Startupnews KW 40 - 2024

Successful launch of Gründerwasen. DeafTawk and Vochlea win the Global MediaTech Pitch Day 2024. RETN and IPC strengthen network connections between Europe and Asia. Planqc opens company headquarters and starts building quantum computers. Lemon.markets launches custody solutions for business customers. Ecoplanet wins the European Pitch Contest 2024 at Bits & Pretzels. AAX Biotech secures SEK 7 million. DeepOpinion receives 11 million euros. Bayern Kapital invests in SPiNE. TGV invests USD 2 million in art platform Printler.

Gründerwasen 2024: Successful networking of the startup scene in the southwest

At Gründerwasen 2024, organized by Startup Stuttgart e.V., around 600 participants from the regional and national startup scene gathered to network and promote exchange. The event, supported by Gründerbank Stuttgart, was held under the motto "From ego systems to a shared ecosystem". After an opening speech by Johannes Ellenberg and words of welcome from representatives of the city of Stuttgart and the Gründerbank, the keynote speech by Johannes Lutz von Duschbroken provided inspiration. The highlight of the evening was the close cooperation of 24 partners from the startup scene, which made the event a complete success and laid the foundation for a strong regional startup ecosystem in Stuttgart.

Cooperations and partnerships

Lemon.markets launches custody solutions for business customers with Holvi as its first partner

The Berlin-based fintech lemon.markets has expanded its brokerage-as-a-service platform to include corporate custody accounts and now offers business customers, including Holvi, a digital investment and treasury solution. Holvi, a banking service for the self-employed and SMEs, will in future provide its customers in Germany with corporate custody accounts via lemon.markets. This marks the second banking partner for lemon.markets within six months, following the partnership with Tomorrow. Holvi plans to expand the offering to other European markets in the medium term. The partnership enables fully digital processing of funds, allowing SMEs to manage their liquidity flexibly and with low risk. We already reported 2022 about a successful €15 million round.

RETN and IPC strengthen network connections between Europe and Asia

RETN and IPC Systems have implemented a new 10G network connection between Frankfurt and Hong Kong to improve connectivity for financial market participants. The connection, which utilizes RETN's TRANSKZ super highway, enables low latency for mission-critical applications, particularly in high-frequency trading. Both companies emphasize the importance of robust, redundant networks to ensure operational integrity in an increasingly disrupted global network environment. This initiative promotes the efficiency and reliability of financial markets in Europe and Asia.

Financing rounds

AAX Biotech secures SEK 7 million

The Swedish biotech company AAX Biotech AB has received SEK 7 million in a financing round from new and existing investors. The capital is intended to support the automation of the Seqitope™ platform, the expansion of the project portfolio and the further development of the antibody therapy technologies Seqitope™ and Opti-mAb™. Investors include Life Science Invest (LSI Epsilon) and Karolinska Institutet Holding. The company also plans to expand its laboratory and business development departments to provide innovative solutions to medical challenges.

DeepOpinion receives 11 million euros

The Innsbruck-based startup DeepOpinion has received 11 million euros in a Series A financing round to further develop its AI platform for the automation of complex business processes and to expand internationally. With investors such as Red River West and Alpha Intelligence Capital, DeepOpinion uses AI agents to efficiently process unstructured data, especially in the insurance industry. This technology drastically shortens the processing of claims, providing faster financial assistance to victims. DeepOpinion aims to revolutionize the global enterprise automation market in a sustainable way.

Bayern Kapital invests in SPiNE

Bayern Kapital participates in the pre-seed financing round of Munich-based SPiNE GmbH, a provider of energy management software that aims to digitize the energy transition. The seven-figure financing round, in which VERBUND X Ventures and other investors are also participating, will support the expansion of SPiNE's team. With its platform for controlling consumption devices such as wallboxes and heat pumps, SPiNE enables private households and companies to use electricity efficiently and reduce costs, while energy suppliers ensure grid stability.

TGV invests USD 2 million in art platform Printler

The TGV 4 Plus Fund is investing USD 2 million in the Swedish art platform Printler to support its global expansion and the use of artificial intelligence (AI). Printler, which connects independent artists with buyers, recorded 73% growth in 2024 and is now planning to enter the market outside Europe. With the additional funding, the company plans to further develop its AI-powered tools to improve personalized art recommendations and optimize the customer experience. Revenues are estimated at USD 7 million for 2024 and Printler has been cash flow positive since mid-2023.

Mstack Chemicals secures 40 million dollars for global expansion

US-based Mstack Chemicals has raised $40 million in a Series A funding round to expand its operations in the Middle East, Latin America and Asia. The company plans to open R&D labs to develop proprietary molecules and formulations in the next 12 to 18 months. Mstack, founded in 2022, provides a platform for cross-border sourcing of specialty chemicals and aims to revolutionize the supply chains for these products worldwide. Backed by investors such as Lightspeed and Alpha Wave, the fresh capital will also be invested in research and development to develop new products in areas such as agrochemicals and pharmaceuticals, while strengthening its presence in existing markets.

Voliro successful 12 million dollar Series A

The Zurich-based company Voliro, which specializes in mobile flying robots, has received 12 million dollars in a Series A financing round led by Cherry Ventures. With the new financing, Voliro intends to further develop its drone technology for precise inspection and maintenance work and expand globally. The technology is already being used by major companies such as Chevron, Holcim and Acuren to inspect hard-to-reach industrial facilities more safely and efficiently.

Awards

DeafTawk and Vochlea win the Global MediaTech Pitch Day 2024

At the Global MediaTech Pitch Day 2024, DeafTawk from Denmark and Vochlea from the UK convinced the jury and secured victory out of more than 400 applicants. DeafTawk impressed with a platform that enables real-time translations into sign language, while Vochlea is revolutionizing music creation through voice control with its "Dubler" technology. Both start-ups were awarded 10,000 euros each, and talks have begun about possible investments of up to one million euros. The competition, which was organized by Raw Ventures, demonstrates the potential for pioneering media technologies.

Ecoplanet wins the European Pitch Contest 2024 at Bits & Pretzels

Munich-based startup ecoplanet was crowned the winner of the European Pitch Contest 2024 on October 1, 2024 on the main stage of the Bits & Pretzels startup festival. The competition attracted entries from over 30 countries. The European Pitch Contest, which is regarded as a springboard for European start-ups, reached its climax with the award ceremony in front of a high-caliber jury, including prominent investors such as Andreas Etten and Tina Dreimann. Ecoplanet, a B2B energy software company, impressed the jury with its innovative business model. We reported here and here about the startup's successful rounds.

Other news

Planqc opens company headquarters in Garching and starts building quantum computers

The quantum computing start-up planqc has opened a new 1,400 m² company headquarters in Garching near Munich and started building powerful quantum computers. In his opening speech, Bavaria's Minister President Markus Söder emphasized the importance of quantum computing for the state's competitiveness and highlighted the support provided by Hightech Agenda Bayern. The event offered guests insights into the innovative technology, including a 3D model of the quantum computer. Planqc is currently developing several quantum systems, including a 1,000-qubit system for the Leibniz Supercomputing Center and a 100-qubit system for the German Aerospace Center.