EnOcean secures a significant investment from Innovation Industries to drive sustainable IoT innovation
Oberhaching, Germany, 26 September 2023 – EnOcean, a leading innovator in sustainable Internet of Things (IoT) as well as maintenance-free and battery-free sensor-to-cloud solutions, today announced a substantial investment from Innovation Industries, a leading deep tech VC fund. This strategic partnership not only provides EnOcean with the necessary capital to support its continued growth but also signifies a strong alignment of strategic goals between the two entities.
The investment from Innovation Industries underscores the starting point for EnOcean's additional organic and inorganic growth strategy, providing vital resources to accelerate the development of new sustainable IoT solutions and widen its market footprint. This infusion of capital follows on the heels of EnOcean’s first acquisition in late 2022.
“This investment marks a significant milestone for our company and exemplifies the strong alignment of our objectives and our strategy going forward. We believe that this strategic partnership is a testament to the strength of our vision and the exceptional potential we hold in the market,” said Raoul Wijgergangs, CEO of EnOcean. “We are excited to embark on this journey together and are confident that this step will pave the way for our continued growth and innovation. We are truly pleased with this development and look forward to the promising future it brings to all parties involved."
Chris Sonnenberg from Innovation Industries added: "Partnering with EnOcean in their pursuit of sustainable IoT solutions is a remarkable opportunity for Innovation Industries. We are excited to expand our investment portfolio into the vibrant German market, and joining forces with a company that holds a leadership position in the sustainable IoT sector is truly inspiring. The dedication EnOcean is showing to drive innovation in products, channel, and business model while prioritizing environmental sustainability aligns seamlessly with our own values. This investment not only signifies our confidence in EnOcean's capabilities but also our commitment to fostering technology-driven positive change. We eagerly anticipate the positive impact our partnership will bring to both the company and the IoT landscape as a whole."
With this positive strategic alignment based on a continued buy-and-build strategy, EnOcean envisions further acquisitions with separate capital raises that will complement its portfolio and enhance its capabilities. The strategic partnership with Innovation Industries provides a strong foundation for these future endeavors, with both entities committed to fostering growth and innovation.
About EnOcean
EnOcean GmbH is the pioneer of energy harvesting and sensor-to-cloud solutions for sustainable Internet of Things (IoT) applications. Headquartered in Oberhaching, near Munich, the company delivers valuable data for the sustainable IoT with its resource-saving technology and connectivity solutions. For more than 20 years, EnOcean has been producing maintenance-free wireless switches and sensors, which gain their energy from the surroundings – from movement, light, or temperature changes. The combination of miniaturized energy converters, ultra-low power electronics, robust radio technology, and open multi-protocol connectivity solutions based on open standards (EnOcean, Zigbee, Bluetooth®, BACnet, Modbus, LON, and IAP) forms the foundation for smart buildings, services, and production processes in the IoT. EnOcean’s sustainable solutions are used in building automation, smart homes, LED lighting control, and industrial applications to enable optimization of the CO2-footprint of buildings. As an innovation driver, EnOcean is a strong partner for more than 500 leading product manufacturers and has already completed more than a million buildings worldwide with energy harvesting and sustainable solutions.
For more information, please visit www.enocean.com
About Innovation Industries
Innovation Industries is a Dutch deep tech venture capital firm with over €500 million in capital under management and a leading player in Western Europe. Innovation Industries invests in deep-tech with the potential to solve global challenges. Innovation Industries invests in industrial technology, med-tech, and agri & food technology. Its portfolio companies make impact through breakthroughs in energy-efficient photonic chips, climate-resilient seeds, safer & more efficient batteries, sensing technologies for better care, and more.
For more information see: www.innovationindustries.com
Press Contact:
Janina Müller
EnOcean GmbH
T +49.89.67 34 689-57
M +49.160.97 82 85 61
janina.mueller@enocean.com
www.enocean.com
PR Contact:
Elaine Hodson
Account Director
Napier Partnership Limited
elaine@napierb2b.com
T +44 (0) 1243 531123
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