The flying taxi startup Lilium secured first place among the top 10 startups, overtaking Berlin-based direct bank N26, last year's number one. The Munich-based company is not only popular on LinkedIn, but also with investors. In March, they received an investment of 240 million US dollars, which they will be adding in June 35 million US dollars The money will be used for the further development of the all-electric, vertical takeoff and landing air taxi aircraft, as well as for preparatory work for series production at Lilium's newly completed production facility.
Personio, the Munich-based software provider for HR management and recruiting, moved up from fifth to third place. This startup was also successful in raising funding at the beginning of the year: In its Series C financing round, which closed in January, Personio raised 75 million US dollars And at the beginning of the Corona crisis, the startup made a name for itself with a free home office tracking solution for companies with 10 to 2,000 employees.
With Yfood, a third Munich-based company entered the top 10 startups, jumping from a standing start to fourth place. In March, the startup not only donated to medical personnel during the peak of coronavirus infections free drinking meals, but raised in April with its Series B 15 million euros fresh capital.
"For a long time, people first thought of Berlin when they heard 'Germany' and 'startup.' But this year, three startups from Bavaria are taking the lead. Lilium, Personio, and YFood Labs, which top our list, come from the Free State. Talented individuals looking for exciting challenges with innovative employers don't necessarily have to look toward Berlin,"
explained Sara Weber, Editor-in-Chief DACH and Benelux at Linkedin.
About the ranking of the top 10 startups
To rank the top 10 startups, LinkedIn considered four factors: employment growth, engagement, interest in job openings, and attraction to top candidates. Employment growth was measured as a percentage increase in staff during the survey period and had to be at least 15 percent. Engagement was measured by how many non-employees viewed and followed the startup's LinkedIn page and how many non-employees visited the profiles of employees. Interest in job openings was measured by views of job postings (both paid and free) and applications for the company's job openings. And attraction to top candidates was measured by how many employees the startup acquired and hired from companies on the LinkedIn Top Companies list. The survey was conducted between January 1, 2020, and July 31, 2020.
