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Startup financing doubled in Austria

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The number of financing transactions rose from 17 to 28, according to the startup barometer of the management consultant company EY. The main reason for the increase is that investors poured EUR 41 million in the Viennese travel startup Tourradar in June. The second highest round of financing in the first half-year was EUR 25 million for the Carinthian video streaming startup Bitmovin, followed by the Vienna-based vaccine developer Themis Bioscience (EUR 10 million), the Viennese sports software startup Eversports (EUR 5 million) and the Lower Austrian "HD Vinyl" startup Rebeat (EUR 4 million).

"The Austrian startup scene developed in a very buoyant manner in the first half of 2018 following a very strong year 2017“, said Thomas Gabriel, Head of Start-ups at EY Austria, in commenting on the latest figures. The range of financing has improved. Capital injections for young companies have taken place across all sectors, which underlines the diversity of the Austrian startup scene.

The EY barometer evaluates reports about financing rounds without claiming to be an exhaustive list, working in cooperation with an external team of analysts. In the first half of 2018, a total of 1,995 financing transactions (+ 19 percent) for startups took place totaling EUR 10.2 billion (+ 27 percent). Financing rounds which did not provide specific figures ("undisclosed") were also counted.

 

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