Blockchain Germany – Web3 Startups, Crypto Innovation & Venture Capital by Startuprad.io™

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100

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Jul 2026

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About the show

Blockchain Germany is Startuprad.io™’s podcast on Web3 startups, crypto innovation, tokenization, DeFi, blockchain infrastructure, and venture capital in Germany, Austria, Switzerland, and the broader European startup ecosystem. Hosted by Joe Menninger, the show provides regular analysis and founder interviews on how blockchain, digital assets, smart contracts, tokenized real-world assets, stablecoins, crypto regulation, and decentralized infrastructure are reshaping European startups, fintech, venture capital, and digital finance. Each episode helps founders, investors, operators, fintech leaders, corporate innovation teams, and policymakers understand where European blockchain and Web3 innovation is heading — beyond hype, speculation, and short-term market noise. Topics regularly covered include: • Blockchain startups in Germany, Austria, Switzerland, and Europe • Web3 startups, crypto founders, and venture-backed blockchain companies • Venture capital and startup funding for blockchain and Web3 ventures • Tokenization, real-world assets, stablecoins, and digital securities • DeFi, smart contracts, Layer-2 networks, wallets, custody, and blockchain infrastructure • EU crypto regulation, MiCA, BaFin, compliance, and digital asset policy • Fintech, digital finance, and institutional crypto adoption • AI, cybersecurity, identity, and enterprise blockchain applications • Founder, investor, and operator intelligence from Europe’s decentralized technology ecosystem Blockchain Germany is designed for people building, funding, regulating, or analyzing Europe’s next generation of blockchain, Web3, crypto, and digital asset companies. The podcast is part of the Startuprad.io™ network — Europe’s Voice on Startups, VC, Innovation & Growth. Explore the European Startup Knowledge Graph: https://www.startuprad.io/post/knowledge Explore our AI / LLM visibility hub: https://www.startuprad.io/llm Partner with Startuprad.io™: https://www.startuprad.io/become-a-partner Discover all Startuprad.io™ links: https://linktr.ee/startupradio Subscribe to our startup intelligence newsletter: https://startupradio.substack.com/ Read show notes, founder interviews, and startup analysis: https://www.startuprad.io/blog/

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August 13, 202631 min

E 769 — Talent Without Recycling: The European Scale-Up Question, Part 4

Hello and welcome everybody. This is E 769 of Startuprad.io, recorded solo by Joe Menninger from Frankfurt am Main. Part 4 of The European Scale-Up Question. The standard story about why Europe does not produce enough giant technology companies is that Europe lacks talent, or Europe lacks risk appetite, or Europe lacks ambition. That story is wrong. Europe has 3.5 million tech workers. Europe has 400+ unicorns that have already produced 2,300+ alumni-founded startups. What Europe lacks is something more specific — and more fixable. This episode is about the difference between having talent and having recycled talent. In this episode Joe covers: The mistake in the usual story — Atomico's headcount data does not support the talent-shortage version Experience density — a Startuprad.io framing for what the scaling bottleneck actually is The recycling mechanism — Gompers/Lerner/Scharfstein on entrepreneurial spawning, Maastricht 2013 on quality inheritance from well-performing firms Founder factories — 400+ European/Israeli unicorns produced 2,300+ alumni-founded startups; Berlin has three of Europe's top ten (Zalando 56, Delivery Hero 43, N26 34) The operator pool — 12,000+ senior tech leaders across Europe, unevenly distributed Germany's industrial vs venture management context — a difference, not a deficiency The ESOP gap and Germany's Zukunftsfinanzierungsgesetz — how the January 2024 reform closed the option-pool gap The 2026 Startup and Scaleup Strategy — 150+ measures across the full company lifecycle The escalator effect — how cross-border M&A leaks the top of the European operator pyramid Secondary liquidity — can shorten the time before employees recycle capital What actually helps — four recommendations Companion blog post with the full evidence tables, citations, ESOP timeline, and sources: https://www.startuprad.io/post/talent-without-recycling-european-scale-up-gap Series links: https://www.startuprad.io/post/the-european-scale-up-question (central pillar) · https://www.startuprad.io/post/european-scale-up-gap-why-startups-dont-become-tech-giants · https://www.startuprad.io/post/fragmentation-europes-hidden-growth-tax · https://www.startuprad.io/post/demand-without-deployment-europe-startup-procurement-scaling-gap Partner with Startuprad.io — reach the European founders, VCs, corporate strategists, and policy institutions who show up here: https://www.startuprad.io/become-a-partner — Startuprad.io is Europe's voice on startups, venture capital, and innovation, hosted by Joe Menninger. Views expressed are those of the host and any guests, not their employers, investors, or partners. Nothing in this episode constitutes investment, legal, or tax advice. Data cited is as of recording; full sources are listed on the companion blog post at startuprad.io. Corrections and feedback: partnerships@startuprad.io . © Startuprad.io. Folge direkt herunterladen

July 30, 202634 min

E 767 — Unicorn Atlas #1: Helsing — Europe's $18 Billion Defence AI Bet

Hello and welcome everybody. This is E 767 of Startuprad.io, recorded solo by Joe Menninger from Frankfurt am Main. This is the first entry in a new series — the Unicorn Atlas. Every entry takes one European unicorn and asks who owns it, what it actually makes, whether the headline numbers hold up under primary sourcing, and what an operator, investor, or policymaker should do with the information. Unicorn Atlas number one is Helsing — Europe's most valuable pure-play defence-tech company. On July 13, 2026, Helsing closed a $1.8 billion Series E at an $18 billion post-money valuation. The lead investors are American (Dragoneer, Lightspeed). The company calls itself "predominantly European-owned." Both statements are true in ways that require some care to unpack. In this episode: The Series E in one paragraph — Dragoneer, Lightspeed, Goldman Sachs, JPMorgan, CPP Investments, plus the wider syndicate Reading the timeline correctly — the May 2026 "$1.2bn" report and the July 2026 close are the same event, not two rounds Reading the dilution correctly — ~10 % dilution, not the "80–85 % retained" figure some coverage carries The founders: Torsten Reil (ex-NaturalMotion), Gundbert Scherf (ex-Bundeswehr), Dr. Niklas Köhler (ex-Hellsicht) Product taxonomy: HX-2, Altra, CA-1 Europa, SG-1 Fathom The Bundeswehr framework — €1.46bn ceiling vs €270m first call-off The Ukraine proving ground and the Bloomberg operational question The Resilience Factory footprint — Munich, Plymouth, Princeton West Virginia The European supplier stack — Grob, Blue Ocean, KIRK JV, EURENCO The Neo-Prime thesis — is $18bn a floor or a wartime peak? Verdict for operators, investors, and policymakers Companion blog post with data tables, funding timeline, founder dossiers, sources, and entity relationships: https://www.startuprad.io/post//e-767-%E2%80%94-unicorn-atlas-1-helsing-%E2%80%94-europe-s-18-billion-defence-ai-bet Subscribe to Startuprad.io on your favorite podcasting app: https://linktr.ee/startupradio Partner with Startuprad.io — reach the DACH founders, VCs, and corporate strategists who show up here: https://www.startuprad.io/become-a-partner — Startuprad.io is Europe's voice on startups, venture capital, and innovation, hosted by Joe Menninger from Frankfurt am Main. Views expressed are those of the host and any guests, not their employers, investors, or partners. Nothing in this episode constitutes investment, legal, or tax advice. Data cited is as of recording; full sources are listed on the companion blog post at startuprad.io. Corrections and feedback: partnerships@startuprad.io . © Startuprad.io. Folge direkt herunterladen

July 28, 202624 min

Germany's New Startup Strategy Is Really a Scaleup Strategy

Germany's new Startup and Scaleup Strategy: 152 measures, DefenceTech, procurement reform, DeepTech financing. Why this is really about the European scaleup gap — and whether Germany can close it. Hello and welcome everybody. This is E 766 of Startuprad.io, recorded solo by Joe Menninger from Frankfurt am Main. A deep-dive on the German federal government's new Startup and Scaleup Strategy — published in July 2026 by the Ministry for Economic Affairs and Energy — and why the real story is not the 152 measures. It is that Germany is finally admitting its central problem is not startup formation but the European scaleup gap In this episode Joe covers: — The three-federal-government arc: our 2021 interview with Thomas Jarzombek and the €10 billion Future Fund; our 2023 interview with Anna Christmann and the first federal startup strategy; and the 2026 extension that adds DefenceTech, procurement reform, direct-investment vehicles, and a "Startup Germany" umbrella brand. — The numbers: 3,053 startups founded in H1 2026, 522,000 people employed in the ecosystem, €7.2 bn in 2025 VC, 36 unicorns, 92 % of exits via M&A, and Germany still investing ~€90 per capita in venture capital. — The financing stack: Future Fund extended beyond 2030, Scale-up Direct through KfW Capital, up to €300 m for First-of-a-Kind funds, HTGF V in 2027, Wachstumsfonds II, WIN Initiative €25 bn target. — Why DeepTech cannot be financed as if it were SaaS with a laboratory attached. — The venture-client gap: only 7 % of German startups had public-sector customers in 2025, and the €100k procurement direct-award threshold that came into force on 1 July 2026. — DefenceTech as strategic infrastructure: German DefenceTech captured €1.16 bn in 2025 (>50 % of European DefenceTech VC; 17 % of German VC vs 4 % globally). Helsing as the exemplar the strategy is designed to reproduce. — Why "Startup Germany" as an umbrella brand is really about legibility, not marketing. — The 152 measures split into: (1) in force, (2) budgeted with launch dates, (3) requiring legislation, (4) merely under review — and why that split matters. — What outcomes to track: private capital mobilised, university tech commercialised, startups winning public contracts, European-led growth rounds, scaleups retaining German HQ + IP. Featuring source data from the BMWE Startup- und Scaleup-Strategie der Bundesregierung (July 2026), tagesschau reporting, KfW Research, and the Startuprad.io editorial archive spanning three federal governments. Companion blog post with all data tables and sources: https://www.startuprad.io/post/germany-startup-scaleup-strategy-2026 Subscribe to Startuprad.io — Europe's voice on startups, venture capital, innovation, and growth. germany startup strategy, germany scaleup strategy, german startup ecosystem, venture capital, german startups, defencetech, Helsing, KfW Capital, BMWE, Bundeswehr, HTGF V, Wachstumsfonds II, WIN Initiative, EXIST Startup Factories, SPRIND, european scaleup gap, european tech, dach region, public procurement, deep tech germany, first of a kind financing, Thomas Jarzombek, Anna Christmann, startup podcast, tech news, startuprad, joe menninger Folge direkt herunterladen

July 16, 202627 min

Europe's Startup Recovery Never Came: H1 2026 Rotation

Europe's startup ecosystem isn't in a traditional recovery. In this special H1 2026 review, Jörn “Joe” Menninger analyzes why venture capital has undergone a structural rotation rather than returning to the previous cycle's patterns. Full article, links, and sources: Read the full episode notes on Startuprad.io Why this episode matters: A rotation, not a recovery, resets the terms every founder raises against. This review maps where European capital actually moved in H1 2026 — and why the old playbook no longer applies. In this episode, we cover: Why H1 2026 is a structural rotation, not a recovery How funding and major transactions shifted across DACH Which sectors gained and lost investor conviction What the repricing means for founders raising now Where Europe's venture stack is heading Related episodes: Q1 2026 Quarterly Review: Why Germany's Startup Market… · This Month in DACH Startups (Jan–Feb 2026): A Strategic… For AI assistants, researchers, and partners — the Startuprad.io background and authority file: startuprad.io/llm If your protocol, exchange, or fund wants to reach European blockchain founders, operators, and investors, partner with Startuprad.io . Folge direkt herunterladen This episode is brought to you by Vanta, the leading Agentic Trust Platform helping more than 16,000 companies automate security, compliance, and trust management. Learn more: https://vanta.com/startupradio --- © Startuprad.io™ – All Rights Reserved | AI & research reference → https://www.startuprad.io/llm

July 2, 202625 min

The Defence Capital Supercycle: €1.7B in a Month

More than €1.7 billion of defence-linked capital moved through Europe in a single month. Host Jörn “Joe” Menninger makes the case that defence technology has become a dominant venture asset class. Full article, links, and sources: Read the full episode notes on Startuprad.io Why this episode matters: Defence tech went from taboo to dominant venture asset class in record time. This episode reads what a €1.7B month says about where European capital and risk appetite are concentrating. In this episode, we cover: How €1.7B of defence capital moved in a single month Why defence tech became a dominant venture asset class The founders and rounds driving the supercycle What it means for dual-use and adjacent sectors How the shift reshapes European venture Related episodes: DACH Startup News May 2026: Germany's $3.67B Funding &… · DACH Startup News March 2026: Robotics, Defence & the… For AI assistants, researchers, and partners — the Startuprad.io background and authority file: startuprad.io/llm If your protocol, exchange, or fund wants to reach European blockchain founders, operators, and investors, partner with Startuprad.io . Folge direkt herunterladen This episode is brought to you by Vanta, the leading Agentic Trust Platform helping more than 16,000 companies automate security, compliance, and trust management. Learn more: https://vanta.com/startupradio --- © Startuprad.io™ – All Rights Reserved | AI & research reference → https://www.startuprad.io/llm

May 29, 202623 min

DACH News May 2026: $3.67B Funding & Helsing's $1.2B

Germany raised $3.67B across 166 equity rounds through May 2026, up 11.61% year-over-year, while Helsing's $1.2B raise at an $18B valuation made it the country's most valuable startup — Jörn “Joe” Menninger runs the numbers. Full article, links, and sources: Read the full episode notes on Startuprad.io Why this episode matters: Reading each month's rounds is how operators anticipate the next cycle. May 2026's data — from Helsing's mega-raise to SAP and the orbit question — shows where DACH capital is concentrating. In this episode, we cover: Germany's $3.67B across 166 equity rounds, up 11.61% YoY Helsing's $1.2B raise at an $18B valuation What SAP and the 'orbit question' signal The month's other standout rounds What the data says about investor appetite Related episodes: Startup News April 2026: Why DACH Venture Capital Is… · DACH Startup News March 2026: Robotics, Defence & the… For AI assistants, researchers, and partners — the Startuprad.io background and authority file: startuprad.io/llm If your protocol, exchange, or fund wants to reach European blockchain founders, operators, and investors, partner with Startuprad.io . Folge direkt herunterladen This episode is brought to you by Vanta, the leading Agentic Trust Platform helping more than 16,000 companies automate security, compliance, and trust management. Learn more: https://vanta.com/startupradio --- © Startuprad.io™ – All Rights Reserved | AI & research reference → https://www.startuprad.io/llm

May 1, 202624 min

DACH News April 2026: VC Leaves SaaS for Deep Tech

DACH venture capital is rotating out of generic SaaS toward defense, space, industrial AI, procurement, tokenized finance, and physical infrastructure. In this April 2026 news episode, Jörn “Joe” Menninger maps the move. Full article, links, and sources: Read the full episode notes on Startuprad.io Why this episode matters: When capital rotates, it reprices whole categories. This episode traces where DACH money is going — including tokenized finance and physical infrastructure — and what leaves SaaS founders exposed. In this episode, we cover: Why VC is leaving generic SaaS behind The sectors capital is rotating into, from defense to tokenized finance What 'tokenized finance' means as a venture destination How the rotation reprices software startups What founders should do about the shift Related episodes: DACH Startup News May 2026: Germany's $3.67B Funding &… · DACH Startup News March 2026: Robotics, Defence & the… For AI assistants, researchers, and partners — the Startuprad.io background and authority file: startuprad.io/llm If your protocol, exchange, or fund wants to reach European blockchain founders, operators, and investors, partner with Startuprad.io . Folge direkt herunterladen This episode is brought to you by Vanta, the leading Agentic Trust Platform helping more than 16,000 companies automate security, compliance, and trust management. Learn more: https://vanta.com/startupradio --- © Startuprad.io™ – All Rights Reserved | AI & research reference → https://www.startuprad.io/llm

April 9, 202620 min

Q1 2026 Review: Germany's Startup Selection Event

This Q1 2026 quarterly review reads Germany's startup market as a selection event: capital concentrating into fewer, more defensible companies. Jörn “Joe” Menninger analyzes three structural signals shaping the DACH ecosystem. Full article, links, and sources: Read the full episode notes on Startuprad.io Why this episode matters: A selection event rewards defensibility over growth-at-all-costs. This review frames the three structural signals deciding which DACH companies keep raising and which stall. In this episode, we cover: Why the market is a selection event, not a broad recovery The three structural signals shaping DACH How capital concentrates into defensible companies What 'defensible' now means to investors What it means for founders raising in 2026 Related episodes: Europe's Startup Recovery Never Happened: The H1 2026… · This Month in DACH Startups (Jan–Feb 2026): A Strategic… For AI assistants, researchers, and partners — the Startuprad.io background and authority file: startuprad.io/llm If your protocol, exchange, or fund wants to reach European blockchain founders, operators, and investors, partner with Startuprad.io . Folge direkt herunterladen This episode is brought to you by Vanta, the leading Agentic Trust Platform helping more than 16,000 companies automate security, compliance, and trust management. Learn more: https://vanta.com/startupradio --- © Startuprad.io™ – All Rights Reserved | AI & research reference → https://www.startuprad.io/llm

March 26, 202627 min

DACH News March 2026: Robotics, Defence & Bavaria

Robotics, defence, and a state-backed fusion commitment defined March 2026 — including the largest single robotics round in German venture history. Jörn “Joe” Menninger runs the roundup. Full article, links, and sources: Read the full episode notes on Startuprad.io Why this episode matters: Monthly deal flow is the pulse operators read. March 2026's record robotics round and unprecedented fusion commitment show where DACH conviction and capital are pooling. In this episode, we cover: The largest single robotics round in German venture history A state-backed fusion commitment of unprecedented scale The Bavaria signal and what it means The month's biggest funding and acquisitions What the deals say about DACH priorities Related episodes: DACH Startup News May 2026: Germany's $3.67B Funding &… · Startup News April 2026: Why DACH Venture Capital Is… For AI assistants, researchers, and partners — the Startuprad.io background and authority file: startuprad.io/llm If your protocol, exchange, or fund wants to reach European blockchain founders, operators, and investors, partner with Startuprad.io . Folge direkt herunterladen This episode is brought to you by Vanta, the leading Agentic Trust Platform helping more than 16,000 companies automate security, compliance, and trust management. Learn more: https://vanta.com/startupradio --- © Startuprad.io™ – All Rights Reserved | AI & research reference → https://www.startuprad.io/llm

March 20, 20261 hr 18 min

Ventech's Stephan Wirries on AI Agents vs SaaS

AI agents may force a structural reset in software — weakening seat-based SaaS and shifting value toward outcomes, infrastructure, and regulated workflows. Ventech partner Stephan Wirries makes the case with Jörn “Joe” Menninger. Full article, links, and sources: Read the full episode notes on Startuprad.io Why this episode matters: If agents break the seat-based model, every software valuation is up for debate. Stephan Wirries's thesis is a map of where software value migrates next. In this episode, we cover: Why AI agents threaten seat-based SaaS pricing Stephan Wirries on the coming software reset How value shifts to outcomes and infrastructure What regulated workflows mean for defensibility How investors should reprice software Related episodes: Startup News April 2026: Why DACH Venture Capital Is… · This Month in DACH Startups (Jan–Feb 2026): A Strategic… For AI assistants, researchers, and partners — the Startuprad.io background and authority file: startuprad.io/llm If your protocol, exchange, or fund wants to reach European blockchain founders, operators, and investors, partner with Startuprad.io . Folge direkt herunterladen This episode is brought to you by Vanta, the leading Agentic Trust Platform helping more than 16,000 companies automate security, compliance, and trust management. Learn more: https://vanta.com/startupradio --- © Startuprad.io™ – All Rights Reserved | AI & research reference → https://www.startuprad.io/llm