Latest / Deep Tech Germany – AI, Robotics & Frontier Innovation by Startuprad.io™ / Europe's Billion-Euro Tech Engines: DACH Unicorn Tracker, Spring 2025
Transcript
- WEBVTT 00:00:00.000 --> 00:00:20.080 Music. 00:00:20.186 --> 00:00:22.946 Hello and welcome everybody this is joe from 00:00:22.946 --> 00:00:25.986 startup rate.io the authority on german swiss and 00:00:25.986 --> 00:00:28.966 austrian startups and today we are bringing you something 00:00:28.966 --> 00:00:32.206 very special our update of the 2025 00:00:32.206 --> 00:00:39.086 unicorn tracker for the dach region we ran a regular unicorn tracker in parallel 00:00:39.086 --> 00:00:44.926 to our startup news during corona since there were so many newly coined unicorns 00:00:44.926 --> 00:00:50.026 so for all of you we bring the format back here on God Friday. 00:00:50.286 --> 00:00:52.066 If you celebrate it, happy Easter. 00:00:52.746 --> 00:00:58.146 And we have a plan to get together to do a new unicorn tracker towards the end of the year. 00:00:58.386 --> 00:01:01.746 Chris, how would a new unicorn tracker for Thanksgiving sound to you? 00:01:02.466 --> 00:01:06.786 Yes, let's do it. I mean, so much is changing. Let's do it. Let's do it. 00:01:07.346 --> 00:01:12.426 Think of this episode as a kind of status update. Keep in mind that no one is 00:01:12.426 --> 00:01:16.506 required to report either reaching or losing unicorn status. 00:01:16.546 --> 00:01:20.706 So there's always some guesswork involved as we 00:01:20.706 --> 00:01:24.426 always rely on other sources here and correlate them on 00:01:24.426 --> 00:01:29.506 most unicorns there's an agreement but not all we will also follow this episode 00:01:29.506 --> 00:01:34.566 with extensive blog posts where you can learn more about the unicorns we mentioned 00:01:34.566 --> 00:01:39.286 here we've done the legwork to gather unicorns former unicorns and some overlooked 00:01:39.286 --> 00:01:43.386 champions in german-speaking startup scene with Easter around the corner, 00:01:43.546 --> 00:01:46.186 what better time to bring you a shiny new unicorn? 00:01:46.706 --> 00:01:50.606 And as we're already speaking of week, Chris, hey, welcome, my man. 00:01:50.986 --> 00:01:52.146 Today, not in New York, right? 00:01:52.586 --> 00:01:56.726 I snuck into it already. No, I'm talking to you today from Düsseldorf in Western 00:01:56.726 --> 00:02:02.046 Germany, where I am actually on my little Easter break and traveling through the country. 00:02:03.506 --> 00:02:07.686 Yeah, and looking ahead today, we got a great episode. We are talking fresh 00:02:07.686 --> 00:02:12.426 unicorns, cautionary tales, A few stealth giants that rarely make headlines, 00:02:12.546 --> 00:02:16.266 but are a bit in the background and nevertheless, are hugely successful. 00:02:16.566 --> 00:02:20.346 And we are giving you, our aim is to give you like a complete state of play 00:02:20.346 --> 00:02:22.406 for the DACH startup ecosystem. 00:02:22.786 --> 00:02:26.946 As always, we explain it. DACH is Deutschland, Österreich, Schweiz, 00:02:27.166 --> 00:02:29.306 Germany, Switzerland, Austria, Germany, Austria, Switzerland. 00:02:30.826 --> 00:02:34.826 With most of these, we cannot give you more than just a few sentences due to 00:02:34.826 --> 00:02:39.146 the number of companies and the sheer amount of data each company generates. 00:02:40.246 --> 00:02:46.086 In 2024, there was only eGym coined as a new unicorn. 00:02:46.626 --> 00:02:50.866 That makes us hope that for 2025, probably we have more to talk about and we 00:02:50.866 --> 00:02:54.186 probably already have the first new unicorn with quantum systems. 00:02:55.106 --> 00:02:59.546 We are covering 48 unicorns in total. So let's go. Yes, we are calling out those 00:02:59.546 --> 00:03:01.006 who lost unicorn status too. 00:03:01.406 --> 00:03:04.966 It's no judgment, just facts. Let's dive in back to you. 00:03:05.323 --> 00:03:09.823 Oh, and I have a reply from Martha from Ohio. 00:03:10.143 --> 00:03:13.923 She reached out to us and asked why Dach, why the C-H at the end. 00:03:14.583 --> 00:03:18.423 The Swiss call themselves something like Confederation Helvenica, 00:03:18.603 --> 00:03:22.883 Helvenica being their own name for Switzerland here. That's why it's Dach. 00:03:23.643 --> 00:03:30.923 And I think in German we just say it because Dach rolls more easily off the tongue than D-C-H-A. 00:03:31.443 --> 00:03:35.103 Yeah, and Dach also means roof in German, so that's about it. 00:03:35.323 --> 00:03:38.543 So let's kick things off with the news addition to the list, 00:03:38.703 --> 00:03:42.603 the one that actually tracked this unicorn tracker or started it. 00:03:43.203 --> 00:03:48.403 Quantum Systems from Gilsing, Germany. I do believe that's pretty close to Munich. 00:03:48.903 --> 00:03:54.983 AI drones, the Munich-based drone tech innovator, hit unicorn status in 2025 00:03:54.983 --> 00:04:03.143 after securing 100 million in Series B funding from Notion Capital and Porsche. 00:04:03.143 --> 00:04:08.423 The recent acquisition of a robot and expansion to Ukraine solidifies their 00:04:08.423 --> 00:04:13.823 lead dual-use defense and commercial AI drones. 00:04:14.623 --> 00:04:18.563 Talking a little bit about logistics and freight tech unicorns here. 00:04:19.643 --> 00:04:24.143 We kick off with logistics tech, one of Dach region's quite powerhouses. 00:04:25.043 --> 00:04:31.403 First up is Forto in Berlin. By the way, also an interview we did by the founder 00:04:31.403 --> 00:04:34.823 and CEO that is now part of the supervisory board. 00:04:34.983 --> 00:04:39.103 They've modernized global freight forwarding with real-time digital platforms, 00:04:39.323 --> 00:04:40.763 simplifying cross-border trade. 00:04:40.923 --> 00:04:43.583 But 2025 brought major changes. 00:04:43.883 --> 00:04:49.823 Layoffs hit a third of their team and founder, Michel Vax, moved to chairman. 00:04:50.063 --> 00:04:53.023 The new CEO, oh, it's a French name? 00:04:53.423 --> 00:04:55.703 Guillaume Petit Perrin. Guillaume Petit Perrin. 00:04:56.563 --> 00:05:04.563 Ah, okay. As he said, it's steering the ship towards profitability while exploring possible sales. 00:05:05.083 --> 00:05:10.823 Yes, right. And then there's Ascender with a 2N, also Berlin-based, 00:05:10.963 --> 00:05:15.743 shaking up full truckload freight across Europe. 00:05:16.243 --> 00:05:20.583 They have acquired CS Robinson's European arm. And now Ascender doubled its 00:05:20.583 --> 00:05:23.043 revenue to 1.4 billion euros. 00:05:23.043 --> 00:05:28.983 They've upgraded leadership, expanded their tech stack with the SenOS platform 00:05:28.983 --> 00:05:32.323 and are now competing in 20 plus countries. 00:05:32.643 --> 00:05:36.443 It's a logistics unicorn scaling like a rocket, one could say. 00:05:38.043 --> 00:05:45.703 And so by now you can probably tell we are giving you an overview of the German unicorns by industry. 00:05:45.943 --> 00:05:52.223 So moving on from logistics and freight tech to mobility and micro mobility. 00:05:53.107 --> 00:05:57.907 Yes. From Freight2People, let's talk mobility flicks. By the way, 00:05:58.107 --> 00:05:59.447 also an interview we did. 00:05:59.987 --> 00:06:03.167 Link in the show notes. In Munich is a standout. 00:06:03.267 --> 00:06:08.127 Not only are they behind Flixbus and FlixTrain, but they also own Greyhound 00:06:08.127 --> 00:06:16.587 in the US. Their 2024 revenues hit 2 billion euros with EQT and Kühne Holding backing them. 00:06:16.767 --> 00:06:21.687 They're expanding globally, including new routes in India and pioneering sustainable 00:06:21.687 --> 00:06:25.827 mobility with solar-powered and hydrogen-powered buses. 00:06:26.527 --> 00:06:32.247 Also in micromobility, or not also because Flix is buses, but in micromobility, 00:06:32.427 --> 00:06:37.807 we see TIA from Berlin. once a micromobility unicorn in and of itself with a 00:06:37.807 --> 00:06:39.767 2 billion euro valuation. 00:06:40.167 --> 00:06:45.467 In 2024, they merged with DOT and are now Europe's largest shared e-scooter 00:06:45.467 --> 00:06:47.667 operator. I guess many people have seen them. 00:06:49.627 --> 00:06:54.307 If they live in a bigger city, they faced heavy layoffs and a declining valuation 00:06:54.307 --> 00:06:57.747 because there really was a boom for these companies. 00:06:57.947 --> 00:07:04.407 And now it's only a few companies left in the market, but their rides now surpass 100 million annually. 00:07:05.787 --> 00:07:10.367 And I would say tier counts as a former unicorn in most lists. 00:07:10.607 --> 00:07:16.387 Also here, what I talk about, Volocopter in Bruchsal, once a flying taxi unicorn, 00:07:16.387 --> 00:07:19.147 they went bankrupt before the Olympic debut. 00:07:19.747 --> 00:07:25.407 China's Wong Feng Group bought them in March 2025 for just 10 million euros, 00:07:25.407 --> 00:07:31.867 making a dramatic end to Germany's first EVTOL unicorn. 00:07:32.587 --> 00:07:40.807 Going into Deep Tech and iHardware, another Deep Tech star is Agile Robots, also Munich. 00:07:41.047 --> 00:07:43.467 They made waves as Germany's first 00:07:43.871 --> 00:07:49.511 robotic unicorn with softbank backing. In 2023, they acquired Franca, 00:07:49.751 --> 00:07:55.051 Emica, and BMW's automation unit Ideal Works. 00:07:55.291 --> 00:07:59.531 They're pushing forward with award-winning robot arms like Yana 3, 00:07:59.871 --> 00:08:02.891 tackling automation in health industry and logistics. 00:08:03.231 --> 00:08:08.511 And just like Agile Robots and BMW, We also have Helsing in Munich, 00:08:08.711 --> 00:08:11.431 taking AI to the battlefield there. 00:08:11.671 --> 00:08:17.711 They raised €450 million in 2024 and are now at a €5 billion valuation, 00:08:18.011 --> 00:08:23.111 so largely significant, developing defense AI for fighter jets and drones. 00:08:24.691 --> 00:08:29.211 Helsing is one of the key players in the Eurofighter upgrade, FACAS program. 00:08:29.851 --> 00:08:33.531 The Baltic expansion shows how serious they are about European security tech. 00:08:33.691 --> 00:08:37.751 And I guess the whole discussion about the future of NATO, Europe investing 00:08:37.751 --> 00:08:43.151 more in its own defense systems in order to be less dependent on the U.S. 00:08:43.211 --> 00:08:45.711 Will probably mean good business for them as well. 00:08:47.731 --> 00:08:51.911 Related to what we are talking now, at least we already dropped BMW. 00:08:52.391 --> 00:08:56.031 We are now looking at auto companies and some overlooked giants there. 00:08:58.131 --> 00:09:01.191 There is Check24 in Munich which is 00:09:01.191 --> 00:09:05.771 a little bit of everything because it's also a website that offers car rentals 00:09:05.771 --> 00:09:12.071 it's a competitor to Booking.com but despite flying under the radar it's a price 00:09:12.071 --> 00:09:18.271 comparison platform that in Germany really is a consumer tech behemoth profitable, bootstrap, 00:09:18.411 --> 00:09:23.511 still a unicorn in 2024 with really aggressive marketing in Germany they gave 00:09:23.511 --> 00:09:26.471 away free football jerseys from the German team. 00:09:26.771 --> 00:09:30.931 And they really got a lot of buzz from that, but also some backlash. 00:09:31.151 --> 00:09:34.531 But Czech 24, definitely one of the German unicorns to watch. 00:09:36.591 --> 00:09:41.871 Also, Autodoc in Berlin, Europe's leading auto parts e-commerce firm. 00:09:42.011 --> 00:09:48.071 In 2024, they reported 1.3 billion, yes, would be euros in revenue, 00:09:48.311 --> 00:09:54.951 a 10% profit margin and a 2.3 billion valuation after Apollo Global invested. 00:09:54.951 --> 00:10:02.811 They are preparing for 2025 IPO and pushing hard into the B2B space with Autodoc Pro. 00:10:03.291 --> 00:10:09.551 Going a little bit into biotech and life science here, there is only one for 00:10:09.551 --> 00:10:11.071 the very simple reason that... 00:10:11.905 --> 00:10:16.045 All lists in Switzerland include this one startup. 00:10:16.465 --> 00:10:23.625 Otherwise, we shipped around noting all the unicorns that are from the biotech space. 00:10:23.765 --> 00:10:27.785 It's much complicated. But if you'd like to get an overview done here, 00:10:27.945 --> 00:10:29.865 we are also happy to do it. 00:10:30.245 --> 00:10:35.305 One prominent player there, as I said, is ADC Therapeutics from Lausanne, Switzerland. 00:10:35.305 --> 00:10:40.925 They specialize in antibody drug conjugates for cancer. 00:10:40.925 --> 00:10:48.105 After 105 million US dollars raised there in 2024, the truck Zylonte, 00:10:48.205 --> 00:10:52.685 something like this, turned profitable. 00:10:52.905 --> 00:10:57.085 But the valuation dropped below unicorn level and their market cap now sits 00:10:57.085 --> 00:11:00.605 at around 150 million. Chris? 00:11:01.505 --> 00:11:06.665 Yeah, so ADC is a really good example of volatility in the biotech sector. 00:11:06.665 --> 00:11:11.765 I mean, if they have been a unicorn and are now sitting around $150 million, you can really see that. 00:11:12.285 --> 00:11:18.385 In our next section, we'll cover climate tech unicorns and why 2025 could be their breakout year. 00:11:18.525 --> 00:11:21.005 Stay tuned for that. But let's take a little breath. 00:11:23.525 --> 00:11:26.845 And say thank you to our sponsor for a little ad break. 00:11:33.905 --> 00:11:43.285 Welcome back from the ad break. So we are moving on to climate tech and renewable energy, as I said. 00:11:43.785 --> 00:11:47.785 For example, we also mentioned them a couple of times in the podcast, 00:11:48.025 --> 00:11:49.205 in the regular podcast already. 00:11:49.385 --> 00:11:54.085 We have 1,5 Grad, 1.5 degrees, if you translate it. 00:11:54.185 --> 00:11:57.445 They are based in Hamburg, definitely another startup to watch. 00:11:57.565 --> 00:12:02.745 They've raised over 450 million euros and acquired solar companies across Europe 00:12:02.745 --> 00:12:06.525 and Australia. They have an energy platform called Heartbeat AI, 00:12:06.845 --> 00:12:11.725 which helps households to buy cheap electricity and then sell it higher. 00:12:11.945 --> 00:12:16.105 So it's definitely a company in that industry, in the climate tech industry, 00:12:16.125 --> 00:12:18.885 that is thinking about how to... 00:12:19.539 --> 00:12:23.159 Kind of harvest the potential of the field. 00:12:23.819 --> 00:12:28.819 Yes, NPAL in Berlin or NPAL, something like this. 00:12:28.979 --> 00:12:33.699 And I would pronounce them NPAL in Berlin is the largest residential solar platform 00:12:33.699 --> 00:12:39.219 in Germany with over 5 billion, yes, again, would be yours in financing race. 00:12:39.419 --> 00:12:44.319 They now offer a full energy suit, batteries, heat pumps, EV charging, 00:12:44.899 --> 00:12:48.899 and AI-powered heartbeat platform to manage it all. In Switzerland, 00:12:49.119 --> 00:12:51.719 Climeworks leads in carbon capture. 00:12:52.039 --> 00:13:02.359 The mammoth DAC plant in Iceland is live, capable of removing 36,000 tons of CO2 annually. 00:13:02.979 --> 00:13:07.879 Partnerships with companies like Morgan Stanley and accolades from Frost Company 00:13:07.879 --> 00:13:09.839 cement their global leadership. 00:13:10.219 --> 00:13:14.939 Chris, you want to start with fintech and insure tech unicorns? Yes. 00:13:15.919 --> 00:13:20.679 There is N26. I was even a former customer of them, a company that has gone 00:13:20.679 --> 00:13:25.519 through several iterations by now, but still being a Berlin heavyweight. 00:13:25.719 --> 00:13:30.659 They overcame regulatory headwinds, bounced back, attracted 250,000 new customers 00:13:30.659 --> 00:13:35.339 per month, as they say, and are now posting 440 million euros in revenue. 00:13:35.339 --> 00:13:42.039 That's from last year they've exited the US and Brazil market to focus on Europe 00:13:42.039 --> 00:13:47.639 and plan to double their marketing spend in 2025 so definitely still a company 00:13:47.639 --> 00:13:55.079 that has not seen its last days even though it might have felt like that probably even in our podcast. 00:13:56.700 --> 00:14:06.840 I see. Trade Republic actually, before the last fundraise of N26 for some weeks or two months, 00:14:07.160 --> 00:14:11.860 something like this, Germany's most valuable fintech, the Berlin-based NIO broker 00:14:11.860 --> 00:14:18.380 now serves over 8 million customers and manages more than 100 billion euros in assets. 00:14:18.380 --> 00:14:25.180 In 2024, they secured a full banking license, but outages in early 2025 raised 00:14:25.180 --> 00:14:28.300 concerns about their platform's reliability. 00:14:29.000 --> 00:14:34.580 And just as dynamic as the fintech sector in Germany is also insure tech. 00:14:34.820 --> 00:14:38.860 There we see that Clark from Frankfurt is growing steadily. 00:14:39.160 --> 00:14:45.040 They hit 135 million euro in revenue in 23 and transitioned founder Christopher 00:14:45.040 --> 00:14:49.100 Oster to chairman now. They've also appeared twice on Startup Radio, 00:14:49.440 --> 00:14:54.060 diving deeply into their strategy and into their digital insurance vision. 00:14:54.280 --> 00:14:56.260 So Clark definitely want to watch too. 00:14:57.020 --> 00:15:01.560 I vividly remember the first interview before they became Unicorn. 00:15:01.680 --> 00:15:03.820 I was talking with Christopher. 00:15:04.140 --> 00:15:09.800 And at the time, we've been an audio-only podcast, so I'm not really sure about his face. 00:15:09.940 --> 00:15:13.860 But he was on the list of Bloomberg's 20 most promising startups you never heard 00:15:13.860 --> 00:15:19.660 of. I asked him if this was a word for him, most promising startups or a challenge 00:15:19.660 --> 00:15:21.280 for his marketing never heard of. 00:15:21.940 --> 00:15:23.940 I think by now you know my style. 00:15:24.960 --> 00:15:30.980 Do not forget Scalable Capital, headquartered in Munich with $17 billion under 00:15:30.980 --> 00:15:36.940 management and a customer base of over 600,000, they are major player in wealth tech. 00:15:36.940 --> 00:15:42.820 But outages and EU regulatory risks about their payment for order flow model 00:15:42.820 --> 00:15:46.500 have raised eyebrows about long-term viability. 00:15:46.980 --> 00:15:52.280 The payment for order flow is actually also a problem of trade republic, I have to mention. 00:15:53.420 --> 00:15:58.780 We also see Raisin, a company that aims to redefine savings across Europe. 00:15:58.980 --> 00:16:03.420 They have an impressive 57 billion euros in assets under their management, 00:16:03.640 --> 00:16:08.520 are profitable and expanding into new countries. Also, they appeared on Startup 00:16:08.520 --> 00:16:09.660 Radio to share their journey. 00:16:10.020 --> 00:16:12.260 Definitely a fintech to watch closely as well. 00:16:12.806 --> 00:16:19.406 Another important one is Mambu in Berlin, a core banking SaaS platform supporting 00:16:19.406 --> 00:16:25.546 over 114 million users in 2024. They acquired French payment tech. 00:16:26.946 --> 00:16:33.506 Nouriel? Chris, you're better in French. You actually learned that stuff. I did never. Numeral. 00:16:35.466 --> 00:16:42.666 As he said, expand their product suite and won Google Cloud's financial services 00:16:42.666 --> 00:16:44.046 partner of the year award. 00:16:44.686 --> 00:16:49.766 And rounding out this little fintech crew here is Bitpanda, probably the most 00:16:49.766 --> 00:16:51.786 talked about startup that we have. 00:16:52.146 --> 00:16:59.146 From Austria, they are an Austrian crypto unicorn and they are launching non-custodial 00:16:59.146 --> 00:17:02.246 DeFi wallet. They're expanding into Dubai. 00:17:02.446 --> 00:17:04.666 They're pushing their B2B white label offerings. 00:17:05.046 --> 00:17:10.166 So they bid ponder technology solutions. So definitely last but not least in this little section. 00:17:10.906 --> 00:17:15.426 Also, I have an add-on for this list because nobody likes taxes, 00:17:15.586 --> 00:17:20.686 but TaxFix became a unicorn with innovating in tax filings across Europe. 00:17:20.866 --> 00:17:26.186 After acquiring TaxScouts in the UK, they're growing despite a workforce reduction 00:17:26.186 --> 00:17:30.726 in 2023. three, their commitment is simplifying taxes for everybody. 00:17:31.346 --> 00:17:39.166 Users keep them on the map. Exactly. And now we go into SaaS and enterprise and HR tech. 00:17:40.749 --> 00:17:45.729 That is definitely the place to talk about Salonis, Germany's only DecaCorn, 00:17:46.169 --> 00:17:52.109 meaning a valuation of above $10 billion. In their case, 13.2 was the number we found. 00:17:52.629 --> 00:17:57.529 Based in Munich, Salonis is a global leader in process mining and execution management. 00:17:57.529 --> 00:18:05.189 They are partnering with IBM and ServiceNow and in 24 delayed their IPO to focus 00:18:05.189 --> 00:18:11.969 on embedding AI deeper into their platform. So pretty impressive and gutsy management decision there. 00:18:13.489 --> 00:18:18.329 Another Munich-based standout is Personio, an HR tech platform tailored for 00:18:18.329 --> 00:18:20.029 small and medium-sized enterprises. 00:18:20.169 --> 00:18:24.889 They are optimizing internal operations right now after layoffs in 2024, 00:18:25.049 --> 00:18:29.849 but they remain a European category leader, still with a strong growth and deep 00:18:29.849 --> 00:18:34.889 integrations in HR workflows. So Personio still want to watch. 00:18:35.809 --> 00:18:38.769 Let's not skip Contentful in Berlin. 00:18:39.049 --> 00:18:44.569 They are powered digital experience for giants like IKEA and Shopify. 00:18:44.989 --> 00:18:51.709 Even after a 15% layoff, they launched a new AI feature and kept their valuation near $3 billion. 00:18:51.889 --> 00:18:56.769 Their CMS platform remains a backbone for modern digital infrastructure. 00:18:57.549 --> 00:19:03.389 And in internal communications, we see that staff based from Chemnitz made waves 00:19:03.389 --> 00:19:08.129 as the first unicorn from the eastern part of the country, sometimes still referred 00:19:08.129 --> 00:19:09.929 to in the country as the new states. 00:19:10.489 --> 00:19:14.469 They've expanded rapidly with the support of JP Morgan and KFW, 00:19:14.609 --> 00:19:19.069 their Kreditanstalt für Wideraufbau, launched a next generation email platform 00:19:19.069 --> 00:19:21.509 and landed in the Gardner magic quadrant. 00:19:22.929 --> 00:19:30.089 Moving on to AI and language tech, DeepL, based in Cologne, is a powerhouse in translation tech. 00:19:30.689 --> 00:19:35.909 In 24, they raised $300 million and launched Clarify, a real-time editing tool 00:19:35.909 --> 00:19:37.289 for Nuance translation. 00:19:38.831 --> 00:19:44.051 Translations. They now serve 100,000 customers, including global enterprises 00:19:44.051 --> 00:19:46.051 like Coursera and Deutsche Bahn. 00:19:46.911 --> 00:19:51.331 AI has been central to their growth and to our show as well. 00:19:51.471 --> 00:19:56.311 Startup Radio has been tracking deep L since early days, and now they are on 00:19:56.311 --> 00:20:00.531 Forbes AI50 and Cloud 100 list. Not bad for a Cologne startup. 00:20:01.151 --> 00:20:04.231 Chris, you want to talk a little bit about travel and marketplaces? 00:20:05.551 --> 00:20:08.671 Always travel i want to talk about travel on travel 00:20:08.671 --> 00:20:11.871 get your guide a berlin-based company raised 00:20:11.871 --> 00:20:17.411 nearly 200 million euros in 23 and now lists over 110 000 global experiences 00:20:17.411 --> 00:20:21.791 strategic partners like checkout.com and prima helping them boost conversion 00:20:21.791 --> 00:20:26.331 and scale globally but i also have to say i had a get your guide experience 00:20:26.331 --> 00:20:31.491 in rome where i wanted to watch the or go see the Caravaggio exhibit. 00:20:31.791 --> 00:20:35.191 And I bought my ticket through Get Your Guide. 00:20:35.431 --> 00:20:41.051 And when I arrived at Piazza Barberini, Piazza Palazzo Barberini, 00:20:41.191 --> 00:20:46.591 it turned out that the ticket I bought did not include the special exhibit and 00:20:46.591 --> 00:20:49.651 it was not mentioned on the website properly. 00:20:49.671 --> 00:20:52.751 So I will let them know. 00:20:53.151 --> 00:20:56.751 I will write Get Your Guide and see what comes out of it. 00:20:57.931 --> 00:21:01.411 You should do also we have Omeo 00:21:01.411 --> 00:21:04.671 actually a startup that I interviewed many 00:21:04.671 --> 00:21:07.631 many years ago when they were really early stage their 00:21:07.631 --> 00:21:12.851 founder under their old name GoEuro they are still from Berlin and they have 00:21:12.851 --> 00:21:18.291 secured by now more than 120 million credit facilities they're expanding into 00:21:18.291 --> 00:21:24.691 Southeast Asia and offering flexible multi-model travel tools across Europe yeah, 00:21:25.562 --> 00:21:32.182 In travel and marketplaces, a very interesting niche that Krono24 sits in. 00:21:32.582 --> 00:21:36.882 They are from Karlsruhe and are a leading marketplace for luxury watches. 00:21:37.222 --> 00:21:42.662 With $235 million in funding and new leadership, they're now adapting to shifts 00:21:42.662 --> 00:21:45.302 in demand and they are doubling down on digital innovation. 00:21:45.622 --> 00:21:52.922 It's going to be interesting to see how that goes in that small market in luxury e-commerce. 00:21:53.342 --> 00:21:58.042 Yes, great rundown so far, Chris. Coming up next, we'll take a closer look at 00:21:58.042 --> 00:22:05.122 food, consumer, robotics, and education unicorns, plus those we've lost along the way. 00:22:05.862 --> 00:22:09.982 So stick around. You're listening to StartupRate.io. Don't forget to rate us 00:22:09.982 --> 00:22:12.122 and check out our links in the show notes. 00:22:12.502 --> 00:22:14.762 Time for some ads. 00:22:16.182 --> 00:22:20.542 Thanks for sticking around. Welcome back to Consumer Tech Robotics and Food 00:22:20.542 --> 00:22:24.222 Innovation. Let's start with Berlin Brands Group. 00:22:24.842 --> 00:22:30.002 With $800 million in funding, they've acquired dozens of D2C brands and expanded globally. 00:22:30.202 --> 00:22:35.882 Despite layoffs and rising competition, they're pushing hard in compliance and 00:22:35.882 --> 00:22:39.222 portfolio optimization, maintaining their unicorn crown. 00:22:39.222 --> 00:22:46.622 And speaking of optimization, Shoko, also based in Berlin, is digitalizing the food supply chain. 00:22:46.782 --> 00:22:50.762 They have an app that reduces food waste and streamlines restaurant supplier communication. 00:22:51.462 --> 00:22:53.362 They acquired the Spanish startup 00:22:53.362 --> 00:22:58.642 Katu and became Spain's top food service ordering platform as well. 00:22:58.842 --> 00:23:03.462 So a company that seems to do a lot of things right, Shoko, also based in Berlin. 00:23:03.462 --> 00:23:09.002 And also, we already mentioned it, eGym from Munich in 2024, 00:23:09.002 --> 00:23:11.282 they raised $200 million to 00:23:11.282 --> 00:23:16.062 grow their WellPass corporate wellness network and launched eGym Genius, 00:23:16.282 --> 00:23:21.482 an AI workout coach after acquiring Fit Reserve and Hustle. 00:23:21.862 --> 00:23:25.702 They are scaling fast in Europe and the US. 00:23:27.093 --> 00:23:31.853 Moving on to EdTech, education tech, smart data, and deep logistics. 00:23:32.953 --> 00:23:38.593 Yes, GoStudent in Vienna is transforming education with hybrid online-offline 00:23:38.593 --> 00:23:41.693 tutoring and VR-based language learning. 00:23:41.933 --> 00:23:47.833 The AI tutor Amelia is already helping thousands of students personalize their 00:23:47.833 --> 00:23:50.213 learning experience. Oh, interesting. 00:23:50.853 --> 00:23:54.773 Over in Zurich, Ascandit is a global leader in smart data capture. 00:23:54.773 --> 00:23:58.313 They have clients like Carrefour and the NHS in the UK. 00:23:58.633 --> 00:24:02.313 Their SDKs now offer AI-powered scanning tech, smart labels, 00:24:02.353 --> 00:24:04.333 and advanced logistics solutions. 00:24:09.533 --> 00:24:15.033 Let's talk about commerce tools. The Munich-based e-commerce software provider, 00:24:15.273 --> 00:24:23.193 a leader in API-first, headless commerce and purchase $30 billion in GMV last year. 00:24:23.353 --> 00:24:27.693 Despite recent layoffs and leadership turnover, they continue to win enterprise 00:24:27.693 --> 00:24:29.433 clients and Google Cloud Awards. 00:24:30.473 --> 00:24:35.413 Yeah, and that was it for our little section of software-as-a-service FinTech 00:24:35.413 --> 00:24:36.713 and Marketplace Unicorns. 00:24:36.813 --> 00:24:41.713 But now, we mentioned it a couple of times already, we are moving on to, 00:24:41.993 --> 00:24:46.813 I don't know if we can call it a graveyard, because maybe some of those might, 00:24:48.773 --> 00:24:50.053 experience a resurrection. 00:24:50.633 --> 00:24:56.053 So let's talk about former unicorns and the question where are they now? 00:24:58.053 --> 00:25:04.433 You got the first one. Okay, for now, for the part nobody likes, but it's important. 00:25:04.653 --> 00:25:11.473 Let's talk about former unicorns. First, we have WeFox once valued at 4.5 billion 00:25:11.473 --> 00:25:16.093 drop below unicorn level amid deep losses in Italy and Germany. 00:25:16.273 --> 00:25:20.453 Leadership changed twice and they're now fighting for survival. 00:25:20.673 --> 00:25:25.833 And actually, we have to say, we talked about this a lot because the fight in 00:25:25.833 --> 00:25:28.693 and for WeFox was quite public. 00:25:29.813 --> 00:25:34.833 Grover, known for tech rentals, lost its unicorn status after a down round and 00:25:34.833 --> 00:25:37.513 they burned through over 1 billion euros in funding. 00:25:37.753 --> 00:25:42.173 They've now pivoted to some kind of stabilization mode with a new CFO on board 00:25:42.173 --> 00:25:44.973 to ride the ship. We will see how that goes. 00:25:45.573 --> 00:25:51.873 In Farm, once the vertical farming darling exited several markets and entered 00:25:51.873 --> 00:25:57.813 administration by late 2023, the co-founder now runs a much smaller Canadian spin-off. 00:25:58.173 --> 00:26:06.813 Their pivotal to kosher greens in North America is a far cry from their global farming dreams. 00:26:07.053 --> 00:26:11.953 And actually, I couldn't even find their website anymore. So they're completely 00:26:11.953 --> 00:26:14.633 stamped up, but still on some lists here. 00:26:16.583 --> 00:26:20.143 More like infamous than inform. Am I right? 00:26:21.863 --> 00:26:26.303 There's also, oh God, I'm so sorry. I know it's people and dreams and et cetera. 00:26:26.583 --> 00:26:30.723 I'm sorry for the joke, but I'm sorry for the joke. And that's even a segue 00:26:30.723 --> 00:26:36.463 because there's also a Joker without the E, a Berlin born quick commerce startup. 00:26:36.663 --> 00:26:41.303 We've talked about that industry quite often here in terms of fast grocery shopping. 00:26:41.303 --> 00:26:45.443 Once a billion-dollar player, Joko now exited Europe and the US, 00:26:45.563 --> 00:26:47.703 only operating as Ducky in Brazil. 00:26:48.063 --> 00:26:52.403 The valuation dropped below $1 billion after a tough down round. 00:26:53.203 --> 00:26:58.123 Actually, I was tempted to also include Gorillaz there, but then I realized 00:26:58.123 --> 00:27:04.263 they already lost their billion-dollar valuation during the takeover from Get 00:27:04.263 --> 00:27:06.083 here more than three years ago. 00:27:06.243 --> 00:27:08.443 So I thought, ah, just skip this here. 00:27:08.923 --> 00:27:14.603 Not skipping. We will. Oh, that was Yoda saying, talk about Solaris, 00:27:14.763 --> 00:27:17.863 a major banking as a service player. 00:27:18.063 --> 00:27:26.543 So its valuation dropped from $1.6 billion to $90 million after heavy losses and staff cuts. 00:27:27.023 --> 00:27:32.663 Japanese SBI Group took over the majority ownership in 2024, 00:27:32.663 --> 00:27:37.163 a sobering example of scaling too fast in fintech. 00:27:38.063 --> 00:27:42.083 And rounding out, here are the ones we mentioned before, because they're still 00:27:42.083 --> 00:27:43.303 on some lists we have found. 00:27:44.183 --> 00:27:48.063 Just a very quick run through. TIA, the former micromobility unicorn, 00:27:48.223 --> 00:27:51.443 merged with DOT, and saw its value drop to 150 million euros. 00:27:52.043 --> 00:27:56.183 Volocopter, the air taxi pioneer, sold to China's OneFeng group after insolvency. 00:27:56.643 --> 00:28:03.023 And NUMBRES, without the E, once a Swiss fintech unicorn, quietly faded into B2B niche obscurity. 00:28:04.383 --> 00:28:13.043 And there you have it. or our full unicorn tracker, all 48 known unicorns in 00:28:13.043 --> 00:28:17.523 Germany, Austria, and Switzerland, plus the fallen stars who shaped the ecosystem. 00:28:17.803 --> 00:28:24.683 Whether you're a DACH founder or just a tech nerd, this was your full download 00:28:24.683 --> 00:28:28.223 on the DACH startup scene stands right now. 00:28:29.023 --> 00:28:32.683 Yes, so we will continue updating this every three months. 00:28:33.303 --> 00:28:36.543 So hit follow, check out the show notes for all source links, investor info. 00:28:36.823 --> 00:28:41.403 We hope you enjoyed this special episode and this special overview of the market. 00:28:41.623 --> 00:28:44.023 A bit of a shift from our regular programming. 00:28:44.503 --> 00:28:49.523 You can also find more investor info and our own interviews with many of these 00:28:49.523 --> 00:28:54.423 founders on our website. For now, though, we say thanks for listening to StartupRate.io, 00:28:54.983 --> 00:28:57.723 your inside track to the DACH startup ecosystem. 00:28:58.523 --> 00:29:04.363 Until next time, auf Wiedersehen and keep scaling. Yes, please do. Bye. Bye. 00:29:05.040 --> 00:29:34.762 Music.