Big Deals Galore for German-Based Start-Ups

April 2020

Due to uncertainty amidst the coronavirus pandemic in 2020, the size of financing deals for start-ups in Germany decreased somewhat. But venture capital investments have come roaring back, with a number of young companies announcing impressive hauls, particularly from foreign investors.

“Since the summer of 2020, the scene in Germany and in Berlin is on the road to setting new records,” Thomas Prüver, expert for new companies at business consultants Ernst and Young, told the Berliner Zeitung newspaper.

Here’s a round-up of seven of the bigger financing hauls:

Staffbase, Chemnitz, business software, USD 145 million: The eastern German city of Chemnitz doesn’t appear on start-up lists that often, but this was a doozy of a financing round. VC General Atlantic alone putting a cool 100 million into Staffbase, which specializes in international communications solutions for businesses. © Staffbase

Spryker, Berlin, e-commerce, USD 130 million: This up-and-comer from German capital produces templates for online retailers. Silicon Valley equity firm TCV was impressed enough to fork over 130 million dollars, which Spryker intends to use in part to fund its expansion in the United States. © Spryker

Camunda, Berlin, business software, EUR 80 million: Berlin’s Camunda develops solutions that help firms automatize and synchronize processes. Five of the ten largest US banks are already customers. Insight Partners led the 80-million-euro financing round. © Camunda

Grover, Berlin, technology rentals, EUR 60 million: This young company from the German capital rents out electronic devices such as laptops, smartwatches, video game consoles and mobile phones. Founded six years ago, Grover says that it was in the black last year, with revenue of EZR 37 million and 160 employees. © Grover

Bryter, Berlin, software, EUR 55.7: Berlin IT start-up Bryter has only been around for two years, but it’s already valued at EUR 350 million. The no-code service automation company has more than 100 clients world-wide and intends to use the fresh influx of capital to expand its marketing and distribution team. © Bryter

Flink, Berlin, food, USD 50 million: Grocery delivery service Flink, whose name means quick in German, was even faster than Bryter, landing a major financing round after only six weeks of existence. The firm runs ten so-called dark stores in cities like Berlin, Hamburg, Munich, Nuremberg, Düsseldorf and Cologne and has expanded into France and the Netherlands. © Flink

Recogni, San José, USA and Munich, autonomous driving, USD 48.9 million: The latest round of financing for international start-up Recogni marked the first time that automotive supplies Continental and Bosch teamed up for such an investment. A lateral mover from the semiconductor and Internet sector, Recogni develops self-driving technology that has reportedly attracted the interest of heavyweight Tesla. © Recogni