The signs point to growth

Dear reader

Originally, ender diagnostics, under the company name Livet, developed tests for horses whereby  a virus infection was diagnosed with a nasal swab. When Covid-19 became an issue, the team used its existing technology to develop rapid tests – and with success. Airline SWISS now uses the tests for its cabin crew on long-haul flights.

Using challenging situations as an opportunity is at the core of entrepreneurship. And so some Swiss start-ups have done better than ever during the crisis, including Farmy online market, which this week secured an investment of CHF 10 million. And car subscription platform Carvolution can now expand its fleet, thanks to a financing solution from Mobiliar of CHF 50 million.

It is worth noting, however, that start-ups that have no connection with Covid-19 have also concluded large growth financing rounds. Biotech company BioVersys received CHF 19 million and can now bring its first two drug candidates against infectious diseases into the first trial phase on humans.

Once again, a significant amount of money went to Climeworks. In April, the cleantech company announced a cash injection of CHF 73 million. Further investors have topped up the amount, so now it has received a total of CHF 100 million. The spin-off from ETH Zurich is the first start-up this year to reach this threshold.

This week, the Swiss Economic Forum, the first major business event since the start of the lockdown, took place in Montreux. Our two articles reveal which three start-ups won the SEF Award and what the new SEF.Women Award is all about.

Speaking of awards, the Swisscom Startup Challenge is not new, but the concept has been completely revised for the current edition. Instead of a trip to Silicon Valley, start-ups with 5G prototypes or products can win a one-week exploration programme accompanied by a team of experts. Applications are open until 11 October.

Next week, the start-up scene will meet at the awards ceremony of the Top 100 Swiss Startup Award. Those who cannot be there can follow the ceremony via the livestream.

The Fintech Fair will take place in Zurich net week on Monday and Tuesday, both on site and digitally.

Have a sunny weekend
Stefan Kyora

Editor in Chief, Startupticker.ch