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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Lilium, a leading electric aircraft manufacturer, has filed for insolvency for its key German subsidiaries after failing to secure a critical €100 million government-backed loan. This decision puts over 1,000 jobs at risk and jeopardizes the future of its ambitious plans for mass production of electric jets, despite having logged significant future sales. The company hopes to restructure under self-administration, aiming for a potential fresh start post-proceedings.
A 71 billion FCFA contract between the Ministry of Health and ACD is under scrutiny for alleged overbilling and lack of financial cover, prompting potential involvement from the Financial Prosecutor's Office. The contract, which includes medical equipment and services, has raised concerns about monopolistic practices and inflated maintenance costs, with suppliers challenging its legitimacy in court. Allegations of forgery and misleading authorities have surfaced, particularly regarding the use of a financing proposal from KFW, which denied any involvement in the contract.
In the third quarter of 2024, German start-ups raised 2.5 billion euros, marking a 50% increase from the previous quarter and the highest amount in over two years. The healthcare sector led with 42 financing rounds, focusing on life sciences and digital health innovations, while AI start-ups also saw significant capital growth. Experts anticipate continued positive trends in the investment landscape.
Mountside Ventures has launched Europe's first VC accelerator, the Emerging VC Manager Program, aimed at supporting emerging venture capital managers. This free, twelve-week program offers mentorship from industry experts and fundraising support, with events in major cities like Berlin, London, and Amsterdam to connect participants with potential investors. The initiative seeks to empower underrepresented managers and strengthen the European tech ecosystem. Applications are now open for VCs looking to establish their first to third fund with a defined strategy.
KFWG UG
Companies
04:50 30.10.2024
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LocalGlobe
KFWG UG
Sage 24 Ltd.
AXA Ventures
Osborne Clarke Ltd.
Hoxton Ventures II LP
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Gregor von Knesebeck
Jonathan Hollis
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12:20 14.10.2024
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