WEBVTT 00:00:00.000 --> 00:00:20.080 Music. 00:00:20.240 --> 00:00:25.400 Hello and welcome to our regular startup news from the startup and tech entrepreneurship 00:00:25.400 --> 00:00:30.620 scenes in Germany, Austria, and Switzerland. Welcome to StartupRate.io. 00:00:30.820 --> 00:00:35.780 Our startup news today is recorded with me, Chris, not in New York City, 00:00:35.820 --> 00:00:43.020 but in a hotel room in Hamburg, Germany, and Joe is joining from Frankfurt. Hey, guys. 00:00:44.120 --> 00:00:47.060 Hello uh today's day 00:00:47.060 --> 00:00:52.200 is april 25th 2025 um and 00:00:52.200 --> 00:00:56.260 that's also our cutoff date as always all news not included will be in our next 00:00:56.260 --> 00:01:06.880 news start up wrap up to be published on may 29th uh accession of christ a holiday 00:01:06.880 --> 00:01:10.680 in many german states and the day we celebrate in germany father's day, 00:01:11.440 --> 00:01:18.020 So if you are in Germany, that's a day when a lot of fathers walk around the countryside drunk. 00:01:18.820 --> 00:01:23.220 We need you to cut our news today seriously short so you have a brief news overview. 00:01:23.860 --> 00:01:31.560 We will have news pieces in our blog post on startupraid.io slash blog that 00:01:31.560 --> 00:01:33.280 we simply cannot cover here. 00:01:33.480 --> 00:01:37.980 Otherwise, the news would stretch for more than one hour. My estimate was even one and a half hours. 00:01:38.660 --> 00:01:44.180 So, yeah, let's get to it. And you are taking the lead with highlights. 00:01:45.000 --> 00:01:49.560 Yes, I do. And for everybody, now is the time to pause this and get a snack 00:01:49.560 --> 00:01:53.860 and a drink because this is going to be long and intense. It's our highlights. 00:01:54.220 --> 00:02:01.600 March 2025 saw a remarkable surge in the DAX startup ecosystem with nearly 1.3 00:02:01.600 --> 00:02:06.660 billion US dollars in disclosed startup funding rounds and over 5 billion US 00:02:06.660 --> 00:02:08.580 dollars in new venture fund announcements. 00:02:08.840 --> 00:02:13.200 Little disclaimer, they are not all from the DAX region, but they do also invest here. 00:02:13.660 --> 00:02:24.760 From Ambers raising $250 million for global AI health expansion to Noctua's 00:02:24.760 --> 00:02:27.640 92 million round for sovereign AI. 00:02:27.940 --> 00:02:32.680 Germany, Austria, and Switzerland continue to punch above their weight in innovation. 00:02:32.980 --> 00:02:40.120 Other major wins include Berlin's N8N, raising 55 million to rival Zapier, 00:02:40.320 --> 00:02:44.860 and Munich's Marvel Fusion securing 50 million for nuclear innovation. 00:02:44.860 --> 00:02:51.760 Cross-border deals like Lyft's $175 million acquisition of FreeNow further demonstrate 00:02:51.760 --> 00:02:55.600 the growing international relevance of the region's scale-ups. 00:02:55.780 --> 00:03:00.900 At the time, venture capital activity is clearly rebounding across the Dach region. 00:03:01.100 --> 00:03:03.080 We'll also have some news about that. 00:03:03.600 --> 00:03:07.380 First Momentum Ventures unveiled a $100 million deep tech fund, 00:03:07.380 --> 00:03:12.380 while global players like Oakley Capital, 4.5 billion, Revent, 00:03:12.540 --> 00:03:15.220 100 million, and Compass, 150 million. 00:03:15.910 --> 00:03:22.290 Are backing the next generation of founders. This trend reflects shifting investor 00:03:22.290 --> 00:03:27.090 focus towards long-term value in an eye, climate tech, health tech, 00:03:27.330 --> 00:03:28.930 and infrastructure resilience. 00:03:29.330 --> 00:03:35.410 Challenges remain as seen in scrutiny of new broker trade republic and a wave of insolvencies. 00:03:35.630 --> 00:03:41.990 But the overall outlook underscores the strategic trend in venture capital, 00:03:42.130 --> 00:03:47.450 entrepreneurship, and early-stage technology leadership. Leadership, I'm sorry. 00:03:48.190 --> 00:03:52.030 Startup Radio continues to be trusted media voice in the involving landscape. 00:03:52.250 --> 00:03:56.510 In March alone, the podcast network achieved top ranking in Apple Podcasts, 00:03:57.170 --> 00:04:01.770 business news and entrepreneurship categories across more than 20 countries. 00:04:02.330 --> 00:04:06.510 Sub-podcasts like Blockchain Germany, Top 70, Web3 Podcasts, 00:04:06.610 --> 00:04:10.290 and Fintech Germany, Deep Tech Germany, Tech Startups Germany, 00:04:10.530 --> 00:04:15.650 and Our Startup News Podcast made it in the top 100 VC podcasts globally. 00:04:15.910 --> 00:04:21.830 All recognized by millionpodcast.com. They confirm Startup Radio's reach and 00:04:21.830 --> 00:04:27.770 relevance among startup founders, VC and innovation executives across Germany, 00:04:27.870 --> 00:04:29.450 Austria, Switzerland and the world. 00:04:29.610 --> 00:04:34.510 If you're serious about staying informed and ahead, this is the voice of the 00:04:34.510 --> 00:04:38.410 dark startup scene you can't afford to miss. 00:04:38.870 --> 00:04:43.890 As always, we have a little bit on the customs upcoming holidays in late spring, 00:04:44.030 --> 00:04:46.370 early summer. We do have a lot here in Germany. 00:04:48.250 --> 00:04:51.010 Most of them are public holidays in most states. 00:04:51.230 --> 00:04:54.330 So depending on where your partner, where your company is that you're doing 00:04:54.330 --> 00:04:56.410 business with, they may not apply. 00:04:56.730 --> 00:05:00.710 This year, three of them are on Thursdays, including May 1st, 00:05:00.890 --> 00:05:04.870 Europe White Labor Day, and Session of Christ, May 29th. 00:05:05.070 --> 00:05:09.830 Also Father's Day, as Chris already hinted, Corpus Christi, June 19th. 00:05:09.830 --> 00:05:14.170 And you should not expect people to pick up the phone on the Friday following 00:05:14.170 --> 00:05:16.350 that, because many people would take long weekends. 00:05:16.710 --> 00:05:20.370 There's also with Monday on June 9th. So plan accordingly. 00:05:21.070 --> 00:05:25.370 I'm actually looking forward to four long weekends in the coming month. 00:05:25.930 --> 00:05:32.510 Note for the next upcoming public holiday is only reunification day on October 3rd. 00:05:32.630 --> 00:05:34.710 This year, a Friday. 00:05:36.210 --> 00:05:36.850 Um... 00:05:37.687 --> 00:05:40.447 Chris, as always, you want to do top news, right? 00:05:41.047 --> 00:05:46.647 Yes. After, in every episode, we talk about the many holidays and vacation days that the Germans get. 00:05:47.027 --> 00:05:50.927 We can also talk about, yeah, the top news. 00:05:51.467 --> 00:05:55.707 And this month, for example, we have a VC investment rebound, 00:05:55.707 --> 00:06:00.167 where we see that despite ongoing macroeconomic uncertainty, 00:06:00.667 --> 00:06:03.647 venture capital investment in German startups is actually on the rise, 00:06:03.807 --> 00:06:07.467 according to a recent report in Handelsblatt. 00:06:07.687 --> 00:06:12.227 The article highlights a surprising resurgence in both early and late stage 00:06:12.227 --> 00:06:16.707 funding, signaling renewed investor confidence in the country's ecosystem. 00:06:17.067 --> 00:06:21.467 So overall, suggesting that founders with scalable models and AI driven solutions 00:06:21.467 --> 00:06:27.947 are still attracting capital in Germany, even amid what is a more cautious global funding environment. 00:06:29.247 --> 00:06:35.927 We also see that Berlin-based new broker Trade Republic is facing a growing 00:06:35.927 --> 00:06:41.447 backlash after a series of repeated app outages during trading hours, even. 00:06:41.787 --> 00:06:45.427 So users were unable to access their accounts or execute trades. 00:06:45.427 --> 00:06:52.027 We have found several reports about this at Berzer Online, the Bavarian Public 00:06:52.027 --> 00:06:53.827 Broadcast, the BR and FAZ, 00:06:54.127 --> 00:06:58.967 all highlighting our user frustration over the platform's instability with many 00:06:58.967 --> 00:07:01.267 retail investors now considering alternative brokers. 00:07:01.587 --> 00:07:05.687 The disruptions often occurring during peak market times have sparked calls 00:07:05.687 --> 00:07:10.327 for compensation and raised concerns over Trade Republic's infrastructure resilience, 00:07:10.587 --> 00:07:14.767 especially as other competitors ramp up reliability in response. 00:07:15.427 --> 00:07:19.187 Also, multiple users have reported disappearing balances from their accounts, 00:07:19.187 --> 00:07:22.987 prompting an internal investigation and mounting even more public information. 00:07:23.301 --> 00:07:27.241 According to Business Insider, the platform is now under potential regulatory 00:07:27.241 --> 00:07:33.601 scrutiny as the fintech community and watchdogs raise alarms over financial irregularities. 00:07:33.821 --> 00:07:36.801 These issues are not only damaging the company's reputation, 00:07:36.801 --> 00:07:40.881 but also undermining user trust in the broader near broker segment, 00:07:41.261 --> 00:07:43.981 especially in Germany's heavily regulated financial environment. 00:07:43.981 --> 00:07:50.661 And I think also, especially in what still is a very cautious investing environment anyway, 00:07:50.821 --> 00:07:55.481 because, I mean, for decades, we've now been talking about how comparatively 00:07:55.481 --> 00:08:01.001 low the interest of Germans in investing in stocks is overall. 00:08:02.681 --> 00:08:07.521 Solaris Bank is facing internal turmoil as co-founder Andreas Bittner files 00:08:07.521 --> 00:08:12.201 a lawsuit against SBI's acquisition, accusing the Japanese investor of orchestrating 00:08:12.201 --> 00:08:14.181 a corporate raid, quote unquote. 00:08:14.541 --> 00:08:18.961 This case sheds light on growing foreign influence in German fintech and raises 00:08:18.961 --> 00:08:22.161 concerns about governance in startup bank hybrids. 00:08:22.401 --> 00:08:26.281 More about that can be found in Manager magazine. 00:08:27.541 --> 00:08:32.881 Amboss, a Berlin-based chat GPT for doctors, has raised 240 million euros. 00:08:33.161 --> 00:08:37.761 So to expand its AI-driven clinical decision support platform globally, 00:08:38.041 --> 00:08:44.281 I was very tempted to say, well, okay, everything with the label AI on it still 00:08:44.281 --> 00:08:45.581 can attract a lot of money. 00:08:45.701 --> 00:08:49.261 But actually, I mean, if you look into the AI field, 00:08:49.581 --> 00:08:52.521 it still seems to me, at least from the outside, that 00:08:52.521 --> 00:08:55.401 And Med.ai is actually 00:08:55.401 --> 00:09:00.281 one of the few fields where use 00:09:00.281 --> 00:09:06.441 cases actually surpass large language models and where it's more than just predictive 00:09:06.441 --> 00:09:13.161 rambling and where actually they are looking for patterns and improved the way 00:09:13.161 --> 00:09:16.161 of diagnosing illness, for example. 00:09:17.121 --> 00:09:21.161 So Ambos, the health tech startup, plans to enter new markets and prepare for 00:09:21.161 --> 00:09:25.141 potential IPO reports, trending topics, and silicon canals. 00:09:26.741 --> 00:09:36.261 Lyft has acquired FreeNow, a German mobility startup, for 175 million euros. 00:09:37.341 --> 00:09:40.901 There's less money in the market than there used to be, but not that little. 00:09:41.641 --> 00:09:45.201 Marking a pivotal move in the global ride-sharing landscape, 00:09:46.041 --> 00:09:51.881 Lyft, as always, or since forever, fighting Uber's market dominance. 00:09:52.561 --> 00:09:58.081 But this acquisition strengthens Lyft's foothold in Europe, allowing the US-based 00:09:58.081 --> 00:10:03.621 mobility platform to tap into Freenow's established user base across major European cities. 00:10:04.421 --> 00:10:07.781 Heiser online reports that the deal positions live to better compete with regional 00:10:07.781 --> 00:10:13.001 players too and expand its multimodal transportation offerings in those areas. 00:10:13.678 --> 00:10:17.858 Key urban markets. First Momentum Ventures, based in Karlsruhe, 00:10:17.938 --> 00:10:24.798 Germany, launched a 100 million euro deep tech fund to invest in academic spin-outs 00:10:24.798 --> 00:10:26.818 and highly technical founders. 00:10:27.058 --> 00:10:29.418 Target sectors include AI, biotech and hardware. 00:10:29.758 --> 00:10:36.138 This positions the firm as a major early stage player and Europe's innovation economy rights sifted. 00:10:36.398 --> 00:10:40.118 And here we have to add in this disclaimer, I can do it. You are working as 00:10:40.118 --> 00:10:43.398 a startup scout for First Momentum, So full disclosure here. 00:10:44.698 --> 00:10:50.758 Noxtua, a Berlin-based AI startup, secured $92 million to develop sovereign 00:10:50.758 --> 00:10:54.658 language, large language models, LLMs, for legal and governmental use, 00:10:55.178 --> 00:10:57.978 emphasizing GDPR compliance and explainability. 00:10:58.258 --> 00:11:00.998 The round was led by European institutions. 00:11:04.338 --> 00:11:10.878 N8N, the Berlin-based startup revolutionizing AI-powered workflow automation 00:11:10.878 --> 00:11:19.138 has closed 55 million Euro Series B to accelerate its fair code automation platform. 00:11:19.438 --> 00:11:23.598 They want to use the funding to expand the engineering and go-to-market teams, 00:11:23.818 --> 00:11:28.678 enabling the company to meet more global demand from developers and businesses 00:11:28.678 --> 00:11:32.418 seeking scalable open source alternatives to legacy automation tools. 00:11:33.678 --> 00:11:39.338 And 8n is known for a developer-centric approach and flexibility across systems. 00:11:39.558 --> 00:11:43.838 And they are now trying to position themselves as a serious Zapier competitor 00:11:43.838 --> 00:11:47.198 in the enterprise and small and medium-sized business markets. 00:11:48.868 --> 00:11:53.188 Marvel Fusion, a Munich-based nuclear energy startup, raised 50 million euros 00:11:53.188 --> 00:11:56.668 to accelerate its laser-based fusion technology. 00:11:56.848 --> 00:12:00.548 The run includes investments from Siemens Energy, indicating growing corporate 00:12:00.548 --> 00:12:05.988 interest in clean fusion alternatives, right, Finsmes and Handelsblatt. 00:12:06.828 --> 00:12:11.248 And an overall look at the German economy as we do it regularly here. 00:12:11.388 --> 00:12:17.648 Here, it's, well, if not grim, at least dark-ish. 00:12:18.848 --> 00:12:25.068 Germany's economic outlook remains subdued in the spring of 2025 with the federal 00:12:25.068 --> 00:12:29.168 government projecting now just like a zero growth for the year. 00:12:29.168 --> 00:12:30.828 They released that yesterday. 00:12:31.368 --> 00:12:35.048 The still governing economy minister, Mr. 00:12:35.508 --> 00:12:41.608 Economy Minister, Robert Harbeck, attributed the slowdown to continued geopolitical 00:12:41.608 --> 00:12:45.728 instability, high energy transition costs and subdued investment activity. 00:12:46.228 --> 00:12:51.008 Up to last week, the projection was 0.3 percent GDP growth. 00:12:51.788 --> 00:12:56.368 So that has gotten worse. We've seen it also with the International Monetary 00:12:56.368 --> 00:12:59.388 Fund also lowering their expectations for the overall year. 00:12:59.988 --> 00:13:04.408 Most of all, Donald Trump is being blamed with his tariff policies. 00:13:04.808 --> 00:13:09.208 And the latest EFO Business Climate Index also showed only a slight uptick in 00:13:09.208 --> 00:13:13.368 April, indicating that while industrial producers are cautiously optimistic, 00:13:13.588 --> 00:13:17.428 service sectors and small and medium-sized enterprise remain wary. 00:13:18.208 --> 00:13:22.268 Credit Reform Spring report confirms that although order volumes are stabilizing, 00:13:22.868 --> 00:13:27.328 many Mittelstand companies are postponing investments due to interest rate uncertainty 00:13:27.328 --> 00:13:29.248 and general low confidence. 00:13:29.528 --> 00:13:33.008 So together, all of these indicators, they highlight a pretty fragile and uneven 00:13:33.008 --> 00:13:35.808 recovery across Germany's key economic systems. 00:13:36.048 --> 00:13:39.968 And as always, with the insecurity coming from the Ukraine war, 00:13:40.088 --> 00:13:44.468 from the war in Gaza, but most of all from the US, adding to the trouble. 00:13:45.474 --> 00:13:49.614 Now up to you. Housekeeping. Bragging. All of it. 00:13:50.454 --> 00:13:53.314 Housekeeping. Yeah, just a tiny bit. 00:13:54.074 --> 00:13:59.454 I'm getting daily emails on where we are scoring with all the StartupRate.io podcasts. 00:13:59.814 --> 00:14:04.614 And I actually just took a snapshot with more than 20 countries where we are 00:14:04.614 --> 00:14:07.554 charting as of early this week. 00:14:07.734 --> 00:14:11.714 Germany, Austria, Switzerland, Moldova, Egypt, Netherlands, Turkey, 00:14:12.254 --> 00:14:14.334 South Korea, Luxembourg, and Saudi Arabia. 00:14:14.334 --> 00:14:22.974 Plus, we have also been named a Top 70 Web 3 podcast with our Blockchain Germany by a Million podcast. 00:14:23.194 --> 00:14:27.354 And in the Top 100 Global Venture Capital podcasts, 00:14:28.114 --> 00:14:30.874 made it FinTech Germany, Deep Tech Germany, Tech Startups Germany, 00:14:31.154 --> 00:14:38.354 and our Startup News podcast, StartupBite.io, did not qualify because they are listed on other lists. 00:14:40.034 --> 00:14:43.434 Let's talk a little bit about the ecosystem. system. 00:14:43.674 --> 00:14:48.114 In the world, startup investor activity surged in Q1 2025. 00:14:49.598 --> 00:14:55.298 With SoftBank Y Combinator leading global deal volume, according to Crunchbase, 00:14:55.478 --> 00:14:59.778 early stage funding focused heavily on AI, fintech and health tech. 00:15:00.298 --> 00:15:04.698 Let's look a little bit more into Europe. AI startup founders in Europe are 00:15:04.698 --> 00:15:09.918 being recognized as key operators to watch with SIFT profiling 10 entrepreneurs 00:15:09.918 --> 00:15:14.918 driving innovation in synthetic media, health tech and enterprise automation. 00:15:14.918 --> 00:15:20.538 These leaders are setting the tone for AI's next phase of growth. 00:15:20.958 --> 00:15:24.338 European missile defense, supported by German defense startups, 00:15:24.538 --> 00:15:30.438 could see AI-backed radar and tracking integration amid rising tensions with Russia. 00:15:30.678 --> 00:15:35.438 NTV highlights the evolving geopolitical stakes and funding needs. 00:15:35.958 --> 00:15:41.938 EOFintech regulations are intensifying, prompting startups to strengthen compliance frameworks. 00:15:42.898 --> 00:15:47.198 International Banker reports that stricter KYC, Know Your Customer, 00:15:47.478 --> 00:15:54.458 and Anti-Money Laundry, AML, standards are reshaping digital finance across Europe. 00:15:54.658 --> 00:15:59.638 Chris, handing over to Germany's ecosystem news. Yes, let's zoom in a bit. 00:16:00.758 --> 00:16:06.038 We did not include the March EFU index in the last news, so we now have two for you. 00:16:06.058 --> 00:16:09.278 EFU Business Climate Index, I was just talking about it. A key indicator of 00:16:09.278 --> 00:16:13.398 German economic sentiment showed only a slight improvement in March 2025, 00:16:14.098 --> 00:16:21.438 and the business outlook for April 2025 also reveals a continued positive trend 00:16:21.438 --> 00:16:22.598 among German businesses. 00:16:22.758 --> 00:16:25.618 Expectations are improving, especially among industrial producers, 00:16:26.098 --> 00:16:29.198 despite all the ongoing geopolitical uncertainty. 00:16:29.198 --> 00:16:35.718 German household wealth increased nominally in 24, but inflation adjusted figures 00:16:35.718 --> 00:16:40.658 show real purchasing power declined, says a Bundesbank study, 00:16:41.298 --> 00:16:42.358 so a German central bank. 00:16:42.838 --> 00:16:49.318 Wealth inequality in Germany also remains unchanged. So Germany being a relatively low. 00:16:50.291 --> 00:16:55.951 Wealth, like, distributes wealth relatively equal compared to other countries, 00:16:56.171 --> 00:17:00.751 but the indifferences are, the differences are bigger, I think, 00:17:00.891 --> 00:17:05.151 than a lot of Germans would actually believe of the country themselves. 00:17:07.051 --> 00:17:12.471 Female founders are still underrepresented, according to the Female Founders Monitor 2025. 00:17:12.791 --> 00:17:17.091 The report covered by Starting Up reveals a slight increase in women-led startups, 00:17:17.291 --> 00:17:21.311 but it stresses also the need for more systemic support and funding and leadership. 00:17:21.571 --> 00:17:26.911 And I think adding to that, as we always see, it's not only a gender problem. 00:17:26.911 --> 00:17:30.451 I think it's also usually a problem in terms of the background. 00:17:31.131 --> 00:17:34.691 Are there enough migrants in the startup community? Are there enough people 00:17:34.691 --> 00:17:39.771 who experience poverty in their socialization? 00:17:40.131 --> 00:17:47.671 So, So yeah, usually the startup scene is catering to white males in Germany, 00:17:47.691 --> 00:17:48.971 as in many other countries. 00:17:49.191 --> 00:17:53.991 In Switzerland, we don't see anything new, but in Austria, we see the Tesla 00:17:53.991 --> 00:17:58.851 subscription declines in Vienna affects multiple local startups with user fatigue 00:17:58.851 --> 00:18:02.671 and Elon Musk polarizing moves cited as causes. 00:18:02.891 --> 00:18:08.811 Their standard, an renowned Austrian newspaper reports a downward trend in urban e-mobility. 00:18:10.255 --> 00:18:16.255 Moving on from the countries to our general news section, where we have the 00:18:16.255 --> 00:18:17.855 tech news and the company's news section, 00:18:18.095 --> 00:18:24.015 we have organized this in several verticals, and we start with VC news and new 00:18:24.015 --> 00:18:25.875 funds in case you're looking for money. 00:18:26.655 --> 00:18:29.855 As always, this is only a selection. We also had to cut it short. 00:18:30.055 --> 00:18:35.815 In the show notes, there's more of these. But we start with private equity growth 00:18:35.815 --> 00:18:43.135 continuing as Oakley Capital closes its flagship fund six at 4.5 billion euros, 00:18:43.335 --> 00:18:44.575 hitting the fund's hard cap. 00:18:45.035 --> 00:18:49.635 My Juncker Group reports that the London-based PE firm will target technology, 00:18:50.035 --> 00:18:52.715 consumer and education companies across Europe. 00:18:53.615 --> 00:19:01.815 The Duffney Fund's closing secures €215 million for its third fund, 00:19:02.055 --> 00:19:07.155 aiming to back European startups with a strong tech and design edge. 00:19:07.295 --> 00:19:10.835 TechCrunch profiles the firm's ongoing investment strategy in our show notes. 00:19:11.615 --> 00:19:17.155 Compass VC Fund 2 raises €150 million, focusing on early-stage tech startups 00:19:17.155 --> 00:19:18.555 with sustainability goals. 00:19:19.695 --> 00:19:25.035 The Berlin-based venture capital firm aims to scale impact-driven companies, writes StartBase. 00:19:26.215 --> 00:19:31.375 Revenz, 100 million euro impact fund, is targeting startups focused on climate and social impact. 00:19:32.455 --> 00:19:35.855 Blending AI with mission-driven business models, as they say. 00:19:36.335 --> 00:19:40.655 Based in Berlin, the VC firm is seeking planet-positive returns from its new funds. 00:19:40.875 --> 00:19:46.535 So an interesting way probably also to look into how they are actually measuring this. 00:19:46.535 --> 00:19:56.435 TechCrunch has some more details in their report article about this. 00:19:59.609 --> 00:20:04.909 And that's it to keep the VC funds short. And we move on to Greentech. 00:20:05.369 --> 00:20:10.309 Yes, Greentech news. Greentech leadership in Switzerland is recognized as the 00:20:10.309 --> 00:20:14.269 country earns a top spot in Time's global Greentech innovation ranking. 00:20:14.709 --> 00:20:19.989 Startup Ticker.ch highlights sustainable energy solutions and climate startups 00:20:19.989 --> 00:20:28.769 as drivers. NPAS secures 110 million equity led by Texas Pacific Group TPG. 00:20:29.629 --> 00:20:34.549 Three things to know about the German solar unicorn. 00:20:36.229 --> 00:20:42.909 AI News. Black Forest Labs, a Berlin-based AI startup, has ended its collaboration 00:20:42.909 --> 00:20:49.149 with Elon Musk's ex-AI project, citing divergent goals in synthetic data development. 00:20:49.149 --> 00:20:55.549 The partnership was originally aimed at integrating generative AI into privacy-preserving solutions. 00:20:56.149 --> 00:21:02.689 Business Insider covers this topic. Startup reshuffle in AI continues with several 00:21:02.689 --> 00:21:06.969 new ventures emerging across Germany, including Reshape Energy, 00:21:07.209 --> 00:21:09.429 Senior Connect, and Naisu. 00:21:09.629 --> 00:21:14.729 These startups tackle climate, elderly care, and B2B productivity more on deutsche startups. 00:21:14.729 --> 00:21:20.309 There's a fake AI scandal rocks fintech startup Nate as Business Insider reports 00:21:20.309 --> 00:21:25.989 on a policy investigation into its CEO of alleged investor deception involving 00:21:25.989 --> 00:21:28.009 non-existing AI capabilities. 00:21:28.729 --> 00:21:33.909 And government funding summary outlines strategic goals and startup initiatives in Saxony. 00:21:34.169 --> 00:21:38.789 The official Saxon publication provides a detailed overview of the ongoing regional 00:21:38.789 --> 00:21:42.849 programs and funding allocations. This time, for the first time, 00:21:43.009 --> 00:21:45.729 we do have space tech news because there was such a lot. 00:21:47.078 --> 00:21:53.978 We do have Atmos Space Cargo launch marks a milestone for Germany's private aerospace industry. 00:21:54.158 --> 00:21:58.798 Founder Magazine reports the successful orbital test positioning the Munich-based 00:21:58.798 --> 00:22:01.338 startup as lead in reusable payloads. 00:22:01.618 --> 00:22:07.518 ESA aerospace safety risk highlights in BFNZ, meaning Bavarian broadcaster, 00:22:07.898 --> 00:22:15.318 the News Channel 24, on rocket engineering flaws concerning growth over component 00:22:15.318 --> 00:22:19.198 integrity and system failures as testing continues in Bavaria. 00:22:19.358 --> 00:22:23.998 But here's an interesting piece because we find the same news from a different 00:22:23.998 --> 00:22:26.578 source on ESA Aerospace from a startup medium. 00:22:26.838 --> 00:22:31.398 And there they say ESA Aerospace milestone documented by trending topics as 00:22:31.398 --> 00:22:35.098 the Munich-based startup continues its mission to commercialize European spaceflight. 00:22:35.098 --> 00:22:39.118 The feature highlights ESA's rocket development and Germany's growing present 00:22:39.118 --> 00:22:42.458 in orbital launch markets. Sounds pretty different, right? 00:22:43.038 --> 00:22:50.558 Spectrum rocket delay announced by German startup RFA due to its unresolved technical issues. 00:22:50.698 --> 00:22:54.938 Deutschlandfunk reports the postponement as a part of ongoing challenges in 00:22:54.938 --> 00:22:56.818 the European space race. 00:22:56.998 --> 00:23:00.098 And that means rocket factory Augsburg RFA. 00:23:00.978 --> 00:23:05.238 Biotech news. Keep in mind that biotech is not our focus. 00:23:05.398 --> 00:23:11.638 That's why we will have later also a few big biotech funding news that didn't 00:23:11.638 --> 00:23:13.018 make it into our highlights. 00:23:13.158 --> 00:23:17.978 Basel Life Sciences ecosystem is evolving into a biotech powerhouse supported 00:23:17.978 --> 00:23:21.638 by private-public initiatives and pharma cluster development. 00:23:21.958 --> 00:23:24.798 Transcript emphasizes the region's strategic importance. 00:23:25.318 --> 00:23:31.038 QVAC Patent Victory provides a partial relief in its legal battle with BioNTech, 00:23:31.158 --> 00:23:37.918 with the European Court recognizing aspects of its mRNA IP claims. 00:23:38.398 --> 00:23:43.098 Medigen insolvency reflects funding pressure in biotech as the immunotherapy 00:23:43.098 --> 00:23:45.918 fails to secure bridge financing. 00:23:46.478 --> 00:23:51.098 Clinical Trials Map of Europe is launched to improve transparency and patient access. 00:23:52.389 --> 00:23:58.669 Siemens Biotech Deal involves a strategic acquisition to add a truck discovery 00:23:58.669 --> 00:24:02.949 signal against the conglomerate's deeper push into life sciences. 00:24:03.909 --> 00:24:08.369 Max Planck Society Roadmap outlines a 10-point policy proposal for Germany's 00:24:08.369 --> 00:24:13.589 new federal government advocating for improved innovation frameworks and science funding. 00:24:13.669 --> 00:24:18.209 By the way, there will be a news piece coming up between this recording and 00:24:18.209 --> 00:24:25.849 the actual publication where I talk about what I see in the new coalition contract. 00:24:26.109 --> 00:24:28.309 A little hint, not a lot about startups. 00:24:28.669 --> 00:24:36.329 It's 185 pages and startups and digital innovation only start at page 139 and 00:24:36.329 --> 00:24:38.409 they only cover a few lines. 00:24:38.989 --> 00:24:44.149 Let's go on to fintech news. Private banking fintech solutions are gaining traction 00:24:44.149 --> 00:24:49.829 among Europe's wealth managers, says Sifted. Keep in mind the news with the 00:24:49.829 --> 00:24:51.169 outages at Trade Republic. 00:24:51.529 --> 00:24:58.349 PayPal phishing scams using legitimate-looking email domains are on the rise, warns How2Geek. 00:24:59.009 --> 00:25:04.409 Barvest, a Munich-based fintech, partners with eToro as a global broker client. 00:25:04.689 --> 00:25:09.689 Trending topic highlights the significance of the deal for German fintech visibility. 00:25:10.429 --> 00:25:15.329 Penny Lane expansion aims to broaden its accounting platform reach in the German 00:25:15.329 --> 00:25:16.909 market, Finance Forward reports. 00:25:17.489 --> 00:25:22.209 Revolut Switzerland suppresses one million customers, reinforcing its stronghold 00:25:22.209 --> 00:25:24.049 in the European fintech expansion. 00:25:24.289 --> 00:25:29.109 And we will be back with Chris with the general news after a little ad break. 00:25:36.869 --> 00:25:42.969 Welcome back after the break. As Joe said before the break, we are back with general news. 00:25:43.629 --> 00:25:47.829 Germany's richest tech entrepreneur has been identified by Business Insider, 00:25:48.309 --> 00:25:51.509 shedding light on the pathways to massive tech wealth in the country. 00:25:51.789 --> 00:25:56.089 The report focuses on personal fortune and business legacy. 00:25:56.589 --> 00:26:03.409 And if German listeners are curious what his name is, I was actually surprised. 00:26:03.589 --> 00:26:10.109 His name is Andreas von Bechtholzheim, one early investor in Google. 00:26:10.969 --> 00:26:13.909 Yeah, but he's also the co-founder of Sun Microsystems, I do believe. 00:26:14.249 --> 00:26:17.729 And they say he is worth 13 billion euro. 00:26:19.789 --> 00:26:23.569 Germany's richest sports entrepreneur is also profiled in Business Insider, 00:26:23.669 --> 00:26:27.789 tracing his journey from athlete to billionaire through strategic investment. 00:26:29.409 --> 00:26:34.969 And he is valued at 1.7 billion euros. 00:26:34.969 --> 00:26:45.749 And one of the guys between bet and win, today Bwin, which is now listed in 00:26:45.749 --> 00:26:48.629 the stock exchange in Vienna. 00:26:52.165 --> 00:26:57.665 Entrepreneur Radar spotlights Otto's potential downfall, analyzing the shifting 00:26:57.665 --> 00:26:59.865 dynamics in Germany's e-commerce landscape. 00:27:00.085 --> 00:27:03.965 We often talked about Otto because it is actually a quite successful business 00:27:03.965 --> 00:27:10.705 case and actually a legacy company that was able to reinvent itself in the digital market. 00:27:10.925 --> 00:27:13.245 But now Digital Kaufmann raises 00:27:13.245 --> 00:27:16.985 concerns about legacy players adapting to modern startup competition. 00:27:17.265 --> 00:27:20.705 Otto so far has been the only large catalog mailing service to make the jump 00:27:20.705 --> 00:27:24.885 into e-commerce. but they have also been an active investor and acquirer in e-commerce. 00:27:25.205 --> 00:27:28.825 Some investments of the Otto Group are tracked by Startup Map. 00:27:29.025 --> 00:27:31.305 Both of the articles are in our show notes. 00:27:32.205 --> 00:27:36.665 Gold fraud investigation implicates investor Florian Fritsch with allegations 00:27:36.665 --> 00:27:42.965 of up to 14 kilograms of gold being siphoned from his firm. 00:27:43.065 --> 00:27:46.045 Yahoo Finance Germany reports on this high-profile case. 00:27:47.045 --> 00:27:54.665 Cyclotech successful test flight of a six rotor air taxi in Linz might redefine urban air mobility. 00:27:55.225 --> 00:27:58.025 FutureZone has a bit more about this. 00:27:58.685 --> 00:28:00.925 News piece from Austria. 00:28:01.685 --> 00:28:10.165 Then German Sunicorns are spotlighted and sifted 2025 lists of 10 companies 00:28:10.165 --> 00:28:16.525 or startups that might become unicorns soon, including rising stars across deep tech, fintech, and AI. 00:28:17.845 --> 00:28:21.985 Bundeswehr, the German military satellite plans, include launching a German 00:28:21.985 --> 00:28:25.725 rival to Starlink for more secure military communications. 00:28:26.685 --> 00:28:32.645 The Stadt Bremerhaven website reveals details of this strategic defense investment. 00:28:32.905 --> 00:28:38.105 By the way, that's just a tag block that has nothing to do with the actual city, yeah? Yeah. Yeah. 00:28:38.965 --> 00:28:44.605 And then Bundeswehr AI projects show enormous potential in transforming Germany's defense sector. 00:28:44.845 --> 00:28:48.165 With ongoing research and development supported by government initiatives, 00:28:48.345 --> 00:28:52.945 Handelsblatt is outlining the scope and future impact of these technologies. Yeah. 00:28:54.190 --> 00:28:58.890 Also, again, in the defense sector, startups are increasingly opting out of 00:28:58.890 --> 00:29:02.210 relaunch strategies due to bureaucratic and funding hurdles. 00:29:03.610 --> 00:29:08.930 We see there in a report by Handelsblatt that there are systemic barriers in fostering innovation. 00:29:09.870 --> 00:29:14.630 Axel Springer's Idealo CEO resigns amid allegations marking a leadership shakeup 00:29:14.630 --> 00:29:17.230 at the Berlin-based price comparison platform Idealo. 00:29:19.690 --> 00:29:23.510 Internal pressures and reputational fallout are being reported. 00:29:24.190 --> 00:29:31.150 Auto Hero celebrates the milestone surpassing a quarter million cars sold. 00:29:31.870 --> 00:29:37.030 IT Times notes that the Berlin-based used car platform continues to scale rapidly across all of Europe. 00:29:38.850 --> 00:29:45.710 Home to Go's financial outlook signals strong growth with projected IFRS revenue 00:29:45.710 --> 00:29:52.810 above 300 million euros and an adjusted EBITDA over 35 million euros in 2025. 00:29:52.810 --> 00:29:54.890 It's a Berlin-based travel tech company. 00:29:55.850 --> 00:30:00.730 Mr. Speck's transformation remains on track with profitability for the Berlin-based 00:30:00.730 --> 00:30:04.210 eyewear startup expected to rise sharply in 2025. 00:30:05.210 --> 00:30:09.410 They also are now pursuing a digital first strategy that seems to pay off. 00:30:10.270 --> 00:30:16.710 Cyber security contract award goes to Frankfurt-based startup from the EU cybersecurity 00:30:16.710 --> 00:30:24.010 agency, highlighting Germany's tech defense capabilities, reported by Startup Hessen. 00:30:25.010 --> 00:30:33.610 And a carbon dioxide concrete storage breakthrough seems to be launched in Vienna by Holcim and Neustag. 00:30:33.830 --> 00:30:36.170 Holcim, I guess, with a C. 00:30:37.010 --> 00:30:41.650 Trending topics highlights Europe's first installation of a carbon-storing cement cement, 00:30:42.172 --> 00:30:47.352 driving innovation in green construction. Jochen Schweitzer exits his namesake 00:30:47.352 --> 00:30:51.592 experience platform with ProSiebenSat1 acquiring for ownership. 00:30:53.112 --> 00:30:59.972 Yeah, Jochen Schweitzer, some kind of, it was like a platform where you could 00:30:59.972 --> 00:31:02.612 just buy experiences and activities. 00:31:03.092 --> 00:31:06.792 Like ParachuteJump, BungeeJump or stuff like this. 00:31:07.152 --> 00:31:11.952 Yes. And now it was bought by ProSiebenSat1, which is a German private broadcaster. 00:31:13.032 --> 00:31:17.752 Startup ecosystem insights explored in a new blog post by VC magazine, 00:31:18.112 --> 00:31:25.492 identifying key enablers for funders and investors in 2025, stressing the importance 00:31:25.492 --> 00:31:27.172 of trust and access in the system. 00:31:27.652 --> 00:31:31.712 And then Jägermeister, the German liquor defeat in a startup trademark dispute, 00:31:32.012 --> 00:31:34.532 ends with the beverage giant losing a branding conflict. 00:31:34.852 --> 00:31:37.772 Founders magazine explores the legal win for a challenger brand. 00:31:38.832 --> 00:31:45.612 And we see a leadership change at Deutsche Giganets as founder Jan-Georg Budden unexpectedly resigns. 00:31:45.752 --> 00:31:51.192 More about this can be found in an article from Golem, which also reports internal 00:31:51.192 --> 00:31:56.792 disagreements that may have contributed to the departure from the German fiber optic provider. 00:31:57.092 --> 00:32:00.232 And now creative destruction, layoffs, insolvencies. 00:32:01.546 --> 00:32:04.966 And other bad news. Yes, Schumpeter's Kreative Zerstörung. 00:32:05.166 --> 00:32:08.706 Keep in mind, this article is not from us. It's from Manager Magazine, 00:32:08.946 --> 00:32:10.966 a well-respected periodical here in Germany. 00:32:11.406 --> 00:32:17.126 Startup zombie warning surface for former high-fliers like Foto, Zorara, Inc. Central. 00:32:17.346 --> 00:32:22.206 As the valuation and relevance sharply decline, Manager Magazine raises questions 00:32:22.206 --> 00:32:26.706 about sustainability in the startup ecosystem. Zalando layoffs affect hundreds 00:32:26.706 --> 00:32:30.986 of employees at the Berlin-based fashion platform as part of a broader cost 00:32:30.986 --> 00:32:32.166 restructuring initiative. 00:32:32.606 --> 00:32:36.666 Max Mobility Bankruptcy confirmed, adding to the string of startup closures. 00:32:37.226 --> 00:32:41.366 Salzburger Beverage Startup files for bankruptcy after financial struggles. 00:32:41.506 --> 00:32:45.586 Prudcast covers the insolvency, which reflects on the broader funding challenges 00:32:45.586 --> 00:32:48.106 in Austria's consumer goods sectors. 00:32:48.546 --> 00:32:52.246 Komod Restructuring following its acquisition by an Italian firm. 00:32:52.246 --> 00:32:56.626 Business Insider reports the Potsdam-based outdoor startup plans to cut over 00:32:56.626 --> 00:33:00.086 50% of its workforce in a major realignment. 00:33:00.626 --> 00:33:04.906 Photo layoffs continue as Berlin-based logistics startup reduces headcount again. 00:33:05.206 --> 00:33:09.566 Business Insider reports this move reflects financial strain and changing demand 00:33:09.566 --> 00:33:12.146 in European e-commerce fulfillment. 00:33:13.026 --> 00:33:17.166 I have an interview with the founder who's now a member of the supervisory board. 00:33:17.166 --> 00:33:22.466 But keep in mind, they have been mostly dealing with imports from China with container shipment. 00:33:23.086 --> 00:33:29.426 McMarkler, under investigation as prosecutor, scrutinized the Berlin prop tech firm amid layoffs. 00:33:30.026 --> 00:33:34.866 Dr. Lee bankruptcy declared by a Berlin-based health tech startup after financial difficulties. 00:33:35.466 --> 00:33:42.166 Kemper Van outfitter insolvency hits Vienna-based startup easygoing with a C at the end. 00:33:42.846 --> 00:33:47.886 As it ends operations following a failed restructuring attempt. 00:33:48.426 --> 00:33:50.746 And now, Chris, you end on a high note for us, right? 00:33:51.446 --> 00:33:53.166 Almost, almost, almost. 00:33:55.146 --> 00:34:01.106 Yeah, so keep in mind, this section about successful fundraising and exits is only a small selection. 00:34:01.446 --> 00:34:05.546 But the news here and their total value show how resilient the startup scene is. 00:34:06.106 --> 00:34:09.866 So let's rattle off some of the selected fundraising above 10 million euros, 00:34:10.326 --> 00:34:11.486 Swiss francs or US dollars. 00:34:12.166 --> 00:34:16.706 The biotech financing boom continues with Swiss-based Moon Lake Immunotherapeutics 00:34:16.706 --> 00:34:21.226 securing up to $500 million in funding from Hercules Capital to strengthen its 00:34:21.226 --> 00:34:22.586 autoimmune disease pipeline. 00:34:23.166 --> 00:34:28.366 Granite Bio, a biotech firm integrating AI and drug discovery based in Basel, 00:34:28.446 --> 00:34:34.266 Switzerland, raised $100 million to support its therapeutic pipeline targeting 00:34:34.266 --> 00:34:35.746 immune system modulation. 00:34:37.231 --> 00:34:41.171 HAWK raised 52 million euros for its fraud prevention tools, 00:34:41.191 --> 00:34:43.931 while Brighter AI finalized an exit. 00:34:44.891 --> 00:34:50.971 FlexValop financing raises 44 million euros to scale its B2B equipment leasing 00:34:50.971 --> 00:34:53.351 solution for startups and SME. 00:34:54.671 --> 00:35:01.571 Solix, an AI-powered data management platform, raised $29.5 million to expand enterprise adoption. 00:35:02.431 --> 00:35:07.991 The funding enables enhancements in unstructured data indexing and AI model integration. 00:35:08.411 --> 00:35:13.911 The robotic startup Symbiotic, a startup based in Berlin, has secured $29 million 00:35:13.911 --> 00:35:19.011 in a Series A funding to scale its AI-driven automation platform for warehouse logistics. 00:35:20.411 --> 00:35:25.411 Binomics, which is a Cologne-based startup specializing in virtual shoppers 00:35:25.411 --> 00:35:31.091 and pricing AI, secured €27.5 million to expand its platform. 00:35:31.571 --> 00:35:35.291 That will allow them to fund scaling across European retail markets. 00:35:35.891 --> 00:35:40.571 Digital identity verification sees a boost as the Hamburg-based startup NECT, 00:35:40.711 --> 00:35:46.311 NECT, secures 25 million euros for its AI-powered onboarding solutions. 00:35:47.711 --> 00:35:52.871 Also expected to fuel international expansion. Yes, because that is one of the 00:35:52.871 --> 00:35:57.271 cases where you most likely never heard of our guests, but you will in the future. 00:35:57.271 --> 00:36:01.791 We had a few years ago an interview with the NECT founder. 00:36:02.231 --> 00:36:05.091 We also link it here. Sorry, Chris. Henning, over back to you. 00:36:06.611 --> 00:36:11.531 ICU technology is getting a major upgrade as German medtech startup Klinomics 00:36:11.531 --> 00:36:14.911 secures 23 million euros to enhance an AI-based Dr. 00:36:15.111 --> 00:36:18.931 Mona system for intensive care units. Yes. 00:36:19.181 --> 00:36:21.981 Allowing them to expand hospital partnerships across Europe. 00:36:22.321 --> 00:36:26.281 Hepatic treatment innovation accelerates as HEPA Redgenix, 00:36:26.821 --> 00:36:31.761 a biotech firm from Tübingen, Germany close to Stuttgart and they close at 21.5 00:36:31.761 --> 00:36:36.561 million euro in funding to advance its regenerative therapies for liver diseases. 00:36:37.681 --> 00:36:42.181 Dalma, a pet startup, raises 20 million euros to expand its European footprint. 00:36:43.001 --> 00:36:47.861 The French-born company's backers and growing demand for digital pet insurance 00:36:47.861 --> 00:36:56.481 and services are among the highlighted aspects in a Business Insider article regarding this topic. 00:36:57.821 --> 00:37:02.401 Do Instruct, a Berlin-based AI training software startup secured 16.5 million 00:37:02.401 --> 00:37:07.181 euros in a Series A funding to expand its industrial training simulations powered by Gen AI. 00:37:08.941 --> 00:37:14.181 Space tech startup Okapi Orbitz, a company from Braunschweig in central Germany, 00:37:14.361 --> 00:37:21.141 raises 13 million euros in seed funding to expand its space traffic management platform. 00:37:22.021 --> 00:37:27.041 The round, as reported by FinnsMess, was led by San Francisco-based Munich Re 00:37:27.041 --> 00:37:34.501 Ventures and strengthens Okapi Orbit's mission to prevent orbital collisions. 00:37:34.841 --> 00:37:37.141 I think a problem that is actually growing. 00:37:37.981 --> 00:37:42.521 Killer Drone Investment sees Peter Thiel backing German defense startup Stark. 00:37:43.981 --> 00:37:48.761 Manager Magazine details the firm's controversial push into autonomous weapons 00:37:48.761 --> 00:37:55.681 and now last but not least some mergers and acquisitions and some IPOs we wanted to highlight. 00:37:57.252 --> 00:38:02.952 Yes, and then at the end, Chris, you get the useless facts. I think they're pretty funny. 00:38:03.372 --> 00:38:06.212 Synthetic mergers, acquisitions, and IPOs. 00:38:06.692 --> 00:38:13.292 Synthetic data startup Kretel has been acquired by NVIDIA to bolster its synthetic 00:38:13.292 --> 00:38:15.452 data and AI capabilities. 00:38:15.452 --> 00:38:21.072 Prior to AI, a Berlin-based deep tech startup focused on GDPR-compliant visual 00:38:21.072 --> 00:38:25.792 anonymization, has been acquired by Danish Milestone Systems after reportedly 00:38:25.792 --> 00:38:27.732 attracting interest from Apple. 00:38:28.592 --> 00:38:33.232 Latido, a Vienna-based health tech startup, acquires 4MyHealth, 00:38:33.252 --> 00:38:40.892 4 like the number, to strengthen its SAS SaaS solutions for medical practice management. 00:38:41.692 --> 00:38:47.392 DeepL IPO plans are now targeted for 2026, positioning the German AI translation 00:38:47.392 --> 00:38:49.592 leader for major public debut. 00:38:50.392 --> 00:38:55.172 WellHub Urban Sports Club merger unites two major fitness and well-being platforms 00:38:55.172 --> 00:38:59.152 in a move to consolidate your wellness tech market. 00:38:59.392 --> 00:39:03.632 Hamburg X-Ray Empire Acquisition sees a prominent family, invest in medical 00:39:03.632 --> 00:39:08.792 diagnosis infrastructure, continue the city's legacy in health tech leadership. 00:39:09.432 --> 00:39:14.092 Lunar dust solar cells could one day provide sustainable energy on the moon 00:39:14.092 --> 00:39:18.052 as researchers explore extraterrestrial photovoltaic solution. 00:39:18.352 --> 00:39:20.752 Basic thinking shares the future vision. 00:39:21.512 --> 00:39:25.292 ContentServe and Centric Software announce a partnership to enhance product 00:39:25.292 --> 00:39:29.912 lifecycle and information management aiming to serve global fashion and retail brands. 00:39:30.432 --> 00:39:37.392 Trala Music Education expands by acquiring Scove, integrating digital music training for learners. 00:39:37.392 --> 00:39:40.232 And spec markets that's actually 00:39:40.232 --> 00:39:43.232 international but still relevant to the global 00:39:43.232 --> 00:39:48.472 startup market spec market trends show a four billion u.s dollar wave despite 00:39:48.472 --> 00:39:53.552 ipo struggles as reported by payments analysts point to the continued investor 00:39:53.552 --> 00:39:58.252 interest in alternative funding mechanisms and chris you have the last news 00:39:58.252 --> 00:40:01.032 piece which may be uh good as a conversation. 00:40:02.212 --> 00:40:05.812 I was going to say, I'm very sure that you're going to use this information 00:40:05.812 --> 00:40:10.552 for whatever conversation you will be getting stuck in in the next couple of weeks, 00:40:10.552 --> 00:40:18.552 because we found a little article that actually told us who is the largest tire 00:40:18.552 --> 00:40:21.932 manufacturer by volume in the world. 00:40:22.372 --> 00:40:26.312 And it is not continental. It is not like Chevrolet or whatever. 00:40:26.612 --> 00:40:28.192 It is no car manufacturer. 00:40:28.812 --> 00:40:30.452 Michelin. It's not Michelin. 00:40:31.252 --> 00:40:35.432 But it is as playful as the Michelin men, I would say. 00:40:36.152 --> 00:40:45.592 So a feature by Kuruba actually highlighted that the world's largest tire manufacturer by volume is Lego. 00:40:47.072 --> 00:40:50.652 I had them on my radar. 00:40:52.612 --> 00:40:56.972 It's a little bit surprising. Guys, that's a new startup wrap. 00:40:57.532 --> 00:41:03.312 There's more news they had of the curve. And as we said, we will be back at 00:41:03.312 --> 00:41:09.572 the end of May on for this day to give you another dose of startup news. 00:41:09.792 --> 00:41:15.932 And again, this time it's incomplete. We did ban a lot of our news to the blog 00:41:15.932 --> 00:41:17.732 posts you can find down here in the show notes. 00:41:18.072 --> 00:41:22.572 Thank you, Chris. It was a pleasure talking to you as always. Thank you too. Bye bye. 00:41:23.120 --> 00:41:52.917 Music.