June 7, 2024
Higher ambitions
Dear reader
Many devices that are labelled smart are not really smart. This may change with the use of artificial intelligence, but it requires more efficient chips for embedded computing. This is where Synthara comes in. Its microcontroller chips deliver a 100x boost to speed and energy efficiency and can address a broad set of AI-rich applications, thus lowering costs and time to market. Synthara has now secured USD 11 million to bring its chips to market.
Neural Concept, which uses AI to enable engineering teams to develop better products faster, has completed a financing round of USD 27 million. The company will use the funds to accelerate its global growth: it already employs 60 people and its customer list includes names such as Airbus, Bosch, General Electric, Subaru – and four out of the 10 Formula 1 racing teams.
Neural Concept is not alone in its sales growth and prestigious customers. Meteomatics has received an order worth millions from Norway, Bcomp is working with Kia, and Insolight has implemented a new project in France. Read more in our article on the success of cleantech companies.
However, this success requires not only innovation but also highly motivated teams with the ability to execute. And the news demonstrates that Swiss start-ups can now keep up with the best in terms of ambition and execution. In this respect, the time is right to formulate and work towards higher goals for the Swiss start-up scene as a whole. This is exactly what the Deep Tech Nation Switzerland Foundation intends to do. It wants to improve the framework conditions in order that Swiss start-ups are able to attract CHF 50 billion in venture capital over the next few years, and to position Switzerland internationally as the number 1 nation for deeptech-based innovations. Find out how this will be achieved in our article.
The foundation was launched this week at the Swiss Economic Forum. The SEF.Award to presented today goes to three companies that have also achieved impressive growth: Qumea, Flowit and Voliro. The SEF.Founders Conference took place yesterday as a parallel event and in addition to topics such as growth and AI, mental health was also discussed. This fits in with the higher ambitions, since only founders who are mentally healthy will achieve their goals.
In addition, two recently published books and a new masterclass series, which we presented this week, should provide important insights for motivated, ambitious founders.
Microcaps, Topadur, Synhelion, LogBook, and Kaspar& all received further investments this week. And Orio Therapeutics secured CHF 150,000 from Venture Kick.
Next week you can meet me and my colleague Ritah Nyakato at the Fintech 2024 conference and the subsequent presentation of the Swiss Fintech Award. The Swiss Startup Association’s Summer Night will take place on 12 June, Tenity Demo Day on 13 June and the Robotx Innovation Day at ETH Zurich on 14 June. I would also like to draw your attention to the >>venture>> Award Ceremony on 17 June.
The deadlines for the Boldbrain Startup Challenge and Innosuisse Scaleup Coaching are imminent, and the application deadline for Venture Leaders Cleantech is 23 June.
Have a good weekend.
Stefan Kyora
Editor in Chief, 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". 
