News

Alumni Startup Passage AI acquired by ServiceNow

Congratulations to our alumni startup Passage AI from Batch #9 for being acquired by ServiceNow!

ServiceNow has signed an agreement to acquire Passage AI, a conversational artificial intelligence platform that lets clients build chatbots in multiple languages. The platform gives ServiceNow an automated way to respond to customer inquiries.

ServiceNow expects to complete the acquisition by the end of the first quarter of 2020.

Kick-off Pitch Event

On Wednesday our eight new startups pitched for the first time in front of our TechFounders mentors. Audience was clearly impressed by the interesting and groundbreaking developments and inventions that the teams presented, from solutions that enable hydraulic systems to be replaced by electromechanical ones to AI-powered software for improved recruitment processes . After the presentations, the startups had the chance to network with the guests and find mentors to help them on their startup journey.

From this basis, we will work together to polish these pitches into diamonds for Demo Day in May, where the startups will present their companies in front of 250+ investors, industry representatives and the press. It has been an exciting week and it’s only the beginning: in the upcoming 20 weeks the teams will get into different trainings and coachings to build their business model, improve their marketing strategies, learn more about HR and IP topics, and connect with successful CEOs and CTOs.”

 

Welcome Batch #11!

Hundreds and hundreds of applications, thorough discussions and intriguing pitch events – We are more than excited to present the selected startups that we have the pleasure to coach and work together with the next 20 weeks.

Before meeting with our corporate partners and participating in all the workshops and coaching sessions, we wanted to welcome the new batch into our program by going for a hike together in beautiful Spitzingsee. After enjoying traditional Bavarian dinner and some beverages in a mountain hut, we raced our way down the snowy hill with sleds. See some impressions of the day below!

You can read more about our new batch on our “Current Startup” -page, and for more insight about our ongoing program and the startups journey with us, we suggest you to follow us in Instagram, Facebook, Twitter and LinkedIn. We’ll be posting individual introductions about our new startups throughout the upcoming weeks.

We can’t wait to see what success stories these startups will turn into!

You can the read press release about our new batch (in German) here.

The English version of the press release you can read here: PressRelease_Batch#11_EN

 

Alumni Startup Volabo receives a seven-digit financing

Congratulations to our alumni startup Volabo from Batch #8 for receiving a seven-digit Series A financing!

After being self-financed since its foundation in 2016, the company from Ottobrunn today announced its first round of financing. The family-owned Hechinger Group is investing in the Munich-based startup and the funding will be used in product development for entering the boat market. The company is developing a new drive technology, the Intelligent Stator Cage Drive (ISCAD), which is cheaper to produce than comparable electric drives, eco-friendlier and still keeps its efficiency.

We wish them all the best for the future!

Batch #10 Demo Day Brings Startup Community Together in Munich

Yesterday, the final and concluding event of the TechFounders Batch #10, the Demo Day, took place at the event location “Hoch5” in Munich. The event brought together more than 200 people from the startup ecosystem, including venture capitalists, business angels, corporates, startups, startup coaches and mentors as well as innovation and digitalization experts from all kinds of industries.

First, the ten startups of Batch #10 presented their innovative products and solutions. (find out more about Batch #10 here )

After the startup pitches, Prof. Dr. Dr. Ann-Kristin Achleitner (Professor at TUM School of Management), Dr. Gregor Matthies (Venture Partner Earlybird / Senior Advisor Bain & Company), Andreas Kunze (CEO & Co-Founder of Konux) and Kristina Bell (Group Buying Director, ALDI SÜD) discussed how to better advance innovation through collaboration.

Many thanks to our great startups – it was a huge blast to have you in our tenth batch – and to our panelists, who made time in their busy schedule to participate in the event!

Alumni Startup Ultimate.ai raises $6.5M

We are very proud of our alumni startup Ultimate.ai from Batch #9 which just raised $6.5M in its recent funding round.

The round is led by the company’s existing investors, HV Holtzbrinck Ventures and Maki.vc. In addition, the EU granted research funding as part of Horizon 2020, a programme committed to backing Europe’s leading deep technology businesses.

ultimate.ai’s European founding story has given it a technical advantage in the market, attracting EU interest and prompting existing investors to double down. Founded in Finland, the business faced a defining challenge: there was no AI technology capable of handling the complex Finnish language. Leveraging recent breakthroughs in deep learning, the founders built the leading fully-language agnostic AI platform for customer service. Today ultimate.ai provides its multilingual customer service automation to multinational enterprises including Telia, ADAC and Finnair.

Congrats to the whole team!

W&V Green Marketing Day

On October 31, 2019, our COO Miki Yokoyama shared our experience and thoughts at the W&V Green Marketing Day in Munich on supporting startups and ALDI SÜD and ALDI Nord to reduce packaging waste and scale sustainable solutions with the TechFounders Accelerator Program! Click below to see a few impressions of the conference and our panel.

TechFounders Alumni Startup Remberg receives €2M funding

Remberg Gründerteam

We are very proud to announce the seed round of our alumni startup Remberg who have secured a €2M funding round, led by Fly Ventures and Speedinvest. It is a great milestone for the entire Remberg team, but only the beginning of a long journey to digitize services in the industrial world with their asset-relationship management system. Congrats, Remberg team!

 

TechFounders @ Bits&Pretzels

In the past years, Bits & Pretzels has made its name as one of the most important startup conferences in Germany – so we couldn’t miss it! It’s been three inspiring and fun conference days, with lots of interesting talks, discussions, innovative new ideas, and of course, beer & pretzels! Here are some impressions of the past three days. Thanks to three amazing hosts, Felix Haas (TechFounders mentor since day 1!), Bernd Storm van Gravesande and Andreas Bruckschlögl!

McKinsey & Company joins TechFounders as a knowledge and network partner

We are very excited to announce that McKinsey & Company, one of the world’s leading management consulting firms, joins the TechFounders Accelerator Program as a knowledge and network partner. McKinsey will support TechFounders startups in joint workshops to solve critical business challenges. Through the partnership, founders will be able to leverage the consultants’ unique network and industry expertise, while McKinsey gets firsthand insights from the most innovative tech-startups.

Who we are:

TechFounders is a 20-week international accelerator program for B2B tech-startups based in Munich. It consists of two parts: A pilot project with a corporate partner and high-quality coaching from experienced experts to help the startups reach the next level. Leading corporates engage with TechFounders to find and collaborate with the most promising startups in their respective industry.

Who is McKinsey:

McKinsey & Company is the leading management consultancy for top management worldwide. McKinsey supports companies and institutions from the private, public and social sectors in their most important changes, for example in the areas of strategy, risk management, technology and innovation, sales, marketing or process optimization.

Fuel Ignition is McKinsey’s network for founders through which selected startups get access to industry knowledge, coaching, networking, and moderated strategy discussions. This offering now exists in 40+ cities around the globe, covering some of the world’s major startup-hubs, such as Munich.