TechFounders’ Batch #12 alumni startup Fernride has just announced raising over seven million in Series A funding. The funding round was led by 10x, one of the TechFounders venture capital partners, with the participation of their previous investors.

Fernride, a spin-off from the world-leading research lab for teleoperation at the Chair of Automotive Technologies at the Technical University of Munich (TUM) has been developing the leading teleoperation platform which allows humans to safely remote monitor, assist, and control vehicles from afar. The Munich-based startup has attracted various investors and customers and received multiple recognitions, including the de:hub award in January 2020 for Germany’s most-promising start-up across all categories and industries. By letting human drivers access autonomous vehicles as a backup via virtual reality, Fernride aims to make autonomous mobility safe and scalable.

Fernride is an outstanding example of a startup that has benefitted from the all-around support and services UnternehmerTUM offers for entrepreneurs. Hendrik Kramer, Co-founder of Fernride, started as a participant of Manage and More where he met his mentor Andreas Kunze, founder of KONUX (TechFounders Batch #1 alumni startup). After founding Fernride together with Jean-Michael Georg and Maximilian Fisser, the team participated in the 3-month incubator program XPRENEURS which helped the young company to refine their business model. In addition, the company received early-stage investment through the Initiative for Industrial Innovators who financed their first prototype and the Digital Hub Mobility supported the team with industry contacts. In 2020, the startup was accepted into the TechFounders accelerator program and received individual coaching and mentoring in various topics to further develop their innovation and business, supporting them on their journey to become investor ready.

The Munich-based startup has now closed its first institutional funding round of €7.1 million. It follows a pilot project with logistics service provider DB Schenker. The round was led by 10x Group with participation from existing investors, including the Speedinvest, Promus Ventures, Olivier Bonnet (CTO of BlaBlaCar) and Fly Ventures.

Read Handelsblatt’s article about the funding here:

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Check out all the TechFounders alumni startups here.