Building a Mobile App? Here’s Why an MVP Will Benefit Your Business in the Long Run

If you’re an entrepreneur with a fantastic new product or service, there’s often nothing more tempting than wanting to release it into the world in its full glory. But, from a business perspective, this is rarely the right thing to do, for a number of reasons. Primarily, it’s important to ensure that you’ve honed your value proposition, tested it effectively on your target audience, and built the most effective and useful version of your product. And if you’re looking to create a mobile app for your business, this is where a Minimum Viable Product (MVP) can be highly beneficial.


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What exactly is an MVP?

In the context of mobile apps, an MVP is the simplest possible version of your product with just enough functionality and features to enable your target audience to test it. An MVP is all about collating user feedback and building off the back of it.


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Five reasons why MVPs are beneficial

Checking whether the demand is still there

When you first came up with your concept, it’s likely that you conducted thorough research into the demand in your target market, as well as the competition. However, there’s no better way to test your business concept then to actually offer a working prototype of your product to your target audience. Often, you may find that you’re providing a solution to a given market need, only to realize that your users actually want something slightly different.

Honing your user experience

Regardless of what your product offers, building an effective user experience is paramount for ensuring the app’s continued use.

Data from Localytics shows that only a little over a third of users continue to use an app three months after initially downloading it.

An MVP allows you as the product owner to gain valuable insight into how users interact with your product and to make amendments to their journey as needed.

They allow you to build an early user base

Linked to the above point, an MVP also enables you to build an initial base of early adopters who can help spread the word about your product. With any luck, they’ll be sufficiently bought in to support you in making strategic decisions about which features to add and which to scrap in the next product iteration.

They can help you to convince your investors

It goes without saying that every digital product needs to be profitable in order to succeed. A well-tested MVP with a defined monetization strategy is a powerful way of convincing investors that your product has a high chance of success in the market. 

They can lower development costs

Ultimately, an MVP can help you to save money, because you don’t waste your budget on building features which end up not being used by your target audience.


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The process of building an MVP

What do you need to get started?

Do you have a well-developed idea for a mobile product? Great! Here’s what you need in order to approach a software development team with your concept:

  1. Write down the main value or selling point of your application. Does it help users solve a problem or achieve a goal? Does it allow for completing a task faster and with better results?
  2. List all the features the app will need to make this idea work. Focus only on the essential features, not nice-to-have ones. Question every feature you add to this list. Maybe you don’t need an automatic payment system for the first version of your app?
  3. Simplify it further. Do you need users to register and log in? You might lose people who aren’t willing to sign up and create an account yet. There are many ways to simplify your idea and the user process, and they all help to save money using design work and development. Your team will help you get rid of features your MVP doesn’t need and make your core business value perfectly visible.

What next?

Typically, you would work with your chosen software provider to develop your app. The process will differ slightly in each case, but would usually involve the following stages:

  1. Workshops for validating your business concept. Here you will validate your simplified idea and establish the core value that it will bring to your users.
  2. Decide whether to continue development. After the workshops, you may decide not to continue with development because you might find that you want to re-evaluate your offer to users. But, if you’re certain that you’ve got this right, you’ll be ready to go to the next step.
  3. Preparing a clickable prototype. Your team of UI and UX designers will prepare a clickable mockup of your digital product. This will then be tested and tweaked accordingly.
  4. The development stage. Once the above is complete, your selected mobile development team will build the very first version of your app, and your MVP will be ready to show to your target audience!
  5. The user testing begins. Your MVP will be the first stage of an exciting journey for your digital product. The key here is to test, test and then test some more. All your user feedback will be super valuable in ensuring that your product develops in a functional and effective way, in order to bring you the greatest possible changes of success.

Conclusion

If you’re building a mobile product, an MVP gives you the greatest possible chance of success. After all, some of the most popular apps used today, such as Instagram or Uber, began with a very bare-bones product. In the case of the former, it was merely an app with the functionality to add your photos and has evolved hugely based on observed consumer usage. The key to success, it seems is to start simple, test thoroughly and develop cleverly.

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Swedish edtech startup Sana Labs raises €14.9M to upskill professionals remotely with the help of AI; here’s how

Sana Labs

To minimise the spread of COVID-19, many schools, across the world, have shut down and remote learning has become the only solution to move forward. Many edtech startups have stepped up their game to help teachers, students, and parents to navigate the “new normal” of teaching. The same is just as true in the corporate world, with companies not only having to transition to remote work, but also to figure out how to coach and upskill their workforce. This is where Sweden-based Sana Labs wants to make the difference.

Sana Labs raises €14.9M

In a recent development, the Stockholm-based Sana Labs, a startup that uses artificial intelligence (AI) to personalise training courses for professionals, has raised $ 18M (approx €14.9M) in its series A round of funding.

With this round, the startup has raised a total of $ 23M (approx €19M) in funding, to date.

Investors in this round

The round was led by EQT Ventures. Joel Hellermark, founder of Sana Labs says, “I first met EQT Venture partner Ted Persson when I was interning at Great Works back in 2010. A pioneer in technology, product design, and branding, Ted has been a hero ever since. Thus, I couldn’t be more excited to partner with Ted, former Spotify VP of Analytics Henrik Landgren, former founder Sandra Malmberg, and the rest of the EQT team.”

Use of the raised capital

The Sweden-based company says it will use the funds to boost headcount and sales-focused marketing. In addition, the funds will also be invested in R&D for its platform, which uses machine learning to personalise programmes to a person’s individual learning style and ability.

About Sana Labs

Founded in 2016 by Joel Hellermark, Sana Labs have developed a personalised, adaptive learning platform that enables organisations to accelerate training across the workplace. 

The company applies machine-learning to tailor reskilling and upskilling, with the aim of accelerating time to mastery, improving engagement, and delivering rich learning analytics.

It claims to partner with Fortune 500 organisations to bring the benefits of AI to millions of learners. Its team consists of researchers and engineers with backgrounds ranging from Google AI and Spotify to BCG Gamma and Imperial College.

“We believe in educational empowerment”

According to the company, the global learning industry is vast, valued at over $ 6T in 2018, and is undergoing a sea-change with the move to digital and online instruction, materials, and modalities. The shift to digital and online resources is enabling what many educators consider to be the holy grail of learning  –  personalised, adaptive instruction and assessment. 

With the Sana platform, the company aims to be the engine that drives this change forward –  fundamentally improving the entire industry’s capability to educate and directly impacting millions of peoples’ lives every day.

The company also mentioned in its website that about 2,000 hospitals have adopted the Sana platform to provide efficient skill development to more than 80,000 healthcare professionals in the treatment and prevention of COVID-19. This was done by analysing each nurse’s knowledge gap and personalised the learning path accordingly.

Besides, the platform is also used by some of the world’s major companies including Novartis, Amgen, Mount Sinai and PepsiCo for upskilling and reskilling.

Startups – Silicon Canals

German AI scale-up Konux raises €66.3M to make railway the best mode of transportation; here’s how

Konux

A Munich-based startup, Konux, that uses artificial intelligence (AI) to operate railway networks and minimise train delays has raised $ 80M (approx €66.3M) in its Series C round of funding.

Investors in this round

This round was led by impact investor Sanno Capital. It also saw participation from Athos, the investment vehicle of billionaire brothers Andreas and Thomas Struengmann. Athos is the largest shareholder in Covid-19 vaccine maker BioNTech.

In addition, existing investors also invested in this round including DIVC, and leading Silicon Valley VC New Enterprise Associates (NEA) and NEA’s co-founder and former Chairman Dick Kramlich.

Use of the capital

Following this financing round, the company claims to be the largest AI scale-up in Europe in the field of sustainable transportation. Konux founder and CEO Andreas Kunze says, “Rail will play a major role in our long journey to lower CO2 emissions. To achieve this, rail infrastructure needs to be upgraded and digitised in order to become the mobility choice of tomorrow. Konux is perfectly positioned to become a global market leader in rail’s digital transformation.”

The raised capital will be used to hire 100 data scientists and software engineers to develop and expand Konux’s product portfolio, tripling its staff to 300. Andreas Kunze mentioned, “We will create more than a hundred new and super exciting jobs, especially in data science and software engineering to significantly expand our product portfolio and AI technological leadership. Additionally, we will boost our global market footprint.”

About Konux

The company was founded in 2014 by Andreas Kunze, Dennis Humhal, Maximilian Hasler, Michael Wax, and Vlad Lata. Konux is an AI scale-up, transforming railway operations for a sustainable future. 

It combines Machine Learning and IIoT (Industrial Internet of Things) to deliver Software-as-a-Service (SaaS) solutions for operation, monitoring, and maintenance process automation and in the process increase capacity, reliability, and cost-efficiency. The company claims, the clients today are reducing their maintenance expenses by +25%.

Currently, the company is active in ten countries, both in Europe and the most important rail markets in Asia.

Recent developments

In December 2020, the Munich-based AI start-up won the underlying DB tender for the condition monitoring of switches as critical elements of the rail infrastructure. Both companies concluded a long-term framework agreement. Initially, 1,300 switches will be digitised so that passengers can travel more reliably by train on heavily congested lines. DB invested €15M in this stage of the project.

In February 2019, Konux raised €11.5M in an extension of its Series B round, which brought the total amount raised to €29M. The round was led by New Enterprise Associates (NEA), Upbeat Ventures, MIG AG and new investor Alibaba Group. With the funds, the company wanted to expand internationally, especially in China.

Since its inception in 2014, Konux has raised more than $ 130M (approx €107.6M), expanded to ten countries in Europe and Asia, and was selected by the World Economic Forum (WEF) as one of the world’s 30 most innovative start-ups and scale-ups worldwide.

Startups – Silicon Canals

Oqton raises €33.1M to solve today’s manufacturing challenges with AI; here’s how

Oqton, the US- and Belgium-based software company specialising in AI-based manufacturing, today announces it has raised over $ 40M (nearly €33.1M) in a Series A financing round, led by Fortino Capital, a B2B software investor, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group.

The founding team (Samir Hanna and Ben Schrauwen) and several angel investors, including Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), and Peter Mercelis (Layerwise) also participated in the round.

The financing will be used to further develop its platform while expanding its commercial partnerships in multiple domains and verticals (Additive manufacturing, Robotic welding, CNC machining).

What does Oqton do?

Oqton provides a secure end-to-end cloud-based manufacturing platform, which links data across the entire manufacturing ecosystem spanning across designing to logistics. The cloud platform lets manufacturers operate agile factories and manage complex product mixes with a simplified supply chain and lower inventory.

“Users can automatically capture expert knowledge and eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimise production planning to improve utilisation and quality,” says the company.

Samir Hanna, Oqton’s Co-Founder and Chairman, says: “We can already achieve 100 per cent automation in the dental and jewellery verticals, resulting in 30 per cent overall cost reduction. Given the platform strategy, the software can be targeted to many specific industry verticals, like dental, jewellery, medical, industrial and aerospace, as well as to different personas and workflows within those industries.”

According to the company, Ben Schrauwen, its CTO will be taking over as CEO. Samir Hanna, Oqton’s co-founder and leaving CEO, will become Executive Chairman. Both Hanna and Schrauwen are serial entrepreneurs and have previously worked at Autodesk together.

Founded in 2017, Oqton has 60 employees, a corporate base in San Francisco, USA, and three R&D centres in Belgium, Denmark and China.

Acquisition helps broaden digital manufacturing for Sandvik

Sandvik is a Stockholm-based global engineering group that offers products and services touted to enhance customer productivity, profitability and sustainability. The company is a global leader in select positions such as tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. The company has acquired a minority stake in Oqton.

“This investment is in line with our strategic agenda to broaden our offering in digital manufacturing. We are looking forward to working with Oqton and finding ways to expand our offering for increased customer productivity by creating new products that take advantage of Sandvik’s extensive know-how about manufacturing processes and Oqton’s AI-powered manufacturing solutions”, says Stefan Widing, President and CEO of Sandvik.

The relationship with Oqton will be managed by Sandvik Manufacturing Solutions’ division Design & Planning Automation, within the business area Sandvik Manufacturing and Machining Solutions.

Startups – Silicon Canals

Here’s how PHYSEE, a Dutch startup that introduced a window that doubles as a solar panel intends to use its recently raised €4M funding

PHYSEE

With numerous countries, and organisations committing to carbon neutrality, zero-carbon buildings are finally getting the attention they needed. 

According to the World Economic Forum, buildings are responsible for nearly 40% of global greenhouse gas emissions. Fortunately, the interest and investment in zero-carbon buildings is growing gradually due to various local and global initiatives. 

Image credits: PHYSEE

Raised €4M growth capital

PHYSEE, a Delft-based company that develops coatings, solar, and sensor technology, has received €4M in growth capital for the first half of their Series A investment round. 

The Dutch company got funding from Timeless Investments, SHAPE Capital, DWI Grundbesitz, and the European Research Fund. The dutch startup plans to scale up its technology after recently starting a sales partnership with two global glass manufacturers.

One of the new shareholders of the startup includes the German project developer DWI Grundbesitz, which intends to support PHYSEE with the rollout of SmartSkin sales in Germany. Sales in other countries are expected to follow quickly through the right collaborations.

30% more energy-efficient

PHYSEE is the first company in the world to succeed in developing facades that provide both energy and data, optimising the energy efficiency of buildings.

The primary technology developed by PHYSEE, called SmartSkin, makes buildings up to 30% more energy-efficient, and at the same time, significantly more comfortable for its users. Notably, the company has developed three products – the SmartSkin facade, the PAR+ coating, and the POWER+ coating.

Ferdinand Grapperhaus jr., CEO and co-founder of PHYSEE quotes, “We have been swimming against the tide for six years because we see that things can -and must be- done differently. However, we notice that many investors in the Netherlands often find disruptive and sustainable hardware innovations new and scary to invest in. This is why we are very grateful for the confidence instilled in us by our new shareholders. They take responsibility and are thus a driver for change. Together we are making a difference by scaling up this impactful technology.”

How PHYSEE was born?

PHYSEE was founded by two applied physicists,Ferdinand Grapperhaus, and Willem Kesteloo in 2014 who, during their graduation, found a way to generate electricity with transparent glass. According to the founders, they use creative, physical angles when looking at the buildings to see how they can optimise, using smart and sustainable innovations.

How SmartSkin technology works?

The SmartSkin technology is a combination of sensors, solar cells, and battery system integrated into the window frames. This technology analyses data, such as temperature, light, and air quality, using a self-learning algorithm that independently controls the building’s climate installations (such as sun blinds, lighting, ventilation, and air conditioning). 

“We spend 90% of our time in buildings and for a more sustainable future, we need to develop and use them in innovative ways, both at home and in the office”, says Grapperhaus.

Coating to grow plant faster

On the other hand, the company also developed a coating solution to make plants grow faster with the same amount of sunlight. Named as transparent PAR+, it converts UV light into PAR light, allowing crops to grow 7% faster. 

The Delft-based company will use a part of the funding to test together with the University of Wageningen on how much faster crops (such as tomatoes) grow on the same amount of land.

Daan van der Vorm, owner of SHAPE Capital and VORM Holding: “We have been involved with PHYSEE for several years and the speed at which they can tailor their innovation to the needs of the market is impressive and decisive for us. We like to invest in sustainable solutions that turn our sector upside down – the world can make good use of such players, especially now that the agricultural and real estate sectors have a great need for data-driven solutions. I am proud that we can contribute to this success as an investor and partner.”

Startups – Silicon Canals

Parisian startup Shippeo raises €26.3M to help companies track road transport and provide more sustainable operations; here’s how

Shippeo

Paris-based Shippeo, a SaaS platform that provides real-time transportation visibility, has raised $ 32M (approx €26.3M) in a fresh round of funding. The round is co-led by Battery Ventures, (a technology-focused investment firm) and existing investors, including NGP Capital, ETF Partners, Partech, and Bpifrance Digital Venture. 

Use of the funds

Shippeo will use the current investment to strengthen its position in the market and continue to deliver product innovation.

Speaking on the development, founders Pierre Khoury and Lucien Besse of Shippeo, said, “Battery Ventures, founded in 1983, has a long track record of investing in prominent SaaS businesses in the US and Europe and partnering with management teams to help them grow their businesses smartly. With Battery’s industrial reach and strong experience in the technology sector, Shippeo will carry out its main objectives: strengthening its leading position in Europe and boosting its edge over its competitors.”

About Shippeo

The company was founded in 2014 by Pierre Khoury, Lucien Besse, David Barre, Jean-Bastien Dussart, Brice Hua, and Thibaut Morlot. 

Shippeo aims to build a data platform for the freight industry, by leveraging its growing network, real-time data, and AI to help supply chains deliver exceptional customer service and achieve operational excellence.

The company’s software-as-a-service (SaaS) platform offers an API that integrates transportation management systems as well as telematics products, ERP, and electronic logging device technology, among other data sources. This provides real-time location data, delivery tracking, and a proprietary algorithm to calculate a shipment’s Estimated Time of Arrival (ETA).

Shippeo claims to have tracked more than 140,000 deliveries per month throughout Europe for companies such as Leroy Merlin, Saint-Gobain, and Faurecia.

Solving the pain-point of the freight industry

Due to the Covid-19 scenario, the need for supply-chain visibility has been increasing more than ever. With many countries in lockdown and with unpredictable border closures, companies with advanced visibility solutions have managed to reduce the transport delays and operational inefficiencies.

Beyond tracking shipments, visibility platforms now give supply chains the data-driven transparency to meet various customer demands in uncertain and challenging market conditions.

And supposedly, this is where Shippeo stepped in and claims to have more than doubled its subscription revenues year on year.

Companies using Shippeo’s platform can now identify every pain point and inefficiency end-to-end across their global logistics operations and take action to optimise their processes. This results in lower transportation costs, increased customer satisfaction, and more sustainable operations.

Recent development

Just last October, Shippeo acquired the French company oPhone, bringing major customers in the retail and manufacturing sectors in its community. And now, the company’s total workforce has more than doubled, totaling 160 employees, of which 45% work in R&D.

In February 2020, Shippeo raised €20M in its Series B round led by NGP Capital and ETF Partners, with participation from Bpifrance Digital Ventures and Partech.

Prior to that, the company has raised €10M (2017) in Series A round from Otium Capital and Partech. In 2016, it raised €2M in its Seed round from Otium Capital, and in 2015 it raised its pre-Seed round funding of €90K.

Startups – Silicon Canals

British ‘Fintech-as-a-Service’ provider Rapyd raises €245M at €2.05B, to help businesses thrive in any local market globally; here’s how

Rapyd

The global pandemic has had a dramatic financial impact on both consumers and merchants, this has led to more transactions moving onto digital platforms. In a recent development, London-based Rapyd, a fintech-as-a-service platform that provides local payments network services, has raised $ 300M (approx €245.5M) in its Series D round of funding led by Coatue – a technology-focused investment manager led by Philippe Laffont.

Reportedly, post this round, Rapyd is now valued at $ 2.5B (approx €2.05B). Prior to this, when the company raised funding in 2019, it was valued at $ 1.2B (approx €982M).

Besides, the round also saw participation from several new investors including Spark Capital, Avid Ventures, FJ Labs, and Latitude, along with current investors General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital.

Use of the funds

The raised capital will be used to double the engineering and product teams, as well as expand the “Self-Service” element of Rapyd’s platform. This would empower businesses globally to onboard and utilise its financial capabilities in the shortest possible time frame, claims the company. 

Arik Shtilman, co-founder and CEO of Rapyd, says, “To kick off 2021 with this substantial round of funding to further invest in our platform is a tremendous vote of confidence both in the growing need for local payment solutions that can be deployed at scale globally and more specifically in our vision and company.”

The company will continue its focus on core markets that serve B2C and B2B e-commerce payments, marketplace, and financial services businesses.

Who does Rapyd serve?

Founded in 2016 by Arik Shtilman, Rapyd is a single technology platform that claims to be the fastest way to power local payments anywhere in the world, enabling companies across the globe to access markets quicker than ever before. “We serve multiple industries and verticals, including global e-commerce companies, gig-economy players, banks, and B2B businesses,” says Shtilman.

“We have built a global payments solution for anyone who needs to accept or pay money to their buyers or sellers, move money around the world, or create new fintech services for their users.”

According to the company, it has solved one of the key challenges – fragmentation. Consumers and businesses around the world like to pay and be paid in different ways, including cash, credit cards, bank transfers, ewallets, and local debit schemes. Rapyd gives businesses the ability to offer a choice of any local payment method.

Its platform embeds fintech services into any application and simplifies the offering of local payment methods through an easy-to-use API while managing diverse compliance and regulatory requirements.

Businesses can accept and send payments without having to build their own infrastructure through the Rapyd Global Payments Network which supports local payment methods including cards, bank transfers, ewallets, and cash.

The platform is unifying fragmented payment systems worldwide by bringing together over more than 900 payment methods in over 100 countries.

“The demand for online payments has skyrocketed following the restrictions due to the effects of COVID, and as a company, we are well placed to provide businesses across the globe with the solutions they need and to get them up and running fast,” says Arik Shtilman. 2020 experienced a massive acceleration in the adoption of local and cross-border digital payments, which has fueled tremendous global growth for Rapyd.

Following Rapyd’s acquisition and integration of European card acquirer Korta in 2020, the company is now exploring additional strategic acquisitions in the Americas, Asia-Pacific and Europe, Middle East and Africa.

Previous fundraising

In December 2019, the company secured $ 20M (approx €18M) in a funding round led by Durable Capital Partners LP.

Prior to that in October 2019, the company raised $ 100M (approx €92M) in its Series C round of funding, led by Oak HC/FT along with participation from Tiger Global, Coatue, General Catalyst, Target Global, Stripe and Entrée Capital.

And, in February 2019, Rapyd raised $ 40M (approx €35M) in its Series B round jointly led by General Catalyst and Stripe, a payments giant along with the participation of other investors such as Target Global and IGNIA. It said that the funds were raised to add more functions to its platform, and to expand its customer base, and hire more staff.

Startups – Silicon Canals

Here’s why Just Eat Takeaway wants to remain listed in Amsterdam

Jitse-Groen-just-eat-Takeaway

The last year was a big game-changer for many companies. Food delivery startups witnessed commendable growth during the lockdown in 2020, and this is clearly indicated in Just Eat Takeaway.com’s Q4 2020 trading update. However, before we get to that, the company announced a big news that it no longer intends to delist its shares from Euronext Amsterdam “as soon as possible and it will remain listed at both the London Stock Exchange and Euronext Amsterdam until otherwise decided.”

Here’s the reason behind it. 

Just Eat Takeaway will not be delisted from Euronext Amsterdam, for now

Back in August 2019, Just Eat Takeaway announced its intentions to get its shares delisted from Euronext Amsterdam. This was to be done as soon as possible under applicable Dutch law and the rules, regulations and announcements of Euronext Amsterdam. The delisting was expected to occur about 20 trading days after February 3, 2021, which would mark 12 months after the company’s listing and admission to trading of Just Eat Takeaway.com’s shares on the Premium Segment of the London Stock Exchange’s Main Market for listed securities. 

However, back on June 10, 2020, the food delivery company announced its acquisition of Grubhub in an all-share transaction, which is set to complete in the first half of 2021. Since Grubhub Inc. is an American online food ordering and delivery platform, it falls under the rules of the U.S. Securities and Exchange Commission. Thus, Just Eat Takeaway is required to register and list in the U.S. the shares being offered to Grubhub shareholders.

Just Eat Takeaway has now announced its plans to delay any decision on the structure of its listing venues. This will result in its shares still being listed at both the London Stock Exchange and Euronext Amsterdam until stated otherwise. 

Just Eat Takeaway’s Q4 2020 trading updates

Alongside the news of Just Eat Takeaway cancelling delisting of its shares, the company also announced its Q4 2020 trading updates. As per the media release, the company is investing in its most important countries to strengthen its position, which apparently led to accelerating growth both in Marketplace Orders as well as in its Delivery business, combined with notable financial performance.

“The fourth quarter of 2020 marks our third consecutive quarter of order growth acceleration. Our investment programme is very successful and has led to significant market share gains in most of our countries. The progress in the UK is particularly exciting; order growth of 58 per cent and we have increased our Delivery Orders nearly five-fold in the fourth quarter of 2020 compared with the same period in 2019,” says Jitse Groen, CEO of Just Eat Takeaway.com

“In 2021, we will continue to invest in price leadership, improving our service levels and expanding our offering to restaurants and consumers,” he adds. 

The company increased its efforts in the Just Eat UK business by changing its marketing strategy and increasing marketing investments. Its UK sales force has also doubled over the previous year. Delivery Orders in the UK for the company surged a whopping 387 per cent in Q4 2020 compared with Q4 2019. 

Just Eat Takeaway launched a new loyalty programme in Canada, which is expected to drive further growth. In Germany and the Netherlands, the company’s order growth is said to have grown exponentially as it witnessed over 12 million orders and ca. 4 million orders respectively in Q4 2020 compared with the same period last year. Orders in Rest of the World grew 47 per cent in Q4 2020 compared with the same period last year, with Australia (+166 per cent) in particular demonstrating outstanding performance.

For the full year 2020, the company’s management expects revenue growth of over 50 per cent with an adjusted EBITDA margin of approximately 10 per cent. The company will continue to invest heavily and prioritise market share over adjusted EBITDA. Just Eat Takeaway.com also invested €45M to implement measures to support restaurants, couriers, healthcare workers and charitable initiatives in 2020.

Startups – Silicon Canals

German health tech Kenbi raises €7M to boost home care nursing industry; here’s how

Kenbi

Berlin-based tech-driven startup, Kenbi, which is developing software to help nurses as well as fill the gaps in the healthcare system, has raised €7M in its Seed round of funding. The round was led by Redalpine, and existing investors including Heartcore, e.ventures, and Partech.

Use of the raised capital

Kenbi will use the raised capital to grow its care-teams, automate back-office processes and further develop the proprietary care and staff management app.

Everything about Kenbi

The company was founded in 2019 by Bruno Pires, Clemens Raemy, and Katrin Alberding. Kenbi is on a mission to attract more people to the nursing profession by improving the job itself and re-centering patient care.

The company brings professional care services to patients in the comfort of their homes, serving long and short-term patients in Germany. Their services include insurance authorised and covered medical care, household help, basic care, advice, and companionship. 

All teams are supported by mobile technologies across their work activities. Bruno Pires, CTO & co-founder of Kenbi explains, “Building a full-stack technology platform is essential to scale a decentralised care model. Our proprietary nurse app helps to connect team-members and team-hubs with each other and allows nurses to focus on their patients instead of paperwork and bureaucracy. It enables efficient care planning, team coordination, documenting, and analysis of data.”

Additionally, Kenbi is known to offer expert help in the areas of diabetes, wound care, and palliative care.

What is it doing differently?

The Kenbi model stands apart from other outpatient care services, as it replaces hierarchies for self-managed teams and empowers caretakers through digitalisation, higher education and decision-making power within their local teams

Explaining the Kenbi model, co-founder Katrin Alberding, says, “A happy nurse means a happy patient. In a market where people make all the difference, we saw the need to re-think home care from the perspective of the nurse. Our solution is a model that combines innovative organisational structures with agile processes and digital tools.” 

Instead of creating one big hierarchy, Kenbi grows organically through many small, local and self-organising teams that are more agile and intimately connected within their network.

The company claims to provide home care to over 400 patients through decentralised, local care-teams and is growing rapidly across Germany.

Market watch

The German out-patient care market is projected to be worth €25B by 2030 due to demographic developments such as an aging western population. The market is largely funded by mandatory insurance and is highly fragmented, with the top 15 players holding less than 3% market share. The sector is still massively “under-digitised” – paper and fax are the standard communication tools even today.

With a shortage of up to 500,000 caregivers in the German care system by 2030, Kenbi is on a mission to make the nurse job attractive again.

Startups – Silicon Canals