Seven-digit investment from Vector Venture Capital will enable technology development and offensive marketing
ESA BIC Bavaria congratulates our alumni Vemcon to their new investment. Vemcon, the expert in the control and (partial) autonomisation of mobile work machines, successfully completed seed financing at the beginning of July and received a seven-figure investment. The investor Vector Venture Capital GmbH is a wholly owned subsidiary of Vector Informatik GmbH, the leading manufacturer of software tools and components for the development of electronic systems and their networking. In addition to funding, Vemcon will also have access to major manufacturers of work machines, as well as to Vector products, services and expertise. This means that Vemcon is outstandingly well positioned to further develop and market its technologies for the control and (partial) autonomization of mobile working machines, such as excavators, graders and wheel loaders. The company has already proved that the business concept is sound: more than 1,000 machines worldwide now use Vemcon technologies.
“We’re very proud that Vemcon technologies and services are already generating an overwhelming interest among customers and investors,” says Jan Rotard, CEO of Vemcon. “Vector Venture Capital’s seven-figure investment allows us to significantly increase our visibility in the market with marketing and product demonstration, while simultaneously driving the core elements of our technologies, self-learning software and cloud service connectivity.”
“Market experts estimate that around 4 million mobile work machines are sold every year, and that the global market for mobile machines operating devices is worth 2.5 billion Euro. The trend towards digitalisation is fuelling the business. Vemcon technologies give work machines a productivity increase of up to 60% and is driving the trend towards intelligent, autonomous machines. As a result, the company is well on the way to opening up a large and profitable market. “This in turn makes Vemcon a worthwhile investment for us,” explains Uwe Gerlinger, CEO of Vector Venture Capital GmbH.
Domiciled in Haar near Munich, Vemcon GmbH is the expert for the control and (partial) autonomisation of mobile working machines such as excavators, graders, wheel loaders as well as agricultural and communal machines. Its core competency lies in the simplification of machine control through the combination of driver assistance and intuitive ergonomics as well as the use of self-learning software and customer cloud services. This allows a machine operator to work much more safely, faster and more accurately with their machine, and increases the productivity of the mobile work machine. On the road to semi-autonomous and autonomous work machines, the company uses expertise, experience and research in the areas of hardware, software and electronics.
The company was founded in 2012 and has 20 employees at the Haar near Munich location. The company counts OEMs, dealers, suppliers and users of work machines among the customers for its Vemcon system platform (main components: self-learning “NORA” software, sensors, high-performance control unit, joystick, cloud connector).
About the Vector Group
As a 100% subsidiary of Vector Informatik, VVC Vector Venture Capital GmbH supports young companies in their first steps towards economic independence. VVC evaluates the potential of business ideas in a selection process and provides young entrepreneurs with the support they need. This ranges from financial participation, to the provision of workplace infrastructure, to the mediation of contacts and presentation possibilities as part of events and congresses.
As a specialist in electronics development in the automotive industry, Vector is closely linked to automotive manufacturers and suppliers worldwide and therefore has unique industry access. This provides startups with special cooperation and development opportunities.
Further information for media representatives can be obtained from:
D-85540 Haar bei München
+49 (0) 89 / 21545847-4
*Press release dated 13.07.2017 Vemcon GmbH