July 21, 2023
Foreign interest funds start-ups
Dear reader
Two Zurich-based early-stage start-ups have attracted German participation in their financing rounds. Rapidata, which offers a new method of large-scale data processing with human intelligence, received CHF 1.5 million. Board Owl has not disclosed the amount invested, but the funds will enable the company to grow its digital board matchmaking and education platform. French VC Ankaa Ventures led Auxivo’s round, which will allow the start-up to expand its support exoskeletons for industrial workers.
Gaia Technologies’ pre-seed investment round attracted several Swiss investors, including SICTIC business angels, Venture Kick and the STI Foundation. The ETH spin-off, which transforms agricultural side streams into bio-compounds, will use the funds to start pilot production and enter the cosmetic ingredients market.
Unconventional financing approaches, such as corporate funds and debt, have become popular in the Swiss start-up scene. An undisclosed corporate investor has invested in Classtime in order to support its accelerated growth in Germany and Switzerland. Since 2019, the start-up has provided teachers with a digital platform for designing, conducting, correcting and assessing learning objective assessments and exams. Public schools, cantons and other education authorities, as well as hundreds of B2C customers in 90 countries, rely on the platform. Thanks to debt capital from UBS, Betterview has embarked on its goal of expanding its laser eye treatments across Switzerland. Debt financing is not new to TP24: the fintech start-up has obtained CHF 400 million from two established financial institutions.
Funding alone is not enough – depending on the industry, other factors such as government approvals play a key role in driving growth. Lumendo has obtained clearing for its endodontic root canal filler from the US Food & Drug Administration, giving it a gateway into the US market. The majority stake acquisition of Bern-based start-up ReaTech by German Bürkert Fluid Control Systems aims to fuel the start-up’s growth and expand its market reach. This move comes after two years of partnership.
Microsoft Switzerland’s Startup of the Year Award went to Lausanne-based Virtuosis in recognition of its privacy-focused Al tool that identifies early signs of stress, anxiety and communication issues through analysis of voice calls. The new cohort for Venture Leaders Medtech was announced; 10 start-ups have been selected to explore international opportunities in Boston. Fintech start-ups can submit their application to participate in the Venture Leaders Fintech roadshow: registration closes on 11 September.
Talking of deadlines, the following programmes are open to applications until the end of July: Future of Health Grant, i4Challenge, Falling Walls Lab Switzerland. Swissnex China invites start-ups to apply for a spot in the swisstech Pavilion at the Tech G Shanghai International Consumer Electronics Show in October.
Have a good weekend.
Ritah Ayebare Nyakato
Duty Editor, startupticker.ch
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The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
