Meet Germany’s 2 Newest Unicorns

It’s official, Germany has officially welcomed 2 new Unicorns to its roster, with drone startup Quantum Systems and AI agent Parloa both reaching milestones of a $1bn valuation.

This is big news for Germany, as it now celebrates being the home of 28 Unicorns according to Sifted.

What Is A Unicorn?

But you might be wondering – why is having a ‘Unicorn’ such a big achievement?

Well, Unicorns are privately held startups that are valued over $1 billion. They got their name because just like their namesake (Unicorns) they are a rare and mythical breed.

According to PA life, there are currently 202 unicorns in Europe, with the UK, France and Germany leading the charge.

The Netherlands and Sweden are also emerging as strong startup hubs with 7 currently listed in each country.

So, who are Germany’s newest Unicorns? Let’s take a look…

Quantum Systems

Founded in Munich, Quantum Systems is an autonomous drone startup on a mission to improve aerial intelligence.

With their electric vertical take-off and landing (eVTOL) drones, Quantum drones are able to collect vast amounts of aerial data in real-time. This has been particularly useful for armed forces, humanitarian agencies and businesses.

So what sets their drones apart? Well, they combine the convenience of a multi-rotor drone with the aerodynamics of an airplane. Because of this, no runway is needed, and the drone is able to accelerate and conserve energy in the same way that traditional airplanes are.

In the future, the company plans to invest in a network of drone ports, where customers can access real-time data across the whole network, instead of needing to buy the drones themselves.

This could help make aerial data more accessible to those that are unable to pay for the hardware specifically.

Currently, the company has logged over 250,000 flight hours and employs 400 people. Most recently, its Series C fundraise, which was led by Balderton Capital secured it a valuation of $1bn, solidifying it as a Unicorn.

Parloa

A slightly different proposition, Berlin-based Parloa is helping companies use AI for customer service.

Their platform helps businesses design and implement AI agents that can help with customer support services across phone, chat and messaging.

Unlike other AI chatbot services that comes with long customisation processes, Parloa promises an easy, quick and efficient system.

The platform is also secure and complies with GDPR, HIPAA and ISO, so companies don’t need to worry about data protection.

In addition to this Parloa also integrates easily with CRM systems like Salesforce, ServiceNow and Twilio, making it easy to keep track of customer interaction.

By allowing companies to bridge the gap between human and AI agents, Parloa is making it easier for businesses to grow and service their customer base, without compromising on quality.

Just this month, the company raised $120m in its Series C round, pushing its valuation into unicorn territory.

What Other Unicorns Exist In Germany?

Germany is home to some innovative unicorns, disrupting industries like AI, transportation, fintech and eCommerce.

Some of these companies are:

• Personio – HR software
• Wefox – Insurtech
• Flix – Travel booking
• Sennder – Road logistics
• N26 – Fintech
• Celonis – Process mining
• DeepL – AI language translation
• 1KOMMA5° – Climate tech

Germany As A Startup Economy

As one of the biggest economies in Europe, it’s no surprise that Germany has added more Unicorns to its roster.

As Europe is continuing to nurture startups and drive innovation in areas like tech and AI, it will be interesting to see how many more Unicorns are announced this year.