mi2-factory GmbH closes 2nd round of financing
Munich/Jena — mi2-factory GmbH closes a financing round and raises fresh capital in the upper 6‑digit range. The existing lead investor bm|t GmbH (Beteiligungsmanagement Thüringen) and three business angels from the Munich region are participating as investors. With the unique manufacturing technology, the so-called energy filter technology, of the mi2-factory, power microchip producers can manufacture their chips in an optimized way or create new types of chips.
The unique selling point of the mi2-factory is the highly defined processing of the base material of power microchips, which leads to cost and performance advantages for customers and enables completely new types of chips. These chips are made of the highly efficient material silicon carbide and are manufactured by mi2-factory’s customers to be used in particular in target applications for regenerative energy applications (e.g. photovoltaics, electromobility, wind power).
mi2-factory plans to invest the capital raised in the further development of product and manufacturing technology. The current financing round also came about with support from the BayStartUP investor network. “The professional support in the financing process by BayStartUP was outstanding. At the Munich BayStartUP Venture Conference in March, mi2-factory convinced me of its business idea,” says Friedrich Hecker, one of the private investors.
After the mi2 team got in touch with the investors of the 1st financing round at the Investor Days Thuringia, this time the startup additionally sought investors internationally — among others also in China. “Ultimately, the relationship of trust that we have developed with our investors, the terms and conditions, and the time horizon were key factors in our decision,” says Benjamin Tom, business management director and co-founder of mi2-factory.
Potential for basic technology
“So far, our biggest challenge has been to initiate comprehensive customer projects for forward-looking applications. Our next milestone will be the conclusion of development cooperations. In these, we want to establish the energy filter technology on the market as a basic manufacturing technology for the production of the next generation of power microchips,” reports Florian Krippendorf, technical managing director and co-founder of mi2-factory.
The material silicon carbide will gain great importance in the coming years, especially for microchips with high voltage classes. “Due to the lower power losses of silicon carbide compared to conventional silicon, silicon carbide microchips are needed in power lines, trains, electric cars, charging stations, photovoltaic and wind power plants,” explains Prof. Dr. Michael Rüb, strategist and co-founder of mi2-factory. “In addition to the advantage that silicon carbide chips are characterized by significantly lower losses than conventional silicon-based chips, they also enable significantly smaller modules and systems to be built than is possible with silicon. This reduces the volume and weight of power converters.”
BayStartUP is the Bavarian startup network for founders, investors and companies. With the Bavarian Business Plan Competitions, an extensive coaching offer and Germany’s largest investor network, it supports startups in optimizing their strategy, building their business and finding start-up or growth capital. For private and institutional investors, BayStartUP ensures a qualified deal flow and offers startup insights at exclusive business angel meetings and investor conferences. With nationwide startup industry matchings and conceptual offers, BayStartUP advises established companies on the development of suitable strategies for cooperation with startups. Through BayStartUP, founders have contact opportunities with more than 280 listed business angels, over 100 institutional investors and financing from €50,000 to €6 million. Each year, BayStartUP’s investor network brokers around €50 million to startups, especially in the early stages. www.baystartup.de
About mi2-factory GmbH
mi2-factory GmbH is a start-up from Jena (Thuringia) in the semiconductor sector founded in 2016. Core competence is the development and distribution of the so-called energy filter technology — a manufacturing technology for the processing of the microchip base material silicon carbide. mi2-factory’s proprietary energy filter technology reduces costs, increases performance and enables design innovation for high-efficiency wind power, photovoltaics and electric mobility. Customers of mi2-factory are well-known corporations from Europe, Japan and the USA, which produce power semiconductor components in high quantities. www.mi2-factory.com
About bm|t GmbH
bm‑t beteiligungsmanagement thüringen gmbh is the management company for currently eight investment funds. As a universal investment company for Thuringia, bm‑t invests in all high-yield sectors and in every phase of life of companies with a promising business model, from start-up to preparation for IPO or MBO/MBI. The bm‑t is a financial investor, which focuses on entrepreneurial types and founders and actively supports them. The bm‑t combines investment and active support through business consulting, structuring of financing concepts, and participation in committees of the companies. With a strong network, bm‑t supports its business partners as a coach and sparring partner. www.bm‑t.de