- DCi develops scan sensor technology and software for the digital preparation of vehicle valuations and inspection reports
- Start-up was established as a subsidiary of APi – International AG
Magdeburg, 4 August 2017 – The IBG Risikokapitalfonds III (IBG) fund, managed by bmp Ventures AG (bmp), has invested in the newly established DCi -Digital Car Institute GmbH (“DCi”) together with API International AG (API). Based on state-of-the-art digitalisation technologies and the latest findings from AI (artificial intelligence) research, the company based in Halle (Saale) will develop software products and scan sensor technology for vehicle assessments. In this round of financing, DCi will receive funds in the mid single-digit millions.
The automotive market – one of the biggest global markets with an estimated total volume of USD 4.7 trillion per year – is in upheaval. Sales of new and used cars are already increasingly taking place via online platforms, and new mobility concepts such as car sharing are in vogue.
“As a result of the changes in the market, institutional vehicle owners’ requirements for vehicle inspections and for the documentation of damage to vehicles are also changing. At the same time, repair shops are forced to continuously improve their work processes and tap new sources of revenue. In this context, the need for simple, time-saving and cost-efficient options for digitalizing vehicle data has grown considerably,” says Martin Borsik, Managing Director of DCI.
Jozsef Bugovics, co-founder and co-investor, adds: “Instead of being inspected on a hoist, in the future cars will drive into a scanner station where they will be photographed and scanned from all sides. Using the DCi cloud, the individual vehicle data generated in this way will be analysed, aggregated and contextually linked semantically with information on the vehicle model and image data. By means of the hardware and software used, this will ultimately create a complete digital image of the vehicle and its condition – and will do so quickly and cost-efficiently. We are delighted to have gained the IBG funds and bmp Ventures as co-investors for the further development of the technology and the marketing of DCi.”
The new technology provides vehicle fleet managers, leasing companies, insurance providers, used car dealers and many others with completely new possibilities to redefine their traditional business. In the area of vehicle re-marketing in particular, new opportunities are arising for comprehensive online marketing.
Dr Jan Alberti, the bmp Ventures Executive Board member responsible for investment, explains: “DCi is currently the only provider of a complete, automated digitalisation solution for assessing an entire vehicle. The digital 3D model of a vehicle created with the DCi technology can be used in the future to assess damage, to determine value, or for P2P marketing purposes, and will facilitate new business models in the field of automobile re-marketing. DCi is an excellent fit for our investment focus in the digital automotive sector. We are delighted to be able to support the company with the IBG funds.”
About the IBG funds
The IBG funds, based in Magdeburg, are the risk capital funds of the German state of Saxony-Anhalt. The IBG funds provide investment capital for new, innovative technology companies (seed and start-up) with long-term and above-average growth potential that are headquartered in or have a branch office in Saxony-Anhalt. The IBG funds have already invested in over 100 companies since 1996. At the moment, there are approximately 50 companies in the portfolio. The IBG funds are managed by bmp Ventures AG, Berlin and Magdeburg.
About bmp Ventures
With a background of experience of more than 250 investments in almost all technology segments, the majority of which were early phase, bmp is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp’s activities also include managing risk capital funds for KfW Bankengruppe and DEG - Deutsche Investitions- und Entwicklungsgesellschaft. bmp currently manages the IBG funds in Saxony-Anhalt and the Frühphasenfonds Brandenburg fund.
bmp Ventures AG
- Public Relations -
T +49-30-2030 5567
Office Berlin: Schlüterstraße 38 | 10629 Berlin
Dr. Jan Alberti
- Executive Board Member -
Office Magdeburg: Kantstraße 5 | 39104 Magdeburg
DCI – Digital Car Institute GmbH
- Managin Director -
Office: Augustastraße 4 | 06108 Halle (Saale)