Did you know Tracxn Soonicorn Club 2020: Top Tech Startups In Germany includes a project from our region?
Basics first, Tracxn Soonicorn Club provides a handpicked selection of high potential and high growth companies. The shortlisting is based on a combination of multiple publicly available signals and detailed analysis of the company by our internal sector specialist teams. The companies that make the cut are the ones that show promising performance on multiple parameters — market size, investment by marquee investors, execution excellence and future growth prospects.
The Soonicorn Club comprises of Unicorns — companies with over $1 billion valuation, Soonicorns — companies with high valuation and good chances of soon becoming Unicorns, and Minicorns — early-stage companies that have the potential to be Unicorns in the long term.
The most updated version was published in the end of December, last year, so less than a month ago, and can be analysed here.
In the list, there is one company from Frankfurt — Arago.
arago’s aim is to provide the benefits of Artificial Intelligence to enterprise customers globally through Knowledge Automation.
From an investment in over 10 years of research into General AI, arago launched the first version of Knowledge Automation in 2010 for its internal IT Operations. Having overcome the limitations of Expert Systems and other rules based scripting engines, our Frankfurt based research and product teams then launched the first commercial version in 2013 for IT Operations.
Following an investment from KKR in 2014, development of HIRO was accelerated and Knowledge Automation support was extended across all processes and industries as a SaaS product.
The Driving Vision behind arago is Hans-Christian Boos — “the visionary thought leader behind the Corona app”:
Nevertheless, before we start dreaming of Unicorns of tomorrow, Handelsblatt also wrote recently about the unexpected bad results of the company, and the possibility of an Exit there:
According to the publication, Wisekey is soon to take over the majority in Arago in the course of a capital increase and then buy the minority stake. The preliminary valuation is 100 million francs, around 93 million euros. The takeover still depends on the approval of the authorities.
We may have some other hidden Soonicorns in our Valley ???
Sifted today included as well one startup from our region under the German startups to watch in 2021:
Spoiler alert — we wrote about them several times here.