Target Partners leads Navvis's €7.5m series-B

The new funds will be used to improve the technology and to expand sales activities in Germany and other markets such as China, Japan, the Middle East, south-east Asia and the US.

Target stated it currently has €300m under management. The VC invests in startups and early-stage companies. Earlier this month, Target invested €2m in a series-A extension for Nestpick together with b-to-v Partners.

Previous funding
In November 2014, Munich-based BayBG invested growth capital in Navvis. Venture capital firm MIG also invested alongside BayBG.

Company
Navvis is a 3D mapping and indoor navigation service, covering buildings such as airports, train stations and shopping malls. Its software can be used for fire protection, insurance and during the construction process, as well as for navigation. The company span out of the Technical University of Munich in 2013 and has 60 employees.

People
Kurt Müller is a partner at Target. Felix Reinshagen is the co-founder and CEO of Navvis.

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• Topics
• DACH
• Technology
• Expansion
• Germany
• Venture