EnBW

EnBW Energie Baden-Württemberg AG, based in Karlsruhe, Germany, is one of the largest energy supply companies in Germany and Europe, with a rich history dating back over a century. The company has approximately 21,000 employees and serves around 5.5 million customers by providing electricity, gas, water, and various energy-related products and services. EnBW is committed to transforming into a sustainable and digital infrastructure operator, actively engaging with startups through its venture capital arm, which supports the development of innovative solutions for a sustainable future. The company's longstanding roots in the region highlight its dedication to fostering growth and industry in Baden-Württemberg.

Pascal Beckers

Principal

Melanie Beyersdorf

Investment Manager

Marcel Breithaupt

Finance Analyst

Jennifer Diedrichs

Investment Manager

Crispin Leick

Managing Director

Theo Schulte

Investment Manager

Theodor Schulte

Principal

Marc Umber Ph.D

Head of Investment Team

Holger Wagner

Investment Director

45 past transactions

Validaitor

Seed Round in 2025
Validaitor specializes in ensuring the trustworthiness and compliance of AI-driven products and services. It offers an AI governance platform that enables organizations to manage their AI inventory, conduct red-teaming and audits, automate compliance processes, and monitor vendor risks. The platform also provides automated model testing, customizable templates, and quality assurance to streamline AI development processes and ensure adherence to regulations and standards.

vialytics

Venture Round in 2024
vialytics is an AI-powered road management platform that analyzes road conditions from images captured by smartphones installed in municipal vehicles. The platform uses artificial intelligence to classify damage types, tracks images with GPS, and feeds live data into a centralized system, enabling civil engineers to plan repairs, allocate resources, and improve transportation sustainability. It aims to digitize road management for cities, municipalities, and counties, delivering up-to-date image data and automatic evaluations to streamline road inspection and maintenance while enhancing safety. Founded in 2017 and based in Stuttgart, Germany, vialytics has established partnerships with more than 400 municipalities across the US and Europe.

enersis

Acquisition in 2024
Enersis is a developer of a visual energy analytics platform that focuses on facilitating the Digital Energy Transformation. The company offers a modular platform tailored to meet specific client needs, providing ready-made energy efficiency portals for local authorities. This platform enables clients to efficiently capture, analyze, process, and visualize energy-related data across various domains, including electricity, gas, heat, and water. Through its innovative approach, Enersis aims to make a significant contribution to enhancing energy management and efficiency.

enspired

Series B in 2024
Enspired is a digital energy trading service provider that facilitates the integration of flexible assets into power spot markets. It employs AI-based algorithms to automate trades, maximizing clients' asset value while supporting grid stability. The company serves leading utilities and renewable/battery operators across Europe.

Cozero

Series A in 2024
Cozero is a technology company that empowers businesses to manage their carbon footprint effectively. Their Climate Action Platform integrates sustainability into financial management, enabling enterprises to track, reduce, and report corporate emissions for strategic decision-making.

Sunhat

Seed Round in 2024
Sunhat is a software tool that combines engineering expertise with sustainability knowledge to assist supply chain businesses in achieving their environmental, social, and governance (ESG) goals. It automates the processing of sustainability questionnaires and ESG ratings for suppliers.

Hololight

Series B in 2023
Hololight is a technology leader in AR/VR. Founded in 2015, our team combines passionate developers and experienced business experts. We create unique, industry-proven AR/VR technology: highly innovative and precisely tailored to scale use cases and business models. Our solutions enable companies to reduce production errors and costs, and get to market faster. We unleash the potential of XR in various industries – automotive, aerospace, mechanical engineering and many more – creating competitive advantages in the age of digital transformation.

Volytica Diagnostics

Seed Round in 2023
Volytica Diagnostics GmbH, founded in 2019 and based in Dresden, Germany, specializes in Battery Diagnosis as a Service for manufacturers of batteries and electric vehicles. The company provides a telematics diagnostics platform that utilizes self-learning algorithms to analyze and forecast battery systems. This platform enables the monitoring of warranty management challenges, assisting battery system and vehicle manufacturers, third-party telematics platforms, and risk assessors in managing their operations effectively. Volytica's services include design, monitoring, and warranty management, allowing businesses to issue warranty infringement warnings to customers through a user-friendly web dashboard.

CYCLE

Series A in 2023
CYCLE is a subscription service provider for leading delivery companies. It ensures thousands of couriers operate safely, swiftly, and comfortably daily, creating value for delivery services while reducing last-mile transport-related CO2 emissions.

Vivacity Labs

Venture Round in 2023
Vivacity Labs Ltd. is a London-based company that specializes in hyper-local data solutions for smart cities and intelligent transport systems. Founded in 2015, it focuses on enhancing urban mobility by providing services such as car parking sensing, bus occupancy monitoring, and comprehensive traffic analysis. The company employs advanced technologies, including machine learning and artificial intelligence, to install thousands of sensors across the UK, including in Milton Keynes, the UK's first transport-focused smart city. These sensors collect unprecedented data from video feeds, enabling deep insights into transport operations and predictive management. Additionally, Vivacity Labs offers video analytics services that extract meaningful information from visual data and provides detailed transport metrics, such as speed, counts, and heat maps, through API access and online interfaces. By empowering transport managers with enhanced insights, Vivacity Labs aims to reduce congestion and improve road safety.

vialytics

Series A in 2023
vialytics is an AI-powered road management platform that analyzes road conditions from images captured by smartphones installed in municipal vehicles. The platform uses artificial intelligence to classify damage types, tracks images with GPS, and feeds live data into a centralized system, enabling civil engineers to plan repairs, allocate resources, and improve transportation sustainability. It aims to digitize road management for cities, municipalities, and counties, delivering up-to-date image data and automatic evaluations to streamline road inspection and maintenance while enhancing safety. Founded in 2017 and based in Stuttgart, Germany, vialytics has established partnerships with more than 400 municipalities across the US and Europe.

Deepomatic

Series B in 2022
Deepomatic is a visual automation platform specializing in computer vision applications that transforms smartphone camera footage into actionable insights for field operations. The company offers an intuitive software-as-a-service platform that assists field service workers by automatically detecting key aspects of their work environments. By leveraging data collected from the field, organizations gain a comprehensive view of their operations and infrastructure. While Deepomatic currently focuses on the telecommunications sector, it is poised to expand its services across various verticals, including utilities, construction, and property management. The platform is designed to create custom visual automation applications that enhance operational efficiency, improve quality, and ensure compliance, thereby providing significant value to businesses seeking to optimize their field operations.

Meter friends

Seed Round in 2022
Meter friends offers independent platform designed for users of intelligent electricity meters. The company's platform offer features that make it possible to generate sustainable added value from the data from intelligent measurement systems for energy optimization,

CYCLE

Seed Round in 2022
CYCLE is a subscription service provider for leading delivery companies. It ensures thousands of couriers operate safely, swiftly, and comfortably daily, creating value for delivery services while reducing last-mile transport-related CO2 emissions.

Intigriti

Series B in 2022
Intigriti is a prominent cybersecurity company founded in 2016 that specializes in incentivized security testing through bug bounty programs. The company offers a platform that allows clients to effectively manage security testing at scale, utilizing a network of over 50,000 security researchers to identify vulnerabilities in their digital assets. Clients can expect rapid feedback, with an average of 53 vulnerability reports generated within one week of launching a program, and 71% receiving high to critical reports within 48 hours. Intigriti serves a diverse clientele, including over 300 organizations ranging from small tech startups to large financial institutions and airlines. The company emphasizes innovation and customer support, providing full triaging services and dedicated customer success managers to ensure the effective resolution of identified vulnerabilities. Intigriti's commitment to quality and service has earned it recognition, including Deloitte's Fast 50 Award in 2021 and the Rising Star award in 2020.

Easelink

Series A in 2022
Easelink develops and industrializes conductive charging technologies for electric vehicles, aiming to automate and accelerate the charging process. It centers on MATRIX CHARGING, an automated conductive charging system with no moving parts outside the vehicle, designed to be stationary and scalable. The technology uses a charging pad that enables automatic direct physical connection as soon as a vehicle parks on top, eliminating the need for manual plugging and enabling convenient, efficient EV charging.

Hololight

Venture Round in 2021
Hololight is a technology leader in AR/VR. Founded in 2015, our team combines passionate developers and experienced business experts. We create unique, industry-proven AR/VR technology: highly innovative and precisely tailored to scale use cases and business models. Our solutions enable companies to reduce production errors and costs, and get to market faster. We unleash the potential of XR in various industries – automotive, aerospace, mechanical engineering and many more – creating competitive advantages in the age of digital transformation.

enspired

Series A in 2021
Enspired is a digital energy trading service provider that facilitates the integration of flexible assets into power spot markets. It employs AI-based algorithms to automate trades, maximizing clients' asset value while supporting grid stability. The company serves leading utilities and renewable/battery operators across Europe.

vialytics

Seed Round in 2021
vialytics is an AI-powered road management platform that analyzes road conditions from images captured by smartphones installed in municipal vehicles. The platform uses artificial intelligence to classify damage types, tracks images with GPS, and feeds live data into a centralized system, enabling civil engineers to plan repairs, allocate resources, and improve transportation sustainability. It aims to digitize road management for cities, municipalities, and counties, delivering up-to-date image data and automatic evaluations to streamline road inspection and maintenance while enhancing safety. Founded in 2017 and based in Stuttgart, Germany, vialytics has established partnerships with more than 400 municipalities across the US and Europe.

3YOURMIND

Series A in 2021
Founded in 2013, 3YOURMIND develops industrial 3D printing software platforms. Headquartered in Berlin with offices in San Francisco and Wroclaw, the company offers enterprise solutions to automate additive manufacturing processes and workflows for leading companies and service providers.

DZ4

Acquisition in 2021
DZ4 GmbH, founded in 2011 and based in Hamburg, Germany, specializes in providing leasing, installation, and operational services for solar power and storage systems tailored for household customers. The company enables individuals to access customized solar solutions in a decentralized manner, promoting the use of renewable energy while helping to reduce electricity costs. Through its offerings, DZ4 aims to facilitate the transition to sustainable energy sources for residential users.

vialytics

Venture Round in 2020
vialytics is an AI-powered road management platform that analyzes road conditions from images captured by smartphones installed in municipal vehicles. The platform uses artificial intelligence to classify damage types, tracks images with GPS, and feeds live data into a centralized system, enabling civil engineers to plan repairs, allocate resources, and improve transportation sustainability. It aims to digitize road management for cities, municipalities, and counties, delivering up-to-date image data and automatic evaluations to streamline road inspection and maintenance while enhancing safety. Founded in 2017 and based in Stuttgart, Germany, vialytics has established partnerships with more than 400 municipalities across the US and Europe.

Ben Fleet Services

Corporate Round in 2020
Ben Fleet Services GmbH is a Berlin-based company that specializes in the care and maintenance of various fleet vehicles, including cars, transport vehicles, e-scooters, bicycles, scooters, and trains. Established in 2019, the company offers a wide range of on-site services such as exterior and interior cleaning, tire services, repairs, refueling, and damage documentation. Ben Fleet Services also provides a digital application that facilitates service scheduling and offers status overviews along with maintenance cycle tracking for fleet managers and operators. By integrating flexible and comprehensive services into clients' existing systems, the company aims to enhance the management and operational efficiency of fleet services, positioning itself as a key player in the future of mobility.

Cleverciti

Series A in 2020
Cleverciti provides IoT-enabled smart parking solutions that identify parked cars and available spaces and guide drivers to the most convenient option, helping organizations reduce traffic and vehicle emissions while increasing parking revenue. Founded in 2012 by Thomas Hohenacker, the company deployed an integrated sensor system to offer data capture and analysis across operations, marketing, and customer service. Its platform combines intelligent parking detection with driver communication to support multiple organizational functions. Cleverciti maintains a global presence with European headquarters in Munich and a North American base in Chicago, along with regional offices to serve customers worldwide. Its deployments span retail, smart cities, healthcare, entertainment, education, transportation, and gaming, reflecting a focus on simplifying and modernizing parking management and delivering efficient, driver-friendly experiences.

Greenbird Integration Technology

Series B in 2020
Greenbird Integration Technology AS is a software and solutions firm based in Oslo, Norway, with additional offices in Stavanger and Palo Alto. Founded in 2009, the company specializes in providing IT advisory services and integration solutions tailored for both public and private organizations across Europe. Its flagship product, Utilihive, serves as a domain-specific integration platform as a service (iPaaS) designed to support utilities in their digital transformation efforts. Utilihive empowers sectors such as smart metering, smart grid, smart cities, and the industrial Internet of Things, facilitating efficient data integration and operational processes. The company also offers consulting services that include strategic advisory, enterprise architecture, and solution design and development. Greenbird's technology is actively utilized by utilities serving over 65 million clients in various regions, including Scandinavia, Germany, the UK, the Middle East, and the Far East. In August 2023, Greenbird was acquired by GE Vernova and integrated into the Grid Software Business, enhancing its role in the ongoing energy revolution.

3YOURMIND

Series A in 2020
Founded in 2013, 3YOURMIND develops industrial 3D printing software platforms. Headquartered in Berlin with offices in San Francisco and Wroclaw, the company offers enterprise solutions to automate additive manufacturing processes and workflows for leading companies and service providers.

Hololight

Series A in 2019
Hololight is a technology leader in AR/VR. Founded in 2015, our team combines passionate developers and experienced business experts. We create unique, industry-proven AR/VR technology: highly innovative and precisely tailored to scale use cases and business models. Our solutions enable companies to reduce production errors and costs, and get to market faster. We unleash the potential of XR in various industries – automotive, aerospace, mechanical engineering and many more – creating competitive advantages in the age of digital transformation.

vialytics

Venture Round in 2019
vialytics is an AI-powered road management platform that analyzes road conditions from images captured by smartphones installed in municipal vehicles. The platform uses artificial intelligence to classify damage types, tracks images with GPS, and feeds live data into a centralized system, enabling civil engineers to plan repairs, allocate resources, and improve transportation sustainability. It aims to digitize road management for cities, municipalities, and counties, delivering up-to-date image data and automatic evaluations to streamline road inspection and maintenance while enhancing safety. Founded in 2017 and based in Stuttgart, Germany, vialytics has established partnerships with more than 400 municipalities across the US and Europe.

replex

Seed Round in 2019
Replex GmbH is a technology company specializing in the development of solutions for managing and optimizing IT infrastructures, particularly in cloud-native environments and Kubernetes. Founded in 2015 and headquartered in Duisburg, Germany, with additional offices in Berlin, Leipzig, Boston, and San Francisco, Replex offers a platform that integrates governance and cost management features tailored for cloud infrastructures. This platform allows IT managers and DevOps teams to achieve transparency and efficiency across their cloud environments, enabling them to optimize resource utilization, manage costs, and enforce governance policies. Users can dynamically adjust cluster and container sizes to enhance operational efficiency while potentially reducing cloud expenses by up to 30%. Replex's tools facilitate the allocation of costs to specific teams and business units, providing insights into cost trends and aiding in capacity planning.

Cleverciti

Series A in 2019
Cleverciti provides IoT-enabled smart parking solutions that identify parked cars and available spaces and guide drivers to the most convenient option, helping organizations reduce traffic and vehicle emissions while increasing parking revenue. Founded in 2012 by Thomas Hohenacker, the company deployed an integrated sensor system to offer data capture and analysis across operations, marketing, and customer service. Its platform combines intelligent parking detection with driver communication to support multiple organizational functions. Cleverciti maintains a global presence with European headquarters in Munich and a North American base in Chicago, along with regional offices to serve customers worldwide. Its deployments span retail, smart cities, healthcare, entertainment, education, transportation, and gaming, reflecting a focus on simplifying and modernizing parking management and delivering efficient, driver-friendly experiences.

DZ4

Series B in 2019
DZ4 GmbH, founded in 2011 and based in Hamburg, Germany, specializes in providing leasing, installation, and operational services for solar power and storage systems tailored for household customers. The company enables individuals to access customized solar solutions in a decentralized manner, promoting the use of renewable energy while helping to reduce electricity costs. Through its offerings, DZ4 aims to facilitate the transition to sustainable energy sources for residential users.

SA Valeco-SPE

Acquisition in 2019
SA Valeco-SPE operates as an energy generation company. It owns and operates wind farms. The company was founded in 1988 and is based in Montpellier, France.

Gridscale

Series A in 2019
Gridscale GmbH, founded in 2014 and based in Bedburg, Germany, specializes in Infrastructure as a Service (IaaS) cloud server solutions for both B2B and B2C customers. The company provides a highly automated platform that allows developers to manage cloud servers effectively, tailoring infrastructure resources to meet specific requirements. Its offerings include various IaaS components such as virtual cloud servers, storage, and network resources, as well as complementary Platform as a Service (PaaS) components like load balancers and firewalls. Gridscale’s architecture is designed to integrate seamlessly into corporate and system processes, enabling clients to focus on their core competencies while managing the complexities of cloud infrastructure. By prioritizing ease of use and reliability, Gridscale positions itself as a forward-thinking player in the evolving landscape of cloud computing.

Lumenaza

Series A in 2018
Lumenaza GmbH is a Berlin-based company founded in 2013 that specializes in developing and operating a software-as-a-service platform for the buying and selling of renewable electricity. The company's platform connects producers and consumers of green distributed energy, utilizing sophisticated algorithms to ensure a secure and balanced supply of renewable electricity within regional communities. Lumenaza's software, available since early 2014, supports the management of renewable power plants, balancing groups, and provides real-time energy management data to market participants. The company has collaborated with municipal utilities, energy cooperatives, and project developers to create regional electricity products. In 2016, Lumenaza expanded its offerings to include a modular and highly automated "utility in a box" solution, which encompasses all services typical of an energy service provider.

Deutsche Energieversorgung

Acquisition in 2018
Deutsche Energieversorgung develops and produces intelligent power storage units of the SENEC brand. With its lead and lithium devices, the company is one of the international market leaders for PV storage. DEV 2018 received the "Top Brand PV Storage" award for the fourth time in a row. The reason for the success of the Leipzig storage manufacturer is the many years of experience in the development and production of all important storage components. Supported by cooperation with well-known partners in the electrical and solar industry, DEV has been offering high-quality products "Made in Germany" for domestic and foreign customers for almost ten years.

Cleverciti

Series A in 2017
Cleverciti provides IoT-enabled smart parking solutions that identify parked cars and available spaces and guide drivers to the most convenient option, helping organizations reduce traffic and vehicle emissions while increasing parking revenue. Founded in 2012 by Thomas Hohenacker, the company deployed an integrated sensor system to offer data capture and analysis across operations, marketing, and customer service. Its platform combines intelligent parking detection with driver communication to support multiple organizational functions. Cleverciti maintains a global presence with European headquarters in Munich and a North American base in Chicago, along with regional offices to serve customers worldwide. Its deployments span retail, smart cities, healthcare, entertainment, education, transportation, and gaming, reflecting a focus on simplifying and modernizing parking management and delivering efficient, driver-friendly experiences.

Theva

Series C in 2017
Theva specializes in developing high-temperature superconductor coatings for over a decade. It focuses on flexible coated conductors for electrical power engineering, holding a strong patent portfolio and proprietary technology. Additionally, Theva designs specialized equipment and offers quality control services for these coatings, setting global standards.

replex

Seed Round in 2017
Replex GmbH is a technology company specializing in the development of solutions for managing and optimizing IT infrastructures, particularly in cloud-native environments and Kubernetes. Founded in 2015 and headquartered in Duisburg, Germany, with additional offices in Berlin, Leipzig, Boston, and San Francisco, Replex offers a platform that integrates governance and cost management features tailored for cloud infrastructures. This platform allows IT managers and DevOps teams to achieve transparency and efficiency across their cloud environments, enabling them to optimize resource utilization, manage costs, and enforce governance policies. Users can dynamically adjust cluster and container sizes to enhance operational efficiency while potentially reducing cloud expenses by up to 30%. Replex's tools facilitate the allocation of costs to specific teams and business units, providing insights into cost trends and aiding in capacity planning.

Hubject

Funding Round in 2016
Hubject GmbH, founded in 2012 and based in Berlin, Germany, specializes in developing an eRoaming platform that connects electric vehicle charging infrastructures across Europe. The company provides a range of digital B2B solutions designed to enhance the user experience for various stakeholders in the electric mobility sector. These solutions include SHARE, a direct payment system for charge point operators; intercharge direct, which facilitates ad-hoc charging and direct payments at stations; CONNECT, aimed at emobility service providers; and CHECK, a certification for charging system manufacturers. Hubject's platform serves a diverse clientele, including charge point operators, automotive manufacturers, energy suppliers, electric vehicle power providers, app developers, charging station manufacturers, fleet managers, carsharing providers, IT service providers, and newcomers to the emobility sector. The company has established strategic partnerships to further enhance its offerings and expand its network.

Connected Wind Services

Acquisition in 2016
Connected Wind Services is a company specializing in maintenance services for wind turbine owners. It offers comprehensive support including servicing, repairs, installation, reconditioning, and round-the-clock surveillance to optimize wind turbine operations.

Carbon Trust

Venture Round in 2016
Established in 2001, Carbon Trust is a global organization dedicated to accelerating sustainable, low-carbon economies. With over 200 experts spanning engineering, finance, and policy, they assist businesses, governments, and institutions worldwide in reducing carbon emissions and enhancing resource efficiency.

Lumenaza

Seed Round in 2016
Lumenaza GmbH is a Berlin-based company founded in 2013 that specializes in developing and operating a software-as-a-service platform for the buying and selling of renewable electricity. The company's platform connects producers and consumers of green distributed energy, utilizing sophisticated algorithms to ensure a secure and balanced supply of renewable electricity within regional communities. Lumenaza's software, available since early 2014, supports the management of renewable power plants, balancing groups, and provides real-time energy management data to market participants. The company has collaborated with municipal utilities, energy cooperatives, and project developers to create regional electricity products. In 2016, Lumenaza expanded its offerings to include a modular and highly automated "utility in a box" solution, which encompasses all services typical of an energy service provider.

DZ4

Seed Round in 2015
DZ4 GmbH, founded in 2011 and based in Hamburg, Germany, specializes in providing leasing, installation, and operational services for solar power and storage systems tailored for household customers. The company enables individuals to access customized solar solutions in a decentralized manner, promoting the use of renewable energy while helping to reduce electricity costs. Through its offerings, DZ4 aims to facilitate the transition to sustainable energy sources for residential users.
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