HTGF invests in Magazino

HTGF invested  from its second fund, a €300m vehicle, with co-investment provided by two business angels.

The GP stated that Magazino's technology implementation and performance comparing favourably with its competitors played a key role in its decision to invest.

The fund usually commits €500,000 at the seed financing stage and will commit up to €2m per portfolio company in follow-on financing.

Company
Founded in 2013 by Frederik Brantner, Lukas Zanger and Nikolas Engelhard, Magazino is a start-up from the Technical University of Munich. The company has developed several technologies to enable individual objects to be automatically grasped from larger bins or carriers. A 3D camera determines the size, shape, position and ideal gripping point, while algorithms calculate optimal utilisation of the space. Simple administration is achieved by the company's IT systems.

Magazino sells its technology via two products: compact storage dispensing machines enable pharmacies to reduce their storage needs, while shelf-robots, using swarm intelligence, reduce the personnel costs in fulfilment centres. Shelf-robots move from shelf to shelf picking individual items directly from the shelves. The company already has customers in the pharmaceutical and fulfilment centre industries.

People
Frederik Brantner is CEO and co-founder of Magazino. Michael Strzyz is investment manager with HTGF.

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• Topics
• DACH
• Expansion
• Technology
• Germany
• High-Tech Gründerfonds