Welcome to our April 2023 wrap-up with important news from the startup scenes in Germany, Austria, and Switzerland in 30 minutes or less �.
Our Highlights:
Considerable funding made headlines last month. We have more than 600 M euros in funding in our highlights alone. A potential large exit: Software AG, the Darmstadt-based listed software company, is close to a 2.4 bn US$ exit with an offer from Silverlake Partners. Also, Berlin-based Blinkist may be close to a 200 M € exit. Hundreds of millions of raised funds were announced by Enpal (via ABS), Isar Aerospace, IntegrityNext, Razor Group, and Tado. Also, SAP is close to investing in Germany’s hottest AI startup Aleph Alpha from Heidelberg. Diverging picture in Airtaxi space: Lilium is looking for new investors; Volocopter builds the taxis and expects them to fly in less than 500 days at the Paris Olympics.
Let’s talk startups:
Top News
Software AG Close to a Multi-Billion Acquisition
Private-equity firm Silver Lake Partners, based in Menlo Park, is close to buying Germany’s Software AG in $2.42 billion deal. The offer is already public, reported Reuters. Shares of listed Software AG jumped 53% at the announcement. The investor already knows the company: In February 2022, Silver Lake had invested 344 million euros in the software developer’s convertible bond, which upon conversion would represent nearly 9% of issued Software AG shares.
Enpal Raises
More Than 300 M€Enpal raises up to €356 million via Securitization of Solar Receivables with first German residential solar ABS. ABS are asset-backed securities, that means if Enpal can not pay interest or pay back the final sum, the investors have the collateral (assets) backing the security
Blinkist Close to 200 M € Exit
Reports blog Deutsche-Startups, with an offer from an — yet unnamed — American company. The blog, with its founder Alexander Hüsing is usually pretty well informed and has been right before.
Isar Aerospace Closes €155 Million Funding
Isar Aerospace closes €155 million Series C funding round, ignition sequence start, all engine running. Investors are 7-Industries Holding, Bayern Kapital via its Scale Up Fund Bavaria, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche Automobil Holding SE (Porsche SE), UVC Partners, and Vsquared Ventures
100 m € for IntegrityNext
The company has been bootstrapped for seven years, but now IntegrityNext takes €100 million from EQT Growth fund.
Razor Group Raises 88 M US$
Berlin-based Razor Group, an e-commerce aggregator, closes Series C at $88M at $1.2B valuation, acquires Stryze to consolidate.
Tado Raises Money, As IPO Plans Falter
Smart thermostat startup Tado wanted to IPO but then came Corona and Ukraine. They originally wanted to explore a sale or IPO after their 2021 fundraising, but the SPAC deal faltered and they needed to adapt. So they raised 46.9 M US$. Their existing investors already include Siemens, Amazon, and EON.
SAP To Invest In AI Startup Aleph Alpha
German press reports that the software giant SAP is about to invest in German ChatGPT competitor Aleph Alpha, which also claims to have eliminated fake news from its software. As yet, the valuation and investment are not known.Related: Heidelberg-based startup, a competitor of ChatGPT, claims to have eliminated fake news from its tool Luminous
Airtaxi Lilium is Looking for New Money, and Volocopter is Planning to Fly
Airtaxi Lilium: 0 Euro revenue, 253 mn € losses. They are looking for new investors. Volocopter on the other hand, wants to start operating their drones as taxis ASAP. They also pledged to operate their air taxis in Paris, during the Olympic Games, in less than 500 days.
Related: Volocopter starts production — founders magazin
All Links and Show NotesHere is our blog post: https://medium.com/startuprad-io/this-month-in-german-swiss-and-austrian-gsa-startups-april-2023-episode-380-88b68d4bd32d
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Chapters: 00:00:00 Intro
00:01:30 Business Culture and Schedules - Upcoming Holidays in May and June
00:02:25 Highlights of the Startup News April 2023 for Germany, Austria and Switzerland
00:05:35 Top News April 2023
00:10:45 Housekeeping
00:11:20 Ecosystem News
00:11:53 Hubs - What is Happening Outside the Big Hubs?
00:14:50 Tech News - General News
00:16:55 Tech News - Creative Destruction
00:19:10 Tech News - Successful Fundraisings
00:20:10 Stay Ahead of the Curve
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