Deep-tech startup kiutra secures seven-digit seed investment

ESA BIC kiutra cooling device

ESA BIC Bavaria startup kiutra develops next-generation cooling devices for basic research, quantum technology, and detector applications based on magnetic cooling.

The deep-tech startup is the first company worldwide that is able to consistently provide very low temperatures close to absolute zero without the use of expensive and rare liquefied gases (“cryogens”). Cryogenic temperatures are a key prerequisite for research and development, and various industrial applications. In contrast to other state-of-the-art refrigeration methods for sub-Kelvin temperatures, kiutra’s magnetic cooling technology is scalable and allows for mass production, e.g. in the fast-growing quantum technology market.

A consortium comprising lead investor High-Tech Gründerfonds (HTGF), deep-tech VC investor APEX Ventures and the UnternehmerTUM Initiative for Industrial Innovators is investing a seven-figure sum in kiutra.

kiutra was founded in 2018 and joined the ESA BIC Bavaria on 1 January 2019. As part of its two-year incubation programme at the ESA BIC facilities in Oberpfaffenhofen, kiutra benefits from a comprehensive support package including financing, mentoring, business and marketing support as well as leading tech experts’ feedback and expertise.

Be as successful as kiutra and apply for ESA BIC Bavaria!

Join the Space of Innovation to lift your startup to the next level. The upcoming application deadline for the ESA BIC Bavaria incubation programme is 26 August 2019. Here, startups receive the financial and technical support they need to kick-start their business.

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About ESA Business Incubation Centre (BIC) Bavaria

ESA Business Incubation Centre (BIC) Bavaria promotes companies with disruptive products and digital businesses in areas such as robotics, mobile, mobility, automotive, aviation, satellites, etc. Since 2004, AZO has supported more than 155 startups with its ESA BIC Bavaria with an annual turnover of around EUR 150 million in 2018, creating more than 2,000 high-tech jobs in Bavaria and involving more than EUR 50 million in venture capital in 2018. What’s more, the first IPO of an ESA BIC alumnus took place in 2017. ESA BIC Bavaria is one of the most successful incubation programmes in Europe. Established in Bavaria in 2004 as the first European space incubator, AZO Anwendungszentrum GmbH Oberpfaffenhofen has been managing ESA BIC Bavaria since 2009 with financial support from the Bavarian Ministry of Economic Affairs and its first-class partners: European Space Agency (ESA), German Aerospace Center (DLR), Airbus, Fraunhofer Institute for Integrated Circuits IIS and KSK München-Starnberg-Ebersberg. For more information, please visit www.esa-bic.de

Read the entire press release here.

Lena Nietbaur is enthusiastic about spreading the word on the potentials of technology esp. space tech for business and society. As Marketing & Communications Manager at AZO, she is involved within the internal and external communications for the international innovation competitions, app developer camps and ESA BIC Bavaria.

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