Unicorn Companies in Germany in 2024

Volocopter

• Valuation: $1.87B
• Industry: Industrials
• Investors: btov Partners, Geely, Intel Capital
• Unicorn Milestone Date: 03/04/2022

About

Volocopter is a German urban air mobility (UAM) company and unicorn startup based in Bruchsal, Germany. As one of the prominent unicorn companies in Germany, Volocopter was founded in 2011 and is pioneering the development of electric vertical takeoff and landing (eVTOL) aircraft for passenger and cargo transportation in urban areas. The company aims to revolutionise urban mobility by offering safe, quiet, and emission-free air taxi services to alleviate traffic congestion and reduce travel times in cities worldwide.

Target Audience

Volocopter's target audience includes:

• Urban commuters seeking faster and more efficient transportation options
• City dwellers looking for eco-friendly alternatives to traditional ground-based transport
• Businesses requiring rapid cargo delivery services
• Cities and municipalities aiming to implement innovative mobility solutions
• Investors interested in the emerging UAM market

Business Model

Volocopter's business model revolves around developing and operating a comprehensive UAM ecosystem:

• Aircraft Development: Volocopter designs and manufactures eVTOL aircraft for passenger and cargo transport.
• Infrastructure Development: The company creates VoloPorts, which are vertiports designed for eVTOL operations in urban areas.
• Air Taxi Services: Volocopter plans to operate commercial air taxi routes in major cities, starting with Paris and Rome in 2024.
• Partnerships: The company collaborates with cities, aviation authorities, and industry partners to establish UAM ecosystems and ensure regulatory compliance.
• Software Platform: VoloIQ, Volocopter's digital backbone, manages and optimises aircraft fleets and urban integration efforts.
• Licensing and Joint Ventures: Volocopter forms strategic partnerships and joint ventures to expand its global reach, such as its collaboration with WP Investment for operations in South Korea.

Key Offerings

VoloCity: A two-seat electric air taxi for short urban trips
VoloRegion: An aircraft designed for longer inter-city routes (up to 100 km)
VoloDrone: An unmanned aerial vehicle for cargo transport
VoloPort: Vertiport infrastructure for eVTOL operations
VoloIQ: Software platform for UAM ecosystem management

Key Management

• Dirk Hoke: CEO
• Christian Bauer: CCO

Investment Timeline

• March 2022: Raised $170 million in Series E funding at a $1.7 billion valuation
• November 2022: Raised an additional $182 million in the second signing of Series E funding
• Total funds raised: $579 million as of March 2022

N26

• Valuation: $9.23B
• Industry: Financial Services
• Investors: Redalpine Venture Partners, Earlybird Venture Capital, Valar Ventures
• Unicorn Milestone Date: 01/10/2019

About

N26 is a leading digital bank founded in 2013 by Valentin Stalf and Maximilian Tayenthal. Based in Berlin, Germany, N26 aims to revolutionise the banking industry by offering a fully digital, mobile-first banking experience. With over 8 million customers across 24 markets, N26 has grown rapidly and is valued at over $9 billion, making it one of the most significant unicorns in the fintech sector13.

Target Audience

N26 primarily targets tech-savvy millennials and Gen Z users who prefer a seamless, digital banking experience. The bank also appeals to freelancers and self-employed individuals, particularly in markets like Italy, where such demographics are substantial2.

Business Model

N26 operates on a freemium model, offering a range of banking services primarily through its mobile app and web platform. The business model revolves around:

• Free Basic Services: Users can open a free bank account within minutes, which includes a virtual debit card and basic banking functionalities.
• Premium Accounts: N26 offers several premium accounts (Smart, You, Metal) that provide additional features such as travel insurance, cashback, and exclusive partner offers for a monthly fee.
• Transaction Fees and Interchange Fees: N26 earns revenue from transaction fees on premium accounts and interchange fees from card transactions.
• Insurance Products: The bank also offers various insurance products, generating additional revenue through premiums.

Key Offerings

1. N26 Standard: Free digital bank account with basic features.
2. N26 Smart: Account with advanced tools for spending and saving (€4.90/month).
3. N26 You: Account tailored for travel and everyday needs (€9.90/month).
4. N26 Metal: Premium account with exclusive perks and a metal card (€16.90/month).
5. Business Accounts: Specialized accounts for freelancers and self-employed individuals, offering cashback and other business-oriented features.

Key Management

• Valentin Stalf: Founder and Chief Executive Officer
• Maximilian Tayenthal: Founder, Co-CEO, and Chief Operating Officer
• Carina Kozole: Managing Director and Chief Risk Officer
• Jan Stechele: Managing Director and Chief Regulatory Officer

Investment Timeline

• 2013: Founded by Valentin Stalf and Maximilian Tayenthal.
• 2015: Launched the first products in Germany and Austria.
• 2016: Obtained a full European banking license.
• 2019: Raised $300 million in Series D funding, followed by a $170 million extension.
• 2021: Raised over $900 million in Series E funding, valuing the company at over $9 billion

Trade Republic

• Valuation: $5.36B
• Industry: Financial Services
• Investors: Founders Fund. Accel, Creandum
• Unicorn Milestone Date: 5/20/2021

About

Trade Republic is a German fintech unicorn founded in 2015 and based in Berlin. As one of the notable unicorn companies in Germany, it operates as a neo-broker, offering a user-friendly mobile app and web platform for trading stocks, ETFs, derivatives, and cryptocurrencies. The company's mission is to democratise access to capital markets, making wealth accumulation and retirement planning easier for millions of Europeans.

Target Audience

Trade Republic primarily targets retail investors, particularly younger generations and first-time investors who are looking for a simple, low-cost way to enter the financial markets.

Business Model

Trade Republic operates on a commission-free model, charging only €1 per trade to cover third-party expenses. The company generates revenue through:

• Payment for Order Flow (PFOF): Trade Republic receives rebates from transactions carried out with partners like LS Exchange, HSBC, Citibank, and SG.
• Spread on cryptocurrency trades
• Interest on uninvested cash balances
• Premium features and services

Key Offerings

• Commission-free trading of stocks and ETFs
• Cryptocurrency trading
• Free and customisable stock and ETF savings plans
• Extended trading hours (7:30 AM to 11 PM)
• Real-time stock prices and historic charts
• Price alerts and push notifications
• Mobile portfolio opening
• Personalised timeline and data analysis tools

Key Management

• Christian Hecker: Founder and CEO
• Thomas Pischke: Founder
• Marco Cancellieri: Founder

Investment Timeline

• 2017: Initial investment from sino AG
• Spring 2020: Series B round led by Accel and Founders Fund
• May 2021: Series C round of $870 million led by Sequoia, with participation from TCV, Thrive Capital, Accel, Founders Fund, Creandum, and Project A
• Recent: Additional €250 million Series C extension, bringing total funding to $1.2 billion

wefox

• Valuation: $4.50B
• Industry: Insurance
• Investors: Salesforce Ventures, Seedcamp, OMERS Ventures
• Unicorn Milestone Date: 03/05/2019

About

Wefox is a Berlin-based digital insurance company, also known as an insurtech unicorn, that aims to revolutionise the insurance industry by leveraging innovative technology and personalised services. As one of the distinguished unicorn companies in Germany, Wefox was founded by Julian Teicke, Fabian Wesemann, and Dario Fazlic. It offers a comprehensive range of insurance products from over 200 providers, ensuring that customers receive the best possible coverage tailored to their needs. The company emphasises simplicity, transparency, and customer-centric solutions, making insurance more accessible and effective for over 2 million customers worldwide.

Target Audience

Wefox primarily targets:

• Individuals and families seeking comprehensive and personalised insurance solutions.
• Small to medium-sized businesses looking for tailored insurance packages.
• Tech-savvy consumers who prefer digital solutions for managing their insurance needs.
• Customers who value transparency, simplicity, and personalised service in their insurance dealings.

Business Model

Wefox operates on a digital-first business model that combines advanced technology with human expertise to provide a seamless insurance experience. The key components of their business model include:

• Digital Platform: Wefox's platform aggregates policies from over 200 insurance providers, allowing customers to compare and select the best options.
• Personalised Service: Customers receive personalised advice from independent advisors who use digital tools to review and recommend policies based on individual needs.
• Transparency: The company ensures there are no hidden fees or fine print, providing clear and straightforward insurance options.
• Scalability: By leveraging technology, Wefox can scale its operations and reach a larger audience without compromising on service quality.
• Partnerships: Wefox collaborates with various insurance providers rather than competing with them, enhancing the overall value proposition for customers.

Key Offerings

• Household Insurance
• Motor Insurance
• Life Insurance
• Health Insurance
• Travel Insurance
• Business Insurance

Key Management

• Julian Teicke: CEO and Founder
• Fabian Wesemann: Co-Founder and CFO
• Dario Fazlic: Co-Founder

Investment Timeline

• Series A: $28 million from Horizons Ventures and VC Target Global.
• Series B: $235 million, expansion into Austria and rebranding to Wefox.
• Series C: $650 million, led by Target Global, valuing the company at $3 billion.
• Series D: $450 million, led by Mubadala Investment, valuing Wefox at $4.5 billion.

Contentful

• Valuation: $3B
• Industry: Enterprise Tech
• Investors: Balderton Capital, General Catalyst, Tiger Global Management
• Unicorn Milestone Date: 7/28/2021

About

Contentful is a headless content management system (CMS) founded in 2013 in Berlin, Germany, by Sascha Konietzke and Paolo Negri. It is a composable content platform designed to power digital experiences by decoupling content creation from content presentation. This approach allows businesses to deliver content seamlessly across various digital channels, including websites, mobile apps, and IoT devices. Contentful's platform is known for its flexibility, scalability, and developer-friendly APIs, making it a preferred choice for modern content management needs.

Target Audience

Contentful primarily targets medium to large enterprises across various industries, including e-commerce, media and entertainment, technology, healthcare, and more. Its users are typically tech-savvy and value flexibility, scalability, and customisation in their content management solutions. The platform serves a global customer base with a strong presence in North America, Europe, and Asia.

Business Model

Contentful operates on a subscription-based business model, offering various pricing plans to cater to different business needs. The plans range from free tiers for small projects to custom enterprise solutions that include advanced features and dedicated support. Contentful generates revenue by providing access to its platform and additional services such as technical support, customer success, and professional services. The platform's flexibility allows businesses to scale their usage and customise their plans based on their specific requirements.

Key Offerings

• Headless CMS: Decouples content creation from presentation, allowing content to be delivered across multiple channels.
• Composable Content Platform: Provides a centralised hub for all content, ensuring it is organised and accessible.
• APIs and SDKs: Developer-friendly tools for integrating content into various applications.
• Customisable Content Modeling: Allows businesses to define and tailor content types, fields, and relationships.
• Agile Content Delivery: Efficient content retrieval and distribution through APIs.
• Enhanced Collaboration: Features like granular user roles and permissions to facilitate teamwork.
• Cloud-based Scalability: Leverages cloud infrastructure for high availability and scalability.

Key Management

• Steve Sloan: CEO
• Sascha Konietzke: Co-founder
• Paolo Negri: Co-founder

Investment Timeline

Forto

• Valuation: $2.10B
• Industry: Industrials
• Investors: Cherry Ventures, Northzone Ventures, Global Founders Capital
• Unicorn Milestone Date: 6/21/2021

About

Forto is a Berlin-based unicorn startup specialising in digital logistics and freight forwarding. As one of the notable unicorn companies in Germany, Forto was founded in 2016 as FreightHub and leverages advanced technology to provide highly transparent, efficient, and sustainable supply chain solutions. The company aims to revolutionise logistics by offering seamless digital visibility and operational efficiency across various modes of transport, including sea, air, and rail. Forto's technology-driven approach empowers businesses to manage their supply chains more effectively and sustainably.

Target Audience

Forto primarily serves:

• E-commerce companies
• Global brands
• Nonprofits
• Industries such as fashion, furniture, electronics, and more

Business Model

Forto operates on a B2B (business-to-business) model, providing digital logistics solutions that streamline and optimise the supply chain processes for companies. The business model focuses on:

• Digital Platform: Offering a user-friendly digital platform for real-time tracking, booking, and managing shipments.
• Freight Services: Providing comprehensive freight forwarding services, including sea, air, and rail transport.
• Value-Added Services: Offering customs brokerage, insurance, and pre/on-carriage services.
• Sustainability: Promoting eco-friendly logistics solutions by offering biofuel options and carbon-offsetting programs.
• Technology Integration: Utilising AI and machine learning to enhance operational efficiency and transparency.

Key Offerings

• Sea Freight: Full-service offerings with long-term contracts and Maersk Spot integration.
• Air Freight: Global reach with a strong network and easy process.
• Rail Freight: Fast, reliable, cost-effective, and sustainable options.
• Customs Brokerage: Fast and reliable customs clearance with digital document management.
• Insurance Coverage: Door-to-door cargo insurance.
• Buyers Consolidation: Managing cost, time, and effort by consolidating shipments from multiple origin suppliers.

Key Management

• Michael Wax: CEO and Co-Founder
• Erik Muttersbach: CTO and Co-Founder
• Dr. Michael Ardelt: COO
• Anne-Marie Andric: Chief People Officer
• Thomas Eisenblätter: Vice President Global Sea Freight Management
• Kamil B. Rodoper: Executive VP of Product
• Jochen Freese: Executive Vice President of Procurement and Business Development

Investment Timeline

• June 2021: Valuation reached $2.1 billion after raising $240 million in funding led by SoftBank Vision Fund 2.
• April 2021: Raised $240 million, bringing the valuation to $1.2 billion.
  

Razor

• Valuation: $1.7B
• Industry: Consumer & Retail
• Investors: Global Founders Capital, 468 Capital, Redalpine Venture Partners
• Unicorn Milestone Date: 11/08/2021

About

Razor Group is a Berlin-based e-commerce company founded in 2020. It specialises in acquiring successful Amazon FBA (Fulfillment by Amazon) businesses and scaling them up using advanced technology and data-driven strategies. The company aims to build a global consumer goods powerhouse by transforming local consumer products into globally recognised brands. Razor Group achieved unicorn status in 2021 after raising $125 million in a Series B funding round, which brought its valuation to over one billion euros.

Target Audience

Razor Group primarily targets:

• Amazon FBA business owners looking to sell their businesses.
• Consumers seeking high-quality, innovative consumer goods.
• Investors interested in high-growth e-commerce ventures.

Business Model

Razor Group's business model revolves around acquiring and scaling successful Amazon FBA businesses. Here’s how it works:

• Acquisition: Razor Group identifies and acquires promising Amazon FBA businesses with solid track records and growth potential.
• Integration: These businesses are integrated into Razor Group’s platform, where they benefit from the company's technological capabilities and market expertise.
• Optimisation: Using data-driven insights, Razor Group optimises product offerings, marketing strategies, and operational efficiencies to enhance profitability.
• Scaling: By leveraging economies of scale, Razor Group negotiates better terms with suppliers and expands the market reach of the acquired brands.
• Revenue Generation: The primary revenue source is the increased sales and profitability of the acquired brands. Additionally, strategic divestment of brands may occur once they reach a certain growth level.

Key Offerings

• Brand Acquisition: Purchasing successful Amazon FBA businesses.
• Brand Scaling: Enhancing and expanding acquired brands using advanced technology and market strategies.
• Operational Optimisation: Improving operational efficiencies to boost profitability.
• Data-Driven Insights: Utilising proprietary technology and data infrastructure to optimise business operations.

Key Management

• Tushar Ahluwalia: Founder and Chief Executive Officer (CEO).
• Shrestha Chowdhury: Chief Technology Officer (CTO).
• Felix Gamon: Chief of Staff.

Investment Timeline

• 2021: Achieved unicorn status after raising $125 million in a Series B funding round.

Solaris

• Valuation: $1.6B
• Industry: Financial Services
• Investors: Yabeo Capital, SBI Investment, Vulcan Capital
• Unicorn Milestone Date: 7/13/2021

About

Solaris is a Berlin-based fintech unicorn that provides Banking-as-a-Service (BaaS) solutions. As one of the prominent unicorn companies in Germany, Solaris was founded in 2016 and has developed a proprietary technology platform that enables businesses to offer financial services without needing their own banking license. The company reached unicorn status in 2021 with a valuation of over €1.4 billion.

Target Audience

Solaris primarily targets:

• Fintech startups
• Digital businesses
• Traditional companies looking to offer financial services
• Neobanks and challenger banks

Business Model

Solaris operates on a B2B2C model, providing white-label banking infrastructure to businesses. Their platform allows partners to integrate banking and payment services directly into their own products. Solaris handles the regulatory and technical complexities of banking, allowing their clients to focus on their core business and customer experience. The company generates revenue through:

1. Setup fees for integrating partners onto their platform
2. Monthly subscription fees for access to their services
3. Transaction-based fees for various banking operations
4. Additional fees for value-added services and customisations

Key Offerings

• Digital banking infrastructure
• Payment processing services
• Card issuing (debit and credit)
• Lending solutions
• Know Your Customer (KYC) and compliance services
• Account and transaction management
• API integration for seamless service delivery

Key Management

• Carsten Höltkemeyer - Chief Executive Officer

Investment Timeline

• 2016: Founded
• 2017: €26.3M Series A
• 2018: €56.6M Series B
• 2019: €63.6M Series C
• 2020: €60M Series C extension
• 2021: €190M Series D (achieving unicorn status)
• 2022: €190M Series E
• 2024: €96M Series F

Choco

• Valuation: $1.20B
• Industry: Consumer & Retail
• Investors: Bessemer Venture Partners, G Squared, Insight Partners
• Unicorn Milestone Date: 04/12/2022

About

Choco is a Berlin-based technology company that aims to revolutionise the food supply chain by digitising the ordering, supply chain, and communication processes for restaurants and suppliers. Founded in 2018 by Daniel Khachab, Julian Hammer, and Grégoire Ambroselli, Choco's mission is to reduce food waste and create a more efficient and sustainable food system. The company has rapidly expanded and achieved unicorn status with a valuation of $1.2 billion.

Target Audience

Choco primarily targets:

• Restaurants: From small eateries to Michelin-starred establishments.
• Suppliers and Distributors: Food wholesalers and suppliers looking to streamline their operations and reduce waste.

Business Model

Choco operates on a B2B model, providing a digital platform that connects restaurants with their suppliers. The platform offers various functionalities such as order management, inventory tracking, and communication tools. Choco's business model includes:

• Free Basic Services: Basic order transmission services are offered for free to all restaurants.
• Premium Features: Suppliers can pay a fee to get listed and create profiles for targeted marketing and enhanced digital interactions.
• AI Integration: The platform uses AI to automate order processing, predict demand, and reduce errors, thereby increasing efficiency and reducing food waste.

Key Offerings

• Order Management: Simplifies order placement and tracking.
• AI-CRM Solution: Predicts customer order patterns and helps retain customers.
• Marketing Assistant: Sends promotions and provides analytics to reduce food waste.
• Inventory Management: Helps manage inventory and reduce spoilage.
• Communication Tools: Facilitates communication between restaurants and suppliers through a chat interface.

Key Management

• Daniel Khachab: Co-founder and CEO
• Julian Hammer: Co-founder
• Grégoire Ambroselli: Co-founder

Investment Timeline

• 2019: Raised $33.5 million in Series A funding led by Bessemer Venture Partners.
• 2020: Raised $30.2 million in a Series B round, valuing the company at $230 million.
• 2021: Raised $100 million in Series B, increasing the valuation to $600 million.
• 2022: Raised $111 million in Series B2, achieving a valuation of $1.2 billion and unicorn status.

Flink

• Valuation: $1.07B
• Industry: Consumer & Retail
• Investors: Mubadala Capital, Bond, Prosus Ventures
• Unicorn Milestone Date: 12/01/2021

About

Flink SE is a Berlin-based on-demand grocery delivery service that promises to deliver everyday items to consumers within 10 minutes. As one of the emerging unicorn companies in Germany, Flink was founded in late 2020 and operates from "dark stores," which are hyper-local warehouses not accessible to the public. The company has quickly grown to become a leading player in the European rapid delivery market, surpassing competitors like Gorillas. Flink's service is available in Germany, France, and the Netherlands, offering a wide range of groceries and household essentials at competitive prices.

Target Audience

Flink primarily targets:

• Urban residents: Individuals living in densely populated areas.
• Busy professionals: People with limited time for grocery shopping.
• Millennials: A tech-savvy demographic that values convenience.
• Families: Households needing frequent grocery replenishments.
• Elderly and vulnerable populations: Those who require safe and reliable delivery services.

Business Model

Flink operates on a multi-faceted business model that includes several revenue streams:

• Delivery Fees: Customers are charged a fixed fee for the convenience of rapid delivery, which varies based on location and delivery distance.
• Product Markup: Flink purchases groceries in bulk at lower prices and sells them at slightly higher prices, leveraging economies of scale.
• Peak Hour Pricing: Additional charges are applied for orders placed during peak hours to manage demand and boost revenue.
• Advertising: Flink generates supplementary income by offering advertising space on its platform for other businesses.
• Partnerships: Collaborations with large merchants like REWE, which provide favourable rates for bulk purchases, further enhance profitability.

Key Offerings

• Instant Grocery Delivery: Promises delivery within 10 minutes.
• Wide Product Selection: Over 2,400 items including fresh produce, meat, dairy, bakery items, snacks, and household essentials.
• Competitive Pricing: Prices comparable to supermarket rates.
• User-Friendly App: Easy-to-use mobile application for browsing, ordering, and tracking deliveries.
• Quality Assurance: Fresh and high-quality products sourced from trusted suppliers.
• Convenience: Eliminates the need for physical supermarket visits.

Key Management

• Oliver Merkel: CEO and Co-founder
• Christoph Cordes: Co-founder
• Julian Dames: Co-founder.

Investment Timeline

• February 2021: Raised $52 million in a funding round.
• June 2021: Secured $240 million in a Series B round.
• December 2021: Achieved unicorn status with a $750 million Series B round, reaching a valuation of $2.1 billion.
• 2022: Acquired French competitor Cajoo, expanding its market presence in France.
• April 2024: French subsidiary filed for bankruptcy, indicating challenges in the French market.

GetYourGuide

• Valuation: $2B
• Industry: Consumer & Retail
• Investors: Spark Capital, Highland Europe, Sunstone Capital
• Unicorn Milestone Date: 5/16/2019

About

GetYourGuide is a Berlin-based startup that operates an online marketplace for travel activities. Founded in 2009 by Johannes Reck, Tao Tao, Martin Sieber, and Tobias Rein, the company connects travellers with a wide range of tours, excursions, activities, and tickets to tourist attractions. The platform offers over 100,000 products from more than 20,000 supply partners worldwide. GetYourGuide achieved unicorn status in 2019 when it raised $484 million in a Series E funding round, valuing the company at over $1 billion.

Target Audience

GetYourGuide primarily targets:

• Travelers and Tourists: Individuals looking for curated travel experiences, tours, and activities in various destinations around the world.
• Experience Providers: Tour operators and service providers who want to reach a global audience and increase their bookings through an established platform.

Business Model

GetYourGuide's business model revolves around the experience industry, focusing on offering a curated portfolio of tours and activities. The company operates as a two-sided marketplace:

• For Consumers: It provides a user-friendly platform where travellers can search for, compare, and book a variety of travel experiences.
• For Providers: It allows experience providers to list their services on the platform, charging them a commission on each sale. The company also ensures quality by removing providers with consistently poor reviews and by selling tours under its own brand name, adhering to standardised best practices.

Key Offerings

• Tours and Excursions
• Cooking Classes
• Tickets to Tourist Attractions
• Customisable Travel Experiences

Key Management

• Johannes Reck: Co-Founder and Chief Executive Officer
• Tao Tao: Co-Founder
• Martin Sieber: Co-Founder
• Tobias Rein: Co-Founder

Investment Timeline

• 2009-2017: Raised $170 million over four funding rounds.
• April 2019: Raised $484 million in a Series E round, achieving unicorn status with a valuation over $1 billion.
• June 2023: Raised an additional $194 million, bringing the company's valuation to approximately $2 billion.

Sennder

• Valuation: $1.10B
• Industry: Industrials
• Investors: Accelm Scania Growth Capital, Lakestar
• Unicorn Milestone Date: 1/14/2021

About

Sennder is a digital freight-forwarding company based in Berlin, Germany, founded in 2015 by David Nothacker, Julius Köhler, and Nicolaus Schefenacker. As one of the prominent unicorn companies in Germany, it has rapidly grown to become Europe's leading digital road freight forwarder, leveraging technology to transform traditional logistics processes. Sennder connects large commercial shippers with small freight carriers, offering a transparent, flexible, and efficient road freight network. The company operates a fleet of over 40,000 trucks across Europe and has access to more than 120,000 vehicles, employing over 1,000 people.

Target Audience

Sennder primarily targets:

• Large commercial shippers: Enterprises requiring efficient and reliable freight transportation.
• Small and mid-size freight carriers: Trucking companies looking to maximise their fleet utilisation and revenue.

Business Model

Sennder operates as a digital freight forwarder, focusing on the Full Truck Load (FTL) market. Its business model revolves around the digitalisation and automation of road logistics processes. Key aspects of Sennder's business model include:

• Platform-based approach: Sennder uses a proprietary digital platform to connect shippers and carriers, optimising route planning and freight matching through advanced algorithms and real-time data.
• Revenue generation: Sennder earns revenue by taking a commission on each shipment facilitated through its platform. The company also offers value-added services like invoice factoring and sustainability solutions, which provide additional revenue streams.
• Partnerships and Joint Ventures: Sennder collaborates with industry leaders like Poste Italiane and Mercitalia Logistics to enhance its service offerings and expand its market reach.

Key Offerings

• Real-time tracking and visibility: Provides shippers with real-time updates on their shipments, enhancing transparency and efficiency.
• Advanced route optimisation: Uses algorithms to optimise routes, reducing empty kilometres and improving fleet utilisation.
• Sustainability solutions: Offers green transport options, including electric vehicles and advanced fuels, to help clients meet their ESG targets.
• Full-service operations: Manages the entire logistics process for shippers, from booking to delivery.
• Digital documentation and invoicing: Streamlines administrative tasks with electronic documentation and automatic invoicing.
• Financial services: Provides carriers with financial flexibility through services like invoice factoring.

Key Management

• David Nothacker: Co-Founder & CEO
• Julius Köhler: Co-Founder & Managing Director
• Nicolaus Schefenacker: Co-Founder & Managing Director

Investment Timeline

• 2015: Founded by David Nothacker, Julius Köhler, and Nicolaus Schefenacker.
• 2019: Raised $70 million in Series C funding.
• 2020: Merged with Everoad, forming "Everoad by Sennder."
• 2021: Secured Series D funding, focusing on technology development and geographical expansion.
• 2023: Renewed joint venture with Poste Italiane, expected to generate €2.3 billion over ten years.

Enpal

• Valuation: $1.10B
• Industry: Industrials
• Investors: HV Capital, Softbank Group, BlackRock
• Unicorn Milestone Date: 10/18/2021

About

Enpal is a Berlin-based green energy unicorn startup founded in 2017. It provides integrated renewable energy solutions for homeowners, with a focus on making solar energy adoption simple and affordable. As Germany's first green tech unicorn, Enpal has become one of the largest residential solar installers and fastest-growing energy companies in Europe.

Target Audience

Enpal primarily targets homeowners in Germany and Italy who want to adopt solar energy and other renewable energy solutions for their homes.

Business Model

Enpal's business model revolves around making solar energy adoption easy and accessible for homeowners. The company offers a unique "solar-as-a-service" model, where customers can rent solar systems instead of purchasing them outright. This approach eliminates the need for high upfront costs.

Key features of Enpal's business model include:

• Rental model: Customers pay a fixed monthly rent for the solar system, with no upfront costs.
• All-inclusive package: Enpal provides installation, maintenance, and replacement services for 20 years.
• Integrated solutions: The company offers a complete package including solar panels, energy storage, EV charging stations, and energy management software.
• In-house capabilities: Enpal has its own training center for solar installers and an installation company with over 1,000 permanently employed installers and electricians.
• Direct purchasing: The company buys directly from major PV manufacturers to overcome supply chain bottlenecks.

Key Offerings

• Solar panel systems
• Energy storage solutions
• Electric vehicle charging stations (wallboxes)
• Heat pumps
• Smart energy management software (Enpal App)
• Green electricity tariffs

Key Management

• Mario Kohle: Founder and CEO
• Viktor Wingert: Co-founder and Chief Investment Officer
• Jochen Ziervogel: Co-founder

Investment Timeline

• January 2020: €125 million Series E round
• July 2021: $355 million Series F round, valuing the company at $2.6 billion and solidifying its unicorn status

Omio

• Valuation: $1B
• Industry: Consumer & Retail
• Investors: Lakestar, Battery Ventures, New Enterprise Associates
• Unicorn Milestone Date: 10/23/2018

About

Omio is a Berlin-based travel technology unicorn founded in 2013 by Naren Shaam. Originally launched as GoEuro, the company rebranded to Omio in 2019 to reflect its global ambitions. As one of the notable unicorn companies in Germany, Omio is a multi-modal travel booking platform that allows users to find and book trains, buses, flights, and ferries across Europe and North America.

Target Audience

Omio primarily caters to travelers aged 25-44, with a slight male majority (57% male vs. 43% female). The platform serves users in various markets, including Spain, France, Italy, the UK, Germany, the USA, and other European countries.

Business Model

Omio operates on a commission-based model, earning revenue from each booking made through its platform. The company partners with over 1,000 transportation providers across 37 countries, offering a comprehensive range of travel options. Omio's success is driven by its user-friendly interface, mobile-first approach, and ability to combine different modes of transport for seamless journey planning. The company also generates revenue through its B2B offerings, providing white-label solutions to other travel companies.

Key Offerings

• Multi-modal travel search and booking (trains, buses, flights, ferries)
• Mobile ticketing and e-tickets
• Real-time travel updates and information
• Price comparison across different transport modes
• Global travel planning through Rome2Rio (acquired in 2019)
• B2B solutions for other travel companies

Key Management

• Naren Shaam: Founder and CEO
• Jan Kemper: CFO

Investment Timeline

• 2013: $4 million seed funding from Hasso Plattner Ventures and Battery Ventures
• 2015: $45 million Series B led by Goldman Sachs
• 2018: $150 million Series D
• 2020: $100 million investment to navigate the COVID-19 crisis
• 2022: $80 million Series E

Berlin Brands Group

• Valuation: $1B
• Industry: Consumer & Retail
• Investors: Ardian, Bain Capital
• Unicorn Milestone Date: 09/01/2021

About

Berlin Brands Group (BBG) is a global e-commerce company and one of the pioneers in the direct-to-consumer business. Founded in 2005 by Peter Chaljawski, BBG creates, builds, buys, and scales brands globally. The company achieved unicorn status in September 2021 when Bain Capital acquired a stake, valuing BBG at over $1 billion. BBG operates multiple brands across various product categories, including home appliances, electronics, garden equipment, and sports gear.

Target Audience

BBG's target audience consists of consumers looking for high-quality, affordable products in categories such as kitchen appliances, home and living, sports equipment, and consumer electronics. The company reaches customers in 28 countries through various online channels.

Business Model

BBG's business model is based on a multi-brand, multi-channel approach:
Brand Creation and Acquisition:

• BBG develops its own brands and acquires successful e-commerce brands, particularly Amazon FBA (Fulfillment by Amazon) businesses.
• Product Development: The company identifies trends and customer requirements, quickly bringing products to market under its own brands.
• Multi-Channel Distribution: BBG sells products through over 100 channels in 28 countries, including its own D2C (Direct-to-Consumer) webshops, online marketplaces, and Amazon.
• Scalability: BBG uses its proprietary technology platform to rapidly scale brands across multiple markets and channels.
• Logistics and Fulfillment: The company operates its own logistics centres in various countries to ensure efficient distribution.
• Data-Driven Approach: BBG leverages data analytics to identify market trends and optimise product offerings and marketing strategies.

Key Offerings

• Home appliances (e.g., Klarstein brand)
• Garden equipment (e.g., Blumfeldt brand)
• Sports gear (e.g., Capital Sports brand)
• Audio equipment (e.g., Auna brand)
• Smart home devices
• Kitchen accessories
• Home decor items

Key Management

• Peter Chaljawski: Founder & Chief Executive Officer
• Dominik Brichta: Co-Founder & Chief Operating Officer (M&A)

Investment Timeline

• January 2021: Announced €250 million investment to acquire e-commerce brands.
• September 2021: Raised $700 million led by Bain Capital, achieving unicorn status with a valuation over $1 billion.

SellerX

• Valuation: $1B
• Industry: Consumer & Retail
• Investors: Cherry Ventures, Felix Capital, 83North
• Unicorn Milestone Date: 12/09/2021

About

SellerX is a Berlin-based startup founded in September 2020 by Malte Horeyseck and Philipp Triebel. As one of the emerging unicorn companies in Germany, it has quickly become one of Europe's leading aggregators of e-commerce businesses, particularly those operating on Amazon. SellerX's core business involves acquiring successful third-party Amazon sellers and scaling these businesses through enhanced operational infrastructure and strategic growth initiatives. The company's rapid growth and strategic acquisitions have earned it a unicorn valuation, with over $750 million raised in funding to date.

Target Audience

SellerX primarily targets:

• Amazon FBA (Fulfillment by Amazon) Sellers: Entrepreneurs who have built successful brands on Amazon and are looking for an exit strategy.
• E-commerce Entrepreneurs: Owners of profitable e-commerce businesses who wish to sell their companies.
• Investors: Venture capital firms and strategic investors interested in the e-commerce aggregation space.

Business Model

SellerX operates on an acquisition-based business model. The company identifies and purchases successful Amazon FBA businesses with strong growth potential. Post-acquisition, SellerX leverages its expertise in e-commerce, logistics, and marketing to scale these brands further. The company's model includes:

• Acquisition: Identifying profitable Amazon sellers and negotiating acquisitions.
• Integration: Integrating acquired brands into SellerX’s operational framework.
• Optimisation: Enhancing product listings, optimising supply chains, and improving marketing strategies.
• Expansion: Scaling the brands across new markets and platforms.

Key Offerings

• Business Acquisition: Buying successful Amazon FBA businesses.
• Brand Scaling: Leveraging SellerX’s infrastructure to grow acquired brands.
• Operational Support: Providing logistics, supply chain management, and marketing expertise.
• Market Expansion: Expanding brands into new geographical markets.

Key Management

• Malte Horeyseck: Co-founder
• Philipp Triebel: Co-founder

Investment Timeline

• August 2021: Raised €100 million in Series B funding.
• November 2021: Secured an additional $500 million in debt and equity financing.

InFarm

• Valuation: $1B
• Industry: Industrials
• Investors: Atomico, Hanaco Venture Capital, TriplePoint Capital
• Unicorn Milestone Date: 12/16/2021

About

Infarm is a Berlin-based vertical farming company founded in 2013 that has achieved unicorn status. It develops and operates a global network of high-tech indoor farms to grow fresh produce like herbs, leafy greens, and vegetables in urban environments. Infarm's modular, data-driven farming units can be installed in grocery stores, distribution centres, and other urban locations to provide locally-grown food with minimal environmental impact.

Target Audience

• Grocery retailers and supermarkets
• Restaurants and food service providers
• Urban consumers seeking fresh, locally-grown produce

Business Model

Infarm operates on a farming-as-a-service model. The company installs and operates its vertical farming units at customer locations like grocery stores. Infarm retains ownership of the farming technology and provides the seeds, nutrients, and cloud-based remote management. Customers pay for the fresh produce harvested from the units. This allows Infarm to scale quickly by partnering with major retailers while maintaining control of its proprietary technology. The company leverages data and AI to continuously optimise growing conditions and crop yields across its network of farms.

Key Offerings

• Modular vertical farming units for in-store and distribution centre installation
• Cloud-connected farming management platform
• Fresh herbs, leafy greens, vegetables, and other produce
• Farming-as-a-service operations and maintenance

Key Management

• Erez Galonska - Co-Founder and CEO
• Guy Galonska - Co-Founder and CTO
• Osnat Michaeli - Co-Founder and Chief Brand Officer

Investment Timeline

• 2018: $25 million Series A
• 2019: $100 million Series B
• 2020: $170 million Series C
• 2021: $200 million Series D (achieving unicorn status at over $1 billion valuation)

Grover

• Valuation: $1B
• Industry: Consumer & Retail
• Investors: Varengold Bank, Circularity Capital, Coparion
• Unicorn Milestone Date: 04/07/2022

About

Grover is a Berlin-based startup that has achieved unicorn status by pioneering a consumer-tech subscription platform. Founded in 2015 by Michael Cassau, Grover is one of the innovative unicorn companies in Germany, allowing individuals and businesses to rent technology products on a flexible monthly basis instead of purchasing them outright. This model supports a circular economy by extending the lifecycle of electronic devices and reducing e-waste. Grover offers access to a wide range of over 3,000 tech products, including smartphones, laptops, VR gear, wearables, and smart home appliances.

Target Audience

Grover targets:

• Private Consumers: Individuals who want access to the latest technology without the high upfront costs.
• Businesses: Companies looking for flexible and cost-effective ways to equip their teams with up-to-date technology.
• Sustainability-Conscious Users: Consumers and businesses interested in reducing their electronic waste footprint.

Business Model

Grover operates on a subscription-based rental model, offering a flexible alternative to purchasing technology. Here’s a detailed breakdown of their business model:

• Subscription Plans: Users can subscribe to tech products on a monthly basis, with the option to keep, switch, buy, or return the products depending on their needs and budget.
• Circular Economy: Products are returned, refurbished, and recirculated to multiple users, maximising the usage of each device and minimising e-waste. On average, a product is circulated to at least four different users over its lifecycle.
• Targeted Promotions: Grover uses targeted promotions and unique promo codes to attract and retain customers. They offer discounts on initial months of longer subscriptions and run referral programs to incentivise both new and existing users.
• B2B Services: Grover Business Premium provides companies with real-time control over rented equipment, helping them manage tech resources efficiently and reduce costs.

Key Offerings

• Smartphones
• Laptops
• Virtual Reality (VR) Gear
• Wearables
• Smart Home Appliances
• Cameras
• Tablets
• E-Mobility Products (e.g., e-scooters)
• Grover Business Premium: A platform for businesses to manage tech resources.

Key Management

• Michael Cassau: Founder and CEO

Investment Timeline

• 2020: Surpassed €50 million in Annual Recurring Revenue (ARR).
• 2021: Raised €847 million in funding.
• 2022: Secured over €303 million in a combination of equity and debt funding, reaching a valuation of over $1 billion.

Taxfix

• Valuation: $1B
• Industry: Financial Services
• Investors: Valar Ventures, Index Ventures, Creandum
• Unicorn Milestone Date: 4/28/2022

About

Taxfix is a Berlin-based fintech company that provides a mobile and web-based tax filing platform. Founded in 2016 by Mathis Büchi and Lino Teuteberg, Taxfix aims to simplify the complex tax filing process and make it accessible to everyone. The platform uses a smart, personalised question-and-answer interface to guide users through their tax returns, eliminating the need for complicated forms and jargon. Taxfix has grown rapidly and is now considered a unicorn, with a valuation exceeding $1 billion following a $220 million Series D funding round in 2022.

Target Audience

Taxfix primarily targets:

• Employees
• Trainees
• Students
• Expats
• Pensioners
• Self-employed individuals

Business Model

Taxfix operates on a freemium model with both free and paid services. Users can calculate their potential tax refund for free and only pay when they decide to submit their tax return through the platform. The pricing is as follows:

• €39.99 for individual tax filings
• €59.99 for married couples or registered partnerships filing jointly

Key Offerings

• Self-Service Tax Filing: Users can file their tax returns via a guided, intuitive question-and-answer process.
• Expert Service: Independent tax advisors prepare and submit tax returns for users.
• Automatic Data Retrieval: Income data can be automatically retrieved from the tax office and pre-filled.
• Instant Refund: Users can receive half of their tax refund within one business day of filing.
• Multi-Language Support: The app supports multiple languages, including English, making it accessible to expats.
• Cross-Platform Accessibility: Available on both mobile and web platforms.

Key Management

• Martin Ott: CEO
• Mathis Büchi: Co-Founder and Chairman
• Lino Teuteberg: Co-Founder and Chief Product Officer (CPO)

Investment Timeline

• 2022: Raised $220 million in Series D funding, achieving unicorn status with a valuation over $1 billion.

Staffbase

• Valuation: $1.10B
• Industry: Enterprise Tech
• Investors: Insight Partners, e.ventures, General Atlantic
• Unicorn Milestone Date: 3/15/2022

About

Staffbase is a high-growth startup based in Chemnitz, Germany, that specialising in employee communications management solutions. Founded in 2014, Staffbase is one of the prominent unicorn companies in Germany, achieving a valuation of $1.1 billion following a $115 million Series E funding round in 2022. The company provides a comprehensive platform designed to enhance internal communications within enterprises, ensuring seamless connectivity and engagement among employees, regardless of their location.

Target Audience

Staffbase primarily targets large enterprises and organisations that need robust internal communication solutions. Their platform is used by over 2,000 companies worldwide, including notable clients such as Adidas, Audi, Paulaner, Spark Power, UC Health, US LBM, and Vestas. The platform is designed to cater to both desk-bound and frontline employees, making it versatile for various industries.

Business Model

Staffbase operates on a Software-as-a-Service (SaaS) model, offering subscription-based access to its employee communications platform. The company generates revenue by providing tiered subscription plans that vary based on the number of users and the range of features included. Additionally, Staffbase offers customisation options and integration services, which can be tailored to meet the specific needs of individual enterprises. The platform's integration with tools like Microsoft 365, SharePoint, and Teams further enhances its utility and appeal to large organisations.

Key Offerings

• Employee App: A branded mobile app that allows employees to access corporate information, news, and updates.
• Intranet Solutions: Tools for creating and managing a company intranet, including content management systems (CMS) and collaboration features.
• Email Newsletters: Easy-to-create, on-brand newsletters that can be distributed to employees.
• Feedback and Surveys: Tools for collecting employee feedback and conducting surveys to gauge sentiment and gather insights.
• Campaign Management: Features for building and measuring multi-step communication campaigns.
• Analytics and Reporting: Dashboards and tools for tracking the impact of communications and measuring engagement.
• Integration with Microsoft 365: Seamless integration with Microsoft tools, enhancing the digital workplace experience.

Key Management

• Dr. Martin Böhringer: Co-founder and CEO
• Frank Wolf: Co-founder
• Lutz Gerlach: Co-founder

Investment Timeline

• March 2021: Raised $145 million in a Series D funding round led by General Atlantic.
• March 2021: Merged with Bananatag, a provider of email-based internal communications solutions.
• November 2021: Acquired Valo Solutions, a provider of intranet and workplace solutions for Microsoft 365.
• March 2022: Raised $115 million in a Series E funding round led by General Atlantic, achieving unicorn status with a valuation of $1.1 billion.

DeepL

• Valuation: $2B
• Industry: Enterprise Tech
• Investors: Benchmark, btov Partners, Bessemer Venture Partners
• Unicorn Milestone Date: 01/11/2023

About

DeepL is a German AI-based language translation company founded in 2017 and headquartered in Cologne. It achieved unicorn status in 2022 with a valuation of over $1 billion. DeepL is known for its high-quality machine translation service that uses advanced neural networks to provide accurate and natural-sounding translations across multiple languages.

Target Audience

DeepL caters to a wide range of users, including:

• Individual users seeking accurate translations
• Businesses and enterprises requiring translation services for global communications
• Freelance translators and translation agencies
• Language service providers
• Developers integrating translation capabilities into their applications

Business Model

DeepL operates on a freemium model with tiered subscription plans:

• Free tier: Offers limited translation services with character restrictions.
• DeepL Pro: A paid subscription service for individuals and small teams, providing unlimited translations, document translation, and additional features.
• DeepL API: Offers programmatic access to DeepL's translation technology for developers and businesses to integrate into their own products and services. This includes both free (with limitations) and paid API plans.
• Enterprise solutions: Tailored offerings for large organisations with specific needs and data security requirements.

Key Offerings

• DeepL Translator: Web-based translation tool
• DeepL Pro: Advanced translation service with additional features
• DeepL API: For integrating translation capabilities into third-party applications
• DeepL Write: AI writing assistant (available in English, German, Spanish, and French)
• Desktop and mobile applications
• Browser extensions
• Document translation (supporting various file formats)
• Glossary feature for custom terminology

Key Management

• Jaroslaw Kutylowski: CEO and CTO

Investment Timeline

• 2018: Received investment from Benchmark Capital, which took a 13.6% stake
• 2022: Raised over $100 million at a valuation exceeding $1 billion, achieving unicorn status

Otto Bock HealthCare

• Valuation: $3.52B
• Industry: Healthcare & Life Sciences
• Investors: EQT Partners
• Unicorn Milestone Date: 6/24/2017

About

Otto Bock HealthCare GmbH, headquartered in Duderstadt, Germany, is a global leader in medical technology, particularly in the field of orthopaedic technology. The company specialises in the development and production of prosthetics, orthotics, wheelchairs, and exoskeletons. Founded in 1919 by Otto Bock, the company has a long history of innovation and is dedicated to improving the quality of life for individuals with mobility impairments. With a presence in over 60 countries and more than 400 patient care centres, Ottobock is committed to human empowerment through advanced medical solutions.

Target Audience

Ottobock's primary target audience includes:

• Individuals with mobility impairments due to accidents, illnesses, or congenital conditions.
• Healthcare providers and medical professionals who specialise in rehabilitation and orthopaedic care.
• Insurance companies and healthcare institutions that provide coverage for prosthetic and orthotic devices.
• Industries requiring ergonomic solutions for physically demanding tasks, such as automotive and manufacturing sectors.

Business Model

Ottobock operates on a B2B and B2C business model, focusing on both direct sales and partnerships with medical supply stores and healthcare providers. The company emphasises long-term relationships with its users through continuous engagement and support. This includes automated communication for product updates, refitting reminders, and warranty notifications. Ottobock invests heavily in research and development, allocating around 7% of its turnover to innovate and improve its product offerings. The company's revenue streams include the sale of medical devices, patient care services, and ergonomic solutions for workplaces.

Key Offerings

• Prosthetics: Advanced prosthetic limbs, including microprocessor-controlled knee joints like the C-Leg and multi-articulating hands like the bebionic hand.
• Orthotics: Devices that support, stabilise, or immobilise limbs or the torso, such as the computer-controlled C-Brace leg orthosis.
• Wheelchairs: A range of manual and power wheelchairs, as well as rehabilitation products.
• Exoskeletons: Wearable devices that support physically demanding tasks, enhancing worker safety and efficiency.

Key Management

• Professor Hans Georg Näder: Chairman of the Board of Directors
• Martin Böhm: Chief Experience Officer
• Andreas Goppelt: Chief Technology Officer

1Komma5

• Valuation: $1.08B
• Industry: Industrials
• Investors: Porsche Ventures, G2VP, b2venture
• Unicorn Milestone Date: 6/23/2023

About

1Komma5°, founded in Hamburg, Germany, is a climate tech company that aims to accelerate the transition to CO2-neutral living by providing smart energy solutions. As one of the emerging unicorn companies in Germany, the company focuses on integrating renewable energy systems like solar panels, heat pumps, and electric vehicle (EV) chargers into a seamless, intelligent platform. Their name, 1Komma5°, reflects their commitment to limiting global temperature increases to 1.5°C, in line with the Paris Climate Agreement.

Target Audience

1Komma5° primarily targets:

• Homeowners looking to reduce their carbon footprint and energy costs.
• Businesses seeking sustainable energy solutions.
• Regional electrical installation companies that can benefit from their digitalisation and growth support.

Business Model

1Komma5° operates a multi-faceted business model that includes:

• Acquisition and Integration: They acquire leading electrical installation companies across Europe and Australia, focusing on renewable energy systems. These companies benefit from 1Komma5°'s software solutions, centralised services, and growth capital.
• One-Stop-Shop: They provide a comprehensive marketplace for purchasing and installing energy systems, including solar panels, heat pumps, and EV chargers.
• Virtual Power Plant: Through their Heartbeat energy management platform, they connect and optimize customers' energy systems, creating a virtual power plant that enhances the profitability and efficiency of these systems.
• Dynamic Tariffs: They offer innovative energy tariffs that leverage periods of low-cost electricity, further reducing energy costs for users.

Key Offerings

• Solar Power Systems: High-efficiency solar panels based on TOPCon technology.
• Energy Storage: Battery systems that store solar energy for use at night.
• Smart Energy Manager: Heartbeat platform that optimies energy consumption and integrates various energy systems.
• EV Chargers: Solutions for charging electric vehicles using solar energy.
• Heat Pumps: Climate-neutral heating solutions powered by solar energy.

Key Management

• Philipp Schröder: CEO and Co-founder
• Philipp Schröder: CEO and Co-founder

Investment Timeline

• 2023: Reached unicorn status with a valuation over $1 billion after raising €215 million.
• 2023-2024: Expanded into multiple European markets and Australia, doubling revenue to €460 million.

Helsing

• Valuation: $1.82B
• Industry: Enterprise Tech
• Investors: Daniel Ek's Investment Firm, General Catalyst, Saul Klein
• Unicorn Milestone Date: 9/14/2023

About

Helsing is a Munich-based startup specialising in artificial intelligence (AI) for defence applications. Founded in 2021, the company aims to protect democratic values and open societies by developing advanced AI technologies. Helsing focuses on enhancing military capabilities through software rather than hardware, providing AI-driven solutions to improve decision-making and operational efficiency in defence contexts.

Target Audience

Helsing primarily targets: 

• Democratic governments and their defence ministries
• Military organisations and armed forces
• Defence contractors and aerospace companies

Business Model

Helsing operates on a B2B (business-to-business) model, providing AI software solutions to defence organisations and governments. The company partners with defence ministries and contractors to integrate its AI technologies into existing and new military systems. Helsing's revenue streams include:

• Licensing fees for AI software
• Long-term contracts with defence ministries
• Collaborative projects with defence contractors

Key Offerings

• AI-driven tools for Eurofighter jet pilots
• AI technologies for the Future Combat Air System (FCAS)
• AI support for drones and UAVs
• Real-time information processing platforms
• Battlefield decision-making enhancement tools

Key Management

• Gundbert Scherf - Co-CEO and Co-Founder
• Torsten Reil - Co-CEO and Co-Founder

Investment Timeline

• 2021: Initial funding of around $2 million from European investors.
• November 2021: Series A funding round, raising over $100 million led by Daniel Ek's investment firm.
• 2023: Series B funding round, raising over $200 million.
• 2024: Series C funding round, raising €450 million ($487 million), valuing the company at approximately €4.95 billion ($5.4 billion).

Celonis

• Valuation: $13B
• Industry: Enterprise Tech
• Investors: Accel, 83North
• Unicorn Milestone Date: 6/26/2018

About

Celonis is a process mining and execution management software company based in Munich, Germany, and New York, USA. Founded in 2011 by Alexander Rinke, Bastian Nominacher, and Martin Klenk, Celonis is one of the leading unicorn companies in Germany, specialising in using process mining technology to help businesses optimise their operations. The company's platform creates a digital twin of an organisation's processes, providing deep insights into inefficiencies and areas for improvement. Recognised as a leader in the process mining market, Celonis has secured significant funding, making it Germany's most valuable unicorn.

Target Audience

Celonis primarily targets large enterprises across various industries, including manufacturing, healthcare, financial services, retail, and telecommunications. The platform is particularly useful for companies looking to improve operational efficiency, reduce costs, and enhance customer experience.

Business Model

Celonis operates on a Software-as-a-Service (SaaS) model, offering its process mining and execution management solutions through subscription-based pricing. The company provides different tiers of service, including on-premise, cloud, and hybrid options, to cater to the diverse needs of its clients. Revenue is generated through:

• Subscription Fees: Clients pay recurring fees for access to the Celonis platform.
• Professional Services: Additional revenue is generated from consulting, implementation, and training services.
• Partner Ecosystem: Celonis collaborates with over 250 consulting and technology firms, extending its reach and enhancing its service offerings.

Key Offerings

• Process Mining: Extracts and analyses process data from IT systems to model, analyse, and optimise business processes.
• Execution Management System (EMS): A low-code environment that includes connectors, task mining, process intelligence, and automation capabilities.
• Process Intelligence: Provides real-time, system-agnostic views of processes to uncover value opportunities.
• Task Mining: Captures user interactions to analyse employee experience and performance metrics.
• Predictive Analytics: Uses data to forecast future process performance and identify potential issues.
• Automated Root Cause Analysis: Identifies the underlying causes of process inefficiencies.

Key Management

• Alexander Rinke: Co-CEO and Co-Founder
• Bastian Nominacher: Co-CEO and Co-Founder
• Martin Klenk: CTO and Co-Founder

Investment Timeline

• June 2016: Series A - $27.5 million
• June 2018: Series B - $50 million
• November 2019: Series C - $290 million
• June 2021: Series D - $1 billion, valuing the company at $11 billion
• 2023: Series D extension - $400 million, increasing the valuation to $13 billion

Personio

• Valuation: $8.50B
• Industry: Enterprise Tech
• Investors: Global Founders Capital, Nortzone Ventures, Picus Capital
• Unicorn Milestone Date: 1/19/2021

About

Personio is a Munich-based startup that provides an all-in-one HR software solution designed to streamline and automate HR processes for small and medium-sized enterprises (SMEs). Founded in 2015, Personio has rapidly grown to become one of the most valuable HR tech companies in Europe, achieving unicorn status with a valuation of $1.7 billion in early 2021 and later reaching a valuation of $8.5 billion. The platform supports various HR functions, including recruitment, onboarding, payroll, performance management, and more, enabling businesses to manage their HR processes efficiently and compliantly.

Target Audience

Personio is a Munich-based startup that provides an all-in-one HR software solution designed to streamline and automate HR processes for small and medium-sized enterprises (SMEs). Founded in 2015, Personio has rapidly grown to become one of the most valuable HR tech companies in Europe, achieving unicorn status with a valuation of $1.7 billion in early 2021 and later reaching a valuation of $8.5 billion. The platform supports various HR functions, including recruitment, onboarding, payroll, performance management, and more, enabling businesses to manage their HR processes efficiently and compliantly.

Business Model

Personio operates on a subscription-based business model, offering its HR software on a recurring basis. The pricing is tiered based on the number of employees in an organisation, making it scalable for growing companies. The platform is customisable and integrates with over 200 third-party applications, ensuring it can meet the specific needs of different businesses. Personio also generates revenue through upselling additional features, professional services such as implementation support and training, and integration partnerships.

Key Offerings

• Recruitment and Onboarding: Automates job postings, applicant tracking, interview scheduling, and onboarding workflows.
• Core HR Management: Centralized employee database, payroll management, time tracking, and document management.
• Performance Management: Tools for setting goals, tracking performance, and conducting reviews.
• Employee Self-Service: Portals for employees to update personal information, request leave, and access payslips.
• Analytics and Reporting: Customizable reports and data analytics to provide insights into HR metrics and trends.
• Compliance and Data Security: Ensures data protection and compliance with regulations such as GDPR.

Key Management

• Hanno Renner: Co-Founder and CEO
• Ignaz Forstmeier: Co-Founder
• Roman Schumacher: Co-Founder
• Arseniy Vershinin: Co-Founder
• Ross Seychell: Chief People Officer

Investment Timeline

• January 2021: Raised $125 million in Series D funding, achieving a valuation of $1.7 billion.
• October 2021: Raised $200 million in Series E funding, reaching a valuation of $8.5 billion.

FlixMobility

• Valuation: $3B
• Industry: Industrials
• Investors: Holtzbrinck Ventures, Unternehmertum Venture Capital, General Atlantic
• Unicorn Milestone Date: 7/18/2019

About

FlixMobility, now known simply as Flix, is a German startup based in Munich that has revolutionised the transport sector by offering affordable, convenient, and sustainable travel options. As one of the notable unicorn companies in Germany, Flix was founded in 2011 by Daniel Krauss, Jochen Engert, and André Schwämmlein. Initially launching its intercity bus service, FlixBus, in 2013, the company has since expanded its services to include FlixTrain, FlixCar, and acquired other brands like Greyhound and Kâmil Koç. Flix operates in over 40 countries, providing extensive bus and train networks across Europe, North America, South America, and Asia.

Target Audience

Flix primarily targets budget-conscious travellers looking for affordable and convenient long-distance travel options. This includes:

• Students and young professionals
• Tourists and leisure travellers
• Environmentally conscious individuals seeking sustainable travel options
• Commuters and intercity travellers

Business Model

Flix operates on an asset-light business model, meaning it does not own the buses or trains it operates. Instead, it partners with local bus and train operators who handle the daily operations. Flix focuses on:

• Technology development
• Network planning
• Operations control
• Marketing and sales
• Customer service

Key Offerings

• FlixBus: Long-distance bus service with extensive routes across Europe, North America, and other regions.
• FlixTrain: Affordable train travel options in Germany and Sweden.
• FlixCar: Carpooling service enabling ride-sharing.
• Greyhound: Intercity bus service in North America.
• Kâmil Koç: Bus service in Turkey.

Key Management

• André Schwämmlein: Co-Founder and CEO
• Daniel Krauss: Co-Founder and CIO
• Jochen Engert: Co-Founder and former Co-CEO

Investment Timeline

• 2019: Raised €500 million at a €2 billion valuation.
• 2021: Raised $650 million at a $3 billion valuation.

commercetools

• Valuation: $1.90B
• Industry: Enterprise Tech
• Investors: High-Tech Grunderfonds, Bayern Kapital, Accel
• Unicorn Milestone Date: 9/13/2021

About

commercetools is a cloud-based, headless commerce platform headquartered in Munich, Germany. Founded in 2006 by Dirk Hoerig and Denis Werner, commercetools pioneered the concept of headless commerce, which decouples the front-end presentation layer from the back-end eCommerce functionality. This allows businesses to create highly customisable and scalable digital commerce experiences. The platform provides APIs to power e-commerce sales and other related functions for large enterprises, enabling them to innovate and adapt quickly to market changes.

Target Audience

commercetools primarily targets:

• Large enterprises and global brands.
• B2B and B2C companies across various industries such as retail, fashion, manufacturing, automotive, consumer packaged goods, and telecommunications.
• Companies looking to implement omnichannel strategies and digital transformation initiatives.

Business Model

commercetools operates on a subscription-based SaaS (Software as a Service) model. Customers pay a recurring fee for access to the platform, which includes various services and support levels. The pricing is typically based on the scale of the business, the number of API calls, and the specific features or modules required. This model provides a predictable revenue stream and allows commercetools to invest continuously in product development and customer support.

Key Offerings

• Composable Commerce: Cloud-native, headless commerce APIs for B2C and B2B businesses.
• commercetools Frontend: Frontend-as-a-service that integrates seamlessly with the backend.
• commercetools Checkout: Pre-integrated checkout solution to enable commerce at any digital touchpoint.
• Microservices Architecture: Flexible and scalable architecture to support complex commerce functionalities.
• Omnichannel Capabilities: Tools to deliver a unified shopping experience across various channels.
• Customisation and Flexibility: APIs and SDKs that allow businesses to tailor their commerce solutions to specific needs.

Key Management

• Andrew Burton: Chief Executive Officer
• Dirk Hoerig: Co-founder and Chief Innovation Officer
• Denis Werner: Co-founder and Managing Director

Investment Timeline

• 2018: $17 million investment to support international expansion.
• 2019: Raised $145 million from Insight Partners and spun out by REWE.
• 2021: Partnered with Volkswagen Group and raised $140 million in Series C round, valuing the company at $1.9 billion.
• 2021: Acquired Frontastic to enhance frontend capabilities.
• 2023: Achieved centaur status, surpassing $100 million in annual recurring revenue.

Scalable Capital

• Valuation: $1.40B
• Industry: Financial Services
• Investors: BlackRock, Tengelmann Ventures, Holtzbrinck Ventures
• Unicorn Milestone Date: 06/08/2021

About

Scalable Capital is a fintech startup based in Munich, Germany, founded in 2014 by Erik Podzuweit, Florian Prucker, Adam French, and Prof. Dr. Stefan Mittnik. It is recognised as Europe's largest digital wealth manager and became a unicorn after raising $180 million in a Series E funding round, which brought its valuation to $1.4 billion. The company offers digital asset management and neobroker services, aiming to provide professional, intelligent, and cost-effective solutions for wealth creation, trading, and investment.

Target Audience

Scalable Capital targets a broad audience that includes:

• Individual investors looking for low-cost, automated investment solutions.
• Millennials and younger generations interested in accessible and user-friendly investment platforms.
• Individuals seeking to invest in ETFs, stocks, cryptocurrencies, and other securities.
• People looking for customisable savings plans and long-term wealth management options.

Business Model

Scalable Capital operates on a freemium model with various tiers of service for its brokerage platform. The company offers:

• Scalable Wealth: A digital asset management service that provides automated investment strategies and customisable savings plans.
• Scalable Broker: A trading platform where users can independently trade stocks, ETFs, funds, cryptocurrencies, and derivatives. The platform features different pricing plans, including a free tier and premium plans with additional benefits like unlimited trading and reduced fees.

Key Offerings

• Scalable Wealth: Automated investment management with a variety of investment strategies and customisable savings plans.
• Scalable Broker: A trading platform offering:
  • Trading of stocks, ETFs, funds, cryptocurrencies, and derivatives.
  • Different pricing plans (FREE, PRIME, PRIME+).
  • Low minimum savings amounts starting from €1.
  • Intuitive mobile and web applications for easy trading.
  • Access to over 2,500 ETFs and more than 375,000 derivatives.

Key Management

• Florian Prucker: Founder and Co-CEO
• Maximilian Meyer: Chief Marketing Officer
• Andreas Schranzhofer: Chief Technology Officer

Investment Timeline

Agile Robots

• Valuation: $1B
• Industry: Industrials
• Investors: Hillhouse Capital Management, Sequoia Capital China, Linear Venture
• Unicorn Milestone Date: 09/09/2021

About

Agile Robots SE, based in Munich, Germany, is an international high-tech company specialising in bridging the gap between artificial intelligence (AI) and robotics. Founded in 2018 as a spin-off from the German Aerospace Center (DLR), Agile Robots focuses on developing advanced robotic systems that combine state-of-the-art full-body force sensitivity and world-leading vision intelligence. The company's mission is to provide intelligent, easy-to-use, and affordable robotic solutions that facilitate safe human-robot interaction, making them a leader in the intelligent robotics field with a valuation exceeding $1 billion.

Target Audience

Agile Robots caters to a broad range of industries requiring automation, including:

• Manufacturing (e.g., automotive, consumer electronics, jewellry)
• Medical (e.g., orthopaedic and neurosurgery)
• Agriculture
• Service sectors
• Logistics and intralogistics

Business Model

Agile Robots operate on a business model focused on the development, production, and sale of innovative robotic systems. The company invests heavily in research and development to create adaptable robots capable of performing a wide range of tasks across various environments. Revenue is primarily generated through:

• Sales of robotic systems and components.
• After-sales services (maintenance, repair, software updates, training).
• Licensing proprietary technologies to other businesses.

Key Offerings

• Yu 5 Industrial: A 6-axis industrial-grade collaborative robot (cobot) with a 5 kg payload, designed for quick setup and seamless integration into various industrial workflows.
• Diana 7: A force-controlled robot arm equipped with torque sensors in all seven axes, known for its dexterity and sensitivity, suitable for complex workflows.
• AgileCore: A powerful software platform that integrates hardware and software components, enabling robots to communicate with their environment and improve processes independently.
• Agile Hand: A multi-sensory robotic hand with five identical, modularly designed fingers, closely mimicking the human hand in size, shape, and functionality.

Key Management

• Dr. Zhaopeng Chen: Founder and CEO
• Peter Meusel: Co-founder

Investment Timeline

• 2020: Raised $130 million in Series C financing led by SoftBank Vision Fund 2, becoming the first German unicorn in the robotics industry.
• 2023: Acquired a majority share in BÄR Automation and idealworks, a BMW Group subsidiary, to enhance its industrial automation capabilities.
• Total Raised: $380 million across various funding rounds.

NuCom Group

• Valuation: $2.20B
• Industry: Consumer & Retail
• Investors: General Atlantic
• Unicorn Milestone Date: 2/22/2018

About

NuCom Group is a German-based unicorn company, headquartered in Unterfoehring, that operates as an omnichannel platform for consumer services and lifestyle brands. Founded in 2016, it is a majority-owned subsidiary of ProSiebenSat.1 Media SE, one of Europe’s leading media companies. NuCom Group consolidates various strategic investments from ProSiebenSat.1’s e-commerce business, focusing on integrating media expertise with operational and investment excellence to grow its portfolio companies.

Target Audience

NuCom Group targets consumers across Europe, particularly in Germany, who are interested in services and products related to home services, mobility, leisure, relationships, health, beauty, and style. It also serves small to medium-sized enterprises looking for investment and media-for-equity partnerships.

Business Model

NuCom Group operates an investment business model that focuses on building an omnichannel platform for consumer services and lifestyle brands. It leverages its parent company’s media capabilities to promote its portfolio companies, thereby driving growth through advertising and strategic acquisitions. NuCom Group provides financial backing and investment management services, facilitating larger equity investments and media-for-revenue partnerships. The company aims to expand its market reach by acquiring businesses in sectors such as online dating, price comparison, beauty, and event vouchers.

Key Offerings

• Verivox: Online price comparison website.
• Parship Elite Group: Online dating services.
• Jochen Schweizer mydays Group: Gift experiences and vouchers.
• Amorelie: Adult toy retailer.
• Flaconi: Online perfume and beauty products retailer.
• Aroundhome: Online broker for home-related products and services.
• billiger-mietwagen.de: Car rental price comparison.
• WindStar Medical: Health and wellness products.
• eharmony: Online dating platform (part of Parship Elite Group).

Key Management

• Sonja Burger: Director, Business Development
• Alexander Krausse: Investment Director
• Thomas Meyer: Director, Corporate Finance
• Sebastian Storfner: Investment Director.