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This Month in German, Swiss, and Austrian (GSA) Startups - October 2022 Wrap-Up
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Welcome to This Month in German, Swiss, and Austrian (GSA) Startups in October 2022 by Startuprad.io with Chris from Essen, Germany, and Joe from Frankfurt. We recorded this news episode on Thursday, October 20th, 2022.
Our Highlights:
Another one of our former guests gets a Snoop Dog investment. Quick delivery startup Gorillas seems to sell itself to competitor Getir, according to Bloomberg, despite an earlier announcement they are looking for more investments. Gadget rental service Grover adds 270 m € in venture debt, getting it close to 2 billion €. Our former guest Nuri (formerly Bitwala) had to file for insolvency, now investors jump ship and the company is wound down this year. Volocopter is sued by early crowdfunding backers, Home24 has a takeover offer from a brick-and-mortar furniture retailer and BioNTech takes on cancer. Also, Munich-based travel tech Holidu raises 100 m € in a combination of 75 m equity and 25 m debt funding.
Let’s talk startups:
Our Enablers
Younium
Younium is the subscription management and billing platform for B2B SaaS. Younium brings the transformative infrastructure to manage and grow your business while you focus on the things that matter. https://www.younium.com/
Tvarit
Tvarit is an industrial ai startup, that helps companies to reduce rejections by 40%-60% in metal casting, as well as saving up to 18% on energy. Learn more here: https://www.tvarit.com/
Invest-in-Hessen
This show was made possible by Hessen Trade and Invest with their brand Invest-in-Hessen. You can learn more about them here (https://www.invest-in-hessen.com/). We also run a dedicated sub-podcast with all interviews and news in cooperation with them. Find it all here:
Tech Startups Germany - Startups and Venture Capital
Startupraven.com
The best way to identify investors and cooperation partners for early stage startups. Sign up for early access here:
Top News
Europe’s Largest Cannabis Funding To Date
Europe’s largest cannabis funding to date: Snoop Dogg-backed German cannabis startup gets $37.6M Series B led by British American Tobacco
learn more about the Entrepreneur of the Year 2021 (German Startup Awards) founder Finn Age Hänsel in our interview
Gorillas May Soon Be Bought By Getir
Delivery Startup Getir in Advanced Talks to Buy Gorillas (Bloomberg). They write:
- “Proposed deal for Gorillas would be a mix of cash and equity
- The combination would give Getir, which is backed by Mubadala Investment Co. and Sequoia Capital, scale in key European markets including the UK and Germany.
- Gorillas had previously held talks with a number of competitors about the prospects for a merger or sale of its business, people familiar with the matter said previously.
- Chief Executive Officer Kagan Sumer said earlier this year that he planned to look for new financing to recalibrate the company to work toward profitability.”
Grover Takes Home 270 m €
As consumer spending tightens, yet appetites for tech remain the same, Berlin-based Grover sees an uptick in rental interest and is now bringing its debt
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