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In episode 18 of our podcast, we focus on Munich-based e-commerce platforms and online retail with a B2C focus. In our second podcast, we already talked about e-commerce with a B2B focus. Back then, we took a closer look at startups that Solving challenges in online retail could.
Munich e-commerce startups in comparison
How is Munich positioned in general in online retail with a focus on consumers? Our Munich Startup Insights reveal: 130 startups and scaleups with the E-commerce and marketplace business models (i.e. platforms) focus on end consumers. In addition to mobility and travel platforms, some 'home & living' and food startups are also at the forefront in terms of company valuation and financing.
In this podcast, we introduce you to five e-commerce startups with diverse business ideas. One common thread is that all of them discovered and established their niche relatively early on. Two of the online shops we discuss have already gone public. And besides the industry, there's another common thread among the startups featured in today's podcast episode, which we'll reveal to you at the end.
First we look at Plantura (Minute 3:00). The greentech and e-commerce startup brings together gardening, sustainability, and smart data analytics. The Munich-based company, funded by Acton Capital and Cavalry Ventures, sells products for gardens and balconies in its online shop. The sales model of the startup, founded in 2017, is exciting. The 36-person team, led by founders Melissa Raupach, Felix Lill, and Dominik Cadmus, has built a high-reach digital gardening magazine. This allows them to further develop their product range in close proximity to their target audience.
How e-commerce startups around Essen are conquering their niche
From minute 5:20 it is about 3 Bears as a food company. Founded in late 2015, the startup quickly entered the market with its product—at the time still considered "innovative" in Germany. 3 Bears' sustainably produced porridge quickly gained notoriety thanks to the Lion's Den. Frank Thelen and Judith Williams joined as investors. The startup, founded by Caroline and Tim Nichols, already generated sales of €10 million in 2018.
Also dedicated to food and enjoyment is Mioments (from minute 8:33). The platform, founded in 2010 by Sabine Anna Engel and financed by business angels, offers vouchers for enjoyable moments with friends. This is a challenging business model during the coronavirus pandemic, but the 20-person team had already converted their online shop to virtual experiences with cooking and tasting boxes in April 2020.
How these two Munich startups are doing on the stock market
Next, we talk about Westwing and Windeln.de (starting at minute 10:25). Both e-commerce startups have gone public. We look at how the IPO and the follow-up business went, and we also talk about what happened to the founding teams of both startups.
The startup founded in 2010 Windeln.de had a good starting point. The founding team of Konstantin Urban, Alexander Brand, and Dagmar Mahnel chose baby and children's products, a market that wasn't very active at the time of the company's launch. Now, many companies are active there. At the same time, the original growth driver—China as a sales market—is turning out to be less than expected. In this podcast, we discuss how the company has developed before and after its IPO.
After a short excursion we look towards #Stayonboard on the company history of the startup Westwing (from minute 15:25). The online retailer specializing in interior design was founded in 2011 by Delia Lachance (formerly Fischer), Stefan Smalla, Georg Biersack, Matthias Siepe, and Tim Schäfer. The team is still on board, and the startup's revenues are also growing steadily.
What connects the featured startups…
And: We also mentioned at the beginning that, besides e-commerce, there's another unifying element among the startups presented today. You probably noticed it while listening, because it's something rather rare in this country: Each of the startups has a female co-founder on the team. That's truly something special, because so far, less than 20 percent of German startups have been (co-)founded by women.
If you are curious to know more, you should definitely take a look at our 3. Podcast on the topic of Female Founders Here we presented, among other things, successful Munich-based mobility, AI, and software startups.
In the second part of the podcast, we talk about the medtech startup Deepc (minute 23:30), which also has a woman on its founding team. Founded by Julia Moosbauer, Franz Pfister, Paul Meyer, and Michael Meyerhoff, the startup has so far flown under the radar, but left stealth mode at the beginning of March. In the past, Deepc has already received numerous awards. Furthermore, at the end of February, the Medtech Seed financing round in the mid-seven-digit million range.
