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High-Tech Gründerfonds, Fraunhofer join Conweaver financing

30 Oct 2012

German venture capital firms High-Tech Gründerfonds and Fraunhofer Ventures have taken part in the second financing round for easy access data business ConWeaver.

The funding round, believed to be just under €1m, was also supported by entrepreneur Martin Shefter through his holding company Shefter Capital.

Shefter will advise the company on operational and strategic issues as well as business development.

ConWeaver attempts to link company data across systems, languages and processes to give users quick and easy access to relevant, up-to-date information.

Shefter said, “With automatic data networking, ConWeaver offers a very high-performance product that allows an overview of very complex business processes with only a few clicks, and that is capable of adjusting itself dynamically to the constantly changing company database with minimal administrative effort.

“This represents an immense benefit for large business organisations and globally active corporate groups with heterogeneous data landscapes.”

Last month German software giant SAP became the fourteenth industrial investor to commit to High-Tech Gründerfonds’ second fund, which held a €288.5m first close 12 months ago.

The firm focuses on technology-based start-up companies by providing seed financing of up to €500,000 as risk capital and up to €1.5m in subsequent rounds.

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