Startupnews week 44 - 2024

GreenTech Flower secures €45 million. Infraspeak receives €18 million. Dataciders takes over ROITI. ROCKWOOL acquires Wetherby Building Systems Ltd. Innomost appoints Tiina Bensky as CEO. thermondo appoints Josef Gatzek as new CFO. VEAN TATTOO launches accelerator program for EU start-ups. First electric hydrofoil ferry. Kamux acquires Webcars Logistics AB. eKidz launches AI-supported learning system. Wobby secures 1.1 million euros in seed funding. Evaneos and RailEurope with rail partnership. Lucanet takes over Causal. Start of phase 1 of the Munich Business Plan Competition.

Personnel

Innomost appoints Tiina Bensky as CEO

Finnish company Innomost has appointed Tiina Bensky as its new CEO to drive the international expansion of its sustainable birch bark ingredients. Bensky, who has extensive experience at leading cosmetics brands such as L'Oréal and Lumene, will lead the production and marketing of the bio-based alternatives to fossil raw materials for the cosmetics, adhesives and colorants industries. The ingredients derived from Nordic birch bark offer environmentally friendly solutions and replace harmful ingredients such as titanium dioxide. With the expansion of production and growing interest from global cosmetic brands, Innomost is focusing on a broad application of sustainable materials in consumer and industrial goods.

thermondo appoints Josef Gatzek as new CFO

Heat pump installer thermondo is strengthening its management team: On November 1, 2024, Josef Gatzek will take over the position of Chief Financial Officer (CFO) and also become a member of the Management Board. Gatzek succeeds Ildiko Witte, who has restructured the finance department since February 2023 and is now leaving the company at her own request. CEO Felix Plog praised Witte for her work in a challenging phase and emphasized Gatzek's extensive experience as CFO in leading digital companies such as PayPal and Audible. Gatzek wants to position thermondo as a central point of contact for the energy transition in single-family homes and continue to drive profitable growth.

Financing rounds

Infraspeak receives 18 million euros to further develop facility management

Portuguese startup Infraspeak has closed an €18 million Series B funding round to expand its collaborative facility management platform. The heavily oversubscribed round, led by Endeit Capital, aims to accelerate Infraspeak's international expansion and strengthen its market presence in Europe, Latin America and Africa. CEO Felipe Ávila da Costa emphasized that the platform connects the entire building operation and supports modern work environments. Infraspeak plans to hire over 100 new employees by 2025 to expand its market leadership and redefine facility management through digital transformation and efficient collaboration.

Wobby secures 1.1 million euros in seed funding

Startup Wobby has received €1.1 million in its seed funding round to further develop a centralized platform for knowledge workers that transforms scattered information and insights into actionable insights. The aim is to reduce the workload and information overload for professionals. Backed by investors such as Shaping Impact Group, V-Ventures and imec.istart, as well as customers such as Roularta Media Group and Belga News Agency, Wobby plans to further expand its platform to make the daily work of professionals more efficient and less stressful.

GreenTech Flower secures 45 million euros for expansion in the DACH region

The Swedish GreenTech startup Flower has successfully completed its Series A financing round and is planning its expansion into the DACH region with 45 million euros in fresh capital. Led by Northzone, an investor in Spotify, the funds will be used for projects in Germany, Austria and Switzerland as well as the development of battery storage systems. Flower, founded in 2020 and specializing in AI-driven energy solutions, optimizes energy flows through a platform and battery systems to balance fluctuations in renewable energy supply and increase grid stability. Market entry is set to begin in 2025, with a battery project already being planned in Gernsheim, Saarland.

M & A and partnerships

Dataciders with takeover of ROITI

The data and AI service provider Dataciders has acquired the Bulgarian IT service provider ROITI in order to expand its market presence in the energy and utilities sector in the DACH region. ROITI specializes in consulting services for Energy Trading & Risk Management (ETRM) systems and supports major European customers, primarily in Germany and Switzerland. The acquisition not only gives Dataciders access to an experienced team of over 90 consultants and developers, but also strengthens its technological expertise in the field of ETRM. The transaction is the fourth acquisition since the entry of investor Rivean Capital in January 2024 and supports Dataciders' expansion strategy in the DACH region.

ROCKWOOL acquires Wetherby Building Systems Ltd.

The Danish ROCKWOOL Group has announced the acquisition of Wetherby Building Systems Ltd. to strengthen its market position in the UK. Wetherby, a leading supplier of external thermal insulation composite systems based in Golborne, will become part of the ROCKWOOL Wall Systems organization as Wetherby Wall Systems. This acquisition supports ROCKWOOL's commitment to sustainable and non-combustible façade solutions to help achieve the UK's 2050 climate targets. The transaction has no impact on ROCKWOOL's financial expectations for 2024.

Kamux with acquisition of Webcars Logistics AB

Kamux, an omni-channel provider specializing in used cars and related services, has acquired the Swedish company Webcars Logistics AB, which focuses on the purchase, logistics and export of used cars. The acquisition will enable Kamux to procure vehicles more efficiently and optimize its logistics processes. Webcars Logistics AB, founded in 2016, achieved a turnover of around 28 million euros in 2023 and trades around 2,500-3,000 vehicles annually, most of which were exported to Finland. Under Kamux, Webcars remains an independent unit and is managed as part of the Group functions.

Evaneos and RailEurope with rail partnership

The travel platform Evaneos is launching a partnership with RailEurope to expand train travel as a sustainable alternative to air travel. The collaboration aims to reduce travelers' carbon footprint and make it easier for them to access greener travel options. The Evaneos platform will now offer seamlessly combined train connections between popular European destinations, developed in collaboration with local partner agencies. The aim is to promote new travel experiences and highlight the diversity of European landscapes. With this partnership, Evaneos aims to increase motivation for more climate-friendly travel, while RailEurope aims to further improve the accessibility and flexibility of rail travel.

Lucanet takes over Causal

Lucanet has announced the acquisition of London-based Causal to expand its financial planning and analysis (FP&A) solution offering and strengthen its market position. Lucanet aims to meet the growing demand for integrated financial solutions and provide existing and new clients with a comprehensive, user-friendly platform. Causal's CEO Taimur Abdaal sees the collaboration as an opportunity to significantly increase the reach of its solution and attract more customers. Industry experts emphasize that this acquisition underscores Lucanet's commitment to modern SaaS technologies and fills a critical gap in the operational planning space.

Other news

VEAN TATTOO launches accelerator program for EU startups

The tattoo company VEAN TATTOO, with more than 160 studios worldwide, is launching an accelerator program for start-ups in the service and production sectors in the EU and Ukraine. The VEAN Business Group initiative, led by founder Igor Ganzha, offers participants access to departments such as marketing, IT and legal as well as free webinars and training materials. As part of the program, VEAN TATTOO will award a grant of 100,000 US dollars to the most promising startup. The grant is designed as a non-repayable grant to help founders realize their innovative ideas without financial constraints.

Stockholm launches world's first electric hydrofoil ferry

The world's first electric hydrofoil ferry "Nova", the Candela P-12 model, has started operating in Stockholm and is designed to reduce emissions in the city's public transportation system as well as halve commuting times. The electrically powered ferry floats on computer-controlled hydrofoils about one meter above the water surface, reducing energy consumption by 80% compared to conventional ships. During the 15-kilometer route from Tappström to Stockholm City Hall, "Nova" reduced the journey time for commuters to around 30 minutes. Thanks to the hydrofoil technology, the ferry generates hardly any waves and can therefore also travel at high speed within the city limits. With a range equivalent to conventional diesel ferries and the option of recharging at standard charging stations, the zero-emission ferry will be in operation as a pilot project until August 2025. The collaboration between Candela, Trafikverket and the Stockholm region is exploring the potential of hydrofoil technology for faster, more sustainable water transportation worldwide.

eKidz launches AI-supported learning system for personalized reading promotion

Together with research partners, the Munich-based start-up eKidz.eu has developed an app that enables AI-supported reading diagnoses and personalized support. The reading skills assessment application, which was developed as part of the "LeseKind" project, integrates speech recognition and continuous learning assessment in a system that has been specially optimized for elementary school and language support. Teachers are relieved as the AI reading analysis takes over the assessment and ongoing learning progress independently.

Start of phase 1 of the Munich Business Plan Competition

The Munich Business Plan Competition is entering its first phase, in which start-ups from southern Bavaria from all sectors can submit their business ideas. By January 21, 2025, the teams should submit a seven-page business outline with a focus on the business idea and customer benefits. The competition offers valuable feedback from industry experts, access to the BayStartUP coaching network as well as increased visibility and prize money totaling 48,500 euros. Participation gives startups the opportunity to improve their concept and increase their market opportunities with support from the BayStartUP network. Participation is possible via the BayStartUP homepage.

MassChallenge Switzerland and LDC award CHF 600,000 to innovative startups

MassChallenge Switzerland and the Louis Dreyfus Company (LDC) honored the winners of the 2024 Innovation Award yesterday in Lausanne. Fourteen start-ups were recognized for their sustainable solutions with prize money and benefits in kind worth over CHF 600,000. The LDC Climate Resilience Prize, endowed with CHF 100,000, went to the startup EcoBean for its biotechnological solution for recycling coffee grounds. LDC CEO Michael Gelchie highlighted EcoBean's contribution to the circular economy, which strengthens climate stability and environmental protection in food and agricultural value chains.