RAYDIAX secures €7.5 million for first-in-human studies and market entry of the therapy assistance CT “TACT”

• RAYDIAX secures €5 million in venture capital from existing business angels, current investor bmp Ventures with the IBG funds, and the newly investing GETEC Family Office of Dr. Karl Gerhold.
• In addition, the company receives €2.5 million in funding from the European Commission’s EIC Accelerator program.
• The capital will be used for first-in-human studies, further development of the TACT system toward series maturity, and the establishment of sales, production, and quality structures.
• With the market launch of the therapy assistance CT “TACT,” RAYDIAX aims to significantly expand the use of minimally invasive cancer therapies, thereby addressing demographic challenges in healthcare.
• Compared to surgical procedures, minimally invasive cancer therapies in many cases offer the potential to shorten procedure times, reduce complication rates, and enable faster recovery.

RAYDIAX, a spin-off of the STIMULATE research campus/Otto-von-Guericke-University Magdeburg, has secured €7.5 million for first-in-human studies and the market entry of its therapy assistance CT “TACT.” The round includes €5 million in venture capital from existing business angels, current investor bmp Ventures with the IBG funds, as well as a new investment from the GETEC Family Office of Dr. Karl Gerhold.

In addition, the company has been awarded €2.5 million from the European Commission’s EIC Accelerator program – one of the most prestigious funding instruments for deep-tech innovation in Europe.

With the newly raised capital, RAYDIAX will implement the first-in-human application of its therapy assistance CT scanner “TACT” to generate early clinical evidence. In parallel, the company will advance development toward series maturity and expand its organizational structures in sales, production, and quality management. The goal is to systematically prepare for the first commercial installations.

Dr. Thomas Hoffmann, CEO and Co-Founder of RAYDIAX: “With the successful closing of our Series A1, we have reached a decisive milestone on our path toward clinical application. Following the successful seed phase and the development of our preclinical prototype, we are now focusing on generating early clinical evidence as part of the planned first-in-human studies. At the same time, we are establishing the organizational foundations for market entry. The continued trust of our existing investors, along with the support of new strategic partners, confirms the technological maturity and market potential of our approach.”

The clinical phase now commencing marks a significant value-creation step in the development of the system and lays the foundation for regulatory approval and commercial scaling.

Establishment of a new product category in interventional oncology

With TACT, RAYDIAX is developing a dedicated therapy assistance CT scanner for minimally invasive cancer treatments. The system supports therapy planning, execution, and monitoring within an integrated platform specifically optimized for interventional applications.

Minimally invasive therapies are gaining increasing importance in light of an aging population and rising cancer incidence. In many cases, they enable a less invasive treatment compared to open surgical procedures, potentially shorten procedure and hospital stay times, and help reduce complication rates. This can create additional treatment capacity and relieve pressure on hospital structures.

With the market launch of the TACT system, RAYDIAX aims to significantly expand the range of applications for minimally invasive cancer therapies.

European innovation funding as a strategic lever

The support from the European Union through the EIC Accelerator program underscores the strategic importance of the technology at the European level. The funding program specifically supports companies with disruptive innovations and high scaling potential.

Steffen Schmidt, CFO of the GETEC Group: “As the GETEC Group, we are pleased to invest in innovative technologies at our locations. After investing in new technological approaches in the field of magnetic resonance imaging through Neoscan Solutions, we became aware of RAYDIAX in the CT sector. With its innovative technology, RAYDIAX enables focused live CT imaging that reduces radiation exposure for both patients and physicians, as well as procedure time in the operating room. In addition to increasing efficiency in medical processes, RAYDIAX has also made a larger CT gantry opening possible, which will enable new surgical methods in the future, such as the use of robotics. Altogether, this convinced us.”

Klemens Gutmann, Founder of Regiocom and Business Angel: “As an engineer, I am particularly interested in complex technical systems. The strong scientific foundation and the outstanding technical expertise of the founding team convinced me. The TACT system fills a functional gap in operating room workflows – specifically in interventional radiology.”

Dr. Jan Alberti, Managing Partner at bmp Ventures: “With the successful closing of the Series A1, RAYDIAX reaches a decisive turning point from technology development to clinical application and market entry. TACT addresses a clearly defined clinical need in interventional oncology and has the potential to establish a new device category for minimally invasive cancer therapies. We see RAYDIAX as being exceptionally well positioned to establish an international presence in this growing market segment.”

Dr. Jan Engels, Senior Investment Manager at High-Tech Gründerfonds: “RAYDIAX is developing a technology with the potential to significantly improve the care of cancer patients. We are proud to see the strong progress the team has made since our seed investment – culminating in the recently closed Series A1 and the prestigious EIC Accelerator grant. Since the early stages, Thomas and his team have consistently taken the right steps toward achieving clinical relevance, and we look forward to continuing to support them closely on their journey.”

Knowledge transfer through long-term research funding

RAYDIAX is a spin-off of the Magdeburg-based STIMULATE research campus. This internationally renowned research center for minimally invasive image-guided therapies provides an ideal environment for device and company development.

Prof. Dr. rer. nat. Georg Rose, Chairman of the Board of the STIMULATE Research Campus: “The EIC Accelerator is one of the most selective funding programs for deep-tech innovation in Europe. That RAYDIAX has successfully passed this highly competitive process and closed its Series A1 financing round is an outstanding achievement. It confirms the scientific excellence, the technological and clinical differentiation of the TACT system, as well as the entrepreneurial maturity of the team. For the STIMULATE Research Campus at Otto von Guericke University Magdeburg, this sends a strong signal: long-term medical technology research conducted here is giving rise to internationally competitive high-tech companies with clinical and economic relevance.”

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About RAYDIAX
The company was founded in 2022 and is headquartered in the Magdeburg Science Harbor. The scientific spin-off was established by researchers from Otto von Guericke University Magdeburg and the STIMULATE research campus. Its technical development focuses on both hardware and software for computed tomography systems.

Press contact
Dr. Thomas Hoffmann, CEO RAYDIAX GmbH
+49 391 67 57027
pr@raydiax.com

About bmp Ventures
bmp Ventures is one of the most experienced venture capital investors in Germany, with a track record of more than 250 investments across nearly all technology segments, the majority of which are in the early stage. In addition to direct investments, bmp has also managed venture capital funds for the KfW Banking Group and DEG – Deutsche Investitions- und Entwicklungsgesellschaft. Currently, bmp manages the IBG funds in Saxony-Anhalt and employs around 20 people at its offices in Berlin and Magdeburg.

About the IBG Funds
The IBG Funds, based in Magdeburg, are the venture capital funds of the State of Saxony-Anhalt. They provide equity financing to young, innovative technology companies with above-average growth potential that are headquartered in Saxony-Anhalt. At the end of 2023, the new venture capital fund RKF IV was launched with a total volume of €63 million. It is financed by the State of Saxony-Anhalt and the European Union and invests in startups in the seed, early-stage, and growth phases. The IBG Funds are managed by bmp Ventures AG.

Contact
Josephine Gantze
Marketing & Eventmanagement
+49 391 53281-40
jgantze@bmp.com

About HTGF – High-Tech Gründerfonds
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros.
Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family offices. For more information, please visit HTGF.de or follow us on LinkedIn.

Medienkontakt
High-Tech Gründerfonds Management GmbH
Tobias Jacob, Senior Marketing & Communications Manager
+49 228 – 82300 – 121
t.jacob@htgf.de

About the STIMULATE Research Campus
At the STIMULATE Research Campus, interdisciplinary teams from hospitals, companies, and academic institutions work hand in hand to research and develop solutions and technologies for highly innovative therapeutic and diagnostic procedures in image-guided minimally invasive medicine. The innovative medical technology is designed for specific applications to improve the treatment of cancer and vascular diseases. STIMULATE is a public-private partnership between Otto von Guericke University Magdeburg, Siemens Healthineers, and the STIMULATE Association. The research campus is funded under the German Federal Ministry of Education and Research’s “Research Campus” initiative, complemented by support from the European Regional Development Fund (EFRE) in Saxony-Anhalt.

Media contact
STIMULATE Research Campus
Dr. Jasmin Lother
+49 391-67-57276
Jasmin.Lother@ovgu.de

emproof Appoints Marc Schieder as CEO and Closes Funding Round with European Investor Consortium

Bochum-based deep-tech specialist for embedded security launches international scaling – Auriga Cyber Ventures leads the round, Dutch SecFund joins as new investor, HTGF and TIN Capital expand their commitments

emproof, a specialist in protecting embedded systems at the binary level, has appointed Marc Schieder as CEO and successfully closed a funding round with a European investor consortium. With the fresh capital, the company is accelerating its international expansion and further professionalizing its sales, compliance, and product development functions.

Experienced technology executive takes the helm

Schieder joined the company in early January 2026 and, as CEO, is responsible for transforming emproof from a research-driven start-up into a scalable enterprise SaaS organization. Previously, he served as Managing Director at DRACOON (now Kiteworks), where he was responsible for building and expanding the company.

“Companies invest years and millions in developing their firmware and algorithms – and lose that know-how within minutes through reverse engineering. We make sure that doesn’t happen: Your genius. Preserved,” says Schieder.

Binary-level security – without access to source code

emproof protects embedded systems against attacks, tampering, and reverse engineering – directly at the binary level. Its minimally invasive approach enables legacy systems to be hardened retrospectively, even without access to the original source code. The company thus addresses two key market needs: protecting intellectual property in algorithms and firmware, and meeting increasing regulatory requirements such as the Cyber Resilience Act (CRA) and NIS2.

The company operates in three strategic areas: the civilian market (automotive, industrial, and medical technology), the protection of legacy devices, and the defence & aerospace sector, where emproof collaborates in EDF-funded projects with European system integrators such as Kongsberg and Rheinmetall.

European investor consortium secures growth

The funding round is led by Auriga Cyber Ventures. Dutch SecFund joins as a new investor. Existing investors including High-Tech Gründerfonds (HTGF) and TIN Capital have significantly expanded their commitments.

The capital will be invested in building the international sales team, expanding compliance frameworks – including ISO 27001:2022 certification – and further developing the product platform.

Lead investor Auriga Cyber Ventures’ Managing Partner Geoffroy Rosset explains: “Our decision to reinvest and lead this round reflects our strong conviction in emproof’s exceptional technology and team. With Marc Schieder joining as CEO, a new chapter begins — focused on accelerating commercial growth and scaling internationally. We are proud to support emproof as it builds a global leader in embedded security.”

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About emproof
emproof is a deep-tech company based in Bochum, originating from Ruhr University Bochum (RUB), the Max Planck Institute, and the Horst Görtz Institute for IT Security (HGI). The company develops technologies to protect embedded systems at the binary level and is backed by a European investor consortium from Germany, France, and the Netherlands. For more information, visit www.emproof.com.

Press Contact
Kafka Kommunikation
Regina Urich & Cathrin Bauer
emproof@kafka-kommunikation.de

Mycoverse raises €2.4 million pre-seed funding to fight potato late blight in Europe using fungi

• Co-led by Future Food Fund and High-Tech Gründerfonds, with participation from PINC, the venture arm of Paulig.
• Funding enables two years of field trials toward commercial validation.
• Initial focus on potato late blight (an estimated €1.9bn global market), with future applications including grapevines.
  
  

Mycoverse, an agri-tech spin-out from the Technical University of Denmark (DTU), developing biological crop protection using fungi, has just raised a fresh €2.4 million in pre-seed equity funding. The round was co-led by Future Food Fund and High-Tech Gründerfonds (HTGF), with participation from PINC, the venture arm of Paulig. The funding will support the development of Mycoverse’s first solution targeting potato late blight, one of Europe’s most destructive crop diseases, as Europe is facing mounting pressure to reduce chemical pesticide use.

Using its AI-driven discovery platform, Mycoverse identifies promising fungal strains and develops bioactives providing superior crop protection. Combined with Mycoverse’s state-of-the-art fungal production technology, this approach enables scalable biological crop protection solutions designed to fit seamlessly into current farming systems.

Its lead candidates have demonstrated strong performance in greenhouse trials. Svend Petersen, CEO and co-founder of Mycoverse,commented: “This funding allows us to rapidly expand our field trials program, bringing us closer to delivering reliable biological crop protection products that farmers can adopt without changing their existing practices.”

“We are impressed by the scientific depth of the team and the speed with which they are able to identify and screen high-performing biological candidates,” said Christian Kannemeier, Senior Investment Manager at HTGF. “The rapid development of their potato blight candidates, achieved in just five months, demonstrates the strength and efficiency of their platform.”

The crop protection landscape in Europe is evolving in response to regulatory developments and growing demand for more sustainable agricultural practices. At the same time, farmers need reliable and cost-effective solutions to manage persistent disease pressures.

Potato late blight remains a significant challenge and represents an estimated $1.9 billion global market opportunity. This creates clear potential for innovative bio-based solutions that support crop resilience while reducing environmental impact.

“As chemical crop protection products are phased out and growers are increasingly dealing with resistance to products that are still on the market, the need for new solutions has never been clearer,” said Kim Wagenaar, Investment Director at Future Food Fund. “Our investment strategy is guided by the Planetary Boundaries framework, supporting innovations that allow food production to operate within Earth’s safe limits. Mycoverse combines AI-driven discovery with advanced fungal production technology to deliver biological solutions that can match field performance while reducing systemic environmental pressure.”

PINC, the venture arm of Paulig, is focused on accelerating the transition away from chemical inputs in the food system.  “As a food company reliant on sustainable agricultural value chains, we see significant potential in technologies that reduce chemical inputs without compromising reliability. Solutions that help maintain yields while supporting soil health, biodiversity and long‑term food security are essential for a resilient food system. Mycoverse’s approach combines strong science with a clear route to scale, making it a compelling addition to our portfolio,” said Rosemari Herrero, Senior Investment Manager at PINC.

Looking ahead, Mycoverse plans to expand its platform to additional crops, including grapevines, as regulatory institutions and agribusiness across Europe accelerate the shift toward biological crop protection.

About Mycoverse

Mycoverse is a Danish biosolutions company developing fungal-based biological crop protection solutions. A spin-out from the Technical University of Denmark (DTU), Mycoverse uses an AI-driven discovery platform and advanced fungal production technology to develop biocontrol solutions that can replace chemical pesticides. The company’s platform is designed to support scalable, data-driven solutions across multiple crops, with an initial focus on potato late blight and future applications including grapevine. Mycoverse has previously been supported by BioInnovation Institute with € 1.9 million, bringing Mycoverse’s total fundraising up to € 4.3 million. Mycoverse on LinkedIn.

Media inquiries:

Lizzie Blythe
lizzie.blythe@ederalab.com 
International Account Manager
+44 (0)7928 592 107

Kurian Jacob
kurian.jacob@ederalab.com 
International Account Executive
+44 (0)7763 468 972

About PINC

PINC is Paulig’s venture arm for investments in early-stage startups in and around the future of food. PINC aims to help Paulig renew itself and prosper, as well as contribute to a tastier and more sustainable planet.
www.pauliggroup.com/this-is-pinc 

About Paulig 

Paulig is an international food and beverage company, growing a new, sustainable food culture – one that is good for both people and the planet. Paulig provides all things tasty: Tex Mex, Snacks, coffees, World Foods and spices. The company’s brands are Paulig, Santa Maria, Risenta, Poco Loco, Conimex and Zanuy. Paulig also manufactures products for its private label and industry customers. In 2024, the company’s sales amounted to approximately EUR 1.2 billion. Paulig was founded in 1876 and is 100% owned by the Paulig family. The company has 2,400 passionate employees in 13 different countries working on our purpose For a life full of flavour.  
www.pauliggroup.com/ 

About High-Tech Gründerfonds

HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros. 
Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family offices.  
For more information, please visit HTGF.de or follow us on LinkedIn.

About Future Food Fund

Future Food Fund is a Netherlands-based venture capital firm investing in Seed and Series A companies across Western Europe that are revolutionizing the food and agriculture value chain. By targeting innovative startups, Future Food Fund aims to address critical sustainability challenges, including greenhouse gas emissions, biodiversity loss, and water demand, fostering a sustainable future within planetary boundaries. Future Food Fund benefits from support from the European Union under the InvestEU Fund.

Muscles Become Digital Interfaces: Noxon Closes Seed Funding Round

• Noxon, a Munich-based MedTech spin-off from three leading universities, has closed a multi-million-euro seed funding round.
• The funding will accelerate development of a non-invasive, wearable Muscle-Computer Interface that turns muscles into digital and programmable interfaces for the first time.
• The technology decodes and controls human movement – from reducing Parkinson’s tremor and restoring motor function after paralysis to performance analysis in elite sports.
• As a modular platform, Noxon targets a market of over 1.1 billion people affected by muscle-related conditions and is setting new standards in rehabilitation, neurology, and wearable MedTech.

Noxon, a MedTech company based in Munich and a spin-off from three renowned universities, has successfully closed its seed funding round. The round was led by High-Tech Gründerfonds (HTGF) and Bayern Kapital, two of the leading venture capital investors in Germany and Europe, together with Auxxo and another institutional investor. The capital will be used to advance the clinical validation and certification of Noxon’s non-invasive Muscle-Computer Interface and to prepare for the market launch of its first therapy modules.

In rehabilitation and for neuromuscular disorders, muscle diagnostics and activation are traditionally performed only sporadically and under clinical conditions. As a result, patients lack continuous data and adaptive therapy in their daily lives throughout the treatment process.

Noxon addresses this gap with a medical Muscle-Computer Interface that, for the first time, combines continuous muscle diagnostics and neuromuscular electrical stimulation (NMES) in a wearable suitable for everyday use. The key innovation lies in the closed feedback loop of real-time measurement and personalized muscle and nerve activation over the course of therapy, seamlessly integrated into existing products such as tapes, patches, and orthopedic aids.

Noxon is also collaborating with leading medical partners, including the University Hospital Würzburg and the neuroscience group N-Squared Lab, on additional pilot applications. The focus is on supporting muscle control when signal transmission between the brain and muscle is impaired, such as with solutions that reduce tremor in Parkinson’s patients.

“Neurological and musculoskeletal diseases are on the rise globally. Healthy muscle function is fundamental, yet often overlooked, and existing solutions tend to be too complex or costly,” says Maria Neugschwender, CEO of Noxon. “The support from HTGF and Bayern Kapital enables us to further validate our platform technology clinically and bring our first products to market. Our goal is to make muscle health transparent, personalized, and affordable for everyone.”

Dr. Lena-Sophie Schütter, Investment Manager at HTGF, adds: “What I find so compelling about Noxon is how effective therapy can become as simple as applying a bandage. The Muscle-Computer Interface platform gives patients the opportunity to regain mobility and independence, from preventing muscle atrophy to reducing Parkinson’s tremor. That’s a true advance for quality of life.”

Monika Steger, Managing Director of Bayern Kapital, comments: “Noxon’s technology platform, which enables human muscles to be both ‘read’ and then stimulated and activated, holds significant potential across a range of applications, particularly in therapy and medical rehabilitation. Based on this approach, conditions that are currently difficult to treat, such as Parkinson’s or paralysis, could be addressed more effectively and gently for patients. This would represent major value for both medical technology and healthcare as a whole, making Noxon a very promising investment.”

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About Noxon
Founded in 2022, Noxon is a MedTech company focused on non-invasive neuro- and muscle technologies. Its mission is to integrate evidence-based, digital care concepts into both clinical practice and everyday life.

About HTGF – High-Tech Gründerfonds
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros. Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family of-fices. For more information, please visit HTGF.de or follow us on LinkedIn.

About Bayern Kapital
Bayern Kapital is one of the most experienced and financially strong venture capital investors in the DACH region. With around €1.3 billion in assets under management, over 120 active portfolio companies, and ticket sizes of up to €50 million per company, Bayern Kapital is one of the few investors in the market that provides financing from pre-seed to global growth and scale-up rounds from a single source. As a public venture capital investor, Bayern Kapital invests in consortiums with leading national and international venture capital funds and supports tech startups and scaleups as a reliable anchor investor across multiple financing rounds.

Since 1995, Bayern Kapital has financed around 390 startups and scaleups with over €675 million of its own equity capital in areas such as deep tech, life sciences, AI, climate tech, SaaS, new space, and quantum technology. Among the numerous success stories from Bavaria are EGYM, plancq, Isar Aerospace, Tubulis, Marvel Fusion, and OroraTech.

ISPTech Raises €5.5M Seed Round to Redefine How Spacecraft Manoeuvre in Orbit

ISPTech, a German space tech company building propulsion systems that let spacecraft manoeuvre with speed and agility in orbit, has raised €5.5 million to deploy its advanced, non-toxic propulsion solutions for operational space missions.

The funding comes as demand for easy to use, cost-efficient and scalable propulsion solutions rises sharply. This shift reflects a broader industry transition towards safer, more flexible and more affordable in-orbit mobility, which ISPTech aims to take a defining role.

The round was led by Join Capital, with participation from High-Tech Gründerfonds (HTGF), Faber, First Momentum Ventures, Lightfield Equity, Final Frontier Liftoff, The German Aerospace Center (DLR), and Start-up BW Seed Fonds, among others. The Seed funding will be used to expand manufacturing capabilities, testing of critical infrastructure and to accelerate commercial deployment.

Satellite constellations are growing denser and missions are becoming more complex as spacecraft must reliably shift orbits and avoid collisions with zero tolerance for failure. Today, there is a lack of rapid, agile and high thrust maneuvering capabilities required for in our orbit.

With mobility in orbit becoming a hard operational constraint, ISPTech is building propulsion systems which are now ready for spaceflight and accelerating commercial traction with satellite manufacturers and mission operators. The technology also has applications across defense, servicing and even refueling.

“Regular, reliable and affordable access to space via reusable rockets is possible now,” said Lukas Werling, CEO and Co-Founder. “However, the true in-space ecosystem will only be unlocked by mobility solutions for satellites and spacecraft. We are building the propulsion systems that will power the space ecosystem and enable the expansion of humankind into our solar system.”

Meanwhile on Earth, regulatory pressure is accelerating the phase-out of conventional propulsion systems that rely on highly toxic propellants. Substances such as hydrazine are facing bans under proposed legislation due to its toxicity and carcinogenicity, which will increase costs and limit flexibility for existing operators.

As regulators and launch providers tighten restrictions on these chemicals, satellite manufacturers are being forced to rethink propulsion choices. This is creating demand for alternatives that can meet mission requirements without introducing new operational risk.

Enabling Mobility for Every Spacecraft

With the rapid expansion of satellites in orbit and an increasing need for dynamic, precision-controlled operations, propulsion has become a critical operational constraint rather than a background component. ISPTech’s propulsion portfolio spans HyNOx, an easy-to-use and affordable propulsion system designed for robustness, long continuous firings, and rapid availability, which is an ongoing limitation with competing systems.

“Too much space hardware looks great on paper and never proves itself where it matters, in orbit,” said Felix Lauck, CTO and co-founder of ISPTech. “Propulsion is foundational to everything that happens in space and needs to be executed without adding risk or complexity under real constraints. ISPTech is doing this today for every class of spacecraft and every mission profile.”

The company’s HIP_11 solution is a patented propulsion technology developed as a practical alternative to conventional toxic hypergolic propellants. It uses a unique, self-igniting propellant combination based on hydrogen peroxide and an ionic liquid fuel, offering a drop-in replacement for toxic hypergols without compromising reliability or maneuverability.

Furthermore, this technology allows for the seamless implementation of an electric mode, which enables efficient and fast maneuvers to be performed with the same system. This true multi-mode approach is only possible with HIP_11.

Together, the HyNOx and HIP_11 systems allow ISPTech to supply propulsion for spacecraft ranging from small CubeSats to large satellites, in-orbit service vehicles, and future mission architectures.

Built on more than a decade of propulsion research at the German Aerospace Center (DLR), ISPTech’s technologies address persistent challenges that still constrain satellite operators today.

In-Orbit Missions Set for 2026

ISPTech is currently preparing two customer missions, with a first small-sat mission using ISPTech propulsion scheduled to launch in 2026. Furthermore, CubeSat propulsion systems are undergoing acceptance testing, with deliveries planned for later this year.

ISPTech has already secured significant customer contracts for customer missions, reflecting early confidence from spacecraft manufacturers and mission operators. “Our contract with ISPTech is a testament to the short lead time, the capabilities of their propulsion systems, and the strength of the team behind them,” said Sebastian Klaus, CEO and Co-Founder of Atmos Space Cargo.

Development of HIP_11 and orbital refueling capabilities is further supported through projects backed by the European Space Agency, reinforcing the technology’s relevance for long-term European space infrastructure.

“Under the leadership of Lukas and Felix, ISPTech is set to enable truly dynamic and flexible space operations, redefining what’s possible in orbit with the breakthrough of their multimode propulsion system,” said Julia Flaig of Join Capital. “Their combination of deep technical expertise, commercial acumen, and extensive network across the space community is exceptional.”

ISPTech is building the mobility layer for the future space economy. Its ambition is to unlock propulsion capabilities that do not yet exist by giving spacecraft the freedom to move, adapt, and operate reliably over long missions. By turning propulsion from a constraint into an enabler, ISPTech is laying the groundwork for resilient satellite operations, new in-orbit services, and a fully functional in-space ecosystem.

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About ISPTech
InSpacePropulsion Technologies (ISPTech) is pioneering a new era of space mobility – delivering propulsion solutions for every spacecraft and every mission. As a spin-off from the German Aerospace Center (DLR), the company offers cost-effective, robust and quickly available in-space propulsion solutions based on more than 10 years of R&D.

ISPTech’s two technologies – HyNOx and HIP_11 – serve every spacecraft from small CubeSats to large landers and capsules. The propulsion technologies are designed to meet the growing demand for reliable and economical propulsion systems in the rapidly growing space market.

About Join Capital
JOIN Capital is an early-stage, pan-European venture capital fund with offices in Berlin, London, and Milan. Since 2017, we’ve been backing founders whose technologies strengthen Europe’s resilience and strategic autonomy through an asymmetric technological advantage. Our focus is on deep tech across enterprise, industrial, space, and defense sectors — solutions that strengthen economies, secure critical infrastructure, and create enduring strategic advantage.

JOIN Capital currently invests from its second fund generation, managing over €150 million in assets. Investors include NATO Innovation Fund (NIF), Isomer Capital, KfW Capital, and Cassa Depositi e Prestiti (CDP), leading funds-of-funds, and prominent family offices. To date, we’ve backed 36 portfolio companies and successfully realised five exits.

www.join.capital

Clee Medical secures Seed financing to advance real-time brain imaging for neurosurgery

• Clee Medical closes its Seed financing round to accelerate development of its real-time intraoperative brain imaging platform, Neuro Access.
• The round is led by High-Tech Gründerfonds (HTGF), with participation from Zürcher Kantonalbank, Kickfund, FONGIT, and Venture Kick who join existing investors the Wyss Geneva for Bio and Neuroengineering.
• The financing will support product development, clinical validation, and regulatory preparation.

Clee Medical, a Swiss neurotechnology startup developing novel ultra-high-resolution real-time imaging for brain surgery, today announced the successful closing of its Seed financing round. The round was led by High-Tech Gründerfonds (HTGF), one of Europe’s most active early-stage investors, with participation from Zürcher Kantonalbank (ZKB), Kickfund, FONGIT, and Venture Kick. The company also benefits from the continued participation from their existing partner and investor, Wyss Geneva.

The financing will enable Clee Medical to accelerate the development and clinical validation of its Neuro Access platform, a minimally invasive technology designed to help neurosurgeons visualize brain anatomy and critical structures in real time during stereotactic procedures.

“Neurosurgery still relies heavily on pre-operative imaging, while the reality in the operating room is dynamic and uncertain,” said Matthew Lapinski, Co-Founder and CEO of Clee Medical. “This Seed round allows us to bring a new level of real-time visibility into the brain, supporting safer procedures and expanding what minimally invasive neurosurgery can achieve.”

Improving surgical precision in a high-risk environment

Many neurosurgical procedures depend on navigating delicate brain structures with millimeter-level precision. Yet during surgery, anatomical shifts and limited intraoperative visibility can make targeting challenging. Clee Medical’s Neuro Access platform is designed to address this gap by providing real-time, ultra-high-resolution imaging inside the brain, supporting surgeons in navigating complex anatomy with greater confidence.

The company’s technology builds on years of translational research and is being developed with the goal of supporting a wide range of applications, including functional neurosurgery and neuro-oncology.

Funding will accelerate clinical validation and regulatory progress

With the Seed financing, Clee Medical plans to expand its development and clinical programs and advance toward key milestones required for early clinical adoption, specifically their first in human clinical study.

“Clee Medical is addressing a critical unmet need in neurosurgery: the ability to see relevant structures in real time during minimally invasive procedures,” said Tilmann Petersen, Investment Manager at HTGF. “We are glad to back such an experienced team — proven through the development and successful exits of today’s market‑standard neurosurgical devices such as the Stealth Station — and believe they have the technical depth and clinical focus to build a category‑defining platform in neurotechnology.”

A milestone for Swiss neurotechnology innovation

The Seed round marks a major step in Clee Medical’s transition from preclinical development into clinical translation. Supported by a strong European investor syndicate and the continued backing of Wyss Geneva, the company is positioned to advance Neuro Access toward real-world use in the operating room.

Clee Medical’s long-term vision is to enable a future where neurosurgeons can operate with enhanced real-time insight, improving safety, efficiency, and outcomes for patients undergoing complex brain procedures.

The company is led by co-founders Matt Lapinski and Abed Hammoud. Matt brings more than a decade of experience building and scaling Class III medical device startups in the United States. Abed has contributed to the development of market-leading neurosurgical systems, including Medtronic’s StealthStation stereotactic platform and Renishaw’s NeuroMate robotic system, bringing deep expertise in precision neurotechnology and surgical navigation.

About Clee Medical

Clee Medical SA is a Swiss medical technology company based in Geneva developing minimally invasive neurotechnology solutions. Its flagship platform, Neuro Access, combines ultra-high-resolution real-time intraoperative Optical Coherence Tomography imaging with advanced navigation capabilities to support precision neurosurgery.

The company’s mission is to forge a new era of highly targeted neuro therapies by improving surgical visibility and enabling safer access to deep brain targets.

Clee Medical was founded in October 2024 and has gained recognition within the Swiss innovation ecosystem, including being named one of the Top 100 Swiss Startups in 2025, and has received support from leading Swiss innovation programs and partners. For more information, please visit CleeMedical.com or follow us on LinkedIn

SAP invests in Avelios Medical

SAP, one of our long-standing limited partners, makes a strategic investment in our portfolio company Avelios Medical, a company that is reshaping hospital IT and clinical workflows. Together, Avelios and SAP offer an open, AI-native and sovereign platform, developed in Europe and designed for enterprise-scale hospital rollouts.

SAP’s commitment reflects conviction in a company that HTGF has backed at the earliest stage. At HTGF, we sit at the intersection of bold founders and industry-defining LPs. When the two sides connect that’s the HTGF flywheel working.

What makes Avelios particularly compelling is its timing. The IS-H transformation is reshaping the clinical IT market, and hospitals facing fundamental IT realignments need orientation. Avelios is exactly that. The company offers a platform that integrates clinical workflows, patient data, and administrative processes – built on a structured, semantically consistent data model that enables interoperability and clinical intelligence at enterprise scale.

Growth turbo for the heating transition: nuuEnergy raises €4.3 million to revolutionise the heat-pump market with craft expertise

Munich-based EnergyTech start-up nuuEnergy, which specialises in building regional heat-pump installation businesses, has secured €4.3 million in a seed funding round.

The round is led by amberra, the corporate venturing studio of the Cooperative Financial Network (Genossenschaftliche FinanzGruppe) Volksbanken Raiffeisenbanken. Additional investors include EnjoyVenture as well as existing backers HTGF, Vireo Ventures, better ventures and Bynd Venture Capital.

Despite a market dip in 2024, the heat-pump market has been growing at double-digit annual rates since 2020. Around 229,000 units were sold last year alone, an increase of 55% year-on-year. According to the German Heat Pump Association (BWP), up to 500,000 heat pumps per year are expected to be installed by 2030. For existing single-family homes in Germany alone, this represents a market volume of more than €21 billion. The climate impact is substantial: switching to heat pumps can reduce building-related CO₂ emissions by up to 95%. However, a shortage of skilled labour and inefficient processes continue to constrain growth.

This is where nuuEnergy GmbH, founded at the end of 2023, comes in—representing a new generation of the heating transition in the building sector: locally rooted, digitally enabled and human-led. nuuEnergy generates revenue through the planning and installation of heat pumps as well as long-term maintenance contracts. Additional revenue potential arises from value-added services such as water-softening systems or energy consulting. The young company quintupled its revenue from 2024 to 2025 and plans to deliver projects in the high three-digit range in 2026. With the capital raised, nuuEnergy will accelerate the establishment and expansion of regional specialist craft businesses and further digitise the entire installation process.

In building regional craft businesses (“hubs”), sought-after skilled workers are attracted through modern software tools and attractive working conditions. nuuEnergy therefore positions itself between traditional craft enterprises and digital ‘neo-installers’. Currently, nuuEnergy’s master technicians and installers operate in the greater Munich, Hamburg and Cologne areas, within a radius of approximately 1.5 hours. In some regions, they also collaborate with long-standing, vetted partner companies. Fully digitised processes and specialised system planners on site ensure individualised technical planning for each building, maximising the efficiency of the new heating system.

“Our customers want a local partner who guides them through the entire process—with the highest quality in planning, installation and service. With the Cooperative Financial Network and EnjoyVenture, we now have additional strong partners on board who support the development of our business model with both capital and expertise. Cooperative banks can also provide our customers with tailored financing solutions and give further momentum to the local heating transition,” says Tobias Klug, co-founder of nuuEnergy. “This strengthens our regional, quality-focused approach. Ultimately, our craftspeople—the heart of our company—benefit as well,” adds Julia Rafschneider, co-founder of nuuEnergy.

With our investment in nuuEnergy, the Cooperative Financial Network is actively shaping the energy-efficient modernisation of residential buildings in Germany,” says Björn Schmuck, Managing Director of amberra. “The collaboration with the start-up enables the Volksbanken Raiffeisenbanken to combine regional value creation with digital financing processes. What particularly impressed us about nuuEnergy is its close cooperation with local skilled trades businesses – and, by extension, with the customers of our banks.”

“With many LPs deeply rooted in the SME sector themselves, we strongly believe in nuuEnergy’s mission and positioning to make genuine quality scalable,” says Gerrit Gnisa, Investment Manager at EnjoyVenture. “With nuuEnergy, I can say with a clear conscience: I would buy a heat pump from them myself. The team is not focused on digital sales alone, but on delivering real, long-term innovation in skilled trades and engineering.”

HTGF has deliberately decided to make a follow-on investment in the Munich-based company: “We see significant potential. The heat-pump market has clearly regained momentum—and nuuEnergy offers a compelling solution: working hand in hand with the craft sector, a scalable model is emerging that enables millions of households to switch to heat pumps while maintaining high quality,” says Johannes Weber, Principal at HTGF.

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About nuuEnergy
Founded in 2023, nuuEnergy specialises in the planning and installation of heat pumps. With a unique business model, the company combines the advantages of digital processes with the quality and customer proximity of traditional craft businesses. Its goal is to make the transition to climate-friendly heating as simple, efficient and high-quality as possible.

For more information, please visit www.nuuenergy.com.

About amberra and the amberra fund
amberra is the corporate venturing studio of the Cooperative Financial Network Volksbanken Raiffeisenbanken. Founded in 2023, amberra is building an ecosystem of bank-adjacent and non-bank services for cooperative banks—through investments and partnerships with start-ups as well as the development of its own ventures together with partners from the cooperative network. The company focuses on the life domains of housing, health, sustainability and regional economy.

The basis for amberra’s investment activities is the amberra fund, with a target volume of €100 million. Following investments in the real-estate platform Impleco/Wohnglück, the education start-up ubimaster, and the health start-ups Lillian Care and Gardia, the fund now expands its portfolio with nuuEnergy into the sustainability domain.

For more information, please visit www.amberra.de or follow us on LinkedIn.

About EnjoyVenture
EnjoyVenture is one of Germany’s oldest venture-capital funds, providing early-stage financing to technology and growth companies for 25 years.

For more information, please visit www.enjoyventure.vc.

About HTGF – High-Tech Gründerfonds
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros. Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family of-fices.

For more information, please visit HTGF.de or follow us on LinkedIn.

About better ventures
better ventures is Europe’s leading alliance for impact entrepreneurs. The network has invested in more than 45 impact start-ups with over 80 entrepreneurial angels, focusing on scalable business models that combine impact and return.

For more information, please visit www.betterventures.io.

About Vireo Ventures
Vireo Ventures is a Berlin-based early-stage fund specialising in European start-ups in energy and electrification.

For more information, please visit www.vireo.vc.

About Bynd
Bynd is a leading Iberian Venture Capital firm with focus on investing in pre-seed and seed tech startups with 70+ investments realized across sectors and industries since 2010.

For more information, please visit www.bynd.vc.

INLEAP Photonics Secures Pre-Seed Funding to Develop Laser-Based Counter-Drone System for Defence and Critical Infrastructure

Tech company INLEAP Photonics is emerging from stealth mode following the completion of its pre-seed funding round in summer 2025.

The round was led by High-Tech Gründerfonds (HTGF), with participation from Ventis Capital and additional private investors. The capital will be used to scale INLEAP® FASTLIGHT® SHIELD, a laser-based defence system that has already been successfully tested and reduces response times to asymmetric threats to mere fractions of a second. 

Laser-based response to a real security challenge 

Drones have become an operational risk: rapidly available, low-cost, versatile, and difficult to stop in many scenarios. Operators of critical infrastructure, authorities and armed forces require capabilities that act within seconds, remain precise, can be deployed repeatedly, and operate responsibly even in challenging environments. INLEAP Photonics addresses this gap with technology originating from high-speed industrial applications and adapted for defence applications.

Proven technology as the foundation for FASTLIGHT® SHIELD 

INLEAP® FASTLIGHT® – originally developed for high-speed laser processes such as Additive Manufacturing and battery cell production – enables ultra-fast and ultra-precise laser beam steering. 

INLEAP® FASTLIGHT® SHIELD builds on this industrially validated platform: 
a laser-based defence system that neutralises drones by applying highly targeted energy to identified weak points – within extremely short time windows, deployable in mobile setups and designed for repeated operations. 

INLEAP Photonics has successfully developed and tested the first system and is now expanding its operational and performance parameters for user deployment.

Dr.-Ing. Marius Lammers, CEO of INLEAP Photonics: 
“We counter the asymmetric drone threat with technological superiority. The current security situation leaves no room for slow solutions. Our system closes the temporal gap between detection and effect. With this funding, we have consistently advanced our prototype toward operational readiness and offer German industry and public-sector actors a sovereign defence capability against airborne threats.” 

Dr.-Ing. Felix Wellmann, CTO of INLEAP Photonics: 
“Our industrial expertise enables laser beam steering speeds that current systems cannot match. The prototype has demonstrated that we can intercept agile targets within milliseconds. We are now transferring this precision into a robust, scalable system that effectively protects critical infrastructure and military facilities.” 

Dr. Koen Geurts, Senior Investment Manager at HTGF: 
“INLEAP Photonics addresses a highly relevant future market at the intersection of deep tech and defence. Laser effectors for drone and air defence are a rapidly growing technology segment dominated by only a few players. INLEAP’s precision and performance are exceptional. The ambition is clear: INLEAP wants to become a global leader in laser-based C-UAS.” 

Following the successful demonstration of its core capability, INLEAP Photonics is now working on operational scaling. This includes expanding performance classes, validating the system in real deployment scenarios, and further developing system integration into existing security architectures.

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About INLEAP Photonics 
INLEAP Photonics is a German high-tech company that develops, manufactures and sells ultra-fast and highly precise laser beam steering systems. The company builds and industrialises high-performance laser technology for two key applications: increasing efficiency and productivity in industrial manufacturing, and enabling safe and controlled drone defence to protect people and critical infrastructure. 

Based on the industrially proven INLEAP® FASTLIGHT® technology, INLEAP® FASTLIGHT® SHIELD has been developed as a laser-based solution for controlled and eye-safe drone defence. It enables deployment in sensitive and urban environments – reliably, precisely and without collateral damage. 

INLEAP Photonics was founded as a spin-off from Laser Zentrum Hannover e. V. and combines deep expertise in optics and laser systems engineering with industrial robustness. The company addresses industrial users, public-sector clients and security-relevant organisations across Europe. Further information is available at: www.inleap-photonics.com. 

About HTGF – High-Tech Gründerfonds  
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros.  

Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family offices.   
For more information, please visit HTGF.de or follow us on LinkedIn.    

About Ventis Capital
Ventis Capital is a venture capital fund backed by an entrepreneurial family, investing in early-stage, technology-driven companies. The fund focuses on founding teams that leverage innovative technologies to address tangible industrial, societal, or economic challenges. Ventis Capital serves as a long-term partner to its portfolio companies, providing both capital and strategic expertise to support the development and scaling of sustainable business models. 

Media contact 
Charlene Schmeck 
Senior Communications Consultant, PIABO Communications 
Tel.: +49 172 5672096 
Email: INLEAP-Photonics@piabo.net 

HTGF management takes responsibility for DTCF

As part of the integration of DTCF announced in November, Romy Schnelle, Sebastian Borek and Dr. Achim Plum took over the management of Deep Tech and Climate Fonds Management GmbH on 1 February. The DTCF and HTGF teams are working closely together to build a powerful integrated public-private VC platform. Dr. Elisabeth Schrey and Tobias Faupel, the previous management team, are involved in this process in their new roles as venture partners.

Twogee Biotech Secures €2.2 Million Seed Funding to Industrialize Circular Biomass Value Creation

• Twogee Biotech secures more than €2 million in seed funding to commercialize its enzyme platform for the industrial utilization of biomass residual streams, transforming the chemical industry through circular economy principles and sustainable building blocks.
• Founded in 2024 in Munich, Twogee develops customized enzyme solutions and corresponding production strains from lab scale to industrial manufacturing. First MVPs are available, pilot projects with industry partners are underway, and in-house laboratories and bioreactors have been established.
• Benefit for industry partners: Fossil- and food-based raw materials can be replaced by locally produced, low-CO₂ alternatives such as second-generation (2G) sugars, enabling new circular value chains from previously underutilized biomass side streams.

Twogee Biotech, a Munich-based biotechnology startup specializing in tailor-made enzyme solutions for the industrial conversion of biomass into sustainable raw materials, has successfully closed a seed financing round of €2.16 million. Investors include High-Tech Gründerfonds (HTGF) and Bayern Kapital, as well as strategic partners such as AgriFoodTech Venture Alliance and Heinz Entsorgung.

Twogee Biotech enables industrial partners to economically convert previously low-value biomass residues and by-products into sustainable second-generation (2G) raw materials (residue-based, in contrast to first-generation (1G), food-based), with a particular focus on sugars for bio- and synthetic biology applications. This is powered by a predictive development platform that integrates enzyme screening, strain engineering, and fermentation with an industrial mindset from the outset, shortening development cycles and reducing scale-up risks.

Founded in 2024 by Frank Wallrapp and Helge Jochens, each bringing more than ten years of shared industry experience in biotechnology, and supported by the Bio^M MAxL Incubator, the company is using the newly raised capital to accelerate the development and commercialization of its technology. Initial MVPs and paid pilot projects with industrial partners have already been completed. A licensing model that also enables local enzyme production at the customer site reduces costs and CO₂ emissions while supporting the creation of decentralized, circular value chains.

“Many industrial residual streams contain significant untapped commercial value,” says Frank Wallrapp, CEO of Twogee Biotech. “We help our partners unlock this potential with minimal integration effort and a clear economic value proposition.”

Helge Jochens, CTO and co-founder, adds: “A substantial portion of the funding will be invested in expanding our new laboratories at the IZB with predictive bioreactor systems, as well as strengthening our team with experienced process and scale-up experts. This ensures that our developments can be reliably and economically transferred to our customers’ production scale.”

With the successful completion of its seed financing, Twogee Biotech positions itself as a technology development partner for industrial companies seeking to transform existing facilities and material streams into circular, low-CO₂ value creation systems.

Tilmann Petersen, Investment Manager at HTGF, comments: “At HTGF, we are very proud to invest in Twogee Biotech. With its customer specific enzyme technology, Twogee is building a true enabler of the circular economy that allows many downstream industries to finally unlock long awaited growth potential. Second generation raw materials have the potential to become a real game changer when sustainability and higher profitability go hand in hand, as they do here.”

Monika Steger, Managing Director of Bayern Kapital, adds: “Twogee Biotech combines industrial biotechnology with a clear contribution to the circular economy by economically converting biological residues and by-products into high-value second-generation raw materials using customized enzyme solutions. This approach strengthens our life sciences and biotech portfolio in the field of white biotechnology by integrating resource efficiency, sustainability, and industrial scalability in a compelling way. We see significant potential and look forward to supporting the company on its growth journey.”

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About Twogee Biotech
Twogee Biotech is a biotechnology company founded in 2024 and headquartered in Martinsried, Munich. Based on their innovative platform, the company develops customized enzyme and strain solutions for the industrial conversion of biogenic side and residual streams into sustainable second-generation raw materials. Twogee enables efficient utilization of biomass residues and supports the chemical industry in transitioning toward circular, low-CO₂ value creation—economically, scalably, and customer-focused.

For more information, visit twogee-biotech.com or follow Twogee Biotech on LinkedIn.

Media contact
Twogee Biotech GmbH
Frank Wallrapp, CEO
T.: +49 (0) 176 99389763
frank.wallrapp@twogee-biotech.com

About Bayern Kapital
Bayern Kapital is one of the most experienced and financially strong venture capital investors in the DACH region. With around €1.3 billion in assets under management, over 120 active portfolio companies, and ticket sizes of up to €50 million per company, Bayern Kapital is one of the few investors in the market that provides financing from pre-seed to global growth and scale-up rounds from a single source. As a public venture capital investor, Bayern Kapital invests in consortiums with leading national and international venture capital funds and supports tech startups and scaleups as a reliable anchor investor across multiple financing rounds.

Since 1995, Bayern Kapital has financed around 390 startups and scaleups with over €675 million of its own equity capital in areas such as deep tech, life sciences, AI, climate tech, SaaS, new space, and quantum technology. Among the numerous success stories from Bavaria are EGYM, plancq, Isar Aerospace, Tubulis, Marvel Fusion, and OroraTech.

About HTGF – High-Tech Gründerfonds
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros.

Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs  and Energy, KfW Capital as well as 45 companies and family offices. For more information, please visit HTGF.de or follow us on LinkedIn.

Media contact
High-Tech Gründerfonds Management GmbH
Tobias Jacob, Senior Marketing & Communications Manager
T.: +49 228 – 82300 – 121
t.jacob@htgf.de

About AgriFoodTech Venture Alliance
The AgriFoodTech Venture Alliance is an impact-driven strategic investment vehicle founded by BayWa AG, the Bindewald + Gutting Milling Group, and the MULTIVAC Group. We invest in innovative AgriFood startups across the entire food and agriculture value chain to advance sustainable “good food” solutions for a livable future. Through strategic partnerships and guided by United Nations sustainability goals, we aim to drive positive change in the food industry while delivering measurable returns for our stakeholders.

About HEINZ Gruppe
The HEINZ Group is a family-run company based in Moosburg and has been active in the fields of waste disposal, recycling, transport, and logistics for over 90 years. As a service provider with strong regional roots in the circular economy, HEINZ combines many years of experience with a clear vision of the future. In addition to continuous investment in sustainable infrastructure and modern recycling solutions, the HEINZ Group is specifically involved in start-ups in order to gain early access to innovative technologies and new approaches in the field of recycling and resource efficiency. The aim is to actively contribute to the further development of sustainable solutions and to help shape the transformation of the circular economy in the long term.

Co-reactive secures €6.5 million in seed funding for CO₂-negative construction materials technology

• The climate-tech start-up Co-reactive closes a seed financing round totaling €6.5 million.
• The company’s technology continuously mineralizes CO₂ and converts emissions into high-performance, CO₂-negative supplementary cementitious materials (SCMs).
• The financing round is led by High-Tech Gründerfonds (HTGF). Further investors: NRW.Bank, HBG Ventures, AFI Ventures (the early-stage impact arm of Ventech), Evercurious VC as well as climate tech business angels. In addition, the company receives seven-figure funding from the German Federal Ministry for Economic Affairs and Energy (BMWE).
• Co-reactive is now scaling from prototype to a continuous 1,000-ton demonstration plant and preparing industrial pilot plants at the tens-of-thousands-of-tons scale.

Founded in 2024, climate-tech start-up Co-reactive from North Rhine-Westphalia (NRW) has completed a seed financing round totaling €6.5 million. The capital will be used to scale the company’s CO₂ mineralization technology – which makes use of CO₂ and binds it permanently in high-performance construction materials – from prototype to industrial application.

The round is led by HTGF. In addition, NRW.Bank, HBG Ventures, AFI Ventures (the early-stage impact arm of Ventech), Evercurious VC and a network of experienced climate tech business angels are investing. The company also receives further support through grants such as the Federal Funding for Industry and Climate (BIK) from the German Federal Ministry for Economic Affairs and Energy (BMWE).

Co-reactive has developed a continuous process that converts CO₂ together with natural minerals such as olivine or metallurgical slags (EAF & BOF) into performance-enhancing, CO₂-negative supplementary cementitious materials (SCMs). These materials enable a significant reduction of the clinker content in cement and construction materials – and thus a substantial reduction of their CO₂ footprint. At the same time, they increase compressive strength and durability. The solution is designed as a drop-in technology and can be integrated into existing production processes.

In doing so, Co-reactive addresses two key challenges of the industry:

• High emissions: Cement production accounts for around eight percent of global CO₂ emissions. With rising CO₂ pricing, production costs risk doubling over the next decade.
• Raw material scarcity: Conventional cement substitutes such as fly ash and ground granulated blast furnace slag are becoming increasingly scarce due to the coal phase-out and the transformation of the steel industry.

With the seed financing, Co-reactive will scale its current lab and pilot operations in Q2 2026 to a continuous demonstration plant with a capacity of around 1,000 tons per year. In parallel, the company is preparing, together with industrial partners, first-of-a-kind plants at the tens-of-thousands-of-tons scale that from 2027 onwards are intended to mineralize biogenic or process-related CO₂ streams directly on site at cement and steel plants.

Quotes on the financing

Dr.-Ing. Andreas Bremen, Co-Founder and CEO of Co-reactive: “Funding and scientific research form the foundation – but real transformation only happens through entrepreneurial action. With the right co-founders and an interdisciplinary team, we are taking CO₂ mineralization from the lab into continuous industrial operation. The support of our financing partners, with the HTGF as lead investor, gives us the strength to deliver proof of performance with a 1,000-ton demonstration plant and to prepare large-scale deployment together with industry. We are building a solution that is urgently needed today so that it can create impact at industrial scale tomorrow.”

Anna Stetter, Investment Manager, HTGF: “The construction industry is at a turning point: Conventional supplementary cementitious materials such as ground granulated blast furnace slag and fly ash are becoming scarce and expensive as decarbonization progresses – prices for fly ash have in some cases quadrupled over the past two years. Co-reactive offers a scalable alternative that is not only CO₂-negative, but can also be integrated into existing processes as a drop-in solution. With strong unit economics and an experienced team of mineralization and plant engineering experts, Co-reactive has the potential to transform the industry in a lasting way.”

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About Co-reactive
Co-reactive GmbH is a climate-tech start-up founded in 2024, supported by the EXIST program of BMWE and headquartered in Düsseldorf. The company is developing a continuous CO₂ mineralization technology that uses captured CO₂ and magnesium-/calcium-containing silicate minerals such as olivine or metallurgical slags to produce novel, highly reactive supplementary cementitious materials (CO-SCMs). The CO-SCMs have a negative CO₂ footprint and enable a significant reduction of the clinker content in cement and construction materials without compromising performance. Co-reactive works along the entire value chain with CO₂ and raw material suppliers, cement and concrete producers as well as certification bodies to pave the way from pilot plants to large-scale industrial plants in the 100- to 300-kilotons range. The team combines expertise in CO₂ mineralization, plant engineering, commercialization, and brings experience in scaling sustainable technologies.

Contact
Co-reactive GmbH
Willi Peter, Co-founder & Chief Commercial Officer
willipeter@co-reactive.com

About HTGF – High-Tech Gründerfonds
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing start-ups in the fields of deep tech, industrial tech, climate tech, digital tech, life sciences and chemistry. With its experienced investment team, HTGF supports startups in all stages of their development on the way to becoming international market leaders. HTGF invests in the pre-seed and seed phase and can participate significantly in further financing rounds. Since its founding in 2005, it has financed around 800 start-ups and realized 200 successful exits. HTGF has over €2 billion in fund volume.
The fund investors in this public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family offices.
Further information is available at HTGF.de or on LinkedIn.

Media contact
High-Tech Gründerfonds Management GmbH            
Tobias Jacob, Senior Marketing & Communications Manager      
T: +49 228 – 82300 – 121
t.jacob@htgf.de

Altavo concludes Series A2 for the development of its Artificial Voice

Altavo, a medtech startup in AI-based voice rehabilitation, successfully closed a Series A2 financing round on January 12, 2026. A European consortium led by Novalis Biotech and Beteiligungsmanagement Thüringen is investing € 3m into the development of Altavo’s innovative Artificial Voice.

Altavo’s Artificial Voice is designed to help voiceless people, for example after laryngectomy or during mechanical ventilation, regain their own, natural sounding voice. The “silent speech” technology developed for this purpose in collaboration with researchers at Dresden University of Technology, is based on non-invasive radar sensing and the latest AI algorithms. 

In addition to the lead investors Novalis Biotech (Ghent, Belgium) and Beteiligungsmanagement Thüringen, participants in the current round include TGFS Technologiegründerfonds Sachsen, High-Tech Gründerfonds (HTGF), TUDAG TU Dresden AG, Ostwerk GmbH and individual private investors.

The current Series A2 will finance company development, clinical work, as well as development of the commercial product. Altavo’s technology has the potential to improve the quality of life of voiceless people and opens fundamentally new possibilities in silent human-machine interaction.

“We are grateful for the strong backing of our existing European group of investors, and are glad to welcome new investors to the round. With the A2 round we are excellently positioned for the next steps on the path to an Artificial Voice for voiceless people.”  
Rudolf von Bünau, CEO and co-founder, Altavo 

“Altavo’s development and clinical progress and the experienced leadership convinced us to join the A2 round – co-leading the round together with bm-t, the Thuringia state investment agency.” 
Jaroslav Belotserkovsky, Investment Manager, Novalis Biotech  

“Altavo remains a prime example for the translation of academic research in a startup company and for successful public funding in the central German region, across state boundaries. We are glad to be able to accompany the Altavo team in realizing their ambitious vision.” 
Michael Thiele, Investment Manager, bm | t beteiligungsmanagement thüringen gmbh and Sören Schuster, CEO, TGFS Technologiegründerfonds Sachsen 

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About Altavo 
Altavo GmbH is a Dresden based medical device startup founded in February 2021. Based on non-invasive radar sensing and artificial intelligence, Altavo is developing prosthetics to improve the rehabilitation of aphonic and severely voice impaired patients. At its Dresden and Jena locations, Altavo currently employs a team of 16 with many years of experience in the fields of AI / data science, speech technology, radio frequency engineering, medical devices, and speech therapy.  

Altavo is partnering with the Chair of Speech Technology and Cognitive Systems and the Chair of Radio Frequency Engineering at Dresden University of Technology. The collaboration is supported by a grant from the state of Saxony and co-financed by the European Union in the project “B3 / MUSIK” within the SEMECO Cluster for Future. 

Media Contact: 
Rudolf von Bünau
rudolf.vonbuenau@altavo.eu 

About Novalis Biotech 
Novalis Biotech (Ghent, Belgium) is an early-stage venture capital investor in technologies that revolutionize healthcare. The company’s core competence lies in digitalization in the life sciences with a focus on bioinformatics, genomics and diagnostics. Novalis strongly believes in applying innovative enabling technology to advance the prevention, diagnosis, or treatment of a disease.  

For more information, please visit  www.noval.is 

About bm | t beteiligungsmanagement thüringen  
bm | t, based in Erfurt, is a subsidiary of Thüringer Aufbaubank and the leading address for investments in Thuringia. bm | t currently manages twelve funds with a total volume of around EUR 445 million, which are to be invested in innovative companies in almost all sectors and in all phases of corporate development – both in the start-up and growth phases or in company succession situations. 

Further information can be found at www.bm-t.com 

Media Contact:  
Michael Thiele
michael.thiele@bm-t.com 

About TGFS Technologiegründerfonds Sachsen 
TGFS is an equity investor for knowledge-based, technology-oriented start-ups in the federal state of Saxony. It is the leading start-up investor in Saxony and provides teams in the seed and start-up phases with venture capital and management support. Moreover, an investment by TGFS opens up access to further international investors from the fund’s network. 

The fund was first launched in 2008 by Saxony’s Government (including ERDF funding) and Saxon financial institutions and has since supported over 100 start-ups in what is now the third fund generation.  

Media Contact:  
Sören Schuster
ph. +49 172 2001097
soeren.schuster@cfh.de 

About HTGF – High-Tech Gründerfonds 
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros. 

Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family offices.

Media Contact:  
Tobias Jacob, Senior Marketing & Communications Manager
ph. +49 228 82300 121
t.jacob@htgf.de 

About Ostwerk 
Ostwerk GmbH is a Berlin-based investment company founded in 2024 and a wholly owned subsidiary of Sparda-Bank Berlin eG. As a partnership-driven investor, Ostwerk supports early-stage companies that are committed to creating sustainable regional impact in Eastern Germany. The firm combines financial investment with strategic support and a strong values and network-based approach to foster long-term economic and social development With operations across all six eastern German states, Ostwerk targets purpose-driven startups seeking capital to grow and to scale. 

Media Contact:  
Johannes Ulrich and Franz Neumann (Managing Directors)
hallo@ost-werk.de
www.ost-werk.de 

Cancilico Raises €2.5M to Scale AI-Powered Bone Marrow Diagnostics  

Cancilico, an AI diagnostics startup specializing in blood cancer, announced today the successful closing of its €2.5 million Seed financing round. The investment was led by a strong consortium including High-Tech Gründerfonds (HTGF), TGFS – Technologiegründerfonds Sachsen, GEDAD GmbH (investment vehicle of Ehninger family), and ROI Verwaltungsgesellschaft (Roland Oetker).

The funding will accelerate Cancilico’s mission to establish its AI-based diagnostic software MyeloAID as a routine tool to improve the standard of care for blood cancer patients worldwide and to accelerate digital biomarker development in hematological malignancies.

MyeloAID aims to become the game-changer in the diagnosis of hematological malignancies by using advanced artificial intelligence to analyze bone marrow samples with unprecedented speed and accuracy. The underlying data model of Cancilico’s AI-diagnosis is based on a large validated data set of various malignancies as well as data from healthy individuals. Partnerships with hematopathology centers further enhance the data model and cooperation with pharma partners show initial results for accelerated development of biomarkers and therapeutic options for hematological malignancies.

Especially in times when we face a shortage of trained hematologists, such supporting technologies are urgently needed to ensure clinical availability and precision medicine. A unique feature of MyeloAID is the design as a platform-independent solution. The technology can be implemented on any standard imaging microscope or scanner, allowing laboratories to upgrade their current diagnostic capabilities without replacing existing hardware infrastructure. Further, the AI-diagnosis is already available and used as a RUO variant via Smart In Media’s PathoZoom® Scan & LiveView Suite.

“We are convinced to invest in a winning team and a superior technology that has already gained commercial traction with its ‘Research Use Only’ data models,” said Dr. Jörg Traub, Principal at HTGF. “The team combines entrepreneurial spirit with deep technical and clinical knowledge. Cancilico has established a convincing AI model using training data that includes not only diseased patient samples but also healthy datasets, allowing for better and faster classification.”

The experienced and multidisciplinary team including CEO Markus Badstübner, CMO Dr. Moritz Middeke, Tim Schmittmann, Sebastian Riechert, Dr. Jan Eckardt, Dr. Karsten Wendt, and Angel Investor Prof. Gerhard Ehninger, operates at the intersection of data science and clinical hematology.

“We are facing a global shortage of hematologists, yet the complexity of diagnostic cases is rising,” said Markus Badstübner, CEO and Co-Founder of Cancilico. “Our goal is to democratize access to expert-level diagnostics. This investment allows us to navigate the FDA and CE-IVDR regulatory landscapes and bring a tool to market that integrates seamlessly with existing lab hardware to improve patient outcomes without heavy capital expenditure.”

“Bone marrow analysis is one of the most complex and time-intensive disciplines in hematology,” added Dr. Moritz Middeke, CMO and Co-Founder. “By training our AI on a diverse range of healthy and pathological datasets, we developed a tool that acts as a highly skilled ‘digital colleague’. This funding is a crucial step toward bringing this technology to the labs, where it will help to make faster, more accurate diagnoses for blood cancer patients.”

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About Cancilico 
Cancilico is a Dresden-based health-tech startup founded in 2023 as a spin-off of the EKFZ for Digital Health at TUD Dresden University of Technology and University Hospital Dresden. The company develops AI-driven diagnostic solutions for hematology, aimed at automating and improving the accuracy of blood and bone marrow analysis. Its mission is to bring cutting-edge AI technology into routine hematology labs, improving the state of care for blood cancer patients around the world and the development of digital biomarkers in hematology. The founding team includes Markus Badstübner, Dr. Moritz Middeke, Tim Schmittmann, Sebastian Riechert, Dr. Jan Eckardt, Dr. Karsten Wendt, and Angel Investor Prof. Gerhard Ehninger.

Cancilico is deeply embedded in the Saxon life science ecosystem, engaging with the regional biotech network Biosaxony, and strongly contributing to the SaxoCell and SEMECO Clusters4Future initiatives. Within these clusters, startups such as Cancilico can further develop their strong founding dynamics and combine them with rapid translational pathways.

About High-Tech Gründerfonds (HTGF) 
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros.
Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family offices.
For more information, please visit HTGF.de or follow us on LinkedIn.

About TGFS – Technologiegründerfonds Sachsen 
TGFS Technologiegründerfonds Sachsen provides technology-oriented founders with equity capital for the seed and start-up phases. The fund was first launched in 2008 by the Free State of Saxony (including ERDF funds) and Saxon financial institutions and has since supported over 100 start-ups. In 2023, TGFS launched its third fund generation. TGFS focuses on young, innovative, technology-oriented companies in the ICT, semiconductor and microsystems technology, medical technology, life sciences, environmental and energy technology, and new media sectors that are based or have operations in Saxony.

For more information, please visit TGFS.de or follow us on LinkedIn.

About ROI Verwaltungsgesellschaft 
Holding Gesellschaft of Roland Oetker.  

About GEDAD GmbH 
The investment vehicle of Ehninger family. 

Media contact 
Cancilico GmbH 
Markus Badstübner, CEO & Dr. Moritz Middeke, CMO 
contact@cancilico.com 

High-Tech Gründerfonds Management GmbH 
Tobias Jacob, Senior Marketing & Communications Manager 
T.: +49 228 – 82300 – 121 
t.jacob@htgf.de 

 
CoolSem Technologies Secures Pre-Seed Funding to Advance Wafer-Level Thermal Innovation

CoolSem Technologies, a pioneer in semiconductor thermal management, today announced the closing of its pre-seed financing round.

The investment round is led by High-Tech Gründerfonds (HTGF), with participation from KBC Focus Fund NV, Brabant Development Agency (BOM), and TTT Green Tech B.V. (SHIFT Invest). Backed by this strong European syndicate of four renowned international investors, the pre-seed round ensures a solid runway.  

The investment will be used to advance CoolSem Technologies’ wafer-level thermal management technology (WaLTIS®) from concept to engineering samples, validated by top-tier customers in RF, power and photonics, supporting qualification activities and real-world performance evidence. 

Chips are now a critical resource, with rising pressure on raw materials and significant inefficiencies in heat management. CoolSem helps to make the semiconductor industry greener by reducing energy waste, extending hardware life, and enabling the reuse of rare materials, three critical levers for a low-carbon, circular economy. 

“Heat is becoming a fundamental limiting factor in semiconductor performance,” said André van Geelen, CEO of CoolSem Technologies. “In RF, photonics, and power, conventional materials and packaging are approaching their physical limits. The pre-seed round enables us to demonstrate our wafer-level technology with early customers and advance towards industry adoption. With HTGF leading the investment and strong partners alongside, we can focus on the next phase of execution.” 

Olaf Joeressen, Senior Investment Manager at HTGF said: “When I first got in touch with CoolSem Technologies I was immediately intrigued by the simplicity and elegance of the approach driven by an outstanding team. I believe the technology has the potential to become an indispensable ingredient to the future thermal design of chips, an area that is more critical to the performance of semiconductor devices than ever before!” 

Rudi Severijns, Investment Director, KBC Focus Fund said: “We were attracted to CoolSem Technologies’ proposition because of its pragmatic and highly compatible approach. The technology integrates seamlessly into existing semiconductor and photonics value chains, enabling rapid experimentation and adoption with minor redesigns at lower cost. Their solution is turning thermal management from a limiting constraint into a scalable design advantage.” 

Ivana Sersic, Senior Investment Manager at the Brabant Development Agency (BOM) said: “We are proud to participate in this pre-seed round backed by an international consortium to enable CoolSem Technologies to validate their unique technology further. CoolSem Technologies is offering a solution to tackle thermal bottlenecks in the semiconductor industry that has the potential to unlock new and more powerful electronic chips having higher system performance, better energy efficiency and extended device lifespans. The team builds on the profound knowledge and expertise in semiconductor chip development concentrated between the regions of Eindhoven, Leuven and Aachen.” 

Julie van den Brink, Investment Associate at SHIFT Invest said: “With its strong impact potential and highly capable and driven team, CoolSem Technologies is well positioned for the road ahead, and we are excited to support them on this journey.” 

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About CoolSem Technologies 
Based in Eindhoven (NL) and founded in 2025, CoolSem Technologies develops wafer-level thermal management technology to reduce thermal resistance and mechanical stress in advanced semiconductor and photonic devices. With its WaLTIS multilayer stack, CoolSem Technologies replaces conventional substrates with an engineered stack designed to enhance heat flow, mechanical stability, and reliability, enabling higher performance and longer lifetime for next-generation devices.
coolsemtechnologies.com 

About HTGF – High-Tech Gründerfonds  
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros.  

Fund investors  in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as  45 companies  and family offices.   

About KBC Focus Fund NV
The KBC Focus Fund is a €50 million venture capital fund dedicated to investing in advanced technology (“Deeptech”) companies with international ambitions. Our primary goal is to accelerate emerging sectors such as nanotechnology, microelectronics, and the Industrial Internet-of-Things (IIoT). We do this not only by providing capital, but also by leveraging our extensive experience in venture investing and our strong industry network. The fund primarily targets opportunities in Belgium and neighboring countries, home to renowned centers of expertise in these technological domains.  The KBC Focus Fund leverages on the network and expertise of KBC Group and is managed by KBC Securities. KBC Securities has a solid knowledge of the tech ecosystem in Belgium and beyond with experienced teams in the M&A, Corporate Finance and Research & Sales departments. As part of KBC Group, the KBC Focus Fund aims to be long-term partners for entrepreneurs. 
kbcsecurities.com  

 
About Brabant Development Agency
Entrepreneurship is the driver of innovation – from sustainable food sources to a healthy future, climate-neutral energy, and developing promising key technologies. The Brabant Development Agency (BOM) ensures that startups playing a role in these fields receive the right support and funding to get off to a flying start and grow into scaleups, and that companies that aspire to go global can actually do so. Every year BOM works with dozens of companies to create this impact. BOM is an executive body of the Province of Brabant and the Ministry of Economic Affairs. 
bom.nl  

About TTT Green Tech B.V., managed by SHIFT Invest
SHIFT Invest is a leading Dutch impact venture capital fund founded in 2009 and currently investing from its fourth fund. It backs early- and growth-stage companies in food & agriculture, green industries, the energy transition and sustainable mobility & logistics in North-West Europe. Investments (seed, Series A, and growth) focus on bringing meaningful sustainability innovations to market and supporting their commercial success, delivering both environmental and financial returns. Beyond capital, SHIFT supports entrepreneurs with deep expertise, access to an extensive partner-network and strategic guidance. 

SHIFT invests in CoolSem Technologies from the Thematic Technology Transfer GreenTech fund (TTT), a collaboration with TNO, RVO and the Dutch universities of Wageningen (WUR), Eindhoven (TU/e), Twente (UT), Delft (TUD), Groningen (RUG), Nijmegen (RU), and Utrecht (UU). The TTT fund focusses on supporting early-stage companies that bring to market disruptive technologies with a strong impact potential. The aim of the fund is to accelerate the transition to a more sustainable economy. 
shiftinvest.com