Innoactive secures €4.4 million for the expansion of its VR/AR enterprise software platform
- VR/AR software platform from Innoactive simplifies content creation and implementation of collaborative planning, simulation and training applications
- UVC Partners and Capnamic Ventures invest €4.4m in Series A financing round
- With this investment, Innoactive plans to expand its technology and product development and to enlarge its development team
Munich – 4 June 2018. Innoactive, a leading provider of VR/AR software, is receiving an investment of €4.4 million. The lead investor is Unternehmertum Venture Capital Partners (UVC Partners), alongside Capnamic Ventures, two strong partners who will support Innoactive in expanding its technology and product development.
Since 2015 Innoactive has been providing virtual reality (VR) and augmented reality (AR) solutions to customers in the automotive, aerospace, pharmaceutical and retail industries, among others. The software platform Innoactive Hub simplifies the creation and use of professional VR/AR applications. With the Innoactive SDK (Software Development Kit) for Unity, applications for planning, simulation and training can be created quickly, easily and with consistently high quality. The Innoactive Hub platform enables central content management and, with its intuitive user interface, provides a central entry point for all employees to meet virtually together and improve their workplace, regardless of where they are located.
“Particularly in the areas of production and logistics, the great savings potential offered by virtual reality leads to enormous demand for VR training content. With our Innoactive Hub platform we offer an exciting solution with low entry barriers to create training content faster, use it more efficiently and roll it out company wide,” explains Daniel Seidl, founder and CEO of Innoactive.
Innoactive has helped its customers such as Volkswagen, MediaMarktSaturn, Carl Zeiss, Deutsche Bahn, Audi and Continental to reach their digital transformation milestones by using Innoactive’s VR/AR software. After the Volkswagen Group announced in 2017 that it would use Innoactive’s platform for the global implementation of collaborative VR training solutions, this year it plans to use the Innoactive Hub as the basis for training 10,000 employees in production and logistics (video).
To further strengthen the company’s strong market position, the investment will be used for technology and product development as well as for expanding international sales and enlarging the development team. On the product side, the Innoactive SDK will be equipped with additional functions that enable customers and partners to create VR training applications quickly and easily.
Christian Knott, Partner at Capnamic Ventures and Johannes von Borries, Managing Partner at UVC Partners agree that Innoactive offers a leading VR product with an enterprise-ready model. The application area of training solves a very specific problem for customers today and allows Innoactive to position itself strategically as the platform creator for virtual reality solutions. Both partners look forward to helping Innoactive continue to establish the technology in the market and cater to the specific applications of its customers.
Munich-based company Innoactive develops virtual and augmented reality enterprise software. The owner-managed company serves clients in the automotive, aerospace, pharmaceutical and retail industries.The software platform Innoactive Hub simplifies the creation and use of collaborative VR/AR planning, simulation and training applications. The software platform enables central content management and, with its intuitive user interface, provides a central entry point for all employees to meet virtually together and improve their workstations, regardless of where they are located.
About Unternehmertum Venture Capital Partners
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich-based early-stage venture capital firm that invests in technology-based startups in Germany, Austria, and Switzerland. UVC Partners focuses on investments in the areas of industrial technologies, smart enterprises and mobility. The fund typically invests between €0.5-3m initially and up to €12m in total per company.
Portfolio companies benefit from the extensive investment- and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 180 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners.
About Capnamic Ventures
Capnamic Ventures is one of Europe’s leading early-stage Venture Capital firms, with offices in Berlin and Cologne. The VC invests most of its funds in tech startups in the German-speaking region. Capnamic also joins forces with international co-investors. All portfolio companies are supported through Capnamic’s global network of investors and industry partners. The vast expertise of the Capnamic team includes more than 70 investments, a high turnover of successful trade sales and IPOs, as well as a strong entrepreneurial track record within the investment team. The general partners are Christian Siegele, Jörg Binnenbrücker and Olaf Jacobi.