High-Tech Gründerfonds invests in Inventorum, a multi-channel-solution for local retailers
October 17, 2013
Founded in 2012, the Berlin-based startup Inventorum has successfully closed its second round of seed financing with backing from HTGF, Klingel New Media, Vogel Ventures and MCB Salt. Inventorum offers a complete digital point-of-sale solution for local retailers featuring smart tools to simultaneously manage stores more efficiently on- and offline.
Approximately 86% of local retail businesses generate sales of less than € 2m annually. These small, usually owner-managed retailers are an important pillar of the German economy and despite their small size, generate a combined sales volume of € 56bn per year.
This group is facing tough competition from optimised large retailers as well as from the internet.
The internet provides tremendous opportunities for retailers with more than half of in-store purchases first being researched online. Until now it has been too expensive and too complex for local retailers to keep a balanced online/offline presence given limited resources and online know-how. This is where Inventorum steps in.
Inventorum combines cash management, inventory management, customer support and e-commerce capability in one system.
“We want to mobilise local retailers to use modern technologies and the internet to grow”, Managing Director and Founder Christoph Brem said. “The competitive landscape and customer expectations are changing, and with the right tools local retailers can bridge the gap between their online and offline presence. We are very happy to have gained the backing of HTGF, K-New Media and Vogel Ventures and to play a part in shaping the future of retail”.
The Software as a Service (Saas) concept integrates modern technology including tablets, smartphones and cloud computing in an attractive packet. Using Inventorum’s software retailers can quickly and efficiently manage online and offline inventory with minimal effort. Retailers can also simultaneously sell in-store and offline in cash or electronically and track their progress using statistics and analysis. Given the intuitive and attractive user interface the software can be easily implemented with minimum effort.
“With our investment in Inventorum we have strengthened our portfolio with a potential game changer in Germany’s third largest sector”, Stefan Wendel, Portfolio Analyst at High-Tech Gründerfonds said.
“We are impressed by Inventorum’s clear focus as well as the numerous co-operations with notable partners that have been achieved even before an official launch”, Wendel added.
“The retail industry has to position itself alongside e-commerce and not against it”, CEO Ludger Schöllgen and member of the board Dr. Jörg Blumentritt, both responsible for the VC business of Klingel said. “Inventorum makes it easy and affordable for the little retailer to position itself accordingly.”
Inventorum’s software enables small retailers to manage their offline and online businesses by supporting point of sale and inventory management. In 2012, the company was established by Christoph Brem, together with experts from successful retail and online businesses. CEO Christoph combines 16 years of international IT and retail experience having held posts in Seattle, Silicon Valley and New York.
About Klingel Gruppe
The Klingel Gruppe is one of the largest mail order specialists in Germany. Founded in 1920, the Pforzheim-headquartered company, is active across 12 European countries and employs about 2,000 people. Eleven specialist mail-order companies operate within the Klingel Gruppe and focus primarily on the growing target group of consumers over 40. These are KLINGEL, WENZ, MONA, MEYER, HAPPY SIZE, BABISTA, VAMOS, DIEMER, WELLSANA as well as CASSEROLE und JUNGBORN.
In addition to the traditional catalogue business, Klingel Gruppe operates in the growing online segment.
+49 30 367 277 250
Dr. Jörg Blumentritt
Member of the Board
+49 7231 90 1018
About Vogel Ventures
Vogel Ventures is the investment arm of Vogel Business Media GmbH & Co.KG. Vogel Business Media provides high-quality specialist media platforms and internet portals to allow an exchange of knowledge between the participants in each specific market. Readers and users of our specialist media are given top-quality specialist information and knowledge which has been processed and edited by experts in the relevant sector, providing general guidance and help with decision-making and also serving initial training and further training purposes in professional daily work.
Tel.: 0931 418 – 0
About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of € 2m per portfolio company in follow-on financing. High-Tech Gruenderfonds has about € 573.5m under management in two funds (€ 272m HTGF I, € 301.5m HTGF II).