The Rainforest Company: Berlin-based startup which set out to protect the rainforest enters UK market

The Berlin-based startup The Rainforest Company, which was founded in 2017 by Albana Rama, is expanding to the UK. From October 15 onwards the impact-drive company will offer its açai-based superfoods in all London stores of the world’s largest organic supermarket chain, The Whole Foods Market. With its expansion into the UK, The Rainforest Company is…

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EU-Startups

Berlin-based Infarm raises €144M to grow largest farming network globally

As we all know, the impact of the coronavirus pandemic is growing day by day due to which there is a high rise in demand for fresh foods. It has put a global spotlight on the agricultural side of the economy. However, agritech startups are constantly trying to succeed, despite all the challenges, with the help of indoor farming to help cities become self-sufficient in their food production while improving the safety, quality, and environmental footprint of the food. 

One such startup, Infarm, aims to share the goodness of own-grown produce with everyone. The startup has developed a smart modular farming system, that allows the distribution of farms throughout the urban environment, growing fresh produce in any available space and fulfilling any demand.

The Berlin-based startup has raised €144 M in the “first close” of a Series C round of funding; the round is expected to reach about €168 M. LGT Lightstone led this round of investment in a mix of equity and debt financing.

Besides existing investors Atomico, TriplePoint Capital, Mons Capital, and Astanor Ventures; Hanaco, Bonnier, Haniel, and Latitude have also invested in this round.

Utilisation of the Investment

The funding will be used to strengthen the regional and local penetration of Infarm’s global farming network. Besides, the startup is also looking to develop its vertical cloud-connected farms to help generate the crop-equivalent of acres of farmland to increase the diversity of produce through vertical farming.

What does Infarm do?

Founded in 2013 by Osnat Michaeli, and brothers Erez and Guy Galonska, Infarm uses cloud-computing to manage the cultivation of produce that is grown close to consumers, to minimise its environmental impact.

With a team of 600 people globally, Infarm has partnered with more than 30 major food retailers.

The startup also claims to have deployed more than 1000 farms in stores and distribution centres, saved more than 7,000,000 gallons of water, and 400,000 square feet of land, while harvesting over 500,000 plants monthly and growing. 

To help contribute to a more sustainable food system, Infarm is looking to integrate its advanced engineering and software & farming technology, to help save labour, land, water, energy, and food-miles. 

By 2025, Infarm’s farming network is expected to reach more than 5,000,000 square feet.

Speaking about the development, Erez Galonska, co-founder & CEO of Infarm, said: “We believe in increasing access to fresh, pure, sustainable produce, grown as close as possible to people. As we scale to 5,000,000 sq ft in farming facilities across Europe, North American and Asia by 2025, this investment will help us make a truly global impact through our network, preserving the thousands of acres of land, millions of liters of water, and ultimately change the way people grow, eat and think about food.”

Image credits: InFarm 

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Startups – Silicon Canals

Berlin-based Infarm raises €144 million during pandemic to grow largest urban vertical farming network in the world

Today German startup Infarm, one of world’s fastest growing urban farming networks, has announced an approx. €144 million investment raised in the first close of a Series C funding round expected to reach around €169 million. Led by LGT Lightstone, the first round included participation by investors Hanaco, Bonnier, Haniel, and Latitude and was supported…

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EU-Startups

Berlin-based greentech startup Zolar aims to be synonymous with solar energy; secures additional €15M

The world is increasingly growing aware of the detrimental effects of fossil fuel and is actively seeking an alternative. Solar energy is one of the key alternative sources of energy and the technology behind harnessing it is getting economical and accessible with each passing year. 

According to the EC, due to a solid industrial foundation, solar power has fast become one of the cheapest technologies for electricity generation worldwide. Between 2009 and 2018, the costs of production decreased by 75% while the market continued to expand. It also mentions that in 2018, the EU solar market grew by 8GW, and by an estimated 15-17GW in 2019. The solar market is expected to continue to grow from 2020 onwards, making solar capacity a cornerstone of the clean energy transition. 

EU has also been increasingly adopting photovoltaics. It is a method to harness solar energy and convert it into electrical energy via solar cells, involving a physicochemical phenomenon called the photovoltaic effect. As per the EC, the technology is being widely used globally and contributes to a large part of the EU’s energy mix. In 2018, the EU output of photovoltaic electricity reached 127 TWh, amounting to 3.9% of the EU’s gross electricity output. Treading the photovoltaic route is a Berlin-based greentech startup called Zolar, and it just raised an additional €15M.

Sun, solar, and Series B 

Zolar has received an additional €15M from its current investors as part of an expansion of the Series B financing round. The total investment of the Series B round launched in 2019 has increased to €25M.  

Czech venture capital fund Inven Capital, which specialises in greentech, led this funding round once again. Previous investors Heartcore Capital, Statkraft Ventures, BayWa r.e. Energy Ventures and Partech also participated in this round. Zolar will utilise this fresh capital to speed up the scaling of the business model as well as to prepare for international expansion in the coming years. It also plans on further optimising its own digital partner platform – the Zolar Project Center. 

“The new funding paves the way for us to become the go-to company for clean energy and individual solar systems, to expand internationally and to establish ourselves as a data provider”, says, Alex Melzer, CEO of Zolar.

Harnessing the sun

Zolar was founded in 2016 by Alex Melzer and Gregor Loukidis. It offers photovoltaic systems, which homeowners are able to custom plan, compare, and order online, at a fixed price.

According to the company, by using the Zolar online configurator, homeowners are able to customise the components of their solar energy system according to their needs and will receive a personal consultation at the same time from one of its solar energy experts. It has also partnered with local companies in order to provide installation services on-site. Zolar claims that despite the Covid-19 pandemic, the startup has been able to double its revenue compared to the previous year.

Back in 2017, the company raised €4M in Series A financing round. “The more we grow, the faster we can revolutionize the energy industry together with our customers and help to avert the climate crisis. Zolar stands for climate protection straight from the bat, we want to be the catalyst for an energy revolution in every household,” Melzer adds. 

Image credits: Zolar

The post Berlin-based greentech startup Zolar aims to be synonymous with solar energy; secures additional €15M appeared first on Silicon Canals .

Startups – Silicon Canals

Berlin-based greentech startup Zolar aims to be synonymous with solar energy; secures additional €15M

The world is increasingly growing aware of the detrimental effects of fossil fuel and is actively seeking an alternative. Solar energy is one of the key alternative sources of energy and the technology behind harnessing it is getting economical and accessible with each passing year. 

According to the EC, due to a solid industrial foundation, solar power has fast become one of the cheapest technologies for electricity generation worldwide. Between 2009 and 2018, the costs of production decreased by 75% while the market continued to expand. It also mentions that in 2018, the EU solar market grew by 8GW, and by an estimated 15-17GW in 2019. The solar market is expected to continue to grow from 2020 onwards, making solar capacity a cornerstone of the clean energy transition. 

EU has also been increasingly adopting photovoltaics. It is a method to harness solar energy and convert it into electrical energy via solar cells, involving a physicochemical phenomenon called the photovoltaic effect. As per the EC, the technology is being widely used globally and contributes to a large part of the EU’s energy mix. In 2018, the EU output of photovoltaic electricity reached 127 TWh, amounting to 3.9% of the EU’s gross electricity output. Treading the photovoltaic route is a Berlin-based greentech startup called Zolar, and it just raised an additional €15M.

Sun, solar, and Series B 

Zolar has received an additional €15M from its current investors as part of an expansion of the Series B financing round. The total investment of the Series B round launched in 2019 has increased to €25M.  

Czech venture capital fund Inven Capital, which specialises in greentech, led this funding round once again. Previous investors Heartcore Capital, Statkraft Ventures, BayWa r.e. Energy Ventures and Partech also participated in this round. Zolar will utilise this fresh capital to speed up the scaling of the business model as well as to prepare for international expansion in the coming years. It also plans on further optimising its own digital partner platform – the Zolar Project Center. 

“The new funding paves the way for us to become the go-to company for clean energy and individual solar systems, to expand internationally and to establish ourselves as a data provider”, says, Alex Melzer, CEO of Zolar.

Harnessing the sun

Zolar was founded in 2016 by Alex Melzer and Gregor Loukidis. It offers photovoltaic systems, which homeowners are able to custom plan, compare, and order online, at a fixed price.

According to the company, by using the Zolar online configurator, homeowners are able to customise the components of their solar energy system according to their needs and will receive a personal consultation at the same time from one of its solar energy experts. It has also partnered with local companies in order to provide installation services on-site. Zolar claims that despite the Covid-19 pandemic, the startup has been able to double its revenue compared to the previous year.

Back in 2017, the company raised €4M in Series A financing round. “The more we grow, the faster we can revolutionize the energy industry together with our customers and help to avert the climate crisis. Zolar stands for climate protection straight from the bat, we want to be the catalyst for an energy revolution in every household,” Melzer adds. 

Image credits: Zolar

The post Berlin-based greentech startup Zolar aims to be synonymous with solar energy; secures additional €15M appeared first on Silicon Canals .

Startups – Silicon Canals

Berlin-based space startup LiveEO secures six-figure sum to make ‘Earth Observation’ a standard enterprise service

The German space startup LiveEO has closed its second fundraising round, a six-figure sum, from DvH Ventures, one of the leading early-stage investors in Europe, as well as Finanzcheck founder Andreas Kupke, bringing its total raised to 2.5 million. 

Founded in 2016, LiveEO is a new space company from Berlin. LiveEO offers its customers satellite-based monitoring of critical infrastructures such as power grids, pipelines and rail networks, and is funded by the European Space Agency ESA. The startup today has 22 employees across Berlin and San Francisco.

“LiveEO has far exceeded our expectations in the last 12 months since we first invested in the company, so that a further investment was a logical next step,” said Peter Richarz, Managing Partner of DvH Ventures. “Not only the excellent team of founders, but also an impressive technology inspires not only us as investors, but meanwhile more and more companies with critical infrastructures.

“With the continuous commitment of DvH Ventures and the engagement of Andreas Kupke, we are a significant step closer to our vision of bringing Earth Observation as a standard service to the enterprise world,” said Sven Przywarra, CEO of LiveEO. 

“Sven and his co-founder Daniel Seidel are a strong entrepreneurial duo with deep technological understanding and great talent in building deep tech organizations. This combined with a unique product platform and a highly attractive market with a very long term horizon have clearly convinced me”, says Andreas Kupke, active Tech Investor, who has invested in the NewSpace segment including Isar Aerospace. 

LiveEO offers its customers satellite-based monitoring of critical infrastructures such as power grids, pipelines and rail networks. For this purpose, LiveEO automatically evaluates satellite images and warns customers of dangers from vegetation, tectonic influences and interaction with third parties. The startup’s “Software-as-a-Service” (SaaS) business model enables customers to save operating costs, since it is far less cost-intensive than traditional monitoring by patrol car or helicopter. 

The company’s existing customers include Deutsche Bahn, E.ON, the utility network operator E.dis and the American energy company AEP. Most recently, the American construction company CDM Smith commissioned LiveEO to monitor large-scale infrastructure projects.

Since the autumn of 2019, LiveEO has been carrying out a SIM demonstration project co-financed by ESA Space Solutions. In this project, the further development of LiveEO’s infrastructure monitoring solution is supported with a high six-figure sum.

For E.dis, LiveEO has been analyzing the medium-voltage grid for threats from vegetation since 2018. The contact came about through a challenge from E.dis, and the startup was awarded the contract because of a custom-fit solution to the challenge posed by the electricity network operator.

EU-Startups

10 Berlin-based VCs discuss how COVID-19 has changed the landscape

A breeding ground for European entrepreneurs, Berlin has a knack for producing a lot of new startups: the city attracts top international, diverse talent, and it is packed with investors, events and accelerators. Also important: it’s a more affordable place to live and work when compared to many other cities in the region.

Berlin ranked 10th place in the 2019 Global Ecosystem Report, trailing behind only two other European cities: London and Paris. It’s home to unicorns such as N26, Zalando, HelloFresh and pioneers of the scene such as SoundCloud.

Top VCs include Earlybird, Point Nine, Project A, Rocket Internet, Holtzbrinck Ventures and accelerators such as Axel Springer Plug and Play Accelerator, hub:raum and The Family.

To get a sense of how the novel coronavirus has changed the landscape, we asked ten investors to give us an insight into their thinking during these pivotal times:

Jeannette zu Fürstenberg, La Famiglia

What trends are you most excited about investing in, generally?
Generally, we believe in a future in which we can leverage technology to free up humans from repetitive and tedious work and to empower them to shift their focus to what they consider more meaningful and impactful: that is creative and interpersonal activities. Thus, we are excited about founders working towards that future and finding answers across multiple industries, such as manufacturing or logistics, across all working-classes, and across different eras – before, during and after COVID.

What’s your latest, most exciting investment?
One of the recent additions of our new fund is Luminovo, a Munich-based company that develops a solution in the electronics industry to reduce the time and resources needed to go from an idea to a market-ready circuit board.

Are there startups that you wish you would see in the industry but don’t? What are some overlooked opportunities right now?
So far, we have only scratched the surface of the kind of efficiency gains that can potentially be achieved – particularly in industries that were considered to be boring and sluggish in the past, such as insurance or logistics. Even small improvements driven by technology can have a massive direct impact on P&L.

What are you looking for in your next investment, in general?
In general, we love to back visionary founders in the seed-stage that tap into giant industries with a high potential for digitization across Europe and the US.

Which areas are either oversaturated or would be too hard to compete in at this point for a new startup? What other types of products/services are you wary or concerned about?
COVID has sprung a myriad of companies in the communication and collaboration space into existence. While we believe in a future in which products and processes will be inherently remote-first, we will see a consolidation of that space that only allows for an oligopolistic market structure similar to how there is only one Zoom and Google Meet in the video communication space today.

How much are you focused on investing in your local ecosystem versus other startup hubs (or everywhere) in general? More than 50%? Less?
We have always considered ourselves as one of the few funds in Germany with a significant investment footprint both in Europe and the US. COVID has emphasized that we are able to invest entirely remotely and hence we will continue and even increase our activities across multiple hubs, such as Munich, Paris, or London.

Which industries in your city and region seem well-positioned to thrive, or not long-term? What are companies you are excited about (your portfolio or not), which founders?
Germany’s economy relies on wealthy traditional companies sitting on top of capital to be unlocked which new entrants can make use of. This has been true before 2020, and COVID will only demand more and accelerated innovation across these traditional industries ranging from automotive, manufacturing, to the chemical industry.

How should investors in other cities think about the overall investment climate and opportunities in your city?
Berlin and other German cities have consistently proven to develop and grow new leaders across multiple categories such as banking (N26), mobility (Flixbus and Lilium), or data analytics (Celonis). This is certainly driven by a mix of talents coming out of world-class educational institutions, the relative low cost of living in tech hubs, and large local incumbents with massive capital to invest and spend.

Do you expect to see a surge in more founders coming from geographies outside major cities in the years to come, with startup hubs losing people due to the pandemic and lingering concerns, plus the attraction of remote work?
While COVID has accelerated remote-first products and processes, we still believe that people will flock back to startup hubs such as Berlin or Munich, especially given the relatively low cost of living compared to other tech hubs like San Francisco. Nevertheless, we will continue to see an increasing number of companies scattered across multiple time zones building products that are inherently remote first, regardless where the general work environment will shift into.

Which industry segments that you invest in look weaker or more exposed to potential shifts in consumer and business behavior because of COVID-19? What are the opportunities startups may be able to tap into during these unprecedented times?
We are lucky in that our investment focus has been on sector verticals such as Logistics, Supply chain, manufacturing or the future of work, which have all captured significant tailwind from Covid.

How has COVID-19 impacted your investment strategy? What are the biggest worries of the founders in your portfolio? What is your advice to startups in your portfolio right now?
While our investment strategy on a high level will not change, we are putting longer sales cycles into consideration as potential customers of our portfolio companies now are focusing on capital efficiency which also holds true for our founders. Thus, we advise them to focus on extending the runway both by increasing capital efficiency as well as taking on additional funding.

Are you seeing “green shoots” regarding revenue growth, retention or other momentum in your portfolio as they adapt to the pandemic?
As our economy is still in the midst of dealing with the effects of COVID, it is too early to tell, but we definitely see positive indications driven by efforts of portfolio companies that could adapt quickly and shipped features catered to the current needs. One example is Personio, which extended their HR offerings with features that solve the need of customers who shifted to short-time work.

What is a moment that has given you hope in the last month or so? This can be professional, personal or a mix of the two.
What gave me hope was the cohesion of the German economy that fought together for solutions and support during these difficult times. One positive example was the German Startup Association that helped achieve additional governmental financial aid for German SMEs.

Any other thoughts you want to share with TechCrunch readers?
Similar to how the past financial crisis allowed companies such as Stripe or Shopify to become ubiquitous parts of our daily life, these unprecedented times now will also give birth to new forms and shapes in which new ideas will grow into large businesses and we are excited to partner up with founders willing to take a bet on that future.

Jorge Fonturbel, Target Global

Startups – TechCrunch

Berlin-based TIER unveils most advanced e-scooter ever – with built-in helmet, user swappable batteries, and indicator lights

Today TIER, a leading European e-scooter company, has unveiled its most advanced scooter yet to hit the streets at an event in London today – with user swappable batteries, a built-in helmet and indicator lights.

The best-in-class e-scooter enables users to earn free rides by swapping out batteries at charging stations which TIER plans to set up across UK cities. These stations will form part of a charging network for e-vehicles which TIER has already started building across Europe. Taking this approach creates an even more sustainable operation as much of the congestion previously associated with operating e-scooter fleets is eliminated, while operating costs are also greatly reduced.

The charging technology was pioneered by the innovative London-based hardware startup Pushme, which TIER acquired earlier this year. Pushme has its manufacturing base in Aylesbury, Oxfordshire, where the charging stations are assembled.

Placed inside convenience stores, cafés, and other partner locations, the charging stations are fully-automated and require no store staff oversight, while requiring no installation either. Hosting a charging station comes at no cost for partners as TIER pays for all required electricity. At the same time, the charging stations can help to attract new customer visits and increase sales, while reducing the carbon footprint of customer travel, helping businesses reach their own climate goals. TIER’s vision is to introduce the same swappable battery to its prospective portfolio of shared vehicles so that in the future all will be powered by the same user charging network across Europe.

Lawrence Leuschner, CEO and co-founder of TIER, said: “Today marks a step change in safe and sustainable travel around our cities. By integrating this new kind of swappable battery technology, we are building a Europe-wide charging network that allows users to play an active part in adopting climate-neutral travel and building better cities. At the same time, by hosting the charging pods in local businesses, we are helping high streets to recover from lockdown. This is a crucial step in TIER’s electric revolution to make mobility better. It is our plan that in time our charging network will not just service e-scooters, but other vehicles too.”

TIER is also taking part in the race to win contracts for e-scooter trials in the UK, since the UK Government approved trials for rented e-scooter schemes, in a bid to foster more ‘socially distanced’ methods of urban transport. TIER is competing alongside startups like Swedish startup Voi, who just closed two exclusive contracts, and Irish startup Zipp Mobility who also just gained approval for UK trials. TIER is aiming for big areas like London, where it believes it can replicate the approach which recently helped it to win highly competitive tenders in Paris and Lyon.

TIER is also confident in its chances of winning these UK contracts as it believes that the new features added to its e-scooter cement its position as the most sustainable and safest operator in the industry. The new scooters will have a foldable helmet, and indicator lights on the steering bar and back fender that clearly signal the rider’s direction to other road users. This adds to other safety features developed by TIER, including the largest front wheel in the industry, a wider foot plate, dual suspension, a double kick-stand and dual drum brakes for stable riding on uneven surfaces and conditions.

Since it was founded in 2018, TIER has launched in 70 cities and was the first micro-mobility provider to be certified as climate-neutral. The company plans to roll-out its swappable battery technology across all its operations by the end of 2021 and is actively seeking strategic partners to the charging pods.

EU-Startups

Berlin-based Apheris raises €2.5 million to help companies share and analyse data securely

Apheris, a deep tech company based in Berlin, has raised €2.5 million to enable corporate enterprises to collaborate and analyse data without compromising privacy. The round was led by British seed investor LocalGlobe, with Dig Ventures, the family office of MuleSoft Founder, Ross Mason, and Patrick Pichette, former CFO of Google and current board chairman for Twitter. Additional investors included another.vc, System.One, and angel investors Charles Songhurst, NaturalMotion founder Torsten Reil, and Songkick founder Ian Hogarth.

Founded in 2019, Apheris makes secure and private data collaboration and analysis possible. Too often critical data is locked away in silos, unusable or unshareable due to privacy, compliance, legal or security concerns. Due to the many complexities in sharing data, companies are often limited by working with their own narrow datasets, preventing valuable insights and new solutions.

Additionally, Apheris has recently shared its expertise and technology in privacy preservation to support the COVID-19 response by developing and publishing a code library with OpenMined, the largest community for privacy-preserving open-source AI, to enable more robust ways to do contact tracing that protects people’s privacy. Apheris is also one of ten founding signers of the Open COVID Pledge with Facebook, Amazon, IBM, Intel, and Microsoft, to make intellectual property, licenses, and copyrights available for free to support the fight against COVID-19.

Robin Röhm, Apheris CEO and co-founder, commented, “What this year has crystallised is that the world’s largest problems – from fighting pandemics and disease spread to developing life-saving drugs and reducing climate change – require collaborative efforts to solve. Access to the right data should not be the limiting factor to finding solutions and accelerating R&D and innovation. Apheris is the solution to enabling new ways to solve the complex problems of our time without sacrificing privacy or security.”

Apheris uses cutting-edge technologies and techniques, including decentralised computing, federated learning, and cryptographic protocols to preserve privacy and protect data in environments with zero or low trust. Apheris’s international customers are using the platform for drug discovery, new product R&D, and supply chain optimisation to improve business processes, put new products into production, accelerate innovation, and unlock new insights from data.

Ross Mason, founder of MuleSoft and Dig Ventures, stated, “Enterprises are sitting on treasure troves of data that cannot be leveraged because it’s been an impossible task to open up data to third-party companies without losing data or diminishing its value. Apheris is taking a novel approach to data collaboration, allowing data to be shared with partners with zero trust, enabling collaboration without giving up or compromising the data.”

Apheris was founded by three-time collaborators Robin Röhm and Michael Höh, and has raised a total of more than €3.7 million, including a StartupSecure research grant from the German Federal Ministry of Education and Research for €750K.

Julia Hawkins, Partner at LocalGlobe, added, “Apheris is committed to building the next big tech company and has the ambition and team to do it. With its team of global experts in cutting-edge data science, cryptography, and privacy, Apheris has the potential to be the new standard for data collaboration that preserves privacy and security while enabling new insights and innovation.”

Apheris will use its seed funding to grow the company, hire world-class talent in engineering, R&D data scientists, and customer success, and address new industry use cases.

EU-Startups

Berlin-based Omio secures €83.7 million to strengthen position as global travel platform

German traveltech Omio (formerly GoEuro), one of Europe’s leading multi-modal travel booking platforms, today announced it has secured around €83.7 million in investments from existing and new investors including Temasek, Kinnevik, Goldman Sachs Asset Management L.P., NEA and Kleiner Perkins.

Founded in 2013, Omio is a travel app and platform that allows people to find and book trains, buses and flights in one place. Partnering with over 800 transport operators, Omio lets travelers search for any location, including cities, towns and villages, showing the best possible transport combinations from multiple sources. Earlier this year, the startup launched in the US and Canada, making up 10% of its customer base. 

During the eye of the pandemic storm, CEO Naren Shaam put put 90% of its staff on furlough, to make it to the other side. Now, the team of 350 is back to work and powering forward.

The new funds will allow Omio to pursue its vision of unifying global transport with end to end consumer experiences. The investment will be directed at fueling continued organic growth and opportunistic M&A activities while strengthening the company’s unique product and service offering: all transport options (including rail, bus, flights, ferries, rental cars, and car sharing) diversified across 37 countries in Europe and Northern America under the Omio brand, combined with global reach through the planning engine Rome2Rio, which offers search and discovery of transport to and from more than 10 million locations worldwide.

Naren Shaam, founder and CEO of Omio, said: “Travel is an eternal need and I have no doubt in the comeback of the industry. We have seen a very promising recovery of our business over the past weeks, based on the unique strength of our product which includes all modes of transport across multiple markets. Especially in Germany and France, we are already above 50% of our pre-Covid-19 bookings despite marginal marketing spend. However, consumer expectations are changing and the industry will need to evolve to new standards and provide new products with a strong focus on sustainability. We will use the fresh capital to drive this change.”

Jan Kemper, Managing Director and CFO of Omio, said: “When the COVID-19 crisis hit the travel industry, our team made an incredible effort to switch from growth mode into a manage-to-cash organization within weeks. At the same time we started discussions with existing and selected new investors to make sure that we can ramp up our financial head-room for the coming years. Our strong network of financial partners has been key to our ability to manage through this challenging period and will help us quickly return into growth mode. The funding underlines our investors’ confidence in our strategy and the long term potential of our diversified, asset-light business model.”

Omio has already experienced a stronger bounce-back in travel bookings than expected. This has been driven by a clear change in consumer behaviour towards more ground transportation, combined with an accelerating shift towards app usage as consumers prefer to avoid kiosks and long queues. Omio actively supported this shift by continuing to improve and expand its services, for example through the launch of its Open Travel Index (OTI) to help travellers easily understand where they can travel to within Europe and North America.

EU-Startups