Techstars is a global startup accelerator that helps entrepreneurs succeed. It lets founders connect with experts, entrepreneurs, investors, mentors, community leaders, corporations and alumni grow their companies.
Raises €38M investment
Just now, Techstarts has received $42 million (nearly €72 million) investment from SVB Financial Group, the holding company of Silicon Valley Bank along with participation from Foundry Group. The startup accelerator is planning to double its international growth with the latest investment.
Growth plans
The fresh investment will be used to grow Techstars Studio, which helps build and launch its own companies, Techstars Ecosystem Development, which helps communities grow startup economies and Techstars Talent, where startup roles are listed.
Will help more entrepreneurs
This latest round of funding will help accelerate the growth of Techstars so that it can help more entrepreneurs succeed through global startup ecosystem activations, seed-stage accelerators, entrepreneur-focused events and corporate innovation.
Here are 5 important facts to know about the global startup accelerator.
Techstars alumni
Techstars accelerator alumni including Classpass, DataRobot, DigitalOcean, Outreach, Pillpack, Remitly, SalesLoft, SendGrid, and Zipline have a current market cap of more than $22 billion. Founded in 2006 by co-founders and co-CEOs David Cohen and David Brown, tech entrepreneur and venture capitalist Brad Feld, and the current Governor of Colorado, Jared Polis,
Farm to Fork accelerator program
Last year, Techstars launched the Farm to Fork accelerator program that works with early- and late-stage startups across industries such as waste reduction, manufacturing and agri tech. The alumni of this accelerator include Big Wheelbarrow, Spoonshot and Renewal Mill.
Techstars consists of an investment management business with $500 million (nearly €450 million) in assets under management. Also, it has an operating business that is approaching $100 (nearly €90 million) million annual revenue.
Invests in global emerging startup communities
Headquartered in Boulder, Colorado, Techstars employs more than 280 people across 20 countries. Techstars’ investment activity now includes 49 accelerator programs in 35 cities across 16 countries, deploying $80 million into nearly 500 startups on an annual basis. The Techstars portfolio of 1,900 companies currently attracts an annual $2 billion in downstream investment from the venture capital industry. Techstars also invests in global emerging startup communities by operating approximately 1,000 annual Techstars Startup Weekend events in 600 cities across 120 countries to help surface and support future high growth companies.
Partnership with BSH
Techstars partnered with BSH for BSH Future Home Accelerator, which finds innovative appliance makers and connected kitchen companies. Its VC arm backs food-focused companies including meal kit company Plated and smart water cooler brand Bevi. Though there is no word regarding any food tech companies, for now, it looks like Techstars will back some new food tech startups in the near future.
Corporate innovation solutions
Techstars partners with nearly 100 corporations to provide corporate innovation solutions. Techstars is also an active partner with cities such as Buffalo (NY), Louisville (KY), and Turin (Italy) to further develop their startup communities.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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