The Munich startup fos4x has raised €8.2 million in its Series B financing round. Bayern Kapital and other existing investors such as Falk Strascheg Holding, High-Tech Gründerfonds, Unternehmertum Venture Capital Partners, and several business angels participated. A new investor is the Norwegian oil and gas company Equinor, which strengthens the financing round as an anchor investor.
fos4X was founded in 2010 as a spin-off of the Technical University of Munich. The company uses fiber optic measurement technology to make wind turbines more intelligent and wind energy generation more efficient. The specially developed sensors can be used to optimize rotor blade utilization and maintenance, as well as wind coupling in wind turbines.
fos4x wants to drive internationalization
In recent years, the startup has established itself as a leading German provider of fiber optic technology for the wind energy industry. The capital from the current financing round will be used to accelerate fos4x's internationalization in the rapidly growing wind energy market. The Munich-based company also aims to advance the digitalization of the wind energy industry with its sensor platform.
"We are extremely pleased with the circle of investors involved in our company. Thanks to this support, fos4X is already a key driver of the digitalization of the wind energy industry and will continue to advance its position and technology with the help of the new capital,"
so Lars Hoffmann, CEO of fos4X.
Existing investor Bayern Kapital is impressed by the development of the young company. Roman Huber, Managing Director of Bayern Kapital, says about the renewed investment:
"Participation in the current financing round will help the company stay on track for success and continue its growth trajectory. With the new capital, we will finance the strong growth and expansion of our product portfolio."
