Press

The decentralized identity and digital twin pioneer Spherity receives Seed Financing from HTGF

October 9, 2019

  • Berlin start-up Spherity develops decentralized identity management solutions for industrial IoT applications
  • Companies, machines, smart devices and algorithms are given a digital identity (“digital twins”) that is verifiable and globally addressable as a “URL for everything”
  • These digital twins enable tamper-proof data sharing within highly complex and cross-enterprise business processes
  • Proven use cases in the mobility, supply chain, or pharmaceutical industries demonstrate the benefits of the technology
  • High-Tech Gründerfonds (HTGF) invests as lead investor

 

When companies, machines, smart devices and algorithms interact in the digitally world, they must be certain exchanging data with the correct interaction partner. Since most of today’s systems remain siloed and optimized for internal processes, this trust can only be achieved through a high level of bilateral integration. To solve this problem, Spherity secures digital business processes by assigning unique digital identities to companies, machines, intelligent devices and algorithms. The so-called digital twins of these entities sign all transactions and their connected data in the digital world cryptographically. This guarantees crystal-clear authenticity and a tamper-proof data exchange in complex business processes and value chains.

Christian Ziach, Investment Manager at High-Tech Günderfonds (HTGF):

“In a thought through digitalization in which we want to raise the potential of blockchain technologies, it is not enough to network every “milk can” with 5G. In the Internet of Things (IoT) things must be clearly identifiable. Only in this way can trust be created, which is the basis of any contractual relationship. At the same time no isolated solutions may be created. This is where Spherity comes in, who has developed an application- and industry-spanning, scalable and secure software solution.”

Spherity will use the investment to accelerate the development of its core platform to provide interoperable and blockchain-agnostic identity service offerings. Additionally, the team will focus on extending existing strategic relationships with its customers and on contributing to official refinement processes of the “Decentralized Identifier” and “Verifiable Credential” W3C standards.

About Spherity
Spherity was founded by Dr. Carsten Stöcker und Dr. Michael Rüther in November 2017 and employs currently 11 people. Spherity is building decentralized identity management solutions to power the 4th industrial revolution, bringing secure identities (“Digital Twins”) to machines, algorithms, and other non-human entities. The client focus is primarily on technical industries like mobility, supply chain, and pharmaceuticals; in particular, Spherity is supporting the introduction of identity solutions in the Industrial Internet of Things (IIoT) market, which is expected to have a value of over €400 billion by 2030 and 75 billion connected devices by 2025.

Contact
Spherity GmbH
Dr. Michael Rüther
michael.ruether@spherity.com
T.:+49 172 564 5743
communication@spherity.com
www.spherity.com

About High-Tech Gruenderfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 550 startups 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 startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.

To date, external investors have injected over EUR 2 billion into the HTGF portfolio via more than 1,400 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, the KfW Banking Group, 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
Christian Ziach
Schlegelstraße 2
53113 Bonn
T.: +49 228 82300 162
c.ziach@htgf.de
www.htgf.de

Stay up to date

Subscribe now and receive the latest press releases on investments and other news from High-Tech Gründerfonds. We inform you about important developments at HTGF and provide you with interesting news from our portfolio. Whether it’s a successful exit, a new exciting investment or HR news – you’ll be the first to know!

More Press posts

Press
25. September 2023

traceless materials secures €36.6 Million Series A to build first industry plant for bio-circular alternative to plastic

The financing round was led by UB FIGG and SWEN CP’s Blue Ocean fund. traceless materials secures the funding to expand the production capabilities for its innovative biomaterial technology to industrial scale. Hamburg, Germany - September 25, 2023. Bioeconomy startup traceless, which produces a natural biomaterial as an alternative to plastic, announces the completion of a €36.6 million funding round. The Series A funding round is led by private equity fund UB Forest Industry Green G
 
Press
15. September 2023

Successful exit for HTGF: adivo joins Zoetis to bring the benefits of species-specific antibody therapies to pet owners worldwide

adivo’s team and platform will strengthen Zoetis’ capabilities in therapeutic antibody drug discovery for companion animals. High-Tech Gründerfonds (HTGF) was among the first investors in a seed round in 2018 together with OCCIDENT and MorphoSys AG and closely supported the successful development of adivo. Dr. Kathrin Ladetzki-Baehs, Founder and CEO of adivo: “I look forward to seeing what our team can achieve as part of a leading organization with global reach while continuing
 
Press
14. September 2023

​​​​​viboo closes CHF 1.5m seed round to fully commercialize its predictive energy efficiency platform to decarbonize buildings

High-Tech Gründerfonds, Swisscom Ventures and Rainmaking Impact have invested CHF 1.5 million into Swiss climate tech start-up viboo.  The seed round showed strong investor interest and confidence in viboo’s innovative energy-saving solutions for buildings.  viboo will use the funding to scale up the commercialization of its proven Predictive Control as a Service platform, capitalizing on the upcoming heating season to make a significant impact in decarbonizing buildings.