Luminovo, a Munich, Germany-based AI-powered software suite helping electronics leaders bring vital innovations to market faster, cheaper, and more sustainably, announced that it raised €11 million in seed funding to finance this transformation of the electronics industry.
The round was led by Chalfen Ventures, with participation by Tencent, Verve Ventures, and Khadjavi Capital Partners, as well as existing investors La Famiglia and Cherry Ventures.
This funding will be used to accelerate product development, broaden its scope to include more of the value chain, and grow its product engineering and revenue teams.
Company: Luminovo GmbH
Raised: €11.0M
Round: Seed Round
Funding Month: Aug 2022
Lead Investors: Chalfen Ventures
Additional Investors: Verve Ventures and Khadjavi Capital Partners
Company Website: https://luminovo.ai/
Software Category: Electronic Software Suite
About the Company: Launched in 2020, and led by Munich-based Stanford alumni Sebastian Schaal and Timon Ruban, Luminovo is the world’s first end-to-end cloud-based software suite built to help fuel technological progress through the improvement of hardware development on a global scale. The suite digitally connects stakeholders and data silos to allow for intelligent automation and real-time collaboration. Luminovo accelerates innovation by reducing the time and resources required to transform an idea into a market-ready electronic product—currently offering LumiQuote (EMS RfQ software), Stackrate (PCB software), and eventually building the next-generation electronics software suite. Its mission is to rethink the entire electronics value chain to make it more efficient, effective, and impactful.
Source: https://luminovo.ai/blog-posts/luminovo-raises-eu11-million-in-seed-funding-to-fix-the-broken-electronics-value-chain-with-transformative-software-suite