Known for its high GDP, excellent wages, and tax breaks, Luxembourg is also making a name for itself in the startup world. Over the past few years, the country has witnessed the emergence of multiple startup initiatives, incubators are flourishing and venture capital is on the rise. The high number of educated international people combined with the stable economy make it a perfect recipe for a successful entrepreneurial community.
Having scanned the horizon for the talented teams working hard in this country, here are 10 promising young startups founded in the last three years between 2017-2020, and working on innovative solutions, that we will be watching in 2021.
Tokeny – Launched in 2017, Tokeny Solutions allows financial actors operating in private markets to compliantly issue, transfer and manage securities using blockchain technology. The idea is to enable clients to increase efficiency in their operations, enforce global compliance obligations, enable automation and ultimately gain a competitive advantage. So far it’s going well. In 2019 they were included in KPMG’s top 100 FinTechs globally, awarded Luxembourg’s FinTech of the year and raised €5 million in funding from Euronext Group.
EmailTree – EmailTree (founded in 2019) is setting up a new standard in customer service. Their end-to-end solution reads the emails (or any kind of text requests), processes the information to understand the different situations and issues, and prepares optimal and quick reply suggestions. Results: 60% decrease in average resolution time per email, 1 minute average resolution time per email and 25% sales increase. In 2021, the startup raised €1.4 million from existing investors to help automate even more work processes.
Ziggu – Founded in 2017, Ziggu offers a customer follow-up platform for real estate developers. The platform helps property developers engage with customers in a more efficient way, providing a single point of information regarding the purchase: documents, news, updates, messages, etc. Besides that, it helps organize all projects and customers and it even automates some repetitive tasks. According to the startup, this results in a 37% increase in efficiency and a 46% increase in customer satisfaction. In October 2020, they raised €1 million from Torus Capital and PMV.
Kleos Space – Launched in 2017 by space engineers, Kleos Space develops satellite infrastructure platforms that will generate commercial ISR and geolocation intelligence data. The data will then be sold via subscription to government agencies, the intelligence community, end users and/or businesses. The data-as-a-service company announced the successful deployment of its first Scouting Mission satellites (KSM1) in November 2020. The second and third cluster of satellites is planned to be in orbit before the end of 2021.
Machinations.io – The Fit4Start accelerator alumni develops a browser-based game design platform designed to change the way video games are made. How? By providing a seamless flow between creators, diagrams, game engine and player behaviour through a Turing-complete language in an interactive diagram. The platform enables users to map any game system, set parameters that define the relationship between them, and visualise the way in which these systems work. The result? 19,000+ game designers and developers and 250+ universities and academic institutions as satisfied customers.
Next Gate Tech – Next Gen Tech is a data-driven FundTech that provides intelligent automation solutions for the asset management industry. The solution relies on next-generation technology to offer data management as a service, and smart automation of back-office processes, as NAV oversight and risk management metrics overview. In July 2020 the company raised €2 million in funding from Middlegame Ventures and Expon Capital to drive further the digital transformation in the fund industry operations processes.
Evercity – Attaining the UN SDGs can be a long shot if there is no efficient measurement of investment outcomes, poor investment liquidity or low returns. Evercity is hoping to help in this regard with its blockchain, IoT and AI-powered platform for impact measurement, management and investment, enabling impact funds & banks to accelerate finance flows into projects and innovations. The first step: smart sustainable bond (SSB) protocol, designed to support the full lifecycle- structuring, issuance and reporting – of sustainability-linked bonds. The startup which was founded in 2018 is currently raising a seed round.
Stokr – Founded in 2018, Stokr is a peer-to-peer investment platform, built on blockchain, connecting retail investors and business founders to finance forward-thinking ideas. It enables investors to directly fund innovative startups and SMEs in return for a share of the venture’s future profits, through EU-compliant security token offerings (STOs). Current investment opportunities on the platform: a sci-fi strategy game and a high-performance, Italian tailor-made hypercar.
Joompay – Joompay (founded in 2019) is a secure and easy-to-use app that provides seamless, secure, and lightning-fast money transfers across Europe. Joompay users can split bill payments, make purchases on the internet or send money to another country in a flash. As of February 2021, the startup is a Principal Member of the Visa card scheme, allowing it to issue its new Joompay cards across Europe. Joompay is already available in Luxembourg and will be live in all countries of the European Union in the following weeks.
ANote Music – Anote Music is a blockchain-based marketplace for investing in music royalties. Launched in 2020, the platform allows users to invest in music, own rights from content creators and earn returns through royalties from music consumption. The concept of investing in music rights as an alternative investment is openly welcomed by the financial community and the startup has already raised €500K to accelerate their mission of “making music investment opportunities available to everyone.”
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