Scale-up production, expand US -Sales: JENETRIC GmbH pursues ambitious goals with the third funding round
The German biometrics company was able to inspire its investors to participate in another investment round and win a new Business Angel
After a very successful year, the German biometrics company looks ahead into a financially secure future. JENETRIC’s investors confirmed additional funding for a third investment round. The company was supported by VENTRADA Corporate Finance GmbH in the planning of the new investment round.
“A strategy consequently focused on revenue and extension of the product portfolio has convinced us to once more invest into the powerful JENETRIC team”, said Karin Rabe, investment manager at bm|t, the investment company of the Free State of Thuringia.
Furthermore, the “High-Tech Gründerfonds (HTGF)“ wants to engage again. The JENETRIC management is particularly pleased that apart from Prof. Dr. Franz Schmidt another Thuringian business angel teams up. “I am looking forward to actively support the development of JENETRIC as new investor. I am convinced that the innovative products will not only become globally compatible but also gain a leading market position”, said Dr. Uwe Trautmann.
“Our investors’ trust inspires and motivates us further. With the additional funds we mainly want to expand our production capacity and hit the ground running in the U.S. market”, said Roberto Wolfer, one of the founders and CEO of JENETRIC. To provide their customers in the U.S. with the best possible service, the company plans to establish a subsidiary there next year. “The U.S.A. are pioneers and one of the most important markets for biometrics. For us the proximity to the critical multipliers of the industry is essential. This is the only way we can ensure the requirements for future biometric applications are captured in time and hence implemented in our products.”
The company already has two unique fingerprint scanners on the market: the LIVETOUCH® quattro with integrated user guidance and the very compact module LIVETOUCH quattro Compact for the integration into portable enrolment kits.
JENETRIC will expand its product range in the coming year. The future LIVETOUCH quattro Mobile will be the first product from the LIVETOUCH product family supporting the mobile enrolment of fingerprints.
JENETRIC GmbH was founded in 2014 in Jena, Germany - a location famous for cutting-edge optical technology - by engineers with longtime experience in fingerprint technology and has specialized on the development on biometric systems. The multidisciplinary team includes hardware and software specialists as well as production and sales professionals. The company is financed by the resources of the team, two business angels and by the “Thuringian Gründerfond” as well as by the „High-Tech Gründerfonds“. The company follows in its product development a holistic approach clearly oriented towards customer requirements - with the ambitious goal of improving the living and working conditions through the use of biometric systems.
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).
About bm|t beteiligungsmanagement thüringen gmbh
The Erfurt-based bm|t beteiligungsmanagement thüringen gmbh – a subsidiary of the Thüringer Aufbaubank – is the management company for six investment funds with a total volume of 250 m €. bm|t invests in innovative companies of all high-yield sectors and in all stages of a company’s life cycle, from start-up to IPO or MBO.