Hamburg-based tech start-ups raise EUR 25 million in funding round

27 October 2023

Good Bytz and Oxolo raise millions in Series A funding rounds - new growth opportunities

The Hamburg-based Good Bytz und Oxolo start-ups have secured EUR 25 million in a Series A funding round. The founders of the food-tech start-up Good Bytz raised EUR 12 million for its kitchen robot while the founders of Oxolo secured EUR 13 million for its AI-generated videos.

Good Bytz robots to relieve catering sector

Dr Hendrik Susemihl, founder of GoodBytz, told the leading German business daily Handelsblatt: "We will continue to ship small quantities in the coming months, but the investment will allow us to expand production." The fresh capital comes just after the start-up secured an investment of EUR 2.5 million. The venture capitalist Oyster Bay Venture Capital, Block Group are investing in Good Bytz. Its kitchen robots prepare meals quickly and serve a variety of dishes. Hopes are now high that the robots can eventually compensate the lack of skilled labour in the catering industry.

Oxolo founders bringing breath of fresh air to online retail

Meanwhile, the Oxolo start-up has secured an investment worth millions and is "proud of its success", Elisabeth L'Orange, joint founder, wrote on LinkedIn. The company is aiming to revolutionize customer interaction and employee engagement using AI-generated videos. The venture capitalist DN Capital and business angels Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert and Mischa Ruerupi are investing EUR 13 million in the company. Oxolo's 50 employees make its text-to-video applications available to over 100,000 customers worldwide. And Oxolo is just getting started, L'Orange stressed.

fw/sb/pb