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This Month in DACH Startups - November 2025 | Deep Dive

Updated: Apr 8

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

What Is This About?

The November 2025 deep dive examines mid-quarter ecosystem trends across the DACH startup landscape — covering AI infrastructure developments, DeepTech momentum, DefenseTech funding, and the fintech shifts defining the region's innovation trajectory heading into year-end.

Introduction

The November 2025 DACH startup deep dive covers the major ecosystem developments including surging AI infrastructure investment, growing DeepTech and DefenseTech activity, evolving fintech trends, and notable layoff signals. This comprehensive analysis goes beyond headline funding numbers to examine the structural forces shaping startup formation, scaling, and exit dynamics across Germany, Austria, and Switzerland.

Executive Summary

The November 2025 DACH startup deep dive reveals continued momentum in AI infrastructure investment alongside growing activity in DeepTech and DefenseTech. Fintech trends show consolidation as the sector matures, while notable layoff signals in some subsectors suggest correction. The analysis goes beyond headline numbers to examine the structural forces driving capital allocation and the leading indicators that predict sector performance in the coming quarters.

Inside the 2025 DACH startup deep dive: AI infrastructure, DeepTech, DefenseTech, fintech trends, layoffs, funding & the €1.8B VC surge.



Inside the 2025 DACH startup deep dive: AI infrastructure, DeepTech, DefenseTech, fintech trends, layoffs, funding & the €1.8B VC surge. Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across 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. 


This news roundup is part of our ongoing coverage of DACH Startup Ecosystem 2025: The Ultimate News Hub.

Key Takeaways

Atomic Answer

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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The video is available up to 24 hours before to our channel members in what we call the Entrepreneur’s Vault.


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



The Hosts

The news are co-hosted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. And Christian “Chris' ' Fahrenbach, co-founder Startuprad.io, freelance reporter, lecturer, author and blogger . Reach out to them:


Quote Highlights

  • November 2025 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 deep dive reveals continued momentum in AI infrastructure investment alongside growing activity in DeepTech and DefenseTech.

  • The €1.8 billion VC surge signals that investors are doubling down on infrastructure and hard tech rather than consumer-facing startups.

  • From layoffs to funding rounds, the November ecosystem snapshot shows a market maturing beyond hype into structural transformation.

Related Episodes

Relationship Map

  • Delvitech → based in → Switzerland

Automated Transcript

1 Foreign. 2 Your podcast and YouTube blog covering the German 3 startup scene with news interviews and 4 live events. Hello 5 and welcome everybody to our regular startup news. From the 6 startup and tech entrepreneurship scenes in Germany, Austria and Switzerland, 7 you have tuned in to the deep deep dive of our 8 startup news, the second part of our monthly news coverage 9 here at Startup Rate IO. You have listened 10 in the first part we were talking about the 11 general top news of this month and now we will 12 have take a closer look at some of the most interesting companies here. 13 First of all though, we 14 have a little look at the mood of the market, which we always do. 15 November felt like a bit like a market switching from sugar highest to 16 protein, we could say so a bit like fewer

17 flashy apps, more industrial AI, robotics, defense 18 systems, sovereign cloud capacity. It all 19 felt felt a bit more substantiated than we were probably used to. 20 And we see that across the D region, Deutschland, 21 Schweitz, Austria and Switzerland and Europe, 22 the story wasn't growth at any cost, but building 23 infrastructure that to make the next decade possible. 24 We see that AI is shifting and more from being a marketing 25 gimmick to a bit of an industrial backbone, capital flowing 26 accordingly accordingly. Even though word of caution obviously there's still 27 a lot of hopes in the market, I guess. And 28 we see that despite tighter conditions, the region is delivering 29 a surprising might with 1.8 billion 30 euros in fresh VC funds and more than 400 31 million euros in startup raises even after we cut everything 32 below 2020 million euros. So there's a whole

33 additional layer to this that we're not even counting. 34 Theme 1 AI becomes industrial infrastructure I already said 35 it. AI trans AI's transformation from a hype to a 36 hardware level infrastructure is accelerating. This month we are seeing that 37 Entropic is opening hubs in Munich and Paris. 38 Flexion raised big to power Humanoid 39 Autonomy and enterprises rushed for vertical AI 40 stacks in healthcare, robotics, logistics and fraud 41 prevention. Schwarz's group 11 billion euro 42 sovereign compute blitz that we talked about 43 in our first in the 44 first part of this overview. And 45 yeah, then we see that the message becomes clear. Compute 46 scarcity is now a strategic market. Not anymore a 47 technolog technical inconvenience. 48 Theme number two Deep tech and defense are 49 going mainstream. Europe is leaning 50 hard into 70 tech this month and the funding

51 flows are becoming more and more geopolitical. 52 We are seeing that Quantum Systems is marching toward a 3 billion 53 euro valuation. We already talked about this in the first part of this. 54 Reflex Aerospace is scoring a record 55 raise and Vienna is positioning itself more and more as a crypto 70 56 hub Multiple defense tech funds are launched 57 to fill the continent's strategic gap. 58 So yeah, this is just as a little 59 wrap up roundup in the beginning, but 60 you got two more themes right now that we are witnessing and 61 seeing right now for us too. Yes. 62 Fintech, Climate Tech and Industrial Tech tighten up. 63 Fintech continued its great normalization 64 arc. Berlin pushed for European leadership. Complaints 65 at trade Republica spiking at 133%. 66 Crypto platforms maturing into compliance first machines 67 and Swiss players raising institutional great treasury

68 rounds. Climate and industrial tech meanwhile delivers 69 some of the month strongest momentum. Ecommerce, energy 70 optimization, industrial inspection and manufacturing 71 automation all pulled in capital that once flowed into 72 consumer apps. Across our deep dive we track 73 400 plus million euros in fundraising even 74 with a hard cutoff. We did this the first time for this news 75 at 20 million. Otherwise we could talk for 76 hours. A polite way of saying the pipeline was 77 overflowing. For why the funding backdrop? Revisit our 78 regional breakdown Corrections, 79 layoffs and record founder wave. 80 Not every storyline was upbeat. Unfortunately 81 Insolvency hit, insolvencies hit Robotics, 82 Fintech and biotech, Personio and Job Rat 83 announced layoffs and regulatory pressure kept 84 rising across subscription models, mobility, 85 health, tech and financial services. But in true European 86 fashion, destruction came bundled with creation.

87 Entrepreneurship hit a multi decade high with 88 27000 plus new founders entering the 89 arena. The ecosystem is tightening, but it's also 90 maturing deeper, faster, more industrial. 91 Now buckle up. Our top stories ahead Got straight into 92 AI, Defense tech, Fintech Robotics and 93 sovereign clout Biotech. And a 94 surprisingly bullish capital cycle. Our sponsor A 95 quick break for something every founder should hear. One leak on the 96 dark web can mean account takeovers, impersonalization 97 or board level crisis. That's why we partnered 98 with Nordstella, a business grade threat exposure platform 99 from the team behind NordVPN. It gives you early 100 signals before attackers escalate with data breach 101 and dark web monitoring, attack surface 102 discovery and cyber squatting detection. You'll spot 103 exposed credentials, shadow it and fake domains 104 fast. Startup radio listeners get a 20% 105

Black Friday discount. Go to northsteller.com 106 startupradio and when talking with sales use 107 the code PLEGFRIDAY20good until December 108 10, 2025. Two good news about 109 two of our former guests. Scavenger AI, a former guest has 110 secured 2.5 million in seed funding to bring AI 111 power business intelligence to Europe's mid market. 112 And our former guest Munich based Edu 113 Rino has won the finale Da Huam at Seven 114 Ventures Pitch Day 2025. Also we are now 115 officially scoring at number 78 in F6? S top 116 100 startups. This is amazing. Thank you for everybody who's taking the journey 117 with Keep in mind that there are millions of startups out there 118 and now let's go a little bit into the ad break and then Chris takes 119 over with the ecosystem. 120 Welcome back from the ads. And now let's have a look at

121 the ecosystem of the startup 122 scene influencing the startup scene worldwide in Europe and in the 123 Dach region. First off the worldwide news 124 we are seeing that authorities are have dismantled a major 125 international cybercrime network involved in large scale 126 Internet fraud and credit card theft. Suspects were arrested 127 across multiple European countries as well. The group is accused of running 128 sophisticated phishing malware payment card schemes 129 causing extensive financial damage to consumer and 130 businesses. We have a bit more about that in 131 Manager magazine. In Europe we see that 132 Politico is reporting that the European Commission is courting 133 top investors for a multi billion euro scale up 134 fund designed to bridge the growth stage financing gap and keep 135 more European tech champions at home instead of losing them to the 136 United States or to Asian buyers. This is something

137 that's a bit more crucial for later stage founders in Germany and 138 Austria and Switzerland. So we're because it's a region where Series 139 C + capital is often a bottleneck between 140 strong product market fit and global leadership. 141 This is something you can also explore in Venture capital Germany a global and 142 regional comparison in 2024 which is a post 143 on our website. EU startups is reporting 144 that European startups are rapidly building anti deepfake and 145 fraud detection solutions since we are seeing that AI 146 enabled fraud losses are surpassing 1.3 billion 147 euros with new companies are now 148 focusing on voice, video, ID verification and transaction 149 monitoring. This is especially important for the Dark 150 fintech and rectech founders since regulators are now 151 tightening their expectations and banks are looking for more 152 robust AI native fraud stacks

153 trending Topics highlights a powerful new founder wave across 154 Europe with almost 60% more people starting companies in 2025 155 than in 2023. 97,000 founders 156 launching ventures and that is all an all time high. 157 Reasons for that are lower entry barriers, from no code tools 158 to stronger founder networks and yeah 159 generally in all enabling entrepreneurship across age groups and 160 regions. More about that can also be found not only on trending 161 topics but also on our website. VC 162 Magazine analyzes how medtech startups in Europe are being 163 stress tested by tighter funding conditions and evolving regulation, 164 but they are also noting that resilient companies are still raising and bringing 165 products to the market. I found this approach 166 actually Pretty funny because they are stress tested by 167 tight funding conditions. You don't say tighter funding condition, you say the good

168 ones get stress tested. I like that approach. Yeah, I'm also being 169 stress tested constantly in this show. So the EU has 170 abandoned plans for blanket suspicionless 171 scanning of private messenger traffic 172 for child abuse material, dropping one of the most controversial 173 chat control proposals in the ongoing legislative package. So 174 yeah, to, to take a step back here. The discussion is always 175 okay, how much is how much can the 176 European Union can countries in the European Union and the authorities 177 scan without having a specific 178 suspicion against someone or and so yeah, we 179 are seeing now that there's a political discussion about this. 180 In an interview with Antifa German news channel we 181 heard that the automotive expert 182 Ferdinand Dudenhofer, having a reputation for decades 183 now as being one of the most knowledgeable experts of the

184 automotive industry in Germany, calls the dispute around 185 Dutch control chip maker Nix Peria, a conflict provoked by 186 the US linking export controls and ownership battles to 187 broader geopolitical power plays in semiconductors 188 disorient Important because we see here the vulnerability of a German 189 industry to foreign policy decisions in Washington and 190 Beijing and we are seeing that this is kind of the 191 backdrop for the Dach regions chip and hardware 192 startups trying to position themselves 193 as important players in de risked 194 supply chains. Moving on 195 from the European perspectives to specific perspectives 196 in Germany, Handel's Blood has an analysis 197 warning that the ongoing chip crisis could push Germany into a third 198 consecutive year of recession because we are 199 seeing supply bottlenecks and geopolitical frictions around players like Nick's 200 Peria and dark startups, especially in

201 mobility, robotics and industrial Internet of things 202 are now suffering from this macro pressure because it's 203 hurting customers but it also accelerates demand for efficiency 204 and reshoring. And as always a 205 brief look at the IFO Business Climate Index, the 206 Gescher Klima Index, Germany's premier business sentiment 207 barometer dipping to 88.1 points 208 in November from 88.4 points in October 209 and missing analyst expectations, all of it 210 confirming that German companies are losing optimism about 211 near term recovery. I'm not losing that optimism 212 because I will recover by handing it over to you. 213 I really, really had to laugh when you when you talked 214 about that. You were stress tested here in the Program 215 Manager magazine profiles Austrian pet 216 tech startup Tractive which now exceeds 217 1 billion euro valuation with its GPS 218 enabled smart colors that let owners track pets in

219 real time and monitor their activity. A 220 new analyzers reported by the broadcast and finds that European 221 deep tech startups could create up to 1 million 222 new jobs and add around 1 trillion in value to 223 the EU economy by 2030 if 224 funding volumes roughly tripled to 28 billion 225 annually. Tech funding News reports that 226 Vienna is emerging as a contender for Europe's next major 227 crypto hub, driven by regulatory 228 clarity, strong academic talent and a growing 229 concentration of blockchain startups. 230 Switzerland Startup Ticker reports that 231 172 million Swiss francs in fresh capital 232 has been deployed into swift growth stage startups across 233 multiple sectors including of course biotech, fintech 234 and industrial deep tech. The funding wave reflects sustained 235 investor confidence in Switzerland's ability to 236 translate strong research foundations into scale ready 237 companies. The General News

238 Tech News and Company News we are talking a little bit 239 about VC news and new funds. I'll just hit the highlights 240 here. As we said, more than 1.6 241 billion in new funding raised. Asperity 242 Partners has closed its debut debut 243 875 million euro fund 244 targeting Europe's next B2B tech 245 championship. Figun Ventures 246 has launched a US$250 million 247 fund dedicated to quantum technologies with backing from 248 Quarta Investment Authority. Start 249 Base reports that X Ange 250 X A N G E has reached a 200 251 million euros first close for its new new early 252 stage fund X Ange 5 focused on deep 253 tech, climate, fintech and software across Europe. 254 Also Start Base reports that Keen Venture Partners 255 has launched a 150 million euro fund 256 dedicated to European defense tech targeting startups 257 across the Buswell dual use, AI

258 drones, cyber and secure communications. 259 Armilla Fund 4 has reached its its first 260 close at 120 million euros to back early 261 stage tech companies across Iberia and Europe with focus on 262 deep tech, software and digital information. Oyster Bay 263 raises 100 million US dollar food fund 264 reported by Tech Funding News early 265 backer of Oatly they have closed a 100 266 million US dollar fund dedicated to sustainable food tech and 267 next generation Consum and 268 Rubio Impact ventures has raised 70 269 million euros towards a third fund targeting European 270 early stage startups in climate circularity and social impact 271 tech. EU also reports a new 1 million 272 euros ticket fund created by a coalition of European 273 founders to back early stage startups and more symbolically to work 274 towards Europe's first trillion dollar tech 275 company. A hundred spot feature of

276 former Formula one driver Nico Rosberg Stock fund 277 so umbrella font shows how the Formula one champion 278 is evolving from direct angel bets into startups 279 like Stark and N8N into fund of funds and co 280 investment strategies backing top tier VC firms. 281 Early Bird Health has promoted Dr. Rabab 282 Nasala and Dr. Christopher Masna to partners 283 deepening its specialty bench in biotech and data driven 284 health as it doubles down on scientific evidence. 285 Heavy thesis. Sequoia has launched 286 two new early stage funds for Europe and described the European 287 founders pool as stronger than ever. That's actually a good sign. 288 They're signaling that the firm sees structural depth in 289 seed and series 8D flow across the continent 290 VC markets in reports that Alex von Frankenberg, longtime 291 managing director of high tech Kronafor, also somebody that I

292 interviewed in Germany before in English a few years ago and 293 just recently on Startup Land where he actually talked about his new 294 book I have it here, Das Eligelt Bitcoin and 295 he has even signed it for me. That's awesome, isn't it? 296 He will become a venture partner at May Ventures. His move 297 brings one of Germany's most influential early stage investor, 298 responsible for backing hundreds of deep tech SaaS and industrial tech 299 startups in a new strategic role within Europe's 300 landscape. And unfortunately a little bit sad news. 301 Munich Re is shutting down its corporate venture capital arm, suspending new 302 investments and shifting innovation efforts towards internal 303 product development and strategic partnerships. And I hand over to 304 Chris with the deep tech news. He wrote a whole book into 305 into the book. So much nice.

306 Yeah. Looking at Deep Tech News Manager 307 magazine reports that Celonis is fighting to 308 regain momentum after tensions with SAP over product overlap and 309 market positioning with the unicorn Salonis 310 doubling down on its AI driven execution platform. Despite that 311 little in fighting, Celonis is now leaning into enterprise 312 expansions, sharpening its product roadmap and courting global customers 313 to reaffirm the category leadership. So we see here 314 that in the dark tech ecosystem, even top 315 tier software as a service scale ups must navigate competitive pressure 316 now. Handel's Blood interviews the CEO of 317 robotics giant Kuka who's arguing that 318 the company should actually be particularly strong in the 319 dark region and who is reflecting on competitive 320 pressures, reshoring and the need for more automation. 321 Stern German Weekly magazine is reporting that Munich 322 based Agile Robots will begin serial production of humanoid robots

323 called AG1 from early 2026 in 324 first and Feldbrook. The robot is designed with arms, 325 legs and a head and supposed to work alongside humans and other machines in 326 industrial environments and powered of course by 327 AI model trained on industrial data and a highly 328 precise robotic hands hand. 329 Business Insider and Grunda Sine covers peak AI 330 PE AI which has closed its third 331 multi million euro round within just a year, detailing both the funding and 332 the founders unusual high salaries 333 and the report also is illustrating both the continued appetite for AI 334 native startups in the German market and the emerging debate around 335 compensation expectations in companies that are still 336 very early on in their history. 337 Oberlanders so the like 338 Superior Court in the city of Dusseldorf has ruled that Amazon's 339 2022 price hike for prime memberships in

340 Germany was unlawful, finding that the price 341 adjustment clause in the contract was invalid because 342 Amazon could not unilaterally change fees without clear criteria 343 or explicit customer consent. So right now it look 344 as if millions of German prime users may be entitled to 345 refunds and Centrale nrw, which is kind of 346 the customer protection office of the state 347 government in North R Westphalia, is preparing a collective 348 action lawsuit, sending a signal to subscription based 349 platforms about being having to be more transparent about 350 pricing and their contracts. Antopic is 351 expanding its global footprint with new hubs in Paris and Munich. We 352 already hinted at this a bit. Aiming to serve fast growing 353 European enterprise demand for cloud powered 354 AI systems, the company is now planning to hire engineers, policy 355 specialists and go to market teams across the region.

356 Also here putting an emphasis on Europe, signaling that Europe is an 357 important additional market to the US and 358 maybe Asia. Moving on from deep Tech 359 to Defense Tech Handel's Blood published a Europe wide 360 map of leading defense startups spotlighting venture backed companies 361 in areas such as drones, space, 362 cybersecurity and AI across the continent, including 363 obviously several from Germany, Austria and Switzerland. And we are 364 seeing more about that also in Defense 365 Tech Germany. An article on our website 366 where 30% of VC said that they are already investing, 45% 367 said that they are planning to invest more 368 Biotech News we don't have anything specific right now, but there will be plenty 369 of news in the funding and MMA section. M and A 370 section, not the MMA section that is for 371 fighting, but I'm not going to fight

372 handing over to. You for FinTech FinTech news thanks 373 Chris Fa said. One of Germany's 374 largest newspapers looks at how Berlin wants to 375 become Europe's fintech capital, focusing on the city's dense cluster 376 of new banks, infrastructure startups and crypto players, plus 377 support from local politics and regulators. This 378 ambition builds on the narrative of Berlin as Germany's startup 379 powerhouse that you cover in the Rise of Berlin 380 startups. Germany's Startup powerhouse 381 Complaints against Trade Republic search by 133% 382 reports Business Insider Driven by issues around app stability, 383 order execution and customer support 384 response Times Business Panda Co founder Eric 385 Demut becomes Executive Chairman, Silicon 386 Canals reports he has stepped down into 387 his new role as Executive chairman, shifting from 388 operational leadership to more strategic oversight position 389 as company continues scaling its digital asset investment

390 platform across Europe. McMarkler points Steve 391 Simmons as new CEO, reports Manager magazine 392 the Real Estate platform has appointed Steve Simmons 393 in as its new CEO, bringing experienced leadership 394 as the company navigates a sluggish property market and rising 395 pressure on brokerage margins. 396 Baobab Insurance is expanding its operation and has appointment 397 Tim Fundlia to strengthen its leadership team 398 as company accelerates its digital insurance strategy. 399 The move supports Baobab's push into scalable technology driven 400 underwriting and customer service models. 401 Chris, you want to talk a little bit general news? 402 Yes, I do. T Online notes that the German 403 retail association HDE is expecting Black Friday sales in 404 Germany to decline for the first time, especially since 405 inflation and consumer caution are dampening the 406 spending Handels blood profiles 407 Celonis as it pivots from pure process mining into a broader AI

408 driven execution platform. We already talked about the competition with 409 SAP. More about that can be found on our website and on in the 410 Handel's blood story. The Byron 411 Fungarian the Bavarian broadcaster BR is 412 reporting that Bavaria is betting heavily on AI data centers, 413 debating whether a gigafactory scale campus could emerge as a 414 regional anchor for compute and cloud infrastructure that would have 415 major implications for Munich and Nuremberg area startups in 416 AI and high performance computing. And 417 that already makes me give it back to you 418 talking about creative destruction. 419 Creative destruction Totally very sad news from our former guest 420 Monkey trending topic report that Austrian savings app 421 startup Monkey has filed for insolvency 422 after failing to do financing ending a multi 423 year push to help customers build automated savings habits 424

and healthier financial behavior. Actually I remember 425 that the vast majority of the users of marquees have 426 been women which was totally uncommon 427 but nonetheless they could not make it work. 428 This is actually quite uncommon here at Startup. We have according 429 to podchaser More than 725 430 episodes live, not including our founders vault and we are 431 aware of only dozen or so companies that we have 432 interviewed as guests and that fight for 433 insolvency. Sexishte Profiles 434 Biotech founder Nadine Schmida Galfer, once celebrated 435 as Saxony's best female founder who is now taking her high 436 tech startup through insolvency and openly framing the 437 process as part of entrepreneurial reality. 438 VC Market Scene reports that German Bionic, the 439 Augsburg based robotic scale up known for its smart 440 exoskeleton has filed for insolvency after major 441 financing round collapsed. Business Insider reports

442 HR unicorn Personio is cutting staff with the piece, 443 focusing on what affected employees can do now in terms of 444 legal rights, severance and next steps in job 445 search for the Dach ecosystem. Layoffs at a 446 flagship like this SaaS player shows that even top tier 447 scale ups are tightening belts as the funding environment 448 normalizes despite Pacific still being profiled as a national 449 champion in pieces like German startups. Handelsblatt 450 reports that Freiburg based Jobrad, German's leading bicycle 451 leasing platform, is cutting 20% of its workforce 452 as demand normalizes after pandemic era heights. 453 Chris, you want to do some 454 fundraising and access the the fun news? 455 Yes, let's end on a high Note here. 456 So FMC has raised 100 million euros to 457 expand its advanced fiber manufacturing technology 458 targeting high performance applications across automotive, industrial and

459 sustainability driven sectors. The company wants to use 460 the money for in order to build more capacity for European supply 461 chains seeking lightweight, durable and low 462 emission materials. Berlin based biopharma company 463 144 so there's the number four, 464 then teen as in teenager and then the number the 465 digit 4 again has extended its Series 466 C round to 55 million euro to advance development 467 of Pro T Zoom up. 468 Proky Zoom up. That is a complicated word for the 469 antibody therapy for to prevent organ failure in acute and 470 critical care settings. The capital now is supposed to support late 471 stage clinical work and preparations for regulatory approval. 472 Target Spiegel reports that Berlin based software and care startup 473 Voice V O I Z e 474 has raised 50 million euros scaling its voice documentation tools to help

475 nurses and carers record information more efficiently. 476 Vienna based Recommerce marketplace refurbed closed the 477 50 million euro round to accelerate their European 478 expansion with a particular push into the uk strengthening 479 its AI driven platform for refurbished electronics and other 480 goods. Reflex aerospace raised also 50 481 million euros as policymakers are increasingly 482 viewing satellites at Europe's Achilles heel with the Berlin 483 based startup now aiming to deliver more agile, responsive spacecraft for 484 defense and secure communication. Del Vtech based in 485 Switzerland, raised $40 million to scale its AI 486 powered opt inspection platform for the electronics manufacturing 487 industry. The company uses computer vision and machine learning 488 to detect defects in highly complex 489 boards, providing faster and more accurate quality control than traditional 490 systems. Swiss fintech future 491 secured 28 million Swiss francs to build a 492

Bitcoin treasury platform that combines multi sig 493 custody, treasury tooling and advisory services 494 for institutional clients. Clone Based 495 Autonomy has raised $20 million in a seed round 496 to build AI digital workforces that automate complex 497 enterprise support and service workflows, with Macquarie 498 Capital Venture Capital leading the round 499 alongside Capnamic, NRW 500 bank and Tech Vision Fund. The 501 startup's agentic AI platform is designed to process dense 502 technological documentation with 503 claimed 95% answer accuracy 504 transcript reports that Berlin based Captain T Cell 505 Max Delbruck center spin out developing next generation 506 TCR T cell therapies for solid tumors 507 has secured a 20 million euro financing round. 508 The capital here is supposed to push its pipeline toward clinical development 509 in a segment considered particularly challenging even within cell 510 therapy that those are the funding rounds now

511 Talking about companies that go together M and A News 512 Yes, M and. A News Manager magazine reports that 513 Northern Data, already under public attention due to leadership ties 514 to individuals close to Donald Trump, has acquired a germ 515 cloud company as part of its infrastructure 516 expansion. The acquisition intensifies debate around 517 governance, transparency and geopolitical influence in Europe's 518 high performance computing landscape, especially given 519 Northern Data's growing role in AI and crypto infrastructure. 520 Astra Cica a, a large pharma company has 521 acquired Swiss biotech startup Six Peaks in a deal 522 worth US$300 million, adding 523 companies precision medicine and immunology technology 524 to its global pipeline. FA Set reports that 525 Walter Clovers has acquired burden based based legal AI 526 startup Libra, strengthening the Dutch information giants product 527 suite for automated legal research and 528 document analyzers. Chris, I would say we

529 call it a day. We have now recorded more than I think 530 almost an hour together here, right? It's a lot. 531 Yeah. So I want to get ready for my fake tofu 532 turkey. Fake fake turkey for 533 tofurkey, whatever. Enjoy that thing. 534 Don't know how you can do that, but nonetheless very, very 535 happy to have you on board. And we will be back with 536 the December news published 537 December 18th and later. Thanks guys. It was a pleasure. 538 Thanks to you all for listening. Bye. 539 That's all folks. Find more news streams, 540 events and 541 interviews@www.startuprad.IO. 542 remember, sharing is caring.

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What is this article about: This Month in DACH Startups - November 2025?

The November 2025 deep dive examines mid-quarter ecosystem trends across the DACH startup landscape — covering AI infrastructure developments, DeepTech momentum, DefenseTech funding, and the fintech shifts defining the region's innovation trajectory heading into year-end.

What are the main takeaways from this discussion?

The November 2025 DACH startup deep dive covers the major ecosystem developments including surging AI infrastructure investment, growing DeepTech and DefenseTech activity, evolving fintech trends, and notable layoff signals. This comprehensive analysis goes beyond headline funding numbers to examine the structural forces shaping startup formation, scaling, and exit dynamics across Germany, Austria, and Switzerland.

How does this topic connect to the broader startup ecosystem?

The November 2025 DACH startup deep dive reveals continued momentum in AI infrastructure investment alongside growing activity in DeepTech and DefenseTech. Fintech trends show consolidation as the sector matures, while notable layoff signals in some subsectors suggest correction. The analysis goes beyond headline numbers to examine the structural forces driving capital allocation and the leading indicators that predict sector performance in the coming quarters.

About the Host

Joern "Joe" Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.

Support Startuprad.io

Every month, Startuprad.io tracks the deals, signals, and policy shifts shaping the DACH startup ecosystem. We work with a select number of partners on high-trust visibility and thought-leadership formats reaching founders, investors, and operators across the region. Explore partnership options here: Partner with Startuprad.io

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