• Security Sutra - By Startuprad.io

    This Month in German Startups – Summer 2020 (July, August, September)

    This Month in German Startups – Summer 2020 Wrap-Up

    Welcome to this month in German Startups by Startuprad.io – in a transatlantic news recording with Chris in New York City.

    Today we are wrapping up summer 2020 for you. This is going to take a bit longer than normal, so grab a coffee and relax on the couch. 

    You can now join us on the entrepreneur network DueDash: https://buff.ly/2R90PYp with 5 Euros a month you support our work! Thank you!


    This recording was made possible by (Hessen Trade and Invest). Learn more about our enabler here: https://www.invest-in-hessen.com/


    Find all options to subscribe here: 


    Housekeeping – Time to brag 

    We made it now in 39 Countries in the podcast charts, adding Switzerland, Zimbabwe, Israel, and Indonesia! Thank you!

    Podcast Charts Appearances of Startuprad.io – Now in 39 countries[/caption]


     As a premier source for startup information from Germany, Startupradio was already a part of the US launch of podcasts on Amazon Music and is now in Germany as well.


    Video News – This video will go live on Thursday, September 24th 19.00 CET (Frankfurt, Zürich, Berlin, Milan)


    Audio News – The audio podcast will go live at the same time

    We just need some time after the release until we can embed the Spotify player here.


    Top News

    Coronavirus / Curevac 

    Curevac was one of the biggest startup stories during the summer. They are a Tübingen, Germany-based biotech company, working on a coronavirus vaccine. 
    They IPOed for more than 200 mn US$ (https://buff.ly/3iUsus6

    They got visited by Elon Musk (https://buff.ly/3cjMdzf

    And we already blogged about their government investment in June (https://buff.ly/3iY0y6Q)

    And they received a large investment pre-IPO by two international heavy weights: 

    • Pre-IPO: Qatar Investment Authority takes stake in vaccine-maker CureVac https://buff.ly/3jnYZzD 
    • Glaxosmithkline (GSK) pays 142 mn Euro for 10% stake in one of #Germany’s most promising candidates for a #coronavirus #vaccine Curevac from Tuebingen https://buff.ly/3homvLk 

    Coronavirus / Potential super spreader event in the Berlin startup scene?

    deutsche-startups reports in their podcast, that a super-spreader event took place in the Berlin Venture Capital and startup scene on Friday, September 11th https://buff.ly/2ElAxzc 



    We keep you updated, just a small selection of news here

    • Wirecard’s liquidator sends employees into garden leave without pay via email after 20.00 o’clock. Rumors talk about 50% of the more than 1.000 employees https://buff.ly/34wB7F6
      Related: Wirecard scandal fallout sees 50% of German staff laid off https://buff.ly/3hvG30v
    • Wirecard liabilities exceeding the assets by 2.8 bn Euro, only a few of the companies within the group had revenues at all says an expert assessment obtained by German media  https://buff.ly/2EzLhKv  
    • Berlin-based Finleap snapped up some employees there:
      Finleap starts a new unit Finleap Forward, with former Wirecard employees to help banks, insurers and SMEs with their digital transformation https://buff.ly/2QsWkra
      More details emerged: Finleap hired a team of six employees of the Wirecard Innovation Labs to help banks, insurance companies, and SMEs with their digital transformation https://buff.ly/3hza2EY
    • Berlin-based big data startup SO1 was bought shortly before the accounting scandal, now the founders bought assets back https://buff.ly/32JMcl0 
    • More than 100 potential bidders lined up to acquire parts of #Wirecard, Germany’s erstwhile fintech darling” https://buff.ly/3g5kbsa 
    • German finance supervisor #bafin reports suspicion of insider trading before denial of attestation to Munich prosecutor https://buff.ly/2ZsS0NO 
    • In September a German court froze the private assets of Markus Braun (former CEO). In total authorities froze “more than 100 mn Euros” worth of assets from four people and three shareholders https://buff.ly/33MNRWd 


    Auto1 – Berlin-based Unicorn – plans it’s IPO (Jörn)

    But there is also happier news from Germany: 

    • New details on the planned IPO of #Berlin-based Auto1 emerged. They hired Citi and Goldman for the IPO, looking at a valuation of 5 bn € https://buff.ly/3bO1HLn 
    • Related: They are looking to IPO in Frankfurt
      Auto1 likely preparing for IPO in Frankfurt – AIM Group https://buff.ly/356cBuV 



    Germany’s formerly most valuable fintech has to file for insolvency

    Monedo Holding (formerly Kreditech, and at this time Germany’s most valuable fintech) has been in trouble for some time now, but they had to open insolvency proceedings at the beginning of September https://buff.ly/3bGsUj1 



    1. A network of Digital Hubs
    2. It’s all about collaboration
    3. Access to industry leaders
    4. Leading in deep tech solutions
    5. Government support 



    Note: The order of news and cities is only due to the time when we discovered the news, rather than anything else.


    • Startup Genome: Global Startup Ecosystem Report:
      Top 7 startup cities keep their ranking in 2020 — but new players are on the rise https://buff.ly/2ZaUhfd
      Frankfurt makes Top 20 Knowledge and Top 30 Funding
      Berlin making No 16 – Overall
      Bern Geneva from Switzerland and Munich are also doing well
    • Deutsche Bank buys stake in Frankfurt-based Supply Chain #financing #fintech Traxpay https://buff.ly/3g6loPR  No further deal details (e.g. price) have been disclosed
    • German business magazine Capital tested 34 robo-advisors. Out of those three #Frankfurt-based made it in the top group – all offspring of traditional asset manager or private banks Visualvest, Zeedin and Bevestor https://buff.ly/2ODZVSx  
    • Business Insider Ranking: Top 100 fastest growing companies in Germany. From the Frankfurt Area
      No 12 Stoertebekker Shaving Accessories (https://en.wikipedia.org/wiki/Klaus_St%C3%B6rtebeker)
      No 33 ChemSQURE
      No 46 WiWin
      No 49 Meshcloud (Learn more about Meshcloud here https://buff.ly/2X2DMQA
    • “Frankfurt’s FinTech Agora Innovation, with its iVE.ONE platform has brought a stock corporation to the Blockchain for the first time in the European Economic Area.” https://buff.ly/33AlUkg
      Related Interview on upcoming law for tokenization of securities https://buff.ly/339VKVr 
    • Brockhaus Capital Management lPOs in Frankfurt in Prime Standard. They raise 115 mn Euros to invest in mid-sized tech companies https://buff.ly/2B5fq2I 

    Darmstadt (also Rhine-Main Area)

    • Boston Dynamics, Merck, and the Darmstadt based robotics software startup Energy Robotics cooperate successfully on an autonomous inspection robot https://buff.ly/32fCoP8
    • You can learn more about the startup here in our interview https://buff.ly/2ZscWo2


    • Start-up Roadjet from Stuttgart: Offers luxury long-distance bus connections for the price of a ticket 2nd class of DB (Germany’s rail operator) https://buff.ly/3jw13FK 


    • Goldman Sachs invests the majority of new 70,5 mn Euros #VentureCapital in Bonn-based IT startup Leanix. The company provides cloud-based solutions for Bosch, VW, consultancies, and others https://buff.ly/2Zrz0iW
      Related (same news, another source):
      Goldman Sachs, Insight Partners, DTCP, Capnamic Ventures and Iris Capital invest 80 mn US$ in LeanIX, bringing the total to 120 mn. The company offers software to optimize IT structures. https://buff.ly/38DzNQQ



    • Munich-based 2trde – a competitor of Berlin’s Auto1 – raises 2.5 mn Euros with Israel-based VC Maniv Mobility as lead investor https://buff.ly/2ZLktxC


    Bruchsal (a city with a population of less than 45.000 people) 

    • German drone startup Volocopter is now accepting reservations for electric air taxi flights https://buff.ly/2EdwF3n 


    • Hamburg-based PaketButler a rental box – working as a mailbox for parcels – is shut down. The service will be stopped end of September https://buff.ly/3latFoV 


    • Since Trier appears here for the first time, let us give you a very brief overview: It is an old city, founded by the Romans and famous for their still standing black city gate, called Porta Nigra. It is a city of approx. 115.000 people, close to the border of Luxembourg
    • Two local banks from Trier invest 3,5 mn Euros in LivEye, a local startup providing video surveillance https://buff.ly/3k9D7sj 



    Startup Mannheim re-branded to Next Mannheim and we have been invited. You will hear more about them in the future. https://next-mannheim.de/en/ 



    • We interviewed #Berlin-based #challenger Bank Bitwala in April, now they are offering 2% interest on savings accounts when other banks are asking for money to hold savings https://buff.ly/3k4MPvh
      Our interview https://buff.ly/307a5Sa 
    • Deutsche Bank gets double hit in digital strategy:
      1) They shut down their investment the virtual wallet startup Yunar
      2) Zeitgold, the accounting software pivots
      Related article to Zeitgold: Zeitgold main product was shut down despite having raised 27 mn Euro Venture Capital. For outsiders a surprise, but there is an article speaking of „absolute chaos“ before the decision https://buff.ly/33HYlaL 
    • Listed tech company Teamviewer buys Bremen-based data glasses startup Ubimax for 136 mn Euros (of which 86 mn in cash) https://buff.ly/38ZKjCd
    • Bonds Bonds Bonds
      Delivery Hero wants to raise up to 1.5 bn € with a convertible note https://buff.ly/3iH1X1X
      Zalando sells bonds worth 1 bn € https://buff.ly/31fIgX7 
    • Hedosophia from London has been one of the most important investors in the #German #fintech scene. Now Finance FWD revealed Michael Bloomberg being one of the investors behind the company https://buff.ly/3l5Kam2 
    • Berlin-based traveltech Omio raises 84 mn Euros. Investors include Temasek, Kinnevik, Goldman Sachs and Kleiner Perkins https://buff.ly/323BCUh 
    • Henkel buys 75% of beauty product brand HelloBody https://buff.ly/3iaHjpX – Henkel produces many household names from washing powder (Persil), to glue (Pattex, Pritt) to detergents (Pril, Biff) and even wallpaper paste (Metylan) 
    • FinanceFWD takes a look into Kinnevik’s reports and looks at the impact of the fintech valuation using DCF https://buff.ly/3jssTTF
      Deposit Solutions valued at 450 mn € ( Deutsche Bank invested in September for 1 bn Euros)
      Betterment valued at 666 mn Euros (a drop of 100 mn Euros)
    • Siemens to cooperate with Berlin-based fintech Raisin on pensions https://buff.ly/3jp79ru find the interview with the founder of raisin here: https://www.startuprad.io/interviews/raisin-financial-crises-inspired-former-partner-large-consultancy-jump-ship-found-startup/ 
    • Berlin-based Sequoia investment, the travel tech startup Tourlane is in trouble, but it’s founder is optimistic. 80% of its clients are booking long-distance trips. They are back to 20-30% of pre-corona business https://buff.ly/2Fxa6HD 
    • Freeletics raises 25 mn Venture Capital to extend the offering to Japan, North, and South America. Press speculates on additional sports like yoga or running for the app that offers individualized coaching for athletes. https://buff.ly/32JT2qF  
    • Delivery Hero picks up Glovo’s LatAm ops for $272M in latest food delivery consolidation – TechCrunch https://buff.ly/2FFIFLw 
    • Berlin-based startup Sennder has bought a chunk of Uber https://buff.ly/3c5aM2N
      “Berlin-based startup sennder has acquired Uber’s European freight business in an all-stock transaction that will see the freight forwarder extend its dominance in the European market.
      As part of the transaction, sennder will become a minority shareholder in Uber and the companies have agreed to a customer referral programme, where sennder will refer US freight customers to Uber and vice versa. “
    • Rocket Internet half-year report:
      9 startups shut down, 5 new
      startup equity valuation took a 85 mn hit
      Rocket Internet Capital Partners (VC Fund) spent only 15% of it’s money so far (closed end of 2019)
      They gave out loans worth 70 mn, avg. 9.3% interest rate
    • CHECK24 – Germany’s largest online comparison platform – is planning to attack startups in their market – tax filing, and compensation for delayed flights https://buff.ly/3hsyUhI 
    • Jacob Fatih was a refugee, then he founded fitness chain FitX in Essen, Germany. Now he wants to help start 1.000 startups there with an incubator named Crealize.  https://buff.ly/32lA5sF 
    • Employees at German fintech Taxfix cash out 3.8 mn € after share buyback | Sifted https://buff.ly/3kvi1Vq 
    • Apeiron Investment Group raises 125 mn Euro #VentureCapital fund to invest in #German #tech companies. The investors include Peter Thiel https://buff.ly/39XIDt8 
    • There was a bug in the IT of N26. Reportedly up to 300 employees could look into personal account information of clients and other employees since they lacked encryption in October 2019 for one week https://buff.ly/3gYbzDM 

    Stay ahead of the curve

    Biweekly publication in summer break

    Our founder

    A summer message from our founder Jörn “Joe” Menninger (LinkedInTwitterCrunchbase) in times of Corona.


    Hello and welcome, everybody, this is Joe – Founder and Host – of Startuprad.io. It is the beginning of July and I wanted to take the opportunity to reach out to you.

    First, I wanted to wish you a great summer – as great as it can be under the current circumstances.

    Second, I wanted to let you know that for July and August we take some time off. Our news is in the regular summer break – Enjoy your summer in New York Chris!

    We will also publish interviews only every other week. We normally used summer to publish interviews from our backlog, but since there have been almost no events we attended in person, there is less backlog.

    We will be back to a weekly publishing schedule in September. Until then, enjoy your time and thank you to all our listeners, who made us reach the podcast charts in now 35 countries across the world. The last ones added have been Hong Kong and Kuwait.

    If you like our podcast, consider supporting us on Patreon.

    Have a great summer and see you again in September!


    You can now support us on Patreon https://www.patreon.com/bePatron?u=35246148 if you like what you see and hear consider to support us, so we can keep bringing you great content.

    Affiliate Links

    Is your startup in need of a bank account in Germany? Try our partner affiliate Penta http://bit.ly/3bdHX3d

    Looking to open a bank account to shift between crypto and fiat? Try our partner Bitwala with this affiliate link here http://bit.ly/2w01Zye

    Feedback – Suggest Interview Partners and more

    Reach out to us, here is our audience survey, to give us feedback, suggest topics, interview partners or just to say “Hallo!” https://forms.gle/mLV6mVKwGwKuut8BA

    Video – Enjoy the summer – As much as you can and stay safe



    Quoscient helps to analyze, investigate and respond to cyber-threats

    QuoScient helps to analyze, investigate and respond to cyber-threats


    Attackers are devious… During the current health crisis, they are going after health institutions and hospitals. They don’t basically care that they are doing damage to people who have already health problems.

    Ioannis Bizimis, Co-Founder QuoScient



    The Founder

    In this interview, we are talking to Ioannis Bizimis (https://www.linkedin.com/in/ioannis-bizimis-6423527/https://twitter.com/defense_active), the Co-Founder, CFO, CRO, and  CISO of QuoScient.

    Ioannis has been an Investment Manager, project lead with Dow Jones, with MarkIt, an employee of Deutsche Bank and other well-regarded companies. He has a lot of experience and with this experience, he started to set up QuoScient.


    One of the biggest strategies [of hackers] is to come into your network and stay there and install as many backdoors as they can. They will use them when they need it.
    Ioannis Bizimis, Co-Founder QuoScient



    You can now support us on Patreon https://www.patreon.com/bePatron?u=35246148 if you like what you see and hear consider to support us, so we can keep bringing you great content.


    It costs hackers just a few hundred Dollars or Euros to build up an attack campaign. The effort on the other side is thousands, sometimes millions to understand this kind of campaign.

    Ioannis Bizimis, Co-Founder QuoScient 


    Affiliate Links

    • Is your startup in need of a bank account in Germany? Try our partner affiliate Penta http://bit.ly/3bdHX3d
    • Looking to open a bank account to shift between crypto and fiat? Try our partner Bitwala with this affiliate link here http://bit.ly/2w01Zye


    The Startup

    QuoScient (https://www.quoscient.io/https://www.crunchbase.com/organization/quoscient)  is a cybersecurity startup, which recently split into three parts to better pursue their respective activities. Two of those entities are still headquartered in Frankfurt, one in Columbia, Maryland (close to Baltimore). They basically split along their business lines:


    [A company] first must understand what their most critical assets are and what are the [cyber] risks to those assets.

    Ioannis Bizimis, Co-Founder QuoScient


    Venture Capital Funding

    QuoScient has just raised venture capital. They may be looking at another funding round in the fall of 2020. If you want to keep posted, reach out to us.


    Threats can not only come from the outside. Capable hackers can also send you someone, pretending to work for you as contractor. … they do this professionally.

    Ioannis Bizimis, Co-Founder QuoScient


    The Video Interview is set to go live on July 2nd, 2020 19.00 CET




    Subscribe to our podcasts here



    Further Readings / Additional Resources

    Have a look at the other interview Joe refers to with IT SEAL:




    Reach out to us, here is our audience survey, to give us feedback, suggest topics, interview partners or just to say “Hallo!” https://forms.gle/mLV6mVKwGwKuut8BA

    This Month in German Startups – June 2020

    This Month in German Startups – June 2020


    Today we are going to talk about German startups, in the process of producing vaccines for Covid19, the potential accounting fraud at Wirecard, startups in Frankfurt, Munich, Cologne and Berlin, and the 110th Birthday of Konrad Zuse, the inventor of the modern-day computer.

    Welcome to this month in German Startups by Startuprad.io – in a transatlantic news recording with Chris in New York City.

    Reach out to us


    If you like our podcast, consider supporting us on Patreonhttps://www.patreon.com/startupradio



    This recording was made possible by (Hessen Trade and Invest). Learn more about our enabler here: https://www.invest-in-hessen.com/


    Find all options to subscribe here: 

    The Video Interview is set to go live on Thursday, June 25th 2020



    The Audio Interview is set to go live on June 30th, 2020

    The Audio Podcast will be published next week. Subscribe to our podcasts here


    Housekeeping – Time to brag 

    Now it is official, Startuprad.io passed several milestones. 

    1. We reached more than 200.000 subscribers for our podcasts alone! 206.014 as of today! We count subscribers, who return at least once in 7 days to our RSS feed over 90 days.
    2. We managed to score more than 1.000 days in podcast charts (iTunes, Stitcher, Spotify, and Chartable), actually, we made 1.026 days so far. https://www.startuprad.io/blog/startuprad-io-ranked-now-in-33-countries-and-1-000-days-in-podcast-charts/
    3. We now scored with PR China, Croatia, and Singapore in three more countries and now we made it in 33 countries in their respective podcast charts. We are also a steady member of chartable.com’s science and tech podcast charts, for the US as well as globally. https://www.startuprad.io/blog/startuprad-io-ranked-now-in-33-countries-and-1-000-days-in-podcast-charts/

    And again we have several interviews and blog posts for you. We will also have on July 1st our first live stream after corona. https://www.meetup.com/Startup-Couch-TV-Talks/events/271395382/


    Coronavirus / Covid19 


    Wirecard – This month’s top news in Germany


    Wirecard is a company processing payments. The company works as an intermediary and guarantor between buyers and sellers and takes a commission on all transactions. They have about 5,000 employees and actually replaced Commerzbank (we will talk about them later) in DAX 30 (Germany’s equivalent of the Dow Jones Industrial Average 30). They are the first “fintech” to achieve this.

    The big problem now is that there are accounts missing, which should hold 1.9 bn Euros in cash. So these 1.9 billion are in their balance sheets, but they probably basically don’t exist. Let’s back up a bit, though.

    Find all the details in our dedicated Podcast recording (Audio, Video, and Blogpost):

    PODCAST News Wrap-up developing Wirecard story


    • VC investments have declined by 20 percent worldwide due to the Corona crisis shows the latest report by Startup Genome https://buff.ly/3eoTdus 
    • There are approximately 900 fintech startups in Germany, of which almost 35% are headquartered in Berlin. No 2 are Hamburg and Frankfurt with 10.6% of the fintechs https://buff.ly/3egGH0v 
    • Ridepooling services are not looking good in Germany and the #coronavirus does not help. With a few exceptions no service provider generates profits and many backers may reconsider after the crisis https://buff.ly/3dopX6a 


    Startup Hubs


    • Commerzbank is not really known across Germany as a big fintech investor. But this story tells how they invested in Marqeta via CommerzVentures. They invested in a 25 mn US$ round and now own (yes, there is some guesswork involved) approx. 3.5% of the company, now valued at 4.3 bn US$ – which leads to their share being valued at approx. 150 mn. This assumes CommerzVentures did not sell any shares in the meantime https://buff.ly/3dvn7gw
    • Bryter, a software toolbox – with locations in #Frankfurt, #Berlin, and #London raises 14 min Euros #VentureCapital https://buff.ly/2MrmN6m 
    • Wingcopter Awarded as Technology Pioneer by World Economic Forum – sUAS News – The Business of Drones https://buff.ly/2Azw8Hi 




    • Ford-owned Spin scooters head to Europe, starting with Germany with Cologne, Essen, and Dortmund – TechCrunch https://buff.ly/3dS2PxN



    • Researchers find exposed data on millions of users of #Berlin-based quiz app, TVSmiles – TechCrunch https://buff.ly/36ZotgX 
    • Klarna partners with Raisin to open savings accounts in Germany https://buff.ly/2BWujEy
    • Former Rocket Internet Managers start 468 Capital, a 170 mn Euros #deeptech #VentureCapital fund https://buff.ly/3d9zSMA
    • There is still life in the German-speaking startup scene. Proof here the #VentureCapital investments (in chronological order)
      • Homeday raises €40 million from Axel Springer and others for its hybrid real estate brokerage service – @tech_eu https://buff.ly/3hxYfXH
      • Berlin-based Contentful secures €71.3M funding to accelerate expansion; ropes in new CMO | @SiliconCanals https://buff.ly/3dc2k0l 
      • 83North, Microsoft|s M12 and Next47, Paua Ventures, EQT Ventures and Atlantic Labs invest 26 million Euro #VentureCapital in Wandelbots, a startup which has a tool to code for industrial robots https://buff.ly/3htkkXD #manufacturing #Germany #startups 
      • Berlin-based #fintech scale-up @smava secures €57 million in financing to maintain growth through economic downturn – @tech_eu https://buff.ly/36D3m47 
      • German #Healthcare #Jobs Startup Medwing Wins $30m Series B Round — Red Herring https://buff.ly/2AinHPW
      • Swiss SME Lending Startup Teylor Closes CHF 8 Million Funding / Expands to Germany https://buff.ly/30rMbBb
    • Sennder, a #Berlin-based logistics company, has acquired French rival Everoad to create one of the largest digital platforms for road shipments in Europe. https://buff.ly/3cJZpMd 
    • Vivid Money: How this new German #mobile #banking startup plans to challenge fintech moguls | @SiliconCanals https://buff.ly/37HGX62


    Happy 110th Birthday to Konrad Zuse

    Konrad Zuse was born on June 22nd, 1910. His greatest achievement was the world’s first programmable computer; the functional program-controlled Turing-complete Z3 became operational in May 1941. His company built more than 250 computers between 1949 to 1967 in Hessen. It was sold to Siemens in 1967.

    Zuse died on 18 December 1995 in Hünfeld, Hesse (near Fulda) from heart failure.



    See you in September! We will be back with "This Month in German Startups" 
    with a summer news wrap-up end of September 2020. Enjoy your summer!


    Stay Ahead of the Curve

    This Month in German Startups – May 2020

    This Month in German Startups – May 2020

    If you are new to our podcast(s), we are wrapping up the startup news of the German-speaking area in a monthly recording from Frankfurt and New York. Have a look at our website www.startuprad.io or www.startup.radio and you will find all the links to our recordings and the articles we are quoting from there. Some of the source articles are in English, some are in German.


    Reach out to us


    If you like our podcast, consider supporting us on Patreonhttps://www.patreon.com/startupradio


    This recording was made possible by (Hessen Trade and Invest). Learn more about our enabler here: https://www.invest-in-hessen.com/

    Together with our enabler, we are running a podcast called “Tech Startups Germany”, which will focus on startups at a Serie A stage or even more mature. You will also find all the videos we produce for this podcast on our YouTube channel www.youtube.com/startupradio. This podcast is available directly on our device as an audio and video podcast. Yes, Startuprad.io makes the first downloadable video podcast. Find all options to subscribe here: 

    Video Recording – YouTube (the video will premiere on Thursday, May 28th 19.00 CET / 1 pm Eastern)



    Housekeeping – Time to brag 

    • The current situation looks a bit better, so we feel ok with a tiny bit of bragging 🙂 We made it in Russia’s Apple Tech Podcast Charts (up to #121) and PR China Apple Tech Podcast Charts (up to #485). This gets the total to 30 countries!  We are also now on Patreon. If you like your podcast, become a patron! (www.patreon.com/startupradio)
    • We published again some cool interviews, where we wanted to highlight especially this month’s interview with IDA, where we talk to the CEO and Co-Founder Hamedo Ayadi of Intelligence Data Analytics. At the start of the coronavirus outbreak, 70% of their employees worked related to aviation, which was completely stopped by one phone call. He tells the story of how they changed strategy fast to survive: https://www.startuprad.io/interviews/ida-pivoted-fast-during-corona-before-70-of-their-employees-worked-with-aviation-companies/ 

    Coronavirus / Covid19

    • German government approves the corona aid package for startups. A two billion fund will add to private funding from the package (30% private, 70% public) this is called „Corona-Matching-Fazilität“ (CMF). The package was put together quite fast since the first announcement has been in mid-April. https://buff.ly/2zFr4jL There will be another pillar, called “Startup-Schutzschild” (startup shield), which will assist the instruments of Germany’s 16 states for startups, who have no backing by investors yet. 
      • Related we found news about two of the measures of single states: 
      • Bavaria: LfA sets up a new loan program for small and very small enterprises – Munich Startup https://buff.ly/3c3MBkp 
      • Hamburg: They call their program InnoStartup – Hamburg Startups https://buff.ly/2zPOLpp (some more information in the Hamburg Hub section)
    • Corona cases in Amazon logistics center in Winsen, Germany: Verdi demands to close the location https://buff.ly/3dipDGb
    • German unicorns like Dreamlines, Flixbus, Getyourguide, Homelike, Hometogo, Omio, Tourlane and Trivago write an open letter to Google to get 75 mn € advertisement money back https://buff.ly/3f2rFMF  the letter is also signed by the head of German startup association
    • 50% of startups have 6 months to live & other insights from our COVID-19 survey – Slush https://buff.ly/2Z6J0hG 
      • Highlights:
      • Startups will need to raise funds at any cost
        • The importance of networks at a new high
        • Recruitment at a halt, but existing staff is largely kept on
        • Remote work is taking a toll “ Working from home has put a strain on startup employees.”
        • As sales drop, new winners are emerging “B2C startups are doing better than those selling B2B, and pure D2C companies have actually experienced a net increase in sales.”Good news: (Chris)
    • KML Vision is an #AI startup from Graz, Austria. It claims, it’s software could recognize Covid-19 on x-ray pictures https://buff.ly/2SA3MT3 
    • In a podcast, Marc Cuban “Why Coming Out of The Pandemic Will Be The Best Time In The History of Mankind To Start A Business” https://buff.ly/2A5ujBd 
    • He was also guest on the show of our friends at “Remote Daily”, a format building a nice business community via daily Zoom calls. There he spoke about leadership in times of crisis. https://www.youtube.com/watch?v=QcO-HmOZpv4 
    • German online grocery store food.de sees the big impact of #COVID19 on its business. They signup increased 25fold https://buff.ly/2yDt8sg 

    Affiliated Links

    • Is your startup in need of a bank account in Germany? Try our partner affiliate Penta http://bit.ly/3bdHX3d
    • Looking to open a bank account to shift between crypto and fiat? Try our partner Bitwala with this affiliate link here http://bit.ly/2w01Zye


    • German Venture Capital Barometer sets a new record low due to #Coronavirus. All indicators in the red. The business climate index for the German VC scene is calculated by the German VC and PE association (BVKAP) and KfW, the government-backed development bank https://buff.ly/2TBBfg5 The quoted specialist finds it likely the VC investors will focus on their portfolio and not make significant new investments 
    • VCs in Germany only finance 8% of startups co-founded by women.  That is 17% of their investments https://buff.ly/2YA04MP 
    • Startups banking in Germany: According to a recent analysis, approx 5% of startups in Germany have a bank account with neobank Penta. The younger the startup, the more likely they are to bank with a challenger bank. The share of established players with newly founded startups is shrinking fast, especially the share of Deutsche Bank, Commerzbank is holding up well. From the established players the German thrift organizations (Sparkassen) are the leaders in startup banking, but they are 385 institutions. Also, the Volksbanken, cooperative banks, are doing pretty well. The Volksbanken and Sparkassen are usually the only banks of which you will find branches outside of larger cities.  
    • More than 50 companies now have permits to trade in medical cannabis in Germany. This crowding leads to a decline in revenues, from „six-digit a month“ to „five-digit a month“ https://buff.ly/3ecdB1V 
      • Related:
        • More cannabis news: Deutsche-Startups has a list of 13 startups, headquartered in Germany working in the market https://buff.ly/3fMwJoI they only forgot Frankfurt-based cansativa https://buff.ly/2VT3gQT, the startup was the reason for a partial lockdown of the city, as they started out because their super-secure warehouse gave a false alarm. 


    This time we have to show a bit more on the less known places, where still interesting startups exist. As you know we like to highlight that here. Note on this section: The order of the articles and hubs is in the order we found them – no other particular order. 

    #Frankfurt (Rhine-Main)

    • The app Aliah supports communications in the hospital and takes away some of the burdens of the medical personal https://buff.ly/2KCssG2 
    • There is a webinar for the STEP program of the German-American Chamber of Commerce in New York City, which enables German startups to make a first “step” to New York. It will take place on June 30th form 14 – 15 CET. You can register here and startups from Hessen can apply for 1.500 Euros funding https://buff.ly/2ADFBg7 
    • Aareal Bank, Wiesbaden-based bank specializes in property financing, wants to sell shares in their IT subsidiary after pressured by an investor https://buff.ly/3dXeJGi

    Also Rhine-Main Area: Mainz

    • There is still business going on during Corona. Mainz-based Mailtastic (a GDPR conform marketing platform) completes exit („seven digits“) to New York-based Cognism https://buff.ly/2X5DpWl 


    • Seven digit Venture Capital investment for Erium, which helps to minimize errors in #manufacturing processes – Munich Startup https://buff.ly/2W20o5r 
    • Wikimedia Germany starts an accelerator program called Unlock in #Munich. All startups working towards an „open knowledge society“ can apply https://buff.ly/2zQ2Cw8 


    • Hamburg-based YogaEasy is booming like Netflix – Hamburg Startups https://buff.ly/35vGNO1  
    • Hamburger Corona Soforthilfe (HCS) is seen as a great success. Of the program 25 mn € are earmarked for startups (HCS InnoStartup), which already approved 2.3 mn Euros  https://buff.ly/2Xe1079  


    • There are still startups founded during corona. Deutsche-Startups highlights 7, including one from Hannover https://buff.ly/3c2ELHz

    #Göppingen (close to Stuttgart) 

    • Permira sells TeamViewer shares worth $1.1 billion – Reuters
      The PE investor bought the German startup outright and listed them later at the Frankfurt stock exchange. Now they sold approx 20% of their stake https://buff.ly/36dV5Dd 




    • German startup Flightright (a startup getting buying passenger compensation claims) sues Lufthansa due to open refunds https://buff.ly/36e5YoP 




    • EIT Digital Challenge is looking for fast-growing European ‚deep-tech‘ companies, handing out 350k in prizes https://buff.ly/2wJwAKR
    • N26, #Berlin-based #fintech unicorn
      – felt first impact (lower transactions) in march
      – in April they sent 150 employees in government-backed Kurzarbeit (10% of their global workforce)
      • now they raise 100 mn US$, with a „steady“ valuation of 3.5 bn US$.  https://buff.ly/3b9dEtm  
        The news comes from the Vienna / Austria-based blog DerBrutkasten.at, they are usually very good, since both remaining founders are natives of Vienna (Valentin Stalf and Maximilian Tayenthal)  and moved with N26 from there to Berlin. The blog further speculates that the increase of their Series D (now 570 mn US$) – 1 ½ years after their initial Series D round –  suggests a short term need for the money. 
    • One of the former founders of #Berlin-based #todolist darling Wunderlist announces a new productivity app called Superlist https://buff.ly/3c8mE31 
    • Soundcloud founders start with a new mobility startup https://buff.ly/2YnMfB1
    • Porsche Invests in Berlin-based Blockchain Startup to develop Platform for Vehicle Management https://buff.ly/2WglSvr 
    • Jumia (started by #Berlin-based Rocket Internet): The e-commerce start-up that fell from grace via BBC Africa
      A year after its much-heralded debut on the New York Stock Exchange, e-commerce start-up Jumia has shut down in three African states, struggled to turn a profit and got dumped by its original owners,  https://buff.ly/2VNqclA?utm_source=-custom-by-source-0-
    • #Berlin-based „B2B Food Group“ with brands like Caterwings, Lemoncat, Monbanquet, and OrderIn retreats from the German home market as a consequence of #Covid19, to focus on other markets https://buff.ly/3d4kVw4 


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