livil closes successful seven-figure financing round and paves the way for further growth way for further growth
Halle (Saale) 10.10.2024 – livil, an innovative software company specializing in communication and productivity applications for drivers, is pleased to announce the successful closing of another financing round. The fresh capital will accelerate the company’s growth, drive product development and enable expansion into new markets.
livil offers an integrated software solution that enables drivers to use their time behind the wheel productively without compromising safety. About voice control, generative AI and a user interface specially developed for the car, drivers have access to messaging services, calendars, emails and other business applications. This minimizes distractions and helps them to work efficiently on the road.
“We are delighted with the trust and support that our investors have shown us”, says Nils Frers, CEO of livil. The financing will allow us to further advance our vision and strengthen our position as a leading company in the field of in-car productivity.”
In the current financing round, led by bmp Ventures with IBG Fund IV, livil (Autonomy on Board GmbH) has raised a seven-digit amount. In addition to the existing investors, new well-known private investors who are contributing their expertise and networks in the field of automotive and mobility technologies.
“With livil, Autonomy on Board has solved a central problem of software application while driving,” adds Dr. Jan Alberti, Managing Partner of bmp Ventures. “Thanks to AI, voice control, and a multi-interface for office applications, the driver can safely interact with the software independently of the infotainment system. The customer and sales pipeline includes prominent companies in the automotive industry. We are pleased to have found suitable business angels with extensive industry expertise to support the development and financing of livil.”
With the financing, livil plans to further expand the development of the platform, deepen strategic partnerships with car manufacturers and drive forward the internationalization of the company. The focus here is on
scalability and seamless integration into existing vehicle operating systems.
About IBG funds
The IBG funds, headquartered in Magdeburg, are the venture capital funds of the country of Saxony-Anhalt – they provide capital to young, innovative technology companies with sustainable and above average growth potential, based in Saxony-Anhalt. By the end of 2023, IBG launched the new venture capital fund, RKF IV, with a volume of 63 million euros. The fund is financed by the state and the European Union and invests in innovative startups in Saxony-Anhalt in the seed, early stage, and expansion. The IBG funds are managed by bmp Ventures AG.
About bmp Ventures
With a track record of over 250 investments across nearly all technology segments, mainly in the early-stage phase, bmp Ventures is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp managed venture capital funds for institutions such as the KfW Banking Group and DEG, the German Investment and Development Corporation. Currently, bmp oversees the IBG funds in Saxony-Anhalt and employs approximately 20 experts across its Berlin and Magdeburg locations.
livil
Autonomy on Board GmbH, based in Halle (Saale), was founded in 2020 and has set itself the goal of increasing the productivity of drivers and to revolutionize the way people use their time in the vehicle. With innovative solutions and a strong focus on user-friendliness and safety, livil has quickly attracted the interest of leading car manufacturers and is ready to enter the next phase of growth.
Press contact
bmp Ventures AG
Josephine Gantze
– Marketing and Events –
Phone: +49 391 5328 140
jgantze@bmp.com
Autonomy on Board GmbH
Nils Frers
– Management –
info@livil.co
