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 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 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."