Start-ups
German Start-Ups Begin 2024 with Strong VC Influx
A quartet of promising young companies from various corners of Germany recorded financing rounds of EUR 80 million or more.
Feb 28, 2024
Everphone, telecommunications, Berlin, EUR 270 million
This young sustainable telecommunications provider was the biggest of the big winners in the new year, collecting EUR 270 million in Series D financing. Everphone currently leases some 350,000 products to one thousand companies. Everphone intends to use the fresh capital to increase its international activities and become more profitable.
Ineratec, synthetic fuels, Karlsruhe, EUR 118 million
This developer and producer of synthetic fuels raked a nine-figure sum from investors including RockCreek, Samsung Ventures, ENGIE New Ventures and Honda. Interatec plans to expand its production of e-fuels from recycled CO2 and renewably sourced energy. The goal is to increase demand for its e-fuels threefold by the end of the decade.
FINN, electric vehicle subscription, Munich, EUR 100 million
This bright young Bavarian firm also enjoyed a nine-figure influx of capital after a successful Series C financing round. FINN allows customers to use electric vehicles flexibly and without fear of depreciation. The start-up is currently valued at more than EUR 600 million.
Instagrid, battery systems, Stuttgart, EUR 87 million
Rounding out the quartet of big deals was this southwestern German provider of portable battery systems with another lucrative Series C deal. Instagrid doubled its turnover in 2023 and will use the new money to expand into the North American market, bolster production and broaden its range of solutions for decarbonizing the provision of off-grid electricity.
