Start-ups
Nine-Figure Financing Deals Back for German Startups
A quartet of young companies from Germany raised large sums of capital – here's the lowdown in our bimonthly review of top VC deals.
Aug 25, 2023
Maxsolar, Traunstein (Bavaria), renewable energy, EUR 410 Million
This new player in the solar power sector specializes in developing photovoltaic systems on open patches of land and rooftops of commercial buildings. It says it will use its recent cash haul to create two gigawatts of additional solar power.
Egym, Munich, fitness, EUR 297 million
This fitness startup already has a network of more than 7800 exercise options in Germany and Austria and is seeking to expand even further. The company is valued at EUR 600 million.
Lillium, Munich/Wessling, aviation, USD 192 million
The sustainable air taxi company filled its coffers with a mixture of funds from VC investors, increading Tencent and Earlybird, and shares sold through a US bank. Lillium says the fresh funds will help it achieve its goal of making its first manned flight of the type-conforming aircraft by the second half of 2024.
Aleph Alpha, Heidelberg, artificial intelligence, EUR 150 million
This AI start-up from Germany’s southwest enjoyed a smart round of Series B financing that included Intel, Nvidia and SAP. It’s developing a language application called Luminous capable of writing texts and responding to questions that’s considered a European answer to ChatGPT.
