YPOG Deal Update: Current Transactions
Berlin/Cologne/Hamburg, November 04, 2022 – In recent weeks, YPOG has been involved in a large number of transactions in the startup sector. Among others, investors and companies such as 42Cap, Breega, Wunder Mobility, Otterspace, SWAN, Project A Ventures, Kipu Quantum, Viola Ventures, REWE, Zintinus as well as Valuecase and MicroHarvest relied on the expertise of the boutique law firm and its transactions team.
YPOG advises Wunder Mobility on €12 million financing round
Benjamin Ullrich and Adrian Haase comprehensively advised mobility startup Wunder Mobility on its latest financing round. The funding has a total volume of €12 million and was backed by venture capital investors KCK and Blumberg Capital, among others. With the closing, the company becomes one of the best-funded startups operating in the shared mobility space. In total, founder Gunnar Froh already raised more than €60 million in the past few years. Their customers include companies, cities and municipalities. In order to serve the growing market demands, the fresh money will be invested in software development and customer service improvements.
Wunder Mobility is the leading software and hardware provider for vehicle sharing. Their highly customizable and deeply integrated software solution is complemented by a sharing-ready vehicle program built in partnership with leading manufacturers. Operators of bike-, scooter-, and car-sharing systems in more than 200 cities on five continents are relying on Wunder technology to complete millions of trips per month. Wunder Mobility was founded in 2014 by Gunnar Froh and is headquartered in Hamburg, Germany.
Team:
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Dr. Adrian Haase (Co-Lead, Transactions), Associated Partner
YPOG advises Otterspace on $3.7 million financing round
A YPOG team led by Frederik Gärtner advised web3 startup Otterspace on its latest financing round. The pre-seed round has a total volume of $3,7 million and was co-led by the venture capital funds Cherry Crypto and Inflection, with further participation of Bessemer Venture Partners, Coinbase Ventures, btov Partners, Paua Ventures, Tiny.vc and various Web3 operators and DAO builders. Using earned NFTs instead of purchased NFTs, Otterspace incentivizes positive conduct and reward members of a decentralized autonomous organization (DAOs). The NFT badges not only empower users who might not otherwise be able to afford such privileges, but they also attract new DAO members who might only have a tiny quantity of tokens. Moreover, the EIP-4973 interface on which these coins are built prevents them from being traded or sold.
Otterspace is a developer of a DAO onboarding software designed to make the experience of joining and contributing familiar for inhabitants of Web2. The company's platform utilizes a modular and composable toolset, but is also community-derived, enabling users the experience of joining and contributing to a DAO clear, straightforward, and familiar to inhabitants of Web2.
Team:
Dr. Frederik Gärtner (Lead, Transactions), Partner
Stefan Richter (Tax), Partner
Carola Rathke (Regulatory/Crypto), Partnern
Anika Patz (Regulatory/Crypto), Senior Associate
Ferdinand Cadmus (Transactions), Senior Associate
Alexander Sekunde (Transactions), Associate
Andreas Lange (Tax), Associate
YPOG advises SWAN on seed financing round
YPOG advised beauty tech startup SWAN on its latest seed financing round. In total, the Hamburg-based company raised €1.45 million from various investors, including Tarek Müller, OMR and Tobias Eismann, the founder of Beauty Love. In a first step, the startup released the SWAN app in the middle of September in 2022. The free app offers a beauty platform covering skincare, makeup and haircare, as well as dermatological and aesthetic topics. Other categories are expected to follow soon. The fresh money will be used for the further development of the company's own software, the production of hardware, the further development of the team, as well as for marketing activities, social media and in-house content creation.
Team:
Dr. Adrian Haase (Co-Lead, Transactions), Associated Partner
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Alexandra Steifensand (Transactions), Associate
Christiane Schnitzler (Transactions), Associate
YPOG advises Project A on PE co-investment of Konges Sløjd
YPOG provided comprehensive advice to tech investor Project A Ventures on a private equity co-investment in premium international lifestyle brand Konges Sløjd. Project A invested alongside 3i Group plc, which acquired a majority stake in Konges Sløjd. The Copenhagen-based company designs, sources and distributes its high-end product range through a curated network of direct-to-consumer retailers and e-commerce stores in more than 50 countries. The investment is part of Project A's expanded private equity co-investment practice previously announced during the tech investor's recent fundraising earlier this year.
Project A is one of the leading tech investors in Europe with offices in Berlin and London. In addition to $1bn assets under management, Project A supports its portfolio companies with a platform team of over 140 functional experts in key areas such as software and product development, business intelligence, brand, design, marketing, sales and recruiting. The venture capital firm was founded in 2012 and has backed more than 100 startups. The portfolio includes companies such as Trade Republic, WorldRemit, sennder, KRY, Spryker, Catawiki, Unmind and Voi.
Team:
Dr. Martin Schaper (Lead, Transactions), Partner
Dr. Malte Bergmann (Tax), Partner
Rosa Wizisla (Transactions), Associate
Benjamin Müller (Transactions), Associate
YPOG advises 42Cap on seed financing round of Autonomous
YPOG advised venture capital investor 42CAP on the recent seed financing round of B2B startup Go Autonomous. The funding has a total volume of €3.1 million and was led by 42CAP and the Danish Growth Fund Vækstfonden. The Danish startup's mission is to simplify transactional communication. The AI-powered solution identifies customers' intentions once an email arrives in their inbox, extracts and structures the required information and feeds it into an ERP system in real-time. The platform is already used by companies such as Grundfos, a leading global pump manufacturer, and Hans Buch, a Danish parts distributor. The fresh money will be used to boost product development and market expansion.
42CAP is a European investor team, participating in early-stage companies with global ambitions focused on B2B technology. The founders and partners are successful entrepreneurs who built up big companies. The founding investors Alex Meyer and Thomas Wilke established eCircle as one of Europe's largest SaaS compa-nies and sold it to Teradata (NYSE:TDC) in 2012. Moritz Zimmermann turned the software company Hybris big before it was integrated into SAP. Following the credo 'Peers among Entrepreneurs', 42CAP supports industry- and product-oriented founders, highly data-driven business models and sustainable company development.
Team:
Dr. Frederik Gärtner (Lead, Transactions), Partner
Alexander Sekunde (Transactions), Associate
YPOG advises REWE Group on investment in Sykell
YPOG advised REWE on its latest investment in Sykell. The sustainable packaging startup has successfully closed its first financing round and gained a desired partner in REWE Group as an investor. The company uses innovative packaging solutions that enable easy returns in a modern, low-threshold and barrier-free system open to all to-go food providers. Sykell intends to launch its deposit system next year.
BThe cooperatively organized REWE Group is one of the leading trade and tourism groups in Germany and Europe. In 2021, the company generated a total external turnover of around €76,5 billion. Founded in 1927, REWE Group operates with 380.000 employees in 21 European countries.
Team:
Dr. Johannes Janning (Co-Lead, Transactions), Associated Partner
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Dr. Benedikt Flöter (IP/IT), Associated Partner
Jonathan Görg (Transactions), Associate
The REWE Group in-house team was led by Dr. Ulrich Fleischer (Legal Counsel - M&A and Financing).
YPOG advised Kipu Quantum on €3 million financing round
YPOG advised quantum computing startup Kipu Quantum on its recent financing round with a total volume of €3 million. The funding was co-led by Quantonation, the world’s leading sector venture capital firm focused on quantum technology, as well as US-based deep-tech investor Entrada Ventures and early-stage investor First Momentum Ventures. Kipu Quantum will use the fresh money to develop quantum computing products that serve the needs of customers in various industries, including chemicals, pharmaceuticals, optimization, finance and logistics.
Kipu Quantum is a German quantum computing startup based in Karlsruhe and Berlin. They design quantum computing platforms that meet customer needs by solving real-world problems for a variety of business domains. Kipu Quantum operates at the nexus of customer use cases, hardware platforms, and the software layer. The implementations of their quantum algorithms are based on unique technological paradigms which en-compass hardware-software co-designs. These solutions enable their clients to derive value from quantum computing years ahead of other approaches, i.e. not just in the distant future.
Team:
Dr. Frederik Gärtner (Lead, Transactions), Partner
Alexander Sekunde (Transactions), Associate
Ferdinand Cadmus (Transactions), Senior Associate
YPOG advises Viola on €16 million financing round of Candis
YPOG advised Viola on the latest financing round of Berlin-based startup Candis. The funding has a total volume of €16 million and was led by Viola Fintech with further participation of the existing investors Lightspeed and Viola Ventures. With its platform, the Candis enables small and medium-sized companies to automatize financial processes. These include invoice receipt, data entry, invoice approval and data export. Since its launch, the company has worked with over 4000 customers and more than 200 partners. With the fresh capital, Candis will now expand its product portfolio by payment options and will introduce new features for the invoice management. The company also plans to expand its team significantly.
Viola is Israel’s leading and largest technology-investment group with over $4.5B AUM. Viola Ventures is the early-stage arm of the group, focused on seed and A financing rounds. The fund has backed over 100 technology companies such as Pagaya, ironSource, Redis, Lightricks and more. Viola FinTech is a cross-stage venture fund that invests in global FinTech companies alongside leading venture investors. The fund brings together financial institutions and innovative startups to accelerate the modernization and digitization of financial institutions and support the growth of FinTech companies.
Team:
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Dr. Adrian Haase (Co-Lead, Transactions), Associated Partner
Alexandra Steifensand (Transactions), Associate
YPOG advised Zintinus on two financing rounds
YPOG advised Zintinus on two financing rounds. The venture capital firm recently participated in the Series A financing round of nutrition startup Lykon. The funding has a total volume of €10 million and was led by Zintinus with further participation from venture debt provider Bridge To Growth, as well as existing investors MA Ventures, the venture capital fund of Swiss retailer Migros Aare (managed by Redstone) and media group Ippen Digital. The closing also marked the launch of a new brand identity. Zintinus also participated in the latest funding round of Berlin-based plant milk company Blue Farm. The funding has a total volume of €3 million and was led by Zintinus as well as the family office of Flensburg-based brewery HGDF and existing investors Übermorgen Ventures. The capital will primarily be used to expand the online operations and user experience.
ZINTINUS is a growth fund investing in innovative FoodTech startups. The investment focus is on alternative proteins, functional foods, clean nutrition and food waste reduction. With its special fusion of knowledge, experience and networks, ZINTINUS drives positive change in food ecosystems and creates the basis for improved value creation for the benefit of consumers, the environment and investors.
Team:
Dr. Adrian Haase (Co-Lead, Transactions), Associated Partner
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Tobias Lovett (Co-Lead, Transactions), Senior Associate
Ann-Kristin Lochmann (Tax), Associated Partner
Jonas Huth (Transactions), Associate
Alexandra Steifensand (Transactions), Associate
YPOG advises Breega on €15 million financing round of Cure
YPOG advised French venture capital firm Breega on the Series A financing round of pharmacy delivery service Cure. The funding has a total volume of €15 million and was led by Breega with further participation of Abstract Ventures, J12 Ventures and Pilabs. Founded in 2021, the startup launched with an app enabling customers to browse and order healthcare products. With the fresh money, Cures' founders want to drive the expansion in Germany and France. Furthermore, the functionality of the online health platform will be improved. By the end of this year, the startup plans to integrate an online consultation service into its platform, followed by other applications such as telediagnostics and telemonitoring in 2023.
Breega is a founder-friendly VC, with €500 million under management, investing in promising European high-tech startups from Seed/Series A stage. Breega provides much more than just capital. Built by founders for founders, Breega supports its portfolio companies through each phase of their development, providing them with free-of-charge operational expertise (HR, biz dev, marketing & legal) and international development opportunities. Breega invests in trailblazing companies such as Exotec (robotics), Curve (fintech), Moneybox (wealth management app) or Didomi (adtech/regtech).
Team:
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Dr. Johannes Janning (Co-Lead, Transactions), Associated Partner
Tobias Lovett (Transactions), Senior Associate
Dr. Benedikt Flöter (IP/IT), Associated Partner
Anna Eickmeier (IP/IT), Senior Associate
YPOG advises Valuecase on €3,5 million financing round
YPOG advised Hamburg-based startup Valuecase on their first financing round. The funding has a total volume of €3.5 million and was backed by the venture capital firms Picus Capital, XAnge and 10x Founders, as well as angel investors such as former Zalando CEO Rubin Ritter and Mcmakler CEO Felix Jahn. Valuecase provides customers such as HR startups Workmotion and Welcome to the Jungle a software solution for presenting and selling their products in a personalized way on a focused landing page for individual customers. The funding will further support Valuecase's go-to-market strategy as well as product development. The company is planning to invest in enhanced automation and analytics capabilities.
Valuecase rethinks how B2B sales organizations engage with buyers, helping them to increase their conversion rates and build long-lasting relationships. The company has the vision to bring B2B buyer engagement in one single space. The Valuecase software is a SaaS solution enabling companies to easily create customized microsites and share them with their clients in the form of interactive webpages, creating a unique, end-to-end buying experience.
Team:
Dr. Adrian Haase (Co-Lead, Transactions), Associated Partner
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Alexandra Steifensand (Transactions), Associate
YPOG advises MicroHarvest on €8.5 million Series A financing round
YPOG comprehensively advised Hamburg-based biotech startup MicroHarvest on its Series A financing round. The funding has a total volume of €8.5 million and was led by Astanor Ventures and Happiness Capital, with further participation from Faber and existing investor FoodLabs. The German startup addresses the growing demand for alternative protein food value chain. The goal is to provide better, healthier and tastier protein produced sustainably with the power of microorganisms. With the single-cell protein production system, the company responds to the urgent need for sustainable alternatives to meet the world's growing demand for protein. The platform will use the fresh funding to grow its R&D team, construct a pilot plant in Lisbon and accelerate towards commercial-scale production.
MicroHarvest is an early-stage startup in Hamburg, Germany. The company is on a mission to produce better, healthier and tastier protein, produced sustainably using the power of microorganisms. Its proprietary and scalable technology allows producing nutritional biomass from fast-growing bacteria, with potential applications across the whole protein value chain. With that, MicroHarvest contributes to a world where everyone has access to nutritious food through a fair and resilient food system
Team:
Dr. Adrian Haase (Co-Lead, Transactions), Associated Partner
Dr. Malte Bergmann (Tax), Partner
Dr, Ansgar Frank (Transactions), Associated Partner
Dr. Benedikt Flöter (IP/IT), Associated Partner
Jonas Huth (Transactions), Associate
Alexandra Steifensand (Transactions), Associate