Consortium invests in seed round for Kiutra

The capital will be used to strengthen global sales and distribution, further increase production capacities and develop the company's technology.

HTGF is currently investing from its High-Tech Gründerfonds III fund, which closed on €316m in 2016. The company normally invests between €500,000-3m in companies founded less than three years ago. Apex is currently investing from its Apex One vehicle, which held a first close on €30m in 2017. Equity tickets from the fund average €500,000, with a maximum investment size of €2m.

Previous funding
The company is supported by the Exist Transfer of Research programme, which is run by the German Federal Ministry of Economic Affairs and Energy, and the ESA Business Incubation Centre Bavaria.

Company
Founded in 2018, Kiutra is a spinout from the Technical University Munich. The company is headquartered in Oberpfaffenhofen and also operates a facility in Munich. The company manufactures cooling devices; its technology combines magnetic refrigeration and closed-cycle pre-cooling to provide Kelvin to sub-Kelvin temperatures cryogen-free and continuously.

People
High-Tech Gründerfonds – Christian Ziach (investment manager).
Apex – Andreas Riegler (founder, managing partner); Wolfgang Neubert (venture partner).
Kiutra – Alexander Regnat (CEO, co-founder).

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• Topics
• Expansion
• DACH
• Industrials
• Germany
• High-Tech Gründerfonds
• Venture