Shortly after the original founding of IFESCA GmbH, the founders succeeded in securing start-up financing for their company. The Ilmenau-based start-up focuses on the development and marketing of a cloud-based software solution using artificial intelligence. This is intended to solve highly complex forecasting and optimisation tasks in the shortest possible time and in a comfortable way. This innovative concept convinced the Thüringer Aufbaubank subsidiary bm|t (bm‑t beteiligungsmanagement thüringen gmbh), which consequently invested in IFESCA GmbH via the TSF (Thuringian Start-up Fund) with a six-figure sum. This ensured the financing of the establishment of the company as well as the development of this innovative software solution.
Regardless of the industry, companies have to make a large number of decisions every day. Decision support systems are used for this purpose, but they are reaching their limits due to increasing digitalisation (keyword: “Industry 4.0” or “Big Data”) and the resulting flood of data. IFESCA GmbH plans to take this into account on the basis of a completely new software architecture approach. This approach will make it possible to significantly increase both the forecast quality and optimisation quality as well as the degree of automation and the performance of the entire system compared to the use of conventional solutions. For the customer, this will result in enormous increases in efficiency and cost savings. The first target market is the German and, in the medium term, the international energy market. The background is the founders’ many years of experience in this area due to their previous work at Fraunhofer IOSB-AST. In the energy industry environment, companies are characterised by the fact that they regularly have to create forecasts of energy quantities or outputs, which in turn form the basis for calculating optimal decisions regarding energy trading, energy supply, energy conversion and energy transport. The young team of specialists led by Managing Director Sebastian Ritter is convinced that such a high-performance and user-friendly forecasting and optimisation system will also arouse interest in many other sectors, such as the insurance sector or forwarding companies.
About the TSF: The TSF has a volume of € 18.75 million and can invest up to € 1.2 million in young, innovative start-up companies from Thuringia in the form of minority holdings. The start-up may not have been founded more than 5 years ago.
About bm|t: bm|t, based in Erfurt, is a subsidiary of the Thüringer Aufbaubank and one of the top addresses for investments in Thuringia. bm|t currently manages eight funds with a total volume of around 320 million euros, which invest in innovative companies in almost all sectors and in all phases of corporate development, both in the start-up and growth phases or in corporate succession situations.
About IFESCA GmbH: IFESCA GmbH was founded in December 2016 and comprises a multidisciplinary team of experts currently consisting of 7 employees who have already worked together successfully for many years. The young company thus combines innovative ideas and visions with many years of experience in the entire spectrum of software development for the German and international energy market, sales, marketing and support, and scientific expert knowledge in the areas of forecasting and optimisation.