Five Big German Start-Up Financing Deals Defy VC Dip
After months and months of new records, venture capital investment worldwide shows signs of cooling off. Nonetheless, some start-ups in Germany continue to pull in the big bucks, led be a red-hot insurtech from Berlin.
Wefox, Berlin, insurtech, EUR 400 million: This fledgling company continued to make headlines after recording what it claimed was the world’s largest Round C funding earlier in the year. EUR 400 million in new Series D funding took Wefox’s total worth to EUR 4.5 billion, making it the most valuable insurtech in the world. The company expects do EUR 600 million in turnover this year. Photo: The founders of Wefox, Fabian Wesemann, Julian Teicke and Dario Fazlic © Wefox
Everdrop, Munich, consumer goods, EUR 80 million: Newcomer Everdrop offers a range of ecological and vegan household, bath and body products, packaged without plastics and using very few chemicals. Customers can even subscribe. The idea ticks a lot of political and lifestyle boxes, and investors rewarded the company with EUR 80 million. Photo: The founders of Everdrop, Chris Becker and David Löwe © Everdrop
Omio, Berlin, traveltech, EUR 76 million: The past few years have been pretty rough on the travel industry, but meta search engine and booking platform Omio is still winning over investors and partners. The company took in EUR 76 million and has now signed a cooperation agreement with Uber. Photo: The founder of Omio, Narem Shaan © Omio
Workmotion, Berlin, HR, EUR 50 million: With many companies in the West struggling to find sufficient personal, Workmotion has an idea whose time has come. The HR platform promises to help business recruit employees from abroad. Investors have gotten on board to the tune of EUR 50 million. Photo: The founders of Workmotion, Carsten Lebtig, Felix Steffens and Karim Zaghlou © Workmotion
Gunzilla Games, Frankfurt, gaming, EUR 46 million: The video gaming industry is going ballistic in Germany, and this AAA game developer from the financial metropolis Frankfurt is reaping the rewards. EUR 46 million in fresh capital will allow Gunzilla to build out their new platform, GunZ, and, as their website puts it, “empower players by granting them complete ownership over their in-game possessions.” Photo: Part of the team of Gunzilla Games © Gunzilla Games
Sources: Handelsblatt, businessinsider.de, deutsche-startups.de