The German Ecosystem: A Hotbed of Innovation for Arab Startups
The German ecosystem is an indispensable hub of innovation. What if the key to success for our Arab startups lay in the art of "intelligent copycatting"? This is the thesis defended by Arab Founders. Let's take a closer look at 15 German gems with high potential for inspiration.
According to Imed Aboul Foutouh, founder of Arab Founders, one of the best strategies for creating prosperous startups in our Arab markets is to replicate models that have proven themselves in neighboring markets, particularly in Europe. After in-depth study, these models can be adapted and "Arabized" to perfectly match the expectations of the Arab consumer. The German market, recognized as one of the most creative and dynamic for startup growth in all sectors, tops the list.
The selection of these gems was based on strict criteria: companies in the early growth phase, providing innovative solutions to complex problems, having raised funds from investors or external funds, actively using these funds, and demonstrating strong potential to become leaders in their market.
Here are 15 German startups to watch closely:
1. Pitch
Founded in 2018, Pitch is a collaborative presentation app that allows teams to work on a shared space. It offers task management, commenting, and video calling features, combining the simplicity of consumer software with the power of professional tools. The company raised $85 million in Series B funding in May 2021.
2. Inkitt
This online writing platform, founded in 2014, allows authors to share excerpts of their work and receive feedback from readers. Its unique feature is an algorithm that analyzes reading data to provide valuable feedback to writers and identify potential bestsellers. With 7 million readers and 300,000 writers, Inkitt raised $59 million in Series B funding in October 2021.
3. Comtravo
Specializing in business travel management, Comtravo (2015) uses AI and machine learning to enable users to send travel requests via natural messaging. Its technology translates these requests into bookings. The startup collected $10.1 million in Series B funding in January 2020.
4. CoachHub
Founded in 2018, this digital coaching platform is used by companies to train their employees on topics such as time management and leadership. It relies on a global network of over 2,500 coaches and offers sessions in 60 languages. CoachHub raised $110 million in Series B funding in September 2021, bringing its total funding to $133 million.
5. Deposit Solutions
This fintech is revolutionizing the European savings deposit market through the open banking model. It enables banks to collect retail deposits across Europe without physical infrastructure and offers customers access to a wide range of products without having to open new accounts.
6. SellerX
Launched in 2020, SellerX builds a diversified portfolio of Amazon sellers. It focuses on acquiring and developing native brands on the marketplace, adopting a personalized approach with sellers. It raised $112 million in Series B funding in August 2021.
7. Urban Sports Club
Founded in 2012, it offers users flexible subscription formulas giving access to a vast network of gyms and over 50 types of activities (team sports, swimming, yoga, climbing, etc.).
8. Flink
This express grocery delivery startup (Q-commerce), founded in 2020, promises delivery in under 10 minutes. It focuses on sustainability with recyclable packaging and electric bikes. Flink secured $240 million in Series A funding in June 2021, followed by an undisclosed round in September.
9. Neufund
A blockchain-based fundraising and investment platform (founded in 2016), Neufund connects investors and entrepreneurs. It offers blockchain-related services such as digital wallets and post-investment tracking. Its technology allows for the legal tokenization of real-world assets. Neufund raised $4.5 million in Series A funding in December 2020.
10. Penta
This digital neo-bank for businesses helps SMEs and startups save time and money through automated invoicing and fully online banking services.
11. Wandelbots
A robotics startup that developed TracePen, the world's first portable "no-code" device allowing non-programmers to teach industrial tasks to robots. Its method is 70 times faster than traditional programming. Wandelbots has raised $38 million to date.
12. Kontist
The first German neo-bank dedicated to freelancers and independent workers. It integrates accounting and tax consulting services, such as pre-filled VAT returns. Kontist raised $28 million in Series B funding in March 2021.
13. Amboss
A comprehensive and technologically advanced medical knowledge platform, founded in 2012 by doctors and engineers. It reduces the research time of doctors by 98% and also helps medical students. Amboss received $33 million in Series B funding in July 2019.
14. Caroobi
A network of car mechanics workshops across Germany that facilitates car maintenance through a smooth appointment booking process, distinguished by an optimized customer experience. The company has raised $20 million to date.
15. Getsafe
An insurtech that uses artificial intelligence and automation to replace manual processes, allowing customers to subscribe or modify their coverage in real-time with just a few clicks. Targeting Generation Y, it has 250,000 customers and raised $93 million in Series B funding in October 2021.
