Quarton, A Cowen Company (“Quarton”) exclusively advised the car digitization specialist Twinner GmbH (“Twinner”) on a capital increase financed by IBG Risikokapitalfonds III, which is managed by bmp Ventures AG (“bmp Ventures”). Together with other business angels, bmp Ventures invests an amount in the double-digit million Euro range from the fund.
Twinner, founded in Halle (Saale) in 2017, develops and distributes hardware and software for the digitization of vehicles. Based on the latest sensor technologies and the latest knowledge from AI research, Twinner generates a digital twin (Digital Twinn®) of cars within a very short time and provides all the data required to determine the condition of a vehicle. The vehicle is driven into a Twinner®Space, where it is completely digitized and photographed with the help of a multisensor field. This not only significantly simplifies and accelerates the sale of used cars, but also accompanying processes such as the financing and the insurance of vehicles.
With the money provided by the investors, the further development of the Software-as-a-Service (SaaS) will be secured and product distribution will be expanded. It is Twinner’s aim to market the Twinner®Space worldwide and thus close a significant gap in all existing digital value chains in the automotive sector.
Dr. Jan Alberti, CEO of bmp Ventures, said: “The Twinner is the only provider of an automated and complete digitization solution to capture an entire vehicle. The digital 3D model of a vehicle created by Twinner technology can be used for damage and value assessment or online marketing and enables new business models in the field of re-marketing used cars. The company with more than 50 employees in Halle has managed to bring a high-quality industrial product to the market. The successful market entry and the enormous market potential convinced us once again to invest in Twinner GmbH together with co-investors.“
Geert Peeters, Managing Director of Twinner GmbH, is pleased with the success of the capital increase. “We would like to thank Quarton for their competent and targeted advice throughout the entire process. The financing will enable us to further develop the Twinner and to sell it worldwide.“
Twinner is a game changer for the automobile trade. The Twinner mission is to digitally map vehicles, decouple vehicle inspections from time and place and thus usher in a new era of transparency, security and trust in one of the world’s largest trading markets. Twinner produces an unprecedented data set from each vehicle, a true digital twin. With a Digital Twinn, the customer sees more virtually than when standing in front of the car itself. Maximum objectivity: simple, fast, at a glance – or as expressed by the motto: “More than you can see”. The start-up from Halle already employs a team of over 150 experts worldwide, all of whom have extensive experience in the automotive, start-up and innovation sectors.
The IBG funds based in Magdeburg are the venture capital funds of Saxony-Anhalt. The IBG funds provide equity capital to innovative companies with sustainable and above-average growth potential and a domicile/operation in Saxony-Anhalt. At the beginning of 2017, IBG launched the new risk capital fund RKF III with a volume of EUR 84 million. The fund is financed by funds from the state and the European Union and invests in innovative companies in Saxony-Anhalt in the business phases of seed, start-up and growth. The IBG funds are managed by bmp Ventures AG, Berlin and Magdeburg.
With an experience background of over 250 investments from nearly all technology segments, most of which in the early stages, bmp is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp has also managed venture capital funds for the KfW banking group and DEG – Deutsche Investitions- und Entwicklungsgesellschaft. bmp currently manages the IBG funds in Saxony-Anhalt and the Frühphasenfonds Brandenburg. bmp has around 20 employees in Berlin and Magdeburg.