Startupnews week 12 - 2024

Frontline Ventures invests 200 million dollars. Science4Life awards prizes for innovations in health and energy. Suitcase: New solution for termination conflicts. N26 launches joint accounts in Germany. Suitcase: New solution for termination conflicts. b2venture welcomes Dominik Perisa. Start2 launches Cashwalk. SevenVentures Pitch Day 2024: Media services worth €3 million. Culture Amp's acquisition of Orgnostic.

Frontline Ventures invests 200 million dollars in B2B software companies

Frontline Ventures, a venture capital firm, has announced that it will invest an additional $200 million in two funds to help B2B software companies enter the transatlantic market. The funds, Frontline Growth and Frontline Seed, will support the expansion of B2B software companies in North America and Europe. Over the past ten years, Frontline has already established a presence in both regions and has invested in more than 80 European startups, over 70% of which have received Series A funding. The investment underlines Frontline's commitment to supporting founders on their journey to IPO and provides access to an extensive network of resources and strategic partnerships in addition to financial support.

Science4Life awards prizes for innovations in health and energy

The Science4Life concept awards focus on digital health solutions, diagnostics and innovations in the energy sector. The event recognizes the best teams in the fields of material and process innovations as well as therapeutic approaches. State Secretary Umut Sönmez emphasizes the importance of start-ups for progress and praises their role as drivers of change. The ten best teams in the concept phase of the Science4Life Venture Cup and the five best teams in the Science4Life Energy Cup were given the opportunity to hone their business concepts in individual expert coaching sessions and workshops as part of the Academy Days. Prize money was also awarded to the five best teams from life sciences and chemistry and the three best teams from the energy sector. The winning teams will be given the opportunity to further develop their business concepts and will be supported in individual coaching sessions. The business plan phase marks the start of the final stage of the competition, in which start-ups can submit their plans to successfully launch their business. Startups can now register to take part at www.science4life.de and submit their business plans online in the form of a read deck by April 15, 2024.

Suitcase: New solution for termination conflicts

The Munich-based start-up Suitcase offers an alternative solution for termination disputes that avoids lengthy and cost-intensive court proceedings. Supported by the Bavarian Ministry of Justice and UnternehmerTUM, the company enables a process that settles disputes over severance pay in just a few days and costs up to 80% less. Confidential bids enable employees and employers to reach agreements quickly and with legal certainty, without having to involve lawyers. With the possible use of artificial intelligence and a stable financial and legal basis, Suitcase has the potential to play a significant role in the German legal market.

FoodLabs presents new brand identity and strategy

FoodLabs, a Berlin-based early-stage VC investor and venture studio focused on food, health and climate, has announced a new brand identity and expanded strategic direction. The revised brand will emphasize the company's role as a partner for innovative entrepreneurs. FoodLabs supports early-stage startups in various sectors with capital and strategic support and offers a venture studio to help founders realize their ideas. Since its founding in 2015, the company has become a leading investor and now also invests in companies outside of food technology that are committed to planetary and human health.

b2venture welcomes Dominik Perisa as new partner and COO

b2venture has appointed Dominik Perisa as new Partner and Chief Operating Officer. Perisa brings experience as an investor and VC manager from companies such as Rivus Capital and Cherry Ventures. His addition strengthens b2venture's growth plans, in particular supporting its growing portfolio of unicorn tech startups and business angel network. He will lead the early stage fund team and direct investments in Berlin. Perisa is looking forward to supporting some of the most promising startups and working with Europe's leading angel community.

Start2 launches Cashwalk: Application phase open

The matchmaking event Cashwalk, organized by Start2, enables startups and investors to network. The application phase for startups and registration for investors for the events on May 14 in Munich and June 6 in Berlin has begun. At Cashwalk, selected founders will present their companies in live pitches, followed by networking and one-on-one meetings to initiate potential investments. Over 70 previous participants have raised an average of 2.3 million euros per financing round. Partners such as Coparion, HV Capital, High-Tech Gründerfonds and Bayern Kapital support the event. A jury will select the best startup from each industry cluster, which will receive additional support from the Start2 ecosystem. The Start2 Group has acted as a global partner for growth-oriented companies, investors and governments since its foundation in 2008.

SevenVentures Pitch Day 2024: Media performance worth 3 million euros and TV spot budget

SevenVentures Pitch Day returns in 2024, offering young companies the opportunity to present their business models in front of a live audience and a panel of experts for the chance to win a media package worth EUR 3 million and a TV spot budget. The final show will take place in cooperation with the New Com Summit on October 15 in Munich and will be streamed live on Joyn for the first time. The event is considered one of the most important startup competitions in the world and is aimed at innovative B2C companies that want to scale their business quickly. SevenVentures Managing Director Florian Weber and presenter Steven Gätjen will lead through the pitches and award ceremony, while the finale of the event will be the highlight of the first conference day of the New Com Summit.

smapOne appoints Andreas Ermantraut as new CFO

The German company smapOne, which specializes in no-code solutions, has recorded remarkable growth of 270 percent over the past four years. To steer the financial direction and support strategic planning, Andreas Ermantraut has been appointed as the new CFO. With more than 20 years of experience in finance, Ermantraut will work closely with the management team to ensure the long-term growth of the company. The appointment comes at a time when smapOne is also performing well in terms of business development and was recently recognized with the Deloitte Technology Fast 50 Award. This development reflects smapOne's ambition to drive digital transformation and take a leading role in the no-code movement in the DACH region.

Culture Amp's acquisition of Orgnostic

Culture Amp has announced the acquisition of people analytics platform Orgnostic to strengthen its position as an employee experience platform. This acquisition is designed to help Culture Amp make informed decisions and impact business success by providing its clients with actionable insights from rich HR data sources. The integration of Orgnostic will enable Culture Amp to process vast amounts of enterprise data and provide their clients with insights into various aspects of the employee experience.

PeakAvenue acquires Isograph

PeakAvenue has strengthened its position in the engineering and quality management software market with the acquisition of Isograph. Isograph, a UK-based provider of safety engineering software, expands PeakAvenue's international business and consolidates its market leadership in this sector. The collaboration will enable the two companies to complement each other's product offerings, strengthen their presence in continental Europe and improve the integration of their software into the PeakAvenue Cloud Platform. The combined expertise aims to provide web-based solutions across the product lifecycle, particularly in highly regulated industries such as aerospace and medical technology.

N26 launches joint accounts in Germany

German bank N26 has announced the launch of joint accounts designed to allow couples to manage their finances together. This will make it easier to budget, monitor joint spending and achieve joint financial goals. The function is available free of charge to all private customers in Germany, regardless of the account model selected. In contrast to the existing Shared Spaces feature, the new N26 joint account allows both participants to be equal account holders. Customers can open the joint account directly in the N26 app and have the option to link it to personal virtual or physical cards for convenient banking without the need for additional cards. N26 plans to expand the availability of joint accounts to other European markets in the coming months.

Catenda completes majority investment with GRO

Catenda AS has received a majority investment from GRO to drive growth and accelerate the digitalization of the global construction industry. The company provides a platform for collaboration and data exchange in construction projects that promotes transparency and supports data-driven decision making. The partnership with GRO will strengthen Catenda's position in the market and further develop its innovative platform. Catenda aims to make the construction industry more efficient and resource efficient by promoting open standards and sustainable development.

Terra Quantum and MegazoneCloud

Terra Quantum AG, a quantum computing company based in Germany and Switzerland, has entered into a strategic partnership with MegazoneCloud Corporation, a cloud service provider from South Korea. This partnership aims to drive quantum innovation in Asia. In light of South Korea's goal to improve its quantum technology by 2035 and recent investments in the global quantum economy, the collaboration aims to produce joint technological solutions for various industries such as finance, manufacturing, weather forecasting and smart city projects. By combining their expertise, Terra Quantum and MegazoneCloud aim to facilitate access to quantum computing and create value for organizations in South Korea and Asia.

Second closing: hey circle increases funding amount to 2 million euros

Munich-based start-up hey circle increases its funding to a total of 2 million euros, with an increase of 500,000 euros three months after the first seed funding round. Existing investors such as Capacura and Gateway as well as new business angels are participating in the current financing. The funds will be used to expand the IT and sales team and to scale up production. The company plans to further develop its product portfolio and improve its eco-balance by using recycled materials. Interested companies can find out more about the offer on the hey circle website and contact a consultant.