This Month in German, Swiss, and Austrian (GSA) Startups - May 2024 | DACH Startup News | Startuprad.io
- Jörn Menninger
- May 30, 2024
- 34 min read
Updated: Jun 11
Welcome to our May 2024 wrap-up with vital news from the startup and tech entrepreneurship scenes in Germany, Austria, and Switzerland in 30 minutes or less 🙂.
Our startup news is recorded with Chris, back in New York city. Joe is joining from Frankfurt.
Today's news cut is May 16th due to Whit Monday and travel plans. As always, all news not included will be in our next news wrap-up.
Schedule
We will have another news episode coming up on June 27th. Then we will be back with a summer wrap-up published on Labor Day (September 2nd).
In between we will have a bit lighter summer program, but we are not sure yet how it will look. We do have a lot of requests, so we may do more publications than every other week - like we have done in the past for July and August.
DACH Startup News Highlights:
Guys, it really feels like the startup scene is roaring back in GSA, with more large investments, but we also see signs of life in the very early stages. Now would be a good time to grab a drink and a snack, these news are full of positive news and longer than normal:
For this news wrap-up alone, we found new VC funds raised worth more than 7,5 bn US$
Germany is at a crossroads with its pioneering air taxi startups, Lilium and Volocopter. As domestic debate over state support intensifies, France extends a welcoming hand with offers of subsidies and guarantees. Lilium is in advanced talks with the French government to potentially expand its operations there, revealing these plans at the "Choose France" summit hosted by President Macron. Meanwhile, Volocopter faces uncertainty, with stalled certification potentially limiting its role in the upcoming Paris Olympics and considerations of relocating abroad due to financial struggles. The situation underscores Germany's risk of losing its edge in this innovative sector to more supportive foreign governments.
Amazon's bold €7.8 billion investment in Brandenburg to develop a purely European cloud storage infrastructure underscores its unwavering commitment to data sovereignty, even amidst leadership changes at AWS. Meanwhile, WeFox, once a beacon of insurtech innovation, faces valuation setbacks amid growth challenges. On a brighter note, the fight against Alzheimer's gets a substantial boost as Takeda partners with Swiss firm AC Immune in a deal potentially exceeding $2 billion. Despite significant Q1 losses and a dip in stock value, Biontech remains resolute, advancing its oncology pipeline and preparing for a renewed push in COVID vaccine demand later in the year.
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Top News
Will German Air Taxis Fly? Get State Funding or Move to Another Country?
Germany debates support for Lilium and Volocopter while France extends a hand with subsidies and guarantees. Lilium in advanced talks with the French govt for expansion plans & potential financial aid. Read more: https://buff.ly/3UBNCHS
“In Germany, a debate ensues between federal and state authorities regarding support for the air taxi startups Lilium and Volocopter. However, France's government has stepped in, offering subsidies and guarantees to attract these companies. Lilium, a German aviation startup, is now in advanced discussions with the French government regarding plans to expand its production capacity in France and potential state subsidies and credit guarantees. The exact amount of support has not been disclosed. This development was announced by Lilium during the "Choose France" economic summit, aimed at attracting foreign investors, hosted by French President Emmanuel Macron. The summit, attended by 180 business leaders and top executives worldwide, took place at the Versailles Palace, with Macron delivering a speech at a gala dinner. Notably, while Lilium's CEO Klaus Roewe attended the event, competitor Volocopter from Bruchsal was absent from the participant list. Volocopter had aimed to commercially transport passengers in Europe for the first time during the upcoming Olympic Games in Paris but is likely restricted to demonstration flights due to pending certification issues.”
Related: Luftfahrt: Lilium darf auf Staatshilfe aus Frankreich hoffen https://buff.ly/3UMI3Xe
Will @volocopter take flight at #Paris2024 Olympics? Plans for regular air service increasingly uncertain. Despite ambitions, Volocopter CEO Dirk Hoke acknowledges challenges: https://buff.ly/3UNkugX #aviation #innovation
Related: Flugtaxipionier Volocopter droht mit Abwanderung ins Ausland https://buff.ly/3UHUV0Q
Germany risks losing a pioneering technology as Volocopter, the flying taxi innovator, considers relocating abroad due to failed negotiations for financial support. While China & the US thrive, Deutschland risks losing its edge. Read more: https://buff.ly/3V5HWYd #Volocopter #FutureTech
Volocopter warns of insolvency without state aid. Politicians in Bavaria and Baden-Württemberg clash over a 50-million-euro guarantee. The company urgently needs fresh funds to continue its innovative work.: https://buff.ly/4bieUu7 #Volocopter #StateAid #Innovation Volocopter warns of a potential insolvency if the government does not intervene https://buff.ly/3QLGHKU
Exciting news from Lilium N.V.! The company secures $150 million in funding from Yorkville Advisors Global LP. Learn more about the Standby Equity Purchase Agreement here: https://buff.ly/4ar0vKy
Amazon to Invest more than 7.5 bn Euros in Brandenburg
Amazon's Cloud division invests €7.8 billion in Brandenburg to establish purely European storage capacities. Despite the departure of its current chief, AWS remains committed to building a sovereign European cloud: https://buff.ly/3V1PJpN
WeFox Valuation Takes a Hit
Investor devalues stake in @wefoxHQ. Once hailed to revolutionize insurance, wefox now faces valuation woes amid growth challenges. Read more: https://buff.ly/3UIByES #Insurtech #Startup #Investment
Swiss firm AC Gets 100 M (and up to 2BN) US$ to Fight Alzheimer's Disease
Big news in Alzheimer's research! Japanese giant Takeda teams up with Swiss firm AC Immune in a billion-dollar deal to tackle the disease. With an upfront payment of $100M, and the potential for the deal to soar beyond $2B: https://buff.ly/4dJN5wk
🔬 Biontech Advances Cancer Drug Development Amid €318 Million Loss
Facing significant research costs and a decline in revenues from the COVID-19 era, Biontech founders Ugur Sahin and Özlem Tureci began the year with a loss. Despite this, Biontech remains committed to its annual objectives, albeit with its stock under pressure.
The shattered COVID-19 business and increased research costs led the Mainz-based biotech company Biontech to incur a loss in the first quarter. From January to March, the company reported a net loss of €315 million compared to a profit of over €502 million a year ago.
As a result, Biontech's stock fell by around 5 percent to €82. In autumn 2021, at the height of the COVID-19 pandemic, the stock had been priced at around €300.
However, the management anticipates that Biontech will generate approximately 90 percent of its annual revenue in the final months of 2024 due to seasonal demand for COVID vaccines. The company maintains its annual revenue projection of €2.5 to €3.1 billion for the year.
Research costs surge by over 50 percent
Last year, Biontech already felt the impact of declining demand for COVID vaccines and the end of the pandemic, resulting in significant declines in revenue and profit. Biontech is now focusing on the development of its cancer drugs and aims to bring its first drug to market by 2026, as reiterated by its executives. Research and development costs soared by almost 52 percent to €507.5 million in the first quarter.
"We have initiated the year with good progress in our oncology pipeline. We have treated the first patient in our second pivotal Phase 3 trial and aim to have ten or more potentially pivotal trials in the pipeline by the end of 2024," said CFO Jens Holstein.
€16 billion financial cushion
Biontech plans to spend between €2.4 billion and €2.6 billion on research and development this year. With a financial cushion of €16.9 billion, the company is well positioned for this purpose, according to Holstein. The company is also working on an updated, variant-adapted COVID vaccine, expected to be launched for the 2024 vaccination season.
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Ecosystem
Global
Likely a good sign for all VC investors globally: Japan's SoftBank Group reports a quarterly profit turnaround, signaling resilience in the face of challenges. Despite investment loss, the tech investor remains pivotal in the German startup scene. Read more: https://buff.ly/4aw83Ms
Europe
Government funding emerged as a major player in European VC in 2023, doubling its share over the previous year. Amid geopolitical tensions, Europe strengthens its tech sovereignty with sizable investments in AI, quantum, biotech, and climate tech: https://buff.ly/3V2GaXE
📊 Insights from PitchBook's Q1 2024 European Venture report reveal a mixed Q1 with robust deal activity and some fundraising resilience. Early-stage dominance persists, but exits show weakness: https://buff.ly/44GEvKJ
Germany
In April, despite the prevailing investment downturn, we witnessed 12 double-digit or triple-digit million-dollar investments in Germany, totaling around €440 million. Among them are ventures like Flink, Parloa, Markt Pilot, Smart Reporting, finmid, and Proxima Fusion. Despite ongoing crises, numerous startups, scaleups, and grownups managed to secure substantial funding. From well-known entities to under-the-radar gems, here are the recent top funding rounds, amounting to a significant €440 million https://buff.ly/4bGQ5YA
German startups expect more from the EU: unified funding, better access to venture capital, and a true single market. European digital associations unite to call for a reboot of EU startup policy. Read more: https://buff.ly/4dJKh2g
Good news from Germany! The ifo Business Climate Index rose to 89.4 points in April, marking its third consecutive increase. Sentiment is up as companies express satisfaction with current business & brighter expectations. Read more: https://buff.ly/4ao2M9z
German VC sentiment shows signs of recovery in Q1 2024, bouncing back from Q4 2023 slump. Business expectations and IPO climate warming, but entry valuations satisfaction nosedives. More insights at https://buff.ly/3sbfaqs
Europe's quantum startups are thriving amidst global challenges in the quantum computing race. Despite economic uncertainties, they attracted €363 million in investments in 2023, a 47% increase. Learn more: https://buff.ly/44GPOm9
News from Bundesminister Robert Habeck! The Startup Advisory Board gets a makeover with a smaller, more flexible format called 'Start-up Circle'. Find out more about this innovative approach here: https://buff.ly/4bpQPRZ
More than half of overtime hours in Germany in 2023 were unpaid, signaling a concerning trend in work-life balance. According to @IAB_Berlin data cited by @rheinischepost, employees logged 1.3 billion extra hours, over 775 million going without pay: https://buff.ly/4aqyFOP
A new study from the Bertelsmann Foundation & Startup Association reveals: that 6 in 10 startup founders come from academic households, shaping their entrepreneurial journey. Parental background influences networks & mindset: https://buff.ly/3ymAO0B #Startup #Entrepreneurship
Hubs
Here we want to highlight some hidden gems and cities of general startup interest.
Frankfurt - Rhein/Main
Teylor acquires creditshelf in a quest to dominate European lending #fintechnews #fintechgermany #frankfurt #lending https://buff.ly/4aKAsPy Interview with Creditshelf: Article Problem investor, now sold
Iwoca - with their German HQ in Frankfurt - secures £270M in debt funding to bolster SME lending. Supported by Citibank & Insight Investment, the lender responds to rising demand from small businesses. Read more about this investment in iwoca's growth: https://buff.ly/3Qz7PwE
Heidelberg
Discover over 20 startups from Heidelberg that are making waves! From AI powerhouse Aleph Alpha to rising stars like paretos, freshtaste, and Instaffo, the city is buzzing with innovation. Check out the full list here: https://buff.ly/3WGcr83
Aachen
🌟 Aachen's cylib, a sustainable battery recycling firm, just secured €55M in Series A funding! Led by World Fund & Porsche Ventures, with support from Bosch Ventures & more. ♻️ Learn more: https://buff.ly/4bnZGUq
Essen
German Vertical Farming startup, vGreens, secures a coveted spot among the Top 500 FoodTech companies worldwide for 2023. Their innovative use of AI technology in food production earns them this recognition. 🌱🚀 Learn more: https://buff.ly/3V1IqOT
Neuenstadt Am Kocher
Breaking ground in space tech! German startup Hyimpulse launches a rocket powered by candle wax hybrid propulsion, marking a milestone for private space ventures. 🚀 Read more about this innovative feat here: https://buff.ly/3UJc1eK
Austria
Fisker Austria files for insolvency, marking the largest insolvency case in Styria with €1.34 billion. The restructuring process is underway following the opening of proceedings at Graz Regional Court: https://buff.ly/3UIP5w6
CEO Søren Obling completes a 100% founder buyout of Vienna-based InsurTech Finabro. After recent setbacks, including insolvency rumors, Finabro resurfaces with a fresh start in Germany: https://buff.ly/44MEc11
Switzerland
🚀 Exciting News Alert! 🚀 Switzerland's startup scene continues to thrive with innovation and growth. Despite its size, Switzerland ranks 6th globally in total funds raised by tech companies, showcasing its remarkable potential. 🇨🇭💼 In 2023 alone, Swiss tech ventures secured a whopping €2.8 billion, highlighting the nation's prowess in the entrepreneurial landscape. What's truly remarkable is that Switzerland, with a GDP ranking of 21, manages to punch above its weight in the startup arena. Government and private sector collaborations have been instrumental in nurturing this vibrant ecosystem. From tax incentives to funding opportunities and accelerator programs, Switzerland offers a supportive environment for startups to flourish. Curious to know which Swiss startups are making waves in 2024? Check out the list of top 10 Swiss startups to watch in our latest article! 🌟 #SwissStartups #Innovation #Entrepreneurship Link to the source article: https://tech.eu/2024/04/25/10-swiss-startups-to-watch-in-2024/
Note: Austrian and Swiss Fundraises are at the end.
General News / Tech News / Companies News Section
New Funds, in case you are looking for money (also only a selection):
General Catalyst reportedly raises nearly $6 billion for tech startups, signaling robust investor confidence. Funds to be invested across various sectors including #FinTech and #healthcare. Via @FinancialTimes: https://buff.ly/3WJjKvW
Accel announced a new €602.7 million fund to support early-stage founders in Europe & Israel. With a 24-year presence in Europe, they continue to back transformative tech companies. Read more: https://buff.ly/4dH7HVW
Exciting news from Innova Capital! Their latest fund, Innova/7, has closed at €407m, exceeding its target and hard cap. Focused on business & financial services, industrials, and consumer & lifestyle sectors, it's backed by institutional and commercial support. Read more: https://buff.ly/4all6jv
Norrsken VC just closed its second fund at €320 million, doubling down on impact entrepreneurs who are tackling the world's greatest problems. Backed by Europe's top investors like Folksam, AP1, and EIF. Read more: https://buff.ly/3V2NNNT
Not really a new fund, but it is the best place for this news:Global Founders Capital, linked with Rocket Internet, opts for a strategic shift. Instead of a new fund, they'll invest solely from Rocket Internet’s coffers. With €300 million to deploy, they're poised for focused early-stage ventures: https://buff.ly/3yoSHfj
Fintech News
Austrian unicorn Bitpanda expands into MENA with a new office in Dubai, focusing on B2B solutions. Their move reflects growing demand in the region's financial sector: https://buff.ly/4dKlP0q
🚀 Exciting news from Bitpanda No 2 News ! As of April 25, 2024, Bitpanda has become the broker with the largest crypto offering in Europe, boasting 411 cryptocurrencies and over 4.5 million users across nearly 30 countries: https://buff.ly/3QKbOXt
French fintech giant Younited halts new loan operations in Germany, shifting focus to more profitable markets. Despite a four-year presence, citing lower profitability potential and intense competition. Existing customers unaffected: https://buff.ly/3UGxKUB
General News
🌟 Munich's Holidu just made a major move, acquiring Madrid's Clubrural to enhance rural vacation rentals in Spain & Portugal. 🏡💼 With 28,000 homes in their portfolio, this partnership is set to redefine travel experiences. Details: https://buff.ly/3UKUjHD
Big changes at Zalando as co-founder David Schneider steps down as Co-CEO to focus on strategic partnerships and brand relationships. David Schröder steps up as new Co-CEO. Evolution in leadership reflects adaptability to new trends: https://buff.ly/4apjXrp
🌱 Formerly known as Pottsalat and MaKE, Essen's delivery service rebrands as Green Club, marking a new era of fresh, healthy, and sustainable offerings. With 12M€ projected revenue in 2024 and expansion plans across Germany, they're set for success: https://buff.ly/3QLWKIR
Great news! Berlin's food-saving startup, Sirplus, is back in action! Founder Raphael Fellmer secures brand rights, domain, online shop, & social media accounts, with support from investors. Let's fight food waste together! https://buff.ly/3WNmCrx
Despite initial setbacks, East German robotics prodigy, Wandelbots, is poised for a bold comeback. Co-founder Christian Piechnick unveils a radical business model pivot and a strategic AI partnership with OpenAI. A high-stakes move https://buff.ly/4bmqKmN
Discover the top fertility startups catching investors' eyes! VCs from Sofinnova, Antler, and Ananda Impact Ventures reveal their picks via @Siftedeu. With 1 in 6 affected by infertility globally, these solutions are crucial: https://buff.ly/3QOtJMq
Exciting news: Summa Equity acquires majority stake in Munich-based Fast LTA, a leader in secure data storage solutions for businesses. With €25M revenue in 2023, Fast LTA is poised for growth and international expansion: https://buff.ly/3WJ6Nly
Germany revokes Mastodon's non-profit status despite unchanged service. Founder remains undeterred, affirming commitment to EU operations. Read more: https://buff.ly/3UGsr7D
After 17 years: Jimdo founders regain 100% ownership of their startup. CEO and co-founders steer the company through tough times, now profitable and focused on product excellence: https://buff.ly/44LbGN6 learn more about Fridjof in his interview from September 2023: https://medium.com/startuprad-io/from-jimdo-founder-to-green-tech-vc-winner-of-german-startup-awards-2023-investor-of-the-year-9a86196ddabe
English investor Star Capital takes over Nextbike, a bike-sharing provider, from Tier. The move signals a strategic shift, emphasizing Tier's focus on direct-to-consumer services: https://buff.ly/3QKSfy8
Schumpeters Schöpferische Zerstörung ⇒ Creative Destruction Still Ongoing:
Sad news for the VR world: Munich-based startup Holoride files for insolvency. Founder Nils Wollny shares the struggles faced despite promising investments. A setback for innovation in VR/XR experiences. Read more: https://buff.ly/3wCUpsM
Startup Eloop, known for Tesla car-sharing & vehicle tokenization, faces a setback as it halts car-sharing operations due to high costs & financing burdens. The closure is part of a restructuring process: https://buff.ly/4an5ex8
End on a High Note: Successful Fundraisings and Exits:
Keep in mind this is a small selection. The news here and their total value show how resilient the startup scene is. We included only selected fundraisings above 5 million Euros or USD. This month, there were so many announcements that we could not include ALL funds raised. We will only bring you highlights here.
Berlin-based startup Parloa secures €62 million in funding led by Altimeter Capital. With an impressive roster of investors including football legend Bastian Schweinsteiger, Parloa aims to revolutionize call centers with its AI-powered voice intelligence: https://buff.ly/3wD9A5e
Munich-based biotech startup, Insempra, secures €19 million for its innovative biodegradable materials. Led by EQT Ventures, the Series A round also sees investments from Bayern Kapital, Henkel's investment arm, and Valley investor Alante Capital. More https://buff.ly/3V1lDTf
trawa, a leading provider of AI-driven energy solutions, just secured €10M in Seed funding led by Balderton Capital. With plans to expand their AI tech and solutions, they're driving renewable energy forward: https://buff.ly/3yv3Ue2
Fundraises from Switzerland:
Memo Therapeutics raises CHF 20 million in Series C extension, totaling CHF 45 million. The funding will accelerate clinical advancement of AntiBKV, a promising treatment for BK virus infection in kidney transplant patients: https://buff.ly/3ynzN8y
GSK joins BioVersys in a Series C extension round, furthering their collaboration to advance alpibectir for tuberculosis treatment. With a CHF 12.3 million investment, the total proceeds now reach CHF 44.9 million: https://buff.ly/4bAQdIM
🚀 Anapaya enters growth phase with CHF 10 million investment to bolster business critical services using SCION Internet architecture. With funding from Cape Capital, Nagy Moustafa, SIX, and Mysten Labs, Anapaya aims for global expansion: https://buff.ly/3QPWhoV
Testmate Health 🚀 announces $6M Seed funding round led by RH Capital, with support from The Helm, Zürcher Kantonal Bank, Amboy Street Ventures, Lichtsteiner Foundation, and Dartlabs.io. They are revolutionizing at-home testing for STIs: https://buff.ly/3UIRIy2
Fundraises from Austria:
🚀 Vienna's enspiredAI just secured a whopping €25.5M in Series B funding led by ZoukCapital! Exciting times ahead as they gear up to expand globally. Read more about their journey here: https://buff.ly/4bktjWy
We will be back on June 27th with the next news episode and the next regular episode will go live next week.
🧠 Looking for the bigger picture?
Dive deeper into this year’s most important developments across Germany, Austria, and Switzerland in our full analysis: DACH Startup Ecosystem 2024: Trends, Funding & Breakthroughs – https://www.startuprad.io/post/dach-startup-ecosystem-2024-trends-funding-breakthroughs. It’s your go-to resource for startup trends, VC activity, and tech insights across the DACH region.
About the Author:
Jörn “Joe” Menninger is the founder and host of Startuprad.io -- one of Europe’s top startup podcasts that scored as a global Top 20 Podcast in Entrepreneurship. He’s been featured in Forbes, Tech.eu, Geektime, and more for his insights into startups, venture capital, and innovation. With over 15 years of experience in management consulting, digital strategy, and startup scouting, Joe works at the intersection of tech, entrepreneurship, and business transformation—helping founders, investors, and corporates turn bold ideas into real-world impact.
Follow his work on LinkedIn
Stay Ahead of the Curve
🚀🔥 Exciting news from the world of venture capital! Despite recent challenges in the market, top-tier firms continue to secure significant LP capital, demonstrating their resilience and appeal to investors.
General Catalyst, renowned for its leadership in backing iconic companies like Snap, Warby Parker, and Deliveroo, is on track to conclude a remarkable $6 billion VC fund, as reported by the Financial Times. Not to be outdone, Andreessen Horowitz recently announced a substantial $7.2 billion across multiple fund strategies.
With General Catalyst's potential $6 billion fund added to Andreessen Horowitz's recent raise, these two industry titans are poised to capture an impressive 44% of the total LP capital committed to US VC funds this year, according to PitchBook data.This milestone underscores the enduring confidence LPs place in established VC firms, as demonstrated by their continued preference for firms with proven track records and access to premier deal flow. Despite some LPs retreating from emerging managers in recent years, the allure of established firms remains strong, reflecting a perceived lower risk and potentially greater returns.While established funds may offer stability, emerging managers can present unique opportunities for savvy investors. PitchBook's analysis reveals that the top decile of emerging VC funds historically outperforms established funds with excess IRRs of 15.9%.As LPs navigate their investment strategies, it's essential to consider both the stability of established firms and the potential for outsized returns from emerging managers.For more insights into the evolving landscape of venture capital fundraising, check out the full article here: https://buff.ly/44Idmaf
🚀 Excited to share insights on the Arc Product-Market Fit Framework! 🚀 Finding product-market fit is the holy grail for startups. Our years of experience have led us to develop a comprehensive framework to guide founders through this pivotal stage. Check out our latest article to explore the three archetypes of product-market fit and understand which path your company is on. Whether it's the Hair on Fire, Hard Fact, or Future Vision, each archetype comes with its own set of challenges and strategies for success. 🔗 Link to Article: The Arc Product-Market Fit Framework: https://buff.ly/44HV9cR?utm_source=-custom-by-source-0-
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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:
Automated Transcript
Narrator [00:00:05]:
Welcome to Startupradio rad dot io, your podcast and YouTube blog covering the German Startupradio with news, interviews, and live events.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:00:20]:
Hello, and welcome, everybody. This is Joe from start up rate dot aero, your Startupradio podcast and YouTube blog from Germany, bringing you to all the May 2024 news wrap up this month in GSA startups. Of course, again, with Chris in New York. Hey. How you doing, man?
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:00:36]:
Hey. Yeah. I'm doing fine. It's, the first day of, like, really warm weather, it feels. So we had, like, 85 degrees, 30 degree 30 degrees Celsius. So getting ready for summer here.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:00:49]:
Uh-oh. We did here in Germany have a lot of problems with heavy rainfall, especially in Saarland where, where a lot of, where a lot of damage was done by, little creeks that became huge rivers because, due to a lot of rainfall in in a very, very short amount of time. That said, welcome to our May 2024 wrap up with vital news from the start up and tech entrepreneurship scene in Germany, Austria, and Switzerland. This time, we likely not make it in 30 minutes or less, but we'll nonetheless try. Our Startupradio is recorded with Chris back in New York City, and I'm in Frankfurt. Today is May 16th. Due to wood Monday and travel plans, we had to move our schedule a little bit around. But as always, all news relevant not yet included will be part of our next news wrap up.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:01:47]:
Our schedule. We will have another news episode coming up on June 27th. Then we will be back with a summer wrap up published on Labor Day, September 2nd. We already know, when we will record this in August. In between, we'll have a bit lighter summer program but we're not sure yet how it will look. We do have a lot of requests. So we may do more publications than every other week, like we have done in the past for July August. So there were no weekly publication, but every other week.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:02:25]:
And we started again with the StartupRadio on Labor Day. Chris, you always seem to be a highlights guy.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:02:34]:
Yeah. And this month around, it's actually is or fits like a highlight section because when we did the research, it turned out that the StartupRadio scene in Germany, Switzerland, and Austria is actually in a pretty good mood and state of mind, and they seem to be really roaring back. So we see more large investments. We also see more signs of life in very early stage investments. So give looking at the rest of the episode, I would say pour yourself your favorite drink, get a snack, because this will be a lot of positive news this time around and a bit longer than normal.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:03:10]:
And it can also be an adult beverage.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:03:13]:
Adult. Yeah. Yeah. Yeah. Of course. Day drinking for the win. So for this, news wrap up alone, we found new VC funds raised more than 7,500,000,000 US dollars. One of the top news we're gonna look into is, Germany really being at a crossroads with, pioneering air taxi Startupradio.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:03:34]:
One category that we look into here quite often, Lilium and Volocopter in that case. Domestic debate over those, companies are a lot about state support, and, Germany is questioning whether they should subsidize these companies. But France is stepping in, and they extend a welcoming hand with offers of subsidies and guarantees. Lilium is in advanced talks with the French government, and, we will have a bit of a look, there.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:04:07]:
Yes. Amazon's bought 7.8 €1,000,000,000 investment in Brandenburg to develop a purely European cloud storage infrastructure, underscores its unwavering commitment to data sovereignty even amidst leadership changes at AWS. We may add that Brandenburg is the is the state surrounding Berlin. Meanwhile, Wefox, once a beacon of insurtech innovation, faces valuation setbacks amid growth challenges. At on a brighter note, the fight against Alzheimer's get a substantial boost at Takeda Partners, with Swiss firm AC Immune in a deal potentially exceeding 2,000,000,000 US dollars despite significant q one losses and a dip in stock valuation, bio and tech remains resolute advancing its oncology pipeline and preparing for a renewed push in COVID vaccine demand later this year. Guys, let's talk startups. As always, Eos strongly recommended to tune into our Internet radio station, which will also soon get a new, website. More than a 100000 people are listening, a month.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:05:34]:
And you can get your our content to your inbox with our sub stack or, Telegram newsletter. Of course, you can find all our channels on Linktree, our enabler. This recording is supported by HTII and the Enterprise Europe Network, Hessen. This recording was made possible by HTI and the Enterprise Europe Network, Hessen. These organizations have made tremendous contributions to helping start up businesses succeed and thrive, providing a range of services from helping to find grants to ongoing partnerships. By taking advantage of these resources, start up companies can network and develop innovative strategies for success on the international stage. The dedicated support of HDIA and the EEN Essent is paramount in providing StartupRadio businesses with the tools for lasting success. Look for our dedicated sub podcast in partnership with them called Tech Startups Germany.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:06:35]:
Of course, you could find it on our Linktree. Chris, you wanna handle some of the top news?
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:06:43]:
Yes. And there I mean, we started I started talking about it a bit already. We see, pretty lengthy and intense discussion about the topic of air taxis. So in Germany, especially in southern Germany, Bavarian, but in Wurttemberg, politicians really wonder how much they should subsidize, this industry, specifically companies like Lilium and Volocopter, while at the same time, France seems to be extending a bit of a warmer hand in terms of subsidies and guarantees. Especially Lilium seems to be in advanced talks with the French government for expansion plans and potential financial aid even though, the possible involvement at the Olympic Games in Paris where they were discussing about flight taxis was a bit trimmed down. We have a lot of additional resources about this in our show notes where, we will talk where you can read more about Volocopter at the Olympics, where you can read more about how Volocopter threatens to move the company from Germany to a foreign country, where you can see that China and the US are actually doing better than Germany right now. And, yeah. So the big question about all of this, I guess, is how big can this actually be? I think compared to 3, 4, 5 years ago, the mood in the market also kind of shifted for this.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:08:21]:
And the question because also we see that a lot of especially the autonomous driving topics are toned down. Like, Apple nixed their plan for a car. Daimler Daimler said that they are not gonna pursue anymore an autonomously driven truck for now. So yeah. And and a lot of the, innovation and Startupradio novelties in the transportation field seem to be a bit on the, like, waning side, I would say. So we will see how it goes with the air taxi and aviation companies. Moving on from that, Amazon, as you already hinted at, is going to invest more than €7,500,000,000 in Brandenburg, specifically their cloud division, who which wants to invest €7,800,000,000, in order to establish a a purely European to establish purely European storage capacities. Even though their current chief, AWS, even though their current chief departed, AWS remains committed to building a sovereign, European cloud.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:09:36]:
Wefox valuation took a hit. The investor devalued the stake in, Wefox. Once, Wefox was hailed as a revolutionize as a revolutionary insurance, but now, they feel some of the woes amid growth challenges. I feel a lot of this today is, like, badly bad for a German. We, fucks, revolution. Anyway, then, the Swiss firm AC gets a 100,000,000 and up to 2,000,000,000 US dollars to fight Alzheimer's disease, which is really big news in Alzheimer's research. It's a Japanese company, Takeda, that teams up with the Swiss firm, AC Immune, in a $1,000,000,000 deal to tackle the disease. The upfront payment is a $100,000,000, and the potential for the deal is to soar between $2,000,000,000.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:10:26]:
More about that in the show notes. And, now you also got more information about in about the health sector.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:10:33]:
You know what's really crazy about this? If you see the 2,000,000,000, actually 100,000,000 US dollar looks like a small sum, but it isn't. Far from it. Talking about bio and tech. Bio and tech advances cancer drug development, amid 380,000,000 loss. Facing significant research costs and a decline in revenues from the COVID area, BioNTech founders began this year with loss. Despite this, BioNTech remains committed to its annual objectives or bite with the stock under pressure. The shattered COVID 19 business and increased research costs led the Mindspace Biotech Company to incur a loss in the Q1, which was 315,000,000 compared with a profit of over 400,000,000 in a year ago. Tech stock is down.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:11:28]:
But nonetheless, they are looking to generate around 90% of its annual revenue in the final months of 2024 due to the seasonal demand for COVID vaccines. Their research costs surge by 50%, but, you don't need to fear, when they have more than 300,000,000 loss, they're sitting on a 16 1,000,000,000. Yes. Billion with a b financial caution. So everything should be great. By the way, our new website is live. It took me quite a lot of time and work, but nonetheless, it is there. Stop by and leave us feedback.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:12:09]:
The little disclaimer, not all blog posts are moved there yet, but we will do this in the future. Plus not all the plays for the sub podcasts works, work that is due to, some restrictions of the, toolbox we're using to, put together the website. Nonetheless, we'll find a solution for that as well. If you're looking to partner with us, you see you will find our storefront at passionfruit.meforward/startupradio, Joe word. And now I'm handing over to the ecosystem to Chris again.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:12:46]:
Yes. And in the ecosystem, it's basically where we zoom in in our show, regarding information and news that affect the wider Startupradio landscape. So let's start on a global level, where we see a likely good sign for all VC investors globally. Japan's Japan's SoftBank Group reports a quarterly profit turnaround, signaling resilience in the face of challenges. Despite investment loss, the tech investor remains pivotal in the German Startupradio as well. More about that in the show notes. Zooming in on Europe where we see that government funding emerged as a major player in European VC funding in 2023, doubling its share over the previous year. Amid geopolitical tensions, Europe strengthens its tech sovereignty with sizable investments in AI, quantum and biotech, and in climate tech.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:13:41]:
And we've got some insights from PitchBook's q 1 2024 European venture report that revealed a mixed q one with robust deal activity and some fundraising resilience. Early stage dominance persist, but exits showed some weakness. In the German StartupRadio ecosystem, we see that in April, despite the prevailing investment turn down, we witnessed 12 double digit or triple digit $1,000,000 investments in the country, totaling around €440,000,000. Among them are ventures like Flink, Palua, Mark Pilot, Smart Reporting, Finmit, and Proxima Fusion. Despite several ongoing crises, numerous StartupRadio, scale ups, and grown ups managed to secure substantial funding from well known entities to under the radar gems. We got a couple of the recent top funding runs rounds in the show notes. Then German startups also expect more from the EU, like unified funding, better access to venture capital, and a true single market. We see that European Digital Associations unite to call for a reboot of the EU StartupRadio policy.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:14:49]:
Background for that also in the show notes. And we got good news from Germany. We often look at it, the e for business climate index, basically a survey, a regular survey among business leaders. It rose to 89.4 points in April, marking the 3rd consecutive increase. Sentiment is up as companies express satisfaction with the current business and brighter expectations. German BC sentiment also shows signs of recovery in, q 1 2024 bouncing back from q from a q 4 slump of the past year. Business expectations and IPO climate warming, but entry IPO business expectation in the IPO climate are warming, but entry valuation satisfaction nosedives. Europe's quantum startups are thriving amidst global challenges in the quantum computing race.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:15:44]:
They attracted €336,000,000 in investments in 2023, which is, an increase of 47%. And we got news from Bundest minister Robert Harbeck, economy, secretary for for the, for business and, for the economy. The StartupRadio advisory board gets a makeover with a smaller and more flexible format called the startup circle. More about that approach is in the show notes. And, we got a report that looks at the German workforce that says more than half of all overtime hours in Germany in the past year were unpaid. All of that, obviously, a sig a concerning trend in work life balance. Employees altogether locked a staggering 1,300,000,000 extra hours out of which 775,000,000 went without pay apparently. And, we have a study about where about StartupRadio founders and the, the people that get to, start startups in Germany from the Berthoud Mann Foundation, and they found out that 6 in 10 founders come from, academic households.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:17:04]:
So, are not first generation college kids. And that, obviously, this level of education is also shaping the entrepreneurial journey, and, parental background influences not only their networks, but also their mindsets, says the study. We have the full study in the show notes and also some coverage from Zeatrutch exciting about that. After this look at the whole ecosystem, we are now gonna look at some of the biggest German Startupradio hubs. And since we're starting with Frankfurt, I'll hand it over back to you.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:17:44]:
Thank you very much. Of course, we tend to highlight here some hidden gems and cities of general start up interest. We start with my Joe turf Frankfurt, Rhein Main. Taylor acquires Credit Shelf in a quest to dominate your to dominate European Menninger. We do have an interview with Credit Shelf where they announced a 100,000,000 investment led by Goldman Sachs. Unfortunately, that never came true because they, they had problems with an existing investor chipping in the first loss piece. And that's why they went almost belly up and got rescued by be acquired by Taylor. Evuka, with the German headquarter in Frankfurt, secures £270,000,000 in debt funding to bolster SME Menninger supported by Citibank and Insight Investment.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:18:32]:
The lender responds to rising demand from small businesses. Of course, read more in our show notes. Beautiful city of Heidelberg. Discover over 20 startups from Heidelberg that are making waves from AI powerhouse, Alabalfa, to rising stars like Pareto's, Fresh Taste, and in Stavord, the city's buzzing with innovation. Check out the full list in the show notes. Aachen's SILEB, a sustainable battery recycling firm, just secured 55,000,000 in series a funding led by World Fund and Porsche Ventures with support from Bosch Ventures and more. Essen, German vertical farming StartupRadio Greens, small v, big g, secures a coveted spot among the top 500 food tech companies worldwide for 2023. Their innovative use of AI technology in food production earns them this recognition.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:19:35]:
And I thought vertical farming was dead. I'm surprised. And Chris is almost in his home turf in a town I've never heard from again. Chris, can can you help me out where this city is and why it's so beautiful?
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:19:48]:
I was fighting to take this over. So we are looking, I I think, for the first time ever, obviously, at Neustadt am Coche. Neustadt am Coche is a small town close to Heilbron, close to Stuttgart, and I actually have friends there who run one of the most charming coworking and event spaces. So if you ever need an event space in Neustadt am Kocha, be sure to check out Atelier Fox. But what we are, also looking at today is that there is another company there that's writing headlines, and, to be more precise, they are breaking ground in space tech. It's called High Impulse, high h y impulse. And they launched a rocket powered by Candle wax hybrid propulsion. Propulsion.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:20:35]:
Oh god. I could never be an engineer because I can't say the words. Marking a milestone for private space ventures. 100 Splat German Business and Economics Newspaper wrote a lot about this. That's it about Germany, though. Let's look at Austria, my specialty. Fiskars Austria filed for insolvency, marking the largest insolvency case in Styria in Der Steiermark, which with €1,340,000,000, they have a restructuring process underway following the opening of proceedings at the regional court in Graz. Then CEO, Obling, completed a 100% founder buyout of the Vienna based Introtech Finabro Finabro? Fin a bro? Maybe it's for people who go to the gym.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:21:22]:
It's Finabro. After recent setbacks, including insolvency rumors, Finabro resurfaced with a fresh start in Germany. And, Joe in onto Switzerland, we have a news alert. The Swiss StartupRadio scene continues to thrive with innovation and growth, despite the size says tech EU. Despite its size, Switzerland ranks 6th globally in total funds raised by tech companies showcasing, what is a pretty remarkable potential. In 2023 alone, the Swiss Tech Venture secured €2,800,000,000, pretty whooping, highlighting the nation's prowess in the entrepreneurial landscape. Switzerland with a GDP ranking of 21 worldwide manages to punch above its weight in the StartupRadio arena in that case. The, Tech EU article also looks into the details why that is the case.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:22:20]:
One, reason for it is that the government and private sector collaborations have been instrumental in nurturing the ecosystem there. Then there are tax incentives to funding up to fund opportunities, accelerator programs, and overall, just like a very, supportive environment for start ups. We will have some more, fundraisers for Austrian and Swiss companies in the end, but for now, we will move on to the general news tech news and company news section. 1st off, there are new funds in case any of you guys is looking for money. This is also only a selection. Let me rattle some of them. The general catalyst reportedly raises nearly €6,000,000,000 for tech Startupradio, signaling a robust investor confidence. Funds are going to be invested across various sectors including Fintech and health care, right, the Financial Times.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:23:18]:
XL, ACCEL, announced a new 602,000,000 euro fund to support early stage funders in Europe and Israel. They already have a 24 year old 24 year presence in Europe and continue to back, tech companies. Their news from Innovacapital, their latest fund, Innovac7, has closed 407,000,000 exceeding its target and hard cap. They are focused on business and financial services, industrials, and consumer and lifestyle sectors and are backed by institutional and commercial support. Norskine VC just closed its 2nd fund at €320,000,000, doubling down on impact entrepreneurs tackling the world's greatest problems and backed by some of Europe's top investors like folks on AP 1 and EIF. And not really a new fund, but, this is just like the best place for our start up news to talk about it. The global founders' capital linked with Rocket Internet opts for a strategic shift now. Instead of a new fund, they'll invest solely from Rocket.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:24:21]:
Internet's coffers, with €300,000,000 to deploy their poised for focused early stage ventures that they say. Moving on, handing it back to you.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:24:34]:
Going into the Fintech news, 2 times Austria this time, 2 times a Bitpanda. Number 1 is, they expand into MENA, Middle East and North Africa with a new office in Dubai focusing on b to b solutions. And Bitpanda news number 2 on a as of April 25th, Bitpanda has become the broker with largest crypto offering in Europe boasting 411 currencies and over 4,500,000 users across nearly 30 countries. French Techstra giant, United, odds new loan operations in Germany shifting focus more to profit profitable markets despite a 4 year presence citing lower profitability potential and intense competition. Chris, you wanna hand over, you wanna take over general news again?
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:25:28]:
Yeah. Let's look at a couple of more companies. Starting with Munich's Hollydo, just like holiday, but with a u instead of a y in the end. They made a major move acquiring Madrid's mad Madrid's Club Rural to, enhance their rural vacation rentals in Spain and Portugal. They now claim to have 28,000 homes in their portfolio. So basically, chain changing probably or probably changing a lot of travel experiences there. We see big changes at Zalando as their cofounder David Schneider steps down as Joe CEO to focus on strategic partnerships and brand relationships. David Schroder, so it's like a change of the Davids there.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:26:10]:
David steps up as a new co CEO. And, yeah, that's what what we have about Zalando. Formerly known as Pozhalot and make Essence Delivery serve as rebrands as GreenClub, looking into fresh, healthy, and sustainable offerings. They have a €12,000,000 in revenue projected for 2024 and expansion plans across Germany. Good luck for that. The food saving StartupRadio from Berlin, or surplus is back in action. Founder, Rafael Fehmer, secured brand rights domain and online shop and social media accounts with support from investors and wants to fight food waste. Despite some initial setbacks, the Eastern German robotics prodigy, Wandelbots, is looking for a comeback.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:27:04]:
Cofounder Christian Pichnik unveiled unveiled a radical business model pivot and a strategic AI partnership with OpenAI. High stakes move, More information about that in the show notes. We have some more news about top fertility Startupradio catching investors' eyes. VCs from Zofinova, Antler, and Ananda Impact Ventures revealed their pick at, Sift. EU. 1 in 6 1 in 6 people affected by globally. So they are hoping that their solutions will become crucial in that medical field. Zuma Equity acquires a majority stake in the Munich based FastLTA, a leader in secure data storage solution for businesses.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:27:48]:
Fast LTA has €25,000,000 revenue in 2023 and wants to grow and expand internationally. Then, Germany has revoked Mastodon's non profit status despite an an an unchanged service. The founder says, though, he remains undeterred and is confirming the commitment to EU operations. Then, the founders of Jimdo, after 17 years, regained a 100% ownership of their StartupRadio and cofounder steered the company through tough times, now profitable, and are focused on product. Excellent. That what they say that's what they say. We have freed you off in our interview from September 2023. You can find that in our medium channel.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:28:37]:
Link to that is in the show notes. And the English investor, Star Capital, takes over Nextbike, a bike sharing provider from Tia, which for them signals a strategic shift emphasizing TIER's focus on direct to customer services. But we also have some more, like, brutal changes, which we collect under the euphemism of creative destruction.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:29:04]:
Yes. We do. Creative destruction. But, Chris, I get the feeling the fundraising section gets bigger and bigger, and the creative destruction, section gets smaller and smaller, just at least the feeling. Sad news for the v arvo, Munich based holo ride fights for insolvency. StartupRadio Eeloop, known for Tesla car sharing and vehicle tokenization, faces a setback as it halts car sharing operations due to high costs and financing burdens. The closure is part of a restructuring process. Chris, you want to take over the high note and the fundraisings?
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:29:36]:
There was not a lot of lot of destruction, actually. So, yeah, fundraisings. Just another small selection. I'm gonna really be fast with this. The news here and their total value show how resilient the StartupRadio in GSA is. We've only included a selected number of fundraisings about €5,000,000 or US dollars. Let's start. Berlin based Startupradio, secures €62,000,000 in funding led by Ultimeta Capital.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:30:08]:
Some of the investors include football legend, Bastian Schweinsteiger, and Palua aims to revolutionize call centers with an AI powered voice intelligence. Munich based biotech startup in Sempra got €19,000,000 for an innovative for their biodegradable materials led by EQT Ventures. The series a round also seized investments from Bion Capital, the investment arm of Henkel, and Valley investor Allantecapitor. In industrial biotechnology, in Sempra, secure oh, sorry. That's, that's the same. Trava, a leading provider of AI driven energy solutions, just secured €10,000,000 in seed funding led by Baldaton Capital. They plan to expand their eye tech and solutions, to drive renewable energy forward. And I promise we will have a look at some more from Switzerland where MIMO Therapeutics raises 20,000,000 Swiss francs in a series c extension, totaling now 45,000,000 Swiss francs.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:31:14]:
The funding will accelerate clinical advancement of anti BKV, a promising treatment for BK virus infection in kidney transplants patients. GlaxoSmith Klein joins Bioversus in a series c extension run furthering their collaboration to advance IP Bacteria for, tuberculosis treatment. With a 12,300,000 investment, the total proceeds now reach around 45,000,000 Swiss francs. Anapaya enters a growth phase with 10,000,000 Swiss francs in investment to bolster their business critical services using, Xi'an Internet arch architecture. Funding they receive comes from Cape Capital, Najee Mustafa, 6, and Misten Labs. And Appiah wants to use the money for global expansion as well. Test Maid Health announced $6,000,000 in seed funding, led by led by RH Capital with support from the helm, Zurcher Kantonalbank, M. Boy Street Ventures, Liechsteiner Foundation, and Dart Labs dot Joe.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:32:30]:
Their goal at Testmate Health is to improve at home testings testing for, STIs. And in Austria, we see that Vienna's Inspire AI just secured €25,500,000 in series b led by Zook Capital. They also are looking at a global expansion. More about their journey is also in our show notes. We have some more news to stay ahead of the curve. You can read all about that in the show notes. We are always looking for feedback. We are happy if you follow us everywhere.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:33:09]:
If you leave us a review, hit that subscribe button. That's always good for our numbers. I'm gonna say we will be back on June 27th as promised by Joe as well with the news next news episodes and the next regular episode. Will go live next week. Until then, I would say have a happy early weeks of summer. I think getting out there is really a good mood enhancer. Don't work too hard on your startups. And if you do, just look for how to get how to make the money.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:33:45]:
It's my advice.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:33:47]:
And, Chris, you know what? It wasn't too bad. We were afraid that we would talk around 50 minutes. We it will be just shy of 35 minutes, which isn't too bad. Chris, it was as always a pleasure talking to you. And, I didn't hear sirens, so you owe me a bagel for today.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:34:07]:
I that's good. Yeah. I hit a lot of I muted myself a lot because outside there's construction and I have the AC is on. So, I kind of cheated today.
Jörn "Joe" Menninger | CEO and Founder Startuprad.io [00:34:19]:
As always, guys, give us feedback in the blog post. There is a form for the feedback and, of course, a link to the host on LinkedIn and on Twitter for Chris and for me. Guys, that's a wrap. Thank you very much. It was a pleasure having you here.
Christian "Chris" Fahrenbach | Co-Founder Startuprad.io [00:34:33]:
Ciao for now.
Narrator [00:34:39]:
That's all, folks. Find more news, streams, events, at interviews at www.startuprad. Joe. Remember, sharing is caring.
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