Press PAIR Finance among the best German AI startups 2019
The “AppliedAI” initiative by UnternehmerTUM, the Centre for Business Startup and Innovation at the Technical University of Munich, has carried out a stock-take of the AI industry in Germany for the second time. The result was a database forming a landscape of the best German startups which are actively applying artificial intelligence in their business models.
Among the final 214 startups, PAIR Finance is represented in the “Finance” sector.
It was selected from a jury consisting of technology companies NVIDIA and Google, plus six leading venture capital companies (Digital + Partners, Earlybird Capital, High-Tech Gründerfonds, HV Holtzbrinck Ventures, Lakestar and Unternehmertum Venture Capital Partners). They examined more than 1000 startups to find the best AI startups in Germany.
Aside from finance, the areas covered were widespread and covered a range of industries, including agriculture, media and publishing and logistics. The three industries with the most AI startups are transport and mobility (9.3%), healthcare system and pharmaceuticals (7.0%) and production (6.1%).
And the “AppliedAI” database has a lot more to say. Compared to the previous year, there was a 60 percent increase in AI startups in Germany.
Most of them are gathered around Berlin and Munich, with the AI companies in Munich better financed, on average. The companies in Bavaria have managed to collect a total of 359 million US dollars, while those in Berlin are lagging behind at just 290 million US dollars. The average finance per startup in Munich is nearly twice as high as the average in Berlin (Munich: 6.37 million US dollars compared to 3.41 million US dollars.
The German AI startups have collected risk capital of 1.2 billion euros over the last ten years. But they are still relatively small, with only four percent employing more than 100 people.
An overview of the German AI market is also provided by Handelsblatt, which has processed the results of the “AppliedAI” database.
Information on the “AppliedAI” initiative and a complete map overview can be found here:
https://appliedai.de/startup-landscape-2019/
