a eightfold increase in growth 292 00:18:15.465 --> 00:18:19.225 stage firms. As we said, have a look at our blog. I do 293 00:18:19.225 --> 00:18:22.525 believe we're currently at a stage where this is dissected into, 294 00:18:23.385 --> 00:18:26.845 16 different blog posts. If you're interested 295 00:18:27.100 --> 00:18:30.860 working with us, reach out, subscribe, and follow on our 296 00:18:30.860 --> 00:18:34.080 link Switzerland I hand over the ecosystem to Chris again. 297 00:18:35.019 --> 00:18:38.779 I feel as if I get to do all the good parts today. So, 298 00:18:39.100 --> 00:18:42.745 first off, let's look at, worldwide the worldwide 299 00:18:42.745 --> 00:18:46.585 ecosystem for Startup ups. We found a couple 300 00:18:46.585 --> 00:18:50.345 of articles and analyses there that we think are worth talking 301 00:18:50.345 --> 00:18:53.865 about. Forbes.com, for example, writes about the 302 00:18:53.865 --> 00:18:57.380 question or asks the question if the, 303 00:18:57.840 --> 00:19:01.540 software as a service era might be ending, 304 00:19:02.560 --> 00:19:06.340 the, article is about rethinking software's 305 00:19:06.400 --> 00:19:10.015 role in modern business. Sifted has a couple 306 00:19:10.015 --> 00:19:13.775 of VC predictions for the Q4 of 2024, which we're 307 00:19:13.775 --> 00:19:17.475 right in the middle of. What Startup and investors 308 00:19:17.615 --> 00:19:20.975 need to know, you can find the link in our show notes. Then we have 309 00:19:20.975 --> 00:19:24.260 the 3rd annual ESGF ESG Fintech, 310 00:19:24.960 --> 00:19:28.500 100 highlights. Sorry. 311 00:19:28.640 --> 00:19:32.000 The 3rd annual ESG Fintech 100, which 312 00:19:32.000 --> 00:19:35.520 highlights innovators transforming sustainability in 313 00:19:35.520 --> 00:19:39.184 finance. And we see the Global VC investments 314 00:19:39.184 --> 00:19:42.085 in impact Startup fell by 25%. 315 00:19:43.265 --> 00:19:46.945 It's a tough year for sustainable innovation, it seems. And, 316 00:19:47.345 --> 00:19:51.184 Pioneers Post has a bit more about that. Zooming in 317 00:19:51.184 --> 00:19:54.520 on Europe, deep tech, opportunities 318 00:19:55.380 --> 00:19:59.060 are showing there. Deep Tech innovations in Europe hold 319 00:19:59.060 --> 00:20:01.880 a €9,300,000,000,000 potential, 320 00:20:03.140 --> 00:20:06.895 says an article in trending topics. Question is, are we ready 321 00:20:06.895 --> 00:20:10.735 to unlock it? The European Space Deep 322 00:20:10.755 --> 00:20:14.575 Tech Innovation Center is here. An 323 00:20:14.575 --> 00:20:18.390 article about this is on Startup, so 324 00:20:18.390 --> 00:20:21.830 in Switzerland. And, VC funding for Tech in 325 00:20:21.830 --> 00:20:25.510 Europe seems to be going quite well. They hit a 326 00:20:25.510 --> 00:20:28.950 record, number this year, so women's health 327 00:20:28.950 --> 00:20:32.470 innovation seems to be thriving. Zooming even 328 00:20:32.470 --> 00:20:36.235 further in Germany, Munich is becoming 329 00:20:36.235 --> 00:20:39.915 Europe's hub for investor education, shaping the future of 330 00:20:39.915 --> 00:20:43.295 funding, says Wiesseemagat Sinpunkt. De. 331 00:20:44.475 --> 00:20:48.015 Germany's economic advisers predict a challenging year ahead. 332 00:20:48.235 --> 00:20:51.910 Question remains is if Startup can weather the storm. 333 00:20:52.450 --> 00:20:55.810 So, yeah, the German 334 00:20:55.810 --> 00:20:59.570 economic outlook being still being rather grim and the Germany 335 00:20:59.570 --> 00:21:03.090 economy in general having much more trouble than 336 00:21:03.090 --> 00:21:06.905 other industrialized western countries. We should we 337 00:21:06.905 --> 00:21:10.125 may add that, this, forecast is from the, 338 00:21:10.665 --> 00:21:14.505 like, economic adviser council of the Germany federal 339 00:21:14.505 --> 00:21:17.970 government. So, yeah, smartest people we have 340 00:21:18.210 --> 00:21:21.909 for the these questions, probably Yep. Apart from you. 341 00:21:23.330 --> 00:21:26.950 And, related to this is also, 342 00:21:27.570 --> 00:21:31.215 the e for business climate index that we talk about in each 343 00:21:31.294 --> 00:21:35.135 of our shows. Sentiment there is that companies in 344 00:21:35.135 --> 00:21:38.414 Germany feel even heavier, so the, 345 00:21:38.735 --> 00:21:42.355 outlook has become gloomier, and the index fell from 85.7 346 00:21:43.135 --> 00:21:46.480 fell to 85.7 points down from 86.5 347 00:21:46.940 --> 00:21:50.480 points in October. German Startup formation 348 00:21:50.940 --> 00:21:54.380 declines, so meaning fewer startups founded in, 349 00:21:55.260 --> 00:21:58.575 are founded in Germany right now. Question is, what 350 00:21:58.654 --> 00:22:01.394 can rejuvenate the ecosystem in 2025, 351 00:22:02.255 --> 00:22:05.635 says hanersblatt.com. Business 352 00:22:05.774 --> 00:22:09.215 Insider has a an article in 353 00:22:09.215 --> 00:22:12.434 which experts predict a surge in IPOs, 354 00:22:13.970 --> 00:22:15.750 for next year. So, 355 00:22:17.810 --> 00:22:21.490 well, like, where they raise the question. So question is, are start ups 356 00:22:21.490 --> 00:22:25.270 ready to go public? Tech Parks 357 00:22:25.410 --> 00:22:29.085 in Germany are the subject of an article on 358 00:22:29.085 --> 00:22:32.765 transcript.de and their need to have 359 00:22:32.765 --> 00:22:36.605 their own ecosystem. So, in to 360 00:22:36.605 --> 00:22:39.825 thrive. We see that unicorn 361 00:22:39.965 --> 00:22:43.710 sightings dwindle as market valuations adjust, 362 00:22:43.710 --> 00:22:47.409 says, Ephardzet. So the, biggest conservative 363 00:22:47.630 --> 00:22:51.470 newspaper in Germany, question there that they raise is 364 00:22:51.470 --> 00:22:53.890 if the Startup bubble might be deflating. 365 00:22:55.265 --> 00:22:58.945 And in Lower Saxony, Germany is 366 00:22:58.945 --> 00:23:02.404 getting especially in Lower Saxony, Germany is getting into the 367 00:23:03.105 --> 00:23:06.325 weed business. The first legal cannabis distribution 368 00:23:07.025 --> 00:23:10.309 begins there. Yeah. And 369 00:23:10.690 --> 00:23:14.370 everyone is wondering. So it's pretty heavily regulated, but 370 00:23:14.370 --> 00:23:16.950 everyone is wondering whether this can become a 371 00:23:18.769 --> 00:23:22.370 relevant business. And we would like to highlight Munich 372 00:23:22.370 --> 00:23:25.955 here. Yeah. Since we said they have 373 00:23:25.955 --> 00:23:29.495 a, investor training hub, 374 00:23:29.795 --> 00:23:33.555 I would say we cut this, please, because we have it up front. 375 00:23:33.555 --> 00:23:37.200 It's twice. Yeah. Okay. So, yeah. 376 00:23:37.200 --> 00:23:40.960 Okay. That's also twice. Yeah. That's 377 00:23:40.960 --> 00:23:44.240 also twice. Okay. Okay. So then I will just 378 00:23:45.200 --> 00:23:48.560 yeah. So then I will just after the cannabis, I will just say 379 00:23:48.560 --> 00:23:51.685 this. And that's it for the ecosystem. 380 00:23:51.985 --> 00:23:55.525 Now, you can move on and talk about 381 00:23:55.665 --> 00:23:59.345 some of the most important hubs and what's going on in specific cities 382 00:23:59.345 --> 00:24:02.399 in Germany. Mhmm. Talking about, 383 00:24:02.799 --> 00:24:06.480 highlighting some hidden gems here. Frankfurt Rein 384 00:24:06.480 --> 00:24:09.539 MainScavenger AI has already made significant, 385 00:24:10.879 --> 00:24:14.414 headlines here. They've been also guest with us, and they land 386 00:24:14.414 --> 00:24:17.794 some major clients for its innovative software. Learn more 387 00:24:18.015 --> 00:24:21.554 atkodkasten.com Tech in the interview from 388 00:24:21.855 --> 00:24:24.595 us. I Voca, raises £200,000,000 389 00:24:25.615 --> 00:24:29.250 funding with German headquarters in Frankfurt, to 390 00:24:29.250 --> 00:24:32.770 support small businesses with flexible financing. So that means their 391 00:24:32.770 --> 00:24:36.230 headquarters in London and their German headquarter is in Frankfurt. 392 00:24:36.290 --> 00:24:39.890 SME get get a boost. The company has 400 employees spread 393 00:24:39.890 --> 00:24:43.695 across London and Frankfurt. Emma Mattresses. Yes. 394 00:24:43.695 --> 00:24:47.235 Known from our interviews. UK regulators use 395 00:24:47.695 --> 00:24:50.835 matcher, Emma Mattress Startup for misleading 396 00:24:51.295 --> 00:24:55.055 marketing transparency in advertising is 397 00:24:55.055 --> 00:24:58.730 under scrutiny there. And we do have oop. 398 00:24:58.950 --> 00:25:02.390 Hang on. We do have the Dutch News bank, Bank News offers 399 00:25:02.390 --> 00:25:06.070 equity trading. The block, Finance Forward learned that the custody 400 00:25:06.070 --> 00:25:09.794 feature is made possible by Frankfurt based Jinmon in the 401 00:25:09.794 --> 00:25:13.255 background. Burden based analytics packs €8,000,000 402 00:25:14.995 --> 00:25:18.755 interestingly, we just had an interview with them last week. We talked 403 00:25:18.755 --> 00:25:22.195 before the interview about the, fundraising, but we could 404 00:25:22.195 --> 00:25:25.890 not, we could not tell about it because it was not 405 00:25:25.890 --> 00:25:29.570 announced yet. So it's not part of the interview. Passau, my 406 00:25:29.570 --> 00:25:33.170 muesli, what would you say? Is there an 407 00:25:33.170 --> 00:25:36.950 equivalent in US? It's basically, putting together your 408 00:25:37.650 --> 00:25:40.784 favorite breakfast cereals. Their valuation 409 00:25:41.005 --> 00:25:44.605 plummeted to €30,000,000, which is pretty good 410 00:25:44.605 --> 00:25:47.825 because many Startup would aspire to be valued at €30,000,000. 411 00:25:48.524 --> 00:25:51.885 But a former stock market hopeful was rumored at a 412 00:25:51.885 --> 00:25:55.570 250 million valuation at 413 00:25:55.570 --> 00:25:59.170 the IPO. So that is quite a drop. Lehr 414 00:25:59.170 --> 00:26:03.010 in Oost Friesland. Chris, how to explain Oost 415 00:26:03.010 --> 00:26:06.850 Friesland? It's on, on the very northern it's on the shores of 416 00:26:06.850 --> 00:26:10.645 Germany of the North Sea. Right? It's it's it's pretty flat. 417 00:26:11.105 --> 00:26:14.885 It's it's very flat. And, actually, a very good friend of mine teaches 418 00:26:14.945 --> 00:26:16.965 business at their, university. 419 00:26:18.945 --> 00:26:22.645 Okay. Industrial software firm, Futero, acquires 420 00:26:22.705 --> 00:26:26.270 Orga Data, signaling a new growth in the sector. 421 00:26:26.270 --> 00:26:30.030 Chris, you are the Austria guy. Yes. So, 422 00:26:30.350 --> 00:26:33.490 also a couple of hub news 423 00:26:34.750 --> 00:26:38.290 in Austria. I already spoke about Cubicure 424 00:26:39.145 --> 00:26:42.825 because they had a €79,000,000 exit. It's a Vienna 425 00:26:42.825 --> 00:26:45.645 based 3 d printing Startup. And, 426 00:26:46.585 --> 00:26:50.205 yeah. So congratulations to them. 427 00:26:51.304 --> 00:26:54.450 That's quite a significant number. We see that, 428 00:26:55.649 --> 00:26:59.269 the, a medtech company in 429 00:27:00.210 --> 00:27:02.230 Steyr, an Austrian 430 00:27:06.049 --> 00:27:09.544 state. Good lord. Looking for the word. So, the 431 00:27:09.560 --> 00:27:13.085 Austria Tech company filed for insolvency with €16,000,000 432 00:27:13.865 --> 00:27:17.705 in debt. Quite a blow for the health tech sector 433 00:27:17.705 --> 00:27:21.480 there. We see that Bitpanda is exploring a potential 434 00:27:21.539 --> 00:27:25.299 Frankfurt IPO. It's, Bitpanda, as a little reminder, 435 00:27:25.299 --> 00:27:28.760 is an Austrian crypto company. And 436 00:27:29.140 --> 00:27:32.520 we see that the green Startup center that 437 00:27:33.375 --> 00:27:35.475 Austria opened a green start up center 438 00:27:37.295 --> 00:27:40.995 in Leopin. Leopon. 439 00:27:41.695 --> 00:27:44.815 I have to apologize if any Austrians are listening, and I don't know how to 440 00:27:44.815 --> 00:27:48.370 pronounce their city. Chris, don't worry about it. You you told us you're 441 00:27:48.370 --> 00:27:52.050 still jet lagged. Yes. No 442 00:27:52.050 --> 00:27:55.810 particular news from Switzerland now, but we will get to get back to a 443 00:27:55.810 --> 00:27:59.650 couple of big fundings there later on because now we are moving on to 444 00:27:59.650 --> 00:28:03.232 the general news section, with VC News 445 00:28:03.375 --> 00:28:07.075 and new funds in case someone is looking for a for money. 446 00:28:07.455 --> 00:28:11.294 As always, justice election. We already talked 447 00:28:11.294 --> 00:28:14.835 about that Germany sees a decline in active start up investors. 448 00:28:16.330 --> 00:28:20.029 We see that Berlin's, start up scene faces 449 00:28:20.809 --> 00:28:24.429 also venture capital shake up. Question is 450 00:28:24.649 --> 00:28:28.010 here how to evolve how to navigate that evolving investment 451 00:28:28.010 --> 00:28:31.070 landscape. Manager Margot Zinn has an article about this. 452 00:28:32.865 --> 00:28:36.705 Nico Rosberg, former Formula 1 driver, his 453 00:28:36.705 --> 00:28:40.485 venture fund is investing in Tourlane and MetKitDOG. 454 00:28:42.625 --> 00:28:45.670 We have couple of articles about this. And, 455 00:28:46.070 --> 00:28:49.830 Impact VC is expanding into Germany. They are launching a, 456 00:28:50.150 --> 00:28:53.930 an own chapter pushing sustainable develop sustainable investing 457 00:28:54.550 --> 00:28:57.930 there. And 415 or 415 Capital 458 00:28:59.255 --> 00:29:02.695 announced a €150,000,000 Tech fund to 459 00:29:02.695 --> 00:29:05.915 support, breakthrough innovation in 460 00:29:06.458 --> 00:29:09.832 Tech. Moving on to green Tech. 461 00:29:10.375 --> 00:29:14.080 Yes. Chris, I hear sirens in the background. I know. Of 462 00:29:14.080 --> 00:29:17.600 the hook for the bagel today. The new mic can't to hide 463 00:29:17.600 --> 00:29:20.960 it. BASF to build the world's 464 00:29:20.960 --> 00:29:24.419 largest heat pump pushing the boundaries of sustainable 465 00:29:24.799 --> 00:29:28.345 energy. Going to the Tech News as was said, Bitpanda 466 00:29:28.405 --> 00:29:31.785 considers an IPO in Frankfurt this time. N26 467 00:29:32.165 --> 00:29:34.345 revenue milestone, they hit €440,000,000 468 00:29:36.485 --> 00:29:40.236 in revenue, but still keep growing. Tech, 469 00:29:40.740 --> 00:29:44.260 Cupix, raises €25,000,000 from Tech, the Fintech 470 00:29:44.260 --> 00:29:47.780 accounts, also Deutsche Bank amongst its investors, and 471 00:29:47.780 --> 00:29:51.240 finance.net sold including News broker. 472 00:29:51.815 --> 00:29:55.495 Finanzen.net, the website sold including its News broker 473 00:29:55.495 --> 00:29:59.255 by Axel Springer in a strategic shift in fintech. According to 474 00:29:59.255 --> 00:30:02.395 the report, the transaction is valued around €400,000,000. 475 00:30:04.260 --> 00:30:08.020 Trade Republic expands, they're exploring new 476 00:30:08.020 --> 00:30:11.400 opportunities, launch a crypto app, Alpha Link, 477 00:30:11.860 --> 00:30:15.480 and RightCapital struggles, file for insolvency. 478 00:30:16.020 --> 00:30:19.240 They struggle to find new investors to keep operating. 479 00:30:20.014 --> 00:30:23.315 Going into general news, Kaufland and Google partnership. 480 00:30:23.455 --> 00:30:26.995 Kaufland has, for me, been always a pretty conservative 481 00:30:27.294 --> 00:30:31.054 retailer, but they now partner with Google for tech forward 482 00:30:31.054 --> 00:30:34.720 initiative. Amazon exits food delivery in 483 00:30:34.720 --> 00:30:38.340 Germany. Amazon shut down its grocery delivery in Germany, 484 00:30:39.120 --> 00:30:42.500 but they are now partnering with Knuspa. 485 00:30:43.280 --> 00:30:46.500 So how how would you translate Knuspa Klus? 486 00:30:47.155 --> 00:30:50.375 Like, crispy? Yeah. Something like this. Yeah. 487 00:30:51.555 --> 00:30:55.335 They partner with Knuspa not really for delivering 488 00:30:55.635 --> 00:30:58.215 fresh food, but packaged food. 489 00:30:59.389 --> 00:31:02.930 Tech loses market share in Germany. They struggle to maintain 490 00:31:02.930 --> 00:31:06.290 their mortgage, their market share in Germany as 491 00:31:06.290 --> 00:31:09.910 competition heats up. Cantaneo acquisition, 492 00:31:10.130 --> 00:31:13.715 planned engagement network acquires Munich Cantaneo 493 00:31:13.935 --> 00:31:17.295 for 195,000,000 US 494 00:31:17.295 --> 00:31:21.135 dollar. Startup talent challenges. Start ups crave 495 00:31:21.135 --> 00:31:24.435 international talent, but visa delays hold them back. 496 00:31:25.330 --> 00:31:29.010 German court whose Facebook users affected by data breach 497 00:31:29.010 --> 00:31:32.690 are eligible for compensation, but in Germany, that won't 498 00:31:32.690 --> 00:31:35.510 be that much. Related to that, 499 00:31:36.930 --> 00:31:39.165 MITA's €797,000,000 500 00:31:41.145 --> 00:31:44.825 fine from the EU for antitrust antitrust 501 00:31:44.825 --> 00:31:48.365 violations, big Tech, bigger consequences. Volkswagen 502 00:31:49.145 --> 00:31:52.285 partners with Rivian. They bet 5.8 503 00:31:53.290 --> 00:31:57.050 1,000,000,000 US dollar on a Rivian partnership to enhance software 504 00:31:57.050 --> 00:32:00.890 capabilities. Volkswagen has been quite in the news because they 505 00:32:00.890 --> 00:32:04.570 are doing pretty bad, and hopefully, their bet will 506 00:32:04.570 --> 00:32:07.415 work. Accessible ecommerce giant, 507 00:32:08.035 --> 00:32:11.475 Iable, proves accessible online stores Thrive with 508 00:32:11.875 --> 00:32:15.475 Thrive revenue inclusion Switzerland b to b SaaS 509 00:32:15.475 --> 00:32:18.980 rising stars. Sift that ranks Europe's top b to b 510 00:32:18.980 --> 00:32:22.820 SaaS Startup for 2024, who is climbing the charts. 511 00:32:22.820 --> 00:32:26.580 There are 9 startups from Berlin, 2 each from 512 00:32:26.580 --> 00:32:30.120 Vienna and Munich. There's one startup from Zurich, Dusseldorf, 513 00:32:30.340 --> 00:32:32.919 Kriesen, Kiel, and Ludgards. 514 00:32:34.875 --> 00:32:38.655 Going a little bit into the, the creative destruction. 515 00:32:39.195 --> 00:32:42.715 No insolvency, but cutting head down head count here. 516 00:32:42.715 --> 00:32:45.535 Personius lay offs, they lay off 115 517 00:32:46.235 --> 00:32:49.940 employees. Green energy, green energy 518 00:32:50.240 --> 00:32:53.680 hydrogen Startup h h two e files for 519 00:32:53.680 --> 00:32:57.520 insolvency. EV supplier Quantron files for 520 00:32:57.520 --> 00:32:59.855 insolvency. And 521 00:33:01.195 --> 00:33:04.875 lift Lyft Heroes, Lyft Hero, 522 00:33:04.875 --> 00:33:08.715 they they they are an elevator elevator, startup. They 523 00:33:08.715 --> 00:33:12.095 file for insolvency. Aufzugheld aufzughelden 524 00:33:12.554 --> 00:33:15.970 is it called in Germany. Another tough chapter in, 525 00:33:16.290 --> 00:33:19.809 in the book of a hardware Startup. Chris, you wanna do the high notes. 526 00:33:19.809 --> 00:33:23.250 Right? More like tragic heroes, I guess. So, 527 00:33:23.250 --> 00:33:26.850 yeah, successful fundraisings and exits, as 528 00:33:26.850 --> 00:33:30.365 always, just a small selection selection. Now, basically, 529 00:33:30.424 --> 00:33:34.265 our threshold has become, €10,000,000 Swiss 530 00:33:34.265 --> 00:33:37.705 francs or US dollars or more. So let me just, 531 00:33:37.705 --> 00:33:41.485 like, gallop through a couple of them. Monterosa Therapeutics 532 00:33:42.179 --> 00:33:45.320 inks a $1,000,000 $1,000,000,000 deal with Novartis. 533 00:33:46.659 --> 00:33:49.720 They are, working on targeted protein degradation. 534 00:33:50.980 --> 00:33:54.340 Alentis there Chris, what one reason this didn't make it into the 535 00:33:54.340 --> 00:33:57.715 headlines or into our oval count, this is 536 00:33:57.715 --> 00:34:01.554 potentially worth 1,000,000,000. That's why it is there. 537 00:34:01.554 --> 00:34:03.575 But Yes. 538 00:34:05.554 --> 00:34:09.304 Good clarification. Allentus Therapeutics secures 539 00:34:09.304 --> 00:34:13.020 a $181,000,000 in series d funding, a biotech 540 00:34:13.020 --> 00:34:16.320 company. The exploration company 541 00:34:16.620 --> 00:34:20.239 raises a $160,000,000 for reusable 542 00:34:20.540 --> 00:34:24.380 spacecraft development. Berlin's QUANTUN secures a 543 00:34:24.380 --> 00:34:27.895 130 €5,000,000 to develop wearable for 544 00:34:27.895 --> 00:34:31.514 diabetics. Blacklane attracts Saudi Arabia's 545 00:34:32.054 --> 00:34:35.755 PIF in its latest funding round worth €60,000,000, 546 00:34:37.974 --> 00:34:41.090 working on global expansion there. Aignostics, 547 00:34:41.886 --> 00:34:44.770 Tech Gnostics raises $34,000,000 548 00:34:45.870 --> 00:34:49.410 in a series b to advanced AI powered pathology. 549 00:34:51.390 --> 00:34:54.994 Ocean Loop gains backing from the European 550 00:34:55.054 --> 00:34:58.835 Investment Bank, EIB, advancing sustainable aquaculture. 551 00:34:59.855 --> 00:35:03.555 Tourlane raises €25,000,000 as Sequoia 552 00:35:03.855 --> 00:35:07.619 keeps faith in travel Startup. Question here is 553 00:35:07.619 --> 00:35:11.380 if the whole industry might be rebounding, so the industry 554 00:35:11.380 --> 00:35:14.740 being travel Tech. Localstack secures 555 00:35:14.740 --> 00:35:18.579 $25,000,000 to advance its clouds dev its cloud 556 00:35:18.579 --> 00:35:21.425 developer platform. Klim 557 00:35:22.925 --> 00:35:26.225 secures €22,000,000 to expand its regenerative 558 00:35:26.525 --> 00:35:30.205 farming platform globally. Agriculture here meeting 559 00:35:30.205 --> 00:35:33.665 innovation, I'd say. Zurich based Tech, Widen, 560 00:35:33.725 --> 00:35:36.630 w y d e n, secures $16,900,000 561 00:35:38.290 --> 00:35:41.970 to fuel goob global growth. They 562 00:35:41.970 --> 00:35:45.510 are a company working in wealth management. Media 563 00:35:45.570 --> 00:35:49.375 Air, lends €12,000,000 to scale its 564 00:35:49.375 --> 00:35:53.155 AI driven medical imaging solutions. HTGF, 565 00:35:54.415 --> 00:35:58.255 also €12,000,000 to, finance for 566 00:35:58.335 --> 00:36:02.015 as a financing round for, to advance AI driven 567 00:36:02.015 --> 00:36:03.395 medical imaging solutions. 568 00:36:07.280 --> 00:36:11.120 Oh, that's also the same. Mhmm. Good lord. The the 569 00:36:11.300 --> 00:36:14.660 News was that they're just leading, but we just take it out. 570 00:36:14.800 --> 00:36:18.240 Yes. Madhu cut this out after the media funding 571 00:36:18.240 --> 00:36:20.714 announcement. Thank you. Dunia 572 00:36:21.895 --> 00:36:24.395 Dunia AI secures $11,500,000 573 00:36:25.655 --> 00:36:29.335 to revolutionize data analytics. Tot 0 or 574 00:36:29.335 --> 00:36:33.175 20, I guess, raises €11,000,000 in seed funding 575 00:36:33.175 --> 00:36:35.434 to revolutionize battery recycling. 576 00:36:36.830 --> 00:36:39.090 But a huge problem in 577 00:36:40.670 --> 00:36:44.350 the future of mobility, I'd say. Validation Cloud raises 578 00:36:44.350 --> 00:36:46.930 $10,000,000 to enhance blockchain infrastructure. 579 00:36:49.413 --> 00:36:52.295 Tech x y t, gets €10,000,000 580 00:36:53.315 --> 00:36:55.895 in funding. It's a German data analytics firm, 581 00:36:56.835 --> 00:37:00.675 in order to come up with a smarter insight. So it's an 582 00:37:00.675 --> 00:37:04.500 an analytics company. Validation Cloud secures 583 00:37:04.500 --> 00:37:07.400 another $10,000,000 to scale blockchain infrastructure, 584 00:37:08.100 --> 00:37:11.560 and Deutsche Bank invests in Qplix, 585 00:37:12.100 --> 00:37:15.700 q p l I x, in order to 586 00:37:15.700 --> 00:37:18.315 innovate wealth management platforms. 587 00:37:20.215 --> 00:37:23.835 And that's all I got for you for the fundraisings 588 00:37:23.975 --> 00:37:27.655 and the exits. Is that it? That's it. I do 589 00:37:27.655 --> 00:37:31.380 believe that's right, man. We do have a few articles. 590 00:37:31.380 --> 00:37:34.840 Stay ahead of the curve. Plus, as I said, we have upcoming 591 00:37:34.900 --> 00:37:38.359 series of more than 10 blog posts for the, 592 00:37:39.540 --> 00:37:43.095 Atomico survey. So stay tuned, everybody. Keep safe, 593 00:37:43.095 --> 00:37:46.455 and enjoy your Christmas time. We will be back shortly before 594 00:37:46.455 --> 00:37:49.355 Christmas. Plus, I did send out today's email, 595 00:37:50.375 --> 00:37:54.055 for the for participation in the Fintech review, so that will be also 596 00:37:54.055 --> 00:37:57.855 coming along shortly before the holidays. Thank you, everybody. Chris, 597 00:37:57.855 --> 00:38:01.535 it was a pleasure as always to work with you. Thank you. Once again, 598 00:38:01.535 --> 00:38:03.728 happy Thanksgiving. Bye. News.