Travel startup Comtravo pulls in €8.5 million
The Berlin-based startup Comtravo closed a Series-A round with 8.5 million euros (9.7 million USD), for their artificial intelligence technology that promises to simplify business travel. Already backed by Project A and the Swedish venture capital firm Creandum, the startup Comtravo, founded in 2015, says the money will be used to further develop the product and expand internationally. The software works by analyzing a client’s email request and then suggest relevant booking options based on key words found in the email. The software then generates booking options for the user, who can even book the trip via their email.
Media startup Merkurist receives €1.5 million
The Mainz-based media startup Merkurist received 1.5 million euros from existing shareholders to expand across Germany. The startup, which uses a software to let every day citizens recommend additional reporting on particular topics, was founded early in 2017. The hope is to strengthen the connection between readers and the media, but also establish a cross-publishing network between editorial offices belonging to different companies.
Music platform SoundCloud lets 173 employees go
The Berlin-based startup founder Alex Ljung announced that SoundCloud let 173 employees go, in order to cut costs and ensure continued growth. They also consolidated their team into two offices: Berlin and New York. In recent months there have been rumours SoundCloud might make an exit, but nothing concrete has manifested yet. In the mean time, SoundCloud is only releasing numbers and growth data from 2014.
Gamigo buys Mediakraft
The Cologne-based startup Mediakraft, which was made popular by YouTube influencers, was bought by the online games publisher Gamigo. It is expected that Mediakraft works together with Gamigo subsidiary Adspree. The Mediakraft network has roughly 1.8 million viewers active per day and around 600 million video views per month. Gamigo reports having 100 million registered users.
Caspar-Health collects €2 million
The Berlin startup Caspar Health raised 2 million euros. The capital is for further expanding their rehabilitation platform and venturing into Asia, the founders share. Atlantic Labs, Think.Health Ventures and Helmut Nanz, who runs the largest therapy chain in Germany, all invested in the seed round. According to the startup, which was founded in February 2017, they attracted the attention of several large inpatient and outpatient rehabilitation facilities across the country.