Latest / Blockchain Germany – Web3 Startups, Crypto Innovation & Venture Capital by Startuprad.io™ / Summer 2024 News: Helsing's €4.9B Defense-AI Valuation
Transcript
- WEBVTT 1 00:00:20.305 --> 00:00:23.985 Hello and welcome everybody. This is Joe from start up rate dot io, your 2 00:00:23.985 --> 00:00:27.820 startup podcast YouTube blog and Internet radio station on the 3 00:00:27.820 --> 00:00:31.260 German Austrian with startup scene. Today, we are back. Hey, 4 00:00:31.260 --> 00:00:34.960 Chris. Miss you a lot. How you doing? I'm doing fine. 5 00:00:35.020 --> 00:00:38.160 Summer is still ongoing, but yesterday was the 1st day of 6 00:00:39.100 --> 00:00:42.915 fall here in New York. Felt like it. I actually love 7 00:00:42.915 --> 00:00:46.515 it here, everybody who's listening to this. I'm wearing a polo 8 00:00:46.515 --> 00:00:50.275 shirt, short sleeves, but, long trousers. So therefore 9 00:00:50.355 --> 00:00:53.955 long pants. Therefore, I actually 10 00:00:53.955 --> 00:00:57.710 really like this water because the temperature goes down at night. I can sleep pretty 11 00:00:57.710 --> 00:01:01.489 well. And during the day, it's not too harsh. It's awesome. 12 00:01:02.670 --> 00:01:06.430 Let's get started. This recording will be tiny bit 13 00:01:06.430 --> 00:01:09.810 longer than usual, maybe even much longer. 14 00:01:10.155 --> 00:01:13.695 Welcome to this month in German, Swiss, and Austrian startups, 15 00:01:14.155 --> 00:01:17.695 our regular summer news wrap up for July 16 00:01:17.915 --> 00:01:21.435 August. This is a special publication. Our traditional 17 00:01:21.435 --> 00:01:24.979 startup summer news wrap up published on Labor Day in the 18 00:01:24.979 --> 00:01:28.740 US, where we get you up to speed again after 19 00:01:28.740 --> 00:01:32.580 the summer break. Usually, this episode runs a little bit longer than our 30 20 00:01:32.580 --> 00:01:36.200 minutes goal. So guys, now is the time to get a snack and a drink. 21 00:01:36.525 --> 00:01:40.365 Welcome to our summer 2024 wrap up with vital news from 22 00:01:40.365 --> 00:01:43.885 a start up and tech scene in 23 00:01:43.885 --> 00:01:47.725 Germany, Austria, and Switzerland. Our start up news is recorded 24 00:01:47.725 --> 00:01:49.105 with Chris in New York, 25 00:01:52.680 --> 00:01:56.360 and, meet Joe joining from Frankfurt. Today, 26 00:01:56.360 --> 00:02:00.200 our news cut is August 21, 2024. As always, 27 00:02:00.200 --> 00:02:04.035 all news not included will be in our next news or app app this 28 00:02:04.035 --> 00:02:07.735 time. Usually, we would let me check my work calendar. 29 00:02:07.955 --> 00:02:11.555 We will publish on the 26th September, but this is a 30 00:02:11.555 --> 00:02:15.235 pretty short time. So Chris and I decided, we 31 00:02:15.235 --> 00:02:18.959 will have the next start up news publication on October 3rd for the very 32 00:02:18.959 --> 00:02:21.860 simple reason. It's a public holiday. It's Unity Day, 33 00:02:22.720 --> 00:02:26.400 here in Germany. So we will get you a publication on October 34 00:02:26.400 --> 00:02:29.459 3rd, and we have complete month of news there. 35 00:02:30.080 --> 00:02:33.534 Also, new, we have a new partner announcement with 36 00:02:33.534 --> 00:02:37.375 exclusive benefits for starter bright dot I o listeners. Did you 37 00:02:37.375 --> 00:02:40.894 know that on average, a blog post gets you way more 38 00:02:40.894 --> 00:02:44.390 traffic than a social media post? We have a special 39 00:02:44.450 --> 00:02:48.290 deal with moderniq's dot com, where start up rate. Io 40 00:02:48.290 --> 00:02:52.070 listeners can create 2 free SEO optimized blog posts per month 41 00:02:52.210 --> 00:02:55.890 in less than a minute. I repeat, 2 pieces free a 42 00:02:55.890 --> 00:02:59.555 month. You will get the 2 free posts for 43 00:02:59.555 --> 00:03:02.995 your blog each month only when you use the sign up 44 00:03:02.995 --> 00:03:06.754 link we have down here in the show notes. This is exclusive for 45 00:03:06.754 --> 00:03:10.360 our audience. Normally, you get only 1. Also, 46 00:03:10.660 --> 00:03:14.440 our partner, Deep Ecosystem, is running a new survey. 47 00:03:14.900 --> 00:03:18.660 You can help shape the future of European startup hubs, share 48 00:03:18.660 --> 00:03:21.800 your insights in the Startup Heatmap Europe survey. 49 00:03:23.055 --> 00:03:26.815 Your voice matters. Join us in mapping the next wave of 50 00:03:26.815 --> 00:03:30.355 innovation. You can participate with link in the show notes 51 00:03:30.495 --> 00:03:34.275 until September 15th. Chris, 52 00:03:34.495 --> 00:03:38.290 you are the person who always gives us the highlights. Right? I 53 00:03:38.290 --> 00:03:41.350 am, like, my whole life, and me too. So 54 00:03:42.050 --> 00:03:45.810 full of highlights. So, as you said, this is our welcome 55 00:03:45.810 --> 00:03:49.650 to the summer 2024, startup news wrap up from 56 00:03:49.650 --> 00:03:53.190 start up rate dot I o, where we bring you the latest highlights 57 00:03:53.365 --> 00:03:56.905 from the start up ecosystems of Germany, Switzerland, and Austria. 58 00:03:57.845 --> 00:04:01.685 Also, my apologies. You might hear some construction work in the background. This is 59 00:04:01.685 --> 00:04:05.365 just what New York does. If you think it's annoying and while 60 00:04:05.365 --> 00:04:08.790 listening to the podcast, then imagine living through it. 61 00:04:09.909 --> 00:04:13.670 Today is a special Labor Day episode packed with updates from July 62 00:04:13.670 --> 00:04:17.430 August, ensuring you stay ahead of the curve as we head into a hot fall 63 00:04:17.430 --> 00:04:20.870 and winter of innovation here. And our top stories 64 00:04:20.870 --> 00:04:23.794 include Helsing's monumental €450,000,000 65 00:04:24.735 --> 00:04:28.335 series c funding positioning the Munich based defense AI 66 00:04:28.335 --> 00:04:31.715 startup as a leader in European security tech. We explore 67 00:04:31.775 --> 00:04:35.315 Lilium's potential sale and relocation due to uncertainties 68 00:04:35.694 --> 00:04:39.460 over German state aid, something that could 69 00:04:39.460 --> 00:04:42.600 significantly impact the air mobility landscape. 70 00:04:43.380 --> 00:04:46.440 Also, Grover is having a €50,000,000 71 00:04:46.900 --> 00:04:50.500 funding run round, marking a strategic shift 72 00:04:50.500 --> 00:04:54.335 towards sustainable growth as the Berlin tech based rental 73 00:04:54.395 --> 00:04:56.575 company navigates market challenges. 74 00:04:57.995 --> 00:05:01.215 Also, in this episode, we delve into Kettle 75 00:05:01.835 --> 00:05:05.535 YM, Kettle Limb's impressive €150,000,000 76 00:05:06.235 --> 00:05:09.360 series defunding for cancer immune therapy 77 00:05:09.900 --> 00:05:13.580 and AUSATION's €110,000,000 investment to its expand its 78 00:05:13.580 --> 00:05:16.800 global ESG platform highlighting a, 79 00:05:17.980 --> 00:05:21.820 some robust investor confidence there in Europe's deep tech 80 00:05:21.820 --> 00:05:25.465 and biotech sectors. Not to be missed European Central Bank's 1st 81 00:05:25.465 --> 00:05:27.645 progress report on the digital euro, 82 00:05:29.145 --> 00:05:32.605 a milestone in preparing Europe's central bank digital currency, 83 00:05:32.745 --> 00:05:36.560 CBDC. Beyond those individual funding news, we 84 00:05:36.560 --> 00:05:40.160 will show we will talk a bit more about the 85 00:05:40.160 --> 00:05:43.680 broader startup ecosystem in the DACH region, DACH being the 86 00:05:43.680 --> 00:05:47.120 German abbreviation for GSA, Germany, Austria, 87 00:05:47.120 --> 00:05:50.775 Switzerland. The European VC 88 00:05:50.775 --> 00:05:54.535 landscapes continues to thrive with venture capital firms 89 00:05:54.535 --> 00:05:57.835 outperforming US counterparts over 10 15 years horizon, 90 00:05:59.495 --> 00:06:03.255 where so we see that Europe is gaining some traction in 91 00:06:03.255 --> 00:06:07.070 the global innovation landscape. We also spot the 92 00:06:07.070 --> 00:06:10.750 surge in European deep tech investments with McKinsey's research reporting 93 00:06:10.750 --> 00:06:14.590 that Europe now accounts for 19% of global funding in this 94 00:06:14.590 --> 00:06:18.335 sector, expected to grow to 20 by 95 00:06:18.395 --> 00:06:21.995 25 to 35 percent by 2030. A trend 96 00:06:21.995 --> 00:06:25.835 reinforced by record breaking €18,700,000,000 raised in 97 00:06:25.835 --> 00:06:29.455 venture debt during the first half of twenty twenty four, signaling 98 00:06:29.515 --> 00:06:33.300 an upcoming wave of mergers and acquisitions, particularly in climate 99 00:06:33.300 --> 00:06:37.140 tech and Fintech. Moreover, the EU's 100 00:06:37.140 --> 00:06:40.980 Digital Markets Act, DMA, introduces a new regulatory framework 101 00:06:40.980 --> 00:06:44.500 set to reshape tech competition across the continent, and 102 00:06:44.500 --> 00:06:48.285 Germany's start up scene faces both challenges and opportunities with the 103 00:06:48.285 --> 00:06:51.884 booming AI startup sector showing 35% increase in 104 00:06:51.884 --> 00:06:55.505 2024 despite government initiatives lagging behind. 105 00:06:55.805 --> 00:06:59.260 These ecosystem insights provide an overview of the 106 00:06:59.260 --> 00:07:02.800 forces driving the conversation in 107 00:07:03.020 --> 00:07:05.920 the start up scene right now. And, 108 00:07:07.820 --> 00:07:11.120 we that's it for me kick starting 109 00:07:12.105 --> 00:07:15.785 our show for today, and I will hand it over 110 00:07:15.785 --> 00:07:19.545 to you for more details now. Let's talk 111 00:07:19.545 --> 00:07:23.225 start ups, but first, schedule. We are back from the summer break 112 00:07:23.225 --> 00:07:26.960 and hope all of you are refreshed and ready for hot fall 113 00:07:26.960 --> 00:07:30.640 and winter. This summer, we published new episodes each 114 00:07:30.640 --> 00:07:33.700 week, plus a few blog posts. We want to highlight 115 00:07:34.080 --> 00:07:37.620 just 2 in cooperation with the Curios 20 24 116 00:07:37.680 --> 00:07:41.115 event here in the lovely city of Mainz. Legendary 117 00:07:41.175 --> 00:07:44.935 engineer, entrepreneur, and one of the world's most cited 118 00:07:44.935 --> 00:07:48.775 researchers, MIT professor Robert Langer, also cofounder 119 00:07:48.775 --> 00:07:52.135 of Moderna, gave us a remote interview. We talked about research 120 00:07:52.135 --> 00:07:55.639 biotech and outlook on the world 121 00:07:55.699 --> 00:07:59.460 of biotech. By the way, I met him in person in Mainz, but we 122 00:07:59.460 --> 00:08:02.840 had to, rearrange the recording, 123 00:08:03.460 --> 00:08:07.080 due to his travel schedule and his very heavy schedule 124 00:08:07.220 --> 00:08:11.065 on-site. Steven Chu is the 1st Nobel laureate we interviewed 125 00:08:11.065 --> 00:08:14.905 here. The former US Energy Secretary and Stanford professor talked with 126 00:08:14.905 --> 00:08:18.664 us about energy, renewables, US versus European Queen Tech, 127 00:08:18.664 --> 00:08:22.025 and why he has personally no solar panels on his 128 00:08:22.025 --> 00:08:25.500 roof. We'll get you at least weekly content 129 00:08:25.500 --> 00:08:29.180 until I need to turn again to my, to 130 00:08:29.180 --> 00:08:32.959 my trusted paper wall calendar until 19th 131 00:08:34.380 --> 00:08:38.025 December. The audio podcast and the video 132 00:08:38.025 --> 00:08:41.625 podcast will live will go live on September 2nd. As we 133 00:08:41.625 --> 00:08:45.305 repeatedly said, it's Labor Day in the US. Happy Labor Day 134 00:08:45.305 --> 00:08:48.845 for all of you listening there. If you get your 135 00:08:48.905 --> 00:08:52.720 news to your inbox, if you prefer that, you can subscribe to 136 00:08:52.720 --> 00:08:56.339 our sub stack. For everything else, there's our link tree, 137 00:08:57.199 --> 00:09:00.959 our enablers. This recording is supported by HTII and 138 00:09:00.959 --> 00:09:04.774 the European Enterprise Network, Hessen. This recording was 139 00:09:04.774 --> 00:09:08.295 made possible by HESN Trade and Invest and the Enterprise Europe Network, 140 00:09:08.295 --> 00:09:11.435 HESN. These organizations have made tremendous 141 00:09:11.654 --> 00:09:15.175 contributions to helping start up businesses succeed and 142 00:09:15.175 --> 00:09:19.020 thrive, providing a range of services from helping to find grants to 143 00:09:19.020 --> 00:09:22.560 ongoing partnerships. By taking advantage of these resources, 144 00:09:22.700 --> 00:09:26.480 startup companies can network and develop innovative strategies 145 00:09:26.620 --> 00:09:30.380 for success on the international stage. The dedicated support of 146 00:09:30.380 --> 00:09:34.025 HTAA and the Enterprise Europe Network Hessen is paramount 147 00:09:34.085 --> 00:09:37.705 in providing start up businesses with the tools for lasting 148 00:09:37.845 --> 00:09:41.445 success. Look for our dedicated sub podcast in 149 00:09:41.445 --> 00:09:44.830 partnership with them called Tech Startups Germany. Start up 150 00:09:44.830 --> 00:09:48.589 Raven, the best way to find investors and corporation partners 151 00:09:48.589 --> 00:09:52.210 for early stage start ups. Sign up for Alexis here. 152 00:09:52.670 --> 00:09:56.290 Chris, you draw dove a little bit more 153 00:09:56.685 --> 00:09:59.665 into the top news. As we said before, 154 00:10:00.285 --> 00:10:03.645 we're now doing a little bit more top news and go a little bit more 155 00:10:03.645 --> 00:10:07.165 in-depth there. Yeah. Some of it I already 156 00:10:07.165 --> 00:10:10.845 mentioned, in the highlight section, but let's have a closer 157 00:10:10.845 --> 00:10:14.170 look at some of these news. First off, Hellsing, 158 00:10:15.750 --> 00:10:18.890 an AI startup, based in Munich, 159 00:10:19.510 --> 00:10:23.210 working in defense AI. They have secured €450,000,000 160 00:10:24.070 --> 00:10:27.435 in series c funding and are now looking at a valuation 161 00:10:27.575 --> 00:10:29.275 of a staggering €4,900,000,000. 162 00:10:31.655 --> 00:10:35.175 Their investment hopefully accelerates the development of 163 00:10:35.175 --> 00:10:38.635 AI technologies aimed at enhancing European security. 164 00:10:39.350 --> 00:10:43.110 So, yeah, good for them that right now they are, I guess, at an 165 00:10:43.110 --> 00:10:46.710 intersection of 2, booming trends right 166 00:10:46.710 --> 00:10:50.310 now with Europe wanting to be more independent when it 167 00:10:50.310 --> 00:10:53.735 comes to defense and 168 00:10:53.735 --> 00:10:57.115 security investments? For our international 169 00:10:57.335 --> 00:11:01.095 audience, €4,900,000,000 is almost 5 and a 170 00:11:01.095 --> 00:11:03.915 half 1000000000 US dollars valuation a year? 171 00:11:05.470 --> 00:11:09.230 You can have a look at how Helsing is poised to shape the future of 172 00:11:09.230 --> 00:11:12.529 defense tech in an more in-depth 173 00:11:13.070 --> 00:11:16.589 article in our show notes that we are 174 00:11:16.589 --> 00:11:20.085 linking to from, 10 Silicon Canals. 175 00:11:22.245 --> 00:11:26.085 Then moving on, Lilium, an air taxi start 176 00:11:26.085 --> 00:11:29.605 up, they are a bit more troubled. They are 177 00:11:29.605 --> 00:11:33.205 considering, sale and relocation in the 178 00:11:33.205 --> 00:11:36.670 middle of German state aid uncertainties. They 179 00:11:36.670 --> 00:11:40.290 consider themselves one of the pioneering German air taxi startups 180 00:11:40.670 --> 00:11:43.970 but are exploring a potential sale because, 181 00:11:44.829 --> 00:11:48.269 yeah, the, I guess, the support in 182 00:11:48.269 --> 00:11:50.985 Germany grew colder for, 183 00:11:51.665 --> 00:11:54.605 the air taxi industry, 184 00:11:55.145 --> 00:11:58.845 fantasy, some might say. Their, 185 00:11:59.465 --> 00:12:03.305 potential move actually would, I guess, impact the future of air mobility 186 00:12:03.305 --> 00:12:07.060 in Germany as a whole or the German start up ecosystem 187 00:12:07.120 --> 00:12:10.899 even. You can read more about Lilium's options and the implications 188 00:12:11.040 --> 00:12:14.480 for the industry also in our show notes. This 189 00:12:14.480 --> 00:12:18.320 time, a longer article at Handelsblatt, some 190 00:12:18.320 --> 00:12:21.925 kind of, yeah, the biggest German daily newspaper for business and 191 00:12:21.925 --> 00:12:25.685 economics news. Once again, I have to add some content here. 192 00:12:25.685 --> 00:12:29.045 We also had an article that didn't make it into this news 193 00:12:29.045 --> 00:12:32.885 episode, a a study saying that only wealthy 194 00:12:32.885 --> 00:12:36.670 people could afford such air taxi rides because the fares 195 00:12:36.670 --> 00:12:40.510 would be pretty high. Mhmm. Moving 196 00:12:40.510 --> 00:12:43.730 on to, the European Central Bank, 197 00:12:44.029 --> 00:12:47.485 ECB, EZB in Germany, they have published their first progress 198 00:12:47.485 --> 00:12:50.705 report on a digital euro or the digital euro. 199 00:12:51.964 --> 00:12:55.505 They are so which means they are preparing a digital 200 00:12:55.565 --> 00:12:59.005 currency. In the first report, you can read about key 201 00:12:59.005 --> 00:13:01.825 developments, future steps in the digital euro project, 202 00:13:04.000 --> 00:13:07.440 a project of which they hope that it 203 00:13:07.440 --> 00:13:10.180 will revolutionize the European financial landscape. 204 00:13:11.839 --> 00:13:15.440 Grover, a Berlin based tech rental company, has 205 00:13:15.440 --> 00:13:18.965 raised €50,000,000 in new funding despite facing market 206 00:13:18.965 --> 00:13:22.405 challenges, including a retreat, from the US market 207 00:13:22.405 --> 00:13:26.085 here. Funding round now will support Grover's growth and 208 00:13:26.085 --> 00:13:29.705 profit profitability goals. They are navigating 209 00:13:31.190 --> 00:13:34.990 rather challenging economic climate right now and are thinking 210 00:13:34.990 --> 00:13:38.710 a lot about the future of tech rentals. You can read more about 211 00:13:38.710 --> 00:13:42.230 that also in our show notes. They are not 212 00:13:42.230 --> 00:13:45.585 anymore right now having a unicorn start up, 213 00:13:45.985 --> 00:13:48.885 but, it seems as if there are some, like, 214 00:13:49.665 --> 00:13:51.845 honest conversations going on right now. 215 00:13:53.665 --> 00:13:57.505 In Vienna, we see that there 216 00:13:57.745 --> 00:14:00.880 the HR tech startup Speed Invest Heroes 217 00:14:01.820 --> 00:14:05.660 filed for insolvent insolvency. They recently rebranded as 218 00:14:05.660 --> 00:14:09.120 HROs, because their unfunding 219 00:14:09.500 --> 00:14:12.435 attempts proved to be unsuccessful in the end. 220 00:14:13.075 --> 00:14:16.675 This development highlights the challenges faced by start up in the HR tech 221 00:14:16.675 --> 00:14:20.035 space as a whole during our economic tough times right 222 00:14:20.035 --> 00:14:23.815 now. Details of the bankruptcy and its implications for the industry 223 00:14:24.435 --> 00:14:27.850 are, explained in-depth on trending 224 00:14:30.870 --> 00:14:34.329 topics. We found top 4 225 00:14:34.470 --> 00:14:38.230 fundraisings summing up at least 226 00:14:38.389 --> 00:14:42.105 or almost €900,000,000. Helsing, 227 00:14:42.105 --> 00:14:45.565 we already set €450,000,000 in series c. 228 00:14:47.945 --> 00:14:51.565 Then, Manheim based ESG 229 00:14:51.625 --> 00:14:55.145 platform Osapiens secured a €110,000,000 to 230 00:14:55.145 --> 00:14:58.890 expand global reach. Kettle EM Kettle YM, a 231 00:14:58.890 --> 00:15:02.650 Munich based biotech startup, raised €150,000,000 in series 232 00:15:02.650 --> 00:15:05.950 d for cancer immunotherapy, and Caresyntax 233 00:15:06.330 --> 00:15:08.910 from San Francisco in Berlin raised a 180,000,000, 234 00:15:09.930 --> 00:15:13.545 euro dollars. Major funding rounds, 235 00:15:13.545 --> 00:15:17.385 which I guess all highlight growing investor confidence in European deep tech 236 00:15:17.385 --> 00:15:20.925 and biotech, because they are all positioning 237 00:15:21.625 --> 00:15:25.450 these startups as key players in in global innovation. And I think 238 00:15:25.450 --> 00:15:28.970 here we really can say I mean, looking back to when we started 239 00:15:28.970 --> 00:15:32.810 also our show, these are numbers that back then would have been, like, 240 00:15:32.810 --> 00:15:36.430 more or less unthinkable. Having 3 digit 241 00:15:36.730 --> 00:15:39.805 million in 1,000,000 242 00:15:40.585 --> 00:15:44.425 in funding for a single company back then would not have been 243 00:15:44.425 --> 00:15:48.265 possible. And because I remember us talking a lot about in the beginning 244 00:15:48.265 --> 00:15:52.025 also about how the German start up scene or the European start 245 00:15:52.025 --> 00:15:55.620 up scene will ever be able to keep up with the 246 00:15:55.680 --> 00:15:59.380 the developments in other hot spots like Silicon Valley. 247 00:15:59.440 --> 00:16:03.040 And now numbers like this really show that there are all these, like, 248 00:16:03.040 --> 00:16:06.800 highlights or maybe unicorns that prove, that also the 249 00:16:06.800 --> 00:16:10.475 industry here has become more and more important. And 250 00:16:11.415 --> 00:16:14.774 Wefox is getting in heavy waters. It's, 251 00:16:15.255 --> 00:16:18.954 an InsurTech unicorn undergoing significant changes 252 00:16:19.014 --> 00:16:22.560 as it exits the German market and takes a strong valuation hit. 253 00:16:23.440 --> 00:16:27.120 Recently, Wefox secured a crucial €25,000,000 in fresh 254 00:16:27.120 --> 00:16:30.720 funding from existing investors, because they needed to 255 00:16:30.720 --> 00:16:34.240 avert a potential sale to a UK insurance broker named 256 00:16:34.240 --> 00:16:37.965 Ardenon. And now the new capital allows Wefox 257 00:16:37.965 --> 00:16:41.805 to restructure operations, focus on profitable markets like the Netherlands, Austria, 258 00:16:41.805 --> 00:16:45.025 and Switzerland while transforming the business in Italy. 259 00:16:45.885 --> 00:16:49.580 CEO Mark Harting Hartingan reaffirmed in his role, 260 00:16:49.720 --> 00:16:52.940 and Wefox is now poised to navigate strategic 261 00:16:53.320 --> 00:16:56.920 shifts a bit better and overall strengthen the 262 00:16:56.920 --> 00:16:59.180 position in the European intertech landscape. 263 00:17:00.680 --> 00:17:03.260 We also have sources here for a full story. 264 00:17:04.304 --> 00:17:07.984 This is what I would say the highlight section for this 265 00:17:07.984 --> 00:17:11.585 month or for this summer, giving 266 00:17:11.664 --> 00:17:15.125 handing it over back to you to talk housekeeping and bragging. 267 00:17:17.470 --> 00:17:21.309 Do you know you you you talked about past, and we 268 00:17:21.309 --> 00:17:24.829 had a few episodes of the unicorn stampede where we 269 00:17:24.829 --> 00:17:28.349 had, almost monthly new unicorn creations now with the 270 00:17:28.349 --> 00:17:32.115 Wefox and Grover. We have 2 leaving the club, but I'm sure 271 00:17:32.115 --> 00:17:35.875 there will be new ones coming in pretty soon. As Chris always 272 00:17:35.875 --> 00:17:39.554 said, housekeeping and time to brag. But, you know, it end 273 00:17:39.554 --> 00:17:42.995 bragging if it's true. Start up radio hit a new height of 274 00:17:42.995 --> 00:17:46.789 2.1 1,000,000 inventory in first half of twenty 275 00:17:46.789 --> 00:17:50.630 twenty four. From Nobel Arts to Forbes Entrepreneurs, we bring you 276 00:17:50.630 --> 00:17:54.390 the best of the GSA startup. Join us in this journey, and we are 277 00:17:54.390 --> 00:17:58.090 looking for 5,000,000 inventory this year. That will be awesome. 278 00:17:58.390 --> 00:18:01.945 If you're interested to work with us down here in the show notes, 279 00:18:02.085 --> 00:18:05.705 there is a link to our website, become a partner. 280 00:18:05.925 --> 00:18:09.365 You can subscribe and follow on the startup radio link 281 00:18:09.365 --> 00:18:13.205 tree. Also, link here in the show notes. And for the ecosystem, I 282 00:18:13.205 --> 00:18:16.680 hand over to Chris where we do have a little bit of world, where we 283 00:18:16.680 --> 00:18:20.280 have quite frequently US data because they are pretty good 284 00:18:20.280 --> 00:18:23.820 trend indicator of what is going on in startup 285 00:18:23.960 --> 00:18:27.800 world. Yes. Ecosystem, as you may know, the section of the show 286 00:18:27.800 --> 00:18:31.445 where we zoom in more and more. So we will start on a global 287 00:18:31.445 --> 00:18:34.665 scale. 1st, with a couple of new stories there. 288 00:18:35.125 --> 00:18:38.665 On a, worldwide level, we see that European 289 00:18:38.725 --> 00:18:42.245 VCs outperform US VCs over 1015 years 290 00:18:42.245 --> 00:18:45.490 or over 10 15 year horizons, 291 00:18:46.030 --> 00:18:49.870 rights sifted. A tech start up funding has 292 00:18:49.870 --> 00:18:53.630 plummeted in 2024 with only $360,000,000 raised in the 293 00:18:53.630 --> 00:18:57.385 US, which is the lowest in over a decade due to market 294 00:18:57.385 --> 00:19:00.525 saturation, regulatory pressures, and economic uncertainty. 295 00:19:00.825 --> 00:19:04.585 Right? Crunchbase. We also see that logistics start ups 296 00:19:04.585 --> 00:19:08.425 face a tough reality. Investments have plummeted nearly 90%, dropping 297 00:19:08.425 --> 00:19:11.870 from $26,000,000,000 in 21 to just 3,000,000,000 298 00:19:12.730 --> 00:19:16.570 in 23. Reasons for that are high interest rates and 299 00:19:16.570 --> 00:19:20.410 market shifts. Something that may also 300 00:19:20.410 --> 00:19:23.895 come to GSA, venture backed startup bankruptcies in the US have 301 00:19:23.975 --> 00:19:27.735 surged by 60% in 2024, raising concerns about 302 00:19:27.735 --> 00:19:31.335 broader economic impact, early stage funding, and particularly early 303 00:19:31.335 --> 00:19:34.935 stage funding in AI is slowing. And startups are 304 00:19:34.935 --> 00:19:38.590 taking longer to close series b rounds with the median time reaching 305 00:19:38.590 --> 00:19:41.650 28 months in 2024, highest in over a decade. 306 00:19:42.350 --> 00:19:46.190 Many 2021 series a startups face now 307 00:19:46.190 --> 00:19:49.890 a funding cliff as they struggle to secure follow on funding. 308 00:19:52.085 --> 00:19:55.765 Zooming in on Europe, the, EU's Digital Markets 309 00:19:55.765 --> 00:19:59.525 Act is a new take on tech regulation. Yeah, that 310 00:19:59.525 --> 00:20:02.665 is like a a a topic for the connoisseurs 311 00:20:02.885 --> 00:20:06.485 there, but, we have more, information about 312 00:20:06.485 --> 00:20:10.270 that in the show notes, deeper links. McKinsey reports a search in 313 00:20:10.270 --> 00:20:13.950 European deep tech investments. Europe now, accounts for 314 00:20:13.950 --> 00:20:17.490 19% of global funding, expected to grow 25 to 35% 315 00:20:17.870 --> 00:20:21.675 by 2030. And, yeah, meaning that 316 00:20:21.675 --> 00:20:24.655 deep tech is Europe's chance at global innovation leadership. 317 00:20:25.435 --> 00:20:29.115 And, we found 2 takes on venture 318 00:20:29.115 --> 00:20:32.795 debt on the Sifted website. Venture debt 319 00:20:32.795 --> 00:20:36.529 is surging in Europe with €18,700,000,000 raised 320 00:20:36.529 --> 00:20:40.370 in the first half of twenty twenty four, signaling an upcoming m and 321 00:20:40.370 --> 00:20:43.970 a wave. Climate Tech and Fintech are thriving while start ups 322 00:20:43.970 --> 00:20:47.605 brace for strategic acquisitions, And venture 323 00:20:47.605 --> 00:20:51.445 tech sorry. Venture depth is on track for a record 324 00:20:51.445 --> 00:20:53.465 year in Europe with 18.7, 325 00:20:55.044 --> 00:20:58.565 being raised in h one, just another source 326 00:20:58.565 --> 00:21:02.370 that we also linked to in the show 327 00:21:02.370 --> 00:21:06.210 notes, emphasizing a bit more that the surge is driven not only by 328 00:21:06.210 --> 00:21:08.549 Fintech, but also by green tech giants. 329 00:21:10.049 --> 00:21:13.830 Zooming in even more on Switzerland and the Swiss ecosystem, 330 00:21:14.370 --> 00:21:18.195 Swiss startups raised 1,100,000,000 Swiss francs 331 00:21:18.195 --> 00:21:22.035 in the first half of twenty twenty four with biotech here leading 332 00:21:22.035 --> 00:21:25.255 the charge despite an overall 9.5% decline. 333 00:21:25.715 --> 00:21:29.555 Early stage investment surge, particularly in AI and energy, while 334 00:21:29.555 --> 00:21:31.495 late stage funding lagged. 335 00:21:33.130 --> 00:21:36.890 Moving on to the neighbor in the north, us, 336 00:21:36.890 --> 00:21:40.730 I would say, Germany. The ZEV index reveals the 337 00:21:40.730 --> 00:21:44.350 steepest decline in economic expectations for Germany in 2 years. 338 00:21:44.865 --> 00:21:48.245 The, outlook drops despite stable condition 339 00:21:48.465 --> 00:21:51.765 while the US and China face worsening evaluations. 340 00:21:52.625 --> 00:21:56.225 Inflation expectations remain stable, though. And then we 341 00:21:56.225 --> 00:21:59.000 always talk about it each month. The, 342 00:22:00.100 --> 00:22:03.620 E4Geschefsklima index, the E4, business 343 00:22:03.620 --> 00:22:06.820 climate index for Germany dropped to 80, 344 00:22:07.220 --> 00:22:09.400 7 point sorry, to 87.0 345 00:22:11.220 --> 00:22:14.515 points in July, down from 88.6 346 00:22:14.975 --> 00:22:18.335 in June. Reasons for that, companies are 347 00:22:18.335 --> 00:22:21.875 increasingly dissatisfied with business, current business, and growing 348 00:22:22.255 --> 00:22:26.059 skeptical about the future. So the 349 00:22:26.120 --> 00:22:29.720 conversations about a deepening economic crisis are still not off the 350 00:22:29.720 --> 00:22:33.480 table here. In general, Germany, start up 351 00:22:33.480 --> 00:22:37.100 seen as waiting on promises. Only 22 of 58 initiatives 352 00:22:37.240 --> 00:22:40.895 have been delivered by the government. And, yeah, there's also 353 00:22:40.895 --> 00:22:44.575 another ongoing conversation about what can the federal government do in 354 00:22:44.575 --> 00:22:47.795 order to improve conditions for the start up scene. 355 00:22:48.895 --> 00:22:52.735 Right now, the, German government coalition is in heavy 356 00:22:52.735 --> 00:22:56.520 waters overall. So the question here also is how much can 357 00:22:56.520 --> 00:23:00.360 they actually still push forward when it comes to a digital 358 00:23:00.360 --> 00:23:04.120 digital economy? What about that has cash 359 00:23:04.120 --> 00:23:07.904 online? Then, this also leads to 360 00:23:07.904 --> 00:23:11.664 the fact that German startups give the government startup policies only 361 00:23:11.664 --> 00:23:15.424 a 4.0, like, a a 4. 362 00:23:15.424 --> 00:23:18.085 That means in Germany, it's grade d, barely passed. 363 00:23:19.360 --> 00:23:21.380 They are especially criticizing, 364 00:23:23.679 --> 00:23:27.519 the red tape, wishing for less bureaucracy and easier access 365 00:23:27.519 --> 00:23:31.279 to public contracts. Time to step 366 00:23:31.279 --> 00:23:34.755 up. Government says not just we, but also 367 00:23:34.755 --> 00:23:38.515 Bitcoin. Bitcoin. And, we bring you content 368 00:23:38.515 --> 00:23:42.294 in English that is otherwise otherwise only available in German. 369 00:23:43.155 --> 00:23:46.595 It's funny that I, claim we bring you content in English, and I can't even 370 00:23:46.595 --> 00:23:50.400 pronounce the word otherwise. Anyway, Germany 371 00:23:50.780 --> 00:23:54.240 fine. Germany's AI landscape 372 00:23:57.340 --> 00:24:00.800 is full of potential, but challenges remain from academic 373 00:24:00.940 --> 00:24:04.675 excellence to VC backed start ups. The road 374 00:24:04.675 --> 00:24:08.355 ahead requires focus on digital skills and innovation. You can dive 375 00:24:08.355 --> 00:24:10.775 deeper into the current AI state in Germany, 376 00:24:12.115 --> 00:24:15.095 yeah, in a, deep read that we have 377 00:24:15.635 --> 00:24:19.350 related, but from a different source and different research, the German 378 00:24:19.350 --> 00:24:23.190 AI startup scene is booming with 687 startups 379 00:24:23.190 --> 00:24:26.950 in 2024, a 35% increase. As always with 380 00:24:26.950 --> 00:24:30.630 these things, it depends a bit on how they are specifically counting, but we are 381 00:24:30.630 --> 00:24:33.850 always interested in the trend lines. So seeing while there's, 382 00:24:34.445 --> 00:24:37.985 a 35% increase is a significant development for us. 383 00:24:38.045 --> 00:24:41.885 Funding challenges persist, nevertheless, pushing, some 384 00:24:41.885 --> 00:24:45.405 to the US. Berlin and Munich lead the funding, but other 385 00:24:45.405 --> 00:24:49.220 cities are catching up. And, the top 27 386 00:24:49.360 --> 00:24:52.960 AI startups are leading innovations from autonomous trucking to 387 00:24:52.960 --> 00:24:56.640 satellite based fire detection. Another report about that 388 00:24:56.640 --> 00:25:00.180 can be found in our show notes. Then we have a blog post on 389 00:25:00.945 --> 00:25:04.705 report. A private equity in the DACH region is g sleeping 390 00:25:04.705 --> 00:25:08.225 giant awakens is the headline and the bottom line 391 00:25:08.225 --> 00:25:11.985 there. And on our blog based on the NGP research, we 392 00:25:11.985 --> 00:25:15.365 found that generative AI and deep tech are driving 393 00:25:15.585 --> 00:25:19.120 GSAV c industry or scene. 394 00:25:19.580 --> 00:25:22.960 And Schleswig Holstein, Germany's northernmost, 395 00:25:24.780 --> 00:25:28.540 state is seeing a start up boom with 37 new start ups and 396 00:25:28.540 --> 00:25:32.205 23. The region experienced a 20% growth, surpassing 397 00:25:32.265 --> 00:25:35.405 the national average. Software here leading the way. 398 00:25:35.705 --> 00:25:39.245 Again, the absolute number is probably not as important 399 00:25:39.385 --> 00:25:43.145 as the trend line here. So maybe you wanna think about spending 400 00:25:43.145 --> 00:25:46.765 your time on the Baltic or Northern Sea. 401 00:25:47.590 --> 00:25:51.050 That was a lot of yapping from me. Let's move on to hubs 402 00:25:51.430 --> 00:25:55.270 and to let me hand it over to you. Yes. As always, we 403 00:25:55.270 --> 00:25:58.570 want to highlight hidden gems of general start up interest, 404 00:25:59.190 --> 00:26:01.770 what international press does not covered. 405 00:26:02.875 --> 00:26:06.715 This time, we tried our utmost to focus on as many 406 00:26:06.715 --> 00:26:10.395 cities as possible, and you'll hear there's a lot. And the other of the 407 00:26:10.395 --> 00:26:13.934 news is simply the way we found them. Our former guest, 408 00:26:14.235 --> 00:26:17.510 Frankfurt Rhein Main, Our former guest, compredict 409 00:26:17.810 --> 00:26:21.110 raises 50,000,000 US dollars in a series b funding. 410 00:26:21.410 --> 00:26:25.250 We'll have an interview with them later in fall when there will be more news 411 00:26:25.250 --> 00:26:29.030 to share. Fastbow, we also had them in our interview, 412 00:26:30.195 --> 00:26:33.095 on the takeover from FreshBooks, the Canadian unicorn. 413 00:26:33.554 --> 00:26:37.335 Now the founder, Rene, buys the shares back, 414 00:26:37.635 --> 00:26:41.475 regaining independence. Cheers to your new beginning. Here's the link 415 00:26:41.475 --> 00:26:45.210 in the show notes. And also, Rene promised us us an interview on his 416 00:26:45.210 --> 00:26:49.050 management buyout. Minds BioNTech remote reports 417 00:26:49.050 --> 00:26:52.890 positive phase 2 data on its mRNA cancer drug 418 00:26:52.890 --> 00:26:56.430 in combo with Regen Hohns therapy 419 00:26:56.570 --> 00:26:59.550 promising results, but more details awaited. 420 00:27:00.385 --> 00:27:04.225 CoupLens. Sudoui acquires Fox Education and raises 421 00:27:04.225 --> 00:27:07.985 a further €20,000,000 according to High-tech Cunha 422 00:27:07.985 --> 00:27:11.745 Fund HTGF. Hamburg, Planckraft, the 423 00:27:11.745 --> 00:27:15.470 Hamburg based leader in craft industry digitalization, has 424 00:27:15.470 --> 00:27:19.170 raised €12,000,000 in a series a funding 425 00:27:19.390 --> 00:27:22.990 led by Kreedom. They'll use the funds to expand their 426 00:27:22.990 --> 00:27:26.670 contract, their OS, and go beyond the DACH region. Congrats to the 427 00:27:26.670 --> 00:27:29.625 team. Hamburg based MRGEmergeacquies 428 00:27:32.165 --> 00:27:35.865 Max Bounty, enhancing its global reach in commerce 429 00:27:36.005 --> 00:27:39.465 advertising. This strategic move 430 00:27:39.525 --> 00:27:42.510 strengthened merge 431 00:27:43.210 --> 00:27:46.990 merge offerings in key markets and boost its expertise 432 00:27:47.210 --> 00:27:50.910 in CPL CPA, CPL, and CPI campaigns. 433 00:27:52.010 --> 00:27:55.850 Heilbronn, the city where a billionaire, the founder 434 00:27:55.850 --> 00:27:59.325 of Lidl, Dieter Schwarz, is located. Dieter 435 00:27:59.325 --> 00:28:03.085 founder, Dieter Schwarz, has rebranded Zukunft von 436 00:28:03.085 --> 00:28:06.765 Heipron as the 11 Zed Ventures, shifting 437 00:28:06.765 --> 00:28:10.385 focus to AI, digitalization, and deep tech startups 438 00:28:10.830 --> 00:28:14.669 with plans to invest in 75 to a 100 startups by the 439 00:28:14.669 --> 00:28:18.429 end of the decade. Manheim or Sapiens, we already 440 00:28:18.429 --> 00:28:22.270 talked about them, a 110,000,000 funded. Congratulations. The 441 00:28:22.270 --> 00:28:25.490 rounder slide, by the way, by Goldman Sachs, and they already, 442 00:28:26.455 --> 00:28:30.235 are used by 1,300 clients globally. 443 00:28:31.495 --> 00:28:34.554 Aachen, the city with the 2 a's, Potempi 444 00:28:34.855 --> 00:28:38.215 secures 20,000,000 from EIB to advance its 445 00:28:38.215 --> 00:28:41.730 groundbreaking utembo device 446 00:28:42.190 --> 00:28:45.650 aimed at protecting patients' brains during heart procedures. 447 00:28:46.910 --> 00:28:49.570 Constance. Niemi 448 00:28:50.270 --> 00:28:53.630 secures 30,000,000 from Invoce, a supercharged AI 449 00:28:53.630 --> 00:28:55.945 governance, and model ops empowering 450 00:28:57.445 --> 00:29:00.345 everyone to harness data with their open source 451 00:29:00.885 --> 00:29:04.505 platform. Kinne is shaping the future of data science. 452 00:29:04.645 --> 00:29:08.100 By the way, CNIME is a acronym something with 453 00:29:08.100 --> 00:29:11.800 constant. I don't remember from top of my mind. Hyder based 454 00:29:12.340 --> 00:29:16.180 InsurTech GetSafe. We talked about that frequently, has reached 455 00:29:16.180 --> 00:29:19.960 profitability in its core insurance business for the first time. 456 00:29:20.075 --> 00:29:23.775 Thanks to high automation and customer service and claims processing, 457 00:29:24.235 --> 00:29:27.055 they aim for full profitability in 2025. 458 00:29:28.555 --> 00:29:32.235 Ebersbach, and that that's the one I had to look up. It's around 30 459 00:29:32.235 --> 00:29:35.879 minutes by car from Dresden. Demikan, a Saxon 460 00:29:35.879 --> 00:29:39.320 startup, has become the 1st German company to receive 461 00:29:39.320 --> 00:29:43.159 an unlimited license to grow medical cannabis under 462 00:29:43.159 --> 00:29:46.700 the new cannabis act. This marks a major step, 463 00:29:47.080 --> 00:29:50.575 Augsburg. A major setback for 464 00:29:50.575 --> 00:29:54.355 Rocket Factory Augsburg, RFA, as the RFA 465 00:29:54.495 --> 00:29:57.855 1 rocket suffered a massive explosion during a test in 466 00:29:57.855 --> 00:30:01.455 Scotland. The incident delays their plans the team is determined to 467 00:30:01.455 --> 00:30:04.180 push forward. Tubingen, 468 00:30:05.120 --> 00:30:08.640 HIPAA HIPAA Reginex, a 469 00:30:08.640 --> 00:30:12.100 Tubingen based Klingel stage company, raised 470 00:30:12.400 --> 00:30:15.375 15,000,000 in CRC funding led by 471 00:30:15.935 --> 00:30:19.375 Visalios Bio Capital 4. The funds will advance their 472 00:30:19.375 --> 00:30:21.555 liver disease therapy candidate. 473 00:30:23.135 --> 00:30:26.655 Hanover Hanover based Hero, all in capital letters, 474 00:30:26.655 --> 00:30:30.270 secure 40,000,000 in series b to power tradesmen 475 00:30:30.490 --> 00:30:34.330 SME across Europe. With new funding, hero aims to 476 00:30:34.330 --> 00:30:37.870 streamline financial transactions and expand its 477 00:30:37.930 --> 00:30:41.595 SaaS platform. Oh, Chris, you 478 00:30:41.595 --> 00:30:45.355 wanna take over Austria and Switzerland? Yeah. Guys, as I said, a 479 00:30:45.355 --> 00:30:48.794 lot of very small cities here. Yeah. So, 480 00:30:48.794 --> 00:30:52.335 yeah, ecosystem in Austria and Switzerland, this is rather short today. 481 00:30:52.475 --> 00:30:56.250 In Austria, we see that, Vienna based EDI 482 00:30:56.470 --> 00:31:00.150 provider, Ecosio, has been acquired by the 483 00:31:00.150 --> 00:31:03.130 US software giant Vertex in a deal worth up to $180,000,000. 484 00:31:04.470 --> 00:31:08.295 The acquisition aims to create a seamless compliance management platform now. 485 00:31:08.695 --> 00:31:12.535 And in Switzerland, we tracked more than a 160,000,000 US dollar start ups 486 00:31:12.535 --> 00:31:16.375 investments. We will tell you more about that later in the details because now 487 00:31:16.375 --> 00:31:19.755 we are moving on to the general news, tech news, company news section. 488 00:31:21.920 --> 00:31:25.760 First off, VC news, new funds in case you're looking for money, also only 489 00:31:25.760 --> 00:31:29.220 a selection. VCs are navigating a tough fundraising 490 00:31:29.440 --> 00:31:33.280 environment in 2024 with some opting for smaller, more focused funds 491 00:31:33.280 --> 00:31:36.975 while giants continue to grow is one of the reports that we found 492 00:31:37.215 --> 00:31:40.735 that asks, will the trend towards bigger rounds 493 00:31:40.735 --> 00:31:44.434 push fund sizes even higher? And, 494 00:31:45.455 --> 00:31:49.075 UVC Partners just closed their 4th round, 495 00:31:51.080 --> 00:31:53.259 their 4th fund, I'm sorry, at €250,000,000 496 00:31:54.600 --> 00:31:58.440 smashing records with a quick and oversubscribed round. They are doubling 497 00:31:58.440 --> 00:32:01.340 down now on on deep tech, climate tech, mobility, 498 00:32:02.120 --> 00:32:05.625 and AI startups in 499 00:32:05.625 --> 00:32:07.085 Europe. And, 500 00:32:09.145 --> 00:32:12.985 yeah, this is this is what we see for 501 00:32:12.985 --> 00:32:16.505 the funding. We move on to green tech with you, 502 00:32:16.505 --> 00:32:19.980 Joe. Green tech news. Big news for Europe's 503 00:32:20.040 --> 00:32:23.880 green future. EIB, the European Investment Bank, 504 00:32:23.880 --> 00:32:27.559 is teaming up with Deutsche Bank to boost wind energy with a 505 00:32:27.559 --> 00:32:31.320 5,000,000,000, yes, billion euro initiative starting with a 506 00:32:31.320 --> 00:32:34.835 1,000,000,000 guarantee for wind projects. 507 00:32:35.615 --> 00:32:39.215 Also, we found the EU climate tech scene is heating 508 00:32:39.215 --> 00:32:40.595 up with €18,300,000,000 509 00:32:42.975 --> 00:32:46.735 raised in 2023. These top investors are leading 510 00:32:46.735 --> 00:32:50.279 the charge toward a greener future. Check out the 511 00:32:50.279 --> 00:32:53.659 most active backers of climate innovation. 512 00:32:54.200 --> 00:32:57.799 EIC Fund, that is the European Investment Council, so it's a 513 00:32:57.799 --> 00:33:01.419 European Union thing, but this one is based in Germany. 514 00:33:01.799 --> 00:33:05.205 B p BPI France, Antler from Singapore, 515 00:33:05.425 --> 00:33:09.185 Speedinvest from Austria, SFC Capital from the 516 00:33:09.185 --> 00:33:12.945 UK, Green Angel Ventures from the UK, and again, the 517 00:33:12.945 --> 00:33:16.529 high-tech krone from h t h t 518 00:33:16.529 --> 00:33:20.150 g f from Germany. As always, we have an interview 519 00:33:20.210 --> 00:33:23.669 with the CEO. FinTech 520 00:33:23.890 --> 00:33:27.730 news. Let's get to the FinTech news, shall we? Berlin based Bunch 521 00:33:27.730 --> 00:33:31.485 has secured 15.5 1,000,000,000 US 522 00:33:31.485 --> 00:33:35.185 dollars in a series a funding to modernize private markets 523 00:33:35.325 --> 00:33:38.465 replacing outdated tools with AI driven solutions. 524 00:33:39.565 --> 00:33:43.085 A heist straight out of movie, thieves made 525 00:33:43.085 --> 00:33:46.740 off with €18,000,000 in luxury watches 526 00:33:46.740 --> 00:33:50.040 from Berlin's watchmaker in 2022. The culprits 527 00:33:50.340 --> 00:33:53.880 sentenced to years behind the bars. The loot, 528 00:33:54.020 --> 00:33:57.795 still missing. Note, Watchmaster always try to position 529 00:33:57.795 --> 00:34:01.575 themselves as a fintech, so we include them here in the news. 530 00:34:01.635 --> 00:34:04.775 And Munich's Komatum is offering an exclusive 531 00:34:05.155 --> 00:34:08.375 chance to invest in Klarna shares before 532 00:34:08.835 --> 00:34:12.270 their rumored IPO, promising high returns with 533 00:34:12.270 --> 00:34:16.030 significant fees. Is this really a golden ticket or risky 534 00:34:16.030 --> 00:34:19.390 bet? Read more in the 535 00:34:19.390 --> 00:34:23.230 source link. And, Chris, I want to hand over you to 536 00:34:23.230 --> 00:34:26.414 a little bit money in the general news. Right? Hell, yeah. 537 00:34:27.994 --> 00:34:31.594 In the general news now yeah. Also, a lot of stuff to work 538 00:34:31.594 --> 00:34:34.954 through, so let me get right through it. TSMC is set to break ground on 539 00:34:34.954 --> 00:34:38.255 its 1st European, fab in Dresden, 540 00:34:38.969 --> 00:34:42.810 Germany with investments across Germany, Japan, and the US 541 00:34:42.810 --> 00:34:46.570 now nearing a $100,000,000,000. That 542 00:34:46.570 --> 00:34:50.109 actually just happened yesterday, and the, groundbreaking 543 00:34:51.315 --> 00:34:54.114 I don't know if you call it the groundbreaking. I mean, the the the the 544 00:34:54.114 --> 00:34:57.335 ceremony where all the politicians came together actually even attracted, 545 00:34:58.195 --> 00:35:02.035 Ursula von der Leyen from the European Commission and German chancellor 546 00:35:02.035 --> 00:35:05.680 Olaf Scholz. The whole project is not 547 00:35:05.680 --> 00:35:08.740 without criticism in Germany because, $5,000,000,000 548 00:35:09.440 --> 00:35:12.820 in funding, half of it actually comes from German taxpayers. 549 00:35:13.440 --> 00:35:16.720 And with these things, in the end, you never really know how much they are 550 00:35:16.720 --> 00:35:20.455 aiming how much they are paying off. Once 551 00:35:20.455 --> 00:35:23.815 Unicorns now fall in stars, 7 German several German 552 00:35:23.815 --> 00:35:27.494 startups, including Grover, T Mobility, and Lilium have lost their 553 00:35:27.494 --> 00:35:31.335 $1,000,000,000 valuations. Reasons for that are tough market conditions and 554 00:35:31.335 --> 00:35:34.920 strategic challenges. A more in-depth report about 555 00:35:34.920 --> 00:35:38.140 these devaluations, you can find in the show notes. 556 00:35:39.000 --> 00:35:42.680 Porsche, as is bold move into sustainable mobility with 557 00:35:42.680 --> 00:35:46.060 FlixBus marks a new era for global debt transport, 558 00:35:47.000 --> 00:35:50.625 discover how this strategic investment is set to reshape the future of 559 00:35:50.625 --> 00:35:54.065 mobility, on our blog. I think it's really 560 00:35:54.065 --> 00:35:57.745 interesting to see that for a long time now, German car manufacturers are 561 00:35:57.745 --> 00:36:01.445 really looking into how to diversify, their portfolios 562 00:36:01.905 --> 00:36:04.680 with regards to the future of mobility 563 00:36:06.740 --> 00:36:10.500 and the, obviously, the electric mobility trend, but 564 00:36:10.500 --> 00:36:14.200 also car sharing and new forms of of transportations 565 00:36:14.420 --> 00:36:17.815 and mobility. It's been a conversation for a long time, but probably now 566 00:36:17.815 --> 00:36:21.115 finally bigger moves and bolder moves are being 567 00:36:21.174 --> 00:36:25.015 made. Again, Porsche, they agreed to provide 568 00:36:25.015 --> 00:36:28.394 capital in a battery producer called Valta, 569 00:36:28.809 --> 00:36:31.470 pretty traditional and and well known, 570 00:36:33.289 --> 00:36:37.069 battery producer in Germany. And Walter has a restructuring 571 00:36:37.130 --> 00:36:40.650 deal, so Porsche has their hands there because, also, again, going back 572 00:36:40.650 --> 00:36:44.405 to electric mobility, all those manufacturers now need 573 00:36:44.405 --> 00:36:47.785 those batteries. We see a big move in logistics. 574 00:36:48.085 --> 00:36:51.845 Senda with written with the two n's is set to acquire C. 575 00:36:51.845 --> 00:36:55.365 H. Robinson's European Land Transport Business, creating a 576 00:36:55.365 --> 00:36:58.809 €1,400,000,000 giant in the industry, a deal that 577 00:36:58.809 --> 00:37:02.329 boosts senders reach and strengthens strengthens 578 00:37:02.329 --> 00:37:05.950 also their digital logistics platform. We 579 00:37:06.089 --> 00:37:09.930 sneak in somewhat medtech research here. Researchers at the University of 580 00:37:09.930 --> 00:37:13.565 Mainz close to where you are discovered a replacement for Fentanyl 581 00:37:14.025 --> 00:37:17.865 that has less severe side effects. Obviously, a very dramatic 582 00:37:17.865 --> 00:37:21.465 and problematic, influence, especially here in the US, but also in other 583 00:37:21.465 --> 00:37:25.160 countries. We found news about German 584 00:37:25.160 --> 00:37:28.920 AI startup Aleph Alpha, who once claimed its language 585 00:37:28.920 --> 00:37:32.619 model could rival Chegg GPT. But despite raising $500,000,000 586 00:37:33.480 --> 00:37:36.920 and initial excitement, the tech now seems really outdated and 587 00:37:36.920 --> 00:37:40.575 underwhelming. Industry insiders say its focus on 588 00:37:40.575 --> 00:37:44.415 niche solutions also limits the growth. We got 589 00:37:44.415 --> 00:37:47.315 several articles about this. 590 00:37:49.295 --> 00:37:52.580 So because there's also discussions with the, 591 00:37:52.880 --> 00:37:56.580 parent company, Schwarz Group, that has significant 592 00:37:56.720 --> 00:38:00.480 influence in Aleph Alpha. And so the question 593 00:38:00.480 --> 00:38:03.540 really becomes whether those investors are overshadowing innovations. 594 00:38:05.055 --> 00:38:08.734 And, yeah, we also have the rise and struggles of Aleph Alpha, 595 00:38:08.734 --> 00:38:12.515 Germany's AI. Hope we have more in an original 596 00:38:12.575 --> 00:38:16.095 report on our website there too. Venture capital could be 597 00:38:16.095 --> 00:38:19.800 also NATO's ultimate weapon. If you wanna 598 00:38:19.800 --> 00:38:23.100 know why, check the show notes. Big news in the 599 00:38:23.240 --> 00:38:27.000 SAAS world. Semrush, a software as a 600 00:38:27.000 --> 00:38:30.540 service company, just acquired Munich based right with 601 00:38:31.545 --> 00:38:35.145 y instead of an I to supercharge their website user 602 00:38:35.145 --> 00:38:38.685 experience game. Salesforce snaps up Berlin based 603 00:38:38.905 --> 00:38:42.605 Spokai AI to supercharge Slack AI, 604 00:38:43.145 --> 00:38:46.799 another step towards train taming the info overload in the 605 00:38:46.799 --> 00:38:50.339 workplace. Star entrepreneur Philip Schroeder 606 00:38:50.400 --> 00:38:53.140 from Einskommafunf, 1.5 607 00:38:54.160 --> 00:38:57.855 relating to the climate goal, promoted a now defunct 608 00:38:57.855 --> 00:39:01.555 crypto project through Cap Inside and is facing potential liability 609 00:39:02.255 --> 00:39:06.095 after investors suffered losses. Question now is, 610 00:39:06.095 --> 00:39:09.420 could this lead to a bigger legal reckoning in the crypto world? 611 00:39:09.819 --> 00:39:13.579 And TB Auctions has acquired German industrial auction house, 612 00:39:13.579 --> 00:39:17.339 Surplex, expanding its reach across Europe, 613 00:39:17.339 --> 00:39:20.780 a strategic move that now enhances TB Auctions' presence in 614 00:39:20.780 --> 00:39:24.545 key markets. This is all this and 615 00:39:24.545 --> 00:39:27.684 now some creative destruction 616 00:39:27.984 --> 00:39:31.664 news. It is. I was 617 00:39:31.664 --> 00:39:35.424 just checking because the first news is HOFHEIM, pretty 618 00:39:35.424 --> 00:39:38.940 close to Frankfurt based startup Solarnativ, files for 619 00:39:38.940 --> 00:39:42.720 insolvency, putting 130 jobs at risk. Despite 620 00:39:42.780 --> 00:39:46.560 innovative solar tech, they couldn't secure enough investors. 621 00:39:46.780 --> 00:39:50.540 Buyers needed by August to avoid shutdown and was just 622 00:39:50.540 --> 00:39:54.214 checking, but there's no news at the time of the recording. 623 00:39:54.434 --> 00:39:58.194 Berlin based catering start up. My My Catering has 624 00:39:58.194 --> 00:40:01.654 fight for insolvency, but is actively seeking investors 625 00:40:01.714 --> 00:40:04.855 to to secure its futures. Despite the 626 00:40:05.310 --> 00:40:08.910 setback, operations will continue with 14 jobs and supplier 627 00:40:08.910 --> 00:40:12.590 partnerships intact, writes to you online. Berlin 628 00:40:12.590 --> 00:40:16.190 based b to b startup, Magaloop, a marketplace for 629 00:40:16.190 --> 00:40:18.770 store owners, wholesalers, and manufacturers, 630 00:40:20.855 --> 00:40:24.395 Asphalt for Insolvency founded in 2018, it had 631 00:40:24.615 --> 00:40:28.155 raised around €20,000,000 from investors like 632 00:40:28.295 --> 00:40:31.915 fuse future partners and Bitbooger Ventures. 633 00:40:32.615 --> 00:40:36.069 Insolvency also strikes Berlin based so 634 00:40:36.150 --> 00:40:39.670 solytic, a software start a solar software 635 00:40:39.670 --> 00:40:43.349 startup, and Hamburg's Additive, a robotic 3 636 00:40:43.349 --> 00:40:45.770 d printing construction firms. 637 00:40:48.245 --> 00:40:51.925 Evocortex, a company specialized in 638 00:40:51.925 --> 00:40:55.225 autonomous transportation systems for industry 4.0 639 00:40:55.605 --> 00:40:58.905 has to file for insolvency. The firm 640 00:40:59.045 --> 00:41:02.805 known for its mobile robots and patented sensor 641 00:41:02.805 --> 00:41:06.460 technologies aim to continue. Nothing we found 642 00:41:06.460 --> 00:41:09.760 in Austria and in Switzerland. Marinomate 643 00:41:10.700 --> 00:41:14.220 Biotech, marinomate Biotech faces restructuring with 644 00:41:14.220 --> 00:41:17.579 €25,000,000 in liabilities. Filing to 645 00:41:17.579 --> 00:41:21.075 reorganize potential layoffs, and asset sales are 646 00:41:21.075 --> 00:41:24.375 likely stuck down from 140 to 10. 647 00:41:24.755 --> 00:41:28.515 More details on trending topics. There was a 648 00:41:28.515 --> 00:41:32.170 lot of bad news. Chris, you wanna end with the good news? Let's end on 649 00:41:32.170 --> 00:41:35.790 a high note with more news about successful fundraising and exits. 650 00:41:36.250 --> 00:41:39.710 As always, please note this is just like a a small selection. 651 00:41:39.930 --> 00:41:42.910 We only included some fundraising above €5,000,000 652 00:41:43.610 --> 00:41:46.865 or US dollars. And 653 00:41:47.165 --> 00:41:50.785 also this month, we had the good problem that many announcements 654 00:41:51.485 --> 00:41:55.265 came, in so that we could not include all funds raised. 655 00:41:57.245 --> 00:42:01.020 Let's go. Berlin based Myne, m 656 00:42:01.020 --> 00:42:04.620 y n e, secures €40,000,000 to expand its co 657 00:42:04.620 --> 00:42:07.980 ownership vacation property model into Portugal and 658 00:42:07.980 --> 00:42:11.820 Croatia. Demand seems high, and Myne aims for profitability already this 659 00:42:11.820 --> 00:42:15.455 year and, vacation making vacation home ownership 660 00:42:15.455 --> 00:42:18.435 more accessible. Munich's 1 data secures 661 00:42:19.135 --> 00:42:22.655 €32,000,000 in a series b 662 00:42:22.655 --> 00:42:26.255 extension to boost AI powered data management and 663 00:42:26.255 --> 00:42:29.890 expand globally. They are powering blue chip giants like 664 00:42:29.890 --> 00:42:33.410 BioNTech and trying to work on 665 00:42:33.410 --> 00:42:36.710 data product management. Creators of 666 00:42:36.850 --> 00:42:40.630 Stable Diffusion just launched Black Forest Labs 667 00:42:40.690 --> 00:42:44.305 with $31,000,000 in funding to power Flux 668 00:42:44.445 --> 00:42:48.285 Point 1, a new AI image generator that's shaking up the 669 00:42:48.285 --> 00:42:52.045 open source scene. They're hoping to for all of 670 00:42:52.045 --> 00:42:55.870 us to get ready for faster creativity. Life EO raises 671 00:42:55.870 --> 00:42:59.650 €25,000,000 in the series b funding. Berlin's Checkly 672 00:42:59.790 --> 00:43:03.630 raises €18,400,000, a bit of a queer sum, 673 00:43:03.630 --> 00:43:07.465 but this is because it's 20,000,000 US dollars Then series b 674 00:43:07.465 --> 00:43:10.984 to revolutionize website monitoring with 10 times faster issue 675 00:43:10.984 --> 00:43:14.665 resolution through monitoring as code. Quick 676 00:43:14.665 --> 00:43:18.505 detection, less downtime, happier customers, their claim for 677 00:43:18.505 --> 00:43:21.940 fame. Then Finn Hensel, founder and CEO of Sanity 678 00:43:21.940 --> 00:43:25.460 Group, who was awarded the entrepreneur of the year award in 679 00:43:25.460 --> 00:43:29.220 2021, has once again proven 680 00:43:29.220 --> 00:43:32.945 that his fundraising prowess in the German cannabis 681 00:43:33.005 --> 00:43:36.845 industry is really big. We had the pleasure of interviewing him after his 682 00:43:36.845 --> 00:43:39.665 latest achievement in that 13 sorry, a €17,000,000 683 00:43:40.285 --> 00:43:44.045 deal with Organigram Holdings. Yeah. And 684 00:43:44.045 --> 00:43:47.880 you can read more about how his deal marks the beginning of a 685 00:43:47.880 --> 00:43:49.740 new era for cannabis in Europe. 686 00:43:51.640 --> 00:43:55.160 And we have a full on interview with him. Berlin's family Fintech 687 00:43:55.160 --> 00:43:58.695 app, Bling, secures 12 $1,000,000 in 688 00:43:58.695 --> 00:44:02.135 series a, and they want to simplify finances and mobile 689 00:44:02.135 --> 00:44:04.475 plans for families. Partnerships, 690 00:44:06.055 --> 00:44:09.735 they emphasize strong partnerships and are on a mission to ease 691 00:44:09.735 --> 00:44:13.230 parents' lives. Munich based 692 00:44:13.289 --> 00:44:16.809 Biometa secures €6,500,000 in seed 693 00:44:16.809 --> 00:44:19.470 funding to power its generative AI platform. 694 00:44:20.650 --> 00:44:24.410 They're working on enzyme development for industries from medicine 695 00:44:24.410 --> 00:44:28.005 to agriculture, so a startup working 696 00:44:28.005 --> 00:44:31.845 in bio innovation and biotech. Varm, v 697 00:44:31.845 --> 00:44:35.685 a r m, secures €5,700,000 seed 698 00:44:35.685 --> 00:44:39.430 funding to revolutionize insulation 699 00:44:39.730 --> 00:44:42.390 and drive decarbonization in Europe. 700 00:44:43.650 --> 00:44:47.329 Big problem in when it comes to climate change, we 701 00:44:47.329 --> 00:44:50.869 have so often just looking for mobility, but buildings 702 00:44:51.595 --> 00:44:55.375 are also losing a lot of energy and creating a huge problem 703 00:44:55.915 --> 00:44:59.375 when it comes to, carbon emissions. 704 00:44:59.915 --> 00:45:03.755 So Varm's mission is to insulate 1,000,000 homes in 10 years. 705 00:45:03.755 --> 00:45:07.450 They want to start in Germany, and 706 00:45:07.509 --> 00:45:11.190 now got money for that. And Katja just took a bigger 707 00:45:11.190 --> 00:45:14.250 bite of the breakfast game. Katja is a German, 708 00:45:15.190 --> 00:45:17.190 sweet and candy company, 709 00:45:18.835 --> 00:45:22.455 because now they increased their stake in My Muesli to 56%. 710 00:45:22.915 --> 00:45:26.295 My Muesli, big German startup success story, basically, 711 00:45:26.675 --> 00:45:29.895 allowing you to individualize your granola in the morning. 712 00:45:31.950 --> 00:45:35.710 And, yeah, so I guess it's an investment that makes sense for 713 00:45:35.710 --> 00:45:39.390 Katya. Nothing newsworthy we found over the whole 714 00:45:39.390 --> 00:45:42.830 summer in Austria. They were all at the beautiful lakes in Carinthia, I 715 00:45:42.830 --> 00:45:46.530 guess. But, some more stuff from Switzerland, 716 00:45:48.065 --> 00:45:50.885 we found big win for biotech as 717 00:45:52.464 --> 00:45:56.244 acenoyron, a s c e, neuron, 718 00:45:56.865 --> 00:46:00.300 closes a $100,000,000 series c round to push 719 00:46:00.540 --> 00:46:04.080 their Alzheimer's drug ASN 51 into phase 2 trials. 720 00:46:04.380 --> 00:46:08.140 So, yeah, obviously, huge hopes in that field in order 721 00:46:08.140 --> 00:46:11.680 to, lessen the load of a deadly disease. 722 00:46:11.980 --> 00:46:15.615 With top investors now on board, the future of neurodegenerative treatment 723 00:46:15.615 --> 00:46:19.295 looks a bit more promising. Then Zurich's Lakera just raised 724 00:46:19.295 --> 00:46:22.895 18,400,000 euros, $20,000,000 to secure Gen AI 725 00:46:22.895 --> 00:46:25.955 apps, because 726 00:46:26.815 --> 00:46:30.255 in the AI world, security isn't just an option. It's a necessity, as they 727 00:46:30.255 --> 00:46:33.530 say. And, Zurich based Libattion, 728 00:46:33.990 --> 00:46:37.590 l or Libattion. All these 729 00:46:37.590 --> 00:46:41.350 names, guys. Come on. Please don't mock us. Find 730 00:46:41.350 --> 00:46:44.810 find better names. Libattion, 731 00:46:48.655 --> 00:46:52.015 wanting to be a leader in upcycled energy storage, they raised 732 00:46:52.015 --> 00:46:55.315 €14,000,000 to decarbonize that industry. 733 00:46:56.015 --> 00:46:59.474 Zintara, a Zurich based semiconductor 734 00:46:59.775 --> 00:47:03.260 innovator, raised $11,000,000 led by V Square 735 00:47:03.260 --> 00:47:06.940 Adventures, with the money they want to 736 00:47:06.940 --> 00:47:10.540 launch their patent pending Compute REM for embedded 737 00:47:10.540 --> 00:47:14.000 computing. Limitec scores a €10,000,000 738 00:47:15.020 --> 00:47:18.835 win partnering with ValNeva to fast track the 739 00:47:18.835 --> 00:47:22.375 world's, most advanced shingles 740 00:47:22.515 --> 00:47:26.275 vaccine. So also hoping for 741 00:47:26.275 --> 00:47:29.575 medtech innovation there. And Swiss 742 00:47:29.715 --> 00:47:33.420 health startup health tech startup, Sanos, raises 743 00:47:33.420 --> 00:47:37.100 €7,000,000 led by Google Ventures and Partech to expand its dental 744 00:47:37.100 --> 00:47:40.540 platform, Roger. They're working in patient 745 00:47:40.540 --> 00:47:44.295 management. That was a wrap, Chris. Did you notice that the 746 00:47:44.295 --> 00:47:48.135 creative destruction is getting shorter and shorter by now and the 747 00:47:48.135 --> 00:47:51.595 fundraising is getting long again even though we we totally 748 00:47:51.734 --> 00:47:55.510 cut a lot out here? I see there's a good sign and hope the 749 00:47:55.510 --> 00:47:59.110 economy does not go go as bad as it looks right 750 00:47:59.110 --> 00:48:02.870 now. Wonderful. Oh, yes. And we do have a lot of stay 751 00:48:02.870 --> 00:48:06.410 ahead of the curve. We have a new feedback form. Please give us feedback. 752 00:48:06.630 --> 00:48:10.250 This one is not only for celebrate. Io in general, but you can also 753 00:48:10.470 --> 00:48:14.125 give feedback on the individual episodes. 754 00:48:14.345 --> 00:48:18.025 There is also, option to contact and follow 755 00:48:18.025 --> 00:48:21.865 both of us on LinkedIn and Twitter. Guys, thank 756 00:48:21.865 --> 00:48:25.640 you very much, Chris. We may tell the audience that it's now one and 757 00:48:25.640 --> 00:48:29.400 a half hours after we originally wanted to start our news 758 00:48:29.400 --> 00:48:32.780 recording, and we're recording now for more than 45 minutes. 759 00:48:33.000 --> 00:48:36.760 Guys, it was a pleasure. Thank you very much. We will be back, Chris and 760 00:48:36.760 --> 00:48:40.555 I, together with the next news on October 3rd. Thank 761 00:48:40.555 --> 00:48:43.455 you very much, and have a good day. Bye bye. Bye bye.