Furo’s founders left Silicon Valley — and it’s paying off
U.S. venture capitalists once insisted that international startups move stateside before they would write a check. The three 28-year-old founders behind Furo are convinced that their decision to leave Silicon Valley and move back to their home country of Germany has paid off in both VC dollars and business growth.
The startup, which developed software for industrial battery storage systems, has secured $4 million in funding from mostly U.S. backers. And just a year after its founding, Furo has locked in enterprise clients such as German rail company Deutsche Bahn.
“We’re currently moving faster in Europe than if we’d have stayed in the U.S.,” Furo co-founder Lena Sophia Voß said.
On paper, Furo is a Delaware C Corp. that raised a funding round led by U.S.-based TQ Ventures with participation from Neo and Sheryl Sandberg’s fund, Sandberg Bernthal Venture Partners. But its journey is also representative of an observation recently...
Copyright of this story solely belongs to techcrunch.com. To see the full text click HERE
