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This Month in DACH Startups - November 2025 | Deep Dive

Cover graphic for Startuprad.io’s ‘This Month in DACH Startups – Summer Wrap-Up 2025’ featuring illustrated portraits of the podcast hosts, highlighting startup news from Germany, Austria, and Switzerland


Welcome to our regular startup news from the startup and tech entrepreneurship scenes in Germany, Austria, and Switzerland. 


This is the deep dive of our startup news the 2nd part of our monthly news coverage. 


November 2025 Startup News (Part Two:

Europe’s Quiet Power Moves)


Mood of the Market November felt like a market switching from sugar highs to protein — fewer flashy apps, more industrial AI, robotics, defence systems, and sovereign cloud capacity. Across DACH and Europe, the story wasn’t “growth at any cost” but “build the infrastructure that makes the next decade possible.” AI shifted from marketing gimmick to industrial backbone, and capital followed accordingly. And despite tighter conditions, the region delivered surprising might: €1.8B+ in fresh VC funds and €400M+ in startup raises, even after we cut everything below €20M. Turns out Europe didn’t run out of money; it just ran out of patience for nonsense. Full context lives in our ecosystem hub: https://www.startuprad.io/post/dach-startup-ecosystem-2025-the-ultimate-hub.


Theme 1: AI Becomes Industrial Infrastructure AI’s transformation from hype to hardware-level infrastructure accelerated fast this month. Anthropic opened hubs in Munich and Paris, Flexion raised big to power humanoid autonomy, and enterprises rushed for vertical AI stacks in healthcare, robotics, logistics, and fraud prevention. Add Schwarz Group’s €11B sovereign-compute blitz, and the message is clear: compute scarcity is now a strategic market, not a technical inconvenience. Corporates may not love change, but they do love survival — and nothing says “risk mitigation” like doubling your AI budget. 


Theme 2: Deep Tech & Defence Go Mainstream Europe leaned hard into sovereignty tech this month, and the funding flows were unapologetically geopolitical. Quantum Systems marched toward a €3B valuation, Reflex Aerospace scored a record raise, Vienna positioned itself as a crypto-sovereignty hub, and multiple defence-tech funds launched to fill the continent’s strategic gap. In total, November minted well over €1.8B in new VC dry powder, heavily weighted toward deep tech, defence, climate, industrial AI, and quantum. The irony? It took a chip crisis, supply-chain chaos, and a few export-control tantrums to convince Europe that strategic autonomy isn’t optional. Our defence-tech deep dive is here: https://www.startuprad.io/post/kfw-research-defense-tech-germany-octber-2025.


Theme 3: Fintech, Climate Tech & Industrial Tech Tighten UpFintech continued its great normalization arc — Berlin pushing for European leadership, complaints at Trade Republic spiking 133%, crypto platforms maturing into compliance-first machines, and Swiss players raising institutional-grade treasury rounds. Climate and industrial tech, meanwhile, delivered some of the month’s strongest momentum: recommerce, energy optimization, industrial inspection, and manufacturing automation all pulled in capital that once flowed to consumer apps. Across our deep dive we tracked €400M+ in fundraisings, even with a hard cutoff at €20M — a polite way of saying the pipeline was overflowing. 


Theme 4: Corrections, Layoffs & a Record Founder WaveNot every storyline was upbeat. Insolvencies hit robotics, fintech, and biotech; Personio and JobRad announced layoffs; and regulatory pressure kept rising across subscription models, mobility, healthtech, and financial services. But in true European fashion, destruction came bundled with creation: entrepreneurship hit a multi-decade high, with 27,000+ new founders entering the arena. The ecosystem is tightening, but it’s also maturing — deeper, faster, more industrial. Now buckle up: our Top Stories ahead cut straight into AI, defence, fintech, robotics, cloud sovereignty, biotech, and a surprisingly bullish capital cycle. 



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Housekeeping & Time to Brag


Frankfurt-based Scavenger AI - a former guest - has secured €2.5 million in Seed funding to bring AI-powered business intelligence to Europe’s mid-market, with BMH leading the round and support from xdeck, HTGF and Calm/Storm Ventures. The company is building a semantic layer that turns complex enterprise data into precise analyses via natural-language queries, aiming to give Mittelstand firms “dashboard-free” analytics while hosting everything entirely in Europe under GDPR. For the German startup scene, this is another example of vertical AI infrastructure built specifically around mid-cap industrial clients—a core theme in DACH where data complexity is high and privacy requirements are strict. [Source]: FinSMEs — https://www.finsmes.com/2025/11/scavenger-ai-raises-e2-5m-in-seed-funding.html


Our former guest Munich-based Edurino has won the “Finale dahoam” at the SevenVentures Pitch Day 2025, securing significant media-for-equity support to scale its hybrid learning platform for children. The startup’s blend of educational content, physical figurines and gamified learning tools continues to resonate with parents and schools, giving it strong leverage in the fast-growing edtech market. For the DACH ecosystem, this win reinforces Munich’s role as a hub for education technology with commercial traction and strong consumer-market fit.

Learn more in our interview:


Startuprad.io scores at No 78 in F6S Top 100 Startups. This is amazing! Thank you for taking this journey with us guys!


Top Startup News


Ecosystem


World


Authorities have dismantled a major international cybercrime network involved in large-scale internet fraud and credit-card theft, arresting suspects across multiple European countries. The group is accused of running sophisticated phishing, malware, and payment-card schemes that caused extensive financial damage to consumers and businesses. This law-enforcement win is another reminder for DACH fintechs, e-commerce startups, and SaaS platforms that fraud sophistication continues to rise and that robust KYC, transaction monitoring, and anti-fraud AI are becoming mission-critical infrastructure. [Source]: Manager Magazin — https://www.manager-magazin.de/politik/internetkriminalitaet-und-kreditkartenbetrug-schlag-gegen-internationales-netzwerk-a-2928973a-b10b-486c-b12b-131f2985b7ab


Europe



Germany 

Austria


  • Manager Magazin profiles Austrian pet-tech startup Tractive, which now exceeds a €1 billion valuation with its GPS-enabled smart collars that let owners track pets in real time and monitor their activity. The piece traces how Tractive scaled from a niche hardware play to a profitable subscription business with international reach, using recurring service revenue and strong brand positioning to survive hardware cycles. For DACH founders, Tractive is a textbook example of how a consumer IoT startup can grow into a unicorn by layering SaaS economics on top of devices and expanding globally from a comparatively small home market.

    [Source]: Manager Magazin — https://www.manager-magazin.de/unternehmen/tech/tier-halsbaender-zur-ueberwachung-wie-das-start-up-tractive-mehr-als-eine-milliarde-euro-wert-wurde-a-b32e3f68-4a27-42d8-8472-92d6256e3517


  • A new analysis reported by brutkasten finds that European deep-tech startups could create up to one million new jobs and add around €1 trillion in value to the EU economy by 2030—if funding volumes roughly triple to about €28 billion annually. The study stresses that capital, talent, and industrial partnerships need to scale especially fast in key sectors like climate, defence, space, and advanced computing, all areas where Germany, Austria, and Switzerland already host strong research institutes and corporate anchors. For DACH founders, this is both a wake-up call and an opportunity: deep-tech ventures can become job engines, but only if they can bridge the “lab-to-market” gap and attract later-stage capital.

    [Source]: brutkasten — https://brutkasten.com/artikel/deep-tech-startups-koennten-bis-2030-in-europa-eine-million-neue-jobs-schaffen (it is here because Brutkasen is an austrian outlet


  • Tech Funding News reports that Vienna is emerging as a contender for Europe’s next major crypto hub, driven by regulatory clarity, strong academic talent, and a growing concentration of blockchain startups. Policymakers and ecosystem players see an opportunity to attract founders seeking stability amid shifting rules in the US and broader EU markets. For DACH crypto and Web3 companies, Vienna’s ascent adds a competitive, founder-friendly alternative in Central Europe with increasing global visibility.

    [Source]: Tech Funding News — https://techfundingnews.com/is-vienna-europes-next-crypto-hub/


  • Note the fundraising of refurbed 


Switzerland


  • Startupticker reports that CHF 172 million in fresh capital has been deployed into Swiss growth-stage startups across multiple sectors, including biotech, fintech, and industrial deep-tech. The funding wave reflects sustained investor confidence in Switzerland’s ability to translate strong research foundations into scale-ready companies. For the wider DACH region, it reinforces Switzerland’s position as a stable growth-capital hub even in a more selective global funding environment.

    [Source]: Startupticker — https://www.startupticker.ch/en/news/chf-172-million-for-growth-start-ups


  • And yes, also some monster fundings for Swiss startups as well. stay tuned. 





General News / Tech News / Companies News Section 


VC News and New Funds, in case you are looking for money (also only a selection):


Aspirity Partners has closed its debut €875 million fund targeting Europe’s next B2B tech champions, aiming to support companies from early growth through later stages. This is highly relevant for German, Austrian and Swiss SaaS and infrastructure startups, as large specialist B2B funds can write the kind of growth cheques that have often been missing in the European capital stack. [Source]: Tech.eu — https://tech.eu/2025/11/05/aspirity-partners-closes-debut-eur875m-fund-to-back-europes-next-b2b-tech-champions/ 


Firgun Ventures has launched a $250 million VC fund dedicated to quantum technologies, with backing from the Qatar Investment Authority. The fund will target startups developing quantum computing, sensors, communications, and enabling hardware. For DACH deep-tech founders, this adds another specialist investor at a time when Europe’s quantum ecosystem is scaling quickly but still capital-constrained at later stages.


Startbase reports that XAnge has reached a €200 million first close for its new early-stage fund, XAnge 5, focused on deep tech, climate, fintech, and software across Europe. With offices in Paris, Berlin, and Munich, the fund aims to back 35–40 companies at seed and Series A. For DACH startups, the sizeable first close adds another well-capitalised pan-European investor with strong German presence and appetite for technical founders.


Startbase reports that Keen Venture Partners has launched a €150 million fund dedicated to European defence tech, targeting startups across dual-use AI, drones, cyber, and secure communications. The firm aims to fill Europe’s widening funding gap in defence innovation as geopolitical tensions increase and EU states demand more sovereign technologies. For DACH founders, this adds another specialised capital source aligned with the region’s fast-emerging defence-tech cluster.


Armilar’s Fund IV has reached a first close at €120 million to back early-stage tech companies across Iberia and Europe, with a focus on deep tech, software and digital innovation. For DACH founders, this extends the pool of experienced cross-border capital that can help build pan-European category leaders, especially for startups eyeing southern European markets. [Source]: Tech.eu — https://tech.eu/2025/11/05/armilar-fund-iv-hits-eur120m-first-close-to-invest-across-iberia-and-europe/


Oyster Bay raises $100M food-tech fund (Tech Funding News)

Oyster Bay, an early backer of Oatly, has closed a new $100 million fund dedicated to sustainable food-tech and next-gen consumer brands. The vehicle targets startups working on alternative proteins, climate-friendly production, and agro-innovation, signalling renewed investor appetite in a sector that had cooled in recent years. For DACH founders in food-tech and climate nutrition, this adds a well-known specialist fund with global reach at a time when scaling capital is selectively returning. [Source]: Tech Funding News — https://techfundingnews.com/early-oatly-backer-oyster-bay-raises-100m-food-tech-fund/


Rubio Impact Ventures has raised €70 million toward its third fund, targeting European early-stage startups in climate, circularity, and social impact. The new vehicle strengthens the firm’s ability to back mission-driven founders who combine measurable impact with scalable business models. For DACH startups in climate tech and sustainability, this adds another well-capitalized specialist fund actively looking for seed and Series A opportunities across Central Europe.[Source]: VCWire — https://vcwire.tech/2025/11/06/rubio-impact-ventures-raises-e70m-for-third-fund/


Tech.eu also reports on a new €1 million “ticket fund” created by a coalition of European founders to back early-stage startups and – more symbolically – to work toward Europe’s first trillion-dollar tech company. For DACH founders, this shows how successful entrepreneurs are increasingly recycling their own capital and know-how into the ecosystem, often with a more founder-friendly approach than traditional VC. [Source]: Tech.eu — https://tech.eu/2025/11/04/europes-founders-unite-new-eur1m-ticket-fund-aims-to-build-the-continents-first-trillion-dollar-tech-giants/ 


A Handelsblatt feature on Nico Rosberg’s Dachfonds shows how the former F1 champion is evolving from direct angel bets in startups like Stark and n8n into a fund-of-funds and co-investment strategy backing top-tier VC firms. This hybrid model is interesting for DACH founders because it channels celebrity capital into professional venture structures that can follow on across multiple rounds rather than just writing one-off tickets. [Source]: Handelsblatt — https://www.handelsblatt.com/technik/it-internet/start-ups-erfolgreich-investiert-nico-rosbergs-dachfonds-geht-neue-wege/100163377.html


Earlybird Health has promoted Dr. Rabab Nasrallah and Dr. Christoph Massner to partner, deepening its specialist bench in biotech and data-driven health as it doubles down on scientific, evidence-heavy theses. This strengthens a key European healthtech investor with strong DACH roots, which matters for German, Austrian and Swiss founders building in regulated, research-intense segments like diagnostics and therapeutics. [Source]: Tech.eu — https://tech.eu/2025/10/29/earlybird-health-promotes-dr-rabab-nasrallah-and-dr-christoph-massner-to-partner-roles-as-firm-deepens-focus-on-biotech-and-data-driven-health/


Sequoia has launched two new early-stage funds for Europe and described the European founder pool as “stronger than ever”, signalling that the firm sees structural depth in seed and Series A dealflow across the continent. For DACH founders, Sequoia’s renewed commitment reinforces Europe’s move from “emerging” to “core” in global venture allocation and increases the odds of US-tier capital showing up early in local rounds. [Source]: Tech.eu — https://tech.eu/2025/10/27/sequoia-launches-two-early-stage-funds-says-european-founder-pool-never-been-stronger/


VC Magazin reports that Alex von Frankenberg, long-time Managing Director of High-Tech Gründerfonds (HTGF), will become a Venture Partner at MAY Ventures. His move brings one of Germany’s most influential early-stage investors—responsible for backing hundreds of deep-tech, SaaS, and industrial-tech startups—into a new strategic role within Europe’s venture landscape. For founders across the DACH region, this signals continued cross-pollination between established seed funds and emerging multi-stage investors, strengthening the overall capital stack for deep-tech and B2B innovation.

Note: We will also have an upcoming interview with him from Startupland on his new book.


Munich Re shuts down venture arm as part of innovation pivot (Tech Funding News)

Munich Re is shutting down its corporate venture capital arm, suspending new investments and shifting innovation efforts toward internal product development and strategic partnerships. The insurer cited the need for tighter alignment with core business priorities amid a more disciplined market environment. For DACH insurtech founders, the move reduces a prominent source of corporate capital and signals that large incumbents may pursue innovation through direct business units rather than standalone venture arms. [Source]: Tech Funding News — https://techfundingnews.com/munich-re-shuts-down-venture-arm-innovation-pivot/



Deep Tech News


Manager Magazin reports that Celonis is fighting to regain momentum after tensions with SAP over product overlap and market positioning, with the Munich unicorn doubling down on its AI-driven execution platform. Despite the dispute, Celonis is leaning into enterprise expansions, sharpening its product roadmap, and courting global customers to reaffirm its category leadership. For the DACH tech ecosystem, this highlights how even top-tier SaaS scale-ups must navigate competitive pressure from incumbents while maintaining innovation velocity. [Source]: Manager Magazin — https://www.manager-magazin.de/unternehmen/tech/celonis-wie-sich-das-unicorn-trotz-sap-streits-zurueckkaempfen-will-a-292287c2-8627-4142-847a-fc7046e63ffc


Handelsblatt interviews the CEO of robotics giant KUKA, who argues that the company “should actually be particularly strong in the DACH region” and reflects on competitive pressures, reshoring and the need for more automation. For robotics and industrial automation startups in Germany, Austria and Switzerland, this is a signal that even incumbents see room – and necessity – for more innovation in their home markets. [Source]: Handelsblatt — https://www.handelsblatt.com/unternehmen/industrie/kuka-chef-eigentlich-muessten-wir-in-der-dach-region-besonders-stark-sein/100172627.html


Stern reports that Munich-based Agile Robots will begin serial production of its humanoid robot “Agile One” from early 2026 in Fürstenfeldbruck. The robot, designed with arms, legs and a head, will work alongside humans and other machines in industrial environments, powered by an AI model trained on industrial data and a highly precise robotic hand. For the DACH robotics scene, this marks a major step toward “physical AI” at scale, moving humanoid robots from concept videos into German factory floors.


Business Insider / Gründerszene covers Peec AI, which has closed its third multi-million euro round within just one year, detailing both the funding and the founders’ unusually high salaries. This illustrates both the continued appetite for AI-native startups in the German market and the emerging debate around compensation expectations in still-early companies. [Source]: Business Insider — https://www.businessinsider.de/gruenderszene/business/peec-ai-schliesst-dritte-millionenrunde-in-nur-einem-jahr-gehalt-der-gruender/


The Oberlandesgericht Düsseldorf has ruled that Amazon’s 2022 price hike for Prime memberships in Germany was unlawful, finding the price-adjustment clause in the contract invalid because Amazon could not unilaterally change fees without clear criteria or explicit customer consent. Millions of German Prime users may now be entitled to significant refunds, and the Verbraucherzentrale NRW is preparing a collective action, sending a strong signal to all subscription-based platforms about transparent pricing and contract design. For DACH subscription startups, this underlines the legal and reputational risk of vague price clauses in long-running contracts. [Source]: Computerbild — https://www.computerbild.de/artikel/News-Internet-Gericht-entscheidet-Amazon-Prime-Preiserhoehung-unzulaessig-Tbk-40472805.html 


Anthropic is expanding its global footprint with new hubs in Paris and Munich, aiming to serve fast-growing European enterprise demand for Claude-powered AI systems. The company plans to hire engineers, policy specialists, and go-to-market teams across the region, signalling a long-term commitment to operating inside EU regulatory frameworks while competing for top AI talent. Munich’s selection underscores Germany’s rise as a strategic AI market, giving DACH corporates and startups closer access to frontier-model capabilities. [Source]: EU-Startups — https://www.eu-startups.com/2025/11/anthropic-expands-from-us-with-paris-and-munich-hubs-amid-booming-european-growth/



Defense Tech News 


Handelsblatt published a Europe-wide map of leading defence startups, spotlighting venture-backed companies in areas such as drones, space, cybersecurity and AI across the continent, including several from Germany, Austria and Switzerland. The piece underscores how defence tech has moved into the mainstream VC conversation just as DACH investors warm up to security and dual-use models, a theme you also explore in Defense Tech Germany: 30% of VCs Already Invest, 45% Plan More — https://www.startuprad.io/post/kfw-research-defense-tech-germany-octber-2025. [Source]: Handelsblatt — https://www.handelsblatt.com/technik/forschung-innovation/verteidigung-diese-karte-zeigt-europas-bedeutendste-ruestungs-start-ups/100164941.html


Fintech News


FAZ looks at how Berlin wants to become Europe’s fintech capital, focusing on the city’s dense cluster of neobanks, infrastructure startups and crypto players, plus support from local politics and regulators. This ambition builds on the narrative of Berlin as Germany’s startup powerhouse that you cover in The Rise of Berlin Startups: Germany’s Startup Powerhouse — https://www.startuprad.io/post/the-rise-of-berlin-startups-germany-s-startup-powerhouse. [Source]: FAZ — https://www.faz.net/aktuell/finanzen/wie-berlin-die-fintech-hauptstadt-europas-werden-moechte-110770469.html


Complaints against Trade Republic surge 133% (Business Insider)

Business Insider reports that customer complaints about Trade Republic have risen by 133%, driven by issues around app stability, order execution, and customer support response times. Germany’s largest neobroker attributes part of the spike to rapid user growth and the complexity of servicing high-volume retail trading. For DACH fintechs, this underscores how operational reliability and customer communication become existential once platforms reach mass-market scale.[Source]: Business Insider — https://www.businessinsider.de/gruenderszene/trade-republic-beschwerden-um-133-prozent-gestiegen/


Bitpanda co-founder Eric Demuth becomes Executive Chairman (Silicon Canals)

Bitpanda co-founder Eric Demuth has stepped into the new role of Executive Chairman, shifting from operational leadership to a more strategic oversight position as the company continues scaling its digital-asset investment platform across Europe. The move formalizes Bitpanda’s leadership structure during a phase of growing institutional demand and heightened regulatory scrutiny. For DACH fintech founders, this highlights how Europe’s major crypto players are maturing into multi-layer governance models similar to traditional financial institutions. [Source]: Silicon Canals — https://siliconcanals.com/bitpanda-co-founder-eric-demuth-executive-chairman/


McMakler appoints Steve Simmons as new CEO (Manager Magazin)

Manager Magazin reports that real-estate platform McMakler has appointed Steve Simmons as its new CEO, bringing in experienced leadership as the company navigates a sluggish property market and rising pressure on brokerage margins. Simmons’ mandate includes sharpening operational efficiency and repositioning the hybrid brokerage model after years of uneven growth and restructuring. The move reflects broader consolidation trends in the DACH proptech sector, where strong governance and disciplined scaling are becoming decisive. [Source]: Manager Magazin — https://www.manager-magazin.de/unternehmen/mcmakler-steve-simmons-wird-neuer-chef-des-immobilien-start-ups-a-5dc9ef6c-bc9b-4c4b-a91c-d63d090ed068


Baobab Insurance is expanding its operations and has appointed Tim van Lier to strengthen its leadership team as the company accelerates its digital insurance strategy. The move supports Baobab’s push into scalable, technology-driven underwriting and customer service models. For the DACH insurtech ecosystem, this reflects continued demand for digital-first insurance solutions, particularly in niche and emerging policy categories.


General News


T-Online notes that German retail association HDE expects Black Friday sales to decline for the first time, as inflation and consumer caution dampen spending. For e-commerce and fintech startups in DACH, a weaker peak-season environment reinforces the need for smarter customer acquisition, financing offers and loyalty mechanics rather than assuming endless consumption growth. [Source]: t-online — https://www.t-online.de/finanzen/aktuelles/wirtschaft/id_101003276/black-friday-hde-rechnet-erstmals-mit-umsatzrueckgang.html

Note: We will likely have data on this next year. 


Handelsblatt profiles Celonis as it pivots from pure process mining into a broader, AI-driven execution platform that increasingly competes with SAP by offering a central cockpit for enterprise processes. The story reinforces Celonis’ status as one of Germany’s most valuable startups and ties into your coverage in Top European Tech Startups to Watch in 2024 — https://www.startuprad.io/post/top-european-tech-startups-to-watch-in-2024. [Source]: Handelsblatt — https://www.handelsblatt.com/technik/it-internet/celonis-softwareunternehmen-wird-zum-ki-getriebenen-sap-konkurrenten/100173224.html


BR reports that Bavaria is betting heavily on AI data centres, debating whether a “gigafactory”-scale campus could emerge as a regional anchor for compute and cloud infrastructure. This has major implications for Munich and Nuremberg-area startups in AI and high-performance computing, potentially lowering infrastructure barriers while also raising questions about energy, regulation and local acceptance. [Source]: BR — https://www.br.de/nachrichten/wirtschaft/bayern-setzt-auf-ki-rechenzentren-kommt-die-gigafactory,V2oh9c9


Anthropic is expanding its global footprint with new hubs in Paris and Munich, aiming to serve fast-growing European enterprise demand for Claude-powered AI systems. The company plans to hire engineers, policy specialists, and go-to-market teams across the region, signalling a long-term commitment to operating inside EU regulatory frameworks while competing for top AI talent. Munich’s selection underscores Germany’s rise as a strategic AI market, giving DACH corporates and startups closer access to frontier-model capabilities. [Source]: EU-Startups — https://www.eu-startups.com/2025/11/anthropic-expands-from-us-with-paris-and-munich-hubs-amid-booming-european-growth/



Schumpeters Schöpferische Zerstörung ⇒ Creative Destruction (Layoffs insolvencies, layoffs and other bad news):


Very sad news for our former guest Monkee: Trending Topics reports that Austrian savings-app startup Monkee has filed for insolvency after failing to secure new financing, ending a multi-year push to help consumers build automated savings habits and healthier financial behaviour. Despite strong early traction, the company struggled to convert engagement into sustainable revenue and was hit hard by investor caution across consumer fintech. For the DACH fintech ecosystem, Monkee’s collapse underscores how B2C financial apps face brutal retention economics and rising capital discipline. [Source]: Trending Topics — https://www.trendingtopics.eu/monkee-pleite/ ⇒ This is actually quite uncommon here at Startuprad.io we have (according to Podchaser) 724 episodes live (excluding founders vault) and we are aware of only a dozen or so startups that have been our guest filing for insolvency.



Sächsische.de profiles biotech founder Nadine Schmieder-Galfe, once celebrated as “Saxony’s best female founder”, who is now taking her high-tech startup through insolvency and openly framing the process as part of entrepreneurial reality. For the eastern German startup scene, her story is a high-visibility case study in how to handle failure, communicate with stakeholders, and prepare for a second act rather than leaving the ecosystem. [Source]: Sächsische Zeitung — https://www.saechsische.de/wirtschaft/regional/sachsens-beste-gruenderin-spricht-ueber-insolvenz-und-scheitern-5U7T2ZCVHFAXNJS7JWT2AN224Y.html 


VC Magazin reports that German Bionic, the Augsburg-based robotics scale-up known for its smart exoskeletons, has filed for insolvency after a major financing round collapsed. Despite strong global visibility and notable enterprise customers, the company struggled to secure enough capital to support hardware production and scaling. For the DACH robotics ecosystem, this serves as a reminder that deep-tech hardware models face intense capital demands and supply-chain risks—even when the underlying technology is world-class.


Business Insider reports that HR unicorn Personio is cutting staff, with the piece focusing on what affected employees can do now in terms of legal rights, severance and next steps in job search. For the DACH ecosystem, layoffs at a flagship Munich SaaS player show that even top-tier scaleups are tightening belts as the funding environment normalises, despite Personio still being profiled as a national champion in pieces like German Startups: The Backbone of Innovation in Europe — https://www.startuprad.io/post/german-startups-the-backbone-of-innovation-in-europe. [Source]: Business Insider — https://www.businessinsider.de/wirtschaft/personio-entlaesst-mitarbeiter-was-betroffene-jetzt-tun-koennen/


Handelsblatt reports that Freiburg-based JobRad, Germany’s leading bicycle-leasing platform, is cutting around 20% of its workforce as demand normalizes after pandemic-era highs. Rising costs and slower growth in corporate mobility programmes are pushing the company toward tighter operational efficiency. For DACH mobility and leasing startups, JobRad’s retrenchment signals a broader market correction where strong brands can still win—but only with leaner cost structures and diversified service offerings.



End on a High Note: Successful Fundraisings and Exits:


Note: To keep this section manageable we had to cut the threshold to 20 mn USD/EUR/CHF


FMC has raised €100 million to expand its advanced fiber-manufacturing technology, which targets high-performance applications across automotive, industrial, and sustainability-driven sectors. The company aims to build capacity for European supply chains seeking lightweight, durable, and lower-emission materials. For DACH industrial-tech founders, this funding round underscores investor appetite for materials innovation with direct ties to manufacturing, mobility, and climate solutions.


Berlin-based biopharma company 4TEEN4 has extended its Series C round to €55 million to advance development of Procizumab, its antibody therapy for preventing organ failure in acute and critical-care settings. The capital will support late-stage clinical work and preparations for regulatory approval. For the DACH biotech landscape, this marks one of Germany’s standout clinical-stage financings, reinforcing the region’s growing strength in immunology and critical-care therapeutics.


Tagesspiegel reports that Berlin software and care startup voize has raised €50 million, scaling its voice documentation tools that help nurses and carers record information more efficiently. This is a major healthtech and SaaS growth story for the capital, complementary to AI-driven clinical tools like those featured in AI for Emergency Rooms: How Dianovi is Revolutionizing Emergency Medicine — https://www.startuprad.io/post/ai-for-emergency-rooms-how-dinovi-is-revolutionizing-emergency-medicine. [Source]: Tagesspiegel — https://www.tagesspiegel.de/berlin/berliner-wirtschaft/berliner-softwareunternehmen-pflege-start-up-voize-erhalt-50-millionen-euro-kapital-14828621.html


Vienna-based recommerce marketplace refurbed closed a €50 million round to accelerate European expansion, with a particular push into the UK, strengthening its AI-driven platform for refurbished electronics and other goods. The deal underlines how circular-economy scaleups from the DACH-adjacent region are turning sustainability into a mainstream e-commerce play, also relevant for German and Swiss investors tracking recommerce. [Source]: EU-Startups — https://www.eu-startups.com/2025/10/with-the-uk-in-its-sights-austrian-recommerce-marketplace-refurbed-raises-e50-million/


Reflex Aerospace raised a record €50 million as policymakers increasingly view satellites as Europe’s “Achilles heel”, with the Berlin-based startup aiming to deliver more agile, responsive spacecraft for defence and secure communications. This is a flagship deeptech and defence deal for Germany, fitting squarely into the trends you analyse in DACH Startup Funding 2025: Deep Tech, Defense, and Decacorns — https://www.startuprad.io/post/dach-startup-funding-2025-deep-tech-defense-and-decacorns. [Source]: EU-Startups — https://www.eu-startups.com/2025/11/reflex-aerospace-secures-record-e50-million-as-satellites-deemed-europes-achilles-heel/


Delvitech, based in Switzerland, has raised $40 million to scale its AI-powered optical inspection platform for the electronics manufacturing industry. The company uses computer vision and machine learning to detect defects in highly complex boards, providing faster and more accurate quality control than traditional systems. For the DACH deep-tech landscape, this reflects strong investor confidence in advanced manufacturing automation as European electronics producers push for higher yields and regionalized supply chains.


Swiss fintech Future secured CHF 28 million to build a Bitcoin treasury platform that combines multisig custody, treasury tooling and advisory services for institutional clients. The round reinforces Switzerland’s positioning as a crypto finance hub and is strategically important for DACH financial institutions exploring Bitcoin balance-sheet exposure and treasury services. [Source]: Finsmes — https://www.finsmes.com/2025/11/future-raises-chf-28m-in-funding.html


Cologne-based octonomy has raised a $20 million Seed round to build AI “digital workforces” that automate complex enterprise support and service workflows, with Macquarie Capital Venture Capital leading the round alongside Capnamic, NRW.Bank and TechVision Fund. The startup’s agentic AI platform is designed to process dense technical documentation, SOPs and maintenance logs with claimed 95% answer accuracy, targeting heavy-equipment industries and high-stakes support environments while remaining GDPR and EU-AI-Act compliant. As one of the largest German seed rounds in the past two years, this deal signals investor appetite for mission-critical, industrial-grade AI in the DACH region rather than just generic chatbots. [Source]: FinSMEs — https://www.finsmes.com/2025/11/octonomy-raises-20m-in-seed-funding.html; MAJUNKE.com — https://majunke.com/octonomy-ai-aus-koeln-sichert-sich-20-millionen-us-dollar-in-seed-runde-zur-automatisierung-komplexer-support-services


transkript reports that Berlin-based Captain T Cell, a Max-Delbrück Center spin-out developing next-generation TCR-T cell therapies for solid tumours, has secured a €20 million financing round. The capital will push its pipeline toward clinical development in a segment considered particularly challenging even within cell therapy. For the DACH biotech ecosystem, this is another signal that highly specialised oncology platforms from Berlin’s research base can still attract substantial funding despite a tougher market.



M&A News

Northern Data acquires German cloud firm amid political scrutiny (Manager Magazin)


Manager Magazin reports that Northern Data—already under public attention due to leadership ties to individuals close to Donald Trump—has acquired a German cloud company as part of its infrastructure expansion. The acquisition intensifies debate around governance, transparency, and geopolitical influence in Europe’s high-performance computing landscape, especially given Northern Data’s growing role in AI and crypto infrastructure. For DACH regulators and startups, the case is a reminder that cloud and compute providers are increasingly evaluated not only on technology but also on ownership structures and political proximity. [Source]: Manager Magazin — https://www.manager-magazin.de/unternehmen/tech/northern-data-rumble-uebernimmt-deutsche-cloudfirma-naehe-zu-trump-a-c92014f7-0360-4135-a59f-ca8ce84aa070


AstraZeneca has acquired Swiss biotech startup SixPeaks in a deal worth up to $300 million, adding the company’s precision-medicine and immunology technology to its global pipeline. The acquisition validates Switzerland’s strong position in translational biotech and highlights how high-quality European science continues to attract top-tier pharmaceutical buyers. For the DACH biotech ecosystem, this is another major exit demonstrating that platform-driven therapeutics can scale from research institutes to global pharma integration.


FAZ reports that Wolters Kluwer has acquired Berlin-based legal-AI startup Libra, strengthening the Dutch information giant’s product suite for automated legal research and document analysis. The deal underscores rapid consolidation in legal tech as incumbents integrate AI-native tools rather than building them from scratch. For the DACH ecosystem, Libra’s exit highlights Berlin’s emergence as a strong hub for applied AI in regulated industries.



Stay ahead of the curve


A Handelsblatt profile shows how a member of the Goldbeck family is steering the construction dynasty’s wealth into sustainable projects, backing green startups and impact funds while trying to persuade other wealthy families to follow.Handelsblatt This kind of “family office as climate LP” trend is increasingly relevant for DACH founders in climate, constructiontech and sustainable infrastructure who are looking beyond classical VC for aligned capital. [Source]: Handelsblatt — https://www.handelsblatt.com/unternehmen/mittelstand/investorin-diese-frau-lenkt-goldbeck-vermoegen-in-nachhaltige-projekte/100161061.html


Handelsblatt’s piece on New Soul portrays a startup building modern massage studios in Germany with a subscription model and already ten locations, with the founders seeing potential for up to 1,000 studios across Europe.dein-patent-shop.com+1 The story highlights how wellness and services are being productised into scalable, tech-assisted chains, offering a blueprint for other consumer-service startups in the DACH region. [Source]: Handelsblatt — https://www.handelsblatt.com/technik/it-internet/new-soul-dieses-start-up-plant-moderne-massagestudios-in-deutschland/100172094.html



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