Vieh24 – Germany’s first Online Livestock Trading Exchange received seed funding from High-Tech Gründerfonds
The young technology venture Nutzvieh24 Ltd. from Miesbach, Germany, developed Germany’s first specialised Internet-based livestock trading exchange for professionals in the agricultural sector (www.vieh24.de). High levels of cattle-type sensitive parameterisation, a cooperative market entry with various strategic alliance partners, as well as integrated services are characteristic features of the exchange. High-Tech Gründerfonds invests as seed investor in Nutzvieh24 Ltd.
The Online Cattle Trading Exchange Vieh24 specialises in the direct national and international trade of livestock, embryos and semen and uses an adapted auction and “buy-it-now” mechanism that is based on existing physical livestock auctions. Initially, the young venture focuses on cattle with its categories productive cattle, breeding cattle, fed cattle, slaughter cattle, embryos and semen – in Germany alone a market worth more than 1.5bn Euros annually. The target market are professionals in the agricultural sector.
The two seasoned founders, who know each other since the 90s when they were both managers at Apple, developed the technical concept and the marketing strategy for Germany’s first specialised transactional livestock trading exchange.
“We are happy to have signed with the High-Tech Gründerfonds, a renown and engaged investor, enabling us to develop and market this rather unusual trading plattform.”, state the two founders of Nutzvieh24 Ltd. Dr. Jürgen Brock und Godehard Gerling enthusiastically.
The innovative und unusual business idea, the existing alliance partners, as well as the cleverly devised market entry concept convinced the High-Tech Gründerfonds. “Up until now transactions in this market were initiated via physical auctions, local livestock traders or classifieds. We believe that the disruptive market concept of Nutzvieh24 will, for the first time, lead to price transparency in this rather old-fashioned and inefficient market. The innovative business model saves significantly on transaction costs, that benefit buyers and sellers.”, adds Andreas Quauke, Investment Manager of the High-Tech Gründerfonds.
About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests venture capital into young, high-potential technology companies that convert promising research results into successful businesses. The seed financing provided aims to enable start-ups to take their R&D propositions to the development of a prototype, proof of concept and possibly market launch. High-Tech Gruenderfonds initially invests an amount of EUR 500,000 and can invest up to a combined total of two million Euros per company in subsequent financing rounds. Investors in this public/private partnership are the German Federal Ministry for Business and Technology (BMWi), the KfW Banking Group as well as the six industrial companies BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss. High-Tech Gründerfonds has approximately 272 million Euro under management.
High-Tech Gründerfonds Management GmbH
Phone: +49 228 96568500
Fax: +49 228 96568550