Dear reader
Switzerland has a new unicorn. Digital asset banking group Sygnum, which was launched in 2018, has raised a total of USD 58 million in a Strategic Growth Round, giving it a post-money valuation of more than USD 1 billion. Remarkably, the co-founders, board and team members continue to hold majority ownership of Sygnum.
The largest investment, however, went to a biotech company. Founded by serial entrepreneur Luca Santarelli, Windward Bio has just launched with a USD 200 million capital injection from a high-profile international consortium. And another Basel-based biotech start-up has secured a large sum: RhyGaze will receive USD 86 million – the lead investor is Google Ventures.
VC investments generally stand out due to their extraordinary size, outstanding investors or high valuations. This week, the Swiss start-up scene had all three to offer, demonstrating that not only are there ground-breaking inventions in this country, but also founders with the right mindset and the will to build global category leaders. The transactions may also send out an important signal: an upturn in financing could come because big-name investors invest larger sums and other backers simply follow suit.
In this sense, it is particularly encouraging that in addition to Sygnum two other start-ups from the financial sector were able to attract investors this week. B2B travel insurtech company Insurteam has secured CHF 700,000, and Nevermined has received CHF 3.6 million. Nevermined’s founders are not lacking in ambition either: they want the company to become the Paypal of AI commerce.
There was also good news on the exits side: EPFL spin-off Lyncée Tec has been sold to South Korean company Park Systems.
The deadline for Startfeld Diamant is imminent and applications are currently open for numerous other prizes and programmes, including the Swiss Fintech Awards, the Swiss Economic Award, *zünder and Prix BCN Innovation.
I would also like to draw your attention to a webinar organised by Euresearch on 20 January, which will provide information on the new opportunities for Swiss participants in Horizon Europe. More information about participation in the EIC Accelerator and Horizon Europe in general can be found in our Grants & Loans Directory.
In just over two weeks, we will present Swiss Venture Capital Report in Zurich and Lausanne. The magazine can be pre-ordered in your profile.
Have a good weekend.
Stefan