The Berlin start-up High Mobility, which is specialized in the development of software for connected cars, has today closed its seed funding round with a 7-digit investment to finance further expansion of the business. The new funds will be used on development, sales and quality assurance along with an extension of electro-mobility products. High Mobility founders Kevin Valdek and Risto Vahtra attracted as principal investors a consortium of business angels headed by Fabian von Kuenheim, which also includes the Kuwaiti business man Ali M.T. Alghanim. Furthermore, they could win the Berlin based venture capital firm IBB Beteiligungsgesellschaft with their managed VC Fonds Technologie Berlin as second investor in this round.
High Mobility connects cars with applications around them — directly, securely and offline
High Mobility has developed a software platform which allows cars to connect with their surroundings in a simple, secure and direct way. This enables a multitude of application scenarios to be realized such as keyless access control, personalization settings and communicating with infrastructure, e.g. charging poles (electric cars) or car parks (payment machines). The integration of smartphones or other mobile devices (such as wearables) is also simple and secure. High Mobility’s technology distinguishes itself from existing solutions by not requiring an internet connection. Services can therefore be offered where mobile networks are restricted such as in underground garages and car parks.
The software platform as an innovations interface for digital car applications
The High Mobility’s platform enables car makers as well as independent developers to quickly and flexibly launch new ideas and to provide them to customers as apps. For car makers, the platform serves as an interface for innovation, which accelerates the speed of new business models and services into connected cars. For developers, the platform serves as a direct and secure entry point to bring their applications and services into the market of connected cars.
“We see the technology of High Mobility as a key to the success of connected cars. Every car in the future will have such interfaces. The team convinced us with its vision and skills. It’s now about optimizing the product and making the business into a major player in the automotive world. Our role covers investment and business experience and we’re ready to provide lots of both”, said Fabian von Kuenheim.
“The automotive industry is facing major and exciting challenges. The connected car will fundamentally change mobility as we know it. High Mobility is to be a major part of this. We are really happy to have found top investors to help us on our way”, added Risto Vahtra, CEO of High Mobility.
In addition to the funding, High Mobility has set up an advisory board to provide the founders with industry and business expertise. The board includes Fabian von Kuenheim as well as Holger G. Weiss, who will bring his experience from Gate5 and Aupeo, and Stephan Schulze, Investment Director at IBB Beteiligungsgesellschaft.
About Fabian v. Kuenheim:
Kuenheim Familiaris GmbH is the private investment company of the family of Fabian v. Kuenheim. Fabian v. Kuenheim (Dipl. Ing. Mechanical Engineering, Technical University of Clausthal, Germany) was founder, biggest shareholder and head of the board of Magirus AG, which was successfully sold to Avnet Inc. He uses Kuenheim Familiaris GmbH for sole or syndicated investments into high-tech companies in the areas of IT infrastructure and cloud computing, photonics, med tech, mobility and integrated mobile systems as well as companies that address the interfaces of these technologies.
Fabian v. Kuenheim
Kuenheim Familiaris GmbH
About Ali M. T. Alghanim:
Ali M. T. Alghanim is a Kuwaiti citizen and holds a degree in Mechanical Engineering (Dipl. Ing.) from the Technical University of Hannover, Germany. He is a controlling shareholder in several companies in the Gulf States as well as in Germany, including Ali Mohammad Thunayan Alghanim & Sons General Trading Co., Kuwait, Ali Alghanim & Sons Automotive Co., Kuwait and Michael Weinig AG, Germany. Mr. Alghanim is the president of the Chamber of Commerce of Kuwait and is widely acknowledged for forging close ties between the German and Kuwaiti governments. He represents most Kuwaiti investments in Germany, may they be done by public or private entities. In light of his merits with respect to the German-Kuwaiti friendship, Mr. Alghanim was awarded the Commander’s Cross of the Order of Merit of the Federal Republic of Germany by the German Federal President in 2005.
Chairman & Vice Chairman Office Manager
Ali Alghanim & Sons Automotive Company
Post Box 21540, Safat 13076
About IBB Beteiligungsgesellschaft mbH
IBB Beteiligungsgesellschaft (www.ibb-bet.de) provides innovative Berlin-based companies with venture capital and has established itself in Berlin as a market leader in early-stage financing. The funds are used primarily for developing and launching innovative products or services and creative business concepts. Currently, two funds managed by IBB Beteiligungsgesellschaft are in the investment phase: the VC Fonds Technologie Berlin, with assets of 60 million EUR, and the VC Fonds Kreativwirtschaft Berlin, with assets of 40 million EUR. Both VC funds are subsidized by the Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), managed by the State of Berlin. Since 1997, in consortiums with partners, IBB Beteiligungsgesellschaft has provided more than 1.1 billion EUR to Berlin-based creative and technology companies, with IBB Beteiligungsgesellschaft investing approximately 157 million EUR as the lead-, co-lead- or co-investor.
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