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SAP.iO’s ecosystem of successful raises and exits

March 2023

SAP.iO has curated over 525 startups in SAP’s startup ecosystem. We’re proud that many of the startups from our programs continue to raise VC funding and have successful exits. This demonstrates that SAP startup technologies are addressing the rapidly changing requirements of the marketplace and have risen to the occasion of meeting customer needs. Here are the latest raises and exits you should know about!


Hexa, a 3D asset visualization and management platform, announced that it closed a $20.5 million Series A round from Point72 Ventures, Samurai Incubate, Sarona Partners and HTC. CEO and co-founder Yehiel Atias said that the cash will be put toward product development and expanded customer acquisition efforts well into 2023.

Zeroboard Inc., a Tokyo-based developer and provider of a cloud-based calculation and visualization service for greenhouse gas (GHG) emissions, announced that it has completed financing through a third-party placement of new shares as part of its Series A financing, the first and the second tranche completed financing totaling 2.44 billion yen ($18.4 million).

Verity AG, creators of the first commercially successful inventory tracking solution powered by fully autonomous indoor drones, announced completion of a 30M CHF ($32M USD) Series B funding round. The investment was led by A.P. Moller Holding with participation from Exor Ventures and existing and new investors. This funding allows Verity to quickly scale up operations to address the growing backlog of deployments with systems already installed in 30 sites across 13 countries on 3 continents.

Vue Storefront, which is building what it describes as “frontend as a service,” has closed a $20 million round, which it plans to use for R&D, to bring on more tools targeting B2B e-commerce businesses, and for business development after seeing revenues grow 300% in the last 18 months. It has some 2,000 customers, retailers and merchants, and is seeing quite a bit of growth at the moment in the U.S.

Connect Earth has closed a $5.6 million seed round to grow its API-first environmental data offering that drives sustainable finance. The funding round will enable the company to scale faster within Europe and support expansion into the US, where they already work with financial institutions and strategic partners.

nyris, a leading visual search provider, announced that it has raised 10 million EUR in a funding round led by Trumpf Venture and the European Innovation Council (EIC). Existing investors eCAPITAL, Inter IKEA Group, SEK and Mücke & Roth are equally excited about the company and participated in this financing round. The funding will be used to accelerate the adoption of visual search with new generative image data services.


apexanalytix, a leading provider of global supply chain risk management data, software and services, and ESG Enterprise, a provider of environmental, social and governance (ESG) management data, software and services, announced that apex has acquired ESG Enterprise. This transaction is the latest milestone in the growth of apex, which received a majority investment from funds managed by KKR. Carousel Capital also continues to be a minority investor in apex.

Andela, the global network for remote technical talent, has acquired Qualified, the leading technical skills assessment platform to identify, qualify, and certify top engineers. Andela’s global talent community will also expand with the addition of more than 3.6M engineering users via Codewars, an online community powered by Qualified that enables technical talent to compete and improve their practical coding skills in gamified challenges.