HTGF exits Grandcentrix to Vodafone

HTGF invested €500,000 for a minority stake in Grandcentrix in 2010. The VC was the only institutional investor with a stake in the company.

At the time of the investment, the firm was deploying capital from the 2005-vintage High-Tech Gründerfonds I, its first vehicle, which had a six-year investment period.

Vodafone will enhance its Internet-of-Things portfolio via the acquisition.

Company
Founded in 2009, Grandcentrix has a headcount of 150 and is based in Cologne. The group began as a smartphone analytics company and now provides companies with systems integration services for the Internet of Things, smart products and distributed ledger technologies. The company's clients include Reifenhäuser and Leica.

Grandcentrix reported profit of almost €1.2m in 2017, with total assets of almost €4.9m, according to Northdata.

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• Topics
• Exits
• DACH
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• High-Tech Gründerfonds
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