Edda Customer Deep Dive: Chemovator
We sat down with Ricarda Schulte, Portfolio Manager at Chemovator to learn more about how Edda has helped Chemovator’s growth.
Chemovator stands as an innovation powerhouse within the realm of chemicals, operating under the prestigious banner of BASF, acting as an early-stage or pre-seed investor.
Location:
Germany
Investment focus:
Early-stage & Pre-seed
Company type:
Incubator
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Designed as a dynamic catalyst for entrepreneurial ventures, Chemovator is a breeding ground for visionary startups and intrapreneurs, channelling their ideas into transformative businesses that redefine the chemical landscape.
€2.4million
Series A funding for 1000 Satellites
200+
Opportunities
5
Spin-offs
17
Employees’ nationalities
“We began as an intrapreneurship program; these are predominantly ideas that go beyond the current structures and the BASF portfolio. Typically, these ideas revolve around digitalisation. We also encompass a substantial amount of deep tech and sustainability-related subjects."
Ricarda Schulte - Portfolio Manager - Chemovator
Chemovator's Evolve Program serves as a springboard for budding startups and novel ideas in the chemical industry. Tailored for early-stage ventures, it offers financial support, mentorship from industry experts, and essential connections.
On the other hand, the Elevate Program accelerates the growth and reach of established startups and projects. With financial backing, targeted mentorship, and crucial partnerships, this program propels ventures toward scaling up and maximising their influence
Pharmaceuticals
Packaging & Print
Pulp & Paper
“We use Edda on a day-to-day basis.
It’s a life saver for our deal flow.”
Managing Deal Flow
“There are so many teams we must look at. Now we have more than 150 pitch decks for the external deal flow which launched a couple of months ago. It’s great to have a centric point of information. With Edda, we were able to set up our deal flow within minutes.”
Portfolio Management
“For Chemovator, Evolve, and Elevate, we use Edda mainly for deal flow, but now we have a growing number of investments, so the portfolio part has also become increasingly important.”
“What sets it apart from other tools is that there are an unbelievable number of KPI’s which we could choose from, which is then also combined with the possibility to customise. This is this is how we could really fit those KPIs and the structures to meet our needs.”
Finally, we wanted to get Ricarda’s insights
into the future of the VC landscape…
“My mind wonders towards a significant topic such as sustainability, as it’s in every idea we look at - especially when you consider chemistry’s role, which is present in nearly every product. When we look around us, I know that 90% of the products have some form of chemistry in them, and understanding the impact that those sustainability topics can have is crucial. Out of 150 pitch decks that we have looked at, this serves as a strong motivator in early stages - it’s great to see sustainability as a necessity.
Every startup we look at has an ESG angle, as it’s the biggest topic in our industry right now. Everyone is searching for solutions, and this is the most pressing thing. Investors should focus on ESG when investing into companies.”
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