HTGF, NBR et al. sell Gestigon to Valeo

Financial details of the deal were not disclosed but HTGF, which first provided seed capital in December 2012, is said to have realised one of its highest IRRs for a deal of this kind.

Gestigon will continue to operate out of Lübeck in the same capacity as it has since 2011, but will hope to take advantage of a larger team to sharpen its focus on the autonomous and connected cars industry.

Previous funding
Gestigon secured €500,000 of seed capital from HTGF and MBG-SH in December 2012. Both venture capitalists reinvested in December 2014 after a significant growth in sales. Then in September 2015, NBR led a multi-million series-A round alongside Vorwerk. Up until this point, HTGF had been the lead equity investor but the balance then shifted to NBR.

People
High-Tech Gründerfonds – Torsten Löffler (investment manager).
Gestigon – Sascha Klement (founder).
Valeo – Marc Vrecko (president).

Advisers
Equity – GCA Altium, Sascha Pfeiffer (corporate finance); Weitnauer Rechtsanwälte (legal).

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