Startup, Venture Capital and Tech News from Germany, Austria and Switzerland

Germany is now officially in a recession, but one with barely any unemployment. Also, we still track many startups going out of business, BUT the overall picture is improving. The German VC and PE Barometer - which captures the mood of many German investors - is showing an uptick. This shows especially in the massive amount of new funds raised; they promise a bright future for startups! We tracked at least 3,4 bn Euros of newly raised funds, which will be invested entirely or partially in startups in Europe and GSA. Look at our medium blog; we have more information on what the investors are looking for and how to pitch them. We also have investments and exits worth at least 5,4 bn Euros and news in this episode, including WeFox, Tier Mobility, Infarm, Blinkist, Bitpanda, Aleph Alpha, Sono Motors, and many more.

Let's talk startups:

Find all links and the other news here: https://medium.com/startuprad-io/this-month-in-german-swiss-and-austrian-gsa-startups-may-2023-episode-385-87fd564d483a

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Getir is in talks to take over German grocery app rival Flink | Financial Times

But then: Flink's sale to Getir fell through. Now Flink is raising 150 M € from investors, including grocery giant Rewe and Doordash

European e-scooter giant Tier Mobility maps route to merger

Infarm keeps shrinking and is leaving Europe, reports Handelsblatt. The greenhouse startup reportedly has only 80 employees in Europe left and will get an investment at an unknown valuation for their relocation - likely to the Middle East with low energy prices

Berlin-based startup Blinkist is sold to Australian education startup Go1 for an undisclosed amount, reported to be "hundreds of millions." Blinkist offers short wrap-ups of nonfiction books as text or audio

Bitpanda boss admits his company may now be worth only 2.5–3 bn US$, vs 4.1 bn US$ valuation at their August 2022 funding

but not from Tesla. Swedish unicorn Northvolt builts Gigafactory in the north of Germany for 4.5 bn Euros - thanks in part to large subsidies

SAP CEO indirectly confirms their investment in German AI startup Aleph Alpha, rumored to be up to 100 m Euros

Related news later emerged: We reported that SAP wants to invest in Heidelberg-based ChatGPT competitor Aleph Alpha, now Intel also shows interest in investing

wefox raises $110M in Debt and Equity Funding to become profitable: Wefox secures new funding at $4.5 billion valuation as it aims for profitability. The company sells insurance products through in-house and external insurance brokers.