European Deep-Tech and ‘industrial tech’ start-ups working in the field of industrial applications get a shot in the arm today with the news that btov Partners has closed 80 million Euros in backing for the second closing of its new btov Industrial Technologies Fund. btov Partners is a European venture capital firm with offices in Berlin, Munich, St. Gallen and Luxembourg.
The cash was raised from industry, strategic investors, family offices, foundations, a number of banks, the European Investment Fund – and the management team itself. The fund will aim to invest in European start-ups specifically aimed at industrial applications
Such as AI for industrial process optimisation, so-called Industry 4.0, IIoT (Industrial Internet of Things), cyberphysical security, electronics and photonic, power generation and storage, as well as medical and quantum technologies.
DyeMansion, a Munich-based start-up, in which the fund invested in August 2018, specializes in just these kinds of technologies: the post-processing of 3D-printed polymer parts.
Partner Christian Reitberger said: “We usually invest EUR 1-3 million as lead or co-lead investor in Seed, Series A, possibly also Series B rounds and reserve significant further capital for subsequent rounds; we like to understand the underlying IP and favor cross-domain innovations, ie. bringing maturing technologies to new industrial applications – for example the application of new quantum technologies for sensor technology, the use of new computer architectures for hybrid high-performance computing, generative algorithms for design automation or photonic integration for medical technologies.”
The launch of the new btov Industrial Technologies Fund was supported by LfA Förderbank Bayern. Other public investors are NRW.BANK and the European Investment Fund. The fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe.