S‑UBG and NomaInvest: New financing round for Picavi
Aachen/Herzogenrath — S‑UBG AG participates with its funds “Seed Fonds II für die Region Aachen” and “S‑VC” in the seven-digit growth financing for Picavi GmbH. The funding round is led by Belgium-based NomaInvest and supplemented by contributions from founders, management and another business angel.
The aim of the financing round is to accelerate the international growth of the high-tech company, which was founded in 2013. “We have accompanied the development of Picavi since its inception and look forward to supporting the innovative company as an investor and partner in the next stage of its growth,” says Harald Heidemann, CEO of the S‑UBG Group.
Efficient picking using assisted reality data glasses
Picavi has revolutionized the market for picking systems with Pick-by-Vision, a specialized, data glasses-based software solution for warehouse processes. The modern technology enables visual guidance (assisted reality) of warehouse employees during the picking process. The solution is now used by internationally active companies such as FIEGE, DocMorris, Bertelsmann, Heinemann and Neovia and increases efficiency in logistics processes by up to 20 percent compared to other systems.
As a long-standing Google Glass partner, Picavi is a global pioneer in the use of the second generation Glass Enterprise Edition, newly launched by Google in May 2019. Google’s new data glasses enable even more performance through the latest processor technology with Picavi’s software components tailored to them. “With Glass Enterprise 2, we offer our customers state-of-the-art data glasses with increased performance for even more efficiency in order picking using our pick-by-vision solution,” said Jens Harig, CEO of Picavi.
Financing for international growth
Picavi intends to use the fresh capital to drive its sales growth and further internationalization. The first reference customers in the USA were followed by the foundation of Picavi Inc. in Chicago, Illinois in February of this year. Through the establishment of the wholly owned subsidiary, the high-tech company is now planning further market development in the USA. But Picavi is also growing in Europe with many new projects.
About the S‑UBG Group
The S‑UBG Group, Aachen, is the leading partner in providing equity capital for established medium-sized companies (S‑UBG AG) and young, technology-oriented start-ups (S‑VC GmbH) in the economic regions of Aachen, Krefeld and Mönchengladbach. S‑UBG AG invests in growth sectors; high quality of corporate management is a key investment criterion for the investment company. In 1997, the shareholder savings banks established an early-stage fund under S‑VC GmbH to finance startups. In 2007, the Seed Fonds I Aachen was added, expanding the range to include equity capital for technology-oriented start-ups. After it was fully financed, a new fund (Seed Fonds II Aachen) was set up in 2012. The third seed fund generation started at the beginning of 2018. The S‑UBG Group currently has investments in over 40 companies in the region and manages approximately €100 million. Further information: www.s‑ubg.de
About Seed Fonds II Aachen
Seed Fonds II Aachen was established in March 2012 as the successor to the fully financed Seed Fonds I Aachen (investment period: 2007–2011) as a follow-up fund from NRW.BANK’s Seed Fonds Initiative. In addition to NRW.BANK, Seed Fonds II Aachen is financed by Sparkasse Aachen and DSA Invest GmbH, which is backed by Aachen-based DSA Daten- und Systemtechnik GmbH. The Seed Fund provides young companies in the start-up phase with the necessary equity capital and thus stimulates the development of future-oriented technologies in the Aachen economic region. In 2018, the seed fund was launched for the third time and for the first time also includes the Mönchengladbach region, as the circle of investors has expanded to include Sparkasse Mönchengladbach.
Behind the operational management of the fund (FM Fonds-Management für die Region Aachen Beteiligungs-GmbH) are the investment experts of the S‑UBG Group. The investment company of the savings banks in the Aachen, Krefeld and Mönchengladbach area looks back on more than 30 years of experience in financing medium-sized companies and technology-oriented start-ups.