Startup Funding in Times of Corona
2020 started pretty well for startups headquartered in the Greater Rhine-Main Area with a record-breaking 310 mn Euros in new funding.
The quarter is surely record-breaking, especially given the nimble Q1 2019. One does not have to be a prophet to see that the impact of corona will be big and cannot be reliably estimated as of now.
We will keep you updated (as always) on the most recent funding rounds on our Twitter account.
Noteworthy fundraisings in 2020 Q1
The main driver has been again been several large rounds. In total, we had 310 mn Euros raised by only eight startups. As always we are under NDA for a few fundraisings and so we can not disclose all data here. Let us talk you through a few of them:
- Noteworthy is the second closing of Volocopters Series C, which totals 87 mn €. According to our tracking, only 32 mn Euros was additional funding https://buff.ly/2PpfpdJ
- Scoutbee form Würzburg closed 60 mn US$ (54 mn Euros) https://buff.ly/2O0Y4r5
- Again BioNTech has been present with a funding of 135 mn US$, for their corona vaccine search https://buff.ly/39ejGHW
- Also, we have Iwoca in our numbers, who raised 100 mn Euros to lend to their German clients (https://buff.ly/3aatsfb). What is also promising is that this investment could only be a test for further investments. The money was designated for the German market. Their German headquarter is located in Frankfurt and since they received the funding for the German market, we included them in our numbers.
The overall picture
We highlighted the 2020 numbers. We really hope that all startups and investors will get well through the current lockdown! Thumbs pressed for a speedy V-shaped recovery.
Keep to date
You can keep up to date, by following our blog here, or our Twitter account. On the social media channels, we also post on these channels content related to venture financing in the greater Rhine-Main Region.
Hashtags to follow
Have a look on Twitter for Frankfurt and the wider Rhein-Main area: #rheinmainrocks, #frmstartupscene #frankfurtvalley or #startupradio
Jörn Menninger for the partners of RhineMain.vc