Successful Exit for High-Tech Gründerfonds – fos4X becomes part of PolyTech

September 8, 2020

• Buyer is the Danish wind technology company PolyTech
• The Munich startup fos4X perfectly complements the core business of the buyer
• Seed investors Bayern Kapital, HTGF and UVC Partners sell their shares
• For the HTGF it is the 7th successful exit during the Corona crisis

The High-Tech Gründerfonds sold its shares in fos4X today. The seed investor has accompanied the company for 8 years. The buyer, PolyTech is the leading development, test, production and service company for the wind power industry. For the company, fos4X, innovator in fiber optic sensor technology and data analysis, is a perfect match.

Advanced turbine blade designs have the potential to change the way wind energy is produced. Enhancing the blades through digital technology and advanced data analysis will allow wind turbine operators to optimize operations and maintenance through intelligent use of real-time data. The acquisition of fos4X strengthens PolyTech’s expertise in precisely this area.

As a founder, I could not wish for a better match. As part of PolyTech, our intelligent sensor and software solutions will be further developed and the fos4X vision of abundant clean energy will be driven even more strongly than before.

Lars Hoffman, CEO fos4X

The fos4X success story began in 2010 at the Chair of Measurement Systems and Sensor Technology at the TU Munich. The founders pursued the idea of developing fiber optic sensors that would make wind turbines more intelligent and efficient. In 2012 UVC Partners, Bayern Kapital and the HTGF structured the seed financing. Falk Strascheg Holding GmbH and Equinor Ventures joined in later rounds.

Today fos4X supports its customers in creating sustainable digital business models by enabling autonomous industrial plants based on its own sensor technology. Wind energy plants around the world use fos4X software and hardware products to optimize their operations. About 100 employees work for the company in Germany and China.

As a seed investor we can look back on 8 years of excellent cooperation and a great development. Fos4X is a great example of how an innovative, robust and international company can be built in Germany with a strong technology, a lot of passion and hard work. With PolyTech, we are very confident that fos4X has found a strong partner to jointly leverage further potential and give the wind industry a boost.

Lucille Bonnet, Principal of the HTGF

The transaction was supported by GCA Altium on the sellers’ side. The financial terms of the exit agreement were not disclosed. The press release by PolyTech is available here.

About fos4X

• Fos4X GmbH is a Munich-based innovator in fiber optic sensor technology and data analytics for the wind industry.
• The technology developed by fos4X utilize data-driven approaches such as machine learning to digitize and optimize existing and new wind turbines. The intelligent solutions are based on robust fiber optic rotor blade sensor technology.
• Founded in 2010, fos4X has benefited from the innovative startup environment and high availability of skilledengineering talent in Munich to grow to a size of 100 employees.

About PolyTech

• PolyTech develops and manufactures products and systems for OEMs and owners in the wind industry
• PolyTech specializes in solutions that improves the performance and protection of wind turbine blades for newbuild and retrofitting to reduce the overall cost of Levelized Cost of Energy (LCOE). The products include lightning protection systems, leading edge protection, blade add-ons and transport solutions. 
• Product development at PolyTech is based on a holistic approach. The company has a DANAK-accredited test facility in Bramming and a world-class DANAK accredited lightning test facility in Herning.
• PolyTech is growing rapidly and since 2013, the number of employees has gone from 35 to 700 employees in Denmark, China, Mexico and the United States. The acquisition of fos4X will bring the global number of employees close to 800.
• Since 2016, PolyTech has been owned by Verdane Capital.

About 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 tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.6 billion into the HTGF portfolio via more than 1,600 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.

Contact
High-Tech Gründerfonds Management GmbH
Lucille Bonnet, Principal
T:  + 49 228 82300 134
l.bonnet@htgf.de