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. Here’s a round-up of seven of the bigger ones.
Investors / Startups
In 2021, the US-Portuguese drone infrastructure company EVA was looking to expand its business in the fast-growing, future-oriented sector of unmanned aerial vehicle (UAV) sector. Germany Trade & Invest helped the young firm set up shop in Germany – in the town of Wildau in the state of Brandenburg near Berlin. We asked EVA spokesperson Isabel Nacke about the company’s new home.
Berlin food delivery start-up Gorillas is the latest fledgling firm to join the coveted club of companies valued at USD 1 billion or more.
Amidst all the disruptions caused last year by the coronavirus pandemic, Germany’s 100 largest tech start-ups took in an additional USD 3.7 billion in financing – or 37 percent of their total VC investments. That’s according to business consultants Ernst & Young.
Berlin vertical agricultural start-up Infarm has announced the successful conclusion of a USD 100 million round of funding. This impressive cash injection comes on top of the USD 170 million the company raised last September.
Innovative young air taxi developer Volocopter has received a massive influx of capital from investors including German rail company Deutsche Bahn, Intel, Daimler and Geely as well as Continental and Blackrock.
Berlin start-up MonitorFish has won the 2020 Change Award of the European Innovation and Technology Institute.
Germany’s 12 digital hubs have continued to offer valuable resources to fledgling businesses during the pandemic. Workshops and networking events now take place as video conferences, offering foreign firms a unique opportunity to take part remotely.
Buying footwear over the Internet normally involves a certain amount of risk. Cologne start-up OneFID solves developed a digital app that allows buyers to scan their feet, so that the shoes they order is guaranteed not to pinch their toes or chafe their heels.
According to a raft of prognoses, German skies will become increasingly populated by unmanned aircraft – drones – in the years to come. That raises questions of how to ensure safety and practicality, so that drones reach their destinations unharmed.