Top Startups / February 14, 2024
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

Top German Startups to Watch in 2024

Germany is one of the world's richest countries and the EU's largest budget contributor. As such, it stands to reason that Germany has one of the most developed startup ecosystems worldwide. Germany is also the only European country to have three of its cities rank among the top 10 financial centres in Europe. As a result of this, Germany's numerous VC firms run more than 1300 VC funds, serving various startup sectors across the country. In addition to this, there are more than 300 incubators and accelerators for early-stage startups. This provides bountiful opportunities for Germany startups to receive funding and guidance at all stages of their growth.

In addition to proactive investors and a well-developed private sector, the German government also involves itself directly in the development of its startup ecosystem. It achieves this through a network of grants and support programs that can assist with early barriers to entry and initial development. Furthermore, the German government has recently pledged an additional 1.75 Billion Euros to support German startups developing emerging technologies. The presence of both private and public sector funding contributes heavily to the success of startups in Germany.

Whilst Berlin accounts for a large portion of Germany's startup ecosystem, being valued at $100 Billion in 2022, Germany benefits from having strong startup hubs in other major cities. For example, Frankfurt and Munich's ecosystems are valued at $11 Billion and $54 Billion respectively. Having developed startup ecosystems in multiple cities promotes entrepreneurship and innovation across Germany, leading to the creation of more high-value startups.


1. Packmatic

Year Founded: 2021

HQ: Berlin, Germany

Size: 11-50

Founders: Paul Schraven, Jonas Boland, Tobias Linnardi, Matthias Geiss

Packmatic is a German startup that was founded in 2021 and is currently based in the capital city, Berlin. It provides a solution that allows you to explore and find the best suppliers for packaging your products, based on the points that are most relevant to you- such as costs, location of the supplier and capabilities. You will be guaranteed to save both time and 16% of your expenses on average for your packaging. You can get set up with your order within 60-minutes and after completing your order, you'll be up and running within 2-4 weeks. Packmatic has rapidly developed a customer list with hundreds of satisfied users in its three years of trading.

Packmatic has recently launched a funding round to support its future growth and additional development of its SaaS solution. This Series A round took place in January 2024 and allowed it to raise a total of 15 Million Euros in startup funding. This funding round was led by EQT Ventures and will facilitate Packmatic's expansion to new customers in the future.


2. Semron

Year Founded: 2020

HQ: Dresden, Germany

Size: 1-10

Founders: Aron Kirschen, Kai-Uwe Demasius

Semron is a German startup, founded in 2020 and headquartered in Dresden. It aims to revolutionize the design of AI microchips contained within smart devices. Semron achieves this by leveraging the known heat-reduction capabilities of electrical fields, which will allow it to fit hundreds of layers of capacitors on a single microchip. These layers will allow each chip to have exponentially more computing power, whilst also vastly reducing the size of the chip itself, saving vital space within your smart devices. One example of a use case for these chips is Smart Glasses, which due to their nature, aren't commercially viable with blocky and cumbersome components.

The wide practical application of Semron's technology has attracted the attention of investors. Semron closed a 7.3 Million Euro Seed funding round in January 2024. This funding round was led by Join Capital. The raised funds will be used to further develop the hardware, whilst also allowing for increasing Semron's headcount and promoting internationalisation of its products.


3. Twaice

Year Founded: 2018

HQ: Munich, Germany

Size: 51-100

Founders: Michael Baumann, Stephan Rohr

TWAICE is a German startup that was founded in 2018 and is currently based in Munich. It has created an analytics platform for batteries that allows you to have a better understanding of the inner workings of your complex and expensive battery systems. With this software, you'll be able to identify the current workings, ageing and over-time performance of your battery systems, allowing you to make more informed choices about the time of battery systems that you are using to power your business. This makes your battery operations more reliable and effective.

TWAICE has been very successful with raising startup funding, having closed its most recent funding round in May 2021. During this funding round, TWAICE managed to successfully raise a figure of $26 Million to scale up its operations and allow it to generate new customers through entry into new markets. The total funding that it has received stands at $45 Million currently.


4. Mondu

Year Founded: 2021

HQ: Berlin, Germany

Size: 101-250

Founders: Philipp Povel, Malte Huffmann

Mondu is a Berlin-based German startup that was founded in 2021. It has rapidly grown in the last twelve months, Mondu's headcount increased from 11-50 to 101-250. It operates in the FinTech market and allows you, as a business owner, to offer a range of payment solutions to entice your customers to buy. For example, through Mondu, you can offer BNPL, payment through instalments and more. You can also set up integrations with Mondu on your website and your offline sales process, giving your customers the ultimate payment flexibility.

Mondu has regularly received startup funding since being founded. Its most recent injection of funding took place in January 2024 when Mondu received 30 Million Euros in debt financing to expand its operations to other countries in Europe. Mondu has raised a total of 115 Million Euros since it was founded, highlighting its rapid growth.


5. Akiro Labs

Year Founded: 2021

HQ: Berlin, Germany

Size: 11-50

Founders: Christoph Flöthmann, Detlef Schultz, Michael Pleuger, Tim Ergenzinger

Akiro Labs is another German startup founded in 2021 and headquartered in Berlin. It offers a SaaS platform that allows you to improve your strategic procurement operations. You will make both cost savings and you'll be able to benefit from 400%-500% more sustainable value in your organisation. By using AI-powered tools in your procurement strategy, your efficiency will increase and organisational waste will decrease. This highlights a powerful potential tool for you to leverage.

Akiro Labs has been proactive in seeking funding, it recently, in January 2024 closed a Seed Funding round worth $5 Million. The funding secured by Akiro Labs will allow it to further develop its software platform and accelerate its internationalisation, allowing it to reach a much larger customer base.


6. Spotos

Year Founded: 2022

HQ: Osnabrück, Germany

Size: 101-250

Founders: Šarūnas Stanislovėnas

Spotos is a German startup that was founded in 2022 and is currently headquartered in Osnabrück. It provides an industry-leading freight forwarding service that makes it easier for you to save time and money on every delivery, whether you're a shipper or a carrier. Using it, you'll be able to save at least 4% from your transportation costs and find a verified carrier from a network of more than 70,000, meaning there will always be someone to handle your requirement. The use of digital management documents will also save you a lot of time on the administrative side.

Despite the rapid growth and size of Spotos, it has not been massively active in raising startup funding. Despite this, Spotos did complete a capital increase in March 2023, which allowed it to raise an additional 2 Million Euros. This funding has been used to further the development of the platform and to help Spotos to reach a larger number of customers.


7. Finoa

Year Founded: 2018

HQ: Berlin, Germany

Size: 51-100

Founders: Christopher May, Henrik Gebbing

Finoa is a German startup that was founded in 2018 and is currently based in Berlin. It operates in the FinTech market and is a regulated custodian for digital assets. As an institutional investor or corporation, you'll be able to benefit from Finoa's custody and staking services, which will keep your assets safe and visible, whether you're a crypto native, or a bit of a technophobe. You're in safe hands knowing Finoa works with some of the world's largest financial institutions to handle their assets.

Finoa has seen great recent success in raising startup funding. It completed a Series B round in January 2024 that allowed it to raise $15 Million in funding. This funding is likely to be used to improve Finoa's technological infrastructure and also to attract new customers in different markets.


8. Planet A Foods

Year Founded: 2021

HQ: Munich, Germany

Size: 11-50

Founders: Dr. Maximilian Marquart, Sara F. Marquart

Planet A Foods is a German startup that was founded in 2021 and is currently based in Munich. It provides sustainable chocolate without the cocoa so that you can still enjoy the great taste of chocolate, whilst also making sure that your sustainability footprint and impact on deforestation stays small. This is a great alternative if you're very eco-conscious. Planet A Foods claims that it will save 500 Million tons of Co2 every year, having a positive impact on our planet.

Investors have backed the eco-based mission of Planet A Foods. This is highlighted by the fact that Planet A Foods recently completed a $15.4 Million Series A funding round in February 2024. The goal of this round was for Planet A Foods to introduce its sustainable chocolate into the UK market and further expand in 2024. The funding round was led by the climate venture fund, World Fund.


9. Neura Robotics

Year Founded: 2019

HQ: Metzingen, Germany

Size: 101-250

Founders: David Reger

Neura Robotics is a startup in Germany that was founded in 2019 and it is currently based in Metzingen. It is in the market for creating cognitive robots, which are robots that have memories and can collaborate with you on a range of complex and crucial tasks. The applications are wide-ranging, you can implement it into a range of production and manufacturing businesses, as well as using it to help support you in the kitchen during meal prep. Neura Robotics is on a mission to bring efficient robotics support to you, whatever the market.

Neura Robotics has seen a lot of success with investors and its latest funding round in October 2023 was no exception. During this round, Neura Robotics raised [$16 Million](https://www.therobotreport.com/neura-robotics-brings-in-another-16m/#:~:text=Neura%20Robotics%20(“NEURA%20Robotics”,closing%20a%20%2455%20million%20round "$16 Million"), which followed a previous funding round of $55 Million a few months prior. This funding will allow Neura Robotics to further the development of its hardware and software systems, whilst also developing its robots to work in new use cases.


10. Airfocus

Year Founded: 2018

HQ: Hamburg, Germany

Size: 11-50

Founders: Valentin Firak, Christian Hoffmeister, Malte Scholz

Airfocus is a German startup that was founded in 2018 and is currently headquartered in Hamburg. It provides you with a comprehensive product management solution that allows you to unify the entire product management process in a single SaaS package. You'll have full visibility of the product life cycle, from the smallest detail, to the overall strategy. Building your own workflows into Airfocus is easy and helps you to keep your teams on the same roadmap. If you're not sure how you want things set up, you can also use one of Airfocus' prebuilt templates to help you in the beginning.

Airfocus has had recent success with raising startup funding, as it completed a $7.5 Million funding round in January 2024. This funding round will allow Airfocus to scale its outbound sales efforts by hiring new employees and allow it to develop a new plan for successfully securing enterprise clients. These two aspects will allow Airfocus to rapidly expand and develop its platform in the coming years.


11. Avi Medical

Year Founded: 2020

HQ: Munich, Germany

Size: 51-100

Founders: Christoph Baumeister, Julian Kley, Vlad Lata

Avi Medical is a German startup that was founded in 2020 and is currently headquartered in Munich. It aims to make finding a GP appointment in Germany much easier for you on demand, whether you want to see one in person or have an online consultation. Avi Medical's qualified doctors can assist you with anything a regular GP can, with specialists in a range of different healthcare areas. It has practices located in Munich, Berlin, Hamburg and Stuttgart.

Avi Medical has had previous success with startup funding. Its last funding round was a Series B that took place in April 2022 and allowed Avi Medical to raise 50 Million Euros. This funding was then used to support the integration of digital assistants to improve remote care and improve decision-making. It has also been used to accelerate Avi Medical's plans to open more clinics and see more patients.


12. Deeploi

Year Founded: 2023

HQ: Berlin, Germany

Size: 11-50

Founders: Julian Luebke, Philipp Hoffmann

Deeploi is a startup in Germany that was founded in 2023 and is currently based in Berlin. If you're struggling with your company's IT management, then Deeploi can support you through these difficulties. By using the platform, you can secure an all-in-one solution for employee onboarding and offboarding, quickly managing and closing your IT requests, maintaining a secure and compliant IT infrastructure, maintaining inventory and managing devices. You will be able to make IT-related savings of up to 50% by using Deeploi, instead of trying to go it alone.

Deeploi has secured a total of 9 Million Euros in startup funding. It completed its most recent round of startup funding in January 2024, when Deeploi raised 6 Million Euros from a number of investors. This funding will be used to support the growth of Deeploi's internal team, including development of the product and outbound sales teams. This will allow Deeploi to expand its revenue streams and continue its upward trajectory.


13. Ivy

Year Founded: 2021

HQ: Munich, Germany

Size: 1-10

Founders: Daniel Krauss, Jochen Engert, André Schwämmlein, Martin Blessing

Ivy is a German startup that was founded in 2021 and is currently based in Munich. It operates in the FinTech market and using its API, it allows you to leverage real-time payments in your business. You can benefit from missing out intermediaries when you accept payments from your customers, which allows you to save time on charges from card issuers and payment gateways. You'll make more from every payment and you can still accept payments from consumers in more than 50 countries, supported by bank grade security so you know that your payments are secure.

Ivy has been very successful in securing startup funding, with its most recent funding round taking place in August 2023. During this funding round, Ivy raised a total of $20 Million in startup funding. Ivy has declared that this funding will be used to secure agreements to operate in other countries and increase the number of merchant customers that it works with across the world.


14. Ecoworks

Year Founded: 2018

HQ: Berlin, Germany

Size: 51-100

Founders: Emanuel Heisenborg

Ecoworks is a startup in Germany that was founded in 2018 and is currently headquartered in Berlin. Ecoworks is on a mission to make your house more energy efficient, it achieves this by using high-tech tools and automated manufacturing to retrofit your home with an insulated facade of cladding, built from sustainable materials that helps to keep the heat inside your home. These pieces are modular, allowing for flexibility and you can integrate windows and balconies into the design of the cladding. Furthermore, Ecoworks can create renewable generation sources such as solar into your property, to make your energy use cleaner and less expensive. This allows you to reduce consumption by 85%.

Ecoworks, like many CleanTech startups, has been very popular with investors. In its most recent funding round, that took place in December 2023, Ecoworks raised a total of 40 Million Euros. The funding round was predominantly backed by World Fund and will allow Ecoworks to further develop its production lines and reach more potential customers that want to unlock savings on their properties, as the price of energy continues to rise across the globe.


15. Enter

Year Founded: 2020

HQ: Berlin, Germany

Size: 101-250

Founders: Justus Menten, Alexander Muller

Enter is a startup in Germany that was founded in 2020 and is currently headquartered in Berlin. If you know that your property is energy inefficient, but you don't know where to start, then Enter can help. It provides a comprehensive energy assessment based on a survey, then following this you will receive information about how your property's energy efficiency could be improved. Enter will also take care of any green subsidy applications for you, taking away some of the stress from the process. The energy saving potential of a home can be supplied to you with a 90% rate of accuracy.

Enter has already sought and secured startup funding to accelerate its growth and development. Its most recent funding round took place in April 2023, when Enter secured 19.4 Million Euros in funding. It was stated that this funding would be used to grow Enter's market share in Germany and allow for entry into other markets, which will accelerate its growth prospects.


16. Aleph Alpha

Year Founded: 2019

HQ: Heidelberg, Germany

Size: 51-100

Founders: Jonas Andrulis, Samuel Weinbach

Aleph Alpha is a German startup that was founded in 2019 and is currently based in Heidelberg. It provides the foundation for generative AI using Large Language Models. By using its services, you will be able to more easily create and deploy a range of AI models for language, the analysis of image data and even to assist with making strategic decisions. These models have been made available to governments and businesses, meaning that you can benefit, whether you're in the public or private sector.

Aleph Alpha is one of the most exciting startups in Germany for startup funding. In its most recent funding round, a Series B in November 2023, it raised a total of $500 Million. This funding was backed by SAP and Schwarz Group among others. Aleph Alpha stated that it would be using the funding to pursue further research in foundation models and the further commercialization of its software offering. As the AI market continues to mature, it is expected that Aleph Alpha will secure even more funding in the future.


17. Kittl

Year Founded: 2020

HQ: Berlin, Germany

Size: 11-50

Founders: Nicolas Heymann, Tobias Saul

Kittl is a startup in Germany that was founded in 2020 and is currently based in Berlin. It provides a creative design platform that helps you to create higher quality designs in less time. With Kittl, you can use generative AI to assist in creating the logo for your new business, or stunning posters for your next big event. Kittl's focus is on making every step of the design process as quick and painless as possible. Even if you're not the most creative, you can edit a range of beautiful templates. It is currently trusted by some of the world's most recognised brands, such as Harley Davidson, Netflix, Warner Brothers and many more.

Kittl has been incredibly successful in raising startup funding, with its most recent funding round taking place in January 2024. During this Series B, Kittl raised a total of $36 Million from a number of investors. The ambition for this funding is for it to be used to raise the profile of Kittl globally to attract new customers to the platform and also develop the technology of its creator.


18. FERNRIDE

Year Founded: 2019

HQ: Munich, Germany

Size: 51-100

Founders: Hendrik Kramer, Jean-Michael Georg, Dr. Maximilian Fisser

FERNRIDE is a German startup that was founded in 2019 and is currently headquartered in Munich. FERNRIDE provides a world-leading solution for autonomous electric trucking. By utilising this technology in your fleet, you can gain the cost saving and production efficiency benefits of automation, whilst also fueling your transition to an electric, low emissions fleet of vehicles. With guaranteed reliability and the capability to have human-assistance in autonomous vehicles, the entire logistics process is made safer for your crew and the goods that you are transporting.

Autonomous vehicle startups tend to attract large amounts of funding and FERNRIDE is no different, completing its Series A funding round in September 2023. During this funding round, FERNRIDE managed to successfully raise a total of $50 Million. This funding has gone towards the continued research and development of autonomous vehicle technology, to improve the offering provided by FERNRIDGE and add additional value to your operation.


19. Helsing

Year Founded: 2021

HQ: Berlin, Germany

Size: 101-250

Founders: Gundbert Scherf, Niklas Köhler, Torsten Reil

Helsing is a startup in Germany that was founded in 2021 and is currently headquartered in Berlin. Helsing operates in the Defence sector and predominantly deals in the military applications of AI and associated components. Advanced sensor technology combined with precise algorithms to categorise data allows you to rapidly build a clear picture of the battlefield, providing another layer of intelligence and protection to your soldiers. Helsing intends to create an operating system for war and has clearly stated that it will only sell it to democracies. It represents one of the most exciting defence startups.

Due to the very real and practical application of Helsing's offering, it has done exceedingly well in securing startup funding. Helsing's most recent startup funding round took place in September 2023. The Series B round was particularly successful, with Helsing managing to raise a total of $223 Million to further the development of its combat operating system. In addition to this, the funding has also been used to expand Helsing's operations into other countries.


20. Atmen

Year Founded: 2020

HQ: Munich, Germany

Size: 1-10

Founders: Marvyn Smith

Atmen is a startup in Germany that was founded in 2020 and is currently based in Munich. Its offering makes it much easier for you to get certification pushed through as a green fuel producer. In fact, by automating the certification process, you will cut 90% of the time that you would have normally spent completing it. Furthermore, when you're making an investment or planning decision, you can leverage Atmen in order to rapidly check project compliance against a range of worldwide standards.

Atmen has recently seen its first success in startup funding, having completed its Pre-Seed funding round in January 2024. This funding round has allowed Atmen to raise 1.3 Million Euros, with the funding being used to support bringing Atmen's platform to market and appeal to a much wider consumer base.


21. Proxima Fusion

Year Founded: 2023

HQ: Munich, Germany

Size: 11-50

Founders: Francesco Sciortino, Jonathan Schilling, Jorrit Lion, Lucio Milanese, Martin Kubie

Proxima Fusion is a startup in Germany that was founded in 2023 and is currently based in Munich. It aims to build the first generation of fusion power plants that use QI stellarators. This allows you to generate emission-free power en-masse spurred on from fruitful testing of prototypes from the Max Planck Institute for Plasma Physics, which many of the founding team are from. By cracking the code and utilising this technology to achieve true fusion energy, you can potentially achieve energy abundance for all globally.

Despite being founded relatively recently, Proxima Fusion has secured a large amount of startup funding. In its first funding round in May 2023, Proxima Fusion raised a total of 7 Million Euros to further research and develop its technology and bring it closer to practical fruition. As it stands, this is likely to be a long-term endeavour that requires additional funding in the future.


FAQs

What Are The Strongest Startup Industries In Germany?

Germany has strength in most startup sectors, however it has particular strength and maturity in FinTech, HealthTech, Enterprise Software and Food/Consumer Goods.

How Much Funding Do German Startups Raise?

The German tech ecosystem raised $8.3 Billion in funding during 2023, which is higher than the four-year global average of $6.6 Billion for a startup ecosystem worldwide.

How Many Tech Startups Are There In Germany?

It is estimated that there are more than 20,000 tech startups in Germany and they provide more than 620,000 job opportunities for people in the country,

Top German Startups to Watch...
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

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