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Geography

DACH (Germany, Austria and Switzerland)

Startups to watch in German-speaking Europe

Last updated: 2 Jun 2022

Market 101

Welcome to das startup kapital. With the highest proportion of Europe’s GDP for any region, the DACH area — Germany, Austria and Switzerland — has always been an economic powerhouse. And it’s no longer solely powered by centuries-old giants. The DACH trio has tapped into its strengths — including high R&D spending, a long track record of patents and some of Europe’s wealthiest, most educated populations — to emerge as the continent’s second-best funded scene (the UK is still top startup dog).

While different specialties have emerged across the region, its hotspots share common features. These include the role of corporates as both rivals and supporters, acting as a key source of funding both as LPs and through CVC. DACH countries also benefit from more sprawling ecosystems than some of their European counterparts, with tech hubs extending far beyond the capitals. A bustling tech market with plenty of room to grow, the conditions for DACH’s further expansion — even amidst a downturn that so far sees startups receiving a clobbering — are unquestionably promising.

Early stage market map

Early stage market map

Key facts

21

% of total European VC funding raised in DACH in 20211

26

% share of European GDP attributable to DACH2

5

DACH cities among top 20 European cities by startup deal count in 2021 (Berlin, Munich, Zurich, Vienna, Hamburg)3

Startups tracked by Sifted

Sifted take

DACH-based techies have little to complain about, really. And yet, for all its might, things could still be better (particularly in Austria) if it wasn’t for (at times) less-than-friendly startup regulations. In a time of relative market turbulence, it remains to be seen whether the region will soar past current highs or remain basking in the comfort of its past achievements.

Rising stars

DACH's leading pre-Series A startups (all published data verified) We identify companies as ‘rising stars’ using a number of criteria including founder backgrounds, investor track record, funding and valuation, and growth signals

receeve GmbH

Fintech

Digital lending

Total funding

€16m

Hamburg, Germany
2019

Backed by the likes of Speedinvest, Seedcamp and ABN Amro, receeve offers a white-label debt collection platform for customers that include banks, alternative lenders, utilities and telcos. Its cofounders have backgrounds in venture building, corporate innovation and VC.

Round

Seed

Valuation

€80m


Date

2021

Size

€4m

Arkeon Bio

Sustainability

Carbon capture

Total funding

€6.5m

Vienna, Austria
2021

Develops “carbon-negative” proteins by converting CO2 into organic food through fermentation.

Round

Seed

Valuation

€25m


Date

2021

Size

€6.5m

RedStone

Fintech

Crypto

Total funding

€6.7m

Baar, Switzerland
2020

Backed by the likes of Coinbase Ventures and Blockchain Capital, RedStone provides customisable data streams to support new protocols and applications in DeFi.

Round

Seed

Valuation

€50m


Date

2022

Size

€6.3m

Early stage startups to watch

Aignostics

Berlin, Germany
2018
Seed

6m

5m

-

Arkeon Bio

Vienna, Austria
2021
Seed

6.5m

6.5m

25m

Avea

Zug, Switzerland
2021
Seed

2.5m

2.5m

10m

Bareways

Lübeck, Germany
2019
Seed

4m

1.4m

-

Bloom Biorenewables

Marly, Switzerland
2019
Seed

7.5m

3.9m

-

Calingo

Zürich, Switzerland
2020
Seed

2.2m

1.4m

8m

Celeris Therapeutics

Graz, Austria
2021
Seed

4.8m

3.9m

19.3m

CG24 Group AG

Zurich, Switzerland
2015
Bootstrapped

10.5m

700k

55.5m

Circunomics

Mainz, Germany
2019
Seed

2.3m

1.8m

9m

cirplus

Hamburg, Germany
2018
Seed

4.5m

3.3m

15m

Coinpanion (SmartBytes GmbH)

Wien, Austria
2019
Seed

5.8m

5.5m

9m

crop.zone GmbH

Aachen, Germany
2020
Pre-seed

2m

1.5m

25m

DePoly

Sion, Switzerland
2020
Pre-seed

2.9m

1.2m

4.2m

doctorly

Berlin, Germany
2018
Seed

10m

4m

40m

Dogo

Berlin, Germany
2017
Seed

3.8m

2.9m

16.4m

Donut

Berlin, Germany
2018
Pre-seed

3.5m

1.8m

-

Dropp

Berlin, Germany
2021
Pre-seed

2.1m

2.1m

-

Ducktrain

Aachen, Germany
2018
Seed

4.6m

1.5m

-

edyoucated

Münster, Germany
2019
Seed

2.5m

2.1m

-

Grovy Tech GmbH

Frankfurt am Main, Germany
2021
Seed

3m

3m

30.5m

Helvengo AG

Zurich, Switzerland
2020
Seed

4.9m

4.2m

-

hi.health

Vienna, Austria
2019
Seed

7m

3m

22m

INZMO

Berlin, Germany
2016
Seed

5.2m

3.1m

-

Klim

Berlin, Germany
2020
Seed

6.7m

5.5m

5m

Komed Health AG

Zurich, Switzerland
2017
Seed

3m

1.1m

-

LEDCity AG

LEDCity AG, Switzerland
2017
Seed

2m

2m

-

Likeminded

Berlin, Germany
2020
Pre-seed

3.5m

3.5m

17.5m

Made of air GmbH

Berlin, Germany
2016
Seed

5m

5m

-

mammaly

Cologne, Germany
2020
Seed

3m

3m

-

Minespider

Berlin, Germany
2018
Grant

3.1m

2.3m

35m

Miraex

Ecublens, Switzerland
2019
Seed

10m

3.8m

-

Monkee

Innsbruck, Austria
2018
Seed

2.5m

1.5m

7m

MOTIONTAG

Potsdam, Germany
2015
Seed

3.8m

1m

11m

Orbit Health GmbH

Munich, Germany
2021
Seed

4m

1m

-

Ostrom

Berlin, Germany
2021
Seed

4.4m

4.4m

-

Polyteia

Berlin, Germany
2018
Seed

6m

3m

-

Prestatech

berlin, Germany
2019
Seed

5m

5m

-

receeve GmbH

Hamburg, Germany
2019
Seed

16m

4m

80m

RedStone

Baar, Switzerland
2020
Seed

6.7m

6.3m

50m

Revo Foods

Vienna, Austria
2020
Seed

3.4m

1.4m

-

RIDE Capital

Berlin, Germany
2020
Seed

5m

3m

60m

simpleclub

Grünwald, Germany
2015
Angel

3.3m

1.3m

-

SmartHelio

Lausanne, Switzerland
2019
Seed

5m

3.5m

30m

Spacenus GmbH

Darmstadt, Germany
2015
Seed

2m

1.7m

8.5m

Sympatient

Hamburg, Germany
2017
Grant

5m

1.3m

8m

Taxy.io

Aachen, Germany
2020
Seed

5m

2.5m

-

Timeless Investments

Berlin, Germany
2021
Seed

12m

12m

60m

Tomorrow Biostasis

Berlin, Germany
2020
Angel

2.5m

2.5m

12.5m

Tomorrow’s Education

Berlin, Germany
2020
Seed

4.5m

3.4m

-

Trality

Vienna, Austria
2019
Seed

4.1m

2.4m

-

Unchained Robotics GmbH

Paderborn, Germany
2019
Pre-seed

2.2m

1.7m

-

Unstoppable Finance

Berlin, Germany
2021
Seed

4.5m

4.5m

20.5m

Yababa

Berlin, Germany
2021
Seed

13.4m

12.5m

-

yuri

Meckenbeuren, Germany
2019
Seed

3.8m

2m

-

Europe’s success stories

Who early stage startups are up against

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ “Process mining” startup

that maps out companies’ workflows to identify areas ripe for automation → Counts over 1,000 enterprise customers as well as a partnership with computer giant IBM, which will train 10k of its consultants in Celonis software

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Provides software to detect vulnerabilities in source code

→ Made $175m in annual recurring revenue last year, from a commercial customer base of more than 16k organisations

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Neobroker focused primarily on cryptocurrencies

→ Austria’s most valuable startup, which tripled its valuation in three months to $4.1bn in August 2021

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