LBBW Venture Capital

LBBW Venture Capital GmbH is the investment arm of Landesbank Baden-Württemberg, established in 1998 and located in Stuttgart, Germany. The firm specializes in financing early to late-stage growth companies, particularly in the sectors of industrial technologies, information technology, software, telecommunications, innovative services, and life sciences. LBBW VC primarily targets investments in Southern Germany but is open to opportunities throughout Germany, Austria, and Switzerland. It typically invests between €0.5 million and €1.5 million per company, with the potential to contribute up to €5 million across multiple financing rounds. The firm takes an active role in its investments, often seeking advisory or supervisory board positions for larger stakes. LBBW VC has a strong international track record, having invested in over 60 companies, and typically exits investments within two to five years through trade sales or initial public offerings. The team boasts a history that includes two IPOs and the backing of one unicorn.

Joachim Erdle

Managing Director

Patrick Herlinger

Investment Manager

Markus Kazmaier

Analyst

Oliver Konanz

Managing Director

Maximilian Naumow

Investment Manager, Digital Transformation

Jürgen Prockl

Co-Founder and Managing Director

Andreas Von Richter

Managing Director

30 past transactions

specter automation

Seed Round in 2023
Construction is the second least digitized sector in the world with 96% of all data being unused. Although detailed planning data is created upfront, a lack of suitable digital tools prevents its transfer to the construction site. SPECTER’s web-based construction management software uniquely incorporates the core components of construction planning, reducing the organizational burden on construction management and helping to meet project timelines and budgets.

Code Intelligence

Series A in 2022
Code Intelligence GmbH, founded in 2017 and based in Bonn, Germany, specializes in developing security software aimed at enhancing the reliability and security of software applications. The company offers modern security testing solutions utilizing coverage-based fuzzing techniques, which enable automated vulnerability detection and error checking with minimal expert intervention. Its products are designed for use by software developers, quality managers, and IT security firms, facilitating a continuous testing infrastructure that integrates the latest advancements in software testing technology. Code Intelligence serves prominent global clients, including Bosch, Deutsche Börse Group, and Deutsche Telekom, helping them ensure the security and robustness of their software systems.

Cedalo

Seed Round in 2022
Cedalo is an innovative software startup on a mission: Everyone, even non-programmers, should be able to create and orchestrate apps and microservices for the IoT. In the foreground, this requires intuitive operation and a user-friendly modeling environment. In the background, connectivity to cloud and server systems must be ensured and the foundation laid for complex processes and high usage loads.

Exciva

Series A in 2021
exciva is a Provider of targeted drug rescue program intended to involve pharmaceutical research and development based in Heidelberg, Germany. The company's program has been formulated for developing symptomatic and disease-modifying treatments, therapies, cures, prophylactics, supplements, formulations and methods of making and using such compositions, enabling the healthcare industry to access their program for rescuing and reusing approved drugs for new indications and new uses.

3YOURMIND

Series A in 2021
3YOURMIND GmbH, founded in 2013 and headquartered in Berlin, Germany, with additional offices in San Francisco and Wroclaw, develops an innovative software platform for industrial 3D printing. The company provides enterprise software that automates additive manufacturing processes, streamlining workflows for various industries. Its product suite encompasses tools for managing the entire additive manufacturing supply chain, from analyzing historical data to optimizing order management and production scheduling. By standardizing workflows and automating associated business processes, 3YOURMIND enables data-driven decision-making and supports agile manufacturing practices. Their solutions, including Agile PLM and Agile ERP, enhance product innovation and order tracking, while Agile MES improves transparency and information flow on the production floor. The company has successfully partnered with notable clients such as GKN, DB Schenker, and EOS, offering expert guidance throughout the additive manufacturing workflow, from concept to execution.

Actitrexx

Series A in 2021
Developer of a cell therapy technology designed for the treatment of patients after a stem cell transplant to prevent rejection reactions. The company's technology focuses on the development of clinical testing of cell therapeutics for the suppression of transplant rejection and autoimmunity and the portfolio of cell therapy, enabling patients to prevent the fatal consequences of rejection, significantly improving their quality of life, and also opening up to many therapy options.

Code Intelligence

Series A in 2020
Code Intelligence GmbH, founded in 2017 and based in Bonn, Germany, specializes in developing security software aimed at enhancing the reliability and security of software applications. The company offers modern security testing solutions utilizing coverage-based fuzzing techniques, which enable automated vulnerability detection and error checking with minimal expert intervention. Its products are designed for use by software developers, quality managers, and IT security firms, facilitating a continuous testing infrastructure that integrates the latest advancements in software testing technology. Code Intelligence serves prominent global clients, including Bosch, Deutsche Börse Group, and Deutsche Telekom, helping them ensure the security and robustness of their software systems.

Teralytics

Series D in 2019
Teralytics AG is a company based in Zurich, Switzerland, that specializes in big data analysis for the telecommunications industry. Founded in 2012, Teralytics utilizes mobile network data to provide insights into human behavior, including movement patterns, demographics, and interests. This information supports various sectors, such as financial services, retail, and transportation, in developing more effective products and services. The company's platform leverages advanced machine learning to enhance transportation planning and operations, ultimately aiming to create sustainable mobility solutions. By addressing critical mobility challenges, Teralytics seeks to improve journey times, ensure accessibility, increase operational efficiencies, and reduce environmental impact.

tado°

Secondary Market in 2018
tado° GmbH is a Munich-based company that specializes in developing home climate control systems aimed at enhancing the efficiency of heating and cooling in residential and small business settings. Founded in 2010, tado° offers a combination of hardware and software solutions that intelligently adjust climate controls based on residents' behaviors, current weather conditions, and specific building characteristics. The company's products are available through various retail outlets and online platforms. With a focus on integrating Internet of Things technology into the Cleantech sector, tado° aims to provide innovative solutions for energy-efficient climate management. The company also has an office in London, expanding its reach in the market.

Acousia Therapeutics

Series B in 2018
Acousia Therapeutics GmbH is a biotech company based in Tübingen, Germany, founded in 2012. It focuses on developing small molecule drugs aimed at treating hearing loss through local application. The company's innovative approach targets the regeneration of sensory hair cells in the inner ear, which are essential for hearing. By stimulating cellular regeneration from supporting cells, Acousia's therapies aim to restore hearing in patients affected by various conditions, including noise trauma, ototoxic drug treatment, and sudden deafness. Additionally, its research and development efforts are directed towards addressing age-related hearing decline.

otego

Seed Round in 2018
otego GmbH, founded in 2016 and based in Karlsruhe, Germany, specializes in the development of thermoelectric generators (TEGs) that efficiently convert heat into electric power. These generators are designed to provide an independent energy supply for wireless sensors and actuators, functioning effectively in conditions with varying temperatures. The company's technology is applicable in various sectors, including the Internet of Things, waste heat recovery, and Industry 4.0. As a spin-off from the Karlsruhe Institute of Technology, otego brings together a diverse team of professionals, including physicians, a chemist, and a business engineer, to advance its innovative energy solutions.

Crealytics

Series C in 2017
Crealytics is a performance marketing agency that specializes in the retail sector, focusing on search, shopping, and paid social campaigns across platforms such as Google, Bing, Amazon, Pinterest, and Facebook. With a team of over 150 professionals, the company emphasizes a holistic approach that integrates marketing with merchandising and pricing strategies. This integration allows retailers to optimize their product ad investments for improved profitability and Customer Lifetime Value. Crealytics leverages proprietary technology and data analytics, facilitated by an in-house team of business intelligence and data scientists, to streamline campaign management and enhance strategic decision-making. The agency operates globally, managing paid search campaigns in 150 markets and 20 languages, with offices located in London, New York, and Berlin.

Amcure

Series B in 2016
amcure GmbH is a clinical-stage biopharmaceutical company based in Eggenstein-Leopoldshafen, Germany, focused on the research and development of peptide-based compounds designed to treat highly metastatic forms of squamous cancer. Founded in 2011 as a spin-off from the Karlsruhe Institute of Technology, amcure is dedicated to targeting the tumor-specific co-receptor CD44v6, which plays a critical role in activating various receptor tyrosine kinase pathways. Their lead candidate, AM001, effectively inhibits pathways associated with vascular endothelial growth factor (VEGF) and hepatocyte growth factor (HGF), providing a novel therapeutic approach to combat metastatic tumors. The company has advanced its first-in-class CD44v6 inhibitor, AMC303, into clinical development for solid tumors as of late 2016, aiming to improve treatment options for cancers such as pancreatic, head and neck, gastric, colorectal, breast, and lung cancer.

Enoware

Seed Round in 2015
Enoware specializes in wireless, miniaturized geothermal measuring capsules that enhance the efficiency and quality of geothermal probes. The company offers mobile sensor systems designed for fluid environments, providing users with access to crucial environmental information. By leveraging an online portal and smartphone application, Enoware facilitates system monitoring, optimization, and operational safety for geothermal energy applications. With a growing market in Germany, where over 300,000 geothermal probes are in use and 20,000 new systems are installed annually, Enoware aims to expand its customer base and enhance the capabilities of geothermal energy systems.

Biametrics

Series A in 2015
Biametrics specializes in providing innovative research and development services aimed at the academia, pharmaceutical, biotechnology, and diagnostic markets. The company's products focus on label-free detection systems that characterize biomolecular interactions, offering valuable kinetic and thermodynamic data, including affinity measurements and specificity information. Biametrics' technology enables enhanced data evaluation for applications in diagnostics and process analytics, allowing clients to gain insights into biomolecular behavior with unmatched performance in throughput and versatility.

Amcure

Series A in 2014
amcure GmbH is a clinical-stage biopharmaceutical company based in Eggenstein-Leopoldshafen, Germany, focused on the research and development of peptide-based compounds designed to treat highly metastatic forms of squamous cancer. Founded in 2011 as a spin-off from the Karlsruhe Institute of Technology, amcure is dedicated to targeting the tumor-specific co-receptor CD44v6, which plays a critical role in activating various receptor tyrosine kinase pathways. Their lead candidate, AM001, effectively inhibits pathways associated with vascular endothelial growth factor (VEGF) and hepatocyte growth factor (HGF), providing a novel therapeutic approach to combat metastatic tumors. The company has advanced its first-in-class CD44v6 inhibitor, AMC303, into clinical development for solid tumors as of late 2016, aiming to improve treatment options for cancers such as pancreatic, head and neck, gastric, colorectal, breast, and lung cancer.

Crealytics

Series B in 2014
Crealytics is a performance marketing agency that specializes in the retail sector, focusing on search, shopping, and paid social campaigns across platforms such as Google, Bing, Amazon, Pinterest, and Facebook. With a team of over 150 professionals, the company emphasizes a holistic approach that integrates marketing with merchandising and pricing strategies. This integration allows retailers to optimize their product ad investments for improved profitability and Customer Lifetime Value. Crealytics leverages proprietary technology and data analytics, facilitated by an in-house team of business intelligence and data scientists, to streamline campaign management and enhance strategic decision-making. The agency operates globally, managing paid search campaigns in 150 markets and 20 languages, with offices located in London, New York, and Berlin.

PressMatrix

Series A in 2013
PressMatrix GmbH, based in Berlin, Germany, specializes in digital publishing services aimed at transforming traditional print media into interactive digital formats for various platforms, including tablets and mobile devices. Founded in 2009 and originally named bblabs UG, the company rebranded to PressMatrix GmbH in 2011. It provides a comprehensive publishing solution that includes subscription services, a Workbench for content management, and mobile applications tailored for magazines, books, journals, and catalogs. PressMatrix caters to a diverse clientele, including publishers, agencies, and enterprises, with notable clients such as Georg Thieme Verlag and Carry-On Publishing GmbH. The company employs a proprietary online PDF to app converter, enabling seamless conversion and distribution of content across multiple channels.

Crealytics

Venture Round in 2013
Crealytics is a performance marketing agency that specializes in the retail sector, focusing on search, shopping, and paid social campaigns across platforms such as Google, Bing, Amazon, Pinterest, and Facebook. With a team of over 150 professionals, the company emphasizes a holistic approach that integrates marketing with merchandising and pricing strategies. This integration allows retailers to optimize their product ad investments for improved profitability and Customer Lifetime Value. Crealytics leverages proprietary technology and data analytics, facilitated by an in-house team of business intelligence and data scientists, to streamline campaign management and enhance strategic decision-making. The agency operates globally, managing paid search campaigns in 150 markets and 20 languages, with offices located in London, New York, and Berlin.

Tocario

Seed Round in 2012
Tocario GmbH, founded in 2011 and based in Stuttgart, Germany, is a cloud IT company that specializes in providing automated desktop-as-a-service (DaaS) solutions. The company offers a hosted virtual desktop platform designed for IT professionals, enabling them to manage their desktop infrastructure through a single, user-friendly interface. Tocario's technology is available to European end customers and white-label partners, as well as through enterprise licenses for cloud service providers. The platform addresses various business needs across enterprises of all sizes, enhancing agility while minimizing complexity. Its secure deployment of virtual desktops does not impose software or operating system limitations and is optimized for low bandwidth environments. Tocario operates on a pay-as-you-go basis, eliminating the need for upfront investments and ensuring the flexibility inherent to cloud services. The company has been recognized for its innovation in digital workspaces and has established partnerships with major technology firms, further solidifying its position in the industry.

avandeo

Venture Round in 2012
avandeo, a Munich, Germany- and Shanghai, China-based startup that operates an online destination for designer furniture and home accessories.

CargoGuard

Venture Round in 2011
CargoGuard GmbH develops and delivers security and transparency solutions in logistics. It offers portable tracking, secure monitoring of valuables, fixed tracking, and security container and Internet-of-Things-Lock solutions. The company also offers a cloud based security monitoring system. It serves cash and valuables transports, logistics, automotive, logistic service providers, and coordination centers, as well as manufacturing and insurance industries. CargoGuard GmbH was founded in 2007 and is based in Merseburg, Germany.

Crealytics

Venture Round in 2011
Crealytics is a performance marketing agency that specializes in the retail sector, focusing on search, shopping, and paid social campaigns across platforms such as Google, Bing, Amazon, Pinterest, and Facebook. With a team of over 150 professionals, the company emphasizes a holistic approach that integrates marketing with merchandising and pricing strategies. This integration allows retailers to optimize their product ad investments for improved profitability and Customer Lifetime Value. Crealytics leverages proprietary technology and data analytics, facilitated by an in-house team of business intelligence and data scientists, to streamline campaign management and enhance strategic decision-making. The agency operates globally, managing paid search campaigns in 150 markets and 20 languages, with offices located in London, New York, and Berlin.

intelligent fluids GmbH

Series B in 2011
Intelligent fluids GmbH, based in Leipzig, Germany, specializes in the development and production of innovative high-performance cleaning fluids. Utilizing patented technology, the company creates unique, dynamic phase fluids that achieve effective cleaning and material separation without chemical dissolving or etching, making them safer for users and the environment compared to traditional solvent-based products. Their fluids are tailored for various applications, including stripping, cleaning, and the removal of coatings in industries such as microelectronics, industrial maintenance, optics, and printing. Additionally, Intelligent fluids GmbH explores potential applications in functional skin care and dental cosmetics. The company's offerings aim to optimize processes and reduce costs while addressing ecological and economic challenges, positioning them as a leader in the transition to more sustainable cleaning solutions. Beyond its product line, Intelligent fluids GmbH also engages in joint development and private label agreements to meet specific client needs.

Phenex (Biotechnology)

Series C in 2010
Phenex Pharmaceuticals AG is a drug discovery and development company founded in 2002, based in Ludwigshafen, Germany, with additional laboratories and offices in Heidelberg. The company specializes in small-molecule drug discovery, particularly focusing on nuclear receptors, and targets various disease areas, including liver diseases, gastrointestinal disorders, and cancer. Phenex is engaged in developing innovative therapeutics, such as RORγt inverse agonists for autoimmune diseases and FXR agonists for non-alcoholic steatohepatitis. The company aims not only to create new treatments for established targets but also to explore novel molecular mechanisms, which can lead to the development of proprietary small molecules with transformative potential. Through its research, Phenex seeks to translate scientific findings into effective therapies that improve current treatment regimens for liver and cancer patients.

MTM Laboratories

Series C in 2009
mtm laboratories AG is an ISO 9001 and 13485 certified developer and manufacturer of In-Vitro Diagnostics for the early detection and diagnosis of cervical and other cancers. With headquarters in Heidelberg, Germany, and subsidiaries in the United States, France, Italy and Spain, mtm markets its proprietary CINtec(R) Histology Kit and CINtec(R) Cytology Kit as adjunct tools for the early detection and diagnosis of cervical cancer. These kits are based on mtm's proprietary E6H4(TM) antibody clone which was specifically developed for immunochemistry applications in both formalin-fixed paraffin-embedded tissue sections and alcohol fixed cervical cytology preparations. The target for mtm's cervical cancer early detection technology platforms is the evaluation of the over-expression of the cyclin-dependent kinase inhibitor p16INK4a. This sensitive and selective antibody clone is combined with GMP manufactured kit components to ensure reproducible quality and results.

Sloning BioTechnology

Venture Round in 2009
Sloning BioTechnology has developed a unique and patented technology platform to build DNA molecules with exceptional features regarding sequence limitations, reliability and production cost on an industrial scale robotic system the Slonomics technology platform.

Oxid eSales

Venture Round in 2008
OXID eSales AG, headquartered in Freiburg, Germany, specializes in providing multi-channel e-commerce solutions and services. Founded in 2003, the company develops the OXID eShop platform, an open-source shopping cart software that caters to both business-to-business (B2B) and business-to-consumer (B2C) markets. OXID eShop is recognized for its scalability, modularity, and high quality, making it a preferred choice for numerous online retailers, including notable clients like Lekkerland and Deutsche Post. The platform supports the integration of wholesalers, brand manufacturers, and other online players, facilitating a seamless e-commerce experience. In addition, the company offers the OXID eFire, a cloud-based e-commerce intelligence platform that provides a single user interface for managing various online marketing and payment services. This combination of innovative technology, a network of certified solution partners, and dedicated support teams ensures that clients benefit from flexible, customizable solutions that enhance their digital sales processes across various industries.

Phenex (Biotechnology)

Series B in 2008
Phenex Pharmaceuticals AG is a drug discovery and development company founded in 2002, based in Ludwigshafen, Germany, with additional laboratories and offices in Heidelberg. The company specializes in small-molecule drug discovery, particularly focusing on nuclear receptors, and targets various disease areas, including liver diseases, gastrointestinal disorders, and cancer. Phenex is engaged in developing innovative therapeutics, such as RORγt inverse agonists for autoimmune diseases and FXR agonists for non-alcoholic steatohepatitis. The company aims not only to create new treatments for established targets but also to explore novel molecular mechanisms, which can lead to the development of proprietary small molecules with transformative potential. Through its research, Phenex seeks to translate scientific findings into effective therapies that improve current treatment regimens for liver and cancer patients.

Sloning BioTechnology

Series E in 2007
Sloning BioTechnology has developed a unique and patented technology platform to build DNA molecules with exceptional features regarding sequence limitations, reliability and production cost on an industrial scale robotic system the Slonomics technology platform.
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