sovity, a Dortmund, Germany-based startup that offers data sovereignty as a service, secured seven-figure seed funding to boost the efficiency and innovative potential of companies by providing fast and easy access to data spaces.
Backed by High-Tech Gründerfonds (HTGF), one of Europe’s leading seed investors, and Fraunhofer Technologie-Transfer Fonds (FTTF), which has supported sovity from the beginning.
The fresh funds will be used for product development and the expansion of the company’s market presence.
“We are thrilled that we attracted another renowned investor in addition to FTTF. HTGF shares both our vision of the market and our product’s mission on Data Space technology,” says Sebastian Kleff, CEO and Co-Founder of sovity.
Since its launch in 2021, sovity has built a strong team of technology and business experts and currently employs more than ten people. With the funding, the team will focus on the further development of the product.
sovity offers access to a trial version of its software. Moreover, the sales and marketing teams will be strengthened to expand the market presence and attract new customers.
Company: sovity GmbH
Raised: Undisclosed
Round: Seed Round
Funding Month: February 2023
Lead Investors: High-Tech Gründerfonds (HTGF) and Fraunhofer Technologie-Transfer Fonds (FTTF)
Additional Investors:
Company Website: https://sovity.de/
Software Category: Data Sovereignty
About the Company: Founded in October 2021 as a spin-off of the Fraunhofer Institute for Software and Systems Engineering ISST in Dortmund, sovity offers data sovereignty as a service. Founded by Sebastian Kleff and Dr. Sebastian Opriel, sovity provides technology for data spaces based on standards such as International Data Spaces (IDS), Gaia-X, or Eclipse Foundation. Thus, sovity allows companies the easiest and fastest access to data spaces. Using data spaces, companies exchange a wide range of information to optimize processes or products and develop new business models.
Source: https://sovity.de/seed-funding-round/