Author Archives: Andreas Goeldi

  1. Jan-Hendrik Bürk is named partner at btov Partners

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    Jan-Hendrik Bürk, originally from Hamburg, has been with btov since 2016 and is now joining the circle of partners. Bürk is the youngest partner ever appointed at btov. He has been instrumental in driving investments in the eHealth sector and developing it into a core area within btov. Next to health, he also focuses on supply chain technologies and the future of commerce.

    In the last five years, most recently as principal, Jan-Hendrik laid the foundation for a strong portfolio in the eHealth area by managing investments in startups such as Happify, Heartbeat Medical, Kiroku, Urban Sports Club and Vantis. In supply chain tech, Bürk oversees companies such as Procuros and Vamstar, as well as the social commerce startup Picker.

    Jan-Hendrik Bürk, 28, graduated from ESADE Business School in Barcelona with a master’s degree in Finance and International Management before joining btov as an associate in 2016.

    “As a partner, I aim to further build our reputation as a leading digital health investor through ongoing thought leadership and hypothesis-driven investing. As a type 1 diabetic, I grew up with the frustration of the lack of treatment progress for chronic diseases and quickly learned that technology can fundamentally change treatments and contribute to greater quality of life.”

    Florian Schweitzer, Founder and CEO of btov: “Jan-Hendrik becoming a btov partner at the age of 28 is the result of a personal development that has deeply impressed us over the last five years. In his youth, Jan-Hendrik was a high-performance athlete. He has maintained his absolute will to win, always putting the cause above himself. In the VC context, this means: Jan-Hendrik is a loyal partner who goes the extra mile to support our founders. Mediocrity is not his thing – Jan-Hendrik thinks and acts with Champions League standards.

    We at btov Partners are grateful and proud that Jan-Hendrik has accepted our offer, further developing the multi-generation concept of our company with this big step. With analytical acumen, he has developed eHealth into one of the main focus areas of our Digital Technologies fund. His domain expertise in combination with outstanding investment performance speaks for itself.“

    Jan-Hendrik continues, “The digital health market is in an extremely interesting phase. Today, eHealth can no longer be viewed as a digital therapy silo. Rather, digital health is merging with other adjacent areas such as Fintech, Supply Chain or Commerce. In addition, the destigmatization of wearables is enabling entirely new forms of data intelligence that will ultimately lead to much more effective digital health solutions.”

    About btov Partners:

    btov Partners is a European venture capital firm, managing institutional funds, partner funds and direct investments of private investors. With investment teams in Digital and Industrial Tech, btov invests over EUR 50m per year in high growth companies with ticket sizes from EUR 0.5m to 5m. With offices across Europe, btov is currently investing out of a EUR 115m Digital Tech fund and a EUR 100m Industrial Tech fund.

    btov has backed 100+ companies around the globe including dataArtisans, decentriq, DeepL, Finanzcheck, foodspring, Layer, Raisin, SevenSenders and SumUp.

  2. Baresquare raises $2.5M to help businesses use data to act fast

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    London/Thessaloniki, September 28, 2021. Baresquare, the action-driven analytics company serving an expansive international client base, announces its seed financing round of $2.5 million, led by European venture capital firm btov Partners.

    Founded in Greece, Baresquare has developed an AI-powered analytics platform to transform the way Marketing, eCom and Retail professionals work with data. Rather than continue sifting and sorting through endless static data reports in search of insights and answers, Baresquare’s action-driven analytics platform pinpoints traffic, conversion and customer experience optimization opportunities—providing teams with clear next steps to act fast for the greatest business impact.

    “People are drowning in data, paralyzed by high data volume and complexity,” states Georgios Grigoriadis, Baresquare CEO & Founder. “We are constantly bombarded with new data, tethered to our screens in search of insights and answers, and it’s almost impossible to stay afloat, let alone feel confident that we’re making the best calls for our businesses. We can’t keep working with data the same way, because soon it won’t be humanly possible to keep up. That’s why Baresquare has developed a scalable, cloud-based analytics software that turns timeseries data into action. We’re taking the reins back, so that data works for people again, and not the other way around.”

    The Baresquare action-driven analytics platform connects with popular time series databases and provides prioritized action tickets within the collaboration tools teams already use.

    Over the last decade, Baresquare has worked to develop the most efficient, effective way to extract actionable insights from raw data. Today, their system provides action tickets in plain English, prioritized by business impact. Using cutting-edge machine learning, the platform is constantly learning which metrics matter most to organizations and gets smarter over time—empowering teams to use data to act fast and drive measurable, valuable change. Baresquare recently helped a global mass media company find and fix critical conversion issues in a matter of hours, which would have otherwise taken weeks to notice.

    Baresquare’s first financing round was led by European venture capital firm btov Partners, and will be used to further build out the product and support the company’s international expansion. The round was joined by Marios Stavropoulos, former Co-Founder & CEO of Softomotive (now part of Microsoft Power Automate; acquired by Microsoft in 2020) and Kostas Tzoumas, former Co-Founder & CEO of Data Artisans (now Ververica; financed by btov and acquired by Alibaba in 2019).

    As btov partner and co-founder Florian Schweitzer says, “btov Partners supports disruptive technologies that improve the lives of people and help companies perform better. We know how overwhelmed most businesses are with the data available to them, and Baresquare’s technology cuts through this noise, helping them act quickly instead of just analyzing endless reports. Baresquare’s technology gives its customers a true competitive advantage and will change how we think about business data.”

    With btov’s support, Baresquare will double down on making their product more accessible to all, offering a “24/7 analyst” for teams that likely had none. And for teams who have in-house analysts, Baresquare will free up time and energy to think about more complex problems and solutions that actually move their business and their people forward.

     

    About Baresquare

    Baresquare is changing how people work with data. The Baresquare AI-powered analytics platform surfaces micro insights that could lead to major opportunities so that performance teams no longer waste valuable time sifting through data, pinpointing problems, or fixing costly issues. With 10+ years of industry expertise and headquarters in London and Thessaloniki, Baresquare provides next-generation analytics software and services to global brands such as Sony, Pulse Insights and Domes Resorts in the US, Japan, UK and Europe.

  3. Ledgy raises $10 million Series A from Sequoia Capital

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    Our portfolio company Ledgy has raised a $10 million Series A funding round, led by Sequoia Capital. Sequoia partner Luciana Lixandru is joining Ledgy’s board.

    Also participating are Xavier Niel, Harry StebbingsVisionaries Club, UI Path’s Daniel Dines, Front’s Mathilde Collin, as well as existing investors Myke Näf, Paul Sevinç, btov Partners, Creathor Ventures and VI Partners.

    Congrats to Ledgy founders Yoko SpirigBen-Elias Brandt and Timo Horstschaefer and the entire Ledgy team!

    Ledgy has built the first platform for company ownership that can be used in any jurisdiction. The list of customers who have chosen Ledgy speaks for itself and includes unicorns such as RaisinKryBitpanda and Pleo. Ledgy’s MRR has increased by a factor of 10x over the last 12 months, and the company will use the new funds for further rapid expansion in Europe and beyond.

    btov is a heavy user of Ledgy as well for all our fund management needs. If you want to check out Ledgy as a startup or VC fund, learn more here: https://ledgy.com/#start

    Read more about it on TechCrunch, on Sequoia’s blog and on Ledgy’s blog.

     

  4. Remi raises 1.2M EUR in pre-seed funding for remote culture building tools

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    Remi.so is a new culture-building platform for remote teams. btov Partners is leading a 1.2M€ pre-seed funding round, and we are joined by renowned angel investors such as Eyeo founder Tim Schumacher, TIER CPO Georgie Smallwood, Honeypot co-founder Emma Tracey, Trivago Founder Rolf Schroemgens and Doodle co-founder Myke Näf.

    Remi is already testing the product with top customers such as GetYourGuide and TIER Mobility, and the waitlist for the closed beta is getting longer every day.

    More about the round on tech.eu.

    Read our thoughts about remote work and why we believe Remi is perfectly positioned to impact this trend in our blog post.

  5. Equal1 Receives Multimillion Euro Venture Capital Investment from btov Industrial Technologies and Atlantic Bridge

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    Read our blog post about our investment in Equal1. 

     



    New funding enables company to accelerate introduction of useful, cost-effective quantum computers that leverage existing semiconductor technology

    Dublin, Ireland and Fremont, California — Equal1 Laboratories (Equal1), the silicon quantum computing company, today announced btov Industrial Technologies has joined Atlantic Bridge and other Equal1 investors in a multimillion Euro funding round.  The funding, which will accelerate the introduction of the world’s most compact and cost-effective quantum computers, brings the initial capital invested in Equal1 to over €10 million.

    The company also has announced the appointment of Dr. Christian Reitberger, Partner at btov, to the Equal1 board of directors. Reitberger brings to Equal1 deep-tech quantum experience and a passion for technologies that have the potential to improve the state of the world in a sustainable and significant way.

    “We are excited to be part of this journey with the impressive Equal1 team,” says Reitberger.  “Equal1 has a trajectory to create massively scalable quantum solutions for real applications without the need for an exotic new technology platform –leveraging existing semiconductor foundry processes to deliver quantum computing solutions that make artificial intelligence (AI) more efficient and sustainable.”

    Equal1 is addressing a major challenge for the quantum computing industry – to scale the number of qubits so that a quantum computer can tackle useful, real-world problems.  The company recently announced that it was the first to demonstrate a fully integrated quantum processor unit (QPU) operating at 3.7 kelvin ―a major milestone with implications for the trajectory of quantum computing. The QPU has been integrated into a quantum computer demonstrator and has been operating continuously for 18 months at the company’s sites in Ireland and the U.S.

    The company’s third generation QPU chip was recently produced. This QPU includes the latest patented silicon qubit array as well as hybrid qubit test structures and high speed input/output communication links used to bring high speed data into the quantum core. With its QPU, Equal1 has developed a disruptive, scalable and cost-effective quantum computing technology, based on a commercially available silicon semiconductor process.  This technology will enable the company to meet the enormous demand for affordable, functional quantum computers and the company is targeting a first-generation production system within 24 months.

    “We have supported Equal1 from the very beginning and have been impressed and excited with what the team has achieved to date” notes Gerry Maguire, Partner at Atlantic Bridge and Equal1 board member.  “With this new round of funding, we are confident that the team can deliver on its exciting goals of bringing the technology to market.”

    “This is a wonderful validation of our unique qubit technology and integrated approach, protected by a portfolio of over 30 patents,” says Dirk Leipold, Founder and CEO of Equal1.  “The support of a new, extremely knowledgeable deep tech investor in btov, along with the continued support of Atlantic Bridge will enable us to accelerate our development of a useful QPU and deliver on our vision of democratizing quantum computing.”

    Equal1 has recently appointed a world renowned scientific advisory board (https://www.equal1.com/equal1-laboratories-announces-appointments-to-its-new-scientific-advisory-board/) and appointed Declan O’Mahoney, a seasoned tech CEO with multiple exits, as Non-Executive Chairman of its Board of Directors (https://www.equal1.com/equal1-chairman/).

    Equal1’s quantum technology is particularly suited to Quantum Artificial Intelligence (AI) and machine learning. AI is transforming every aspect of our lives from self-driving vehicles to AI-designed drugs. However, the amount of energy required by these applications means that it is now a material and growing contributor to global carbon output and hence global warming. Equal1’s quantum computing technology will enable vastly better performance at a fraction of the energy.

    With research and development teams in Dublin, Ireland and Silicon Valley, Equal1 was founded by Dr Dirk Leipold, Mike Asker and Professor R Bogdan Staszewski.  It is a spin-out from the University College Dublin School of Electrical and Electronic Engineering.

    The investment is also supported by current investors 808 Ventures and Enterprise Ireland.

     

    About Equal1

    Equal1 leverages commercially available semiconductor technology to deliver quantum computing solutions that empower businesses to overcome data-intensive AI challenges today.

    With its much smaller carbon footprint, our scalable, cost-effective technology provides a quantum computing path that will impact the trajectory of AI. This means we enable our customers to more effectively leverage the power of AI to develop useful, real-world solutions.

    For more information, please visit us at equal1.com.

    About btov

    btov (@btovPartners) has been supporting outstanding European startups in non-obvious digital and industrial technologies since 2000.  Our unfair advantage is the unique combination of our two dedicated Industrial and Digital Technology Fund teams and Europe’s strongest network of entrepreneurial private investors.  In this Private Investor Network members not only get access to high-quality investment opportunities but also benefit from knowhow exchange and inter-generational learning through think tanks, academies, study tours and digital formats.  btov has been actively backing semiconductor, photonics and quantum technology companies for more than a decade https://btov.vc/industrial-tech-fund/ .

    About Atlantic Bridge

    Atlantic Bridge is a €1 Billion Pan European Technology Growth Firm founded in 2004 by successful technology entrepreneurs and executives.  With offices in London, Dublin, Munich, Paris, Palo Alto, and Beijing, Atlantic Bridge invests in deep tech sustainable sectors such as Artificial Intelligence, Digital Health and Computer Vision.  With 8 Funds under management now including two University Funds, the Firm leverages its deep operational experience and unrivalled networks to help build deep technology companies into global market leaders across Europe the US and Asia. www.abven.com/

  6. fruitcore robotics raises 17m euros to enable automation with industrial robots for the masses

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    Less than two years after their market launch, fruitcore robotics’ robotic systems are already automating several hundred different applications in ten industries. The basis for this corporate success is the intelligent software and the innovative, high-performance industrial robots. In order to continue growing internationally, the company has raised 17 million euros in a Series A financing round. The capital comes from three internationally renowned venture capital firms: UVC Partners, btov Partners and CNB Capital.

    Constance, Oct. 04, 2021 – The biggest hurdles of robot automation so far are the demanding programming, the resulting high total costs as well as the connection of all components involved in the automation process. This is where fruitcore robotics comes in. The Constance-based startup developed HORST (Highly Optimized Robotic Systems Technology), a robotic system that overcomes these hurdles using intelligent software and innovative mechatronics. The software maps the entire application via a digital twin. The powerful and inexpensive robot transfers the application 1:1 into reality.

    Advantages through price, simplicity and flexibility

    “SMEs need flexible systems with which applications can be realized easily and affordably. In addition to the robot, this requires above all easy-to-use software and intelligent interfaces,” explains Jens Riegger, CEO of fruitcore robotics. In line with these requirements, the Constance-based startup has rethought the entire robotic system and achieved several innovations in this field. With HORST, the deep-tech company has combined the advantages of collaborative and conventional systems: the performance of industrial robots with the ease of use of cobots and has been able to significantly reduce costs. Another major advantage for the user comes from the simple and intuitive operation of the robots, for which no programming knowledge is required. “Complex programming over the entire life of the robot results in high costs. In contrast, the user saves time and money thanks to the simple handling and associated flexibility of our robots. Economical automation is possible from as little as 1 piece and is therefore also practicable for SMEs,” says Patrick Heimburger, CFO of fruitcore robotics. HORST can be used across almost all sectors and industries: for loading and unloading machines, for stacking, sorting and packaging products, for handling turned, milled and stamped parts, but also for pick & place applications for small parts.

     17 million euros venture capital

    New impetus is now provided by the current Series A financing round of 17 million euros, led by the early-stage venture capital company UVC Partners and supplemented by both the btov Industrial Technologies Fund and the private investor network of btov Partners as well as CNB Capital (Constantia New Business GmbH), a European technology investor with long-term orientation. So far, fruitcore robotics has been accompanied by a business angel, who will continue to support the company. “fruitcore robotics has developed the best end-to-end solution in the robotics sector and it comes from a single source,” explains Benjamin Erhart from UVC Partners. Robert Gallenberger of btov Industrial Technologies Fund adds, “The integrated approach of hardware and software innovation coupled with the broad benefits for the customer makes fruitcore robotics a highly interesting investment for us.”

    fruitcore robotics as a pioneer for smart automation solutions

    With the new capital, the deep-tech company plans to expand its European presence and extend its digital services.” A robot alone cannot yet automate an application; it requires an intelligent linking of various components such as grippers, CNC systems or safety systems. With our software, we network these components more strongly than has been common in the industry to date, thereby making the entire application intuitively operable, digital, and even affordable,” says Jens Riegger. And he continues: “We have already taken the first step in this direction with the launch of our IoT platform horstCOSMOS.com.” Today, fruitcore’s systems already provide control of the entire robotic environment, seamlessly integrating the physical application onto a digital platform. In the future, extensions to the software and online platform will make numerous applications automatable via plug & play.

    From research to robot

    The five founders of fruitcore robotics, Jens Riegger, Patrick Heimburger, Tim Schmiedl, Manuel Frey and Tobias Kuentzle, are convinced that the HORST technology has the potential to make robotics accessible to a broad mass of people. fruitcore robotics originates from a spin-off of the HTWG Konstanz (Hochschule Konstanz Technik Wirtschaft und Gestaltung). After research work by Jens Riegger and Manuel Frey in the robotics field, the first HORST prototypes were produced in 2016. The team received the EXIST-Gründerstipendium for high startup projects, a startup funding from
    the federal government and the EU, and founded fruitcore robotics GmbH in May 2017. Since then, the company has grown to more than 80 employees and two locations. In addition to the headquarters in Constance, a production site in Villingen-Schwenningen was opened in May 2020. fruitcore robotics develops and produces the HORST robot systems in Germany. The portfolio includes three robot models with reaches of 600, 900 and 1400 millimeters and payloads between 3 and 12 kilograms. Several hundred robots are already in use at customers from a wide range of industries in Europe.

  7. btov Partners Closes New $135M Fund for Early-Stage Investments in European Digital Technology Startups

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    St.Gallen/Berlin, 16 September 2021 — Venture capital firm btov Partners announces the final closing of its new digital technologies early-stage fund with a volume of $135M. It’s the second fund that focuses entirely on digital technologies, and the ninth for btov Partners in total. Investments in earlier fund generations included companies such as DeepL, Raisin, SumUp, Orcam, Seven Senders, Ottonova, Urban Sports Club, Ledgy, Foodspring (acquired by Mars) and Data Artisans (acquired by Alibaba).

    The fund works very closely with btov’s Private Investor Network of experienced entrepreneurs. Over 70 of the network members invested personally in the new fund and will work closely with the fund team to identify investment opportunities and support portfolio companies. The list includes well known super angels such as Logitech founder Daniel Borel, Scout 24 founder Joachim Schoss, global unicorn hunter Daniel Gutenberg and further experienced entrepreneurs such as Holger Hengstler (Dress-for-less), Reiner Mauch (Consors), Toon Coppens (Netlog, Realo) and Tim Schiffers (ParshipMeet Group).

    The investments of the new fund will concentrate on topics such as AI, Digital Health, FinTech, Logistics, B2B SaaS and Marketplaces, all across Europe and focusing on seed and series A stages.

    The partner team consists of the previous fund’s line-up of Florian Schweizer, Jochen Gutbrod and Luca Martinelli plus new partner Andreas Goeldi, an experienced serial entrepreneur who co-founded several companies in both Europe and the United States. Goeldi had his first successful exit in 2000 and most recently was the CTO of Boston-based AI-oriented video marketing company Pixability. He holds four U.S. patents in big data analytics and AI-based optimization and has been an active angel investor for over two decades. Goeldi will focus his investments on companies in the AI, B2B SaaS and DevOps spaces.

    btov Partners founder Florian Schweitzer said: “We are very grateful to have raised this fund with such strong support from our Private Investor Network, as well as from previous institutional LPs, particularly the European Investment Fund. The close collaboration with our investors and our expanded partnership will continue enabling us to identify and win non-obvious investment opportunities better than ever. btov was originally called BrainsToVentures and remains true to this spirit today: Nicole Herzog, for example, was initially a btov co-founder, then built up the software spin-off Umantis and is now active as a btov venture partner. Andreas Goeldi was a great entrepreneurial role model for me during my studies. He invested in btov startups very early on and is now a general partner.”

    New partner Andreas Goeldi said: “I have known btov Partners since its earliest days and followed the impressive growth of the firm closely. SVOX, my first very successful early angel investment, was enabled by btov. It is a privilege to join this strong partnership now with this new fund generation. Europe’s entrepreneurial scene is bursting with energy and technical excellence, and we are in a perfect position to support the strongest startups.“

    Florian Schweitzer added: “The European VC industry has become very competitive, and we see that our unique combination of in-house expertise and our network of some of Europe’s most experienced entrepreneurs truly sets us apart. It didn’t come overnight – we have been building this for two decades now.”

    The new fund has already been actively investing for about a year. Its first investments include confidential data collaboration platform Decentriq; conscious D2C beauty brand gitti; patient-reported outcomes data platform Heartbeat Medical; trustworthy AI platform LatticeFlow; healthcare marketplace Vamstar; sustainable banking infrastructure provider Ecolytiq; cardiovascular digital health solution Vantis; all-in one business spend management platform Finway; remote work culture enablement platform Remi; and procurement integration platform Procuros.

    btov Partners collaborates closely with top universities EPFL and the University of St.Gallen on the development and roll-out of the ROSE (Return on Society and Environment) ESG framework. All btov portfolio companies undergo an assessment of their ESG profile, and ESG KPIs are constantly measured to assure ethical investments. ROSE was developed in collaboration with fellow VC firm HV Capital, as well as student-run entrepreneurship organization START Global and the St.Gallen Symposium.

    The raising and establishment of the fund was supported by law firms YPOG (www.ypog.law) and Van Campen / Liem (vancampenliem.com).

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