TinyInspektor – introducing a key entry to European industrial markets
Heilbronn / Tel Aviv, 04 April 2018. As part of the current series A financing round, Heilbronn-based leading investor BORN2GROW – a subsidiary of ZFHN Zukunftsfonds Heilbronn – joins renowned German and Swiss players Grazia Equity, Steinbeis, Pyxis and THI Investmentsin acquiring an interest in German-Israeli start-up TinyInspektor. Targeting a yearly € multi-billion global market, TinyInspektor develops artificial intelligence (AI) driven solutions, set to revolutionize industrial production and productivity the world around.
After intensive interaction with the Israeli vibrant startup community, this commitment further highlights ZFHN’s expansion of activities towards increasing internationalization. Given Israel’s proximity, it’s being one the world’s most successful hotbeds of technology and innovation, it was only natural for ZFHN to join a strong Israeli team and technology, rendering such benefits to the German and Global Industry as a whole.
“TinyInspektor’s range of products and technologies delivers a direct, immediate and substantial impact to industrial production processes worldwide, satisfying acute multi-billion-dollar yearly market needs – across industries, verticals and geographies. Our central position in Germany’s industrial hub enables BORN2GROW and its fellow investors to catapult TinyInspektor into partnerships with major industrial multinationals,” says Thomas R. Villinger, CEO of ZFHN.
TinyInspektor develops its products and associated services in close collaboration with top industrial players in Germany, Austria, Switzerland, Italy and France, representing a yearly turnover of many tens of Euro-Billions. By applying AI to disrupt conventional industrial processes, business models and production paradigms, the company can directly affect its partners’ performance in a short time. Following a rollout throughout the Central European market, the company is looking to continue its rapid growth and plans production, sales and distribution facilities in Baden- Württemberg.
“We have accomplished great worldwide potential for our universal, scalable products, directly applicable to any industry, without limitation of vertical or geography. We are delighted to have strong seasoned financing partners like BORN2GROW at our side from the outset,” explains Harel Boren, CEO and Chairman, and one of TinyInspektor’s founders.
“Machine-Learning technology has advanced to the stage where artificial intelligence can outperform human beings in carrying out and making decisions on narrowly-defined tasks. Thus, it has the potential to make vast contributions to the productivity of industrial plants, as manifest by an immense demand to establish widespread access to such technologies. TinyInspektor develops precisely these kind of technologies, building upon many decades of expertise within its team of veteran researchers and developers, and leveraging its broad industrial access to accumulate proprietary data” adds CTO Yonatan Hyatt, who co-founded the company with Boren.
“Relying on close collaboration with leading industrial manufacturers, TinyInspektor develops its products “across the chasm”, ready to accomplish widespread market entry with a product well suited to market needs from inception and using its Global partners’ smooth internal processes for dissemination of game-changing technologies”, says Zohar Kantor, Vice President of Sales and Projects Management. “In addition, TinyInspektor’s stand-alone products, direct market-access and central location in Baden-Württemberg render it absolutely independent from any third parties in deploying rapid market growth”, adds Kantor.
About zfhn Zukunftsfonds Heilbronn
Since it was founded in 2005, ZFHN Zukunftsfonds Heilbronn has been one of the largest venture capital funds in Germany. It assists primarily young, innovative technology firms that are established in the Heilbronn region or are ready to settle there in the short to medium term. Zukunftsfonds is privately financed and holds hundreds of millions of euros in owner’s equity. It supports companies with capital, know-how and contacts in the Heilbronn economic region. Its objective is the continued growth of Heilbronn as a successful technology site. This will also include the setup and expansion of clusters (medtech, biotech, cleantech) on a local level.
Since its foundation in 2013, Heilbronn-based BORN2GROW GmbH & Co. KG has supported innovative tech companies in the seed-funding and start-up phase. The seed fund assists young companies by guiding them from proof-of-concept stage to market launch. This early-stage financing enables rapidly growing tech-oriented start-up companies to develop their ideas and concepts. BORN2GROW, a subsidiary of ZFHN Zukunftsfonds Heilbronn, works together with other venture capital funds and business angels, making quick and transparent financing decisions.