🦄 The DART Weekly #1 ~ Dawn of a crazy stable

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October 24, 2020

Of Unicorns and Cowboys

🦄 The Rounds

🛰 Sci-fi: Iceye raised €74M. Its focus? Small satellites transmitting SAR images to track the movement of ice in the artic and support in other disaster areas.

🚍 Microfactory: Arrival raised additional $118M from BlackRock. Its vision is to drive down the price of electric buses and trucks thanks to its microfactories.

🇳🇴 Trivia: Kahoot IPOing? Not quite so. After receiving $215M from SoftBank, the education startup can now fuel growth through partnerships and acquisitions.

🥩 Rare: BioTech Foods & Organotechnie leads Meat4All, a consortium that received a grant from the EU in the context of Horizon2020. It develops the tech for lab-grown meat.

🌅 Righteous: Tomorrow completed its €3M crowd-investing campaign in 5h! It is a certfied B corporation offering banking services while funding sustainable projects.

🧏‍♀️ WHAT?: Stealth Mode: OFF. Series B: ON. Whisper raised $35M to further develop its AI-powered hearing aid. Quiet Capital, Sequoia and First Round are in.

🎓 Gig: 17M job seekers, 500k employers, 1000 universities and $80M in fresh funding. Handshake is building a diversity-focused LinkedIn for students.

🇩🇪 Tinker bell: Munich-based Peter Park closed a new financing round. The startup offers a SaaS solution easing the management of parking lots.

🚀 E.D.I.T.H.: D-Orbit secured €15M in funding from EIB. Active since 2011, the Como-based company develops and operates satellites, covering the entire life cycle of a space mission.

🤠 The Funds

📚 Lehrer: Brighteye, the largest edtech fund in EU, secured additional $54M. It will focus its effort in the DACH region.

⚡️ Blitzscale: Balderton established itself by investing in Series A startups. Time to go beyond! Its new fund will blitzscale EU ventures and bring them to IPO.

🤩 Boom: Samaipata launches new €100M funds to bolster EU entrepreneurs. The stars are aligning for the Old Continent, talents are there and money starts to flow!

💰 Skin: TUM's VC branch UVC raised new €150M fund. It is backed by famous family offices, as well as TUM Entrepreneurial Finance professor Ann-Kristin Achleitner.

🧑‍🎤 ... and The Quirky Ones

📱 Never Settle: After having contributed to the creation of the iPhone-killer, Carl Pei left OnePlus to start a new venture.

🇮🇹 Foodie: Digitalizzazione is taking off in Italy, and startups with it. COVID created opportunities for new services, the prospects are promising, but how much will the economy depend on subsidies?

💀 RIP: Raising $1.75B does not guarantee success; the video startup Quibi knows it. After a 6 months run and only thousands of paying subscribers, it is now discontinuing operations.

Entrepreneurship Chronicles


Daniel Ek needs no introduction. The Co-Founder and CEO of Spotify belongs to a very rare breed of European tech entrepreneurs who managed to start a venture and to take it public via direct listing in the New York Stock Exchange (cnbc). Recently he has committed €1B in support of European moonshot projects, having the overall goal of fostering the creation of super companies (sifted).
In a recent interview with Sriram Krishnan, Daniel opened the pandora box and touched topics ranging from his leadership at Spotify, the balance between private and professional life, as well as his view on society and technology (The Observer Effect).

THE TAKEAWAY
Multi-billion dollars companies are not born overnight. Daniel had the ability to grow a company capable of disrupting an entire industry despite starting from a small country. Over the years he surrounded himself of talented and impactful advisors, ultimately expanding the company across sea and going beyond simple music streaming.

Ventures 101

🧑‍🎓 How to fund your startup

You have a great idea. Now it's time to bring it to reality, it is time to raise capital.
Let's consider some possibilities!

Bootstrapping

To start you must have either savings, or a personal loan or a monthly income (best if all of them). It requires the management of costs through the cashflow generated by the business. You keep the control of your business, but you do not have access to the outside influence, in the form of knowledge, network and support, of external investors (sifted).
Successful startups that were bootstrapped are GoPro (Inc.com) and Finnish Framery (sifted).

Raising Money from Friends and Family

It is a very effective way to secure some money to get the business off the ground. Can you rely on a business savvy relative? All the better!
The initial trust is already won, but it's important to be upfront about risks, show the business plan and document the agreed investment rules (Entrepreneur). You definitely do not want to strain the relationship with a dear friend or family member!

Crowdfunding

Definitely an approach worth considering if you are developing a consumer product or service. Crowdfunding comes in different forms: equity, donation, debt and rewards-based (sifted).
How does it work? A business uploads a compelling pitch to a platform in order to sell the potential of a company or its product.
Where to setup a campaign? Different platforms serve different geographies, have different fees and are best for certain business ideas. Pick the one most suited to your goals (cloudways).
Campaigns are beneficial to build the brand and gauge the interest, but beware: only 1 every 3 crowdfunding campaigns is successful! And even with a positive outcome, chances are that, attracted by its baits (medium), you have been fallen into the crowdfunding trap (medium).
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Contrarian Dart Of the Week

"By 2030 animal-derived minced meat and hamburger patties will be entirely substituted by artificial or plant-based products on supermarkets shelves."
Matthieu Crétier, Consultant at Netlight & Darter #0
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