Startup news for the weekend week 45/25

Investments

Balnord launches €70 million fund for dual-use and frontier tech start-ups

The new early-stage investor Balnord has launched its first fund with a volume of 70 million euros, which has already been oversubscribed and is expected to grow to 100 million euros by mid-2026. The fund invests in frontier and dual-use technologies with a focus on space, health and industrial resilience and is aimed at start-ups from the Nordics, the Baltics, Poland and Germany. Balnord was established by the founders of Black Pearls VC and has already invested around 13 million euros in ten companies. Its investments include the German space start-up ATMOS Space Cargo, the Polish medtech company Vitvio and the Lithuanian communications specialist Astrolight. Balnord is supported by the European Investment Fund (EIF), PFR Ventures and international family offices and founders, among others.

Idemitsu invests in INERATEC

The Japanese energy company Idemitsu Kosan is investing in the Karlsruhe-based cleantech company INERATEC, a leading manufacturer of modular power-to-X plants for the production of synthetic fuels. The partnership expands INERATEC's investor base and opens up the Japanese market as a strategic growth area. The aim is to accelerate the use of drop-in e-fuels in aviation, shipping and other mobility sectors. Idemitsu is thus strengthening its technological position in the field of sustainable energy sources, while INERATEC intends to further scale up its modular reactor technology internationally.

The Icon League secures 15 million euros in Series A financing

The Icon League has closed a Series A financing round of 15 million euros. The round was led by HV Capital, with renewed participation from existing investors such as Thomas Hagedorn. The up-and-coming sports league intends to use the fresh capital to drive its international expansion, expand its infrastructure and technology and deepen partnerships with franchises, players and creators. The aim is to further professionalize the experience for fans on site and online and to redefine sport as a cultural community experience.

TH spin-off Mimic Robotics receives 16 million US dollars in seed funding

The Zurich-based robotics start-up Mimic Robotics, a spin-off from ETH Zurich, has raised 16 million US dollars in a seed round. The financing was led by Elaia and Speedinvest, with participation from Founderful, 1st Kind, 10x Founders, 2100 and Sequoia Scout. Mimic develops humanoid robotic hands and a generic AI model for robotics that captures human movements through imitation learning.

Awards & Events

MassChallenge Switzerland celebrates 10 years of startup promotion

MassChallenge Switzerland celebrated its tenth anniversary in Lausanne and awarded the winners of this year's Early Stage Accelerator program. Since its inception, the program has supported 1,175 startups worldwide, which together have raised CHF 2.9 billion in capital and created over 86,000 jobs. At the anniversary event, twelve start-ups were awarded a total of 400,000 Swiss francs in prize money-free funding, including MYNERVA AG, Apheros and Porelio. The LDC Climate Resilience Prize, endowed with 100,000 Swiss francs, was awarded to InsurTech IBISA for its satellite-based insurance solution against climate risks. The FAO Prize for Food Security also went to the start-up Koji. In addition to cash prizes, selected founders also received consulting services in the areas of law and intellectual property.

Five years of Stage Two: Europe's biggest stage for university start-ups

After five years, Stage Two, the initiative of HHL Leipzig Graduate School of Management and RWTH Aachen University, has become the world's largest platform for investment-ready university startups. In 2025, over 45 teams from 43 universities in more than 20 countries took part, with a total of more than five million euros in investment intentions. Since its inception, the 158 participating start-ups have raised over 150 million euros in funding. The competition connects university spin-offs with venture capitalists, promotes founders and covers a broad range of industries. Prizes such as the German Deep Tech Award (850,000 euros) and funding from sponsors such as Bertelsmann, Siemens and McKinsey underline the importance of Stage Two as a European beacon for university-based innovation.

plus10 wins Allianz Industry 4.0 Award 2025 for AI-based process optimization

The Stuttgart-based Fraunhofer IPA spin-off plus10 has been named winner of the Allianz Industrie 4.0 Award Baden-Württemberg 2025. The start-up received the award for its AI-based optimization solution Hopper, which automates production processes in plastics processing and reduces waste and cycle times by up to 20 percent. The system analyzes machine data in real time, recognizes influencing factors such as material properties or environmental conditions and automatically adjusts parameters to increase efficiency and process stability. The award recognizes plus10 as an innovative player in the field of digital manufacturing and Industry 4.0.

Tokenize.it wins Fintech Germany Award in the Web3 category

The blockchain startup Tokenize.it, founded by Christoph Jentzsch, has won the Fintech Germany Award 2025 in the Web3 category. The jury honored the fundraising platform at the end of a successful year of growth in which the company expanded into Austria and raised over twelve million euros in tokenized assets. Tokenize.it enables start-ups to fundraise digitally via blockchain-based profit participation rights that put investors on an equal footing with shareholders. The company plans to use the prize to further expand its investor network.

Personnel

Startup Association strengthens deep tech and scaleup expertise on the board

At the general meeting of the Startup Association on November 4, 2025, a new board was elected under the leadership of Verena Pausder. New to the team are Heike Freund, COO of nuclear fusion startup Marvel Fusion, and Nils Aldag, CEO of hydrogen unicorn Sunfire, who are expanding the association's expertise with their deep tech expertise. The aim of the board is to promote start-ups and scale-ups in Germany, drive innovation and pave the way for founders to become international market leaders. The term of office of the board members is two years.

Alex von Frankenberg becomes Venture Partner at May Ventures

Long-time HTGF Managing Director Alex von Frankenberg is joining the new early-stage fund May Ventures, which specializes in artificial intelligence, as a Venture Partner. After two decades at the helm of High-Tech Gründerfonds, he brings extensive experience and a strong network to the team led by Dominik Lohle and Max Derpa. May Ventures intends to benefit from Frankenberg's expertise, particularly in fundraising and in approaching co-investors and follow-on investors. Frankenberg describes artificial intelligence as the defining innovation topic of our time and sees particular opportunities for the next VC generation in focused funds such as May Ventures.

Management change at ToolTime: Marcel Mansfeld becomes CEO

Marcel Mansfeld, previously Chief Product Officer, is taking over the position of CEO at the craftsman software ToolTime. Co-founder Marius Stäcker is stepping down from the management board after six successful years. ToolTime, founded by Stäcker and Mansfeld in 2019, is now one of the leading providers of software solutions for the skilled trades in Germany. Mansfeld wants to lead the company into the next phase of growth, drive technological change in the skilled trades and, in particular, introduce AI-based solutions to increase efficiency and reduce the workload of skilled workers. At the same time, Marvin Dietrich will become part of the company management as CFO and additional Managing Director.

Further news

Spraga launches management team in Germany

The international kombucha label Spraga has set up a three-person management team for its launch in Germany, which will be responsible for developing the brand in this country. As Country Manager Germany, Constantin Höhmann is in charge of market launch and strategy, Laura Strube is responsible for brand management and communication as Marketing Lead Germany, and Heiko Nebe is Head of On Trade National, managing sales in the food service and specialist retail sectors. The team's aim is to establish Spraga as an independent premium kombucha brand. Spraga combines traditional fermentation with modern technology and will be launching four varieties of its functional drink in Germany from October 2025.