• Tech Startups Germany (Audio)

    This Month in German Startups – February 2021

    This Month in German Startups – February 2021

    Welcome to This Month in German Startups by Startuprad.io – in a transatlantic news recording with Chris in New York City and me Joe, from Frankfurt am Main. 

    Today we are wrapping up February 2021 for you. There is great news in the German startup scene, the much anticipated Auto1 IPO generated two new tech billionaires, Europe’s first Tech SPAC lists in Frankfurt, more Wirecard details, we talk about Trade Republic and Gamestop, as well as the billion exit of Berlin-based AdJust.


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    Keep Up to Date

    Here is our publication calendar: https://calendar.google.com/calendar/u/0?cid=MDEyaTI3YWs1MjVxaTNzbWdqbDh2OXRiaW9AZ3JvdXAuY2FsZW5kYXIuZ29vZ2xlLmNvbQ


    Affiliated Links

    Why not learn from entrepreneurs and executives who are open to share their favorite books. We skimmed through some recommendations and that is what we found.

    • Recommended by: Bill Gates
      “Enlightenment Now by Steven Pinker” https://amzn.to/2XAENlB
    • Recommended by: Jeff Bezos
      “Built to Last: Successful Habits of Visionary Companies by Jim Collins and Jerry Porras” https://amzn.to/2RGKGKe
    • Recommended by: Elon Musk
      “Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel” https://amzn.to/2REbHhw
    • Recommended by: Tony Hsieh
      “Tribal Leadership: Leveraging Natural Groups to Build a Thriving Organization by Dave Logan” https://amzn.to/34KgraQ
    • Recommended by: Warren Buffet
      “Business Adventures: Twelve Classic Tales From the World of Wall Street by John Brooks” https://amzn.to/2K92z06
    • Recommended by: Tim Cook
      “Competing Against Time by George Stalk and Thomas Hout” https://amzn.to/3cjMMYn


    Housekeeping – Time to brag 

    Stay safe everyone! 

    In the meantime you can tune in to our internet radio station, the worlds first 24/7 dedicated to startups and tech companies! https://s2.radio.co/sb16d65602/listen – We will soon be available on many platforms, for now:


    Top News

    We have two new tech billionaires

    • The IPO of Auto1 went spectacularly well and skyrocketed on the first day of trading on February 4th, surging 45%. We took a look at the data and realized that this was the first tech IPO in a long time that generated new tech billionaires in Germany. 
    • Bloomberg: SoftBank-Backed Auto1 Soars in Debut After $2.2 Billion IPO https://buff.ly/2YLTm5j
    • Reuters: UPDATE 2-AUTO1 shares go into top gear in Frankfurt debut https://buff.ly/3pLaOSm
    • Read more in our blogpost here: At recording this Auto1 IPO turns founders into billionaires https://buff.ly/3oY45EA  
    • Related: The story from the side of one of their first investors: How VC fund DN Capital invested in car marketplace Auto1 8 years ago and landed an $8 billion IPO winner https://buff.ly/3abVPMO 




    Trade Republic, Reddit and GameStop



    • Porsche’s Cayenne Boss Dr. Manfred Harrer (48) is hired by Apple. He was rumored to be one of the best engineers in the company. 
    • Is the iCar around the corner? https://buff.ly/36x2SNM


    Game over for Mapify?

    • Founders of Berlin-based traveltech Mapify “the Instagram of travel“ give up „evaluating options.“ Their current investors include Lakestar and Atlantic Labs https://buff.ly/39BbzZp  (We will come back to Lakestar, keep them in mind).


    AdJust Exit for 1.2 bn US$ (990 m Euro)

    • AppLovin buys Berlin-based mobile marketing company AdJust and pays 1,2 bn US$ https://buff.ly/3pQCm9P according to Deutsche Startups, who published the price
    • Related: Apploving said to acquire Berlin-based Adjust in a 1 bn $ deal https://buff.ly/2NVhrV2 



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

    Keep in mind there is still an investigative committee ongoing.

    • Deutsche Bank fires supervisory board member Schütz over email correspondence with Wirecard CEO Braun https://buff.ly/3tGjs7Q
    • German finance oversight BaFin places one employee on leave due to internal investigations in trading in Wirecard shares before the scandal became public https://buff.ly/2YywIgG
    • Germany’s highest court ruled that EY auditors have no right to refuse to give evidence, now the parliamentary committee will invite the auditors and EYs CEO for Germany https://buff.ly/3s01zzi 


    The Digital Euro

    ECB keeps working on digital Euro. Italien central banker said the ECB is looking at the digital Euro for their instant payment system „Target Instant Payment Settlement TIPS“ as a first step https://buff.ly/3ji4xMJ 

    The Audio Interview

    You can subscribe to our podcasts here



    • Why we need to start looking at Europe as one tech ecosystem https://buff.ly/3cdZWJU  
    • It’s IPO time! Here are 30+ European tech companies most likely to go public this year great list by Tech_eu https://buff.ly/39lB3de 
    • including German startups Auto1, SUSE, Mister Spex, About You and N26
    • What U.S. Startups Get Wrong About Expanding into Europe https://buff.ly/3rIR5EA 
    • Iconiq Capital, the US investment firm backed by Silicon Valley elites like Mark Zuckerberg, is expanding to Europe https://buff.ly/3anUdj4 



    Note: The order of news and cities is only due to the time when we discovered the news.


    • Aleph Alpha, Heidelberg-based AI startup raises 5.3 m Euros (6.4 m US$) from investors LEA Partners and #Berlin-based 468 Capital https://buff.ly/2YhD0kL 



    • The founders of beverage delivery startup Flaschenpost just sold their company to German food giant Oetker, now they invest in an HRtech startup from Münster –  Echometer, which better enables agile work https://buff.ly/2YfmTUO 


    • Germany #BioTech #startup Curevac, which listed on NASDAQ in summer 2020 – working on a corona vaccination – is planning to raise additional capital, which could amount to 600 m US$  https://buff.ly/3t1PkDS 


    • Düsseldorf-based SME financing platform Compeon closes 15 m € Series C #VentureCapital funding with government-backed NRW Bank joining previous investors including Quatar Development Bank https://buff.ly/39tdJu7 


    • Egym receives 28 m € #VentureCapital for the production of connected gym equipment. In spring 2020 they had to let go 100 of 450 employees https://buff.ly/2O3hmyP 


    • Australian Unicorn Canva buys Vienna-based Kaleido AI. Kaleido offers a service where one can automatically cut the picture of a human out of the background https://buff.ly/3aIohVL 
    • Austrian crypto startup „Startup Hero“ issuer of the Herocoin gets acquired by  international gambling group Novomatic, also from Austria https://buff.ly/3d695nY 



    • Liechtenstein-based VC MIG gets 340 m € payout from their investment in Mainz-based BioNTech https://buff.ly/3jjsHq3 


    Fintech and Cryptocurrencies

    • Mastercard to open up network to select cryptocurrencies https://buff.ly/3d0AzLM, but not the ones you may think
    • Finleap was once a fintech company builder in #Berlin with 80 employees at peak. Now there are around 20 left to manage existing investments and there may be 20 more work on innovations for corporates in the future https://buff.ly/3u1BrWE
    • Here’s why the former Global Head of Google Payment, former COO of Venmo have backed the €20M Seed round of this fintech https://buff.ly/2M9YoWs 


    Funding News (a very tiny collection, of what we see) 

    Follow us on Twitter to stay up to date here.

    • Berlin-based #traveltech Getyourguide fills war chest with additional 80m € loan, after a convertible of more than 100 mn € last year, looking for targets https://buff.ly/3s8x5LP 
    • Autonomous driving startup Recogni, with locations in San Jose and Munich, gets two new investors Bosch and Continental are investing together, this is new for German OEMs https://buff.ly/3k62Q52

    New VC Funds

    • #Dublin and #London-based #VC firm Frontline has raised its third seed fund of €70m to invest in #B2B #startups across #Europe looking to take on the US. https://buff.ly/3tGEGmm
    • Eurazeo gets €340 million in additional commitments to its growth strategy – tech.eu https://buff.ly/2YOrqxO
    • TCV Captial raised 4 bn US$ #VentureCapital fund, aiming for German #startups https://buff.ly/36nPBHw The VC’s past investments include Netflix and Airbnb
    • SPACs will be here pretty soon! 
      • Lakestar plans to raise 200-300 m Euros for a Special Purpose Acquisition Company (SPAC) to be listed on a German stock exchange https://buff.ly/2MI3w47 – Listing already happened by now ⇒ Frankfurt News
      • Rocket Internet plans to list a SPAC in New York, with a volume of more than 100 mn Euros https://buff.ly/3a2vT6b  
        • Technology SPAC Rocket Internet Growth Opportunities files for a $250 million IPO at #NYSE –  backed by #Berlin-based #RocketInternet https://buff.ly/2LGkeRp 


    More exits

    • Kinnevik, once an important and trusted Rocket Internet investor now wants to sell all Zalando shares worth 5,5 bn € (6.6 bn US$) https://buff.ly/2Zt6o89 
    • Shell buys Berlin-based electric car charging firm ubitricity https://buff.ly/3pZWd6A 
    • Not a direct exit, but preparing for some: 
    • German home appliance company Miele buys majority stake in #Berlin-based Kptncook, in which they have already been an investor. Kptncook offers recipes in their app https://buff.ly/3a57j4F 

    All Other News

    • MDAX listed tech company Teamviewer want to grow their revenue in the next two years to 1 bn Euros https://buff.ly/3jCfzws
    • Home24: Growth slows from +54% in Q3 to +50% in Q4 read more here: https://buff.ly/3tM6upb 
    • The 1st Unicorn by #German #investor Carsten Maschmeyer in the USA / Startup „Modern Health“ with 1.17 … https://buff.ly/3dbD6TH
    • Germany based HDI insurance (a subsidiary of Hannover Re) wants to invest more in startups – especially #cybersecurity https://buff.ly/2Nzjiyw 
    • Zalando interested in buying beauty platform Flaconi to add to their second foray in beauty https://buff.ly/3u5WPdi
    • Quandoo, the #Berlin-based platform for table reservations axes 20% of their workforce https://buff.ly/3pDnrjq 


    Stay ahead of the curve

    This Month in German Startups – January 2021

    This Month in German Startups – January 2021


    Welcome to This Month in German Startups by Startuprad.io – in a transatlantic news recording with Chris in New York City. This is the first news episode of 2021, but you can have a look at our 2020 review. 


    Today we are wrapping up January 2021 for you. There is great news in the German startup scene, from two new unicorns to a much anticipated IPO of Auto1 (will be raising at least 1.5 bn Euros), Delivery Hero goes VC and there may be Amazon TV/Radio in Germany.


     Housekeeping – Time to brag 

    Just a bit of bragging today: Listen Up! Here’s Your Guide To European Tech And Startup Podcasts In English https://buff.ly/39S3qyR 


    Top News

    We have two new unicorns

    • Mambu – Germany’s newest Fintech Unicorn offers Banking Software as SaaS https://buff.ly/3oNEHC2 – Without them, no N26. They provide the software, which enables challenger banks like them.
    • Munich-based HR scaleup Personio lands €103.5 million Series D funding and a €1.4 billion valuation https://buff.ly/35QYn0p
      • Related: Start-Up Personio Joins Circle of Unicorns – Technical University of Munich – School of Management https://buff.ly/2YgKm7W 


    Delivery Hero raises 1.2 bn in fresh capital

    • Delivery Hero raises 1.2 bn Euros (1.47 bn US$) in new funding, selling „in hours“ 9.44 mn new shares for 132 Euros each https://buff.ly/394ZFFQ
      • Related:
      • Delivery Hero starts their own Corporate Venture Fund called DX Ventures with 50 m Euros https://buff.ly/2MPUt11 


    Auto1 IPO

    • Auto1 IPO will be raising a minimum of 1.5 bn Euros (2.2 bn US$) https://buff.ly/3plC62n
    • Older articles related to this IPO – you can see the fundraising went up 500 million 
      • More details of the planned IPO of Auto1 Group emerge. They want to list in 2021 Q1 in Frankfurt in Prime Standard. Out of 1 bn € to be raised 250 m will pay back convertibles, 750 m will be invested in further growth https://buff.ly/38Hq0uz 
      • Used-car platform AUTO1 to float in Frankfurt, looking to raise 1 bn Euros from selling new shares, with a valuation of 6-8 bn Euros https://buff.ly/3bxbWWx  


    Amazon TV or Radio Station in Germany?

    Amazon has filed paperwork in Germany to get a broadcast license. The filing dates to November 2020 https://buff.ly/3bW0Mur 



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

    Keep in mind there is still an investigative committee ongoing.

    • Oliver Samwer from Rocket Internet gave a private loan to Markus Braun from Wirecard of 75 mn Euros (91 m US$), which he demanded back rather harshly, shortly before Wirecard filed for insolvency https://buff.ly/3bW2ITU
    • In Austria, an investigation against former Wirecard COO Marsalek is ongoing in potential bribery of an employee of Austrian constitution protection (like their NSA). He is supposed to have checked the solvency of porn site hosts for Mr. Marsalke https://buff.ly/39eVNDz 



    • Slack users in Germany were greeted in the new year with a big outage covering most of the first working day of the new year 2021 https://buff.ly/3972zd0 January 4th
    • Tech workers want to relocate to Germany more than any other country in the world https://buff.ly/2Jims8n 
    • Germany starts with the test of a countrywide patient file, called „E-Patientenakte.“ The users can carry around all their medical files (x-rays, reports …) on their smartphone and grant their physician access https://buff.ly/3hHb3M4
    • Berlin remains the capital of German Venture Capital in 2020. EY tracked 314 financing rounds, out of a total of 743 they found. according to their data, VC funding declined in #Germany in 2020 by 15% to 5.3 bn Euros (6.45 bn US$) https://buff.ly/3oMxaDE
    • In the most recent fintech ranking #Frankfurt is losing position No 3 to Hamburg and now only scores at No 4 https://buff.ly/3o5IeKU 



    Note: The order of news and cities is only due to the time when we discovered the news.


    • Frankfurt-based provider of high performance computing Northern Data raises 52.5 mn Euros (64 m US$) #VentureCapital  https://buff.ly/2KOccFc
    • Frankfurt-based insurtech Clark raises 85 mn US$ (69 mn Euros) #VentureCapital, with lead investor Tencent (owner of Wechat) https://buff.ly/3nCyzeq we have an interview with the CEO for you here: XXX
    • Frankfurt: Developing towards an epicenter of the German games industry – Frankfurt Valley https://buff.ly/39iZKao 


    • We interviewed the Darmstadt based robotics software startup Energy Robotics in June 2020, where they already talked about their intention to raise Venture Capital. Now they closed their 2 mn Euros VC round: Earlybird and several Business Angels like Paul Achleitner, Gerhard Roiss, Martin Klässner, and Andrej Henkler invest 2 m Euros Venture Capital in Energy Robotics https://buff.ly/3qhA43k
    • Merck KGaA snaps up German CDMO in boost to mRNA portfolio — including for Covid-19 https://buff.ly/2KauK2q 





    • New unicorn Personio is from Munich
    • Munich-based Konux raises 80 m US$ #VentureCapital from Impact Investor Sanno Capital and Athos, The Family Office of Strüngmanns (Hexal), and existing investors (e.g. Alibaba). Konux builds intelligent sensors for Industry 4.0 https://buff.ly/3idMl6i
    • Munich fintech Fidor Bank (a German fintech pioneer) is split up and sold to two bidders, Ripplewood Advisors form New York and Steria Mummert from Paris https://buff.ly/2MFo6S
    • Pepsi backs #Munich-based scented air drinks startup „Air Up“ https://buff.ly/3i9vTDT   



    • tecHHub is the new 35 m Euro Entrepreneurship Center in Hamburg to keep founders in the city. Until the project is completed the city is thinking about a makeshift container solution https://buff.ly/3hL7If3 



    • Insight Partners and existing investors invest 100 m US$ #VentureCapital in Freiburg-based Jedox, the company offers enterprise performance management software for company planning and analysis https://buff.ly/2MPUt11



    • Zurich-based Blue Horizon Ventures is a VC focused on sustainable food, now they close their first fund with 183 mn Euros (221 m US$) with more than 100 investors from 20 countries. https://buff.ly/3a7l69Z



    Food – Always a good topic to talk about

    • Dish Order: German grocery wholesaler Metro is partnering with Google to offer a competing offer to Lieferando. The clue for restaurants: There is no fee https://buff.ly/35TEEgv
    • German food giant Dr. Oetker had their own beverage delivery service Durstexpress. Then they bought Flaschenpost, doing the same reportedly for 1 bn €. Now they merge Durstexpress in Flaschenpost https://buff.ly/3qB3Jov?utm_source=linkedin

    Fintech / Finance

    New VC Funds

    • Ant Financial plans to start a fintech Venture Capital fund in Berlin  https://buff.ly/3qyAtic
    • 20 health insurer in Germany invest in Berlin-based VC Heal Capital’s 100 mn fund, to invest in health tech startups https://buff.ly/38XWmS3
    • Keep in mind the news of the Delivery Hero fund from before 


    Selection of investments

    • Digital road freight forwarder Sennder raises $160M Series, plans European expansion – TechCrunch https://buff.ly/35Eu9gR 
    • Peter Thiels‘ Valar fund joins other investors in a 21 mn Euros #VentureCapital round for credit card #fintech Moss from #Berlin. They were registered in summer 2019 and now valued at 100 mn Euro https://buff.ly/38F6rTQ 
    • Global Savings Group raises € 12 Million in their most recent financing round https://buff.ly/35aumID 


    All Other News

    • Not even half of the German employees would recommend Tesla as an employer reports German tech blog t3n. Applicants post in forums and websites about chaos and arrogance https://buff.ly/35bZqrc?utm_source=-custom-by-source-0- 
    • Which startups have footballers invested in? https://buff.ly/3hcuWdG  Including investments of Mario Götze (Frankfurt-based Qualifyze), Philipp Lahm, and Matts Hummels
    • Elliott Stake Complicates Rocket Internet’s Plan to Delist https://buff.ly/2MjL1mu
    • Berlin-based #grocery delivery service (you still buy from a supermarket) named Gorillas raises 44 m US$ #VentureCapital https://buff.ly/2IPM7F0 


    Stay ahead of the curve

    Tencent backs insurance startup Clark in $85US round. We talk to Clark’s CEO


    [A Ping-Pong table, a PlayStation or a table football] don’t help that much if the [corporate culture] is broken. 
    Christopher Oster, CEO and Co-Founder Clark


    In this interview we are talking to a previous guest. Christopher Oster is the CEO and co-founder of Frankfurt-based insurtech clark. In the past we talk to him about the appearance of Clark on Bloomberg’s list of startups to watch, back in 2017. Now they raised an 85 m US$ series C venture capital round, with noteworthy investor Tencent from China. We talk to him about the funding, the way to the funding and their plans. 


    Insurance has still not really penetrated by technology … you have unhappy customers … this is a great opportunity for a founder.
    Christopher Oster, CEO and Co-Founder Clark



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


    In 2015 there was almost no funding for insurtech startups, it all started in 2016
    Christopher Oster, CEO and Co-Founder Clark



    The Founder

    In this interview we are talking to Christopher (https://www.linkedin.com/in/dr-christopher-oster-3158802/) the CEO and co-founder of Frankfurt-based insurtech clark. In the past we talk to him about the appearance of Clark on Bloombergs list of startups to watch, back in 2017.


    You have a paper folder with your insurance policies, but nobody checks if the insurance policies still matches your life. 
    Christopher Oster, CEO and Co-Founder Clark


    The Startup


    The startup was built by a group of four friends, who to together, since they could not find the help they wanted with their insurance needs. The whole founding team is still on board, more than 5 years after the company was set up Crunchbase (https://www.crunchbase.com/organization/clark-2), company website (https://www.clark.de/).  


    An average German has six insurance policies with 4 different insurance carriers.
    Christopher Oster, CEO and Co-Founder Clark


    The Interview from 2017


    The whole blog post is here: https://www.startuprad.io/interviews/clark-de-startup-germany-bloombergs-list-50-promising-startups/

    Or just tune in to the interview here:



    For our series a, we talked to 300 VCs or so. There was a lot of uncertainty and many other companies started as well.
    Christopher Oster, CEO and Co-Founder Clark




    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


    The Interviewer

    This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:


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    This Month in German Startups – 2020 Review

    This Month in German Startups – 2020 Review


    Welcome to This Month in German Startups by Startuprad.io – in a transatlantic news recording with Chris in New York City. This is an annual tradition, where we look at the past year and forward into the coming one. Not to mention, we have been totally wrong last year with the outlook, so we are more sticking to the review this year.


    Today we bring you an overview of the German startup corona aid, an overview of the German startup scene, lists of top startup stories, a few outlooks on 2021, and a bit of wine 🙂 



    European Startup Scene 2020 – Snapshot



    8 crucial takeaways from Atomico’s recently-launched The State of European Tech 2020 report | via Silicon Canals https://buff.ly/3m6MxVg

    1. ‘Megarounds’ helped European Tech ecosystem grow
      1. While many founders found it more challenging to get funding, 2020 is on track to be a record year, with potential to surpass $41B invested, driven by more $100M+ deals.
      2. Germany is projected 23 bn US$
    2. Low capital, pivoting the product, and sales decline hit founders hardest in 2020
    3. International investment hasn’t dried up
    4. France is the only one of Europe’s three largest markets to grow in 2020. 
    5. London remains the biggest investment hub in 2020
    6. Travel sector gets notably low investments
    7. Investment in purpose-driven tech companies soars
    8. Gender and racial inequality still prevails in the European tech ecosystem


    List: 10 biggest healthtech stories of 2020 https://buff.ly/3aQlnjv 

    1. The guinea pigs of Germany’s new healthcare revolution
    2. BioNTech: the German biotech startup behind the coronavirus vaccine


    Hot or not: Where European VC funding went in 2020 by Pitchbook https://buff.ly/3nMSzf7 – Difference to Atomico ⇒ Different source for data …

    UK still has the largest VC market in total (13.7 bn $), but Germany (6.8 bn $) grew three times as fast with 10.9% vs UK’s +1.7% BUT this may also be due to Brexit. We will see what 2021 brings. According to Pitchbook France grew by an astonishing 25.4% to a total of 6.1 bn $. The other markets in Europe surpassing 1 bn $ are Sweden (3.2 bn$), Spain (1.4 bn$), and Finland (1.2 bn$).


    These are the 10 largest funding rounds of Europe in 2020 https://buff.ly/2W1KGX8 

    including AUTO1 Group, Tier Scooters and Lilium from Germany


    German Startup Scene 2020 – Snapshot 

    Deutscher Startup Monitor https://deutscherstartupmonitor.de/

    • This is an annual survey by the German startup association, this year more than 1.900 startups participated.
    • The largest share of the – participating startups – (note, there is a bias here) have been in
      • Berlin 17,7%
      • Rhein-Rhur (Cologne, Düsseldorf, …) 12.8%
      • Munich 6.5%
      • Hamburg 5.8%
    • This is one of the reasons we try to highlight so many startups from different areas, since not only every 5th startup is in Berlin. Please note that we try to have approx. 20% of our interviews from Berlin, to give these startups also a fair representation.
    • On average a startup in the survey employed 14.3 employees, up from 13.3 in 2019 and 12.3 in 2018. Despite Corona, 90% were planning to hire people. 
    • 15.9% of founders are female in this survey, slightly up from the previous years (15.7% in ‘19 and 15.1% ‘18)
    • Universities play a central role as a core for a startup cluster, especially Germany’s Technische Hochschule (technical universities aka TU) e.g. TU München, KIT, RWTH Aachen, LMU München, Universität Mannheim, Universität Bremen, WHU, TU Berlin, TU Darmstadt and FU Berlin.
    • ~ 20% of founders have a migration background
    • The most important technology is AI, more than 26.7% of startups had a SaaS business model
    • 68.8% of all startups focus on B2B, 26.5% on B2C, and 4.7% on B2G (Business to Government)
    • The most important funding sources are the founder’s own savings (used by 78.4%), government programs (used by 44.3%), and business angels (used by 31.6%). Actually, only 18.6% of participating startups have VC funding, while 42.3% want funding. DO YOU HEAR THIS INTERNATIONAL INVESTORS?
    • Startups in Berlin (39,0%), Munich (28,8%), and Hamburg (22,1%) are the most frequently funded by Venture Capital 


    Fintech Survey by Comdirect 

    Comdirect is an online bank with a small startup program. They are part of Commerzbank group and conduct an annual fintech survey in Germany. Some highlights here:

    • Volume of top 3 deals down by more than 50%
    • 12 fintechs with more than 100 m Euros funding
    • Top 20 funded fintechs get more money than the other 414 fintechs
    • The top fintech locations Berlin, Munich, Frankfurt and Hamburg raised 72% of all VC funding



    Venture Capital in Germany 

    A list of Germany’s largest Venture Capital Rounds in 2020 https://buff.ly/2JTtJM1 


    Germany’s Corona Aid for Startups

    • Germany extends it’s two billion (2,43 bn US$) startup corona aid program from spring 2020 until June 30th, 2021, since not all two billion Euros of the original program have been spent. The two billion have been equally divided into two pillars – called Pillar One and Pillar Two.
    • Pillar One (1 bn €, 1.2 bn US$) is direct aid for startups, who already have external investors. As of December 31st, 860 mn Euros (1 bn US$) have been committed by KfW, which administers all of the money. You can learn more here on their website about the program, unfortunately in German only (https://www.kfw.de/inlandsfoerderung/Unternehmen/KfW-Corona-Hilfe/Start-ups.html). KfW will also provide aid to startups and companies with a “strong relation to Germany”, which may also apply to your company? Check their website.  
    • Pillar Two (1 bn €, 1.2 bn US$) is a matching facility, were on a 1:1 basis the government matches investments. As of December 31st, 2020 only 556 million Euros ( 676 mn US$) have been committed. This program is administered by KfW, the development banks of each state (yes, 16 different ones and you have to apply at the bank in your state) and the government’s ERP fund, if you are already receiving funds from the ERP fund. Learn more here (yes, German only) https://www.kfw.de/inlandsfoerderung/Unternehmen/KfW-Corona-Hilfe/Start-ups.html. Again, you don’t need to be a German company, but only have your economic focus on Germany. Check the website if you think that may apply to you. Important: Your company must have steered clear of economic problems in 2019. 

    Here is some more information, where you can also find more details:


    How has Covid impacted Germany, Austria, and Switzerland’s startups? | Sifted https://buff.ly/3mLVgMM



    Frankfurt Rhine-Main

    • Look-back at 2020 in the Rhein Main Startup Ecosystem – Frankfurt Valley https://buff.ly/3nBVPcB 
    • Frankfurt Rhein Main attracted multiple international companies in 2020 – Frankfurt Valley https://buff.ly/3nCU7HU
    • The most important startup exists in 2020 https://buff.ly/3pXop9Y  including Emma, Bettzeit, Lizza and Mailtastic from the Rhine-Main Area
    • Rhinemain.vc (Joe’s project) tracks venture funding of any kind in the Rhine-Main Area. We tracked 28 deals, in total 894 m Euros (skewed towards large rounds with BioNTech’s fundraising due to the development of corona vaccine and placement of additional shares and convertibles). Official publication to follow soon …


    • Munich has a list of the Top 10 most important investments https://buff.ly/3bwig0k, headed by Lilium with 240 mn US$. Remember, we talked about it in the news. 


    • Had a great wrap-up: VCs holding back, Corona aid did not always help and the mood was still overall positive. Thank you for this amazing wrap-up.https://buff.ly/39rqzbe  


    2021 Outlook(s)

    We collected some outlooks, but they may be totally wrong, like last year. Only thing we can say for sure is that Germany is going to invest 10 bn € in VC funds, which in turn will invest in German startups. As said before, a few hundred millions from the corona aid for startups are also left. If we could beat corona soon, the second half of the year promises to be great for startups in Germany. 



    You guys know we like to end on a high note and sometimes take detours … 🙂 German wine consumption has risen during times of corona. On average a German has bought 20.7 Liters of wine (700 oz for the Americans here) in last year’s harvest season, roughly 2.5 bottles per month. https://www.deutscheweine.de/presse/pressemeldungen/details/news/detail/News/wein-pro-kopf-verbrauch-gestiegen/ 

    This Month in German Startups – December 2020

    This Month in German Startups – December 2020


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


    Welcome to the Chris-mas edition 🙂 


    Today we are wrapping up December 2020 for you. Please keep in mind that due to the holidays and the current lockdown in Germany we are recording this news on December 15th. All news not included here will be part of our January warp-up and there will be a 2020 review 2021outlook as well.


    Today we bring you news about the 10 bn investment package of the German government, the new DAX, Peter Thiel’s investments in Germany, Taxes, AI, and much more. 



    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 have only one thing to say: Stay safe everybody! Be grateful for what you have!

    Affiliate Links

    The current situation with the Coronavirus-related lockdown is frequently compared to severe economic recessions including, but not limited to the 2008 Financial Crisis and the Stock Market Crash of 1929. If you want to know more, consider these books below.

    • “Galbraith was asked by Arthur M. Schlesinger Jr. if he would write the definitive work on the Great Depression that he would then use as a reference source for his own intended work on Roosevelt.” (from Wikipedia) – The Great Crash 1929 by John Kenneth Galbraith https://amzn.to/3cl41sA
    • Essays on the Great Depression https://amzn.to/2VvEsht by former Fed Chairmen Ben S. Bernanke “an American economist at the Brookings Institution[3] who served two terms as Chair of the Federal Reserve, the central bank of the United States, from 2006 to 2014” (from Wikipedia)
    • From John Kenneth Galbraith as well: A Short History of Financial Euphoria https://amzn.to/2Vxngbg
    • A great book on crashes, bubbles, and economic uncertainty, in general, is “Devil Take the Hindmost: A History of Financial Speculation” by Edward Chancellor https://amzn.to/2VaUDSl