Vemcon successfully completed its seed financing at the beginning of July, receiving a seven-figure sum. The investor, Vector Venture Capital GmbH, is a wholly owned subsidiary of Vector Informatik GmbH, the leading manufacturer of software tools and components for the development and networking of electronic systems. In addition to the funding, the company will receive easier access to major manufacturers of industrial machinery and the opportunity to draw on Vector products, services, and expertise.
“We are very proud”
This puts Vemcon in a very good position to further develop and extensively market its technologies for the control and (partial) automation of mobile work machines, such as excavators, graders, and wheel loaders. The company has already proven that this business concept is a success: Over 1,000 machines worldwide already use Vemcon technologies.
“We are very proud that we are already generating overwhelming interest from customers and investors with Vemcon technologies and services,”
says Jan Rotard, CEO of Vemcon.
"The seven-figure investment from Vector Venture Capital allows us to significantly increase our visibility in the market through marketing measures and product demonstrations, while simultaneously advancing the core elements of our technologies, namely the self-learning software and the connection to our cloud services."
A worthwhile investment
Uwe Gerlinger, Managing Director of Vector Venture Capital GmbH, says:
"Market experts estimate that around 4 million mobile machines are sold each year, and the global market for operator control devices for mobile machines has a volume of 2.5 billion euros. This business is being fueled by the trend toward digitalization. Vemcon technologies ensure that mobile machines are deployed with productivity increased by up to 60% and are driving the trend toward intelligent, autonomous machines. This puts the company well on its way to tapping into a large and profitable market. This, in turn, makes Vemcon a worthwhile investment for us."
