News week 51 - 2023

SpinLab - The HHL Accelerator and LBBW announce strategic partnership. aedifion achieves ISO 27001 certification for comprehensive information security and data protection. Estonian e-residency program: Over 200 million euros contribution to the national budget achieved. Swytch Technology achieves annual turnover of over 15 million euros.

Estonian e-residency program: over 200 million euro contribution to the national budget achieved

After nine years of existence, the Estonian e-Residency program has reached a significant milestone by contributing over 200 million euros to the national budget. This program provides foreigners with secure access to the country's e-services. With 108,000 people granted e-Residency status and over 28,000 companies established, it has proven to be a success. Germany hosts the most e-Residents outside Estonia, with more than 7,000 people who have already established over 2,000 companies. The program is seen as a profitable export, providing a fully digital experience for entrepreneurs worldwide. Officials are now considering taking identity verification to a higher level by testing innovative solutions to benefit not only e-residents but also Estonian citizens. These new approaches are designed to ensure security and convenience without compromise. Interested parties can find more information on the official website of the program: https://www.e-resident.gov.ee

Swytch Technology achieves annual turnover of over 15 million euros

The London-based company Swytch Technology had an extremely successful year, despite the general cost increases. With an annual turnover of over 15 million euros, the company was able to almost maintain its turnover. Swytch mainly serves the US and UK markets, but is experiencing growing demand in continental Europe. With an average of 2,000 retrofit systems sold per month worldwide and several thousand users in German-speaking countries, the company is experiencing solid customer demand. Financially, Swytch convinced investors and closed a successful financing round of around 3.9 million euros. These funds will be used to improve system availability and build up a dealer network in the DACH region. In addition, the current Swytch kit received awards such as the Taipei Cycle d&i Award Gold and the Red Dot Award this year. Next year, the company plans to launch a new system, Swytch GO, with a price tag of less than 500 euros. A presence at the Eurobike 2024 bicycle trade fair is also planned. Founder and Managing Director Oliver Montague expressed his satisfaction with the developments and is proud of the team and optimistic for the coming year.

Thermondo holds its own in a difficult year for the heat pump industry

In 2023, the heat pump industry experienced a period of turbulence due to protracted discussions about the upcoming Heating Act (GEG) and uncertainties regarding subsidy programs for heating replacements, which led to considerable uncertainty among consumers. This was reflected in an over 70 percent slump in demand for heat pumps compared to the previous year. Despite these challenges, Thermondo was able to maintain its position as a leading company in heat pump installation and secure a market share of 3%. With sales growth of 37% to 104 million euros and over 3,000 devices installed by October 2023, the company consolidated its position. Although the company experienced a significant slump, it is optimistic that the market will stabilize and expects a strong increase in demand with the implementation of new subsidies in 2024.

SpinLab - The HHL Accelerator and LBBW announce strategic partnership

SpinLab - The HHL Accelerator and Landesbank Baden-Württemberg (LBBW) have announced a strategic partnership. This alliance combines the financial expertise of LBBW with the innovative power of SpinLab. LBBW, one of Germany's leading financial institutions with total assets of EUR 324 billion and a presence in 15 countries, is contributing its experience in advising SMEs and its venture capital company, LBBW Venture, to the collaboration. The cooperation aims to promote innovation and enables LBBW to explore new business models. At the same time, SpinLab benefits from LBBW's network and expertise, creating synergies for both sides. SpinLab Managing Director Marcus Haberstroh is delighted with this partnership, which offers potential for supporting start-ups and further developing the innovation ecosystem.

aedifion achieves ISO 27001 certification for greater information security and data protection

aedifion GmbH, a provider of software solutions in the German building management sector, has been awarded ISO/IEC 27001 certification. This certification confirms that aedifion has implemented an information security management system in all areas of the company to ensure the confidentiality, integrity and availability of information. This measure reflects aedifion's commitment to the protection of sensitive data and strengthens the company's position as a trustworthy partner. Annual monitoring audits are carried out to ensure continuity of protection. Aedifion is part of the BSI's Alliance for Cyber Security to support Germany's cyber resilience. The certification marks aedifion's commitment to making buildings more efficient and transparent by reducing energy consumption, CO2 emissions and operating costs by up to 40%, benefiting owners, operators and tenants.

"xxllnc strengthens data protection solutions through DataMask acquisition

Dutch GovTech software provider xxllnc announced today that it has acquired DataMask, a company specializing in document anonymization solutions. This acquisition marks the twelfth acquisition since 2020 and will enable xxllnc to expand its offering to local governments and provide enhanced support in the area of data protection. DataMask brings not only innovative software solutions for anonymizing sensitive data, but also legal expertise. The integration of this technology aims to make the ICT infrastructure of municipalities and governments more flexible and intelligent. Michel Veenhuis, CEO of xxllnc, emphasized the importance of this collaboration for strengthening the product portfolio.