Giesecke+Devrient is founding Build38, a startup for app security. The independent corporate spin-out is located in the startup center Plant1 home.
Giesecke+Devrient (G+D), a globally active Munich-based security technology group originally known as a banknote specialist, has founded a spin-out for app security. Build38 aims to further develop and distribute the group's offering for mobile software security and app intelligence. The startup's offering is aimed at app developers and large enterprises. Based on new functions for security, control, connectivity, and reporting, customers should be able to develop their solutions for iOS and Android faster and more cost-effectively.
Customers from Automotive, Transit and ID are already on board
The startup already has European and Asian customers in the automotive, transit, and identity sectors. The company is headquartered at its Munich plant 1; a sales subsidiary is located in Singapore and its own development team is located in Barcelona. Christian Schläger, previously Group Vice President of G+D, serves as Managing Director of the spin-out.
The startup, which is backed by eight founders, is initially funded by G+D Ventures. G+D's VC arm has also invested in the fintech IDnow invested. The plan for Build38 over the next two years is to attract additional investors and thereby grow even faster.
“Through Build38, we are turning an important niche topic of our group into the core topic of our own company,”
said Build38 Managing Director Dr. Schläger.
Build38 aims to enable employees to become “entrepreneurs”
The G+D CEO Ralf Wintergerst added:
“The establishment of the spin-out allows us to react more quickly to market changes and offer startup-savvy employees even more entrepreneurial independence.”
Because the spin-off allows employees to participate directly financially in the startup.
