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This article was published on September 17, 2020

Wolt voted Europe’s hottest startup in Tech5’s 2020 competition

Wolt voted Europe’s hottest startup in Tech5’s 2020 competition
Suchi Rudra
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Suchi Rudra

It’s official – Wolt, the Helsinki-based technology company that’s known for its food delivery platform, has clinched the title of 2020’s “most promising startup” from all of Europe in the 7th edition of the Tech5 startup competition. TIER took second place, while Cowboy came in third. The winners were chosen by a panel of investors, influencers, and experts, who judged the entrants based on notable investment rounds, social impact, team growth and media buzz.

From climate-conscious food delivery to accessible, hi-tech transport to a smart e-bike, here’s what you should know about these three promising tech companies that are helping to transform our lives — and fighting for the health of our planet.

Wolt: Climate-conscious food delivery

Wolt helps customers fulfill their hunger cravings anytime, anywhere with an easy-to-use app for convenient food delivery to homes or offices. Currently, the company’s platform consists of over 15,000 restaurants that span 90 cities in 23 countries.

In 2019, Wolt started to compensate for the Co2 emissions its deliveries create. This includes the emissions from all past deliveries, dating back to 2015. To compensate for the emissions, Wolt has partnered with South Pole to purchase carbon credits — used to fund reforestation and forest conservation projects in South America — to offset past and future deliveries.

Wolt CEO and co-founder Miki Kuusi says: “It’s an honor to be awarded as the Tech5 Most Promising Startup, as there are so many promising technology companies coming from Europe. I’m especially moved to see our Co2 compensation program was part of the winning criteria. Climate change is the biggest threat that humanity is facing, and we want to play our part in protecting the climate. We can still do more, but this is a start.”

TIER: Meaningful mobility for all

In second place, TIER is creating affordable, accessible, and sustainable urban transport with its innovative e-scooters and e-mopeds. Currently, customers in over 70 cities across nine countries can use the app to locate and book a ride on one of TIER’s more than 50,000 electric vehicles. In January 2020, less than two years after its launch, the Berlin-based TIER became the world’s first micro-mobility company to achieve a certified climate-neutral status.

Cowboy: Smart e-bikes for the future

Belgian startup Cowboy took third place with its connected electric bike designed for city dwellers. The company, which recently raised 23 million euro in a Series B funding, aims to “reinvent urban mobility leveraging a clean, safe and healthy means of transportation .” Indeed, everything about Cowboy’s smart e-bike is forward-thinking and sleek, from its integrated lights to its removable battery that snaps right into place, to its carbon belt transmission that replaces the typical greasy bike chain. It even connects to an app through which its riders can access a whole range of features and services — such as the recently introduced crash detection or its on demand repair and maintenance service called Cowboy Mobile service, both industry firsts.

Seventh edition of Tech5

This year marks the seventh edition of Tech5, which has been a launchpad for companies such as Transferwise, Delivery Hero, Cabify, and Foodpanda. The Tech5 community is the result of a collaborative effort between Adyen and TNW, bringing together the two brands’ shared passion for tech. Tech5 is a showcase for Europe’s 100 top tech scale-ups based on performance, growth and potential. Each year, the exclusive Tech5 platform allows the selected startups a chance to network and to enter a competition for “hottest startup” in all of Europe.

“Every year the Tech5 competition gets harder and harder, and this year’s level definitely exceeded our expectations. European businesses truly embrace innovation and creativity now more than ever, and we are happy to give these companies a platform to meet like-minded entrepreneurs. We are very proud to have Wolt as one of our merchants, and we look forward to working with the company in the future, disrupting the food delivery industry together,” says Roelant Prins, Chief Commercial Officer of Adyen.

Here you can find the full overview of the country winners of this year’s Tech5 2020:

Refurbed (Austria), Cowboy (Belgium), Neuron Soundware (Czech Republic), Dixa (Denmark), eAgronom (Estonia), Wolt (Finland), Stuart (France), Tier Mobility (Germany), Codecool (Hungary), Urban Volt (Ireland), Milkman (Italy), Ziticity (Lithuania), SwapFiets (The Netherlands), CHOOOSE (Norway), Tylko (Poland), Defined Crowd (Portugal), Jeff (Spain), Cellink (Sweden), Ava (Switzerland), and Starling Bank (UK).

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