Software: Darmstadt-based Fraunhofer Spin-off Wetransform announced new investment, CADFEM has invested in this Pre Series A round together with the HTGF

Wetransorm announced:

“Wetransform: New Investment and Our Plans for 2021

by Thorsten Reitz

As for many of you, 2020 wasn’t exactly easy for the team at wetransform. It would have been a challenging year even without COVID-19, given the big INSPIRE deadline in October.

In the end, the hard work and resilience paid off though: We were able to help make more than 20.000 data sets compliant with INSPIRE metadata, service, and data specifications. We almost doubled the number of customers, increased the number of user organisations by more than 180%, increased the data volume on our platform by 600%, and also doubled our annualized recurring revenue.

With this background and with the goal to enable further growth and the execution of important strategic initiatives, we decided to discuss a potential funding round with investors. As a result, we are very happy to welcome CADFEM International AG as a new investor and shareholder at Wetransform. CADFEM International AG is the international branch of CADFEM, one of the leading providers of industrial simulation solutions worldwide. CADFEM has made more than 25 investments in start-ups in various stages.

CADFEM has invested in this round together with the HTGF, Germany’s leading early-stage venture fund.”

Source

Logo (c) Wetransform

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