Munich, characterised by a strong public support system, is the perfect scene for startups to blossom. Just last year, the city’s startup ecosystem considerably increased, placing 2nd in Germany, 6th in Western Europe, and 34th worldwide, according to the Global Ecosystem Index. In 2021, total investment in Munich startups hit a new record high of €4.2B.
Munich’s thriving startup community is supported by guidance and resources from other startups, including coaching, financing, legal entity incorporation advice, and digital incubation. Success stories act as breeding grounds for talent, skills, and capital that provide strong fundamentals for the ecosystem’s future.
Munich also benefits from the presence of strong universities and research institutes such as the Technical University Munich, Fraunhofer, and the DLR. This tech-driven ecosystem is marked by a culture of action and innovation, where individuals with strong ideas and determination drive the city’s progress.
Not only are these startups making waves in the city, but they are also recruiting talents to help realise their big plans.
So now, we bring you the list of those Munich-based startups to watch out for in 2024.
FERNRIDE
Founders: Hendrik Kramer, Jean-Michael Georg, Maximilian Fisser
Founded Year: 2019
Funding: $61M (€56.4M)
Hiring: Yes, check out the job opportunities here.
Fernride’s mission is to address the trucking industry’s two core challenges: the current shortage of 400,000 truck drivers in the EU and the 39 per cent GHG emissions attributed to diesel-powered trucks.
As an end-to-end solution provider for autonomous, electric trucking, Fernride aims to accelerate the transformation of the logistics industry. Their approach integrates humans, which they refer to as teleoperators, into the system.
As pioneers in automated and sustainable logistics, Fernride’s clientele includes Volkswagen Group Logistics, DB Schenker, HHLA, and BSH. After securing €46.71M in Series A funding in September last year, the company is currently looking into global expansion.
Blickfeld
Founders: Florian Petit, Mathias Muller, Rolf Wojtech
Founded Year: 2017
Funding: $64.2M (€59.36M)
Hiring: Yes, check out vacancies here.
Established in 2017 and headquartered in Munich, Blickfeld continues to innovate in sensor technology.
The company aims to be a leading producer of LiDAR sensors, a remote sensing method that uses light in the form of a pulsed laser to measure ranges and detection software, catering to the needs of autonomous mobility and IoT applications.
Their sensors, which excel in providing precise 3D distance information, are built upon patented silicon MEMS mirrors and off-the-shelf components.
The company has recently secured an additional €7.5M in an initial growth round of funding in December 2023.
ProximaFusion
Founders: Francesco Sciortino, Lucio Milanese, Jorrit Lion, Martin Kubie, Jonathan Schilling
Founded Year: 2023
Funding: €7.56M
Hiring: Yes, browse vacancies here.
The newly-established ProximaFusion pioneers the development of new power plants utilising a plasma device called stellarators, optimised for creating magnetic cages for high-energy particles.
To innovate in stellarator power plants, they combine the computational design and superconductivity of the W7-X stellarator at the Max Planck Institute for Plasma Physics.
In ProximaFusion’s vision for the future, QI stellarators will be the power plants of the renewable future — offering clean, abundant, and safe energy.
bitsCrunch
Founders: Gopi Kannappan, Saravanan Jaichandaran, Vijay Pravin Maharajan
Founded Year: 2021
Funding: $10.6M (€9.8M)
Hiring: Yes, check out vacancies here.
bitsCrunch is a blockchain analytics and forensics company founded in Munich in the middle of the global pandemic. The firm aims to secure the NFT and the broader blockchain space.
The team developed a fair artificial intelligence (AI) price estimation tool for NFTs. As one of the upcoming startups in Germany, bitcsCrucnh envisions itself as the guardian of the NFT space and is backed by Tier 1 and Tier 2 investors.
Lanes & Panes
Founder: Veit Blumschein
Founded Year: 2017
Funding: $45M (€41.6M)
Hiring: Yes, check out job opportunities here.
The company Lanes & Planes establishes itself as a travel management solution that offers Software-as-a-Service that digitally maps all aspects of business travel.
Lanes & Planes has raised a total of $45M (€41.6M) in funding over 3 rounds. Its latest funding, worth €33M, was raised on Oct 16, 2023, from a Series B round.
With significant funding rounds aimed at fueling growth, Lanes & Planes is expected to enhance B2B solutions and expand market share within the corporate travel sector.
StudySmarter
Founders: Christian Felgenhauer, Maurice Khudhir, Simon Hohentanner, Till Sohlemann
Founded Year: 2017
Funding: $64.2M (€59.3M)
Hiring: Yes, explore vacancies here.
StudySmarter is Munich’s leading edtech company, developing an intelligent and content-agnostic platform for lifelong learning.
First published in 2018, the platform has been and is used by millions of learners worldwide. Recognised as the top EdTech startup in Germany and Europe, StudySmarter is recommended by university representatives and education experts.
Ivy
Founders: Ferdinand Dabitz, Joshua Becker
Founded Year: 2021
Funding: $29.4M (€27.18M)
Hiring: Yes, check out vacancies here.
The Munich-based Ivy disrupts the fintech landscape with its global API for instant bank payments, streamlining transactions for merchants and consumers alike.
Ivy’s platform allows merchants to accept bank payments, bypassing card transactions and speeding up the payment process.
With €27.18M in funding, Ivy’s API is operational in multiple regions, connecting millions of bank accounts globally. The company managed to raise an investment worth €18M in their latest Series A round led by Valar Ventures.
Tacto
Founders: André Petry, Johannes Groll, Nico Bentenrieder
Founded Year: 2020
Funding: €56.3M
Hiring: Yes, browse opportunities here.
Connecting with suppliers can be an intimidating task, especially for new SMEs. Driven by this factor, Tacto was created to streamline procurement processes, guaranteeing adherence to compliance, sustainability, and effective material sourcing for mid-sized industrial enterprises.
One of Tacto’s missions is to allow its customers to shift from outdated methodologies like email and spreadsheets.
By automating manual procedures, Tacto’s platform secures regulatory compliance with supply chain regulations and identifies opportunities for cost savings through analysis of price fluctuations in cost drivers and comparing it with actual procurement expenditure.
WorkerHero
Founders: Emanuel Wernitz, Michael Konig, Richard Fischer
Founded Year: 2021
Funding: €2.5M
Hiring: Yes, check out vacancies here.
WorkerHero, established in 2021 and headquartered in Munich, operates as a recruiting tech firm. The company specialises in assisting businesses in sourcing and recruiting skilled workers and blue-collar staff. The company delivers job vacancies to candidates across 150 channels, both online and offline.
WorkerHero is a fully automated software solution that optimises the recruiting process by minimising recruiters’ time investment and maximising overall efficiency.
Floy
Founders: Benedikt Schneider, Leander Märkisch
Founded Year: 2021
Funding: €8.8M
Hiring: Yes, explore job opportunities here.
Floy creates AI-driven software for radiologists which assists them in the early detection and treatment of complex diseases. The company encourages widespread adoption of its AI solutions to revolutionise proactive medicine on a global scale.
In collaboration with radiology offices, Floy extends its AI services to patients as a “second opinion.” This incentivises radiologists to adopt Floy’s AI and promotes its widespread utilisation.
Since its creation in 2021, Floy has significantly broadened its reach to over 150 radiology locations to date.
