This Month in German, Swiss, and Austrian (GSA) Startups - October 2022 Wrap-Up

Our Highlights:

Another one of our former guests gets a Snoop Dog investment. Quick delivery startup Gorillas seems to sell itself to competitor Getir, according to Bloomberg, despite an earlier announcement they are looking for more investments. Gadget rental service Grover adds 270 m € in venture debt, getting it close to 2 billion €. Our former guest Nuri (formerly Bitwala) had to file for insolvency, now investors jump ship and the company is wound down this year. Volocopter is sued by early crowdfunding backers, Home24 has a takeover offer from a brick-and-mortar furniture retailer and BioNTech takes on cancer. Also, Munich-based travel tech Holidu raises 100 m € in a combination of 75 m equity and 25 m debt funding.

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Top News

Europe’s Largest Cannabis Funding To Date

Europe’s largest cannabis funding to date: Snoop Dogg-backed German cannabis startup gets $37.6M Series B led by British American Tobacco

learn more about the Entrepreneur of the Year 2021 (German Startup Awards) founder Finn Age Hänsel in our interview

Gorillas May Soon Be Bought By Getir

Delivery Startup Getir in Advanced Talks to Buy Gorillas (Bloomberg). They write:

• “Proposed deal for Gorillas would be a mix of cash and equity


• The combination would give Getir, which is backed by Mubadala Investment Co. and Sequoia Capital, scale in key European markets including the UK and Germany.


• Gorillas had previously held talks with a number of competitors about the prospects for a merger or sale of its business, people familiar with the matter said previously.


• Chief Executive Officer Kagan Sumer said earlier this year that he planned to look for new financing to recalibrate the company to work toward profitability.”



Grover Takes Home 270 m €

As consumer spending tightens, yet appetites for tech remain the same, Berlin-based Grover sees an uptick in rental interest and is now bringing its debt funding to close to €2 billion to meet demand. Grover takes on more debt funding, this time €270 million from London-based M&G

Our Former Guest Nuri (Bitwala)

Will be wound down. Despite seeing interest from investors, they could not get one to sign up. So the company will be shut down until the end of the year. The last day one can use a Nuri account is in mid-December. Neobank Vivid makes...