Bayern Kapital in €5.5m round for ProGlove

Corporate venturing firm Intel Capital and German VC firms Gettylab and DIVC also took part in the financing.

The fresh capital will be used to expand the company's operations to North America, as well as adding additional software applications to the glove.

Previous funding
In total, ProGlove has now raised €9.2m, according to a company press release.

Bayern Kapital, Intel Capital and Gettylab took part in a $2.2m series-A funding round for ProGlove in May 2016. Prior to this, the company had received grants and additional seed funding from Intel Capital.

Company
Founded in 2014 and based in Munich, ProGlove has developed a glove and wristband combination with integrated sensors and scanners, aiming to aid manufacturing and logistics workers. The technology is geared towards factory workers; it electronically captures their movements and alerts them to mistakes, locates missing parts and automates inventory by scanning the barcodes of the parts they use.

People
Bayern Kapital – Georg Ried (managing director).
ProGlove – Thomas Kirchner (founder, managing director).

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• Topics
• Expansion
• DACH
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• Industrials
• Germany
• Venture