Thriving start-up ecosystem

Dear reader

In September 2021, cleantech start-up Energy Vault, founded in 2018, announced its intention to go public through a merger with Novus Capital Corporation II, a US publicly traded special purpose acquisition company (SPAC). The Lugano-based company, which offers sustainable, grid-scale energy storage solutions, started trading on the New York Stock Exchange (NYSE) on Monday and raised USD 235 million in gross proceeds at a valuation of USD 415 million.

Geneva-based Be-bô Health, which provides innovative wellness products, has also gone public on Euronext Access Paris in order to develop its reputation and brand. This marks the company’s first step before the transfer of its shares to Euronext Growth Paris, with the aim of raising funds for marketing and international expansion.

As demonstrated by the several financing rounds closed this week, venture capital funding remains an attractive vehicle. More than CHF 155 million went into Swiss start-ups, with MindMaze raising the most significant amount in an investment round of USD 105 million: the start-up is a global pioneer in the multibillion-dollar digital neurotherapeutics market. Spinal surgery solutions provider Neo Medical and biotech start-up Memo Therapeutics have banked double digit-million amounts of USD 20.6 million and CHF 23 million, respectively.  

The Swiss start-up ecosystem is flourishing, with more supporters actively driving the scene to enable start-ups to reach their milestones. We talk to Lukas Reinhardt, head of UBS’ Growth Advisory, about the bank’s start-up investment activities – the interview is available in German and French. The pioneering start-up competition >>venture>>, established in 1997, has bid farewell to its founder and president Thomas Knecht. He shares his insights on the competition, collaborations between start-ups and corporations, and the progress of the Swiss start-up scene.

In addition to money, supporters also play a vital role in pushing start-ups toward internationalisation. An example is the Venture Leaders Technology programme, which enables 10 tech start-ups to explore the US market. Innosuisse is also sponsoring the participation of six start-ups in the Lean Launchpad Program 2022 in Israel.

Talking of support, the deadline for start-ups interested in participating in Energy Startup Day expires on 25 February. Registration is open for MassChallenge Switzerland until 28 February, Tech4Eva until 1 March and >>venture>> until 3 March.  

Have a good weekend.

Ritah Ayebare Nyakato
Duty Editor, Startupticker.ch