Millions for the digitalisation of construction machinery
The company Vemcon optimises the interaction between man, construction machine and tool and receives an invest of 6 Million Euros made by The Deep Tech & Climate Fonds (DTCF), as well as from several other companies in the construction industry. The result is a stronger independent digitalisation solution for construction machinery, which enables the industry to achieve higher efficiency, indirectly lower energy consumption, and reduce barriers for workers.
Munich, Bonn 25.05.2023. Vemcon is an innovation driver in the field of digitalisation of construction machinery and develops products and solutions for the interaction between man and construction machine. Vemcon’s core competence is simplifying the operability of construction machinery via driver assistance systems and optimising interfaces for every type of function, be it attachments, positioning solutions or cloud-based software analytics. The core product is an open platform with functions for controlling construction machinery, manufacturer- and user-specific apps running on it, and a cloud solution. All components can be individually combined by the user on a single display at any time, regardless of manufacturer, and can be expanded almost indefinitely. To ensure the openness and independence of the platform for the entire industry and to enable further growth in the scope of functions, the Munich-based company has now raised additional capital: The DeepTech & Climate Fonds (DTCF) as well as several other companies invest 6 million Euros.
Vemcon is using the newly acquired capital to expand the team, as well as market and develop its technology solutions further. Because the demand for networked solutions for digitalisation in the construction industry remains high — not least due to the glaring shortage of skilled workers. Vemcon founder & CEO Jan Rotard explains: “Our products relieve operators of difficult work processes so that they can work faster, safer and more precisely and learn work procedures more easily. At the same time, they offer construction companies automated and optimised processes, across machines and independent of manufacturers”. In order to remain in close proximity to the needs of the users, Vemcon has relied on close cooperation with the industry since its foundation in 2012.
Partners using the Vemcon platform include Epiroc, Hitachi, HKS, Holp, Kinshofer, Komatsu, KTEG, Leica/Hexagon, Lekatech, MTS und OilQuick. In order to help develop important standards for the digitized industry, Vemcon is also involved in the MiC 4.0 consortium and promotes the use of the standard.
The DTCF has set itself the task of financing the technology champions of the future and contributing to a new technology-based SME sector. In doing so, the team led by managing directors Dr Elisabeth Schrey and Tobias Faupel focused primarily on companies in the capital-intensive growth phase from the deep-tech and climate-tech sectors: “Our mission is to offer innovative technology companies long-term growth prospects, locally based” says Faupel. “Vemcon’s business model — to become a “CarPlay” for excavators, so to speak — works because many manufacturers of excavators and attachments rely on the Vemcon platform as a standard. To ensure that this continues in the future, the availability of the technology on the one hand and the independence of the company on the other must be guaranteed in the long term. The participation of industry partners as shareholders ensures access to technology. As a neutral and forward-thinking investor, we help to ensure Vemcon’s financial independence, and we look forward to our joined journey into the future.”
The investment helps Vemcon not only to further develop its technology, but also to grow as a company and to prevail against competition on a global scale.
IoT meets heavy machinery: Vemcon rethinks machine controls and simplifies processes on construction sites and in the handling of construction projects through digital solutions. Founded in 2012 by Jan Rotard and Julian Profanter, Vemcon solves fundamental challenges for its customers. Two examples of this are the reduction of costs on construction sites, and the optimizing of work processes, counteracting the shortage of skilled workers. Vemcon offers manufacturers uncomplicated new sources of revenue. Around 20,000 machines worldwide are equipped with Vemcon technologies. The customer base of the company, which has around 50 employees and is based in Munich, includes Kiesel, Kinshofer, MTS and Sennebogen. More information at www.vemcon.de.
About the DeepTech & Climate Fonds
The DeepTech & Climate Fonds (DTCF) is a new fund that invests in the growth of technology-based companies. It is financed with funds from the “Zukunftsfonds” and the ERP Special Fund and helps build the European ecosystem of tomorrow’s technology champions. To this end, the DTCF will invest up to one billion euros over the next years. As an anchor investor and partner to institutional investors and family offices, the fund helps ensure the development of commercially successful and independent technology companies and helps them establish themselves on the market. Since February 1st, 2023, the DeepTech & Climate Fonds has been operating out of Germany and across Europe. Managing Directors are Dr. Elisabeth Schrey and Tobias Faupel.
Lesley Kleine-Beck (MSLGroup)
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