UVC Partners Exits Portfolio Company Vimcar to Battery Ventures
Munich, January 12, 2023 – UVC Partners sold 100% of its Vimcar shares jointly with its fellow shareholders to Battery Ventures, a global, technology-focused investment firm. After developing the firm over five years successfully as the leading provider of SME fleet management solutions in DACH, Battery acquired Vimcar to internationalize the business. Next to Vimcar, Avrios was bought by Battery Ventures and the two players will team up to become European market leaders. Andreas Schneider and Christian Siewek (Founders & Co-CEOs) will remain as shareholders of the new company.
In April 2017, UVC Partners led the Series A financing round together with Coparion to digitize SME fleet management. Since then, Vimcar has become the leading SME fleet-management solution in the region of DACH, managing a fleet of over 130k vehicles.
Battery’s goal for Vimcar and Avrios is now to bring the two SaaS (software-as-a-service) companies together to create a large, pan-European player and offer better product capabilities and services to customers through product innovation and, potentially, further acquisitions. Specific plans for the proposed combination will be revealed at a later time.
“We are amazed by the development of Vimcar over the last 5 years. Becoming the market leader in SME fleet management in DACH was a great accomplishment by the founders Andreas and Christian. The merger with Avrios puts Vimcar in a great position to become the European market leader. We are very grateful to have been part of the journey and congratulate the founders as well as Battery on this deal - well done!” said Andreas Unseld, Partner UVC Partners.
“We are thrilled to partner with Vimcar and Avrios and are excited to work with the leaders of both companies to provide a more integrated fleet-management offering to customers,” said Morad Elhafed, a Battery general partner.
“We are excited to join forces with Battery, a seasoned software investor in Europe and North America, and tap the firm’s growth expertise, including help with go-to-market operations,” said Andreas Schneider, Vimcar co-founder, and co-CEO.
Vimcar, a Berlin based Scale Up, is the leading provider of fleet management software for SMEs with one to 200 vehicles. Its SaaS solutions cover all aspects of fleet management – from real time vehicle tracking to theft warning and route planning. The market leading digital logbook solution fulfills all legal requirements of financials authorities in the DACH region. More than 60,000 customers are already running with Vimcar’s award-winning software. That includes customers like Deutsche Bahn, Allianz, Free Now, Knauf, Koziol, and Nippon Seiki.
Learn more at www.vimcar.de.
About UVC Partners
UVC Partners is a Munich- and Berlin-based early-stage venture capital firm that invests in European tech startups from pre-seed to series A. With more than €350m under management, the fund typically invests between €0.5m - 10m initially and up to €30m in total per company. With more than 100 industry partners in the network and a close cooperation with UnternehmerTUM, Europe’s leading innovation center, UVC Partners offers startups unique access to talent, industry contacts, and other financial partners.
Battery partners with exceptional founders and management teams developing category defining businesses in markets including software and services, enterprise infrastructure, consumer tech, healthcare IT and industrial technology and life-science tools. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com, and find a full list of Battery's portfolio companies here.