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The "golden" dozen of Greek startups for 2018

Μsignificant increase in investment recorded in recent years in country startup scene which is expected to help the further development of the ecosystem but also to contribute to the improvement of the economic climate.

According to the annual report of Found.ation and EIT Digital that reflects the state of the young business scene after the activation of Equifund, the Greek startups raised this year around 116,5 million, an amount increased compared to 100 million .euros received last year. It is also interesting that 70% of this amount was received by the first 3 start-ups of the golden ten of startups.

Despite the increase in funding, of course, the number of exits was lower this year compared to previous years. Specifically, in 2018 the coveted exit was made by 2 startups from the 5th and 5th of 2017 and 2016.

Examining the profile of the 10 startups that received the most funding in 2018, one comes to the following common features. Most start-ups have to survive for about 5 years before receiving their first financing. On the other hand, most of the funding was given to startups that had an average lifespan of 6,5 years.

The "golden" dozen of startups have run an average of 2,9 rounds of financing while the investors who trust them number about five. Finally, in terms of employees employed by the startups that received the most funding, they range from 55 to 100.

Another feature of "Greek" startups is that they maintain offices in three countries, while 70% of them one of the offices is located on American soil. This percentage is well above the European Union average - 54% of European startups have offices in the US. The reason why foreign countries are chosen is on the one hand the approach of investors but also the common one for each business product or service and on the other hand the lower tax rates.

Finally, according to the research, a differentiating element for the current year is the reduction of financing by angel investors and the increase of venture capital financing funds.

But who are they? 10 golden startups of 2018 

  • Workable - 43,83 million euros
  • Softomotive - 21,75 million euros
  • Viva Wallet - 15 million euros
  • Blueground - 10,44 million euros
  • Hellas Direct - 7 million euros
  • Pollfish - EUR 5,48 million
  • Whale (Resin.io) - EUR 4,35 million
  • Metis - EUR 4 million
  • Centour Analytics - 2,5 million euros
  • Home-Made - 2 million euros

 

The object of the top startup in terms of financing.


H Workable has a cloud based hiring platform for businesses. The startup founded by George Moraitakis and Spyros Magiatis, at the height of the crisis, through smart tools facilitates small and medium enterprises in the process of job applications and personnel issues, in the absence of a competent department.


Softomotive is considered a market leader in Robotic Process Automation (RPA) and today serves thousands of customers worldwide.


With an emphasis on innovation and with a vehicle of its internationally leading know-how, the Viva Wallet IBAN leads the developments in electronic payments, developing modern services and products that meet the unique needs of businesses, freelancers and individuals, such as card billing terminals, electronic payment platform and more. Following the latest € 15 million funding from DECA Investments, Viva Wallet has expanded abroad and now has offices in 13 European cities.


The Blueground is considered as one of the fastest growing companies in the field of hospitality with about 1.500 high quality apartments in its portfolio, on three continents (Athens, Istanbul, Dubai, New York, Boston, Chicago, Washington, San Francisco and Los Angeles). Blueground's goal is to operate in 50 cities with 50.000 properties by 2023.


Hellas Direct is an InsurTech Startup founded in 2011 by Emilios Markou and Alexis Pantazis and managed to make the necessary disrupt in the static insurance industry. With the financing of 7 million euros, it expanded its activities in the Greek insurance market, developing more innovative insurance products (such as day insurance) while accelerating its expansion in foreign emerging markets.


The Greek startup Pollfish offers a new kind of market research that stands out for its quality and speed and is already located in more than 160 countries with its services available in over 24 languages. In less than three years it has managed to expand, from 120 million consumers to 475 million. With the funding it received, he announced, it will try to accelerate its growth.


The Whale (Resin.io) provides the infrastructure and tools for the development and management of IoT projects at any stage. With offices in Athens, London, Seattle and Washington, D.C., it is developing an innovative code platform that "runs" on devices that connect to the Internet of Things.


METIS is committed to shipping develops a platform that enables fleet management through real-time data capture that helps diagnose and predict unwanted situations.


Regarding Centaur Analytics is active in the field of agri-food and develops innovative systems that monitor crops with the help of artificial intelligence.


Finally Home Made is a platform that connects tenants online with interested parties.

Source

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