The SaaS professionals and industry experts now supporting Luminovo are: Daniel Dines (founder and CEO of UiPath), Charles Songhurst (former head of strategy at Microsoft), enterprise software entrepreneur Carsten Thoma (co-founder of Hybris, sold to SAP), Jan Stumpf (founder of Ascending Technologies, sold to Intel), Silicon Valley business angel Jack Fuchs (lecturer at Stanford University), Michael Wax (founder and CEO of Forto, formerly Freighthub), Norman Weiss (entrepreneur and founder of MittelstandsCampus), and Hamed El-Abd (board member at WKK Technology). The financial investment of the business angels totals according to Dealroom to 2.5 million euros. Only in spring 2020 was the startup able to Pre-Seed Round Raise 2 million euros from the two early-stage venture capital investors Cherry Ventures and La Famiglia.
Jan Stumpf justifies his investment:
"Having developed electronics from prototype to market-ready product at Ascending Technologies and Intel, Luminovo's vision of solving a real customer challenge immediately piqued my interest."
Carsten Thoma explains about Luminovo:
"They provide a solution where horizontal enterprise software products alone cannot unlock the value needed to advance the electronics industry. Their approach of mapping complex, multi-stakeholder processes into a collaborative and modern tool can make all the difference."
Luminovo On the way to Series A
In recent months The startup also celebrated several milestones: For example, the private beta launch of its Lumiquote solution took place with select customers. Lumiquote is designed to address the biggest challenges of supply and procurement management in the Electronic Manufacturing Services (EMS) sector. Luminovo also expanded its customer portfolio with additional early adopters. On the path to Series A, the startup now wants to focus on demonstrating product-market fit.
Timon Ruban, one of the founders of Luminovo, says:
"We are incredibly fortunate to have convinced these eight renowned business angels to join us on our journey. Each of them uniquely fits our mission and can help us develop the complete electronics operating system after LumiQuote's launch with their industry experience or specialized network."
