By Dennis Clemente
German startups in New York to seek funding, gain more exposure and reach
NEW YORK–German startups Keeeb, Favendo and Night Adivsors took turns demonstrating their platforms at the German Accelerator NY last December 15 at Rise NY.
Conrad Gulla of Keeeb got the most votes for his presentation of his platform. Touted as a personal Google for everyone, it helps you clip anything online, similar to how Evernote’s Skitch and other similar tools work but one that you can even put to good use on MS Word as well.
Gulla said the company has mostly relied on word of mouth to reach 75,000 beta users at the moment, some of them making productive use of their clips at $9 a month with large organizations paying higher for its additional services.
“We started with large organizations in mind. If we can get them into this product category, we (believe we can get the small companies),” he said.
Keeeb is hoping to get a slice of the e-commerce industry which raked in $87 billion dollars in the third quarter with 200,000 etailers enjoying that windfall. Amazon even managed to get 15% of the pie through its constant consumer innovation.
The German startup is seeking Series A funding within 3 to 6 months.
The panelists who took turns asking the presenters some questions were Jessica Peltz-Zatulove, principal of kbs+ ventures; Deepen Parikh, venture partner of Interplay Ventures and Mitchelle Kleinhandler, venture partner of Scout Ventures.
Would you believe the GPS was invented in 1978? It certainly sparked a revolution in how people interact with the world around them. In the digital age, it has become more than just a navigation application. GPS is on Google Now, Google Maps, Foursquare, Uber and Waze.
With Favendo, David Keil said it has brought GPS indoors using beacons installed at retail stores, for instance. “Retail is just the beginning,” he said. It ultimately seeks to become the search for the physical store, even car finder.
“We are also working with hospitals now,” he said. Eventually, he wants to add airports, museums, train stations and office buildings.
The bulk of sales comes mostly from its software. Keil said Favendo has amassed $2.3 million in revenue with 50 installations and 30,120 beacons deployed to date. The beacons cost $25 to $30 each. It charges a monthly service fee that depends on the size of the venue. Customers have to download the app.
How much do NYC venues need to earn per night? More than 250 customers but the money earned also goes to the average rental fee of $54,000 a month. That’s New York for you.
Last presenter, Johannes Herzer, CEO of Night Advisor, talked about how his company brings people to venues and how it addresses the limited time for online marketing. Its Saas tool empowers venues and events to create and manage ad campaigns in minutes.
Since inception a year ago, it has raised $40K from angel investors, including club owners with an average revenue per customer of $165 month.