Watching Germany’s tech and startup industry? Here are 7 stories you shouldn’t miss.
Cisco opens innovation center in Berlin
It’s the ninth of its kind worldwide: Cisco invested $30 million in a new innovation hub in Germany’s capital. The openBerlin has space for startups, Cisco clients and staff, and offers conference rooms, quiet workspace and creative rooms.
Another Rocket Internet startup lays off staff
Amsterdam-based travel startup Travelbird decided to shut down its businesses in Portugal, Spain, Italy, Hungary, and Poland. Twelve countries, including the Netherlands, will continue in business. However, about 100 staff members will probably be fired.
Iversity hits one million enrollments and raises additional funding
Berlin-based online course platform Iversity announced it hit one million enrollments and a seven-digit investment. The round was raised from existing investors BFB Frühphasenfonds Brandenburg, WestTech Ventures, and Deutsche Telekom Venture Funds. One third comes from the company’s management team.
Zalando surprises with its third-quarter loss
Berlin-based online shopping giant Zalando surprised with an expected loss of €18 million to €32 million. Earlier, analysts forecast a €3 million profit. Reason for the results are investments: The company has worked on its mobile and platform strategy and has increased its marketing budget
Wummelkiste files for bankruptcy
Berlin-based arts and crafts startup for kids claimed for bankruptcy.
Rocket Internet’s cleaning platform Helpling hands out its Spanish business
In exchange to the French market, Helpling handed its Spanish clients over to GetYourHero, a cleaning service launched by three Germans. Helpling also gave up other markets: In Brazil it left four cities and also closed business in Canada and Sweden. Details of the deals remain undisclosed.
ProSiebenSat.1 acquires Swedish online travel agent
Germany-based media house ProSiebenSat.1 announced a new acquisition: It bought the Sweden-based travel startup Etraveli. It was bought from Segulah, a private equity company that bought the startup in 2010. It will launch in Germany soon, the startup stated.
This story originally appeared on VentureVillage. Copyright 2015