September 13, 2024
Hype and traditional strengths
Dear reader
A journalist who interviewed me recently claimed that the current AI hype is bypassing the Swiss start-up scene. I disagreed with him, because Swiss AI start-ups have also benefited from the positive mood, including ETH spin-off Cerrion. Its technology leverages standard cameras to learn and monitor production processes, automatically detecting and acting on deviations in real time. Cerrion has now concluded a financing round of USD 5 million with well-known international and Swiss investors.
Flappie, the start-up with the AI-based cat flap, convinced all five investors in the studio in the first episode of the new season of Höhle der Löwen. However, it is not yet clear whether the lions will actually be involved in the current financing round. And a Swiss scale-up is also on course for growth: just a few weeks after acquiring its first US company, Squirro has invested in a second.
However, it is true that not all the start-up scene in Switzerland is focused solely on AI, as this week’s investments prove. We reported on eight financing rounds, with money going not only to ICT companies, but also to start-ups from the sustainability, biotech, medtech and digital health sectors.
Many of these start-ups have a connection to traditionally strong fields of activity in the Swiss economy, primarily medical technology. For example, the largest investment – a good CHF 41 million – went to CorFlow, which is developing a new technology for the diagnosis and treatment of a common complication following a heart attack. We also reported on Lausanne-based surgical robot manufacturer Distalmotion’s latest financing round and the investment in NeoPrediX.
What is noticeable is that medical technology is combined with IT expertise. Other news this week shows how often this happens in Switzerland: CREAL, for example, concluded a major deal with Zeiss with the aim of simplifying eye tests, and many of the 10 selected Venture Leaders Medtech also operate in the field of digital health. And at the Novartis Campus in Basel, Switzerland Innovation Park Basel Area’s site, which focuses on digital health and healthtech, has been expanded due to high demand.
This gives an impression of how the Swiss start-up scene deals with trends: it does not follow every hype, but is very active when it comes to innovation in important fields.
Several awards deadlines are coming up: applications are open for the Tech for Impact Awards until 17 September and for the ZKB Pionierpreis Technopark until 18 September. The registration deadline for the Boost My Startup Challenge runs until 30 September. Start-ups can also register for a booth or the pitching competition at Startup Nights, which will take place in Winterthur at the end of October.
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". 
