The Munich-based startup Goodly Innovations convinces BayBG and Bayern Kapital as investors and raises a seven-figure sum in its Series A financing round.
Goodly Innovations offers augmented reality (AR) solutions for regulated industries. Founded in 2016, the company convinced the BayBG Bavarian Investment Company and Bavaria Capital and two business angels as investors. Optiworx, Goodly Innovations' first product, uses AR to optimize processes in industrial manufacturing and packaging plants. Developed specifically for the requirements of the pharmaceutical and biotech industries, the product is already being used by several corporations. This minimizes downtime and changeover times for plants, enabling companies to increase efficiency and save costs.
Robert Hoffmeister, Co-Founder and CEO of Goodly Innovations, explains:
"With Optiworx, we support companies [...] to release up to 50% of productivity reserves, increase quality, and train new employees quickly and safely."
Goodly Innovations: Financing to support expansion
With the funding, the startup aims to expand its existing system with additional product features. At the same time, it aims to establish a larger international presence.
Alexander Ullmann, Investment Manager at BayBG, comments:
"What convinced us most was the outstanding unique selling point of the Goodly solution. It's the only AR system that enables multi-person teams to work synchronously on a task simultaneously and in real time."
Loud George Ried, Managing Director of Bayern Kapital, the Munich-based startup solves a fundamental problem in the pharmaceutical and biotech industry. He says:
"The technology works reliably—an important factor in a regulated environment. Combined with the experience of the founding team, this creates a good foundation for establishing the system as a standard in a large market."
