TechFounders Batch #8 Alumni Remberg Receives €11M in Serie A Funding
On February 8, Industry 4.0 startup Remberg completed a Series A financing totalling €11 million, winning the confidence of several impressive names as angel investors. The round was led by Earlybird and joined by existing shareholders Speedinvest and Fly Ventures and angel investors.
The latest funding builds upon Remberg’s successful €2 million seed financing in late 2019. The fresh cash injection will be used to build on the startup’s already impressive sales numbers and to develop its software. Hanno Renner, co-founder and CEO of Personio, and Bastian Nominacher, co-founder of the first German decacorn Celonis, were among the investors who provided new capital during the funding round.
Remberg’s technology helps medium-sized machine builders seeking to digitize their processes to become “digital champions” in the age of IoT. The Munich-based startup aims to help its customers put an end to paper trails and keep Excel lists to a minimum in everyday work.
With its so-called XRM system (extended-relationship-management), Remberg has taken the CRM approach for managing customer relationships to a new level, making it applicable for machines in the IoT. Through its digital platform, Remberg centralizes the processes in medium-sized machine-building companies. The software gives a company an overview of their inventory in the cloud by accumulating all the relevant master data about equipment from existing IT systems. It also enables companies to solve service requests faster as well as plan assignments and orders more clearly.
The platform also offers a digital 360® view of a business’ contacts, such as customers, partners, and other organizations. The product allows OEMs (original equipment manufacturers) to manage products already sold and digitize their after-sales offers. This enables medium-sized machine-building companies to achieve significantly better customer loyalty and product margins.
Remberg was founded in 2018 by David Hahn, Julian Madrzak, Hagen Schmidtchen and Cecil Wöbker when they met at the Centre for Digital Technology & Management (CDTM), a joint research institute between the Technical University of Munich and the Ludwig Maximilian University. Remberg took part in Batch #8 of the TechFounders startup accelerator program, collaborating on a pilot project with Festo as its corporate partner.