High amounts – sustainable growth

Swiss start-ups secure large sums of money from all kinds of investors. And they are able to turn this money into sustainable growth.

Dear reader 

It is an unrivalled success story. The obesity drug Wegovy – usually referred to by the media as the slimming jab – has made Novo Nordisk the most valuable European company. However, the Danish company is not resting on its laurels, but instead keeping its pipeline well filled. It has now concluded a collaboration and licence agreement with EraCal: the spin-off from the University of Zurich is working on a new type of appetite suppressor and is eligible for up to CHF 220 million in payments.

Carvolution secured a similarly large sum as part of asset-backed financing. The car subscription start-up will receive up to CHF 200 million from British bank Barclays and other lenders in order to further expand its car fleet.

Sygnum Bank received a classic investment: the company raised more than USD 40 million at a USD 900 million valuation. The financing follows very good business figures. Sygnum closed 2023 with a USD 100 million annualised revenue run rate and achieved positive cash flow in Q4.

Swiss start-ups have now mastered the discipline of growth. They are able to attract a wide range of investors and use the money sustainably. This is demonstrated by another Swiss growth company. Thanks to numerous new customers, Yokoy significantly increased its turnover last year. Like many other well-financed scale-ups, the fintech also improved its profitability; however, it managed to do so without any major savings rounds. It has also continued to grow in terms of personnel.

Other start-ups are currently beginning the scale-up phase. Perovskia Solar is building a factory in Aubonne in order to manufacture one million devices per year. Effetto Venturi has already achieved initial market success around the globe with its autonomous buoys and is now working on cost reduction and industrial-scale production to broaden its market presence. And a partnership with TeamViewer should give Almer a sustainable growth boost.

The latest Swiss Venture Capital Report will be presented on 30 January. Registration is still open for the launch event in Zurich.

A number of deadlines are looming: 31 January for the Future of Health Grants and 4 February for the next Startup Champions Seed Night at EPFL. The application deadline for the new Tech4Regeneration programme is 10 February. Applications are also open for the ESA BIC programme and the Swiss Fintech Awards.

Have a good weekend.
Stefan Kyora

Editor in Chief, Startupticker.ch