VISUS Industry IT: Financing from NRW.BANK and HTGF
Bochum — Gründerfonds Ruhr, NRW.BANK and High-Tech Gründerfonds (HTGF) invest a seven-figure sum in VISUS Industry IT. With its JiveX NDT test data and report management system, the start-up from Bochum digitizes industrial test processes end-to-end; results can be archived in a standardized manner.
In quality assurance, materials testing, inspection and maintenance of safety-relevant components or systems, digital work is still not used throughout. In many cases, test results are only available on paper or, in the field of radiography, on analog X‑ray film. This important data about the internal condition of components or systems is therefore not available to further (digital) systems.
This is exactly where VISUS Industry IT comes in with JiveX NDT and closes existing gaps between inspection planning systems of quality assurance, maintenance and inspection. Images, test reports and test documents are stored in JiveX NDT in an audit-proof, but above all standardized DICONDE format. The structured data pool in JiveX is thus a qualified basis for teaching artificial intelligence systems.
In a pilot project, JiveX NDT successfully trained an artificial intelligence to evaluate welds. The cumulative detection rate of multiple error types was over 90%. With the JiveX NDT system, VISUS Industry IT wants to support inspectors and testers in the daily evaluation of test results, integrate IT systems and test equipment, and be the audit-proof archive and data pool for artificial intelligence systems.
About VISUS Industry IT GmbH
VISUS Industry IT GmbH is a spin-off of VISUS Health IT GmbH from the healthcare sector. After evaluating the industrial market, VISUS Industry IT was founded in January 2018 and took over the software licenses for the JiveX system established in medicine from the parent company for use in industry. After successful adaptations and extensions of the software, VISUS Industry IT has a product ready for sale. The investors’ money will be used to invest in the further development of JiveX NDT and, in particular, in sales and marketing. Customers from the energy, oil & gas, mechanical engineering and testing services sectors have already been acquired. More customers, including in the chemical, automotive and aerospace sectors, are expected to follow in 2020.
About the Gründerfonds Ruhr
The Gründerfonds was initiated jointly by Initiativkreis Ruhr and NRW.BANK and is the first private-sector early-stage fund in the Ruhr region financed by regional industrial and financial companies. The fund invests in innovative and technology-oriented companies from the life science & health, digital economy, chemicals & new materials, energy & industry, and logistics & trade sectors. Prerequisites are good growth and exit prospects as well as competent management. As a multi-corporate early-stage fund, it also opens up key industry access points for the respective portfolio companies.
NRW.BANK is the development bank for North Rhine-Westphalia. It supports its owner, the state of NRW, in its structural and economic policy tasks. In its three promotion fields “Economy”, “Housing” and “Infrastructure/Municipalities”, NRW.BANK uses a broad range of promotion instruments: from low-interest development loans to equity financing and advisory services. It works together with all banks and savings banks in NRW on a competition-neutral basis. In its promotion activities, NRW.BANK also takes into account existing offers from the federal government, the state and the European Union.
About High-Tech Gründerfonds (HTGF)
The seed investor High-Tech Gründerfonds (HTGF) finances technology startups with growth potential. With a total volume of EUR 895.5 million distributed across three funds and an international partner network, HTGF has already supported more than 560 startups since 2005. His team of experienced investment managers and startup experts supports the young companies with know-how, entrepreneurial spirit and passion. The focus is on high-tech start-ups in the software, media and Internet sectors, as well as hardware, automation, healthcare, chemicals and life sciences. More than EUR 2 billion in capital has been invested in the HTGF portfolio by external investors in more than 1,400 follow-on financing rounds to date. The fund has also successfully sold shares in more than 100 companies.
Investors in the public-private partnership include the German Federal Ministry for Economic Affairs and Energy, KfW Capital, the Fraunhofer-Gesellschaft and the business enterprises ALTANA, BASF, Bayer, Boehringer Ingelheim, B.Braun, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.