Berlin Start-Up Leads the Way as VC Investment Slows
It’s a global trend that has come to Germany as well. Headline-making high-flyer investment deals for fledgling companies became considerably rarer over the past two months. Nonetheless, one Berlin start-up still managed to rack-up nine figures in new capital. Here’s our bi-monthly overview.
Grover, electronics rentals, Berlin, EUR 270 million: There seems to be no stopping Grover from the German capital. After booking a EUR 300 million round C back in April, the young company raised an addition EUR 270 million to become a unicorn. The company specializes in rental electronic devices and appliances – an idea with considerable appeal in tough economic times. Photo © Grover
Morpheus Space, aerospace, Dresden, USD 28 million: Dresden isn’t a city you hear about often when the topic is German aerospace, but Morpheus from the Saxon capital put itself on the map with a more-than-respectable series A round. Investors were convinced by Morpheus’ modular, electric propulsion systems for micro satellites to the tune of USD 28 million. Photo © Morpheus Space
Patronus, software, Berlin, EUR 27 million: With populations ageing in many countries, the so-called “silver economy” looks to be a good bet. Investors at least took a shine to Berlin’s Patronus, which makes software that converts smart watches into senior-specific health tools. The result: EUR 27 million in Series A funding. Photo © Patronus
Immerok, deep tech, Berlin, EUR 17 million: Something new on the horizon in the German capital. Immerok specializes in real time data streaming analysis for the popular Apache Flink cloud service. The company has only been around since May, so EUR 17 million in seed funding is an impressive start. Photo © Immerok
Candis, fintech, Berlin, EUR 15.9 million: Taking care of business is Candis’ specialty. The start-up from the German capital uses AI to help SMEs automate things like invoice receipt, data entry, invoice approval, and data export. Nearly EUR 16 million in fresh capital will allow Candis to expand its product range and introduce corporate credit cards for its clients. Photo © Candis
Sources: Handelsblatt, businessinsider.de, deutsche-startups.de