Start-ups with an overly aggressive growth path are currently in trouble, but Swiss start-ups continue to establish subsidiaries or take over other tech companies. This shows not only the ambitions of the founders, but also their ability to pursue a growth course that makes sense and is sustainable even in uncertain times.
Dear reader
Proptech Neho has recently founded two new entities: Germany-based Neho Gmbh, for expansion into the neighbouring country, and spin-off Strike, which assists property buyers with the financial aspects of a purchase. The company, founded in 2017, is not alone in this strategy. Geneva-based blockchain pioneer EverdreamSoft has established a spin-off named Wakweli that issues certificates of authenticity for NFTs and which has now closed its first financing round. And aerospace company Swissto12 has established an office on the US East Coast in order to be closer to local government and industry partners.
Boostbar, on the other hand, has made an acquisition with the takeover of British firm Aeguana, an automated retail tech company. The integration of Aeguana’s technology has enabled Boostbar to reach CHF 6.5 million in annual recurring revenue. OneDoc has also strengthened itself through acquisition: the leading provider of healthcare online appointment bookings and video consultation services in Switzerland has launched an emergency consultation service for patients, a solution enabled by the recent takeover of the Que dit le pédiatre platform.
These transactions illustrate the ambitions of Swiss founders and their ability to take important expansion steps in an uncertain environment. Growth is not simply sought for the sake of growth – which would not be financially feasible in today’s climate – but is rather a sensible expansion implemented step by step.
However, money and expertise are needed for this, and start-ups obtain these together. For example, ph., the start-up behind KA-EX, not only secured CHF 1 million for global expansion, but also support from experienced business insiders and an investors group that specialises in the distribution of health products in Asia. Cleantech start-up Qaptis brought commodities giant Cargill on board as one of the investors in its pre-seed round.
Don’t miss the deadlines for the Bluelion accelerator programme (5 March), the Swiss Fintech Awards (10 March) and Venture Leaders Biotech, which will travel to Boston (19 March). I would also like to mention two events in the coming week: the IFZ Fintech Conference on Wednesday, followed by SICTIC Investor Day on the subject of foodtech on Thursday.
Have a good weekend
Stefan Kyora
Editor in Chief, Startupticker.ch
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