Following a successful seed financing round, Kewazo has now raised another €2.5 million, bringing its total funding volume to €3.6 million. The Munich-based construction robotics startup is now focusing on product certification and the market readiness of its intelligent robot elevator, "Liftbot."
The financing round was led by Venture capitalist MIGThe VC investor was already involved in the Seed financing from Kewazo in May 2018. In addition to fresh capital, Kewazo has also recently recruited two experienced experts for its management team: Helmut Kreller and Uwe Braun will provide the Munich startup with personnel support in the future.
Transforming the industry sustainably
Helmut Kreller will support Kewazo as Chairman of the Advisory Board. Kreller served as Managing Director of scaffolding systems manufacturer Wilhelm Layher for over 20 years. He will contribute his experience in the scaffolding industry to Kewazo's sales and marketing, product development, production, and management. He commented:
"I will be delighted to support Kewazo with both my technical and industry-specific experience to advance digitalization and automation in the industry. Scaffolding services are undergoing a transformation due to a growing shortage of skilled workers and a constant need for optimization. Innovative solutions like Liftbot, which significantly reduce the costs of scaffolding construction while simultaneously increasing safety on site, will change the industry for good [...]."
Uwe Braun joins Kewazo as its second managing director. He will support Kewazo in expanding its sales structures and establishing service networks. Uwe Braun says:
"I'm excited to invest all my energy, experience, and enthusiasm in such a young and dynamic startup. I see enormous automation potential for the "manual" scaffolding assembly with our "Liftbot." It's an exciting and challenging task for me to accompany the highly motivated Kewazo team into a promising future."
Keeping a close eye on certification milestones
The startup side is also pleased about the reinforcement. Artem Kuchukov, Managing Director of Kewazo, explained:
"We are delighted to have Helmut Kreller and Uwe Braun on our management team. With their decades of experience in the scaffolding and construction industries, we are ideally positioned for the challenges ahead."
Regarding the new financing, he continues:
“The new investment will help us achieve our certification milestones and deliver the first systems this year.”
