Halle, 15.04.2019 – IBG Risikokapitalfonds III, managed by bmp Ventures AG, and other angel investors are investing a double-digit million amount in Twinner.com (Twinner GmbH), the leading platform for vehicle digitization.
Twinner, based in Halle (Saale), developes and operates a hard- and software solution for the digitalization of vehicles. Using the most current sensor technologies and latest findings from AI research, Twinner generates digital twins of vehicles within an extremely short time. The vehicle is driven into a Twinner Space, where it is completely digitized and captured by a multi-sensor system. From the captured data, a unique digital twin ("Digital Twinn") is created, which is available to the market in a high-quality 360°representation.
The "Digital Twinn" closes an essential gap of all existing digital value chains within the automotive sector. At the push of a button, it provides an objective and representative basis for the evaluation of vehicle conditions, especially in the case of ownership or usage transfers. This not only significantly simplifies and accelerates the sale of used cars, but also many processes such as financing and insurance of vehicles. Objective evaluations of damages can be handled more risk-free and with a higher degree of automation for all market participants. This transparency within the value chains reduces costs for all parties involved and provides the basis for new online business and mobility models.
"As the market changes, the demands by institutional vehicle owners for vehicle inspections and documentation of vehicle damage are also changing. At the same time, car repair shops are forced to continuously improve work processes and open up new sources of revenue. With this background, the desire for simple, time- and cost-efficient options for digitizing vehicles has risen sharply. This financing enables us to further develop the Twinner and to sell it worldwide," says Geert Peeters, Managing Director of Twinner GmbH.
Jozsef Bugovics, co-founder and co-investor, explains: "In the future, the car will drive into a Twinner Space instead of onto the lifting platform, where it will be photographed and scanned all around. With the help of the Twinner Cloud, the resulting individual vehicle data - with facts about the vehicle type and image data - is analyzed, aggregated and semantically linked in context. The hard- and software used ultimately produces a complete digital image of the vehicle and its current condition - quickly and cost-effectively. We are pleased about the great interest in our product, which has already won car dealerships and car manufacturers from Germany as well as China as Twinner customers. Therefore several thousand Digital Twinns have already been performed".
Dr. Jan Alberti, Managing Partner of bmp Ventures, comments: "The Twinner is the only provider of an automated and full digitization solution to capture an entire vehicle. The digital 3D model of a vehicle created by Twinner technology can be used for damage and value assessment or online marketing and enables new business models in the field of re-marketing used cars. The company with more than 50 employees in Halle has managed to bring a high-quality industrial product to the market. The successful market entry and the enormous market potential convinced us once again to invest in Twinner GmbH together with co-investors".
Twinner® is a gamechanger for the automobile trade. The mission of Twinner® is to digitally depict vehicles, separate vehicle inspections from place and time and thus initiate a new era of transparency, security and trust in one of the largest trading markets in the world. Twinner® produces an unprecedented dataset of each vehicle, a digital twin. With the Digital Twinn®, the customer sees more virtually than if he was standing in front of the car in person. Maximum objectivity: simple, fast, at a glance - or as the motto makes clear: "More than you can see". The start-up located in Leipzig and Halle already employs a team of over 150 experts, all of whom have extensive experience in the automotive, start-up and innovation industries.
About the IBG-Fonds
The IBG funds, based in Magdeburg, are the venture capital funds of the German state of Saxony-Anhalt. The IBG funds provide investment capital for innovative companies with long-term and above-average growth potential that are headquartered in or have a branch office in Saxony-Anhalt. At the start of 2017, IBG set up the new RKF III venture capital fund with a volume of EUR 84 million. The fund is financed by the state and European Union and invests in innovative companies in Saxony-Anhalt in their seed, startup and growth phases. It is open available to company founders, but also SMEs with product or process innovations and good market experience. The IBG funds are managed by bmp Ventures AG.
About bmp Ventures
With an experience background of over 250 investments from almost all technology areas, most of which are in the early stages, bmp is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp's activities also include managing venture capital funds for KfW Bankengruppe and DEG - Deutsche Investitions- und Entwicklungsgesellschaft. bmp currently manages the IBG funds in Saxony-Anhalt and the Frühphasenfonds Brandenburg. bmp has around 20 employees in Berlin and Magdeburg.