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bm|t newsletter Q4 2020

It is surely an over-used adage that crises bring oppor­tu­nity, but the year 2020 and the extra­or­di­nary deter­mi­na­tion and cre­ativ­ity that our Investee-Part­ners exhib­ited in the face of the COVID-19 pan­demic demon­strates the deep impor­tance of this say­ing. It was truly inspir­ing to see so many of our Investee-Part­ners quickly adapt to the dif­fi­cult cir­cum­stances and find cre­ative ways to directly com­bat the pan­demic and con­tinue to drive their com­pa­nies forward.

In this Newsletter 

Inspiring Innovations in the Face of COVID

Investee-Partner: rooom AG
Innovation: EXPO‑X (online event platform)

We all know that the pan­demic quickly brought con­fer­ences and larger events to a screech­ing halt. At the start of the year, rooom, a soft­ware com­pany focused on AR/VR/3D tech­nol­ogy, had not even thought about this prod­uct, but the com­pany quickly real­ized its exper­tise and tech stack would allow it to quickly build a vir­tual con­fer­ence envi­ron­ment. EXPO‑X was cre­ated and it greatly enhanced the expe­ri­ence of dig­i­tal events. bm|t ben­e­fited from this inno­va­tion not only as an investor but also as a cus­tomer, as Investor Days Thürin­gen (which we co-host with the STIFT), was the first event to use EXPO‑X, and it was a great success.

The IFA used EXPO‑X to invig­o­rate its extremely large event, and this increased rooom’s vis­i­bil­ity mas­sively. This enhanced vis­i­bil­ity greatly accel­er­ated cus­tomer acqui­si­tion for the company´s core 3D soft­ware offer­ings, pri­mar­ily for prod­uct mar­ket­ing. Within a few months rooom went from not hav­ing con­ceived the EXPO‑X prod­uct prior to COVID-19 to hav­ing the prod­uct on the mar­ket and hav­ing it play a sig­nif­i­cant role in enabling con­fer­ences dur­ing the pan­demic. This inno­va­tion was a cat­a­lyst to pro­pel the entire com­pany for­ward – that is pow­er­ful, turbo inno­va­tion at its finest!

Investee-Partner: InflaRx NV
Innovation: IFX‑1 for COVID-19 treatment

The news is packed with cov­er­age about COVID-19 vac­cines; how­ever, it will cer­tainly be impor­tant to have good treat­ment options as well for quite some time. InflaRx is devel­op­ing its lead anti­body, IFX‑1, for its role in inhibit­ing the inflam­ma­tion cas­cade that is often the main cause of severe adverse effects (includ­ing death) from disease.

The com­pany is pri­mar­ily focused on der­ma­tol­ogy indi­ca­tions, but it quickly rec­og­nized that IFX‑1 could poten­tially play a pos­i­tive role in com­bat­ing the deadly effects of the inflam­ma­tion cas­cade for COVID-19 patients as well. InflaRx worked with the FDA to fast track IFX‑1 for severe COVID-19 induced pneu­mo­nia. The results of the phase III clin­i­cal trial should come shortly, and, we are hope­ful that the results will be pos­i­tive and that IFX‑1 treat­ment for COVID-19 patients will be a life-sav­ing innovation.

Investee-Partner: Intercept GmbH
Innovation: Protective masks with polymerized copper-ion filters

Inter­cept’s core tech­nol­ogy is the inte­gra­tion of poly­mer­ized cop­per-ions in mul­ti­ple mate­ri­als to pre­vent metal cor­ro­sion and mold on fab­ric or food dur­ing ship­ping and stor­age. With the COVID-19 pan­demic, the com­pany quickly real­ized that it could use its tech­nol­ogy to pro­duce pro­tec­tive masks with poly­mer­ized cop­per-ion fil­ters to stop and deac­ti­vate the corona virus.

The com­pany is also cur­rently work­ing on build­ing its tech­nol­ogy into air fil­ter­ing prod­ucts for enhanced safety in larger areas. We can per­son­ally attest that Intercept’s masks are excel­lent, and we greatly admire this inno­va­tion that helps pre­vent the spread of COVID-19.

Investee-Partner: neuroCare Group
Innovation: Digital Onboarding of Clinicians

neu­ro­Care is a unique com­pany in the men­tal health space that pro­vides a Dig­i­tal Ther­a­peu­tics (DTx) plat­form, proven in its own clin­ics across mul­ti­ple coun­tries and con­ti­nents. Its DTx plat­form inte­grates neu­ro­mod­u­la­tion tech­nol­ogy and train­ing to pro­vide per­son­alised ther­apy expressed in best clin­cial prac­tice SOPs (Stan­dard Oper­at­ing Procedures).

His­tor­i­cally, the com­pany pri­mar­ily con­ducted clin­i­cian onboard­ing phys­i­cally in coun­tries where its own clin­ics are located or its train­ers trav­elled to cus­tomers. COVID-19 made trav­el­ling for train­ers or large gath­er­ings of clin­i­cians from around the world impos­si­ble, so the com­pany greatly accel­er­ated its efforts to move the entire onboard­ing pro­gram online. Not only did this allow neu­ro­Care to con­tinue to train clin­i­cians for treat­ing men­tal health dis­eases, which sadly will be grow­ing dra­mat­i­cally due to the effects of the pan­demic, but the com­pany started receiv­ing requests from clin­i­cians all over the world.

Refus­ing to be derailed by COVID-19 led neu­ro­Care to an inno­va­tion that increased access to impor­tant men­tal health train­ing and expanded its busi­ness reach.

This newslet­ter does not have ample space to share all the impres­sive exam­ples of our Investee-Part­ners’ inno­va­tions in the face of COVID-19; how­ever, we can con­fi­dently state that across the board our Investee-Part­ners have impres­sively met the chal­lenge of COVID-19. These inno­va­tions are inspir­ing and keep us opti­mistic that we will recover from the pan­demic and that human progress will con­tinue on its great arc.

Your inspired and opti­mistic bm|t Team

Welcome to the Family

Vision2B has devel­oped a dig­i­tal health plat­form focused on help­ing peo­ple man­age dis­ease more eas­ily and effec­tively by pro­vid­ing valu­able information/feedback, increas­ing com­pli­ance with pre­scribed reg­i­mens, and facil­i­tat­ing physi­cian-patient inter­ac­tions. The com­pany is ini­tially focused on two large cat­e­gories with high costs for soci­ety: dia­betes and heart dis­ease, and will be rolling out addi­tional indi­ca­tions in the future. The dig­i­tal health space, aided by new sup­port­ive reg­u­la­tion and reim­burse­ment path­ways in Ger­many, is boom­ing. Vision2B sets itself apart from com­peti­tors through excel­lent clin­i­cal results in a rig­or­ous, third-party admin­is­tered trial and the strength of its plat­form, which has been devel­oped over many years. bm|t was joined by MBG Thürin­gen and an expe­ri­enced pri­vate investor from the health­care admin­is­tra­tion sec­tor in this seven-fig­ure invest­ment round focused on rapid mar­ket entry.

Revin­cus has devel­oped an inno­v­a­tive method for con­serv­ing and reusing a large por­tion of the energy stored in hot or warm water. For sin­gle homes or larger res­i­den­tial build­ings, the energy costs of heat­ing water are quite sig­nif­i­cant. Revin­cus’ inge­nius sys­tem extracts or reuses the heat energy from hot and warm grey­wa­ter (water com­ing from show­ers, wash­ing machines, dish­wash­ers, etc.) that oth­er­wise would have exited the build­ing along with waste water. bm|t was joined by Sparkasse Jena and MBG Thürin­gen in this ini­tial seven-fig­ure invest­ment round focused on final­iz­ing the tech­nol­ogy and bring­ing this promis­ing and eco­log­i­cal prod­uct to market.

Follow-on Investments

siOP­TICA is a lead­ing devel­oper and sup­plier of switch­able screen pri­vacy-fil­ter tech­nol­ogy with many appli­ca­tions in auto­mo­tive pas­sen­gers dis­plays, lap­tops, tablets, mobile phones, and pay­ment ter­mi­nals. Data pri­vacy is an extremely impor­tant topic, and siOP­TICA is well-posi­tioned to play an instru­men­tal role in rev­o­lu­tion­iz­ing screen-based data pri­vacy solu­tions. bm|t led this nearly two mil­lion euro round and was joined by Capital‑E from Bel­gium and sev­eral expe­ri­enced busi­ness angels. The funds will be used to drive fur­ther indus­tri­al­iza­tion and high-vol­ume man­u­fac­tur­ing of the company’s prod­ucts, mar­ket­ing, and R&D for future dis­play technologies.

read more ›

Influ­nate offers a patented and rev­o­lu­tion­ary tech­nol­ogy in the field of social media pay­ment. With Influnate’s tech­nol­ogy, it is easy to send money directly within the com­ments sec­tion of social media plat­forms – truly the eas­i­est way to send money glob­ally, bar none. Influ­nate is cur­rently inte­grated on Insta­gram, Twit­ter, Twitch (where live-stream usage of Influ­nate is grow­ing expo­nen­tially in Ger­many) and Red­dit with more plat­forms to fol­low. The company’s mar­ket entry strat­egy is ini­tially focused on influ­encers and cre­ators but Influ­nate also has its sights set on the global P2P pay­ment space. bm|t was joined by MBG Thürin­gen and NT.AG in this seven-fig­ure round focused on accel­er­at­ing and man­ag­ing rapid user growth.

read more ›

Hey­fair’s vision is to rad­i­cally improve the use of hand dis­in­fec­tant by mak­ing the cov­er­age vis­i­ble to the user and oth­ers. The com­pany has strong IP around the addi­tion of a spe­cial dye that makes hand dis­in­fec­tant appear col­or­fully when applied and sub­se­quently the color com­pletely dis­ap­pears within two min­utes of appli­ca­tion. Mak­ing the com­plete­ness (or lack thereof) of hand dis­in­fec­tant appli­ca­tion vis­i­ble helps to ensure that med­ical staff suf­fi­ciently dis­in­fect between each encounter with a patient. With the rise of antibi­otic-resis­tant super bugs, it is imper­a­tive that med­ical prac­ti­tion­ers have a tool to vis­i­bly ver­ify and incen­tivize their actions to min­i­mize the spread of dis­ease in their hos­pi­tals and clin­ics. With this invest­ment from bm|t and mul­ti­ple expe­ri­enced busi­ness angels Hey­fair is well posi­tioned to achieve its mis­sion of rein­vent­ing hand sanitation.

Dash­fac­tory pos­sesses an inno­v­a­tive prod­uct to help pro­tect bicy­cle rid­ers from hit and run acci­dents. The company’s solu­tion is a rear-mounted cam­era that is GDPR com­pli­ant because it only saves video mate­r­ial when the legally required dis­tance of pass­ing cars has been breached and the risk of an acci­dent is estab­lished. The Dash­bike dash­cam can also gen­er­ate urban and traf­fic data to assist in dig­i­tiz­ing bicy­cle traf­fic for smart infra­struc­ture plan­ning. Dash­fac­tory part­ners with cities to make a valu­able con­tri­bu­tion to safer bicy­cle infra­struc­ture by pro­vid­ing data such as crit­i­cal risk spots, fre­quented routes, and road con­di­tions. The company’s founders are well net­worked in the tightly-knit world of cycling, which will allow for eased mar­ket entry for this inno­v­a­tive, life-pro­tect­ing prod­uct that can also eas­ily address tan­gen­tial mar­kets such as e‑scooters. bm|t, MBG Sach­sen and a U.S. Amer­i­can Busi­ness Angel funded this round focused on pro­duc­tion and ini­tial sales.

bm|t Investment Statistics

In Q4, Star­tupde­tec­tor, a com­pany that pro­vides com­plete mon­i­tor­ing of early-stage invest­ment activ­ity in Ger­many, ranked bm|t as the 10th most active VC investor in Ger­many. This sta­tis­tic is a tes­ta­ment to the strength of #Thürin­gen­Tech­nol­ogy and is some­thing for which we are espe­cially grate­ful, given that the major­ity of our fourth quar­ter invest­ing activ­ity came from two recently ini­ti­ated funds (one state-funded and one fed­eral-funded) to com­bat the effects of COVID-19 on early-stage companies.

This strong fourth quar­ter was an excel­lent fin­ish to a very active invest­ment year for bm|t, in which 32 of our Investee-Part­ners com­pleted financ­ings. Of those financ­ings, 21 were over seven fig­ures – a record level of larger invest­ment rounds for bm|t. For more infor­ma­tion about our invest­ment sta­tis­tics in 2020 please see this press release.