Bayern Kapital, the HTGF and a business angel from the BayStartUP investor network invest in IoT logistics startup
The High-Tech Gründerfonds (HTGF) – Germany’s largest seed investor as well as Bayern Kapital and another private investor from the BayStartUP investor network are investing a seven-figure amount in the logistics startup BLACKBOX Solutions GmbH. BLACKBOX Solutions was also able to secure additional funds from Bavarian program for the promotion of technology-oriented start-ups (BayTOU). So a total of around EUR 2 million in seed funding is available. Munich’s smart tracking solution makes logistics processes transparent across all delivery routes and storage locations. The goal is, a complete and consistent digital image of the real flow of goods without the necessary integration of the application into the existing customer radio infrastructure.
“In the start, the BayStartUP team provided us with ideal support and helped to convince a private investor from the BayStartUP investor network to our solution. Together with BayernKapital and the private investor, a powerful consortium for financing was created with the HTGF in the lead, “says Dr. Ing. Wolfgang Vogl, founder and CEO of BLACKBOX Solutions.
BLACKBOX Solutions develops networked sensors, which the company attaches to goods and load carriers. In contrast to previously common GPS / GSM-based solutions, they can locate them both outdoors and in warehouses. The sensors from BLACKBOX Solutions automatically determine the location and condition of the load carriers and goods . And in the future can transmit this data from almost anywhere in the world to the IT systems of the customer. This works at relatively low cost and wirelessly via public available wireless networks. BLACKBOX Solutions uses LPWAN (Low Power Wide Area Network) technologies.
The company’s battery-powered sensors can be operated for years and transmit data which is maintenance-free. Together with comprehensive software services for analyzing the information, BLACKBOX Solutions provides its customers, well-known industrial companies, automobile manufacturers and logistics service providers with valuable information about their goods and logistics processes.
“Logistics is a growth market for which BLACKBOX Solutions offers what we believe is a highly innovative solution that opens up new potential for efficiency. Many companies that want a transparent logistics chain are now failing in real-time data capture, delivery and analysis solutions because IT integration is too time-consuming and costly. The BLACKBOX Solutions approach overcomes these barriers, “says Christian Ziach, Investment Manager at HTGF.
Also published on Medium.