Everyone is talking about climate change, but the founders of Energy Vault do something about it. Now the Ticinese have collected more than USD 100 million in venture capital.
Dear reader
It seemed to be a normal week with a handful of small and medium-sized financings: fintech-startup I2 Invest completed a seed round, Spectroplast’s silicone 3D printer was financed with CHF 1.8 million and Baze, which makes personalised nutritional supplements, raised USD 6 million.
But then on Thursday morning came a piece of news that made the week special. The Ticino start-up Energy Vault announced that it had generated USD 110 million in a single financing round – lead investor is Japan’s Softbank.
Energy Vault’s technology enables power to be stored more efficiently, more cheaply and in a more environmentally friendly manner than any pumped storage power plant. Thus, the team led by CEO Robert Piconi provides an important building block in the development of a power supply that does not require fossil fuels.
Successful Swiss cleantech start-ups do exist, and Climeworks and Flisom are also worth mentioning, but these are – despite the sometimes hyperventilated climate debate – still isolated cases.
This is in contrast to fintech and games start-ups. These create lively scenes in which interested parties can meet and exchange on a regular basis; for example, at the Swiss Fintech Fair on 17 September in Zurich, or at an international level at Gamescom 2019, which will be held in Cologne next week.
Incidentally, a Federal Councillor will be present at both events: Guy Parmelin in Zurich and Alain Berset in Cologne. Their presence proves that the start-up ecosystem has lost its exotic status and is now noticed by politicians.
In the same direction is an initiative by two Zurich National Council candidates Judith Bellaiche (GLP) and Andri Silberschmidt (Junge FDP): they launched ‘Team Startup’ this morning. In the event of their election, the two want to feed the concerns of start-ups, from below so to speak, into the political process.
Looking ahead, the public vote for the Swisscom Startup Challenge ends next Thursday, and a day later the registration deadline for the Swiss Technology Award expires.
Finally, we have two tickets to give away for the presentation of the TOP 100 Swiss Startup Award 2019. At the event, the winners of the award meet investors, representatives of large companies and supporters. First come, first served.
Have a relaxing weekend
Jost Dubacher
Editor startupticker.ch
0Comments
Please login or sign up to comment.
Commenting guidelines