Startupnews week 39 - 2024

EGYM receives 180 million euros and becomes a unicorn. Roundtable brings investment solution for private markets to Germany. VoltStorage appoints Volker Schulte as new CEO. BIOVOX wins the Frankfurt Spring 2024. Stefan Thiel is the new Head of Sales at Rencore. CARBIOS and Selenis agree partnership for sustainable PETG. Senvo receives 2.5 million euros. "Move Collective" accelerator with 13.2 million dollars in seed capital. Enginsight receives 6 million euros to strengthen SMEs against cyber attacks.

EGYM receives 180 million euros and becomes a unicorn

EGYM, a provider in the fitness and health industry, has received 180 million euros in a Series G financing round at a pre-money valuation of over one billion euros. The investors are L Catterton and Meritech Capital. The funds will be used to expand EGYM's corporate fitness network and innovative solutions. EGYM combines AI-driven fitness equipment and software solutions to promote preventive health programs. High-Tech Gründerfonds (HTGF), which has supported EGYM since 2011, considers EGYM to be one of its most successful portfolio companies.

Personnel

VoltStorage appoints Volker Schulte as new CEO

VoltStorage, the developer of the Iron Salt Battery, has appointed Volker Schulte as its new CEO. With extensive international experience in the energy sector, Schulte will lead the company through a crucial growth phase and drive the commercialization of the Iron Salt Battery. The previous CEO and co-founder Jakob Bitner, who has played a key role in shaping the company since 2016, will remain involved. Schulte, who has worked at Cellcube and GE Energy, among others, will focus on expanding VoltStorage's global reach.

Stefan Thiel is the new Head of Sales at Rencore

Rencore, a provider of cloud collaboration software based in Munich, has appointed Stefan Thiel as its new Vice President Sales. In his new role, Thiel will be responsible for global direct and partner sales and will lead Rencore into its next phase of growth. Thiel brings extensive experience from previous positions at companies such as Cisco, Oracle and Okta. His focus at Rencore will be on scaling B2B SaaS sales and strengthening market leadership in cloud governance. Managing Director Matthias Einig emphasizes Thiel's strategic expertise as an important factor for the future development of the company.

Further financing rounds

Enginsight receives 6 million euros to strengthen SMEs against cyber attacks

The German cybersecurity startup Enginsight has received 6 million euros in a new financing round. The round was led by UVC Partners, with co-investors including Carsten Maschmeyer and his seed+speed fund. The capital will be used to expand marketing and sales activities in the DACH region and to drive international expansion. The aim is to better protect small and medium-sized enterprises (SMEs), which are particularly vulnerable to cyber attacks. Enginsight offers an all-in-one platform that integrates attack detection, monitoring and automated response.

Senvo receives 2.5 million euros to optimize logistics processes

Berlin-based platform Senvo, which specializes in the automation of freight invoice verification, has successfully closed a financing round of 2.5 million euros. The round was led by Defy.vc and Two Ravens, with participation from Fund F. The fresh capital will be used for product development and to further advance the automation of logistics processes. Since its launch in December 2023, Senvo has processed over 7.6 million shipments and works with renowned companies such as Schneider Electric and Autodoc. The new financing is intended to further accelerate the growth and optimization of the platform.

Mews receives 100 million US dollars in funding

Mews, a cloud platform for the hospitality industry, has received 100 million US dollars in financing from Vista Credit Partners. This investment will further fuel Mews' growth through acquisitions to establish the company as a market leader. Mews Ventures has already acquired nine companies and plans to continue investing in technology and teams to drive digital transformation in the industry. Mews has recently experienced strong growth and expansion of its customer base, particularly in North America. The platform automates key operational processes and improves the guest experience. We already reported in spring spring 2024 about a 110 million US dollar round for Mews.

Movement Labs launches "Move Collective" accelerator with 13.2 million dollars in seed capital

Movement Labs has launched the "Move Collective" accelerator program to promote innovative blockchain projects. The program supports developers in the Movement ecosystem and offers mentoring, networking and funding opportunities. Five partner projects supported by the program, including Lync and HelixLabs, have raised a combined $13.2 million in seed funding. In addition, the Web3Port Foundation raised 10 million dollars for its Movement Ecosystem Fund to promote DeFi and gaming applications on the network. Movement Labs develops secure and scalable blockchain applications based on the Move programming language.

Roundtable brings community-based investment solution for private markets to Germany

The digital investment platform Roundtable, which simplifies investments in private markets, is expanding to Germany with the support of prominent business angels. After successes in France and Belgium, the company, founded in 2022, is aiming for further growth in Europe. Roundtable offers investors access to private equity, venture capital and startup investments through a community-based solution. With innovative technologies, the platform removes hurdles such as administrative and legal complexities. Supporters of the German expansion include investors such as Mario Götze and Jens Lapinski.

Awards

BIOVOX wins the Frankfurt Spring 2024 award

Darmstadt-based startup BIOVOX has won the Frankfurter Sprungfeder 2024, one of the most highly endowed startup prizes in Germany. Founders Carmen Rommel, Julian Lotz and Vinzenz Nienhaus came out on top from over 150 applicants with their innovative "bioplastic" technology, which is fully degradable and recyclable and reduces CO2 emissions by up to 85%, particularly in the healthcare sector. The award, presented by the Marketing Club Frankfurt, is endowed with a prize package worth around EUR 100,000.

Applications open for the Saxon State Prize for Innovation 2025

The Saxon State Prize for Innovation 2025 was launched at the futureSAX Innovation Forum in Plauen. Companies have until March 10, 2025 to apply in three categories: product/service innovation, process/business model innovation and innovative corporate culture. The competition recognizes Saxon companies that have successfully implemented innovations in the last five years. In addition to prize money of 50,000 euros, the winners benefit from access to networks and PR measures. Saxony's Minister of Economic Affairs, Martin Dulig, emphasized the importance of innovation for the future of the Free State.

Partnerships

CARBIOS and Selenis agree partnership for sustainable PETG

CARBIOS and Selenis have announced a strategic partnership for the production of glycol-modified PET (PETG) for the cosmetics and healthcare industries. The companies will combine CARBIOS' enzymatic biorecycling technology with Selenis' polymerization expertise to produce PETG from recycled PET waste. This material, which is equivalent to fossil-based raw materials, is designed to meet both sustainability standards and the high demands of the cosmetics and healthcare industries. The partnership is based on a two-year pilot project and aims to develop environmentally friendly packaging solutions for Europe and the USA.