This Month in German, Swiss, and Austrian (GSA) Startups — Summer 2022 Wrap-Up

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Welcome to This Month in German, Swiss, and Austrian (GSA) Startups in Summer 2022 by Startuprad.io. I am joined again by my co-founder and co-host Chris from New York City.

This is a new format to wrap up July and August. We used to mash all of July, August, and September in the September Episode, but it tended to be very looooooooong or we had to leave out a lot. So Chris and I came up with the idea of a stand-alone summer wrap-up. Since the US are still the single biggest market for us, we decided to publish the episode on Labor Day, the US’ unofficial end of summer and federal holiday. Let us know if you like the idea.

Nonetheless, this recording will be a bit longer than usual. Best pause here and get a snack and drink.

As always: All news not yet included here will be published in our next news episode in our regular September warp-up.

You can keep up to date with our Google Calendar for all publications:

Startuprad.io

Our Highlights

Startups in GSA did better than expected. We had a few insolvency filings, but also amazing fundraisings like Celonis 1 bn US$ combination of equity and debt funding. Insuftech Wefox raises 400 m. One can already see the signs of a downturn, M&A activity going up, as well as the news about insolvencies or job cuts/ hiring freezes. But — according to a Bikcom survey — 8 out of 10 startups are still hiring. Deal time our recent guest Qonto buys former guest Penta and there was more in a B2B neobank deal week. Even Allianz had to learn, that one can not buy fintech success and there is more news on Wirecard.

We will also bombard you with funding data on Germany, Austria, and Switzerland, as well as global numbers. Keep in mind you can read all our news on our blog www.medium.com/startuprad-io

Let’s talk startups:

Startup News GSA - Summer Wrap-Up (July & August '22)

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Top News

Celonis Secures 1 bn US$ Funding

Celonis remains a success story with a 400 million Series D extension and a 600 mn US$ credit facility, at a valuation of nearly 13 bn US$. They are cementing their spot as Germany’s most valuable startup as well as its only decacorn https://buff.ly/3AHE2ee. They do process mining and help to identify unrealized efficiencies. Right now, they’re helping with supply chain issues, for example.

Despite Market Conditions, WeFox Closes 400 m US$ Funding

Wefox, the Berlin-based insurtech, closes USD 400 million Series D round at 4.5 bn Dollar valuation https://buff.ly/3AHE2ee

One former guest has to file for insolvency

• German crypto startup Nuri had a streak of bad luck. First, they announce to cut almost 20% of their headcount, then millions of their client’s money is frozen with Celsius and now a blog claimed it all hit during fundraising https://buff.ly/3O2YI3e
• Eventually followed by an insolvency filing https://medium.com/startuprad-io/berlin-based-crypto-bank-nuri-formerly-known-as-bitwala-with-500-000-b4953e15dbfa
• Berlin-based crypto neoborker Nuri had to file for insolvency. Now the insolvency administrator says there are parties interested in buying the company https://buff.ly/3wzoHJZ

Neobrokers Facing Headwinds

• Neobrokers close to the edge: No good news from the SEC report on the poster child of all neo-brokers. Unfortunately, there is no report for Germany mentioning e.g. Trade Republic
• Robinhood almost imploded during GameStop meme stock chaos — TechCrunch https://buff.ly/3ORdAml
• Bankman-Fried’s FTX Is Seeking a Path to Buy Robinhood — Bloomberg
  What does this mean for BitPanda, Trade Republic, Scalable Capital, and N26? Do they also need to look for a strategic buyer rather than an IPO? https://buff.ly/3NwhjVh

B2B Neobanks Had a pretty big Deal Week

Qonto Announces Plan to Acquire Penta https://buff.ly/3zwPCI3 as we have predicted two weeks before https://buff.ly/3zxUSeH we have extensive coverage of Penta from the past linked in the article, as well as an interview with Qonto’s head of Germany. Also Kontist was selling itself at a pretty hefty discount https://buff.ly/3c9pmuF

Viability of the Quick Delivery Business Model still Questioned

• After only one year: Gorillas is closing shop in Belgium. Efarmz is taking over parts https://buff.ly/3OvZfvF
• Gorillas wants to save itself with advertising from consumers and food giants of the world, the producer of the products they are delivering every day https://buff.ly/3NvaHX1
• More signs of the current economic environment for startups: Munich-based quick delivery startup arive delivers tech gadgets and lifestyle products. They just had to shut down 2 of their 5 locations in Germany https://buff.ly/3Auh8XI
• Gorillas-owned rider platform Street Fleet lays off 100+ riders and is set to shut down https://buff.ly/3nEanef
• Quick delivery service Frischepost from Hamburg changes its delivery model at home (delivery with electric cargo bikes) and closes shop in Munich and Berlin — Supermarktblog https://buff.ly/3zcngBw
• Later Frischepost had to file for insolvency, along with competitor Getfaster. It looks like Frischepost will be able to continue, there is no statement from Getfaster https://buff.ly/3JQiwXm the reason for Frischeposts filing was their acquisition fell through, their buyer pulled out https://buff.ly/3PCpeRI
• In Germany you say: Erst hatten sie kein Glück und dann kam noch Pech dazu ⇒ “first we had no luck and then there was bad luck”
  Delivery Hero and Glovo targeted for EU antitrust inspection — TechCrunch https://buff.ly/3uyCmQd
• EU antitrust authority searches Delivery Hero headquarters https://buff.ly/3c5ypfD

The Job Cuts Kept Coming — Even During Summer

Current market conditions lead to a halving of open positions at German unicorn startups https://buff.ly/3vVu7OM here are some other examples, including hiring freezes at established tech companies like SAP

• Office software company Lendis joins bigger names and cuts 15 % of their team https://buff.ly/3Rd57vp
• Austrian crypto unicorn Bitpanda cuts more than 25% of its headcount and has do deny rumors it is cutting much more https://buff.ly/3nRkZGD
• Real estate platform McMakler was seen as a unicorn candidate in Berlin, but they first celebrate with their employees (using #OneTeam to post photos) and then announce to fire 12% of their workforce a few days later https://buff.ly/3vtSz9S
• Amazon aggregator unicorn SellerX has laid off staff — as a wave of layoffs continues to sweep the industry. bites https://buff.ly/3zQ1IvU
• Or at least freezes: SAP joins hiring freeze of other big tech names https://buff.ly/3b2KUZ5

But startups are still looking for talent

8 out of 10 startups in Germany are looking to hire employees, according to a recent survey by association Bitkom https://buff.ly/3AJAMyP

You Can’t Buy Fintech Success

Heymoney is insurance giant Allianz’s take on a multi-banking app. They even hired two experienced entrepreneurs, but now pull the plug on the project https://buff.ly/3nwr1w1

More Sad Wirecard News

• Wirecard forged client details to secure €900mn investment from SoftBank reported The Financial Times https://buff.ly/3ceWdxL

Housekeeping & Time to Brag

The year is already half over, so we dug into the analytics of our hosting service. In the first half of 2022, Startuprad.io’s podcasts were downloaded and heard in 109 countries across the world! Thank you, everybody!

We reached the Global Top 20 Entrepreneurship Podcast on Apple (All) and Global Top 100 Business Podcast on Apple (All) for the first time. We are only made aware of this since we use a new analytics service, called Podder.

With this and our other services we could take a snapshot: Trending around the world mid of August:

Startuprad.io: Apple’s Entrepreneurship Podcast Charts in Germany, Ukraine, and Croatia

Fintech Germany: Apple’s Business and Entrepreneurship Podcast Charts in Mauritius

Deep Tech Germany: Apple’s Entrepreneurship Podcast Charts in UK and Belarus

PLUS

Apple’s Global Entrepreneurship and Business Podcast Charts

PLUS

Chartable’s Podcast Charts Global, Global Tech, Global Business, Global News, USA, India, France

We are really growing strong and we are very happy for your support!

What we published:

Samsung Buys IP of German Startup Cynora for 300 m $ — All Employees Are Fired https://buff.ly/3y9MmAF one of the strongest performing blog posts this summer

Ecosystem

We start out with two questions from legendary VC Hunter Walk: These Two Questions Are All You Need To Understand The Next Few Years of Venture & Startups https://buff.ly/3aVHnvz

• Is it a Tech Recession or a General Recession
• Will there be one category winner or multiple (5b+) winners?

We also see some grim news for the German Economy on the horizon and here, there is not yet the news of the potential natural gas shortfall in the fall fully included:

German consumers are spending less than they used to. Retail revenues took a dive by 8,8% in June, the largest for 28 years. This does not look good for all retailers, but especially offline retailers https://buff.ly/3AxDLKj

Switzerland

• Swiss startups raised 2,6 bn CHF (2,64 bn Euro, 2,64 bn US$) in venture capital in the first half of 2022 https://buff.ly/3RGO5Gj
• The Swiss government is discussing a government-backed fund to support innovative swiss tech startups https://buff.ly/3QUvuGk

Austria

• Venture capital investments in Austrian startups show no signs of slowing. They raised 881 m € in #VentureCapital in H1 2022, which is a 67% increase vs H1 2021 https://buff.ly/3dD4gVw
• But there have been smaller investments made: Austria Startups in H1 2022 are not beating the single largest VC funding from the record year 2021 — despite 300 m € funding for GoStudent https://buff.ly/3PnAAJZ

Germany

• Venture capital investments in Germany dipped by 20% in money invested in H1 2022 and 7% in numbers, BUT still the 2nd best half year on record https://buff.ly/3cjJnOG
• The 9 Euro ticket for public mass transportation gives the not-covered long-distance busses a big headache. During some samples busses departing the same day are half full at most https://buff.ly/3QX3fXH
• Amazon had 56% of the German eCommerce market in 2021, translating to more than 47 bn Euros in revenues via Amazon and it’s marketplace, up 6% from five years ago https://buff.ly/3IkEKQf
• The EU wants to set up its own satellite network for fast internet connections. Now Germany pushed the initiative to include startups as well https://buff.ly/3uw2CuO
• Germany’s move to legalize cannabis is expected to create a ‘domino effect’ https://buff.ly/3Paiivp We have talked about it in our interview here already: https://buff.ly/3yKWFfP
• German white hat hackers at Chaos Computer Club hacked the video ident from six national and international providers. As a result, the German regulator stops video ident for certain activities https://buff.ly/3BYK0rx

Ecosystem H1 / Q2 Funding Numbers

• Funding To Cybersecurity Startups Dips Amid Market Turmoil https://buff.ly/3nVGaau
• State of Fintech Q2'22 Report Preview: Global Fintech Funding Sees Lowest Levels Since Q4'20 — CB Insights Research https://buff.ly/3IvO1VW
• State of Venture Q2'22 Report Preview: Global Funding Declines by More Than 20% for a Second Straight Quarter — CB Insights Research https://buff.ly/3PkG5ZO
• Tiger Leads Amid Shifting Lineup Of Most Active Investors https://buff.ly/3AEadv5
• Venture capital sees ‘a slowdown’ while ‘$230 billion of dry powder’ sits on the sidelines https://buff.ly/3yXWrlR

Hubs

There are many deserving startups, cities, and entrepreneurs who will never get any English coverage, would it not be for us? This is why this section exists. This time Chris is channeling his inner geography teacher and has his own order :-)

Frankfurt

• Startups in the greater Rhine-Main Area have raised in H1 2022 more funding, than in all of 2021! So far we have tracked 28 deals worth 470+ m Euros ( ~ 480 m US$, ~460 m CHF). We also found 20 investments over 2020 and 2021 in the state of Hessen made as corona aid investments valued at 8,8 m € in companies we classified as startups: https://buff.ly/3Ktt9Qd via RhineMain.vc
• Frankfurt-based Node Energy raises 7 m € series A funding | LinkedIn https://buff.ly/3JasbHB

Darmstadt

• Hornetsecurity, based in Hannover. Germany acquires cybersecurity training experts, IT-SEAL based in Darmstadt https://buff.ly/3OJF4KU You can learn more about IT SEAL here: https://buff.ly/3uo2AVL
• Delivery drone startup Wingcopter is looking for sites to set up a factory. Since this is expensive, they are also looking for new funding https://buff.ly/3AdPxtl Learn more about the company here https://buff.ly/3QDa5Ro

Offenburg

A city of a bit over 60.000 people, pretty close to Strasbourg

Offenburg, Germany-base aI startup Conversion Maker raises 4 m Euros venture capital https://buff.ly/3Q5xVVy

Koblenz

Close to Cologne, and they have a population of just a bit over 100.000

NBA legend LeBron James invests in 30 mn US$ private equity investment round in #Koblenz-based Canyon Bicycles, to fund US expansion https://buff.ly/3d3DXaM

Hamburg

Hamburg-based startup Suena raises 1,2 m Euros for their AI tool, which will help trade electricity https://buff.ly/3uj4BlZ

Hamburg-based Postmates clone Bringoo raises 5 m € funding https://buff.ly/3PA6XFP

Kaiserslautern (known also as K-Town)

Our 2021 interview guest Lubis EDA just raised their seed funding. They are working on a game-changing technology for developing semiconductors learn more here: https://www.linkedin.com/feed/update/urn:li:activity:6950161931638865920/

Munich

Munich has been fairing well during corona. Their insolvencies declined in 2021 by 13,9% to only 334 according to a recent report by Munich Startups https://buff.ly/3RH0YQS

Switzerland

• Metaphysiks is an immersive technology startup from Lausanne, Switzerland. Now they raise 2 US$ venture Capital to bring their solution to the metaverse https://buff.ly/3OzqHsC
• Do you know swiss fintech Yokoy? They are competing against other startups managing corporate spending like Moss, Pleo, and Spendesk, but argue it is not a “winner takes it all market”. The investors seem to agree. They are rumored to be valued at 500 m$ https://buff.ly/3byro6I
• Swiss startup Typewise receives USD500k from Y Combinator to continue developing their artificial intelligence-powered smartphone keyboard for consumers https://buff.ly/3R9C4c9
• Swiss-based biotech startup Tropic Biosciences raises 35 m USD led by Blue Horizon https://buff.ly/3NYs2rC

Austria

• Keep in mind the news from the Ecosystem on funding and the job cuts at Bitpanda
• The StolzaufWien “Proud of Vienna” Beteiligungs GmbH is a newly set up venture capital fund, owned by the city of Vienna. They should invest 50 mn Euros in the city’s startup scene https://buff.ly/3Azw3zV
• LSF2030 is a new life science fund raised in Tyrol, Austria. They are looking at 50–80 m Euros https://buff.ly/3P1iKN0
• Robo Wunderkind was an Edutech and early startup in Vienna. Their dream of building robo toys for children ends — for now — in insolvency https://buff.ly/3Ojrf4Z
• Vienna-based mental health startup Stresscoach exits to Boston-based KGA Inc. https://buff.ly/3RIdUpD

General News / Tech News / Companies News Section

Investors — New Funds Are Still Raised

• German Federal Government and kfw unveil the Venture Tech Growth Financing — A debt fund for growth-stage tech companies with 1–125 m Euro tickets jointly with private investors https://buff.ly/3A2CA5o Learn more about the strategy behind it: https://buff.ly/3SCdlhF
• Einstein Industries Ventures is a new venture capital fund, aiming to raise 300 m Euros and invest them in European Space startups https://buff.ly/3NjYpRi
• The Heilemann brothers exited their DailyDeal to Google. Now they want to convert their family office into an impact VC — aiming at 500 m Euros for the first fund https://buff.ly/3RppIgv
• Former VC fund managers for June Fund and Atlantic Labs Food are raising two new funds for their new VC in Berlin, one seed, and one growth aiming for 220 m Euros https://buff.ly/3OJXwmp
• As mentioned above — StolzaufWien 50m €
• XAnge is a VC with french roots and already an office in Munich. Now they open an office in Berlin and raise a 220 m Euro fund to invest mostly in German startups https://buff.ly/3uyaOKK
• Headline VC Closes Over $950 Million to Invest in Early-Stage Startups https://buff.ly/3ar0e1y
• French VC Elaia may have what you are looking for: New deeptech fund for Europe’s startups as Elaia Alpha II closes at €77 million https://buff.ly/3yZVKs6
• Cathay Innovation launches what will surely be one of the largest multi-stage VC funds with 1 bn € https://buff.ly/3PkQtRk
• Family-owned home appliances company Vorwerk raises with their Vorwerk Ventures their next fund totaling 150 m Euro https://buff.ly/3bBGfh2

A very selected and very few fundraisings

• Berlin-based Marketing automation startup Retail Rocket nabs $24M and buys New York-based SailPlay https://buff.ly/3IhoaAL
• Despite current market conditions, Munich-based deep tech startup Celus raises 25 m Euros in Series A funding https://buff.ly/3AEfaUN
• Berlin-based Kadmos lands €29 million to streamline payments for migrant workers | EU-Startups https://buff.ly/3cdRAnl
• Berlin-based insurtech ELEMENT, the leading white-label provider of digital insurance solutions, is receiving an additional investment of 16 m Euros from existing and new investors https://buff.ly/3PiTzFW
• Conversational-Commerce-as-a-Service-Plattform “Charles” raises Series A funding of 20 m US$ to become Europe’s market leader https://buff.ly/3Smd0Q2
• Satellite startup LiveEO raises 19 m Euros from investors, and EIB and EU research funding for their automatic recognition of dangers to pipelines, railroads, and powerlines https://buff.ly/3SICirK
• Gunzilla Games Raises $46M to Redefine the Battle Royale Genre By Letting Players Trade Their In-Game Items in “Off The Grid” https://buff.ly/3bIWWHE

Fintech News

• UK-German fintech SumUp raises $624M at $8.5B valuation, with its payments and business tech now used by 4M SMBs — The investment — led by Bain Capital Tech Opportunities, with funds from BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, Sentinel Dome Partners and others https://buff.ly/3A5Cjiz It is unclear if this was a down-round or not
• German neobroker Scalable Capital surpasses 10 bn Euros in client assets under management https://buff.ly/3prIVBg
• German fintech RaisinDS buys the payment service team from Bankhaus Lenz in Munich. Raisin already owns a licensed bank in Frankfurt https://buff.ly/3AcnNWb Learn more about the founder here https://buff.ly/3njjm4n
• IDnow Raising Funds — Shelving Germany’s Largest Fintech Exit For Now https://buff.ly/3KcskLm IDnow Group invests further in European Platform and appoints Jean-Marc Guyot as Vice-President Engineering https://buff.ly/3InoUEr Learn more about IDnow in our interview https://buff.ly/3Im0ET8
• Deutsche Bank enters „Buy now, pay later“ market as hype already fades https://buff.ly/3BqV1le
• During the crypto boom Bitmex wanted to buy Munich -based bank Bankhaus von der Heydt now the bank is looking for a new buyer https://buff.ly/3A49QrF

Some Tesla News — related to Germany

• Too many cameras in Teslas. Berlin police ban cars from some of their properties https://buff.ly/3HZNWt9
• Tesla’s Gigafactory in Berlin stops delivery of Model Y for the time being https://buff.ly/3A94NIj
• And during summer the Gigafactory closed down for approximately 2 weeks https://buff.ly/3R89h7j

General News

• ThyssenKrupp invests in Elchingen (Bavaria)-based Cap-On, adding digital pay-per-use and asset-as-a-service solutions for industrial customers to their offering https://buff.ly/3QOOQwL
• Do you know Kenya-based insurtech startup mTek, started by German entrepreneur Bente Krogmann? They have Warren Buffet already amongst their clients https://buff.ly/3OMcCIl
• Germany’s 2022 ContentShift Shortlists Five Companies https://buff.ly/3OKvQOA
• You can learn more about the short-listed startups of the last years in our interviews with them here. https://buff.ly/3RaFxaC
• Zalando buries shopping service Zalon https://buff.ly/3uAHMdy and puts launch in the US on hold https://buff.ly/3QP9Q5K
• Germany cannabis investment platform Juicy Fields is feared to be a scam. The investors can not access their accounts. The founders disappeared. Even the financial watchdog in Germany BaFin warned already in March not to invest https://buff.ly/3RXW3ep
• Foodtech: Vertical farming startup Infarm is a unicorn, but apparently only makes “millions” in revenues. Now their revenue in Q1 2022 shrank by 3,6% but rose in H1 2021 vs H1 2022 by 33%. Still not a good sign for a unicorn in the current environment https://buff.ly/3Pj9piG

We will be back on September 29th with our September Wrap-Up!

Stay ahead of the curve

• 150+ women CPOs across Europe: The complete list https://buff.ly/3ugNOA2
• Strategic investors are overrated: 84% of the tech companies in the sample didn’t need a strategic investor to get to the promised land https://buff.ly/3PVIlXu
• SaaS M&A multiples in Q2 https://buff.ly/3pd20qN
• Dreaded ‘down rounds’ shave billions off startup valuations https://buff.ly/3T1mj8g
• “Fintech sees its slowdown accelerate in Q2'22 as quarterly funding plummets toward 2020 levels.” State of Fintech Q2'22 Report — CB Insights Research https://buff.ly/3QLt9wK

Automated Transcript

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Music.

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And Alive events hello and welcome to this month in German Swiss and Austrian startup news it’s our summer 22

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wrap-up with which fills us with a bit of nostalgia.

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Because apparently someone is already over even though it’s still hard today I have the honor to start the show my name is Christian I’m sitting in New York and I am joined by my co-founder.

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And co-host Joe before we start we have to congratulate you for having had your second.

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Baby well actually my wife had I was just holding hands.

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Having said all this let’s get started because we are having a new format here right now to wrap up July and August we used to mash up all of July August September.

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Into one episode in September that tended to get very very long or we had to leave a lot out so this time we’re trying something new.

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We came up with the idea of a standalone summer wrap-up

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especially since the US are still the biggest market for us we decided to publish the episode on Labor Day the u.s. is unofficial end of summer and a Federal holiday so yeah

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if if you want to let us know if you like the idea nonetheless the recording will be a bit longer than usual because so much stuff has happened and yeah

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so grab one of those last fancy drinks with summer drinks with little umbrellas.

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And let’s get started we recorded the episode on Wednesday August the 24th 2022 Germany is experiencing and inflation Spike which is

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true for a lot of countries these days dying up funding and private markets for some most.

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Non-profitable startups as well as preparing for a potentially very cold Winters so Germany has a huge discussion going on about Rising energy and especially gas prices related a lot to the.

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Ukraine war and Germany being very energy dependent on Russia and yeah in preparation for that from what I hear or read from here is that Germany is even considering to Ben.

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Having store Windows lit at night or public buildings at night just as a sign of saving energy.

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As always all news not yet included here will be published in our next news episodes in our regular September

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wrap-up and you can keep up to date with our Google Calendar for all Publications.

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This as a tiny bit of housekeeping and now let’s get to business and let’s give us a little overview.

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About the episodes and tell us about the upcoming highlights Jill he has of course our highlights startups in G’s a did better than expected with a few insolvency filings but also Mel’s you time tracing like solonius who raised.

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1 billion US dollar published just a few days ago a combination of equity and debt funding.

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Intertek we FOX also rated 400 million one can already see the signs of a downturn m&a activity is going up

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as well as the news about insolvency or job cuts and hiring freezes but according to a bit come survey which is the German Association for

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um telecommunications and electronics.

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So they found eight Alpha out of 10 startups in Germany are still hiring deal time our recent guest Contour by its former guess

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Penta and there was more in P to be near back deal week we blogged about it and even aliens the German Insurance jugging out had to learn

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one cannot buy fintech success and there is more news on

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why are caught we will also bombard you with finding data in Germany Austria and Switzerland as well as Global numbers please keep in mind you can read everything.

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With a little bit patience find all the numbers on our medium block medium forward slash startuprad.io or.

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/ IO in there you can find everything we have link here down in our show notes don’t miss out on our radio station and unlink tree you can find all options to subscribe again.

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This podcast was made possible by the generous support of invest in Harrison with which

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we run a dedicated sub podcast for startups in Harrison and startuprad.io calm the best way to identify investors and cooperation partners for early-stage startups you can sign up there for Early Access Chris,

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I did little bit highlights can you bring us some top news and yeah,

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so probably one of the biggest success stories in German startup in the German startup scene or funding scene in general is solonius and Salone has secured another 1 billion US dollars in funding.

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With a 400 million series D extension and a 600 million credit facility at a valuation of now around 13.

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Billion US Dollars cementing their spot at Germany’s most valuable startup as well as Germany’s only de corn so far

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and but I do have to admit that I still have a

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bit of a hard time to explain what they actually do so they are basically looking at your business processes and due process mining in order to help identify unrealized efficiencies what they do example

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now as the press release stated about the new funding is that they are helping with supply chain issues to make your business run more smoothly and Chris do you know what’s also impressive about them they raced in total 2.4

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billion US dollars in funding so they not even doubled their funding with this 1 billion US dollar but still a lot of money

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and it’s and it also goes a bit again to since we always try to provide a bit of context about Germany and the German startup Scene It goes back I think to this idea of that German with the fact that Germany very often is not

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probably like the sexiest startup market and coming up with Lego the new Facebook or let’s have like I don’t know let’s have

00:06:47.418 → 00:07:00.240
flying cars and all this stuff but rather something that works something that makes money something like sap being like the business software that everybody uses and it might not be flashy but it might make money.

00:07:00.408 → 00:07:10.251
So yeah moving onto we Fox which is a berlin-based intertek which also was able to get quite some money.

00:07:10.329 → 00:07:18.848
Despite the market conditions they close the 400 million u.s. dollar series D round and I know also valued at four

00:07:18.710 → 00:07:27.634
point at much more than just the billion dollars precisely at 4.5 billion dollars bit sadder news is that

00:07:27.496 → 00:07:37.222
one former guest of ours had to file for insolvency the crypto startup Nuri has had a streak of bad luck first they had to announce that.

00:07:37.282 → 00:07:39.616
I need to cut almost 20% of.

00:07:39.694 → 00:07:50.293
Head count then millions of their clients money was Frozen with Celsius and now a block claimed it all hit during fundraising and might eventually follow

00:07:50.218 → 00:07:54.578
by an insolvency filing and.

00:07:54.827 → 00:08:04.787
Dotty insolvency administrator says there are parties interested in buying the company so we will see how this will all develop in the very volatile crypto mark.

00:08:04.892 → 00:08:12.096
Talking about developing on to actual bank talking about developing here in New Brokers that

00:08:12.084 → 00:08:17.066
and the quick delivery startups was the sorry pardon my language hot shit unless

00:08:17.009 → 00:08:26.392
few years and now a new broker is close to the edge no good news from the SEC report on the poster child of all new brokers.

00:08:26.425 → 00:08:31.433
The Robin Hood almost imploded during Game Stop name stuck

00:08:31.322 → 00:08:44.478
chaos right TechCrunch unfortunately there’s no report for Germany mentioning for example trade Republic but we know they also stopped with the traits one of the reasons very simplified.

00:08:45.177 → 00:08:49.258
All the trading goes through a few loopholes where you have to post collateral

00:08:49.219 → 00:08:56.586
and then has to be cash High valued stuff and that was something they had to come up with in order to get trades done.

00:08:58.401 → 00:09:04.841
Backman feeds ft x a seeking a path to buy Robin Hood right Bloomberg and

00:09:04.793 → 00:09:10.836
what does this mean for big Panda try to Republican scalable capital and and 26 and we.

00:09:11.283 → 00:09:20.568
We do not know yet if they’re looking for a strategic buyer or an IP oh yeah B2B new Banks had a pretty big deal with we

00:09:20.430 → 00:09:26.050
talked about contour and unzipped plans to acquire Penta as we have predicted two weeks before

00:09:25.903 → 00:09:40.886
admittedly relying on another podcast but we found it very another block but we found it very likely we had extensive coverage of Penta in the past LinkedIn the articular as well as an interview with controls head of Germany also contest

00:09:40.847 → 00:09:51.670
with selling itself at the very Hefty discount price they’re officially headquartered the parent company in Denmark body exclusively operated in Germany.

00:09:52.316 → 00:09:53.651
Again.

00:09:53.783 → 00:10:06.731
Quick deliver viability of quick delivery business models is still questioned or is now questioned after only one year ago rule us has to close shop in Belgium

00:10:06.683 → 00:10:12.421
and gorillas wants to save itself with advertising from consumers.

00:10:12.661 → 00:10:20.730
And food Giants around the world the producer of the product and they deliver every day then there’s more.

00:10:21.843 → 00:10:33.018
Signs of the current economic environment for startups means they munich-based quick delivery start up arrives delivers tech gadgets and lifestyle product they just have to shut down

00:10:32.970 → 00:10:39.463
two of the five locations in Germany gorillas also closed there.

00:10:39.605 → 00:10:48.169
Rider platform Street Fleet and laid off 100 plus writers they completely shut it down quick delivery service

00:10:48.067 → 00:10:56.694
Croatia post from Hamburg changes its delivery model at home with the first news the river with electric cargo bikes and close a shop

00:10:56.592 → 00:11:04.382
in Munich and Berlin and later frische post had to solve file for insolvency along with.

00:11:05.018 → 00:11:12.214
Almost to exact same day with competitor get faster it looks like fish or post will be able to continue there’s.

00:11:12.994 → 00:11:23.944
Nope statement from get faster the reason for friendship post-filing for insolvency was reported later they were in the process of of being acquired but.

00:11:24.085 → 00:11:26.941
Deal fell through as the buyer pulled out.

00:11:27.650 → 00:11:39.437
In Germany you say yes happens he claimed click on done campus that Tzu translated a little bit first we had no luck and then there was bad luck delivery here on Clover targeted.

00:11:39.695 → 00:11:49.447
In EU antitrust inspection and then the you antitrust Authority authorities even searched delivery hero headquarters.

00:11:49.732 → 00:12:00.664
So they’re there in a questionable Market position margins going down profits going down and then the market authorities also searched your headquarter that is not really good.

00:12:00.940 → 00:12:09.711
Place to be now and I mean we we spoke about it quite often on the on the podcast already and I think I mean with all these things is this idea of like.

00:12:09.762 → 00:12:10.972
For every.

00:12:11.482 → 00:12:22.386
A problem for every solution and it seems kind of just like retro engineer that this is something that people urgently need even with something like arrived who claims to like

00:12:22.240 → 00:12:26.735
bring you your favorite scented candles within 30 minutes I mean

00:12:26.714 → 00:12:37.429
it’s nice but how many how many scented candles do people want to have delivered on a regular basis and how much are they willing to pay for a price premium for me and maybe once won a year.

00:12:37.795 → 00:12:52.733
Maybe maybe you should treat yourself a bit more and two more scented candles and also to support the startup scene but yeah I mean with all of these and also there’s a lot of like criticism going on I spoke about how here in my New York neighborhood.

00:12:52.847 → 00:13:01.672
Those super fast delivery startups close down one after the other and they also had to face a lot of criticism for having what is called the dark stores.

00:13:01.759 → 00:13:10.251
So the store fronts which are part of the community part of the city all of a sudden became private places because you were not allowed to walk into the supermarket.

00:13:10.339 → 00:13:18.669
So there were also politicians especially on the more Progressive side who said no we need those spaces to be like public spaces and you can’t

00:13:18.540 → 00:13:21.441
put up a warehouse in the middle of the city.

00:13:21.519 → 00:13:30.633
Yeah I think there’s a lot of lot of question marks still around this business model and we will see how it goes quite a marks good.

00:13:30.783 → 00:13:41.102
Good thing question marks job Cuts kept coming even during summer the current market conditions led to a halfing of open positions.

00:13:41.153 → 00:13:43.677
At the German unicorn startups

00:13:43.548 → 00:13:57.657
and here are some examples including a hiring freeze as established tech company sap we just talked about them office software company lenders joints bigger names and cut 15% of the team

00:13:57.583 → 00:14:01.916
Austrian crypto unicorn bit Panda Cuts more than 25%.

00:14:02.030 → 00:14:11.782
Of its head count and we’ll really struck me with a realistic clock for a platform Mac marklar we seen as unique on candidate in Berlin.

00:14:11.887 → 00:14:22.711
But they first celebrated with their employees using the hashtag one team to post photos and then after this they were announced to fire twelve percent of the workforce.

00:14:23.257 → 00:14:32.523
Not ready nice also Emison aggregator unicorn seller X had laid off staff as a wave.

00:14:32.646 → 00:14:37.231
Of layoffs continues to sweep the industry but

00:14:37.039 → 00:14:45.513
it’s not all bad news as we said eight out of 10 startups in Germany are still looking to hire employees according to a recent survey of Bitcoin.

00:14:45.556 → 00:14:49.646
I would bet it’s the people who are very hard to combine like

00:14:49.418 → 00:15:00.889
we product managers experienced coders and stuff like that I just recently talked to a person who is in charge of headhunting for several companies and they

00:15:00.769 → 00:15:10.000
I thought there was a big opportunity to get a crane encoders to Germany because the company broke down they had something like 2,000 coders guess how much he got.

00:15:10.087 → 00:15:10.801
Two.

00:15:10.897 → 00:15:20.586
They were all swept out it it’s incredible this Market if you already have the skills you can’t buy fintech success even.

00:15:20.655 → 00:15:30.480
If you are an insurance bugging out he money is Insurance giant aliens take on a multi banking app

00:15:30.378 → 00:15:41.427
by the way I think they almost all disappeared they even hired two experienced entrepreneurs but now they pulled the plug on the project and the last top news again turned out at all

00:15:41.271 → 00:15:50.915
why card why caught apparently for each client details to secure 900 million investment from SoftBank reported the financial times.

00:15:51.299 → 00:15:54.822
Let’s go a little bit to my most favorite stuff

00:15:54.720 → 00:16:09.163
housekeeping and time to brag it can is all we can tell you how awesome we are this year’s already half a word so we duck into the analytics of our hosting service in the first half of 2022 our podcasts were downloaded and

00:16:08.962 → 00:16:14.987
hurt in 109 countries across the world that really blew my mind

00:16:14.921 → 00:16:26.393
we also reach the global top 20 entrepreneurship podcasts on Apple podcasts as or apple entrepreneurship all as well as the top 100 business podcast all

00:16:26.318 → 00:16:26.906
pain

00:16:26.849 → 00:16:40.427
Apple for the first time that we know of we only made aware of this since we use a non new analytic service called Potter and in August we apparently did pretty good we would training around the world.

00:16:40.947 → 00:16:50.069
Our podcast was in Apple’s entrepreneurship podcast charts in Germany Ukraine and Croatia fintech Germany was in

00:16:50.030 → 00:16:58.081
The apis Business and Entrepreneurship podcasts in Mauritius yes surprised the hell out of me is well deep Tech with

00:16:58.060 → 00:17:03.518
detector mini was an apples entrepreneurship podcast charts in the UK and Belarus Plus

00:17:03.506 → 00:17:12.340
Global entrepreneurship and business podcasts as we said before plus Charter bills podcast chart global global tag

00:17:12.257 → 00:17:25.502
Global business global news with a India and France guys with very very happy for you support thank you very much and we published a lot of stuff including the new bacteria week and also some zing

00:17:25.436 → 00:17:30.705
Samsung B IP of during startup 0ne for 300 million u.s. dollar

00:17:30.612 → 00:17:40.095
all employees are fired and that was one of the strongest performing blocks this summer Chris I talked enough can you take over their care system.

00:17:40.317 → 00:17:47.890
And keep in mind you’re still you still challenge for keeping your black belt in geography so

00:17:47.888 → 00:18:02.321
well it will be coming up but first of all let’s take a bit of a step back and have a look at the ecosystem with some inspiring articles that we found one is that we start out with two questions from legendary.

00:18:02.435 → 00:18:04.554
Venture capitalists Hunter walk.

00:18:04.749 → 00:18:19.002
Claiming that these two questions are what you need to understand the next few years of venture and startups number one is it a tech reception or general recession number two will there be one category winner of multiple.

00:18:19.071 → 00:18:27.842
Five billion plus winners in our show notes you can get more in depth of these encouraging questions

00:18:27.822 → 00:18:37.349
we also see some Grim news for the German economy on the horizon and here there are not yet the news of the potential natural gas shortfall in the fall fully included.

00:18:37.409 → 00:18:45.181
German consumers are spending less money than they used to retire revenues took a dive by around nine percent in June.

00:18:45.205 → 00:18:54.867
It’s the largest day for 28 years it does not look good for all retailers but especially offline retailers are struggling a bit

00:18:54.819 → 00:19:02.600
I guess it’s a bit of yeah part of what happened and what also had to do partly with the

00:19:02.489 → 00:19:10.918
many subsidies or money being handed out during the pandemic which I guess LED in a couple of countries to the fact that there was much more,

00:19:10.933 → 00:19:21.424
money in the market which then leads to the inflation and so on and so on and inflation being a psychological phenomenon that’s hitting nearly many countries well well well it’s.

00:19:21.880 → 00:19:30.795
You come yeah it’s a long story anyway Swiss startups raised 2.6 billion Swiss Francs which is also.

00:19:31.045 → 00:19:33.496
Roughly the same amount of money in euros and.

00:19:33.646 → 00:19:42.588
Dollars in venture capital in the first half of 22 the government is discussing government-backed fund to support Innovative Swiss Tech startup.

00:19:43.747 → 00:19:58.702
We have an article about this in the show notes and Venture Capital investments in Austrian startups also show no sign of slowing they raised 881 million euros in venture capital in the first half of twenty to sixty seven percent

00:19:58.510 → 00:20:05.076
increase versus the first half of 21 but they have been more smaller Investments made.

00:20:05.460 → 00:20:18.255
The startups in the first half of 22 I’m not beating the single largest VC funding from the record you have 21 despite 300 million euros funding for goal student.

00:20:20.008 → 00:20:34.081
Bringing our Focus back to Germany couple of news here the Venture Capital investments in Germany dip by 20% in money in the first half of 22 and 7% in numbers but it was still the second.

00:20:34.204 → 00:20:43.633
Best half year on record and then something very specific so to Germany which turned out to be a very like

00:20:43.468 → 00:20:55.021
beloved idea of the German government the 9 Euro ticket in order to explain that for foreign listeners in Germany in June July and August you could.

00:20:55.531 → 00:21:04.653
Basically by a flat rate for buses and local trains for 9 Euro for the whole country I did it it was awesome.

00:21:05.586 → 00:21:11.621
People loved it obviously people love it and it also makes sense in terms of.

00:21:11.735 → 00:21:21.028
The environment and yeah so the the whole thing also LED

00:21:20.962 → 00:21:34.117
to the fact that the not covered long-distance buses grew a big headache buses departing the same day have full at most so this is one of the

00:21:34.079 → 00:21:36.593
collateral damages there as well.

00:21:37.103 → 00:21:49.403
Amazon had 56% of the German e-commerce Market in 21 translating to more than 47 billion euros in revenues and up from six percent from five years ago

00:21:49.364 → 00:21:50.880
so it’s really like.

00:21:50.904 → 00:22:00.386
Crazy the EU wants to set up its own satellite Network for fast internet connections now Germany push the initiative to include start-up as well.

00:22:00.887 → 00:22:04.068
Germany moves to legalize cannabis expected

00:22:03.930 → 00:22:11.648
to create a domino effect we’ve talked about it in an interview already you can find the link in the show notes

00:22:11.510 → 00:22:21.037
and German white hat hackers at cows Computer Club hack the video It Doesn’t from Six National International providers as a result of German Regulators stop

00:22:20.989 → 00:22:24.800
video identification for certain activities.

00:22:25.211 → 00:22:39.699
Moving on to companies who were able to collect some money yes or companies who could like the dot data about collecting money most of the time we now

00:22:39.579 → 00:22:47.675
relying here in this special part of the ecosystem funding numbers on CB insights and competitors.

00:22:47.717 → 00:22:57.929
Funding to cybersecurity startups dipped a little bit defined Global fintech funding sees lowest level since Q for 2020

00:22:57.791 → 00:23:07.003
the state of venture capital report Global funding declined by more than 20 percent for a straight quarter tiger leads

00:23:06.901 → 00:23:07.930
a shift.

00:23:08.188 → 00:23:18.490
And shifting lineup of most active investors and Venture Capital sees a Slowdown But Here Comes the good news at the end why 230.

00:23:18.559 → 00:23:28.176
Building US dollars of dry power sit on the side that means to be seized have to invest at one point 230,

00:23:28.182 → 00:23:31.552
Berlin US dollars.

00:23:32.440 → 00:23:38.205
Next section talk about Hops and deserving cities and entrepreneurs who will never get any English

00:23:38.067 → 00:23:44.164
coverage and first up of course my home turf Frankfurt I’m also something I wrote

00:23:44.035 → 00:23:54.301
as rhyme and feces so to say my hobby project yes I’m sitting here and filling out the Excel sheets I know I have said live a startups in the greater right man area have raised in.

00:23:54.352 → 00:24:02.889
The first half of twenty twenty two more funding than in all of 2021 that’s a good news we’ve tracked 28 deals with 407

00:24:02.778 → 00:24:12.161
million Euros which would be approximately half of what all of Austria raised we also fought 20 Investments over 20

00:24:12.149 → 00:24:21.389
20 and 20 21 the state of hessen made in there Corona a program valued at only eight point eight

00:24:21.341 → 00:24:32.128
million years in companies we classified as startups and Frankfurt based note energy raises 7 million euros in series a funding.

00:24:32.675 → 00:24:42.526
We go little bit to the South to darmstadt Hornet Security based in Hanover Hanover Germany acquires cyber security training expert

00:24:42.442 → 00:24:48.656
it sealed based in the upshot we talked to those guys in our interview

00:24:48.501 → 00:24:55.642
and the Drone startup yes we also covered them win copter is looking for sites to set up a factory since.

00:24:55.729 → 00:25:04.356
This is expensive they’re also looking for new funding of course you can learn more in the interview with the CEO we did some time back

00:25:04.308 → 00:25:06.463
often booked an addict.

00:25:06.622 → 00:25:14.547
Not geography here but I tried to give you some perspective a city with a bit over 60,000 people pretty close to Strasburg

00:25:14.418 → 00:25:26.241
Vai startup conversion maker raises 4 million euros in Venture Capital the city of Copeland’s close to: and I have a population of about 100,000 people not too far from Frankfort as well

00:25:26.121 → 00:25:29.284
NBA legend LeBron James invest.

00:25:29.866 → 00:25:41.644
Amongst others in 30 million u.s. dollars private Equity investment round in Copeland’s based Canyon Bicycles to fund the u.s. expansion and I headed over to the.

00:25:41.731 → 00:25:44.885
Black belt in geography Christian.

00:25:45.359 → 00:25:56.858
And moving to the north to Hamburg where we see that startups winner raised 1.2 million euros for their new AI tool which will help trade of electricity.

00:25:57.134 → 00:26:06.229
And Hamburg based Postmates clone ringu raised five million euros and funding in in hopes of being.

00:26:06.370 → 00:26:13.071
Valuable competitor there Kaiserslautern also known as a K-Town because of.

00:26:13.176 → 00:26:17.338
Still being a city I think with a lot of US soldiers,

00:26:17.353 → 00:26:29.005
in it and around it our 2021 interview guests lupus Eda just raise their seed funding they’re working on a game-changing technology for developing semiconductors.

00:26:29.038 → 00:26:29.950
Um

00:26:29.956 → 00:26:44.858
you can learn more in the show notes the main reason sorry Chris the main reason for the for lots of American soldiers is a the abbes Ramstein and the military Hospital in Landstuhl which are very important installations in Europe for the US military go ahead.

00:26:44.882 → 00:26:49.251
Munich that is a city people know.

00:26:49.347 → 00:27:01.062
Has been faring well during Corona their insolvency has declined in 2021 by nearly 14 percent only 334 companies according to a recent report.

00:27:01.095 → 00:27:02.574
It by Munich startups.

00:27:02.661 → 00:27:11.171
So I think in that case it does not just include startups but also like your little Mom and Pop shop but still the economy in Munich being relatively healthy.

00:27:11.276 → 00:27:20.570
Moving on to Switzerland as we always say we are focusing on all German language markets and in Switzerland we see that metaphysics.

00:27:20.630 → 00:27:27.177
With AK is an immersive technology startup from lausanne Switzerland lausanne also fun fact

00:27:27.003 → 00:27:38.871
the hosting city of the very first ever European Song Contest in 1956 now metaphysics Race 2 million u.s. dollars in Venture Capital to bring their solution into the metaverse.

00:27:39.283 → 00:27:47.180
Swiss fintech yokoi is competing against other startups managing corporate spending like mosque few and Spenders.

00:27:47.385 → 00:27:56.948
But spend desk but argue it’s not a winner-takes-all market and divestitures seem to agree so far they are rumored to be valued at 500 million dollars

00:27:56.945 → 00:28:03.384
Swiss startup type V has Type Y is receives a 500

00:28:03.373 → 00:28:11.540
thousand US dollars from y combinator to continue developing the AI powered smartphone keyboard for consumers so

00:28:11.475 → 00:28:20.633
very much looking forward to that and the biotech startup Tropic bioscience bioscience has raises 35 million u.s. dollars led by Blue

00:28:20.594 → 00:28:23.342
Verizon and in

00:28:23.340 → 00:28:36.666
Austria keep in mind the news from the ecosystem and funding on the job cuts at Big Panda and the Stalls of Veen proud of Vienna bit highly going skiing Bahasa is a newly set of venture capital fund owned by the city of Vienna

00:28:36.573 → 00:28:44.768
they aim to invest 50 million euros in the city’s startup scene which sounds like a very profound.

00:28:45.368 → 00:28:50.943
Profound steak lsf 2030 is a new life signed.

00:28:51.013 → 00:28:58.037
Site life science fund raised in to roll Austria Austria they looking at 50 to 80 million euros.

00:28:58.169 → 00:29:07.796
And opal wunderkind was an edge attack an early start up in Vienna their building of dreaming robot toys for children ended for now in an insolvency though.

00:29:08.432 → 00:29:17.284
Vienna based mental health startup stress coach exits to boston-based kga ink and.

00:29:17.497 → 00:29:25.782
Yeah I mean stress coach make a guess of what it offers my guess is those little balls that you need to screw.

00:29:26.112 → 00:29:29.995
In order to stay calm.

00:29:30.749 → 00:29:44.642
Which lets me move on to more General news Tech News company new section even more investors and new funds are still raised the German federal government and crazy done child for Vida of poke FW unveiled the new Venture Tech

00:29:44.621 → 00:29:53.419
growth financing depth fund for growth stage tech companies with 12 125.

00:29:53.614 → 00:30:02.241
Megan Jarreau tickets jointly by private investors we have more about the strategy behind it also in the show notes.

00:30:02.635 → 00:30:11.064
Einstein Industries Ventures and new Venture Capital fund aiming to raise 300 million euros and invest them in European space startups exciting.

00:30:11.385 → 00:30:22.695
Hi Lehman Brothers exited their daily deal to Google Now they want to convert their family office into an impact Venture Capital fund aiming at 500 million euros for the first.

00:30:23.556 → 00:30:34.839
Form a VC fund managers for June fund and Atlantic Labs food are raising two new funds for their new VC in Berlin one seed and one growth aiming for 220 million euros

00:30:34.746 → 00:30:43.661
we already mentioned starts of in the city of Vienna is initiative X Ange is a VC with French roots or.

00:30:43.739 → 00:30:45.506
Probably done is exons.

00:30:45.674 → 00:30:55.787
And already they’re already having an office in Munich now they open an office in Berlin and raise 220 million euro fund to invest mostly in German startups.

00:30:56.405 → 00:31:01.936
The headline VC closes over 950 million dollars to invest in early stage startups.

00:31:02.131 → 00:31:10.857
French Musial II may have what you are looking for a new deep Tech fund for Europe startups as Alia alpha-2 closes at 77 million euros.

00:31:11.358 → 00:31:21.749
Cafe Innovation launches what would surely be one of the largest multistage VC funds with 1 billion euros family-owned home appliances company for vac.

00:31:22.107 → 00:31:23.658
Which.

00:31:23.961 → 00:31:35.946
They I mean it’s a Dyson competitor I mean for vac is like it’s a proud German industrial story we will talk about one day they raised with their four vac Ventures the next fun totally.

00:31:35.970 → 00:31:38.404
Totaling 150 million euros.

00:31:39.274 → 00:31:53.860
And finally very few selected fundraisings for companies I will just like speed through it but in based marketing automation startuprad.io rocket naps 24 million dollars and buys a new york-based sale play.

00:31:54.029 → 00:32:02.233
Despite current market conditions munich-based deep Tech startup sellers raises 25 million euros in series a funding.

00:32:02.806 → 00:32:10.551
Berlin by Scott most lens 21 million 29 million euros to streamline payments for migrant workers.

00:32:11.151 → 00:32:22.200
The berlin-based intro Tech element deleting white labor provider of digital Insurance Solutions is receiving an additional investment of 16 million euros from existing and new investors.

00:32:22.683 → 00:32:30.545
Conversational chromers as a service platform Charles raises a series a funding of 20 million u.s. dollars to become Europe’s market leader.

00:32:30.884 → 00:32:42.617
Satellite startup life e0 raises 19 million euros from investors and eib Andy you’ve research funding for their automatic recognition of dangerous to pipelines railroads and power lines.

00:32:43.046 → 00:32:47.244
Um which sounds like an important Endeavor to be in.

00:32:47.268 → 00:32:56.192
And gun Zilla games raises 46 million dollars to redefine the Battle Royale genre by letting players trade their in-game items.

00:32:56.216 → 00:32:57.633
Off the Grid.

00:32:59.475 → 00:33:06.986
I’m pretty sure you’re one of those people who has like a couple of very pricey virtual swords.

00:33:07.478 → 00:33:18.689
I once became I once became a victim once became a victim of PayPal theft and all of a sudden on PayPal popped up that there was like it was a pretty substantial.

00:33:18.893 → 00:33:27.808
Amount it was like 900 euros or something for a virtual Shield of apparently a character in one of those multi like online roleplay things.

00:33:28.120 → 00:33:39.835
But then I was able to stop it by calling the bank and the bank lady she was really she was really in on the joke she was like sure let me refund you for your virtual.

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For your virtual things let me let me put the money bag and what else do you need today and she thought it was very funny so anyway.

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Fin Tech news and Tech news for me as UK German fintechs some up razor 624 million at eight point five billion valuation.

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With its payment and business Tech now used by 4 million as a bees the investment was led by

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Bain Capital Tech opportunities with funds from BlackRock POV partner centerbridge Crestland fin capital

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enter on in this yet unclear if it was down round or not your new broker scalable Capital surpasses 10 billion years

00:34:20.640 → 00:34:30.176
in the client assets under management German fintech a raisin dies by stop payment services from Bangkok service team from Bunkhouse lens

00:34:30.038 → 00:34:44.904
in Munich raisin already owns a license Bank in Frankfurt you can learn more about the founder in our interview I did now raising funds shelving Germany’s largest fintech exit for now we also reported

00:34:44.811 → 00:34:53.537
about this you can learn more of course in the interview + ID now group invests in European platform and points jean-marc.

00:34:53.651 → 00:34:58.281
Quickly yet so sorry for buttering the name as vice president of engineering

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and eventually you Wendy buy now pay later hype is almost over Dutch bug enters the market and during the crypto boom bitch Max wanted to buy munich-based.

00:35:09.540 → 00:35:17.231
Bank Bunkhouse fundal height now the bank is looking for a new buyer and some Tesla news related to Germany

00:35:17.093 → 00:35:28.961
too many cameras in the test lab Berlin pulleys bends Tesla cars from their properties Tesla’s gigafactory in building stops delivering of model of wife for the time being

00:35:28.877 → 00:35:37.054
and during some of the gigafactory closed down for approximately two weeks Chris you want to do some general news yet.

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Justin Corp one of the big.

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Giants and German industrial history invests in aging and malaria based kept on adding digital paper use and acid as a service solutions for industrial customers to their offering

00:35:54.029 → 00:36:00.360
and I guess something that we’ve never spoken about on a podcast so far is

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Kenya based intro Tech startup it’s called M Tech started by in German entrepreneur named Ben took Hawkman and they have Warren Buffett already amongst their clients it’s a fascinating story.

00:36:12.403 → 00:36:21.858
Germany’s 2022 content shift short lists five companies you can mod learn more about the shortlisted startups of the last year’s and our interviews with them.

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Salon do berries the shopping service salon and puts launched in the US market on hold

00:36:28.724 → 00:36:33.345
Germany cannabis investment platform juicy fields.

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Is feared to be a scam the investors cannot access their accounts the founders disappeared and even the financial Watchdog in Germany Baffin warned already in March not to invest.

00:36:44.739 → 00:36:47.271
So dried fields.

00:36:47.413 → 00:37:02.152
Rather than juicy Fields foodtag the vertical farming set up in farm is a unicorn but apparently only makes millions in revenues now their revenue in the first part of 22 shrank by 3.6% but Rose in the first half

00:37:02.077 → 00:37:09.291
by 33 percent it’s still not a good sign for unicorn in the current environment.

00:37:10.071 → 00:37:20.418
That’s it and we call it a special episode for a reason because it’s a bit longer than we usually do we will be back September 29th with our September wrap-up.

00:37:20.685 → 00:37:26.737
Which here now Google doc was initially called a walk up so I think we do a walk up and a wrap-up

00:37:26.690 → 00:37:34.308
at the same time we still have some more inspiration in our stay ahead of the curve section in the show notes

00:37:34.170 → 00:37:46.110
talking about strategic investors being overrated software-as-a-service MMA is who multiplied and the dreaded down rounds share a shaving billions of startup valuations.

00:37:46.360 → 00:37:58.615
But apart from that I still hope that you can all enjoy the last days of summer the first days of fall enjoy what a new season brings embrace all the feelings that it brings with you and

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maybe go by a scented candle or two and of course send us ideas what award Pub could be.

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We are open to your suggestions Chris was a pleasure as always talking to you by from Frankfurt hi guys live from New York.

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Music.