Venture capital fund m8 Capital, which focuses on mobile technology companies, has led a £2.69 million (US$4.2 million) investment in German remote access software business SCHAD.
Venture capital fund m8 Capital, which focuses on mobile technology companies, has led a £2.69 million (US$4.2 million) investment in German remote access software business SCHAD.
In the London-based firm’s third investment, SCHAD aims to use the equity to further develop its product line and technology that allows engineering staff to remotely manage their plants, systems and facilities from mobile devices.
Christian Schad founded SCHAD in Hamburg, Germany in November 2007 and clients include Ford, BASF and the airports of Cologne/Bonn, Munich and Berlin.
High-Tech Gründerfonds (HTG) of Germany, which provided seed and start-up funding to the company, also participated in the current funding round. The exact financial commitments of m8 Capital and HTG have not been disclosed.
Previous investments by m8 Captial, which is a majority-owned affiliate of AGC Equity Partners, include mobile train ticketing technology business Masabi and trust-based recommendation platform provider Rummble.
