Startup News of the Week
- Startup Camiedos wins first place in FIEGE Innovation Challenge
- Trisor places 15 million euro corporate bond with interest coupon of 7.5 percent
- Elon Musk’s cousin invests in German startup Enpal
- Outbrain receives $200 million capital injection
- Bitkom: Startups need an average of 4 million euros in capital
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Innovations and developments in the startup scene
Startup Camiedos wins first place in FIEGE Innovation Challenge
Greven, June 28, 2021 – In this year’s FIEGE Innovation Challenge, the startup Camideos was able to convince the jury. The founders Andreas Rudi, Philipp Rose, Felix Mildner and Steffen Link convinced with their software for emission tracking. This software is intended to support companies in the use of trucks and facilitate responsible energy consumption. As the winning team, Camiedos received 5000 euros and will be accompanied in the future by FIEGES Comapny Builder XPRESS Ventures. Voting in this competition was not only by the professional jury of the project, but also by the public. The CEO at FIEGE, Felix Fiege, explained the jury’s choice as follows: “In the end, Camideos had the best overall package from our point of view. […] But we will also keep a very close eye on the ideas of the other finalists and continue to accompany the founders.”
Philipp Rose, CEO of Camiedos, was enthusiastic: “We’re thrilled that we were able to score points with the jury with our young start-up and our vision, especially because the other founders also presented very exciting ideas and business models.”
Trisor places €15 million corporate bond with interest coupon of 7.5 percent
Berlin, July 07, 2021 – Trisor GmbH, a Berlin-based safe deposit box provider, recently successfully issued a bond in the amount of 15 million euros. In doing so, the bond carried an interest coupon of 7.5 percent. This bond made it possible for the group of companies surrounding Tresor GmbH to gain access to the capital market. Thus, the company, which was only founded in winter 2019, was able to generate a further expanded source of financing for its upcoming expansion plans. Trisor’s high-security site includes 5 thousand safe deposit boxes, which are secured by 3-factor authentication. In addition, a VdS-certified security company is responsible for 24/7 protection. In addition, partners in the insurance and real estate industries help with additional protection. Commenting on recent events, Julian Treidler, Trisor’s managing director, said: “The placement of the bond with an interest rate coupon that is comparatively low for a young company represents a great success for Trisor. It speaks to the value of both the company and its business model. The fact that we are gaining access to debt capital with these conditions so early is a clear sign of the quality of the Trisor group of companies and confirms the work of recent months.”
Elon Musk’s cousin invests in German startup Enpal
Berlin, July 08, 2021 – Enpal, one of Berlin’s leading solar equipment rental companies, has, since its inception four years ago, enjoyed tremendous growth. Despite the Corona crisis, it was able to triple its previous result with 4,500 systems installed. Now they have completed what is probably their largest financing round to date. Numerous investors participated in the company’s capital injection for this purpose. The investors involved included in particular HV Capital, Peter Rive, Thomas Griesel and Christopher Muhr. In addition, the investment bank Berenberg played a significant role in the financing round as sole lead arranger. The newly acquired capital will be used for the growth of Enpal and the further spread of sustainable, green energy. Founder Mario Kohle is happy about the recent events: “We are already building as many systems every day as we did in the whole of 2017, and we want to build on this momentum over the next few years to be able to install one million solar systems by the end of the decade. So we’re thrilled to now have HV Capital on our side as a strong partner to help us become one of the great energy platforms of the 21st century.”
Outbrain receives $200 million capital injection
New York/Munich, July 07, 2021 – On Wednesday, Outbrain, one of the Open Web’s leading recommendation platforms, announced the successful closing of its funding round. An essential part of the strategic funding plan was Boston-based inv estment manager The Baupost Group. Investment bank Jeffries Group LLC and financing services provider Citigroup Inc. also participated as placement agents. David Kostmann, co-CEO of Outbrain expressed his excitement: “We are very pleased to announce today The Baupost Group’s investment in our company. The hedge fund not only shares our vision and commitment to our business as well as our team, but also our outlook for the future.”
Insights and Info
Bitkom: Startups need an average of 4 million euros in capital
Berlin, June 28, 2021 – It is not particularly surprising: in the year of the Corona crisis, the financial needs of startups have increased by quite a bit. Especially the aspect of financing remains a challenge for many startups. In order to assess the situation a bit better, the digital association Bitkom recently launched a survey among more than 200 tech startups. In this context, the core results showed above all that 76 percent of German startups will need fresh capital in 2023. In addition, 86 percent of the startups have not yet been able to secure their financing. On average, however, these startups need 4 million euros to survive and successfully generate capital. Here, the increase from the year before the pandemic is clear to see, as an average of 3.2 million euros was needed in 2019.
Bitkom President Achim Berg made the following statement on the results of the survey: “Many startups have ambitious growth targets and want to expand internationally – this is also reflected in the increasing need for capital. More startups are successful and have reached the growth phase, so financing rounds are getting bigger These financing rounds are important and must succeed so that we can keep and develop fast-growing startups with their innovative solutions and highly qualified jobs in Germany.”
Life is taking on some normalcy again and even traveling doesn’t seem too far away anymore. Still looking for top travel startups to help you with your new travel plans? Then check out our top 5 travel startups in Berlin.
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