Seven-figure investment: Further growth capital supports the digital back coach of 8sense
8sense convinces numerous customers and by now a further capital investor. The start-up 8sense is located in Rosenheim, Germany and developed a virtual back coach consisting out of a sensor and a mobile application. In the framework of seed investment, the company 8sense achieves to receive a million euro sum – even before the product launch in April 2019.
“In the beginning, we founded 8sense having the idea to develop a smart textile to measure the users’ postures.” explains one of the two founders Ralf Seeland. “Nearly two years later and after a lot of changes and iterations, the new product is market-ready. It’s a holistic digital back coach. Only one clip which can be easily attached on the clothes and is connected to a mobile app.”
“It’s very difficult to win new customers even if your product isn’t ready yet.”, notices co-founder Christoph Tischner. “Regarding this, I think we did a good job as we managed to win a number of investors over. We are very proud of receiving a huge investment from the High-Tech Gründerfond (HTGF) as a risk capital provider and from Thieme Group as a strategic partner in the area of healthcare.”, adds Christoph Tischner. “8sense successfully brought traction on the market and won great business partners. We are looking forward to cooperate with the professional and committed team of 8sense, in order to shape the healthy backs of tomorrow.”, completes Dr. Lena Krzyzak, investment manager of the HTGF. “Thieme is especially impressed by the user-oriented approach of the software.”, explains Dr. Udo Schiller, responsible for Products & Solutions in Thieme’s management. “With the innovative concept of the back coach we strengthen the back and the health of many people together with 8sense”, Dr. Schiller substantiates Thieme’s commitment to 8sense.
“The development of a product like this is complex and highly resource-intensive. We are developing hardware and coding firm-and software. To this, money and time are required, even tough there is no turnover in the beginning.”, says Ralf Seeland. “Therefore, the investment’s majority will be spent on product development, in order to improve the coaching system for our users. Especially, the improvement of algorithms will be a focus task to optimize analysis and evaluation of movements.”
Get to know the High-Tech Gründerfond
The seed investor High-Tech Gründerfond (HTGF) funds technology start-ups with growth potential. The HTGF holds in total 892.5 million EUR allocated to three different funds. Since 2005, the HTGF supported by a huge international partner network already funded more than 500 start-ups. A team of experienced investment managers, start-up experts supports recent enterprises with know-how, entrepreneurial spirit and passion. Mostly start-ups within the branches of software, media and internet, hardware, automation, healthcare, chemistry and life sciences are promoted. More than two billion EUR capital has been invested so far in the HTGF portfolio by extern investors. Hence, 1.400 investments resulted as a consequence. Furthermore, the HTGF sold shares to more than 100 companies.
Get to know the Thieme Group
Thieme is a market-leading provider of information and services, which contribute to improve health and provision of healthcare. Thieme is a family business with more than 1000 employees and develops digital and analog offers for medicine and chemistry. The international company holds globally eleven sites and receives support from a broad network of experts and partners. In addition, Thieme published more than 200 high-quality journals and about 4400 books.
Shareholders of 8sense GmbH from the left: Beurer Group, Thieme Group, High-Tech Gründerfond, Christoph Tischner, Ralf Seeland and Dominic Boenisch (as a representative of further Business Angels).