Siemens has invested in the Munich-based robot startup Magazine The group is taking over both the shares of the High-Tech Founders Fund – start-up financing of half a million euros was provided – as well as that of two other business angels, reports the Handelsblatt exclusive.
Magazino was designed by Frederik Brantner, Lukas Zanger and Nikolas Engelhard at the Technical University of Munich The three young entrepreneurs will continue to hold the majority of 50.1 percent and act as managing directors. Rudolf Freytag, head of Siemens Innovative Ventures, sees great potential in Magazino and the young startup's technology and explains Siemens' involvement to the Handelsblatt like this: “The field of autonomous systems is developing rapidly and is of great interest to us. We see considerable future potential in this for Siemens as a whole. To be involved as early as possible in the development of corresponding innovations, we have invested in the startup Magazino through Siemens Novel Businesses GmbH." And further: "We want to further expand Magazino’s business together with the highly motivated and excellent founding team.“
Moving forward together
Accordingly, Siemens now wants holds a 49.9 percent stake in the company, especially technological support. In addition, the company's good reputation opens the door to the market and new customers for Frederik Brantner and his partners. The founders and their team can also look forward to new or additional office space.
With Siemens, Magazino has found a comrade and supporter who can give both the technology and its marketing a significant boost. Frederik Brantner is satisfied: "We have rarely met anyone who understands what we do technologically as well as Siemens.“
Click here for Magazino Success Story.
