Latest / Deep Tech Germany – AI, Robotics & Frontier Innovation by Startuprad.io™ / June 2024: Lilium's €300M Aid Request & GSA Startup News

Transcript

June 2024: Lilium's €300M Aid Request & GSA Startup News · Deep Tech Germany – AI, Robotics & Frontier Innovation by Startuprad.io™

• WEBVTT 1 00:00:05.759 --> 00:00:08.894 Welcome to Startupradio rad dot Joe, 2 00:00:09.375 --> 00:00:12.895 your podcast and YouTube blog covering the German 3 00:00:12.944 --> 00:00:16.575 StartupRadio with news, interviews, and 4 00:00:16.575 --> 00:00:17.750 live events. 5 00:00:20.210 --> 00:00:23.890 Welcome to our June 2024 wrap up with vital news from the 6 00:00:23.890 --> 00:00:27.355 start up and tech entrepreneurship scenes in Germany, Austria, and 7 00:00:27.355 --> 00:00:31.035 Switzerland in 30 minutes or less. Heavy 8 00:00:31.035 --> 00:00:34.415 task today. But, our startup news is recorded 9 00:00:34.635 --> 00:00:38.390 with me, Chris, in New York City, and Joe joining from 10 00:00:38.390 --> 00:00:40.650 Frankfurt. Hello, Joe. Hey, guys. 11 00:00:42.630 --> 00:00:46.135 Today's news cutoff date is June 12 00:00:46.135 --> 00:00:49.735 25th. As always, all news not included will be, 13 00:00:50.295 --> 00:00:53.990 happening in our next news wrap up, and we're gonna kick it off 14 00:00:53.990 --> 00:00:57.530 with our highlights. And you go ahead. This 15 00:00:57.830 --> 00:01:01.190 this month, roundup of the GSA DACH business and tax 16 00:01:01.190 --> 00:01:04.925 orders, we've seen an array of significant movements 17 00:01:05.224 --> 00:01:09.065 that are shaping the landscape. Czech 24 has arguably launched the 18 00:01:09.065 --> 00:01:12.909 most ambitious marketing campaign of the year in Germany. 19 00:01:13.049 --> 00:01:16.829 Some people even talk about German business history, distributing 20 00:01:17.289 --> 00:01:20.905 5,000,000 free football jerseys from Puma, tapping into 21 00:01:20.905 --> 00:01:24.685 the enthusiasm for the Euro cup, and contrasting sharply 22 00:01:25.065 --> 00:01:28.740 with Adidas' official team gear. This initiative estimate 23 00:01:28.900 --> 00:01:31.400 is estimated to have cost around €100,000,000 24 00:01:33.700 --> 00:01:37.165 and has sparked a vibrant online discourse and driven app 25 00:01:37.165 --> 00:01:40.385 downloads despite privacy concerns. In aviation, 26 00:01:40.605 --> 00:01:44.270 Lilium is seeking €300,000,000 in government aid to 27 00:01:44.270 --> 00:01:47.409 push forward its Lilium Jet. Keep in mind, Lilium 28 00:01:47.789 --> 00:01:51.549 is listed on Nasdaq. The insurtech scene is also buzzing 29 00:01:51.549 --> 00:01:54.915 with news of Wefox with an internal 30 00:01:54.975 --> 00:01:58.415 strife could lead to a dramatic revaluation far 31 00:01:58.415 --> 00:02:01.220 below it its previous 4,500,000,000 32 00:02:02.320 --> 00:02:06.159 high. Meanwhile, clock, clock dot e is preparing for a 33 00:02:06.159 --> 00:02:09.919 significant funding round under new leadership aiming to expand 34 00:02:09.919 --> 00:02:13.584 its reach and profitability. And on a larger 35 00:02:13.584 --> 00:02:16.564 scale, Amazon has announced an additional 10,000,000,000, 36 00:02:17.504 --> 00:02:20.810 yes, b, billion investment in Germany targeting 37 00:02:21.030 --> 00:02:24.550 cloud, data storage, and logistics, emphasizing the growing 38 00:02:24.550 --> 00:02:28.215 importance of digital infrastructure in the region. As 39 00:02:28.215 --> 00:02:31.834 the region's start up ecosystem continues to evolve rapidly, 40 00:02:32.135 --> 00:02:35.435 fueled by substantial investments and strategic shifts. 41 00:02:36.330 --> 00:02:39.550 In a significant leap for German tech innovation, DeepL 42 00:02:40.490 --> 00:02:44.170 has now clinched the title of Germany's most valuable AI 43 00:02:44.251 --> 00:02:47.965 Startupradio a staggering 2,000,000,000 US dollar 44 00:02:47.965 --> 00:02:51.565 valuation, eclipsing Aleph Alpha following the 45 00:02:51.565 --> 00:02:55.340 DeepL robust 300 million investment. 46 00:02:55.960 --> 00:02:59.480 Meanwhile, Black Semiconductor is injecting a 47 00:02:59.480 --> 00:03:00.540 hefty 254,400,000 48 00:03:03.245 --> 00:03:06.765 into Europe's semiconductor industry with plans to establish 49 00:03:06.765 --> 00:03:10.204 a state of the art pilot facility in 50 00:03:10.204 --> 00:03:13.909 Aachen by 2026, Not to be outdone, 51 00:03:14.209 --> 00:03:17.430 Cognigy Cognigy, 52 00:03:17.569 --> 00:03:21.095 sorry, from Dusseldorf has garnered 100,000,000 53 00:03:21.715 --> 00:03:25.235 US dollars to enhance AI driven customer service 54 00:03:25.235 --> 00:03:28.760 automation supported by brands such as Lufthansa, 55 00:03:29.060 --> 00:03:32.840 Toyota, and Mercedes Benz. Finally, in the mobility 56 00:03:32.900 --> 00:03:36.515 sector, Flix is considering a shift in in strategy 57 00:03:36.515 --> 00:03:39.575 with a potential private equity investment from EQT 58 00:03:40.515 --> 00:03:44.034 that could see a later acquisition of 59 00:03:44.034 --> 00:03:47.780 30%, possibly altering Flick's path to 60 00:03:47.780 --> 00:03:51.540 a public offering. Chris, let's talk 61 00:03:51.582 --> 00:03:55.335 StartupRadio. Joe, I mean, first off, we, for 62 00:03:55.335 --> 00:03:58.315 those not watching us, we have to explain. We are 63 00:03:58.695 --> 00:04:02.470 Hawaiian shirts. Yeah. And and if you're 64 00:04:02.470 --> 00:04:06.090 watching this, it's your own fault. Yeah. Honestly. 65 00:04:07.670 --> 00:04:11.455 My apologies. But it's, it's a segue 66 00:04:11.455 --> 00:04:15.215 into us taking a summer break. We will be back with the summer 67 00:04:15.215 --> 00:04:18.870 news wrap up on September 2nd. US 68 00:04:18.870 --> 00:04:22.630 Labor Day also sometimes considered to be the, start 69 00:04:22.630 --> 00:04:26.465 of election season even though, I mean, we said 70 00:04:26.465 --> 00:04:29.505 it it's Tuesday 25th right now, and we are looking at the present 71 00:04:29.825 --> 00:04:33.125 presidential debate in 2 days already. So we will see about this. 72 00:04:33.265 --> 00:04:36.990 Nevertheless. For everybody who speaks German, we may hint that 73 00:04:36.990 --> 00:04:40.510 you do have a podcast in German explaining US 74 00:04:40.510 --> 00:04:42.825 politics. It's called of course, it's in German. It's 75 00:04:44.185 --> 00:04:47.785 it's called which I usually listen to during my afternoon walk. 76 00:04:47.785 --> 00:04:51.520 Chris, here you go. Well done. We're still not sure 77 00:04:51.520 --> 00:04:54.880 about the number of publications we will have during the summer since 78 00:04:54.880 --> 00:04:58.505 requests are piling up a bit on our desks. We would 79 00:04:58.505 --> 00:05:02.105 assume every other week there might be some new content with the potential to have 80 00:05:02.105 --> 00:05:05.785 even weekly publications. So it's promising to 81 00:05:05.785 --> 00:05:09.480 be a really hot summer already. Yeah, and here in New York, we 82 00:05:09.480 --> 00:05:13.100 already had our 1st day with more than a 100 degrees Fahrenheit. 83 00:05:13.640 --> 00:05:17.145 Also, Germany is forecasted to have 84 00:05:17.545 --> 00:05:21.385 to reach 35 degrees Celsius. Next week, 85 00:05:21.385 --> 00:05:25.039 Chris, how much is this in Fahrenheit? I assume a lot. Somewhere in the 86 00:05:25.039 --> 00:05:28.800 nineties? Yeah. Joe, yes, 35 is 87 00:05:28.800 --> 00:05:32.319 like nineties. Exactly. But since we are also always service 88 00:05:32.319 --> 00:05:35.965 oriented here, I, as a European, always struggle with the stupid 89 00:05:35.965 --> 00:05:39.645 conversion from Fahrenheit to, Celsius and back and to have any 90 00:05:39.645 --> 00:05:43.450 sense of what any of the Fahrenheit numbers mean. But just 91 00:05:43.450 --> 00:05:47.150 recently, I read you just have to think of Fahrenheit as percent. 92 00:05:47.690 --> 00:05:51.275 So, 80 degrees Fahrenheit, 80% 93 00:05:51.414 --> 00:05:55.035 weather. You know? Okay. That sounds good. I can wear short sleeves. 94 00:05:55.574 --> 00:05:59.310 30% 30, degrees Fahrenheit, which is more or less 95 00:05:59.550 --> 00:06:03.389 like 0 Celsius, is like, oh, this is chilly. This sucks. A 96 00:06:03.389 --> 00:06:06.830 100 degrees Fahrenheit, you know, it's a 100% warm. It's too 97 00:06:06.830 --> 00:06:10.435 much. Anything above a 100%, way too much. Impossible. 98 00:06:11.055 --> 00:06:14.575 So this is the my new system. And just think of Fahrenheit as 99 00:06:14.575 --> 00:06:18.220 percent, and you're all good. See, I just Googled it. Of 100 00:06:18.220 --> 00:06:21.920 course, I did. 35 degrees Celsius or 95 101 00:06:21.980 --> 00:06:25.275 degrees Fahrenheit for everybody who's newly listening to this. 102 00:06:26.074 --> 00:06:29.835 Always, when Chris does have a siren in the background, he's off the 103 00:06:29.835 --> 00:06:33.354 hook. If we don't hear any sirens in the background when he's recording from New 104 00:06:33.354 --> 00:06:36.820 York, he owes me a bagel when I'm there next time. Bagels are 105 00:06:36.820 --> 00:06:40.120 piling up. So, yeah, our video podcast will, 106 00:06:40.580 --> 00:06:44.355 go live on June 27th, available 24 hours 107 00:06:44.355 --> 00:06:47.875 before for channel members, who can't wait to see us in the 108 00:06:47.875 --> 00:06:51.095 Hawaiian shirts. Audio podcast goes live on, 109 00:06:51.635 --> 00:06:55.389 Thursday, June 27th as well. You can always tune in to 110 00:06:55.389 --> 00:06:59.090 our Internet radio station, which more than a 100000 111 00:06:59.150 --> 00:07:02.345 people did altogether over all platforms. 112 00:07:03.925 --> 00:07:07.740 And we also have many media partners there including but not limited to Tech 113 00:07:07.740 --> 00:07:11.340 EU and Stanford University Radio Show. Laptop 114 00:07:11.340 --> 00:07:14.000 Radio you can find all this at www. 115 00:07:15.025 --> 00:07:18.705 Startup.radio. You can get your content to your inbox 116 00:07:18.705 --> 00:07:22.465 if you subscribe to Substack. And we as always, we have 117 00:07:22.465 --> 00:07:25.199 all our channels at Linktree, linktrue.ee/startupradio, 118 00:07:28.071 --> 00:07:31.840 Joe word. And we also have enablers 119 00:07:32.139 --> 00:07:35.775 for this. This recording is supported by 120 00:07:35.775 --> 00:07:39.074 HDIA and the enterprise Europe network, Hessen. 121 00:07:39.615 --> 00:07:43.370 This recording was made possible by HKI, Hessen Trade and 122 00:07:43.370 --> 00:07:47.070 Invest, and the enterprise Europe network Hessen. These organizations 123 00:07:47.450 --> 00:07:50.750 have made tremendous contributions to helping start up businesses 124 00:07:51.355 --> 00:07:55.115 succeed and thrive, providing a range of services from helping 125 00:07:55.115 --> 00:07:58.795 to find grants to ongoing partnerships. By taking 126 00:07:58.795 --> 00:08:02.300 advantage of these resources, start up companies can network and 127 00:08:02.300 --> 00:08:05.919 develop innovative strategies for success on the international 128 00:08:06.139 --> 00:08:09.745 stage. The dedicated support of HTI and the 129 00:08:09.745 --> 00:08:13.585 enterprise Europe network Hessen, also e n Hessen, is 130 00:08:13.585 --> 00:08:17.030 paramount in providing StartupRadio businesses with the tools for 131 00:08:17.030 --> 00:08:20.550 lasting success. Look at our dedicated podcast in 132 00:08:20.550 --> 00:08:24.150 partnership with them, tech startups Germany, or of course, 133 00:08:24.150 --> 00:08:26.835 again, as we said, in the link tree. 134 00:08:27.695 --> 00:08:31.315 Now dig a little bit into the top news. Right, Chris? Everybody's 135 00:08:31.375 --> 00:08:35.030 talking about Euro cup here in Germany right now, especially, 136 00:08:36.130 --> 00:08:39.890 since Germany has successfully moved out of the group phase as 137 00:08:39.890 --> 00:08:43.454 number 1 in their group. But I do believe it wasn't the most difficult. 138 00:08:43.914 --> 00:08:47.355 Neither Italy Joe Spain nor France nor Portugal. So it was 139 00:08:47.355 --> 00:08:51.080 okay. Check 24 just accomplished the 140 00:08:51.080 --> 00:08:54.300 biggest marketing campaign in Germany this year is a question. 141 00:08:54.920 --> 00:08:58.455 Check 24 has made waves in its latest marketing 142 00:08:58.455 --> 00:09:02.235 campaign distributing 5,000,000, yes, 1,000,000 143 00:09:02.295 --> 00:09:05.435 free jerseys from Puma ahead of the European championship. 144 00:09:06.180 --> 00:09:09.800 This bold move estimated to to have cost around €100,000,000 145 00:09:11.620 --> 00:09:15.399 aims to tap into the football market and attract a younger audience. 146 00:09:15.925 --> 00:09:19.305 The jerseys, which have flooded fan zones and social media, contrast 147 00:09:19.524 --> 00:09:23.225 sharply with the official DFB, the German Football Association, 148 00:09:23.524 --> 00:09:27.150 teams' jerseys made by Adidas. Czech 149 00:09:27.150 --> 00:09:30.830 24 founder Heinrich Blaser sees this as long term 150 00:09:30.830 --> 00:09:34.290 investment in the brand despite criticism from customer advocates 151 00:09:34.915 --> 00:09:38.435 who warn about data privacy. The campaign has not only 152 00:09:38.435 --> 00:09:42.135 boosted app downloads but also sparked discussions and Bemis 153 00:09:42.274 --> 00:09:45.550 online. While some applaud the innovative approach, 154 00:09:45.770 --> 00:09:49.310 others questions the true cost of the free jerseys. 155 00:09:49.610 --> 00:09:53.385 What everybody has to see is also the the 156 00:09:53.385 --> 00:09:57.005 background story that Puma and Adidas have been 157 00:09:57.065 --> 00:10:00.639 founded by competing brothers. So this is just a 158 00:10:00.639 --> 00:10:04.399 continuation of this fight. And I do believe a lot of people 159 00:10:04.399 --> 00:10:07.940 at Adelas are currently pretty mad at, check 24 160 00:10:08.560 --> 00:10:10.975 and, of course, Ooma. 161 00:10:12.475 --> 00:10:16.155 Air taxis still in the news. Remember that we talked last news 162 00:10:16.155 --> 00:10:19.770 about Vodacopter and their, Menninger their self imposed 163 00:10:19.770 --> 00:10:23.450 deadline of flying during the Paris Olympics this summer and the failure to 164 00:10:23.450 --> 00:10:27.045 secure more than 50 1,000,000 state guarantees. 165 00:10:27.504 --> 00:10:31.125 Lilium is now in the headlines. The Bavarian 166 00:10:31.745 --> 00:10:35.520 e v t o l, Ifto Ifto developer, 167 00:10:36.540 --> 00:10:40.380 is seeking 300,000,000 in government aid to bridge 168 00:10:40.380 --> 00:10:43.605 financing gaps for a Stellium jet. Meanwhile, 169 00:10:43.745 --> 00:10:47.345 competitor Volocopter is also vying for funding. 1st manned flood 170 00:10:47.345 --> 00:10:50.865 expected this year. Details in the link here in the show notes at 171 00:10:50.865 --> 00:10:54.550 Handelsblad. Also, the news of Lilium come after 172 00:10:54.550 --> 00:10:56.970 last month, we covered 150,000,000 173 00:10:57.990 --> 00:11:01.545 funding. We've hinted this already in 174 00:11:01.545 --> 00:11:05.005 our in our headlines. Wefox 175 00:11:05.385 --> 00:11:08.525 suffers from internal power struggle with a potential 176 00:11:08.825 --> 00:11:12.370 4 1,000,000,000, yes, 1,000,000,000 US dollar valuation 177 00:11:12.430 --> 00:11:16.190 drop. There seems to be power struggle that wefox, as always, 178 00:11:16.190 --> 00:11:19.685 the company as a whole is suffering. This is what we 179 00:11:19.685 --> 00:11:23.385 know. According to several articles in the newspapers and blogs, 180 00:11:24.050 --> 00:11:27.810 Mubadala, an important investor at Wefox, a sovereign wealth 181 00:11:27.810 --> 00:11:31.430 fund, pushes for sale of, 2 UK's 182 00:11:32.050 --> 00:11:35.655 Ardonga Ardonga valuing the Berlin based 183 00:11:35.655 --> 00:11:37.995 IntriTech at only €550,000,000 184 00:11:40.440 --> 00:11:44.060 far below the last valuation reported by TechCrunch to be €4,500,000,000 185 00:11:45.160 --> 00:11:48.459 in May 2023. Other investors prefer 186 00:11:48.519 --> 00:11:51.865 injecting fresh capital. Decision time looms. 187 00:11:52.165 --> 00:11:56.005 The blog, Finance Forward, writes about the power struggle between the is 188 00:11:56.005 --> 00:11:59.640 between the founders and the new CEO, Marc 189 00:11:59.640 --> 00:12:03.000 Hartigan. They write the founders want to avoid him getting 190 00:12:03.000 --> 00:12:06.305 elected for the board of directors. The blog, 191 00:12:06.445 --> 00:12:09.505 Das Investment, the investment, wraps up neatly. 192 00:12:09.964 --> 00:12:13.485 Mubadala Investment would profit from a sale. The valuation has dropped 193 00:12:13.485 --> 00:12:17.220 considerably. Founders and some investors want a new 194 00:12:17.220 --> 00:12:21.060 start because according to Bloomberg, the founders would end up 195 00:12:21.060 --> 00:12:24.625 empty handed in a sale to AO and DACH. Mubadala 196 00:12:25.085 --> 00:12:28.925 would profit most from a divestiture. The future depends on the 197 00:12:28.925 --> 00:12:32.769 election of the new next supervisory board. And, of course, we 198 00:12:32.769 --> 00:12:36.610 keep you updated. In a stark contrast, also in 199 00:12:36.610 --> 00:12:39.995 the insurance insure tech space, Clark, Clark 200 00:12:39.995 --> 00:12:43.675 dotde. Christopher Oster, we had him in 2 interviews and you 201 00:12:43.675 --> 00:12:47.515 can look down here in the show notes the last video interview I had 202 00:12:47.515 --> 00:12:51.080 with him in the 100,000,000 round, is 203 00:12:51.080 --> 00:12:54.680 peacefully transitioning from his operational role at Clark to join the 204 00:12:54.680 --> 00:12:58.205 supervisory board. His leadership has been pivotal, 205 00:12:58.745 --> 00:13:02.505 and we're excited to see the impact he'll make in 206 00:13:02.505 --> 00:13:06.230 his new role. Congrats, Christopher. There's a link to his personal 207 00:13:06.230 --> 00:13:09.690 LinkedIn update. And you can learn more about 208 00:13:09.910 --> 00:13:13.535 him along this journey with our 2 interviews with him 209 00:13:13.535 --> 00:13:16.995 over time. Plus another article, InsureTech 210 00:13:17.149 --> 00:13:20.260 StartupRadio Clark is gearing up for massive one 211 00:13:20.500 --> 00:13:23.640 100,000,000 funding round under the new CEO, 212 00:13:23.716 --> 00:13:27.380 Menninger Kaltier with plans 213 00:13:27.380 --> 00:13:31.025 for expansion and increased profits. Clark is set to make 214 00:13:31.025 --> 00:13:34.465 waves in the industry. More details, of course, as always in the 215 00:13:34.465 --> 00:13:38.070 link. And the last top news and I'll hand it over to Chris. 216 00:13:38.150 --> 00:13:41.670 After announcing €7,800,000,000 investment last 217 00:13:41.670 --> 00:13:44.730 month, Amazon announced another €10,000,000,000 218 00:13:45.910 --> 00:13:49.535 additional investment this month. They are focusing on 219 00:13:49.535 --> 00:13:53.315 cloud storage in Rhein Main area and expanding its logistics network. 220 00:13:53.695 --> 00:13:56.755 This brings the total investment in Germany to 70.8 221 00:13:58.550 --> 00:14:02.230 €1,000,000,000 just announced this year alone. Joe, both 222 00:14:02.230 --> 00:14:05.770 investments are focusing on building more or less their infrastructure in Germany. 223 00:14:05.975 --> 00:14:08.955 And I hand it over to Chris who has important news about AI. 224 00:14:09.415 --> 00:14:12.475 Yes. And a bit shorter, 225 00:14:13.655 --> 00:14:17.440 top news here. In the AI world, 226 00:14:17.440 --> 00:14:20.820 we see that DeepL is going to become, 227 00:14:21.600 --> 00:14:25.265 Germany's most valuable AI StartupRadio surpassing Aleph Alpha. 228 00:14:25.645 --> 00:14:29.325 Because DeepL got a $300,000,000 investment and now hit a 229 00:14:29.325 --> 00:14:32.765 $2,000,000,000 valuation, they build their 230 00:14:32.765 --> 00:14:36.050 reputation with, machine translation 231 00:14:36.430 --> 00:14:40.190 and, actually holding their own against Google Translate and 232 00:14:40.190 --> 00:14:43.315 JetGPT, I'd say. There's more than €250,000,000 233 00:14:43.655 --> 00:14:46.755 for Black Semiconductor because they secured 234 00:14:47.455 --> 00:14:51.190 €254,400,000 in a series a funding to 235 00:14:51.190 --> 00:14:55.030 boost Europe's semiconductor industry. With 236 00:14:55.030 --> 00:14:58.774 the money or in in terms of business business strategy, they are 237 00:14:58.774 --> 00:15:02.375 set to open up a cutting edge pilot fill facility in Aachen 238 00:15:02.375 --> 00:15:05.750 by 2026. And Cognigy 239 00:15:06.130 --> 00:15:09.650 from Dusseldorf raises a $100,000,000 to supercharge AI 240 00:15:09.650 --> 00:15:13.350 customer service, automation, or a Zeo Growth, 241 00:15:14.315 --> 00:15:17.834 leads this series c funding round, which is supposed to fuel 242 00:15:17.834 --> 00:15:21.620 research and development and Joe with expansion of the brand. Joe 243 00:15:21.640 --> 00:15:24.700 far, clients include Lufthansa, Toyota, and Mercedes Benz. 244 00:15:26.920 --> 00:15:30.295 We will see who else will join that 245 00:15:30.295 --> 00:15:33.755 group. And Flix considers a private equity, 246 00:15:34.135 --> 00:15:37.830 investment as you already said. There's big moves in mobility. 247 00:15:37.830 --> 00:15:41.590 Investor EQT is in early talks to potentially acquire 30% stake 248 00:15:41.590 --> 00:15:45.285 in Flix, powerhouse between FlixBus and Flix 249 00:15:45.365 --> 00:15:48.745 Train, the company here in the US owning what used to be Greyhound, 250 00:15:50.565 --> 00:15:54.400 and, which also could probably lead that 251 00:15:54.960 --> 00:15:58.020 investment could also probably lead to a delayed 252 00:15:58.560 --> 00:16:02.320 IPO. You can learn more in our interview 253 00:16:02.320 --> 00:16:05.975 with Jochen Engert, who at that time was CEO at Flix, and there you 254 00:16:05.975 --> 00:16:09.355 can get some background about the company. 255 00:16:10.215 --> 00:16:13.920 I'm handing it over back to you to brag for a quick second, and 256 00:16:13.920 --> 00:16:17.759 then I'm taking over again. Yeah. There's actually not a lot 257 00:16:17.759 --> 00:16:21.459 to brag about. Our new website is online. You can register 258 00:16:21.519 --> 00:16:25.285 there on the website to get alerts every time we post new content. 259 00:16:25.665 --> 00:16:29.105 Note, not all blog posts are moved there yet. So that 260 00:16:29.105 --> 00:16:31.925 means you may get a lot of, 261 00:16:33.450 --> 00:16:37.290 alerts that we posted something just because we're migrating this. But 262 00:16:37.290 --> 00:16:40.890 don't worry. Start registering in September. We'll remind you of this 263 00:16:40.890 --> 00:16:44.735 again, And you will notice that we've already migrated more than 40 264 00:16:44.735 --> 00:16:48.495 blog posts and are working hard on publishing more. If you're 265 00:16:48.495 --> 00:16:52.080 looking, to partner with us, look no further. There is a 266 00:16:52.080 --> 00:16:55.840 link to our Passionfruit storefront. Chris, you always seem to me like 267 00:16:55.840 --> 00:16:59.335 a ecosystem guy. Yeah. Big picture 268 00:16:59.335 --> 00:17:02.395 guy. So ecosystem news is, 269 00:17:03.335 --> 00:17:07.060 the part of the show where we talk about everything 270 00:17:07.200 --> 00:17:11.040 surrounding the StartupRadio scene that is affecting it. At first, we have 271 00:17:11.040 --> 00:17:14.800 a look at the worldwide ecosystem where we see that 272 00:17:14.800 --> 00:17:18.545 the meta verse and ARVR investments are cooling 273 00:17:18.545 --> 00:17:21.984 off even though Apple obviously introduced with huge 274 00:17:21.984 --> 00:17:25.810 fanfare the Vision Pro, which also now has a German release date, 275 00:17:26.510 --> 00:17:30.210 it seems though that these seeds are losing interest to 2024 276 00:17:30.350 --> 00:17:34.175 is on track for the lowest funding in years for these technologies. And, 277 00:17:34.175 --> 00:17:37.775 I mean, even, even for the vision pro, I have 278 00:17:37.775 --> 00:17:41.135 already read a couple of swan songs saying, okay. This is gonna 279 00:17:41.135 --> 00:17:44.760 be, this is gonna go down the same way as 280 00:17:44.760 --> 00:17:46.860 the Google Glasses. We will see. 281 00:17:48.360 --> 00:17:52.105 Europe, European ecosystem. There are signs of recovery 282 00:17:52.105 --> 00:17:55.245 for the European StartupRadio market market after a tough 2023. 283 00:17:55.945 --> 00:17:59.560 IPOs and late stage funding are picking up. Early stage deals 284 00:17:59.560 --> 00:18:03.260 are heating up with major funds like Creandum announcing a new €500,000,000 285 00:18:04.040 --> 00:18:07.855 euro investment. We expect to see 286 00:18:07.855 --> 00:18:11.615 more unicorns and start up exits in the near future. All of it 287 00:18:11.615 --> 00:18:15.160 can be read in-depth at Siftit. And, 288 00:18:16.980 --> 00:18:19.960 affecting the start up industry in Europe is also the, 289 00:18:20.980 --> 00:18:24.715 discussion about chat control. And so far, there's no majority about that 290 00:18:24.715 --> 00:18:28.555 in the European Union. The member states are unable to 291 00:18:28.555 --> 00:18:31.960 agree on a position on chat control today. Council 292 00:18:31.960 --> 00:18:35.560 presidency has removed the Joe from the agenda because 293 00:18:35.560 --> 00:18:37.980 it did not have a sufficient majority. 294 00:18:40.825 --> 00:18:44.585 So, the if you wanna know more about the chat 295 00:18:44.585 --> 00:18:48.370 protocol and the, oversight that was planned, you can have a 296 00:18:48.370 --> 00:18:51.910 look in the show notes with articles from netspolitik and privateinternetaccess.com. 297 00:18:54.130 --> 00:18:57.855 And in the German ecosystem, we always take a short look at the 298 00:18:57.855 --> 00:19:01.294 e for business climate index for Germany, in 299 00:19:01.294 --> 00:19:03.554 which the, poll participants 300 00:19:06.300 --> 00:19:09.900 given given insight in what they expect business how they expect business to 301 00:19:09.900 --> 00:19:13.420 develop in the near future. And then we are 302 00:19:13.420 --> 00:19:17.065 being communicated a point number, 303 00:19:17.125 --> 00:19:20.965 a numb yeah, an index number. That index number dropped 304 00:19:20.965 --> 00:19:24.340 to 88.6 in June from 89 point 3 in 305 00:19:24.340 --> 00:19:27.700 May, Menninger, well, there might be some more 306 00:19:27.700 --> 00:19:31.335 pessimism in the market growing. The 307 00:19:31.335 --> 00:19:35.015 current situation assessment stayed unchanged though, and I 308 00:19:35.015 --> 00:19:38.775 mean, it's still the same story as has been for a couple of months now, 309 00:19:38.775 --> 00:19:42.420 maybe even years. The German economy struggles to overcome stagnation and 310 00:19:42.420 --> 00:19:46.260 doesn't do, doesn't show as much of a dynamic growth as 311 00:19:46.260 --> 00:19:48.915 other other countries do maybe, for example, the 312 00:19:49.935 --> 00:19:53.055 US. The, which also leads us to, 313 00:19:53.455 --> 00:19:56.735 specific numbers in terms of the economy, and, 314 00:19:57.135 --> 00:20:00.730 we see a slight growth mostly boosted by construction and 315 00:20:00.730 --> 00:20:04.570 exports. German GDP rose 0.2% in the 316 00:20:04.570 --> 00:20:07.955 Q1. Private consumption remains a challenge, 317 00:20:07.955 --> 00:20:10.855 though. So the question remains if, 318 00:20:11.475 --> 00:20:15.315 customer spending can drive a further recovery in the future or 319 00:20:15.315 --> 00:20:18.440 not. Moving on from the ecosystem to, 320 00:20:18.820 --> 00:20:22.500 more specific news from several start up regions in 321 00:20:22.500 --> 00:20:26.205 Germany, where, as always, we can tell you, well, there 322 00:20:26.205 --> 00:20:29.645 are some hidden gems in cities of general start up interest. We're not looking at 323 00:20:29.645 --> 00:20:33.025 everything. But, you have a quick 324 00:20:33.470 --> 00:20:37.310 sentence about Frankfurt and then moving on to Dusseldorf. I 325 00:20:37.310 --> 00:20:40.770 had thought when you talked about that, when 326 00:20:41.024 --> 00:20:44.144 you think about the German economy growing by only 2 point 327 00:20:44.865 --> 00:20:48.669 0.2% in a quarter, that is even 328 00:20:48.669 --> 00:20:50.929 in a quarter more than a few small, 329 00:20:52.030 --> 00:20:55.010 GDPs of small nations here in the world. So, 330 00:20:55.630 --> 00:20:59.475 relatively speaking, we're not growing fast, but I think in absolute 331 00:20:59.534 --> 00:21:03.294 terms, it would still be an impressive number. Yeah. Write in mind, 332 00:21:03.294 --> 00:21:06.755 just keep in mind the news from clog.de and Dusseldorf. 333 00:21:06.895 --> 00:21:10.230 Dusseldorf may not seem like a StartupRadio hub, 334 00:21:10.530 --> 00:21:13.830 but it has all the right ingredients. AUX money's 335 00:21:14.130 --> 00:21:17.795 CEO highlights the city's tech community, talent access, and 336 00:21:17.875 --> 00:21:21.495 quality of living. Read more about them in the tech.eu 337 00:21:22.195 --> 00:21:25.860 article. Chris, you wanna take over a little bit? Yeah. Looking 338 00:21:25.860 --> 00:21:29.240 a bit at, the StartupRadio that are Austria and Switzerland. 339 00:21:29.700 --> 00:21:33.320 In Austria, there was a scoop where about the EdTech unicorn 340 00:21:33.380 --> 00:21:37.085 GoStudent, because it turned out that GoStudent 341 00:21:37.085 --> 00:21:40.705 is behind the comparison site, and funneling 342 00:21:40.765 --> 00:21:44.559 leads to their own tutoring services at GoStudent. So 343 00:21:44.559 --> 00:21:46.980 the site is now being redesigned for better transparency, 344 00:21:48.559 --> 00:21:52.285 and we got a full story about that in the show notes. Austria is also 345 00:21:52.285 --> 00:21:56.045 set to launch 3 new business angel consortia, boosting 346 00:21:56.045 --> 00:21:59.745 early stage StartupRadio investments with €10,000,000 from the start up invest 347 00:22:00.470 --> 00:22:03.929 and, start up invest boosting scaling potentials 348 00:22:03.990 --> 00:22:07.815 program. Exciting times ahead for Austrian start ups, we think. Looking at 349 00:22:07.815 --> 00:22:11.275 Switzerland, FINMA has initiated bankruptcy proceedings 350 00:22:11.335 --> 00:22:13.675 against Flobanca's aid due to insufficient 351 00:22:14.775 --> 00:22:17.390 capital and overindebtedness. The 352 00:22:18.570 --> 00:22:22.170 Swiss bank's license was revoked, and deposits up to a 353 00:22:22.170 --> 00:22:25.950 100,000 Swiss francs will be repaid to clients. 354 00:22:26.605 --> 00:22:30.365 Moving on to general news, tech news, and the company news section 355 00:22:30.365 --> 00:22:33.825 where we zoom in even more and talk a bit about specific 356 00:22:34.045 --> 00:22:36.929 developments in specific companies. 357 00:22:37.950 --> 00:22:41.710 First off, though, let's talk a bit about new funds in case of you 358 00:22:41.710 --> 00:22:44.610 are looking for money, which only also is a selection 359 00:22:45.495 --> 00:22:48.875 Fabian, which, with offices including in Munich, 360 00:22:49.255 --> 00:22:52.955 announces the first close of its bioeconomy fund 1 361 00:22:53.220 --> 00:22:56.600 at €75,000,000 aiming for a 150,000,000 overall. 362 00:22:56.980 --> 00:23:00.500 The fund will invest in innovative biotech companies 363 00:23:00.500 --> 00:23:03.975 across food, agriculture, materials, and environmental 364 00:23:04.115 --> 00:23:07.715 tech. Porsche and CICC launch a venture capital fund to 365 00:23:07.715 --> 00:23:11.470 invest in Chinese automotive startups, collaboration that aims 366 00:23:11.470 --> 00:23:14.910 to drive innovation and strengthen early stage investments in China's 367 00:23:14.910 --> 00:23:18.365 dynamic market. More about that in the show notes Show notes. 368 00:23:18.365 --> 00:23:20.945 Greentech News, you're Rian. 369 00:23:21.885 --> 00:23:25.085 Yeah. We moved this out of the, 370 00:23:25.565 --> 00:23:28.710 creative destruction. We didn't make it. Waldemar 371 00:23:28.929 --> 00:23:32.370 Zayla announced the, the temporary end of 372 00:23:32.370 --> 00:23:35.590 Zweihorn Energy despite 6 figure crowdfunding. 373 00:23:36.215 --> 00:23:39.915 Changes included legal issues, market complexity, and customer 374 00:23:40.535 --> 00:23:44.155 adoption barriers. Basically, he was doing a very annoying 375 00:23:44.930 --> 00:23:47.910 all pink trash image 376 00:23:48.770 --> 00:23:51.670 everywhere present advertisement for 377 00:23:53.524 --> 00:23:57.304 potential solar installations on the balcony that should generate 378 00:23:57.845 --> 00:24:00.264 energy and just didn't work out. 379 00:24:01.679 --> 00:24:04.900 Moving on to the fintech news, only 1 in 5 fintech 380 00:24:05.200 --> 00:24:08.554 founders would start again in Germany due to excessive 381 00:24:08.934 --> 00:24:12.695 bureaucracy and insufficient venture capital. Fintechs wait 2 years for 382 00:24:12.695 --> 00:24:16.455 buffer approval. The coalition's effort, receive a grade 383 00:24:16.455 --> 00:24:19.670 of simply sufficient according to the, 384 00:24:20.550 --> 00:24:24.315 survey of the German StartupRadio association. Other One's 385 00:24:24.394 --> 00:24:28.174 Fintech subsidiary called Mobifin has officially 386 00:24:28.315 --> 00:24:32.014 failed. A bit of shareholder dispute, sounds familiar, 387 00:24:32.159 --> 00:24:35.700 and mismanagement led to its downfall despite initial 388 00:24:35.760 --> 00:24:39.140 high hopes the project has turned into a €1,000,000 389 00:24:39.519 --> 00:24:43.265 euro loss. Two news concerning trade republic. Number 390 00:24:43.265 --> 00:24:46.625 1, they end their partnership with Solaris Bank in 391 00:24:46.625 --> 00:24:50.085 Berlin, opting for established banks like Deutsche, JPMorgan, 392 00:24:50.304 --> 00:24:53.830 HSBC, and Citi. The new broker now entrust customer 393 00:24:53.830 --> 00:24:57.670 funds to these major banks. More links, of course, in the show 394 00:24:57.670 --> 00:25:01.485 notes and trade Joe republics experience problems with 395 00:25:01.625 --> 00:25:05.385 paying dividends for their, for shares 396 00:25:05.385 --> 00:25:09.110 their shareholder their customers hold in their portfolio. 397 00:25:09.110 --> 00:25:11.290 Sorry. They, 398 00:25:12.550 --> 00:25:16.390 they, answer questions. Of course, link in the show 399 00:25:16.390 --> 00:25:20.125 notes, and I think by now, they might have already 400 00:25:20.585 --> 00:25:24.285 fixed that bug. Chris, you wanna do some general news? 401 00:25:25.620 --> 00:25:29.220 Sure. And looking at, the time, I'm gonna just, 402 00:25:29.220 --> 00:25:32.360 like, rattle it off. Northvolt's €2,000,000,000 403 00:25:34.275 --> 00:25:37.815 deal with BMW has been canceled due to production delays. 404 00:25:38.675 --> 00:25:42.435 It's the Swedish battery manufacturer, which is now also 405 00:25:42.435 --> 00:25:45.260 reviewing its plant factory in Borlanger, Sweden. 406 00:25:46.760 --> 00:25:50.140 More about that at Zifdet. Celonis, Germany's most 407 00:25:50.425 --> 00:25:54.105 valuable startup, is reinventing itself as they say, despite 408 00:25:54.105 --> 00:25:57.545 nearly 40% growth. Their IPO is delayed as they 409 00:25:57.545 --> 00:26:00.880 revamp technology to harness AI advancements 410 00:26:00.940 --> 00:26:04.559 better. They are expected to surpass $1,000,000,000 411 00:26:05.019 --> 00:26:08.645 in revenue this year. After the big fireworks of 412 00:26:08.645 --> 00:26:12.325 Gurkillas, which burned fast and bright, not all delivery 413 00:26:12.325 --> 00:26:15.850 concepts seem to suffer. So we see that Flush and Paz, one of the few 414 00:26:15.850 --> 00:26:19.309 survivors of the delivery boom, likely surpassed €500,000,000 415 00:26:20.090 --> 00:26:23.150 in revenue in 2023 despite staff reductions. 416 00:26:24.005 --> 00:26:27.365 OTCA expects a diff a significant growth in 417 00:26:27.365 --> 00:26:29.705 2024. So maybe 418 00:26:31.280 --> 00:26:34.640 FlashPost might also outpace rivals like Picnic and 419 00:26:34.640 --> 00:26:38.159 Knuspa. We may add for our audience abroad that 420 00:26:38.159 --> 00:26:41.575 OTCA is basically a large conglomerate of food 421 00:26:41.575 --> 00:26:45.335 companies started originally by a a person with a family 422 00:26:45.335 --> 00:26:49.035 named OTCA with, with ingredients for baking. 423 00:26:49.720 --> 00:26:53.560 Yeah. A bit like, I would say, probably, like, general meals or something. Yeah. 424 00:26:53.560 --> 00:26:56.620 I don't know. They're also in into muesli a lot. 425 00:26:57.685 --> 00:27:01.285 But not all delivery, ideas do well. Berlin's pharmacy 426 00:27:01.285 --> 00:27:05.060 delivery service, Mayd, m a y d, has 427 00:27:05.060 --> 00:27:08.500 filed for insolvency. Once operating in 70 cities, they face 428 00:27:08.500 --> 00:27:12.040 financial struggles and competition. The app already 429 00:27:12.100 --> 00:27:14.975 experienced outrage outrageous outages. 430 00:27:16.155 --> 00:27:19.915 The exploration company from Munich receives order from the 431 00:27:19.915 --> 00:27:23.630 European Space Agency to build a space capsule in order to 432 00:27:23.630 --> 00:27:26.929 deliver freight to the ISS. Peugeot 433 00:27:27.150 --> 00:27:30.909 partners with German StartupRadio, v a y, to 434 00:27:30.909 --> 00:27:34.635 revolutionize delivery services with teledriving technology, 435 00:27:35.174 --> 00:27:37.674 aiming to make autonomous vehicles obsolete. 436 00:27:40.460 --> 00:27:44.300 The we got big news for Uber. One's a fierce competitor 437 00:27:44.300 --> 00:27:48.034 is now expanding its partnership with German taxi providers. So 438 00:27:48.034 --> 00:27:51.715 the Uber app is now available to all taxi operators across 439 00:27:51.715 --> 00:27:55.210 Germany, and the German military army, the German 440 00:27:55.210 --> 00:27:58.890 army, Bundeswehr, is exploring new drone defense solutions and Startupradio 441 00:27:58.890 --> 00:28:02.615 Titan Technologies may have what it needs, a 3 d printed 442 00:28:02.615 --> 00:28:06.055 AI equipped kamikatsu drone with speeds 443 00:28:06.055 --> 00:28:09.595 up of up to 250 kilometers per hour. 444 00:28:09.975 --> 00:28:13.680 It apparently is able to take down larger 445 00:28:13.680 --> 00:28:17.480 drones. More about that in. Let's talk 446 00:28:17.480 --> 00:28:21.205 a bit about creative destruction. Creative 447 00:28:21.264 --> 00:28:24.885 destruction. Of course. As always, does creative destruction. 448 00:28:25.105 --> 00:28:28.440 And I have to tell you, Chris, this is getting shorter and shorter, and the 449 00:28:28.440 --> 00:28:32.039 fundraisers are getting longer and longer. I think we turn the corner 450 00:28:32.039 --> 00:28:35.419 here. Berlin based, known for personalized 451 00:28:35.895 --> 00:28:39.735 accessories, declares insolvency. Munich 3 d lidar 452 00:28:39.735 --> 00:28:43.255 tech company, Plickveld, is insolvent. Founded in 453 00:28:43.255 --> 00:28:45.779 2017, it raised over €42,500,000 454 00:28:47.039 --> 00:28:50.480 but faced financial hurdles. 2022 revenue was 455 00:28:50.480 --> 00:28:54.125 €1,900,000 with loss of 12,600,000. Woah. That's 456 00:28:54.285 --> 00:28:57.885 staggering. They raised their last funding in 457 00:28:57.885 --> 00:29:01.325 2023. And, of course, you can learn more in the show notes. And 458 00:29:01.325 --> 00:29:04.860 Austria, Vienna based start up Spoon, formerly Tolstoy, 459 00:29:05.400 --> 00:29:08.760 known for its AI driven restaurant management software, files for 460 00:29:08.760 --> 00:29:12.175 bankruptcy after selling its vegan restaurant division last 461 00:29:12.175 --> 00:29:14.995 fall. Chris, you want to end on a high note? 462 00:29:16.415 --> 00:29:20.115 Of course. So we are highlighting a couple of successful fundraising 463 00:29:20.175 --> 00:29:23.490 and exits here. Keep in mind, it's a small selection. 464 00:29:25.309 --> 00:29:28.910 It's just for us that the news here and the total value show how resilient 465 00:29:28.910 --> 00:29:32.745 the start up scene is. We included, as always, only some select 466 00:29:32.745 --> 00:29:35.645 fundraisings above €5,000,000 or $5,000,000. 467 00:29:36.825 --> 00:29:40.400 This month, there were so many announcements that, as always, nearly. 468 00:29:40.620 --> 00:29:44.380 So as you're saying, like, mood is picking up that 469 00:29:44.380 --> 00:29:47.915 we could not include all funds raised. So a couple of highlights here. Yes. 470 00:29:48.155 --> 00:29:51.755 A lot of money, but since biotech is not our main focus, the news ended 471 00:29:51.755 --> 00:29:55.135 up down here. ITM from Garching raised a €188,000,000. 472 00:29:56.555 --> 00:29:59.440 It's a Munich Munich based radiopharmaceutical 473 00:30:00.140 --> 00:30:03.680 biotech and aims to advance precision therapeutics 474 00:30:04.060 --> 00:30:07.875 for how to treat cancer tumors and to expand manufacturing 475 00:30:08.095 --> 00:30:11.315 cap capabilities. ESA Aerospace 476 00:30:12.180 --> 00:30:15.720 secures an additional 65,000,000 in funding, raising its 477 00:30:16.020 --> 00:30:17.400 series c to €220,000,000. 478 00:30:20.135 --> 00:30:23.895 It's backed by the NATO Innovation Fund and aims to 479 00:30:23.895 --> 00:30:26.920 launch its spectrum rocket this year. 480 00:30:27.320 --> 00:30:30.540 Also, I ESA Aerospace secures, in addition, an €85,000,000 481 00:30:32.280 --> 00:30:35.800 80? €18,500,000 growth 482 00:30:35.800 --> 00:30:39.635 lawn Loan? Good lord. They're 483 00:30:39.635 --> 00:30:42.695 not, like, on the green lawn. An €18,500,000 484 00:30:44.275 --> 00:30:47.980 growth loan to gear up for the rocket production. The investment 485 00:30:47.980 --> 00:30:51.500 comes from California's Atell Ventures, and it will 486 00:30:51.500 --> 00:30:54.860 fuel their mission to launch small to medium sized satellites to enhance 487 00:30:54.860 --> 00:30:55.360 connectivity. 488 00:31:03.405 --> 00:31:06.620 Empower 0. M power 0. Joe, 489 00:31:08.620 --> 00:31:12.059 m power 0. I was 490 00:31:12.059 --> 00:31:14.695 like, m accent circonflex 491 00:31:15.715 --> 00:31:19.475 0. M to the power of 0, I think it's it's it's 492 00:31:19.555 --> 00:31:23.370 yeah. $35,000,000 in a series 493 00:31:23.370 --> 00:31:27.050 a funding. I guess most of it goes 494 00:31:27.050 --> 00:31:30.585 to the person who named the company. The Zouk 495 00:31:30.585 --> 00:31:34.345 based decentralized infrastructure layer for crypto dollar issue 496 00:31:34.585 --> 00:31:38.345 issuance plans to expand operations and development. It's 497 00:31:38.345 --> 00:31:42.100 led by Bain Capital. Recap raises $14,600,000 498 00:31:43.760 --> 00:31:47.460 in the series a funding led by Entre Capital, financing 499 00:31:47.760 --> 00:31:51.415 and data insights platform that will expand operations and 500 00:31:51.415 --> 00:31:54.934 business reach in Germany and the Netherlands. Then more 501 00:31:54.934 --> 00:31:58.535 AI news, DeepJudge, which is an AI driven legal search 502 00:31:58.535 --> 00:32:02.200 startup, raised $10,700,000 in seed funding led 503 00:32:02.200 --> 00:32:04.380 by Koju Kwaju. 504 00:32:06.520 --> 00:32:09.784 Funds will support expansion and team growth to meet customer demands. 505 00:32:10.485 --> 00:32:13.784 ARX Robotics secures 506 00:32:13.845 --> 00:32:16.950 €9,000,000 and funding to to revolutionize 507 00:32:17.250 --> 00:32:21.010 autonomous ground systems, also backed by the NATO Innovation 508 00:32:21.010 --> 00:32:24.505 Funds and other investors. Joe they wanna boost 509 00:32:24.505 --> 00:32:28.045 military and civilian applications with scalable 510 00:32:28.665 --> 00:32:31.560 but modular robots. Restate 511 00:32:32.260 --> 00:32:35.940 raises $7,000,000 in seed funding led by Redpoint 512 00:32:35.940 --> 00:32:39.640 Ventures. It's founded by Apache Flink's Fling's cocreator 513 00:32:41.055 --> 00:32:44.355 and aims at simplifying building distributed 514 00:32:44.815 --> 00:32:48.650 applications with an innovative workflows as 515 00:32:48.950 --> 00:32:52.630 code system. Atmio, a Hamburg based Startupradio, raises 516 00:32:52.630 --> 00:32:56.170 €5,100,000 in seed funding in order to combat 517 00:32:57.005 --> 00:33:00.845 Metan emissions. They are it's led by Notion Capital, and the round is 518 00:33:00.845 --> 00:33:03.585 going to fuel product development and team expansions. 519 00:33:04.720 --> 00:33:08.480 ETHRIS, Munich based biotech secured a 520 00:33:08.480 --> 00:33:11.860 $5,000,000 funding from the Gates Foundation to advance 521 00:33:12.475 --> 00:33:16.315 RNA therapeutics and vaccines. With this boost, they are able 522 00:33:16.315 --> 00:33:20.095 to fast track ETH 47 and inhaled, 523 00:33:20.650 --> 00:33:24.410 mRNA candidate for respiratory diseases. And 524 00:33:24.410 --> 00:33:27.790 it's a small investment, but still knows Joe noteworthy 525 00:33:28.490 --> 00:33:32.255 quick save for Compion. It's a it's a sort of based b to b 526 00:33:32.255 --> 00:33:35.235 financial marketplace, voided insolvency 527 00:33:37.280 --> 00:33:40.880 avoided insolvency, thanks to a swift investment from 2 shareholders that 528 00:33:40.880 --> 00:33:44.455 injected €1,000,000. And that 529 00:33:44.455 --> 00:33:47.995 came just weeks after the parent company, Doc Financial, went bankrupt. 530 00:33:48.535 --> 00:33:51.995 We have some fundraisers from Switzerland. Neuraj concept raises $27,000,000 531 00:33:52.615 --> 00:33:56.350 in series b, the Lausanne based 3 d deep learning 532 00:33:56.350 --> 00:34:00.110 platform for product engineering and wants to accelerate global growth and meet 533 00:34:00.110 --> 00:34:03.955 customer demand in Europe, Asia Pacific, and the US. And Swiss 534 00:34:04.735 --> 00:34:08.035 blockchain firm, Liq, loses $22,000,000 535 00:34:08.655 --> 00:34:12.310 in a major cyber attack. Despite the breach, the company assures customers 536 00:34:12.310 --> 00:34:16.090 that their funds are safe and will be reimbursed. And fundraising 537 00:34:16.150 --> 00:34:19.695 from as Austria from Africa. Fundraising from Austria 538 00:34:19.995 --> 00:34:23.755 is a blank today. So this is a 539 00:34:23.755 --> 00:34:27.320 wrap. We will be back on September 2nd. And, 540 00:34:27.320 --> 00:34:30.760 actually, guys, if you want to have more, just let us know. If you want 541 00:34:30.760 --> 00:34:34.219 to have less, let us know. But, actually, I have to admit, 542 00:34:34.485 --> 00:34:38.245 doing more is simple. You just include more content, but 543 00:34:38.245 --> 00:34:41.625 actually doing really, more paragraphs, 544 00:34:41.845 --> 00:34:45.579 digging a little bit deeper into news is what we like. That's why the shop 545 00:34:45.579 --> 00:34:48.940 news are getting a little bit bigger, and we go over the rest. I 546 00:34:48.940 --> 00:34:52.645 agree. No news to stay ahead of the curve. In summer, just, 547 00:34:52.645 --> 00:34:56.405 like, stay in the curve. That's our recommendation. As 548 00:34:56.405 --> 00:34:59.845 always, it was a pleasure talking to you, wrapping up the news with you, and 549 00:34:59.845 --> 00:35:03.599 we will be back together on September 2nd, Labor Day in 550 00:35:03.599 --> 00:35:07.359 the US. Also, my birthday. Wonderful. Looking 551 00:35:07.359 --> 00:35:10.705 forward. Thank you. Auf Wiedersehen. Bye bye. 552 00:35:11.885 --> 00:35:14.465 Bye bye. Cheers. Cheers. 553 00:35:19.539 --> 00:35:22.755 That's all, folks. Find more news, streams, 554 00:35:23.315 --> 00:35:26.934 events, and interviews at www.startuprad.i0. 555 00:35:29.154 --> 00:35:31.020 Remember, sharing is 556 00:35:34.522 --> 00:35:35.022 Carrie.