Galactic Start-up Receives Financial Booster for International All-in-One Solution for Amazon Sales
February 6, 2020
International at the push of a button: The German start-up SPACEGOATS from Stuttgart provides automated software to make the life of amazon-sellers a lot easier – and earns early-stage financing by German investment fund High-Tech Gründerfonds (HTGF). E-Commerce is complex and international even worse? Not anymore – SPACEGOATS to the rescue: The start-up SPACEGOATS allows small and medium-sized companies to grow quickly and easily on international markets. The investment fund HTGF recognizes the potential and awarded the start-up with seed financing for its first birthday.
As sellers, we were about to expand our business internationally. The monthly fixed costs alone for tax administration abroad quickly reach four figures, which do not take into account own working hours and liability. Looking for an affordable solution to this problem, we couldn’t find one. That’s why we came up with SPACEGOATS.
Anton Hermann, Co-Founder and CMO
And this is how it works: The clients’ – brand owners’ and producers’ – products are sold from one Amazon account by using a pan-European fulfilment network. At the end of each month, the clients receive a payment of all income minus all expenses needed. The SPACEGOATS software automatically calculates everything and offers real-time insights in and overviews of sales, stock, and the current account balance. This allows the clients to drop loads of work and effort – they simply receive a note whenever they need to send more goods to Amazon.
The fully automated and bundled process allows SPACEGOAT clients to sell their products internationally cheaper than it would be possible with running their own Amazon account.
As the Investment Manager in charge at the fund, Martin Möllmann recognizes the startup’s galactic potential:
SPACEGOATS is addressing definite problems that sellers and producers have to deal with nowadays when it comes to international processes on Amazon. Growth on the Amazon marketplace continues to be unabated and will offer many scopes and possibilities in the future.
Martin Möllmann, HTGF
Our goal is to really simplify worldwide online sales for brands. The HTGF investment allows us to implement our start in the United States, and also to develop more software features to make our clients’ Amazon sales even easier.
Manuel Eynollahiargaghy, Co-founder and CEO
Started a year ago and long since in the intergalactic fast lane: The SPACEGOATS GmbH was founded in January, 2019, and its software-as-a-service-solution has been helping its clients sell their goods on amazon.
About the High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital business models, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.4 billion into the HTGF portfolio via more than 1,500 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies.
Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.