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The New 'Hidden Champions' in Industrial Tech

The top 10 startups of a new generation of industrial tech companies have raised more than $1 Billion in capital. Much of the innovation is centered around software; half of the top 10 as a stand-alone play and the others leveraging software to innovate in IIoT and robotics. The next ten candidates have already been funded to the tune of $400 Million.

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Confidential
WUNDERVC
The New ‘Hidden Champions’
in Industrial Tech
Christian Dahlen, July 2023
Confidential
WUNDERVC 2
Summary
• The top 10 startups of a new generation of industrial tech companies
have raised more than $1 Billion in capital
• Much of the innovation is centered around software; half of the top 10
as a stand-alone play and the others leveraging software to innovate in
IIoT and robotics
• Nine of the top 10 are founder led
• Seven of the top 10 are in or around Munich
• Three of the top 10 were founded in 2012; the last in 2019
• Seed rounds were funded locally; growth capital comes from
international investors
• The next ten candidates have already been funded to the tune of $400
Million
Confidential
WUNDERVC 3
The Top Ten Industrial Tech Startups Have Raised >$1 Billion
• Agile Robots has raised
$270M within 4 years.
This is the highest funding
velocity in $/year.
• 6 of the top ten
companies raised in
2022.
• The last funding round
was announced in May
2022.
$54.2
$57.2
$71.5
$79.1
$86.0
$106.0
$120.8
$130.0
$130.6
$270.1
HiveMQ
Simscale
Twaice
Emnify
Neura Robotics
NavVis
Wandelbots
Kinexon
Konux
Agile Robots
Confidential
WUNDERVC 4
Half of The Top Ten Are Software Only Companies
IIoT
• Konux
• Kinexon
• Emnify
5
3
2
Software
• Wandelbots
• NavVis
• Twaice
• Simscale
• HiveMQ
Robotics
• Agile Robots
• Neura Robotics
Confidential
WUNDERVC 5
9 Of The Top Ten Are Led By Their Founders
Confidential
WUNDERVC 6
7 Of The Top Ten Are In Bavaria, And In Or Close To Munich
Metzingen
• Neura Robotics
Dresden
• Wandelbots
Munich
• Agile Robotics,
• Konux
• Kinexon
• NavVis
• Twaice
• Simscale
Landshut
• HiveMQ
Berlin
• Emnify
Ad

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The New 'Hidden Champions' in Industrial Tech

  • 1. Confidential WUNDERVC The New ‘Hidden Champions’ in Industrial Tech Christian Dahlen, July 2023
  • 2. Confidential WUNDERVC 2 Summary • The top 10 startups of a new generation of industrial tech companies have raised more than $1 Billion in capital • Much of the innovation is centered around software; half of the top 10 as a stand-alone play and the others leveraging software to innovate in IIoT and robotics • Nine of the top 10 are founder led • Seven of the top 10 are in or around Munich • Three of the top 10 were founded in 2012; the last in 2019 • Seed rounds were funded locally; growth capital comes from international investors • The next ten candidates have already been funded to the tune of $400 Million
  • 3. Confidential WUNDERVC 3 The Top Ten Industrial Tech Startups Have Raised >$1 Billion • Agile Robots has raised $270M within 4 years. This is the highest funding velocity in $/year. • 6 of the top ten companies raised in 2022. • The last funding round was announced in May 2022. $54.2 $57.2 $71.5 $79.1 $86.0 $106.0 $120.8 $130.0 $130.6 $270.1 HiveMQ Simscale Twaice Emnify Neura Robotics NavVis Wandelbots Kinexon Konux Agile Robots
  • 4. Confidential WUNDERVC 4 Half of The Top Ten Are Software Only Companies IIoT • Konux • Kinexon • Emnify 5 3 2 Software • Wandelbots • NavVis • Twaice • Simscale • HiveMQ Robotics • Agile Robots • Neura Robotics
  • 5. Confidential WUNDERVC 5 9 Of The Top Ten Are Led By Their Founders
  • 6. Confidential WUNDERVC 6 7 Of The Top Ten Are In Bavaria, And In Or Close To Munich Metzingen • Neura Robotics Dresden • Wandelbots Munich • Agile Robotics, • Konux • Kinexon • NavVis • Twaice • Simscale Landshut • HiveMQ Berlin • Emnify
  • 7. Confidential WUNDERVC 7 Three Companies Were Founded in 2012, The Last in 2019 2012 HiveMQ, Kinexon, Magazino 2013 NavVis 2014 Konux, Emnify 2015 2016 2017 Wandelbots 2018 Agile Robots, Twaice 2019 Neura Robotics
  • 8. Confidential WUNDERVC 8 Seed Funding is Local; Later Stage Funding International • Seed funding for the top ten has been provided by investors in Germany • Series C has been entirely financed by international investors 10 5 2 5 6 6 2 Seed Series A Series B Series C Series C+ D International
  • 9. Confidential WUNDERVC 1. Agile Robotics 9 WUNDERVC • $270 Million raised • Agile Robots is an intelligent robot system development and application service provider. The core products include 7-degree-of- freedom lightweight arm and general-purpose robot controller and robot vision system. • Founded in 2018 • CEO and founder: Zhaopeng Chen
  • 10. Confidential WUNDERVC 2. Konux 10 WUNDERVC • $131 Million raised • KONUX is the first AI scale-up offering predictive maintenance, network usage, monitoring and planning solutions for railway infrastructure. • Founded in 2014 • CEO: Adam Bonnifield
  • 11. Confidential WUNDERVC 3. KINEXON 11 WUNDERVC • $130 Million raised • KINEXON translates physical worlds into digital twins so that it can capture, optimize and automate processes. The insights and results power organizations in manufacturing, logistics and sports. • Founded in 2012 • CEO and co-founder: Oliver Trinchera
  • 12. Confidential WUNDERVC 4. Wandelbots 12 WUNDERVC • $121 Million raised • Wandelbots is a robotic software company. With its unified Wandelbots Developer Platform, the company enables the programming free and uniform operation of robots. • Founded in 2017 • CEO and co-founder: Christian Piechnick
  • 13. Confidential WUNDERVC 5. NavVis 13 WUNDERVC • €96.4 Million raised • NavVis enables service providers and enterprises to capture and share the built environment as photorealistic digital twins. • Founded in 2013 • CEO and co-founder: Felix Reinshagen
  • 14. Confidential WUNDERVC 6. Neura Robotics 14 WUNDERVC • $86 Million raised • NEURA Robotics’ mission is to expand the skill set of collaborative robots with cognitive capabilities so that they can work with humans in existing environments without having to invest in complex and costly safety systems. • Founded in 2019 • CEO and founder: David Reger
  • 15. Confidential WUNDERVC 7. Emnify 15 WUNDERVC • $79 Million raised • Emnify is the leading cloud building block for cellular communications in the IoT stack, connecting millions of IoT devices globally • Founded in 2017 • CEO and founder: Frank Stoecker
  • 16. Confidential WUNDERVC 8. Twaice 16 WUNDERVC •$71.5 Million raised •TWAICE is a battery company developing analytics software that addresses the transparency and predictability of batteries. •Founded in 2018 •CEO and co-founder: Stephan Rohr
  • 17. Confidential WUNDERVC 9. Simscale 17 WUNDERVC • €52 Million raised • SimScale is a web-based 3d simulation platform. • Founded in 2012 • CEO and Co-founder: David Heiny
  • 18. Confidential WUNDERVC 10. HiveMQ 18 WUNDERVC • €49.3 Million raised • HiveMQ empower businesses to succeed in a connected world by providing data movement technology for fast, efficient & secure communication. • Founded in 2012 • CEO and co-founder: Christian Meiner
  • 19. Confidential WUNDERVC 19 The Next Top Ten • 8 companies have raised in 2022 • The last funding round was announced in December 2022 • Proglove was acquired Nordic Capital in 2022 $31.4 $32.5 $33.4 $36.9 $38.9 $40.5 $44.0 $48.7 $49.1 $49.3 3YOURMIND German Bionic Celus ProEmion Micropsi Industries DyeMansion fruitcore robotics Synapticon Proglove Magazino
  • 20. Confidential WUNDERVC The top ten startups of a new generation of industrial tech companies have raised more than $1 Billion in capital Much of the innovation is centered around software, either as a stand-alone play or leveraging software to innovate in IIoT and robotics The next ten candidates have already been funded to the tune of $400 Million
  • 21. Confidential WUNDERVC Scope 21 • Included: Robotics, IIoT, Software (data analytics, workflow and project mgmt., workforce management, simulation, market places, AR/VR, engineering tools, after sales support), new materials, additive manufacturing (AM) • Excluded: Logistics, construction, drones, cyber security, energy, procurement solutions