This Month in German, Swiss, and Austrian (GSA) Startups — June 2023 | Episode #388
Welcome to our June 2023 wrap-up with vital news from the startup scenes in Germany, Austria, and Switzerland in 30 minutes or less 🙂.
We follow our top-down structure in the news.
Welcome to our startup news wrap-up for June 2023 by Startuprad.io with Chris from New York and Joe from Frankfurt. We recorded this news episode on June 27th, 2023. All news not yet included here will be published in our next news episode. Find all links to the quoted news on our Medium blog link below.
Note: We will now go into the summertime: In July and August we will only publish content every other week AND the next startups news will be our summer wrap-up, to be published on September 4th, in the US celebrated as Labor Day.
Our Highlights:
1 Komma 5, a Greentech startup, becomes a unicorn after only 23 months. We are wondering if this is the rise of climate tech startups already? Switzerland has a record funding with Teylor of 275 m €. GetYourGuide shows travel tech is back in favor of VCs with 194 m US$ funding. Germany and Intel agree on subsidies and investments for a new mega chip factory worth more than 30 bn Euros. Fernride, a pioneer of autonomous electric trucks, gets a 30 M US$+ Series A funding.
Let’s talk startups:
The Video Podcast Will Go Live on Thursday, June 29th, 2023
The Audio Podcast Will Go Live on Thursday, June 29th, 2023
Tune in to our Internet Radio Station here:
Questions Discussed
1. What are some of the challenges faced by startups in the HR tech and fintech industries, as discussed in this episode?
2. How do government investments in mega chip factories and the green subsidies received by Intel impact the startup ecosystem?
3. What are some of the services and support provided by organizations like Hasn’t trade, Invest in the European Enterprise Network, HTAI, and the Enterprise Europe Network for startups?
4. How can platforms like Startabraven.com help entrepreneurs connect with investors and cooperation partners?
5. What are the implications of the delays in tax filings by Austrian fintech Taxify? How can startups avoid such issues?
6. How does BitPanda’s offering of 2.5% interest affect the competition among fintech startups in attracting deposits?
7. What are some of the key factors contributing to the success of Swiss startups in attracting investments from global technology companies like Google, Microsoft, and Alibaba?
8. What are the potential benefits and challenges of autonomous driving technology, as discussed in the episode? How do these impact the development of autonomous vehicles?
9. What are some of the notable fundraising and exit stories mentioned in the episode? How do these reflect the overall state of the startup scene?
10. How can the new seed funding program launched by AXA Venture Partners benefit startups in the region?
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Our Enablers
This recording is supported by HTAI and the Enterprise Europe Network Hessen
This recording was made possible by HTAI and the Enterprise Europe Network Hessen. These organizations have made tremendous contributions to helping startup businesses succeed and thrive, providing a range of services from helping to find grants to ongoing partnerships. By taking advantage of these resources, startup companies can network and develop innovative strategies for success on the international stage. The dedicated support of HTAI and the Enterprise Europe Network Hessen is paramount in providing startup businesses with the tools for lasting success. Look for our dedicated sub-podcast in partnership with them: Tech Startups Germany on our
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The best way to identify investors and cooperation partners for early-stage startups. Sign up for early access here:
Top News
The Rise of Climate Tech Startups Has Begun, So It Seems
Hamburg’s 1KOMMA5° has raised €430 million — and just become a unicorn at just 23 months old https://buff.ly/435Qejo
Related: 1KOMMA5 buys danish solar company Viasol https://buff.ly/3XoSyAZ
Related: 430 mn debt funding https://www.trendingtopics.eu/enpal-weitere-430-millionen-euro-debt-funding-fuer-das-berliner-unicorn/
A Record Funding for Switzerland
Swiss-based SME lending fintech Teylor raises 275 m Euro, gaining Barclays as a new investor. Other investors include M&G Investments … https://buff.ly/43l6RIX
Traveltech Startups Seem to Be Back
GetYourGuide raises $194 million to fuel curated travel experiences and global expansion https://buff.ly/3J9Bbhw
30 bn For a New Chip Factory
Intel, Germany strike record €30B deal for chip mega-factory https://thenextweb.com/news/intel-germany-strike-record-e30b-deal-for-chip-mega-factory
Do You Know Fernride?
FERNRIDE a German pioneer of autonomous, electric trucks, raises 31 M USD in Series A funding https://buff.ly/46qewaH
Housekeeping & Time to Brag Joe
We are now officially a global Top 100 Tech Podcast
Just last week, we cracked spot #96 in Chartable’s Global Top 100 Tech Podcasts.
Publication Schedule:
During July and August, we will still have entrepreneur interviews and entrepreneur tools for you, but only published every other week, so twice a month. You can expect our summer wrap-up to be published as a Labor Day Special on Monday, September 4th. From then on, we are back to a regular, weekly publication schedule until Christmas.
Ecosystem
Relevant News from the World
- Harbinger of bad news for the VC world? Exclusive: SoftBank prepares a new round of layoffs at Vision Fund https://buff.ly/43BTrIE
Relevant News from the EU
- PitchBook’s insights into European Private Capital in the first half of 2023 https://buff.ly/3r8iWCQ
- European Innovation Council in line for an extra €2.6B in EU budget review https://buff.ly/432XSeu
- Europe kicks off new support measures to help (future) deep tech innovators scale up their businesses https://buff.ly/3J9vG2i
Focus on Germany
- According to a recent study, GSA companies are among the 50 most innovative in the world. They include Siemens, Roche, BioNTech, Merck, Bosch, Mercedes Benz, and BMW https://buff.ly/443zgmE
- Insolvencies in startups could reach a new record in Germany — according to a press report — in Q1'23 67 startups filed for insolvency, vs 39 in Q1'22 https://buff.ly/44mrUL6
- Germany is the 2nd most attractive destination for renewable energy investments, overtaking China, according to a recent EY study https://buff.ly/3NsZhFh
Hubs
Here we want to highlight some hidden gems and cities of general startup interest. Berlin and Munich are so large they are excluded here. You will find their news in the respective sections.
Frankfurt / Rhein-Main-Area
- German edtech startup Tomorrow University raises 9,3 m Euros in new funding https://buff.ly/43ZXEGe
- Insurtech startup Thinksurance Raises $24M in Funding https://buff.ly/42Xy5nP Learn more about the company its founder in our 2019 interview here: https://www.youtube.com/watch?v=4wdlmQaEYFs
- Total fundraising tracked by our project RhineMain.vc (https://rhinemainvc.medium.com/) has surpassed 150 mn Euros venture capital for H1 2023. We will soon pick up our blogging again … sorry for the delay.
Freiburg
- According to a recent blog post in Germany, Tesla is buying the startup Wiferion from Freiburg, Germany. They offer inductive robot charging https://buff.ly/46hTUkO
- Freiburg-based NexWafe secures €30 million to build first commercial-scale green solar wafer plant https://buff.ly/3Pi8jr8
Tübingen
- Tübingen-based Meshcapade Raises $6M in Seed Funding https://buff.ly/3pu8dSL
Dresden
- Sachsen: Wandelbots was one of the stars of the German startup scene. Now they focus on the software and cut 30% of their headcount https://buff.ly/440kbmi
Austria
- Vienna-based #HRTech startup Gustav is bought by US-based Fuse Cooperative https://buff.ly/3NzWdYe
- Austrian fintech Taxefy faces criticism. According to a recent press report more than 50.000 tax filings are delayed in their pipeline https://buff.ly/46rcFCo
- Bitpanda joins other fintechs in the race for deposits and offers 2,5% interest https://buff.ly/42CaAAJ
Switzerland
- CHF12 million to ensure safe drinking water around the world https://buff.ly/3Jv37ws
- DePoly Raises CHF12.3M in Seed Funding https://buff.ly/3r2VNlx
General News / Tech News / Companies News Section
A little note here. Since we aim to inform you about the startup world in GSA, SMEs, and large enterprises are also active in the markets. Therefore we include some news of them here as well, where we believe they have an impact on our relevant segment of the GSA economy:
New VC Funds, If You’re Looking for Money
Our show notes will have more information on where to pitch these investors: medium.com/startuprad-io. Note here that we include all funds we find (mail or comment if you know about more) that are not excluding investing in GSA startups one way or another:
- There will be a special publication on our blog for the summer
- Just a highlight: Axa Venture Partners Launches New €1.5 Billion Late Growth Strategy https://buff.ly/3Pyrnlc
Fintech News
- The fintech Cure Finance wanted to provide financial services to healthcare professionals but has to file for insolvency. According to a blog post an investor just did not pay their investment | FinanceFWD https://buff.ly/3PxzmPn
- Homelike wants to be a leading proptech startup in the rental space. They are now merging with Q Global Network to create the largest flex living platform for business travelers and remote workers https://buff.ly/42MaS7V
- After the crash of Silicon Valley Bank and the takeover of the British SVB by HSBC, the German branch is up for sale reports FinanceFWD https://buff.ly/42ZmQvk
- Former CMO for Wolt in Germany joins fintech Unitplus as CMO reports FinanceFWD https://buff.ly/3CMSbq7
- According to a German press report, high-ranking managers in Europe are leaving Binance https://buff.ly/3Cvd9cU
- Fintech unicorn Taxfix cuts 120 jobs https://buff.ly/3XdJoqI
General News
- Dogs of BND: Germany’s Federal Intelligence Service Bundesnachrichtendienst starts an NFT collection as part of their recruiting effort https://buff.ly/3Pw8lMc
- We have talked about Infarm’s possible plans before. This seems to confirm it: Infarm closes former headquarter in Berlin. Now retailers with their Infarm installation are asking for compensation for their early retreat, according to a recent press report https://buff.ly/3JuXjmE
- The nephews of German chancellor Olaf Scholz did not succeed with their savings app, but now they want to help German companies hiring international talent https://buff.ly/3PA6Ywg
- Rocket Internet: Oliver Samwer paid himself a 260 M Euro dividend https://buff.ly/44hPIzO
Schumpeters Schöpferische Zerstörung ⇒ Creative Destruction Still Ongoing:
Schumpeter was one of the most influential economists of the 20th century and coined the term creative destruction in German Schöpferische Zerstörung and Entrepreneur. Learn more about him here: https://en.wikipedia.org/wiki/Joseph_Schumpeter
- Gin startup Tastillery has to file for insolvency. May that be the end of the Gin hype? https://buff.ly/43NrhKJ
- German #2ndhand marketplace Mädchenflohmarkt had to file for insolvency and is now looking for new investors https://buff.ly/3NvHsWg
End on a High Note: Successful Fundraisings and Exits:
Keep in mind this is a small selection. The news here and their total value show how resilient the startup scene is. We included only selected fundraisings above 5 million Euros or USD
- „Hidden Champion”: ABB buys Munich-based smart home startup Eve Systems https://buff.ly/3NzWwlQ
- Scout24 buys Sprengnetter Gruppe a leading data provider for real estate data and valuations https://buff.ly/3CQajje
- Digital out-of-home advertising network Hygh raises €21.5 million https://buff.ly/3NO5BbL
- CleanHub secures 7 m € to protect the oceans from plastic waste https://buff.ly/43YbyIX learn more about the founder and their business in our interview: https://buff.ly/36rMdM5
- After BMW teamed up with Amazon’s Alexa, Mercedes-Benz will use ChatGPT via Azure https://buff.ly/3Xwbs98
Stay Ahead of the Curve
- Strategy for Start-ups | HBR https://buff.ly/2OCgd1U
Automated Transcript
Narrator Dorsey Jackson [00:00:05]:
Welcome to Star brad.i0, your podcast, and YouTube blog covering the German start up scene with news interviews, and live events.
Jörn “Joe” Menninger [00:00:20]:
Hello, and welcome, everybody. This is Joe from start up right. io. You’re a start up podcast. You to block an Internet radio station from Germany with the start up news and interviews you need to go. I would like to welcome my cohost and cofounder for the startup news, Chris.
Christian “Chris” Fahrenbach [00:00:38]:
Hey, everybody. Yeah. So turning to my phone on and off will be a thing today because there’s construction going on at my apartment, so apologies in advance. But apart from that, I say hello from very humid New York. We left the bad like, the the wildfires behind us, the wild the orange wildfires that you might have seen, but now We are in New York Summer.
Jörn “Joe” Menninger [00:01:02]:
Same here. And actually, there was somebody listening to very loud music outside apparently from our neighbors. And I was checking and said, oh, that’s just annoying. And it’s modern talking. So I’ll I’m I’m not really sure if I’m really old when I realized I was modern talking. Anyway, welcome to this month in German, Swiss, and Austrian start ups. June 2023 wrap up This is celebrate that I owe episode number 388. Chris, can you believe it? It’s amazing. Right?
Christian “Chris” Fahrenbach [00:01:33]:
It’s a lot.
Jörn “Joe” Menninger [00:01:35]:
Yeah. It’s a lot. And you are off the hook with a bagel. I heard the sirens in the background. We are trying to wrap up the whole month in 30 minutes or less again with our top down structure. Chris? is as always in New York. I am as always in Frankfurt. This needs recording This news episode was recorded on June 27th. Pretty late. I have to admit, all news not yet included here will be published in our next news episode. Find all links and the quoted news on our medium blog link below. Note We will now go into summertime. In July August, we will only publish content every other week, and the next start up news will be summer wrap up to be published on September 4th in US celebrated on Labor Day. Our highlights, Eins Commer Finthe,1.5
Jörn “Joe” Menninger [00:02:34]:
1.5 degrees. That’s the goal for the maximum global warming. I need to come up with a green tech starter becomes a unicorn only after 23 month. We are wondering if this is the right of the climate tech startups already. Switzerland has record has a record finding funding with Taylorof €275,000,000.
Jörn “Joe” Menninger [00:03:00]:
Did your guide shows travel tech is back in favor of the disease with 194,000,000
Jörn “Joe” Menninger [00:03:07]:
US dollar funding. Germany, meaning the Republic of Germany Federal Government and Intel Green subsidies and investments for new mega chip factory worth more than 30 €1,000,000,000. And Fahrenheit, meaning long distance stripers, would this be proper translation, long distance, right? The pioneer in autonomous electric trucks gets a 30,000,000 US dollar plus series A funding. So let’s talk start ups. Our enablers. This recording is supported by Hasn’t trade and invest in the European Enterprise Network Hesson. This recording was made possible by HTAI, and the Enterprise Europe Network has an organizations. have made tremendous contributions to helping start ups start up businesses succeed and thrive providing a range of services from helping to find grants to ongoing partnerships by taking advantage of these resources, start companies can network and develop innovative strategies for success on the international stage, the dedicated support of HCI and the European At the enterprise, your network, Hassan, is paramount in providing startup businesses with the tools for lasting success. Look for our dedicated sub podcast in partnership with them, tech start ups, Germany, or you could find it on our Linktree. And again, start up raving.com, the best way to identify investors and cooperation partners for holistic start ups You can sign up for early access on startabraven.com. Maybe you are the 11,000 entrepreneur to sign up. This is just going amazing. Chris, you are miss the top news. Right?
Christian “Chris” Fahrenbach [00:04:58]:
A lot of top news And you were already hinting at it in our little management summary that we are wondering whether the rise of climate startups has begun. In Hamburg, there’s translated as 1.5 degrees, which has raised €430,000,000 in a series b round and is now valued at more than a €1,000,000,000, which means they have become unicorn at just twenty months old age, and they are a startup for solar panels. So they are in the alternative energy industry. We have several articles about this, and we also see that they are already acquiring a lot of companies left and right. We see a record funding for Switzerland, the Swiss based SME Lending Fintech Taylor
Narrator Dorsey Jackson [00:05:57]:
raised €275,000,000,
Christian “Chris” Fahrenbach [00:06:00]:
gaining Barclays as a new investor, and other investors include M And G Investments. So also huge number of significance there. We see that travel tech start ups seem to be back all of a sudden, get your guide raises
Narrator Dorsey Jackson [00:06:16]:
$194,000,000
Christian “Chris” Fahrenbach [00:06:18]:
to few curated travel experiences and a global expansion. So, also, lot of money there for the travel experience marketplace based in Berlin. And there’s 30,000,000,000 for a new chip factory, who are also saying this already in the the little summary at the beginning, and this has caused quite a lot of German media coverage because Intel and the government of Germany or the German administration undersigned this deal. Intel gets
Narrator Dorsey Jackson [00:07:00]:
€30,000,000,000
Christian “Chris” Fahrenbach [00:07:02]:
in subsidies, and a lot of people are wondering whether even if it’s a huge amount of jobs that are being created, whether this is worth it or if it’s probably too much interference on the government side in business.
Jörn “Joe” Menninger [00:07:18]:
And we also We also have to say it’s in our news because it’s the largest foreign investment in Germany’s history.
Christian “Chris” Fahrenbach [00:07:28]:
Yes. So a wild story with, I would say, a pretty sure that who knows how this unsure end? Who knows how this is going to end? And then Ferne Wright do you know Ferne Wright, it’s a German pioneer of autonomous electric trucks raising 31,000,000 US dollars in series a. which obviously in that industry is not that much money. And I think in general, it’s just interesting to see that there is still money pouring into autonomous driving. I think it’s definitely a topic that a couple of years ago had gotten more and more attention But now I think there’s a lot of disillusionment because so many companies realize it’s actually pretty hard to come up with autonomous cars And even about Tesla, probably, like, the biggest player in the field in terms of passenger cars, we have seen a lot of stories with excellence and people actually also dying. So very interesting deal there. That’s it for the top news. Let’s do some housekeeping.
Jörn “Joe” Menninger [00:08:38]:
Housekeeping and time to brag. As we said before, July August will be pretty light in terms of publications, and the next start up news will be September 4th. But we have a very good announcement for us. We are now officially a global top 100 tech podcast Just last week, and at the time of this recording, we cracked with the spot number 96 in Chartables Global Top 100 tech podcast. So we are now officially top 100 tech podcasts pretty proud of that publication schedule we’ve already set. And I think that’s all for me right now. We try to keep it trim today. Chris, you wanna proceed with the ecosystem news?
Christian “Chris” Fahrenbach [00:09:26]:
Yes. Ecosystem is usually the part where we talk about startup, culture, and scene in general.
Jörn “Joe” Menninger [00:09:31]:
Now you’re actually overdoing it with the sirens.
Christian “Chris” Fahrenbach [00:09:36]:
Okay. Ecosystem, relevant news from all around the world. We see that or we wonder if it’s a harbinger of bad news for the VC world because SoftBank prepares a new round of layoffs at its vision fund. So even though that is not necessarily related to Germany, Switzerland or Austria, this is such an important player in the whole startup field. that we wanted to include it here. We also see relevant news from the European Union. For example, we have pitch book insights into the European private capital in the first half of twenty twenty three. There’s a link for that on the show notes. we see that the European innovation council is in line for an extra €2,600,000,000 in the U. S, the EU budget review and Europe kicks off new support measures to help deep tech innovator scale up their businesses or future deep tech innovator scale up their businesses. Moving on to Germany, couple of studies and new findings there. According to a recent study, Germany’s and Austrian companies are among the 50 most innovative in the world. They include such established players as Siemens Roche, BioNTech, Merck Bosch Mercedes Benz And BMW. We also see that insolvencies and startups could reach a new record in Germany according to a press report. In the first quarter of
Narrator Dorsey Jackson [00:11:04]:
2023,
Christian “Chris” Fahrenbach [00:11:06]:
67 start ups filed for insolvency versus only 39 in the first quarter of 2022. It’s a bit it’s always a bit iffy to wonder, okay. What is the definition here of the startup? But I think what is interesting is if the definition hasn’t changed over the years, then it becomes interesting to have a look at the trend line and apparently here based on the definition of this study, the number of startup insolvencies goes up. Germany is also though the 2nd most attractive destination for renewable energy investments overtaking China according to a recent study done by Y. Moving on from the world or via Europe and Germany to the hubs in Germany and you have some information of what’s going on in specific cities.
Jörn “Joe” Menninger [00:11:57]:
Exactly. We highlight the hidden gems outside of Berlin and Munich. the Frankfurt Rhine Main area. German edtech startup tomorrow university raises €9,300,000 in new funding. our former guest Intertek startup. The insurance raises 24,000,000 US dollars in funding. Of course, you can learn more about the company and its founder from our 2019 interview almost 4 years ago. We tell you we are ahead of the curve. This proves that once again. The total funds raised tracked by our project Rhine Mine VC has surpassed €150,000,000 of venture capital for the first half of twenty 23 already. We’ll soon pick up our blogging again. Sorry for the delay, but we kept collecting data. Freborg in the south of Germany, according to a recent blog post in Germany, Tesla is buying the startup yferion or vferion from fry book. They offer inductive robot charging. and fiber based next wave secures 30,000,000 to buy 1st commercial scale green solar wafer plant. Tubingen. Tubingen based Maheshka part raises $6 in seed funding. And Tristan Saxon Vandebot was one of the start ups was one of the stars in the German start ups scene. Now they focus on the softwakes. occlusively and therefore have to cut 30 percent of the head count going much further south crossing the German border into Austria and Chris is taking over.
Christian “Chris” Fahrenbach [00:13:44]:
Exactly. Because we always look at German language startups. Now we can take a look at Austria where the Vienna based HR tech startup Gustaf is bought by the US based Fuse cooperative. You also see that the Austrian fintech taxify with an e instead of an iPhases criticism. There have been press reports that more than 50,000 tax filings were delayed in their pipeline. and BitPanda, probably the biggest startup story from Austria who joins other fintechs in the race for deposits and offers 2.5% interest I think also an interesting development in the market to see how interest rates for savings also go up. In Switzerland we move on where we move on to now, there is CHF12 million to ensure safe drinking water around the world. That is a story from the startup ticker dot CH for Switzerland, and it’s a series c investment round for Benovate Technologies. Depoli, Depoli raises CHF12.3
Narrator Dorsey Jackson [00:14:59]:
1,000,000
Christian “Chris” Fahrenbach [00:15:02]:
in seed funding. And That’s all we got for these other countries. We move on to general news tech news companies in the news section where we also have a little note here Since we aim to inform you about the startup world in GSA and SMEs and large enterprises are also in the markets. Therefore, we include some news of them here as well, mostly the ones where we believe they have an impact on our relevant segment of the GSA economy. And we speak about them every once in a while here looking for new VC funds. If you are looking for money, so we will want to give you some advice there of what you can probably where you can probably apply for money. Our show notes usually have more information about this on where to pitch these investors. And there will be special publication on our blog for the summer about this For now just one highlight, the AXA Venture partners launched a new
Narrator Dorsey Jackson [00:16:06]:
€1,500,000,000
Christian “Chris” Fahrenbach [00:16:08]:
late growth strategy, and you can read about that in the show notes. Moving on to Fintech, and you
Jörn “Joe” Menninger [00:16:16]:
In tech news, the fintech Cure Finance wanted to provide financial services to health care professionals, but has to file for insolvency according to a blog post an investor just did not pay their investment rights finance forward. home like wants to be a leading prop tech startup in the rental space. They are now merging with Q global network to create the largest flex living platform for business travelers and remote workers after the crash of Silicon Valley Bank and the takeover of British SVB by the HSBC. The German branch is up for sale. Former chief marketing officer for Walt in Germany joins fintech unit plus, also as CMO. According to a press report, high ranking managers in Europe are leaving finance, and fintech unicorn tax fix cuts
Narrator Dorsey Jackson [00:17:13]:
120
Jörn “Joe” Menninger [00:17:14]:
jobs. A little bit more general news, and I never thought I would have them in our start up news, BND, a Germanist federal intelligence service. Yes. What they did, they start a NFT collection as part of their recruiting efforts called Docs of BND. You can also misinterpret misinterpret that. We have talked about informed possible plans before, this seems to confirm it in form closest format called in Berlin. Now retailers with their in form installations are asking compensation for the early retreat according to a recent press report. The nephew of German chancellor did not succeed with their savings up, but now they want to help German companies hiring international talent. and Rocket Internet. You may remember this. We used to have a Rocket Internet. Connor Chris always did it. 1 of the 3 founders Oliver Samba, paid himself a €260,000,000 dividend after the company was taken private. Chris, you wanna do some creative disruption.
Christian “Chris” Fahrenbach [00:18:26]:
Yeah. Good for Oliver somewhere. Yeah. So Doom, we always talk about it here while we ourselves are stumbling over the syllables. Creative destruction meaning a concept of replacing new ways of doing things replacing old ways of doing things with new ways of doing things. So the stories here is basically about how we make room for innovation. There is, for example, the gin startup taste delivery, which had to file for insolvency, makes us wonder whether this will be the end of the gin hype. I, myself, have never been on the Gin hype train that much. I’m at this skin, what kind of guy? And German 2ndhand marketplace, meaning girls flea market had to file for insolvency and is now looking for new investors.
Jörn “Joe” Menninger [00:19:29]:
You won’t end here with the destruction yet. Yeah? I I am a I am a Jin fan, but only after I started offering Dintronics at family celebrations here in our apartment.
Christian “Chris” Fahrenbach [00:19:42]:
I think it’s just like a very utilitarian drink. You drink gin and Tony to get, like, shit face very fast. I think. Anyway, don’t fight me. Don’t please don’t mail about this. We will end on a high note and an even higher note with stories about successful fundraising and exits. It’s only a small selection. The news here and their total value show how resilient the start up scene is. It’s only a selected few fund raisings above €5,000,000 or US dollars that we learned about in the last couple of weeks. There’s, for example, ABB buying the Munich based smart home startup Eve systems, considered a hidden champion, then scout 24 bought the, a leading data provider for real estate data and valuations. The digital out of home advertising network high with an age ygh, raised €21,500,000. Then CleanHub secured a €7,000,000 deal to protect the oceans from plastic waste. You can learn more about the founder and their business in our interview. And after BMW teamed up with Amazon Alexa, Mercedes Benz will use Chegg GPT via Azure.
Jörn “Joe” Menninger [00:21:04]:
Yeah. Microsoft Azure. Right.
Christian “Chris” Fahrenbach [00:21:07]:
Azure.
Jörn “Joe” Menninger [00:21:08]:
Azure. I know. As as a German, you always pronounce it as Yeah. And I yeah. Yes. In our stay ahead of the curve, we only have one article from Harvard Business Review strategy for startups. And, Chris, we did an excellent job. We barely above 21 minutes.
Christian “Chris” Fahrenbach [00:21:29]:
I will look into strategies for summer now.
Jörn “Joe” Menninger [00:21:32]:
Yes. What’s your plan for summer, Chris?
Christian “Chris” Fahrenbach [00:21:35]:
Nothing. I mean, that is the plan. The plan is nothing.
Jörn “Joe” Menninger [00:21:39]:
That looks right. I am now leaving for 2 weeks of vacation, and as everybody can tell, who is seeing me right now. I really need that. Believe me, guys.
Christian “Chris” Fahrenbach [00:21:50]:
Well, you mean you’re brilliant. Bye.
Jörn “Joe” Menninger [00:21:54]:
That’s why you were my cofounder. Bye, guys. See you again in September.
Narrator Dorsey Jackson [00:22:03]:
That’s all folks, find more news, streams, events, and interviews at www.startofrad.i0. Remember, Chairman is carrying.
