fos4X has a new anchor investor – Internationalization, scaling and expansion of digital business
June 15, 2018
fos4X has concluded a growth financing (Series B) of 8.2 mn Euro (USD 10 mn). Equinor, formerly Statoil, strengthens the group of shareholders
Sensor platform and digital business
Fiber optic sensor technology is the company’s nucleus from which the successful product busi-ness with its sensor platform fos4Blade was developed. fos4Blade is a modular measuring sys-tem to acquire different physical quantities of wind turbine rotor blades.
With the help of sensor data fusion, classical model-based methods and methods of machine learning, the software applications of fos4X calculate input variables for the control and opera-tion optimization of wind turbines. These edge-computing solutions process the incoming raw data of the fos4X sensors and other system sensors on the turbine under safety-relevant condi-tions and feed it into the turbine control.
Starting position is profitable growth
fos4X supports all of the top 10 wind turbine manufacturers and has established fast growing series deliveries with some of them. So far, fos4X has applied for more than 100 patents around technology, sensors and applications. This makes fos4X an important driver of the digitalization of the wind energy industry.
However, the solutions are also used successfully in other industries: for instance, fiber-optic sensors are used for temperature measurement in e-mobility. Thales, Volkswagen, Daimler, Sie-mens, GE, Envision, Goldwind, SMS Siemag and many other international leaders in their indus-tries are successfully using fos4X products.
With positive operating results and strong growth in the product business, the basis for further international growth and the expansion of the digital business was laid in recent years.
Equinor invests in sensor technology and digital competence
In addition to all previous investors (BayernKapital, Falk Strascheg Holding, High-Tech Grün-derfonds, Unternehmertum Venture Capital Partners and Business Angels), Series B growth fi-nancing was supported by the new main investor Equinor. Equinor is a Norway based energy company with operations in more than 30 countries. As part of Equinor’s strategy to actively complement its oil and gas portfolio with profitable renewable energy sources, the company has developed a sizeable offshore wind portfolio.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start- ups. With EUR 892,5 million in total investment volume across three funds (EUR 272 million in HTGF I, EUR 304 million in HTGF II and EUR 316,5 million for HTGF III) and an international network of partners, HTGF has already helped forge 500 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and start-up experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in a range of sectors, including software, media, internet, hardware, automation, health care, chemicals and life sciences.
This group also includes a number of success stories, such as Mister Spex, Rigontec, 6Wunderkin- der, Next Kraftwerke and Cumulocity, as well as Juniqe, an online shop for art enthusiasts. To date, external investors have injected over EUR 1.5 billion into the HTGF portfolio via more than 1,200 follow-on financing rounds. HTGF has also successfully sold interests in more than 90 companies.
Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Banking Group, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik and WACKER and Wilh. Werhahn KG.