High-Tech Gründerfonds invests in Fraunhofer Spin-Off wetransform
February 13, 2017
The High-Tech Gründerfonds invests in wetransform, a start-up that builds a cloud solution for particularly easy data transformation and migration.
Tasks such as environmental protection and disaster recovery require cross-border collaboration. Often, necessary collaboration suffers due to missing, interoperable data. wetransform helps organisations that need to work together to make data interoperable, with just a fraction of the effort and cost required previously. Thorsten Reitz, founder of wetransform, explains „With our cloud platform, you can create and use interoperable data from existing databases or previously implemented interfaces in minutes”. The solutions developed by wetransform enable the fast transformation of large, complex data collections, with low effort for configuration and dedicated risk management.
The company, founded in 2014, is a spin-off of the Fraunhofer Institute for Computer Graphics Research (IGD), an organisation with more than 30 years of applied research experience. At Fraunhofer, the founding team contributed in a leading role to numerous EU research projects to build the „Infrastructure for Spatial Information in the European Community“ (INSPIRE). Throughout Europe, more than 13.600 organisations will implement this spatial data infrastructure and will invest up to 170 million Euro per year. This projects needs to be completed until 2020. After the initial set-up, the infrastructure is expected to show its value for economy and administrations. A cornerstone of the infrastructure is that all public spatial data will be made accessible continuously in the most recent version.
The ambitions of wetransform go far beyond one infrastructure project, though: The team, consisting of experienced software engineers and innovation managers, is already working to make their technology useable for other project and markets as well. They are combining their transformation tools with a new generation of data modelling tools. The market volume for such applications in Europe and North America is at least 500 Million Euros per year. wetransform GmbH has already convinced many customers and partners through their products and high service quality. Their customers include organisations such as “GDI Südhessen”, the „European Environmental Agency“, and the Swiss „Bundesamt für Landestopografie swisstopo“.
In addition to their advanced technology, the founding team‘s entrepreneurial spirit was one of the key reasons for the High-Tech Gründerfonds (HTGF) to invest in wetransform. „The market for spatial data systems (GIS) is growing in the double digits every year, and the increasing need for effective data transformation and publishing tools form great development potentials for wetransform“, says Dr. Marc Umber, Investment Manager at the HTGF. „As Germany’s largest and most active early stage venture capital investor, the investment was a logical step for us. “
wetransform gmbh is a Fraunhofer Spin-Off based in Darmstadt, Germany, founded in 2014. We are a group of experienced software engineers, geospatial experts and innovation managers who worked in data harmonisation for more than 10 years. In our current projects, we support the maintenance and implementation of standards such as INSPIRE, ISO 191xx, ECH, OGC and many more through our unique data modeling and data transformation technology. We deliver easy to use, cutting-edge, scalable, robust and accessible solutions, with a focus on geospatial information.
About High-Tech Gründerfonds
High-Tech Gründerfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gründerfonds invests EUR 600,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Energy, the KfW Banking Group, as well as 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. High-Tech Gründerfonds has about EUR 576 million under management in two funds (EUR 272 million HTGF I, EUR 304 million HTGF II).