A new company based in Germany is looking to build an autonomous electric car. The firm, called Naos Finance, is a start-up with a clear vision to provide consumers with a high-end, safe, and fuel-efficient vehicle. It’s also backed by a seasoned team of investors who have a lot of experience in the automotive and energy industries. They are working on a vehicle that can run on biofuels, which would make it more eco-friendly than its competitors. This means it could get more affordable, too.
Okto Technologies
OKTO Technologies is a specialist in smart building technologies. The company’s AI-powered platform allows building owners to control lighting and energy management in an automated fashion. It also delivers a personalised experience to building occupants.
OKTO recently announced plans to expand its workforce by 80 employees. In order to do so, it is offering a full range of jobs. This includes project managers, quantity surveyors and software developers. Currently, the company has 100 employees in its Lisburn headquarters, with a further 80 people across its operations in Dublin. A new hire can expect to have the opportunity to work with a team of highly skilled individuals who are constantly evolving the company’s technology and products.
Corl Financial Investments
Corl Financial Investments is a German-based company which offers alternative financing solutions to startups around the world. It uses a capital-as-a-service platform and artificial intelligence to determine the probability of a business being successful in the future. In the past, startups have had to deal with lengthy and time-consuming due diligence processes before receiving funding. But with Corl, the process is simplified.
The platform is built upon thousands of data points from a company’s business and accounting systems. A computer program spits out a score and a report, and the decision whether to proceed with financing is then made. Once the funding is approved, the business can begin using the money within 24 hours.
IFB Innovationsstarter
The IFB Innovationsstarter is the most eminent of the City of Hamburg’s finesse products. While the organization may not be the brainchild of a benefactor, it certainly is one of the bêtes de coeur in the borough. In fact, it is so slick that it is a favorite among the city’s top executives. With an annual budget of about 200 million euros, the organization boasts a staff of more than 700. As a result, the IFB has a lot of money to spend on the latest and greatest in the labs. One of the most important tasks in the organization’s portfolio is the research and development of novel pharmaceuticals and other proprietary compounds. The company’s track record in this arena includes a number of high-profile partnerships with other leading players in the industry.
Investors
The German Government’s investment arm, High-Tech Grunderfonds, has announced the first close of its fourth fund. The fund’s objective is to help early-stage tech start-ups become profitable and scalable.
Founded in 2005, High-Tech Grunderfonds has invested in over 670 start-ups. They have secured commitments for more than EUR 400 million in fund volume in 2022.
Currently, the High-Tech Grunderfonds team is focused on regulated medical devices and tools to improve the healthcare system. Its investments include BioNtech, a company that develops robotics. Moreover, it also supports startups working on innovative diagnostics.
In addition to High-Tech Grunderfonds, investors in this funding round include IBB Ventures, Crethor Ventures, Redalpine and Inkef Capital. This financing round is one of the largest in German VC history.
