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Instead of an event section, this podcast episode features a unicorn special. We introduce you to the newest addition to Munich's unicorn stable. Personio has new financing round raised over 103.5 million euros. This increased the company valuation well over 1 billion dollars and made Personio a unicorn. HR software startup Since January 2021, it has officially been one of Munich's three or four unicorns. In the podcast, we explain why there are different numbers. We also discuss the impact unicorns have on the ecosystem in which they have grown. You can hear this short excursion starting at minute 6:00.
Foodtech startups from Munich
Next, we've taken a look at Munich-based food tech companies that are enriching the food industry (starting at minute 9:38). This sector offers a lot of potential for startups. The food industry is one of the five largest industrial sectors in Germany, generating revenues of over 180 billion euros annually. The sector encompasses the production and distribution of food and animal feed, as well as the beverage industry.
Our Munich Startup Insights Dashboard features over 70 startups listed under the keyword Food for MunichThese include a wide variety of categories: B2B or B2C, technologies for the agricultural sector, logistics for the food sector, online marketplaces for pet food, etc. However, this time in the podcast we're focusing on five innovative regional food startups. For the food startups we're featuring this time, topics such as sustainability, animal welfare, and climate protection are an important part of their corporate philosophy.
Startups to drink
We start with Pläin (from minute 12:40). Founded in 2019, the Freising-based startup produces and sells a local, plant-based milk substitute. The three founders have developed a patented recipe that not only tastes good but also contains all the important nutritional values that animal milk also offers.
Yfood is also a must-see among the foodtech startups from Munich (from minute 15:02). Founders Ben Kremer and Noel Bollmann want to replace a meal with their ready-to-go drinks. Founded in 2017, the startup is now one of the fastest-growing food startups in Europe. Following a successful deal on 'The Lion's Den' in 2018, Frank Thelen joined as an investor. The startup now serves customers in more than 26 European countries and is available at 10,000 sales outlets. According to Dealroom, the startup has a company valuation of €60 to €90 million. The number of employees has risen to over 100.
The Startup Wisefood (from minute 18:14) became known for its edible drinking straw, dubbed Superhalm. Launched in 2017 as a student project, the three founders completed a financing round in 2019. The team now consists of twelve employees, and the product range has been expanded to include edible tableware. The products are now available in over 5,000 stores in Germany, and the startup exports to 25 countries worldwide. Thanks to the EU-wide ban on single-use plastic tableware coming into force in July 2021, there is still great growth potential here.
Startups to eat
Munich-based foodtech Greenforce, on the other hand, aims to conquer the plant-based 'meat' market with its vegan burgers, minced meat, and meatballs (from minute 21:20). In the medium term, additional products are planned, including a fish version. Founded in 2020 by Thomas Isermann, a team of food experts developed the various products in powder form from pea protein. This makes delivery more sustainable and the food lasts longer. The company currently employs ten people. Sales are primarily online—but Feinkost Käfer is also on board as a partner. In the medium term, however, Greenforce aims to be represented nationwide in retail stores.
As the fifth Foodtech we present you Happy Ocean Foods (from minute 24:46). The two founders have developed plant-based shrimp from soy and mung beans. Also founded in 2019, Robin Drummond and Julian Hallet have already completed several incubators and accelerators in addition to receiving EXIST funding. We'll likely be able to find the plant-based shrimp in stores and dine in various restaurants starting mid-2021.
Tips for food startups
And last but not least, here are a few general tips for anyone who wants to start a food startup (starting at minute 28:18). The EIT Food Accelerator Network (EIT FAN) aims to make the food sector more customer-centric, ecological, and thus more competitive at the EU level. There are various programs, awards, and more to this end. Anyone in Munich who wants to launch a crowdfunding campaign in the food sector, among other things, can find support at 'Start in Food'. There are also various VCs that focus on foodtech. With the Foodangels Five business angels also support food startups as co-investors. Special events also serve as inspiration and networking opportunities, such as the Food Innovation Camp and the Agtech Food Summit.
Build38 and G+D Ventures
Build38 is a spin-out of Giesecke+Devrient specializing in mobile security, founded in 2018 (starting at minute 29:36). It has now raised €3 million from the group's investment arm, G+D Ventures, and other investors. We introduce you to the security startup. We also talk about the Corporate venture capital arm of the Giesecke+Devrient Group, which is also based in Munich.
