Infinite Devices GmbH, a progressive IoT (Internet of Things) start-up based in Magdeburg has just secured a seven-digit funding from the renowned investors BMP Ventures AG with their IBG Venture Capital Fund III and BSC-Partner GmbH.
Infinite Devices develops and markets the infinimesh IoT platform. The platform allows companies to control, manage, and evaluate any type of IoT device in a cloud or their own datacenter. AI algorithms and data sharing are used to evaluate and visualize the collected data, facilitating the realization of complex, decentralized tasks. From the edge to the simple sensor, infinimesh can manage millions of IoT devices while guaranteeing privacy, data security, and scalability.
Infinite Devices has entered into a partnership with IONOS, Europe’s largest hyperscaler and cloud provider, which supports the company with sales and infrastructure.
Martin Endress (CCO) of IONOS summarizes the benefits of the cooperation as follows: “The visionary IoT platform infinimesh uses infrastructure that IONOS, the largest cloud hyperscaler in Europe, provides. Together, we bring you IoT made in Europe – guaranteed privacy, maximum scalability, and future-proof!”
Ywes Israel of BMP Ventures AG connects hopes for the region with the young start-up: “With Infinite Devices we can form the nucleus for a large number of new application scenarios in various industries. These new technologies attract innovative and creative minds. We all know that we need European and German IoT solutions. Infinite Devices tackles this need! I am pleased to welcome them in our portfolio!”
The young development company offers the ideal platform for the business areas Smart Energy, Smart City, and Smart Transportation. The founders are well known. The founder and managing director Alexander Alten-Lorenz has many years of experience thanks to his work as developer in the Big Data project Hadoop, at Google, Cloudera, and Evariant, among others. He worked as a digitization expert at the energy service provider E.ON and describes the unique advantages of the platform as follows: “Infinimesh uses the most secure encryption technology and, unlike most of our competitors, fully complies with the GDPR (DSGVO). In contrast to current IoT platforms, this means that we are independent from US cloud providers and avoid the constraints of the US Cloud Act.”
Its co-founder and managing director Bruno Kramm, label boss, digital sales consultant for cultural producers, and former digital politician notes: “The Corona crisis has very specifically revealed the poor state of digitalization and automation in Germany. With infinimesh and IoT made in Germany, we will contribute a productive and sustainable network of all types of devices and generate added value for small and medium-sized businesses, industries, and cities.”
Infinite Devices has opened its development and sales office in a former school building in the Nachtweide in Magdeburg and will create five new jobs in June. The company predicts that it will have developed more than forty additional jobs by 2025.
Marko Sarstedt, Professor of Marketing at the Otto-von-Guericke University and another founder of the young start-up on the choice of location: “As a city of science and home to many innovative companies, Magdeburg is the ideal location for our start-up. We are working closely with the university and other institutions to promote digitization in the region.”
Alexandra Sarstedt, co-founder and responsible for legal and human resources, comments on the corporate culture: “Here at Infinite Devices, we are all working towards an ambitious goal. We are proud of our young and international team of hand-picked experts.”
About the IBG Funds
The Magdeburg-based IBG funds are the venture capital funds of the state of Saxony-Anhalt. The IBG Funds provide equity capital to innovative companies with sustainable and above-average growth potential and headquarters/a branch in Saxony-Anhalt. At the beginning of 2017, the IBG launched the new venture capital fund RKF III with a volume of EUR 84 million. The fund is financed by the state and the European Union, and invests in innovative companies in Saxony-Anhalt in the seed, start-up, and growth business phases. The IBG funds are managed by bmp Ventures AG.
About bmp Ventures
With an experience background of more than 250 investments in almost all technology segments, most of which are in the early stages, bmp is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp has, among other things, set up venture capital funds for the KfW banking group and DEG – Deutsche Investitions- und Entwicklungsbank.
About BSC Partner GmbH
BSC-Partner GmbH (BSC) is part of a medium-sized family business, active in the fields of mechanical engineering, agriculture, and renewable energies with more than 20 years of experience. Through a variety of different regional and national [IE1] investments, BSC dedicates itself to innovative companies and projects. Future-oriented innovations, progress, and sustainability are essential factors in this context. The use of alternative energy sources, “green” mobility, health care, and the IoT are important areas. BSC is involved as an investor, development partner, and/or investment, risk, and finance management consultant.
Contact: Bruno Kramm firstname.lastname@example.org Tel: +49 162 66 99 666