According to the global startup ecosystem report for 2024, while there are general funding concerns and a slowdown of large exits, generative AI startups have seen an impressive surge in growth since the recent introduction of ChatGPT.
Tech entrepreneur Matthias Tepel is using his experience in building a tech unicorn to change how we interact with software with his new venture, Telepathic. Riding the wave of a booming generative AI startup ecosystem, which saw 18% of global venture capital funding in 2023 alone, Tepel’s company aims to redefine how people interact with software. With a strong track record in scaling businesses and a keen eye for innovation, Matthias is ready to make a significant impact on the industry.
Where Startups Falter
Many startups suffer from a lack of industry knowledge and funding, and poor marketing strategies and cash-flow management are other common problems. Funding is essential to startups, but spending it in the wrong places can be an easy mistake for new businesses.
Matthias’ Early Interest in Entrepreneurship
Even as a high-schooler, Matthias was taking steps toward entrepreneurship. During those early days, he would resell items ranging from industrial computers to computer games for a profit, which he invested into new ventures.
Matthias began his career journey by studying electrical engineering in Germany, followed by studying industrial engineering at Cambridge. This was followed by his first job in management consulting before he moved into venture capital with Rocket Internet. There, he gained valuable insight into how to run a business and where to focus resources.
Innovating and Growing at Tier Mobility
Matthias then went on to play a key role in Tier Mobility, a micro-mobility company that focuses on sustainable urban transportation, which he helped grow from the ground up to where it is today. From a small team to a multi-billion dollar enterprise, Matthias oversaw marketing, sales, commercial growth, strategy, and M&A.
“One project I am particularly proud of from my early days at Tier involved recognizing the critical importance of our scooters to the company’s success,” Matthias recalls. “Acting on my own initiative, I flew to China to source a more robust and durable scooter model. I initiated and led discussions with manufacturers, which resulted in the company purchasing new vehicles worth several million dollars… I take great pride in seeing these scooters in the real world, knowing I played a crucial role in their implementation and the company’s growth.”
How Matthias Scales Businesses
Matthias excels when it comes to scaling tech companies and developing tech unicorns. When working with a tech startup, he knows it is essential to operate at speed to successfully transition from a nascent startup to a scaling company. During his time at Tier Mobility, he played a key role in growing the company from a zero to a $2.5 billion valuation through hard work and carefully placed investment. Matthias highlights his ability to look at businesses holistically, identify the biggest pain points, and develop effective solutions for his business success.
Adaptation is another one of Matthias’ key skills. As with many businesses, the onset of COVID-19 was a significant challenge for Tier Mobility, which experienced an 80% drop in revenue overnight due to the pandemic. Operating at a loss, Matthias needed to keep the business afloat, so he organized daily meetings to implement cost-saving measures and narrow strategies, demonstrating the power of focus and strategic alignment.
“Despite the crisis,” recalls Matthias, “we emerged as the industry leader a few months later and successfully raised a significant funding round from SoftBank. This period demonstrated the importance of focus and adaptability.”
Matthias’ Experience Beyond Rocket Internet and Tier Mobility
Matthias constantly strives for excellence. At Tier Mobility, he worked his way up from an early employee to a C-level executive, overseeing a team of 100 and making key business decisions for the company. As an angel investor in the broader tech space, Matthias has invested in startups across France, Germany, and the UK. He serves as an advisor at Entrepreneur First, a global community empowering talented individuals to co-found groundbreaking technology companies, providing them with investment, mentorship, and a platform to turn their ambitions into reality, and several other exciting startups, sharing his expertise in strategy, fundraising, and company scaling.
Something New to Scale
Matthias’ latest venture is Telepathic, which he co-founded with Killian Dunne after they were both inspired by a shared belief in how software interfaces will evolve. “My plan is to build a US-based software company, Telepathic Software Inc., which focuses on innovating how people interact with software. I believe recent advancements in AI offer significant opportunities for operational efficiency. By leveraging these advancements, I believe we can redefine software interaction.”
Matthias’ Future in AI
Matthias Tepel’s journey from a young entrepreneur to a seasoned industry leader demonstrates his business insights. Benefitting from his experience in scaling tech companies, he is now focused on transforming software interaction with Telepathic. As the AI sector continues to grow, Tepel’s venture is well-positioned to make a huge impact.
Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.
