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Bavaria is quickly becoming a popular destination for startups, with Munich overtaking Berlin in terms of the number of startups per capita. Last year, Personio and Celonis raised $200m and $1bn respectively, making them Germany’s first decacorn and unicorn respectively. Bavaria is known for its B2B and industry-oriented startups, and is home to international giants such as Allianz, BMW, Audi and Siemens.
