Our Highlights:

Startups in GSA also shedding headcount, including unicorns that recently raised money. All signs point towards them extending their runway, expecting a recession. Some startups face a challenging fundraising environment, but others like WeFox want to almost double their valuations. Also, Personio and Trade Republic raise additional funds.

In our “stay ahead of the curve” section, we have a lot of articles an entrepreneur should read to prepare for the potential downturn.

German economic minister Habeck is unveiling his new startup strategy, considering even a minimum investment in VC Funds for German insurers and pension funds.

The fast delivery startups seem to hit a wall and even formerly mighty Gorillas now explores strategic options.

Let’s talk startups: https://medium.com/@startuprad_io/this-month-in-german-swiss-and-austrian-gsa-startups-june-2022-2651b2b64fe

Top News

Tech Layoffs

This is just a selection of the current bloodshed going on in listed and non-listed tech around the world. Again we are focusing on the GSA market, but this is currently a big thing, especially for the workers fired.

• Global startup job cut reaches 17.000 people. Recent job cutters include unicorn Berlin Brands Group with 10% of their employees 
• German neobroker unicorn Trade Republic raises 250 m € at 5 bn € valuation, despite challenging market environment (for trading and fundraising). This is up from a 4.4 bn € valuation at their last fundraising in Mai 2021, despite that they are joining a long list of startups to cut expectations and jobs 
• Crypto trading platform Bitpanda cuts headcount by a third 
• A few weeks ago Berlin-based crypto startup Nuri announced to ax 20% of its headcount. Now they have to freeze withdrawals from some of their accounts since their partner Celsius Networks did so 
• Rocket Internet has already cut headcount: 30% of their workforce at their Global Founders Capital (formerly 94) and 50% at their Flash Ventures (formerly 40) 

Fast Delivery Startups in Trouble

Berlin’s Gorillas lays off 300 and exits four markets. They are not the only ones, Getir (also active in Germany) is also shedding headcount. They are also reportedly in search for other options, which may include a merger or acquisition as well. Read more here: Gorillas Burns 80 m US$ a Month. Now Explores Options, Weighed Deals With Delivery Rivals.

Instant delivery firm Jokr is leaving the US. Its founder — Ralf Wenzel — is also known as the founder of Foodpanda and helped Softbank with the reorganization of WeWork

Related:

• Gorillas Startup Dream of Food Delivery and Office Raves Falters 
• Ultra-Fast Delivery Startups May Have Moved Too Fast 

Challenging Fundraising Environment

But Some persevere for example

• Personio nabs $200M at a $8.5B valuation as its HR for small businesses hits the big time — Making it one of Europe’s most valuable startups 
• Insurtech Startup Wefox Seeks Funding at Over $5 Billion Value almost doubling their previous valuation

And others start to think about all options

• Solarisbank is Exploring All Options From Fundraising to a Sale to a PE Fund 

Plusdental

Plusdental is a Berlin-based startup working on mouthguards. In March 2021 said they were looking at a unicorn valuation. Now they exit for a mere 131 m € to a swiss based company

Wingcopter

Wingcopter receives 42 m US$ new funding, plans expansion. They are building a unique drone, that combines vertical lift-off capabilities with wing-assisted flight for long distances (much like a V 22 Osprey), already working in the Pacific on remote atolls and i