Furo's founders left Silicon Valley — and it's paying off

The three 28-year-old founders behind energy startup Furo have secured $4 million in funding from mostly U.S. backers, despite leaving Silicon Valley and moving back to their home country of Germany. The startup, which developed software for industrial battery storage systems, has locked in enterprise clients such as German rail company Deutsche Bahn. Furo co-founder Lena Sophia Voüss stated that the decision to leave Silicon Valley and move back to Germany has paid off in terms of VC dollars and business growth. According to Voüss, Furo is currently moving faster in Europe than if it had stayed in the U.S. The startup's journey is representative of an observation recently shared by VC firm a16z that having one foot in your home country and one foot in Silicon Valley can be advantageous. Furo's bridge to Silicon Valley was Munich's Center for Digital Technology and Management (CDTM), which also participated in its funding round. The trio made it to the Bay Area, where they studied at Stanford and UC Berkeley, before deciding to start Furo with the ambition of helping industrial companies reduce their electricity costs. Voüss stated that the problem was more pressing in Europe, particularly in Germany, where the country experienced multiple energy crises over the last five years. Furo could have addressed this market from the U.S., but Voüss said being far from Germany made their work more difficult. The decision to leave was a deliberate move, as the trio had full-time offers from companies such as Apple, Google X, and AI startups, and could have stayed with visas. Starting Furo out of Munich was highly beneficial for its growth, with a lot of people in the network recommending it to customers, as well as operational expertise and mentorship. Furo's U.S. investors wondered whether it would be able to source talent for the amount it had budgeted, which was actually at the top end for salaries in Germany. Voüss stated that the quality of talent is on par, while workers are more accessible due to less competition with Big Tech and the CDTM ties. Salary is just one aspect, though, and Voüss said it's better to do more with the money. The quality of talent is also on par, and workers are more accessible due to the great network in Germany and Europe.