With the weekend ahead, we’ve put together the most important news from the past week for you to stay on top of what happened in the German startup scene.
Rocket Internet raises a $1.1 billion venture fund for late-stage companies
According to the German economy magazine WirtschaftsWoche, Berlin-based company builder Rocket Internet raises a $1.1 billion round for late-stage startups. Apparently it will be called “Rocket Internet Growth Fund”.
Scalable Capital announces investment
Munich-based fintech startup Scalable announces its investments. €4 million were raised in January and April and came from Monk’s Hill Ventures, German Startups Group and MPGI. It was led by Holtzbrinck Ventures. Business Angels Reiner Mauch, Rahul Mehta from DST Global, and Steffen Pauls also joined. The startup developed a technology for investment strategy.
Xing’s valuation hit €1 billion
Xing, the German version of LinkedIn, was founded 2003 in Hamburg. On Tuesday, August 11, 2015, the stockprice went up to €181 each, which makes the company worth €1.02 billion. Xing went public in 2006. In 2009, founder Lars Hinrichs sold most of his shares. At that time one was worth about €36.
Wired names Berlin’s top startups
Looking at the European startup industry, Wired also focussed on Berlin’s companies and names Germany’s capital’s top startups.
Energy provider EWE buys Grünspar
Münster-based SaaS and e-commerce startup Grünspar sold 90 percent of its stocks to Oldenburg-based energy provider EWE. Grünspar explains how to save energy and sells energy saving products. EWE wants to integrate its own white label solution based on Grünspar’s offers on its website.
EWE paid a low eight-digit amount. More information about the deal remain undisclosed.
Dating startup Spotted raises second round
Mannheim-based dating startup Spotted announces a second investment round. Besides existing investors Media Ventures and Wolfman Holdings, Heidelberg-based Deutsche Balaton AG joined the round. Spotted raised a seven-digit amount that will be invested in growth. More details remained – as so often – undisclosed.