HTGF et al. sell Comnovo to Linde MH

The company's founders are the majority shareholders and will also sell their stakes in the transaction. 

Acquirer Linde is a brand in the Kion Group, specialising in the manufacturing of forklift trucks and warehouse equipment. It will give Comnovo access to a distribution network in 100 countries.

Linde's EMEA operating unit recorded a revenue of €2.9bn in 2016 and employs 10,500 people.

Previous funding
In November 2014, HTGF and Seed Capital Dortmund invested €500,000 each in a seed round for Comnovo. Acquarium Partners joined the round later in early 2015.

Company
Dortmund-headquartered Comnovo span out of the Communications Networks Institute at the Technical University of Dortmund in 2013. It develops and distributes warning systems for vehicles in order to prevent collisions with pedestrians. The wireless technology is used for sensor data acquisition, distance measurement around vehicles and positioning. It is used predominantly in factories and warehouses on wheel loaders and forklifts. A hundred systems are currently in use.

People
High-Tech Gründerfonds – Yann Fiebig (investment manager).
SeedCapital Dortmund – Nico Hemman (investment manager).
Acquarium Partners – Jürgen Neumann (managing director).
Linde Material Handling – Andreas Krinninger (CEO).
Comnovo – Andreas Lewandowski (managing director).

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