Document:

Exhibit 10.11

 

THE SECURITIES DESCRIBED HEREIN HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. THERE ARE FURTHER
RESTRICTIONS ON THE TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN.

 

THE PURCHASE OF THE SECURITIES INVOLVES
A HIGH DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT.

 

FIRST AMENDMENT TO SUBSCRIPTION AGREEMENT

 

This first amendment (the “Amendment”)
to that certain Subscription Agreement (the “Agreement”) entered into on February 1, 2021 by and among Crown
PropTech Acquisitions, a Cayman Islands exempted company (the “Company”), Crown PropTech Sponsor, LLC, a Delaware
limited liability company (the “Sponsor”) and BlackRock Capital Allocation Trust (the “Purchaser”)
is made of February 10, 2021 pursuant to Section 7(l) of the Agreement. Capitalized terms that are used herein, except as otherwise
defined herein, shall have the meanings ascribed to them in the Agreement. In consideration of the premises, representations, warranties
and the mutual covenants contained in the Agreement and this Amendment, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

1.            Amendment.

 

(a)       Schedule
A of the Agreement is hereby amended and restated as set forth on Exhibit A.

 

2.            General
Provisions.

 

(a)        Counterparts. 
This Amendment may be executed in two or more counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.

 

(b)       Headings. 
The section headings contained in this Amendment are inserted for convenience only and will not affect in any way the meaning or
interpretation of this Amendment.

 

(c)       Governing
Law; Jurisdiction, WAIVER of JURY TRIAL.  The provisions of Sections 7(i) (Governing Law), 7(j) (Jurisdiction) and 7(k)
(Waiver of Jury Trial) of the Agreement shall apply to this Amendment, mutatis mutandis, and are incorporated herein by
reference with binding effect among the parties in respect of this Amendment as if fully set forth herein.

 

(d)       Effect
of Amendment. Except as amended as set forth in this Amendment, the Agreement shall continue in full force and effect. Nothing
in this Amendment shall be construed to modify any provision of the Agreement other than those specifically amended as set forth
in this Amendment. On or after the date hereof, any reference to the Agreement shall constitute a reference to the Agreement as
amended by this Amendment.

 

[Signature page follows]

 

    1

    

    

IN WITNESS WHEREOF, the undersigned
have executed this Amendment to be effective as of the date first set forth above.

 

	COMPANY:	 
	 	 
	CROWN PROPTECH ACQUISITIONS	 
	 	 
	 	 
	By:	/s/
    Richard Chera	 
	Name:  Richard Chera	 
	Title:    Chief
    Executive Officer	 
	 	 
	SPONSOR:	 
	 	 
	CROWN PROPTECH SPONSOR, LLC 	 
	 	 
	 	 	 
	By:	 /s/
    Richard Chera	 
	Name:  Richard Chera	 
	Title:    Member 
	 

	 

    [Signature Page to First Amendment to Subscription Agreement]

    

    

	 	
        PURCHASER:

        
	 
	 	 	 
	 	
        BlackRock Capital
        Allocation Trust

         

        By: BlackRock Advisors, LLC, as Investment Adviser

        
	 
	 		 
	 	 /s/ Henry Brennan	 
	 	Name: Henry Brennan 	 
	 	Title:  Authorized Signatory	 

 

	 	
        Purchaser’s Address for Notices:

        
	 
	 	 	 
	 	
        c/o BlackRock Financial Management, Inc.

        55 East 52nd Street

        New York, NY 10055

        Attn: 

         

        with copies to:

         

        c/o BlackRock, Inc.

        

        Office of the General Counsel

        

        40 East 52nd Street, New York, NY 10022

        

        Attn: David Maryles and Reid Fitzgerald

        

        Email: legaltransactions@blackrock.com

         

        And

         

        Kramer Levin Naftalis & Frankel LLP

        

        1177 Avenue of the Americas

        

        New York, NY 10036

        

        Attn: Christopher S. Auguste

        

        Email: cauguste@kramerlevin.com

        
	 

         

    [Signature Page to First Amendment to Subscription Agreement]

    

    

Schedule A

 

	 	 	Number of

Subscribed Securities	 	 	Initial Purchase Price	 
	Founder Shares	 	51,000	 	$	187.78	 
	Private Placement Warrants	 	67,020	 	$	100,530.00	 

 

*In the event that the Over-allotment Option is exercised, the
Purchaser agrees to purchase up to an additional $10,650.00 of Private Placement Warrants at a price of $1.50 per warrant (or up
to 7,100 Private Placement Warrants), in the same proportion as the amount of the over-allotment option that is exercised. In the
event that there is an Over-allotment Adjustment, the Purchaser agrees to surrender up to 15% of the Purchaser’s Founder
Shares for no consideration.Exhibit 10.12

 

THE SECURITIES DESCRIBED HEREIN HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. THERE ARE FURTHER
RESTRICTIONS ON THE TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN.

 

THE PURCHASE OF THE SECURITIES INVOLVES
A HIGH DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT.

 

FIRST AMENDMENT TO SUBSCRIPTION AGREEMENT

 

This first amendment (the “Amendment”)
to that certain Subscription Agreement (the “Agreement”) entered into on February 1, 2021 by and among Crown
PropTech Acquisitions, a Cayman Islands exempted company (the “Company”), Crown PropTech Sponsor, LLC, a Delaware
limited liability company (the “Sponsor”) and BlackRock Global Allocation Portfolio of BlackRock Series Fund,
Inc. (the “Purchaser”) is made of February 10, 2021 pursuant to Section 7(l) of the Agreement. Capitalized terms
that are used herein, except as otherwise defined herein, shall have the meanings ascribed to them in the Agreement. In consideration
of the premises, representations, warranties and the mutual covenants contained in the Agreement and this Amendment, and for other
good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:

 

1.            Amendment.

 

(a)       Schedule
A of the Agreement is hereby amended and restated as set forth on Exhibit A.

 

2.            General
Provisions.

 

(a)        Counterparts. 
This Amendment may be executed in two or more counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.

 

(b)       Headings. 
The section headings contained in this Amendment are inserted for convenience only and will not affect in any way the meaning or
interpretation of this Amendment.

 

(c)       Governing
Law; Jurisdiction, WAIVER of JURY TRIAL.  The provisions of Sections 7(i) (Governing Law), 7(j) (Jurisdiction) and 7(k)
(Waiver of Jury Trial) of the Agreement shall apply to this Amendment, mutatis mutandis, and are incorporated herein by
reference with binding effect among the parties in respect of this Amendment as if fully set forth herein.

 

(d)       Effect
of Amendment. Except as amended as set forth in this Amendment, the Agreement shall continue in full force and effect. Nothing
in this Amendment shall be construed to modify any provision of the Agreement other than those specifically amended as set forth
in this Amendment. On or after the date hereof, any reference to the Agreement shall constitute a reference to the Agreement as
amended by this Amendment.

 

[Signature page follows]

 

    1

    

    

IN WITNESS WHEREOF, the undersigned
have executed this Amendment to be effective as of the date first set forth above.

 

	COMPANY:	 
	 	 
	CROWN PROPTECH ACQUISITIONS	 
	 	 
	 	 
	By:	/s/
    Richard Chera	 
	Name:  Richard Chera	 
	Title:    Chief
    Executive Officer	 
	 	 
	SPONSOR:	 
	 	 
	CROWN PROPTECH SPONSOR, LLC 	 
	 	 
	 	 	 
	By:	 /s/
    Richard Chera	 
	Name:  Richard Chera	 
	Title:    Member 
	 

	 

 

    [Signature Page to First Amendment to Subscription Agreement]

    

    

 

	 	
        PURCHASER:

        
	 
	 	 	 
	 	
        BlackRock Global
        Allocation Portfolio of BlackRock Series Fund, Inc.

         

        By: BlackRock Advisors, LLC, as Investment Adviser

        
	 
	 		 
	 	/s/ David Clayton	 
	 	Name:  /s/ David Clayton	 
	 	Title:  Authorized Signatory	 

 

	 	
        Purchaser’s Address for Notices:

        

	 	 
	 	
        c/o BlackRock Financial Management, Inc.

        55 East 52nd Street

        New York, NY 10055

        Attn: 

         

        with copies to:

         

        c/o BlackRock, Inc.

        

        Office of the General Counsel

        

        40 East 52nd Street, New York, NY 10022 

        Attn: David Maryles and Reid Fitzgerald

        

        Email: legaltransactions@blackrock.com

         

        And

         

        Kramer Levin Naftalis & Frankel LLP

        

        1177 Avenue of the Americas

        

        New York, NY 10036

        

        Attn: Christopher S. Auguste

        

        Email: cauguste@kramerlevin.com  

    [Signature Page to First Amendment to Subscription Agreement]

    

    

Exhibit A

 

Schedule A

 

	 	 	Number of

Subscribed Securities	 	 	Initial Purchase Price	 
	Founder Shares	 	1,464	 	$	5.30	 
	Private Placement Warrants	 	1,920	 	$	2,880.00	 

 

*In the event that the Over-allotment Option is exercised, the
Purchaser agrees to purchase up to an additional $300.00 of Private Placement Warrants at a price of $1.50 per warrant (or up to
200 Private Placement Warrants), in the same proportion as the amount of the over-allotment option that is exercised. In the event
that there is an Over-allotment Adjustment, the Purchaser agrees to surrender up to 15% of the Purchaser’s Founder Shares
for no consideration.

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