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SAP.iO’s ecosystem of successful raises and exits

Summer 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!


Synspective, a Tokyo based SAR satellite constellation & One-stop Geo-solutions company, closed a $35.4M round.

Sedna, a London-based email platform that caters to customers in the bulk cargo, maritime and logistics markets, has landed a $42 million funding round it says will enable the company to further help customers integrate their email inboxes with existing systems of record. The company said the funding, which brings the total amount of venture capital invested in Sedna to $86 million, will go primarily toward enhancing its product., a Singapore-based AI-powered chatbot for recruiters, has recently secured a $6M Series A round. The new funds will be used for expansion across Southeast Asian markets. According to, it has users in Singapore, Indonesia, Hong Kong, Taiwan, the US, and the UK.

ChargeX, a German EV charging firm, closed a $12.5M Series B round. With the fresh funding ChargeX makes plans to expand to other European markets and also bring ‘bi-directional charging with local power connections using vehicle batteries’ into the fold


Magazino was acquired by Jungheinrich, a Hamburg-based intralogistics company. Jungheinrich has had shares in Magazino since 2020, and in 2022 it increased its ownership to 21.7%. The new deal, to acquire all shares of the company, took effect immediately upon signing earlier this week. Both parties have agreed to not disclose the purchase price.