This Week in Germany: bankruptcy, investments, acquisitions

Lampuga, once a crowd funding success story, filed for bankruptcy.

The biggest news in German startups this week!

Vimcar closes €5 million seed round

The Berlin startup Vimcar announced raising €5 million in a successful seed round with the help of Venture Capital Partners, a VC based in Munich that previously invested in Flixbus. The startup plans to use the money to expand its product offerings, they shared.

[Gründerszene] (German)

Nestlé buys up Munich-based pet food startup

Nestlé bought up Terra Canis, a Munich startup that specializes in high-quality pet food.  The startup, with 30 employees, generated €17 million in sales in 2016. Terra Canis’ sales revenue is expected to reach €20 million this year.

[Gründerszene] (German)

Logistics startup Fliit raises €1.5 million

The Berlin-based startup Fliit, who wants to help food suppliers deliver their products with their platform, raised €1.5 million. IBB Beteiligungsgesellschaft helped the 1-year-old startup in their seed round, as did PDV Inter-Media Venture, WestTech Ventures and b10. A number of unnamed business angels also participated in the round.

[Gründerszene] (German)

More money for FinTech startup Savedroid

Savedroid, a Frankfurt-based FinTech startup, announced raising money with the help of previous investors, but did not share how much. According to Savedroid’s press release, the startup is valued at €20 million. Business angels, including the founder of Traxpay, Debit Chaudhuri, and Investitions- und Strukturbank Rheinland-Pfalz, were among those who helped the young company.

[Gründerszene] (German)

E-sports legend collects $6 million

Berlin founder Jens Hilgers collected $6 million for his e-sports startup, Dojo Madness. The startup, founded in 2014, offers coaching and analytics for online players. The round was led by Raine Ventures, with existing investors March Capital and DN Capital participating, as well as K Cube Ventures. The startup, which has raised $12.75 million total, plans to use the money to grow its data-related projects.

[Gründerszene] (German)

Immobilienscout24 invests in Berlin startup

Immobilienscout24, an apartment search portal, has invested a small million euro amount in WG-Suche.de, a Berlin-based portal, in exchange for 25 per cent of the startup.The deal will help Immobilienscout24, a Munich-based portal, target younger markets.

[Gründerszene] (German)

Konux rakes in millions more

The Munich-based IIoT startup Konux raked in millions more in a Series A round, with help from well-known investors. The startup helps clients monitor their infrastructure using artificial intelligence. Google investor Andreas von Bechtolsheim, and serial founder Michael Baum, participated in the round as did business angels Warren Weiss and Lothar Stein. Other investors include New Enterprise Associates, MIG, Upbeat Ventures and UnternehmerTUM. The startup secured a total of $9.5 million in two rounds.

[Gründerszene] (German)

Electric surfboard startup announces bankruptcy

The Hamburg-based startup Lampuga, who wowed crowd investors and press with their electric surfboard, has gone bankrupt. Despite raising €820,000 in 2015 and another €3.5 million in December 2016, the startup was unable to make the business model work.

[Gründerszene] (German)

Photo credit: Lampuga

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