Sensor startup OndoSense wins coveted "Start-up BW Pre-Seed" financing
Award emphasizes sustainability of OndoSense's accurate and robust sensor solutions for production processes
Freiburg, 1 August 2019 - As a specialist for high-precision, robust and networkable sensors for industrial applications, OndoSense has won the "Start-up BW Pre-Seed" financing of the German region of Baden-Württemberg in the amount of 400,000 EUR. With the startup's sensor solutions, the automation of production processes is for the first time possible with a precision in the micrometer range. With robust radar technology, OndoSense sensors are reliable even in harsh environments such as noise, dirt, smoke or steam.
"We are very excited about winning the pre-seed financing. It is a strong proof of confidence in OndoSense's high innovative strength 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."
OndoSense realizes high-performance, smart, networkable sensor solutions based on innovative radar technology and "intelligent" sensor software for monitoring, controlling and regulating production plants and machines. OndoSense sensor solutions are characterized not only by the highest precision in the micrometer range: Due to the robust and compact radar technology, the sensors are also easily applicable in challenging environments with noise, dust or smoke. OndoSense radar sensor technology is "Industry 4.0 or IOT ready" and suitable for various industrial applications and industries. Examples include human-robot collaboration in the automotive industry, predictive maintenance in the energy sector, control technology in steel processing, level measurement and liquid analysis in the chemical and Pharma or material inspection and quality control in production environments.
The company, based in Freiburg im Breisgau, was founded in 2017 by two radar experts from the Fraunhofer Institute for Applied Solid State Physics IAF.
Bwcon is the leading economic initiative for the promotion of the innovation and high-tech location Baden-Württemberg. It sees itself as a service provider that offers companies support in the digital transformation process by managing ideas, designing new business models and making innovation processes more flexible. One of the services of bwcon is the development of methodological knowledge required to initiate the digital transformation process. This includes the moderation of innovation processes and the subsequent consultation on business process development including financing. In support of this, bwcon has set up its own platform with the Venture Development System, which holistically reflects this process.
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