IBG Fonds (IBG), which is managed by bmp Beteiligungsmanagement AG (bmp), will invest € 1 million in UniNow GmbH (UniNow). The startup began as a spinoff from the University of Magdeburg and is a mobile app that makes it easier for students to organise their day-to-day university life.
Lecture schedule, canteen menu, or exam results – almost all of this information is online nowadays. However, many universities still have outdated IT systems that are not set up in a very accessible or user-friendly way. Often there is also a lack of cooperation between the departments and university facilities and no central source of information.
Tobias Steenweg, founder and managing director of UniNow, explains, "During our studies, we ourselves experienced how inconvenient it often was to search for information. And we didn't understand at all why we as students of a university needed multiple accounts in different portals. It was quickly apparent to us – there is a much easier, more modern and more transparent way to do this."
"That's why we began back in 2013 with our first app that we used to provide our fellow students with university information. It was very well received," continues Stefan Wegener, founder and also managing director of UniNow. "We are building on this experience with UniNow and allowing students to receive a display of relevant information from the different university IT systems automatically and centrally in one app. Now we want to expand this offering quickly."
UniNow is already being used at 10 universities. Over the next half year, we expect to connect up to 15 additional universities and their systems per month. By the middle of the year, the 100 largest universities in Germany should be accessible via UniNow. At the same time, the number of users is expected to increase steadily.
"The founders of UniNow assume 45% penetration of the student market at connected universities. In terms of the 100 connected universities mentioned, this means user numbers of around 900,000 in Germany alone," explains Dr Jan Alberti, responsible partner at bmp Beteiligungsmanagement AG. "We are providing funds via IBG Fonds so that the necessary conditions are fulfilled, especially the further expansion of the backend and the mobile app as well as rapid market penetration."
About IBG Fonds
IBG Fonds finances new companies (seed and startup) with long-term and above-average growth potential that are headquartered in or have a branch office in Saxony-Anhalt. Particular attention is given to business models in the areas of life sciences/health care, surface technologies (functional coatings/new materials), mechanical engineering and process technologies, chemistry, microelectronics, microsystem technology, technical software, Internet and mobile apps. IBG Fonds has already invested in over 100 companies since 1996. There are currently around 50 companies in the portfolio. IBG Fonds has been managed by bmp Beteiligungsmanagement AG since July 2015.
Additional information: (www.ibg-vc.de)
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, the VC portfolio of bmp Holding and the Frühphasenfonds Brandenburg fund, which completed its investment phase at the end of 2014.
Further information: (www.bmp.com)
bmp Beteiligungsmanagement AG
- Public relations -
Tel.: +49-30-2030 5567