"We are very excited about winning the pre-seed financing. It is a strong proof of confidence in OndoSense's strong innovation skills and future viability as well as in the attractiveness of our start-up to customers, partners and investors. Based on the high interest of our micrometer-precision, network-capable and highly robust sensor solutions on the market, we can step up the successful marketing of our radar sensors and software in industrial applications", explains Dr.-Ing. Mathias Klenner, co-founder and CEO of OndoSense.
With the investment program "Start-up BW Pre-Seed", the economically strong German region of Baden-Württemberg awards promising and highly innovative start-up projects. It also supports them in the further venture capital financing by institutional or private investors. OndoSense's pre-seed network partner is bwcon (Baden-Württemberg: Connected), Baden-Württemberg's leading economic initiative for the promotion of innovation and high-tech locations. The "Start-up BW Pre-Seed" financing is provided by L-Bank and Volksbank Ortenau.
The "Start-up BW Pre-Seed" funding program was launched in July 2018 by Baden-Württemberg's Minister of Economic Affairs Nicole Hoffmeister-Kraut. The aim is to support innovative founders in the so-called pre-seed phase, in which private investors and venture capital companies (VCs) are more reluctant. "In Baden-Württemberg, a number of business ideas are already waiting for the chance to finally prove that they have the potential to be the next medium-sized enterprise or even more," said the Minister. "We want to promote this potential with our new program."