Dräger acquires majority stake in Hamburg-based start-up bentekk
April 3, 2017
Dräger Safety AG & Co. KGaA has acquired a 51 percent stake in bentekk GmbH from seed investors High-Tech Gründerfonds (HTGF) and Innovationsstarter Fonds Hamburg (IFH). This latest acquisition sees Dräger extend its expertise in the area of mobile gas measurement even further. bentekk, based in the south of Hamburg, specializes in developing innovative gas measurement devices for industrial applications.
bentekk’s X-PID product is a portable gas measurement device designed to quickly and accurately measure the presence of benzene and other carcinogenic organic compounds in the atmosphere. X-PID is the first handheld device to detect extremely low concentrations of compounds that were previously only detectable in a laboratory environment. The fast measuring device is predominantly used for clearance measurements during maintenance work and indicates if thresholds are being exceeded. Its primary area of application is monitoring maximum permissible concentrations of benzene in the workplace.
“bentekk has developed a solution that is absolutely unique in this form,” says Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. “By purchasing a majority stake in this company, we have gained a major advantage in terms of development over our competitors. The product perfectly complements our range of products for industry customers.”
Dräger’s customer intimacy and its international distribution and service network are invaluable to us,” says Johannes Weber, Managing Director of bentekk GmbH. We are looking forward to working together and forming a common future.”
Over the next few months bentekk will work on developing the product further together with Dräger. One of the main goals is to develop the device for use in atmospheres with a risk of explosion – a prerequisite for accessing additional application markets.
In March 2016, the start-up concluded a seed financing agreement with High-Tech Gründerfonds and Innovationsstarter Fonds Hamburg. The previous investors sell their shares as part of Dräger’s acquisition of a majority stake. “This transaction provides bentekk with the ideal partner to achieve broad market penetration with its products,” says Lucille Bonnet, Senior Investment Manager of HTGF. “We would like to wish the bentekk team all the best!” “We are delighted that the team behind this start-up has developed such an innovative and unique product in Hamburg,” adds Gencer Sahin, Investment Manager at IFH. “Gaining a strong partner like Dräger seems to have secured the success of the company over the long term.”
About bentekk GmbH
The company was founded in November 2014 as a spin-off of the Hamburg University of Technology. bentekk develops, produces and sells analytical measurement technologies for hazardous compounds in air. The gas measurement devices make use of a Industrial Internet of Things approach. In January 2016, the team led by chemical engineer Matthias Schmittmann and the industrial engineer Johannes Weber entered the German market with the product X-PID, which is since then gaining popularity in the German industry.
For more information visit www.bentekk.com
Dräger is an international leader in the fields of medical and safety technology. Dräger products protect, support, and save lives. Founded in 1889, Dräger generated net sales of over EUR 2.5 billion in 2016. The Lübeck-based company maintains a global presence and employs over 13,000 people.
About Innovationsstarter Fonds Hamburg
The Innovationsstarter Fonds Hamburg provides venture capital to young and innovative companies with its place of business in Hamburg. Aim is to strengthen research and development activities. Open participation in limited liability companies can reach up to 1 million Euros. Investors are in equal shares the city of Hamburg and the European Regional Development Fund (EFRE). The management of the fund is the IFB Innovationsstarter GmbH which is a 100% owned subsidiary of the Hamburgischen Investitions- und Förderbank. For more information visit www.innovationsstarter.com
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is Germany’s most active seed stage investor. With EUR 576 million under management (EUR 272 million HTGF I, EUR 304 million HTGF II), we provide financing for technology-driven companies active in a wide range of fields, including robotics, IoT and energy, Medtech and Biotech, chemicals and software. The seed financing provided is designed to enable start-ups to take their ideas through prototyping and to market launch. We typically invest EUR 600,000 in the seed stage, but can provide up to EUR 2 million in total financing per company in follow-on financing rounds. Furthermore, start-ups benefit from our team’s experience and expertise as well as HTGF’s extensive network of investors, experts, managers and scouts. Investors in this public-private partnership include the German Federal Ministry of Economics and Energy, the KfW Banking Group and numerous strategic corporate investors, including ALTANA, BASF, Bayer, B. Braun, Robert Bosch, CEWE, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Innogy, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, SAP, Tengelmann and Carl Zeiss.