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Edition: December 2020
NEWSLETTER December 2020

As Europe is getting back to lockdown, tech-enabled business models are thriving across industries: Elder is providing an alternative to precarious senior homes, ArtNight is offering a substitute for cancelled Christmay parties, KNIX pre-empted Black Friday and Acton Alumnus MyTheresa is prepping up for an IPO in 2021 (read more below).

We are proud of our portfolio companies are getting ready to shape a post-Covid future: greener, more digital, more resilient.

Enjoy reading our last newsletter in this year and stay safe!

Best
Jan-Gisbert Schultze

PORTFOLIO NEWS.

ELDER. In times of Covid19, the live-in senior care specialist is mobilising all resources to meet the needs of the UK's seniors and their carers. To recognise its amazing effort, The Times ranked the startup among the Top10 of the UK's fastest growing tech companies and named Elder as the Best Management Team 2020.
ARTNIGHT. Christmas party cancelled? As companies are seeking an alternative to offline team events, ArtNight is seeing a rush on their digital BakeNights. After the Corona pivot to online-workshops and a cash infusion by German food giant Dr.Oetker, the team is perfectly prepared: deutsche-startups.de
LASERHUB. In case you missed our investment into the industry 4.0 startup from Stuttgart: Laserhub operates a vertically integrated procurement platform for custom metal parts on-demand and closed its Series A with participation from previous investors Project A and Point Nine to further expand in Europe: Tech.eu
SOSAFE. Give phishing mails no chance - the latest addition to our portfolio, Cologne-based startup SoSafe Cybersecurity Awareness raised a seven-digit funding round by GFC and Acton Capital to expand SoSafe's phishing simulations, helping companies to activate their "human firewall": Tech.eu
MAPLE. One year after our initial investment into the Canadian virtual care provider, Shoppers Drug Mart - full subsidiary of Loblaw Companies Ltd and one of the most recognized names in national retailing - invested another C$75 million to further expand Maple's telemedicine and virtual care program: BetaKit
MAMBU. With more than 200 clients from challenger banks to large incumbants and 20 million end-users worldwide, co-founder Eugene Danilkis talks about agility, Mambu's first steps and how he would explain the business to his grandma: deutsche-startups

CONVELIO.
From Europe to US - driving international operations during a pandemic has had its challenges. However, the logistics tech startup launches in the US and will be the official shipping partner for the art fair 'Design Miami': LinkedIN

HOMETOGO. "Rather Mecklenburg than Mallorca" - how Corona is changing German travel patterns and holiday plans, the worldwide search engine for home rentals published a new travel forecast for 2021: BILD

KNIX. As this year’s Black Friday was expected to be e-commerce heavy and a logistical nightmare for the US shipping infrastructure, the women's intimates brand skipped the shopping holiday entirely and was still sold out within two hours. How KNIX pre-empted Black Friday without investing in marketing: Glossy

SOFATUTOR
While more and more schools in Germany are going back into lockdown, authorities still struggle with how to teach students at home. Now startups like Sofatutor want to close the gap: Süddeutsche Zeitung

IWOCA. The SME-lender and participant in the UK's Coronavirus Business Interruption Loan Scheme (CBILS) plans to double the amount it lends through government-backed loans to £200m before applications close on January 31 next year: The FinTech Times

VIMCAR. "As a German business operating in the UK, Brexit has always been a bit of a different proposition for us," says Andreas Schneider, CEO of Vimcar. "Our commitment to the UK is for the long-term. We’re excited about the prospect of this market and feel that we bring something different to SMEs here." Interview via Fleetworld.co.uk

PLANTURA. The direct-to-consumer brand for sustainable gardening is getting ready to draw a line under this crazy year and offers the perfect Christmas present, the Plantura Planting Calendar 2021.

EXITS.

MOMOX. With €250M in revenue, 1,900 employees and 220 million articles purchased, momox is the largest vendor for used goods on Amazon worldwide. "When we got on board, the team still ran all business activities from a small warehouse in Berlin," recalls Acton partner Christoph Braun. A decade after our initial investment, we sold our shares in Europe’s leading re-commerce platform to Verdane: Unquote
MOBIFY. Salesforce acquired our Canadian portfolio company Mobify - the mobile front-end specialist from Vancouver, BC will provide its storefront solution to the Salesforce Commerce Cloud. Four years after our initial investment into the team around CEO Igor Faletsky, Mobify is supporting global brands such as Under Armour and Shiseido to deliver "amazing digital customer experiences to everyone":  Medium

ALUMNI.

Going public out of Aschheim: MyTheresa is getting ready for its IPO in the US in early 2021, seeking a valuation of about $1bn - $1.5bn. With customers in 140 countries and expected annual sales of US$500 million, the online pioneer in the luxury industry has grown into a global boutique. By the time Acton got on board, the company had made €10 million in revenue and almost broken even. Read The Acton Angle on how a power couple from Munich founded the world’s leading online retailer of luxury fashion:  "Fashion Forward - The MyTheresa-Story"

FROM THE TEAM.

The Acton family's growing! In his former role at Google, Joseph Hefele supported Europe's leading retailers in shaping their digital strategy. With his knowledge community Emerald Nodes, Joseph is driving exchange within the tech world across both sides of the Atlantic. Joseph holds degrees from St. Gallen as well as Columbia University, studied and worked in Bangkok, Hamburg & Berlin, before finally returning to Munich.
Tom Rentschler joined the team earlier this year and has since transitioned to a permanent role as analyst. After his studies at Zeppelin University and UC San Diego, Tom gained practical expertise in several startups (e.g. Kry), consulting (EY) and private equity (Armira) before he finally settled in Munich and on venture capital. Welcome both, great to have you on board!

GET IN TOUCH.

Any feedback, questions or want to get in touch with the team? Please drop us an email.
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