aws Gründerfonds: A successful round of financing for radio technology provider, endiio
endiio GmbH is a developer and provider of a new, energy self-sufficient radio technology
Vienna (OTS) – For the further development of the technology and the financing of their upcoming entry onto the market, the Innsbruck start-up receives its first growth capital through the aws Gründerfonds and Situlus Holding. The Standortagentur Tirol supported the establishment of the start-up in Tyrol, as well as its financing through the Tyrolean investor network.
The endiio start-up, headquartered in Innsbruck, today announced the successful completion of a round of financing under the leadership of the aws Gründerfonds and with the participation of Situlus Holding. The funds in the six-digit range will primarily serve the further development of energy self-sufficient radio technology, as well as financing the company’s entrance onto the market. Since its founding in 2015, their proof-of-concept has already been proven through partnerships with well-known industrial companies.
Tolgay Ungan, founder and CEO of endiio, is delighted to have won the aws Gründerfonds and Situlus Holding as new shareholders: “We are proud to have strong partners by our side in the aws Gründerfonds and Situlus Holding, who support our vision and business model and are able to actively guide us through our entrance onto the market.” Ralf Kunzmann, Managing Director of the aws Gründerfonds, adds: “endiio has developed an innovative product that is positioned in a rapidly growing industrial IoT market. In the future, billions of sensors will be networked together and able to communicate wirelessly – in a range of different sectors from logistics through to agriculture. endiio enables significantly improved communication and data transmission in these sectors’ networks. The initial strong partnerships have already been concluded. Big players in the sensor market are convinced of the real time capability and energy-efficiency required for the permanent monitoring of sensitive systems and critical processes. We are very pleased to actively support endiio’s market entry and further development.”
Maximilian Seidel, Managing Director of Situlus Holding, also sees a bright future for endiio: “Their competent founding team, the introduction of innovative basic technology and the large potential for the upcoming, rapid development of the sensor market convinced us from the start. We look forward to assisting endiio with their upcoming stage of development and are confident that we will be able to provide additional growth impulses by integrating our other investments.”
“Access to funding is critical to the success of our start-up. This is why the mobilisation of venture capital is an important component of the Austrian founding strategy. With its financial instruments and know-how, the aws is one of our most important implementation partners”, emphasises state secretary, Harald Mahrer.
endiio is a spin-off from the University of Freiburg and decided to establish itself in Tyrol in February 2015 under the supervision of the Standortagentur Tirol. The Tyrolean Minister of Economic Affairs, Patrizia Zoller-Frischauf, emphasises the potential: “We are developing Tyrol into a hotspot for the start-up community in the Alpine region and the measures taken are having an effect: With start-ups such as endiio, the area takes on fast-growing companies that offer a range of high quality and qualified jobs. In order to further strengthen this successful path, I initiated the investor network in 2012, in order to bring young companies together with potential investors.” Standortagentur Tirol Managing Director, Harald Gohm, explains: “As part of the “Gründerland” (founding) strategy, we are also looking for international start-ups to establish themselves in Tyrol. Young, innovative companies in particular benefit from our tailored consulting services and the networks into which we immediately integrate them. endiio, in particular, benefited from the services in the Tyrolean investor network in order to gain private venture capital.” endiio was also able to make use of the specific consulting services at the CAST, Centre for Academic Spin-offs Tyrol, to secure and exploit intellectual property.
The innovation of the Innsbruck-based start-up is based on a new, patented radio technology. With the endiio technology, tens of thousands of sensors can communicate wirelessly with a single central unit by radio – customised, robust, easy, and energy-saving. Large sensor networks in various areas of the industrial Internet of Things can therefore be operated efficiently and with no need for maintenance.
About the aws Gründerfonds
The aws Gründerfonds is the leading venture capital company in Austria and has equity capital of around EUR 70 million. The fund is a subsidiary of the Austria Wirtschaftsservice Gesellschaft mbH (aws). The investment focus is on Austrian start-ups with large potential for growth for seed capital and follow-on investment in the start-up and early growth phases (later seed and series-A). Co-investors from our international network are actively involved. The aws Gründerfonds is a long-term, stable partner and provides corporate venture capital with active support. 18 investments have been completed to date.
About Situlus Holding
Situlus Holding, founded in Graz in 2012, is an independent Austrian associated company of Seidel Privatstiftung, which invests in start-ups and medium-sized companies in Germany, Austria and Switzerland. Situlus sees itself as a time-limited partner providing both strategic know-how and capital.
About the Tyrol investor network
The Standortagentur Tirol runs the Tyrol investor network in the Tyrolean area to bring promising young companies and start-ups that are headquartered in the area together with the right investors. Prerequisites for start-ups are a clear USP and high market potential. The investor side can include private persons with capital and management know-how, as well as institutional and strategic investors.
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