Sky today announce plans to increase the reach and scale of its startup investment and commercial partnership activity with the opening of a new office in Berlin as well as a $4 million commitment to Israeli venture capital fund, Remagine Ventures.
The office will give Sky a local presence in Berlin’s ever growing startup eco-system, enabling the team to better build relationships with investors in the region and to find the most promising entrepreneurs to invest in and partner with. In addition, the team’s remit will extend to scouting for the most relevant companies across Germany and also the Nordics.
Remagine Ventures, a newly launched fund based in Tel Aviv, is managed by Kevin Baxpehler (former investor at ProSiebenSat1.Media) and Eze Vidra (former Partner at Google Ventures Europe). The VC fund will specifically focus on technology startups within tech, entertainment, data and commerce. Partnering with Remagine will give Sky more access into Israel’s dynamic and fast growing technology companies, which includes a strong pool of talent in computer vision and machine learning.
Sky invests in companies to accelerate innovation, identify growth and achieve cost efficiencies through the adoption of new operating models. Having first established its startup focused team out of London in 2012, Sky subsequently opened a San Francisco office in 2014. Sky has invested in over 20 companies over the period across the US, UK and France, including investments in Roku, 1Mainstream, Elemental, The Rights Xchange and Drone Racing League. This next leg of growth will expand Sky’s access to the most relevant and exciting startups from across Central Europe, Northern Europe and Israel.
Emma Lloyd, Group Director of Business Development and Partnerships at Sky comments: “Six years on from our first investment, we’re expanding our startup activity across Europe and Israel. Spending time in both Berlin and Tel Aviv has left us hugely impressed with the energy, dynamism and talent of both tech scenes. This is an exciting new chapter for us and we can’t wait to get started and uncover new, innovative startups across the regions and beyond.”
Carsten Schmidt, CEO of Sky Deutschland comments: “I’m very pleased to be expanding Sky’s activity with the establishment of a new Berlin base for our venture activity. I continue to be impressed by the strength of tech talent in Berlin, and ever growing pool of startups bringing new and innovative ideas to the German market and beyond. I look forward to us establishing more partnerships with early stage companies by setting up our Berlin based office this year.”
Sky is Europe's leading entertainment company, serving 23 million customers across seven countries - UK, Ireland, Germany, Austria, Italy, Spain and Switzerland. The company has annual revenues of £12.9 billion and is Europe’s leading investor in television content with an annual programming spend of £7 billion.
From exclusive partnerships with HBO, Showtime and Warner Bros. to Sky Original Productions, Sky offers the best and broadest range of content along with the best viewing experience to suit each and every customer. Whether that’s through the multi-award winning next generation box, Sky Q, or Sky’s contract-free online streaming service, NOW TV, customers have access to the latest movies, drama, sports and kids entertainment wherever and whenever they like. This is all supported by Sky’s best in class customer service.
Sky’s success is not just based on what the company does but how it does it. Named as one of the Top 10 Green Companies in the World by Newsweek, one of the world’s most recognised rankings of business’s environmental performance, Sky ensures its responsible business strategy is embedded right across the group.
Three new major commitments have been launched for Sky’s corporate campaign Sky Ocean Rescue; the reduction of our own single-use plastics by 2020; an investment fund of £25 million over five years in technology solutions; and support of marine protected areas across our markets.
Sky has over 31,000 employees and is listed as one of The Times Top 50 employers for women. Sky is listed on the London Stock Exchange (SKY).
About Remagine Ventures
Remagine Ventures is a venture capital fund focused on technology investments at the intersection of entertainment, commerce & data, and is backed by some of the leading corporates in the media industry.
The fund invests in early-stage startups, helps them refine product-market fit and accelerates time-to-market.
Remagine Ventures covers the full spectrum of opportunity within the Israeli market – from nascent technologies to later-stage opportunities to facilitating commercial relationships between startups and its investors.