VC investors Cherry Ventures and La Famiglia, Personio founder Hanno Renner, and Sebastian Schuon, founder of Alasco and Stylight, are injecting more than €2 million into Munich-based AI company Luminovo. The money raised in a pre-seed financing round will be used for product development and team expansion.
Founded in 2017 by Timon Ruban and Sebastian Schaal, the company supports its customers in the use of artificial intelligence. The startup focuses on the electronics industry. With the new capital, the Munich drive new solutions in electronics development and manufacturing, further build their team, and acquire new pilot customers. The goal is to become the globally leading operating system for electronics development.
"Especially in the current phase, the investors' confidence demonstrates even more that we are pursuing a crisis-proof vision. With our solutions, we want to break down on-premise data silos and rethink processes with the next generation of software for the electronics industry,"
says Luminovo founder Sebastian Schaal. His co-founder Timon Ruban added:
"The electronics industry sets the pace for technological progress, and its influence is felt in every area of our lives. The team's motivation to contribute here is high, and with our investors behind us, we now have the opportunity to bring our ideas to market maturity."
“Impressed by the technical excellence” of Luminovo
Katharina Wilhelm, investor at Cherry Ventures, says that processes in the electronics industry have changed little in recent decades. Therefore, they see great potential for supporting software in this area. Judith Dada, partner at The Family, says:
"We have closely followed the Luminovo founders' journey over the past few years and are impressed by the technical excellence and visionary power the team demonstrates. We are convinced that Luminovo will play a central role in rethinking the electronics industry in the future. Germany has built strong companies in this field over decades, and we are thrilled that this innovative and entrepreneurial spirit is now continuing in the next generation, powered by AI."
