Oberhaching, Germany, 26 September 2023 – EnOcean, a leading innovator in sustainable Internet of Things (IoT) as well as maintenance-free and battery-free sensor-to-cloud solutions, today announced a substantial investment from Innovation Industries, a leading deep tech VC fund. This strategic partnership not only provides EnOcean with the necessary capital to support its continued growth but also signifies a strong alignment of strategic goals between the two entities.
The investment from Innovation Industries underscores the starting point for EnOcean's additional organic and inorganic growth strategy, providing vital resources to accelerate the development of new sustainable IoT solutions and widen its market footprint. This infusion of capital follows on the heels of EnOcean’s first acquisition in late 2022.
“This investment marks a significant milestone for our company and exemplifies the strong alignment of our objectives and our strategy going forward. We believe that this strategic partnership is a testament to the strength of our vision and the exceptional potential we hold in the market,” said Raoul Wijgergangs, CEO of EnOcean. “We are excited to embark on this journey together and are confident that this step will pave the way for our continued growth and innovation. We are truly pleased with this development and look forward to the promising future it brings to all parties involved."
Chris Sonnenberg from Innovation Industries added: "Partnering with EnOcean in their pursuit ofsustainable IoT solutions is a remarkable opportunity for Innovation Industries. We are excited to expand our investment portfolio into the vibrant German market, and joining forces with a company that holds a leadership position in the sustainable IoT sector is inspiring. The dedication EnOcean is showing to drive innovation in products, channel, and business model while prioritizing environmental sustainability aligns seamlessly with our own values. This investment not only signifies our confidence in EnOcean's capabilities but also our commitment to fostering technology-driven positive change. We eagerly anticipate the positive impact our partnership will bring to both the company and the IoT landscape as a whole."
With this positive strategic alignment based on a continued buy-and-build strategy, EnOceanen visions further acquisitions with separate capital raises that willcomplement its portfolio and enhance its capabilities. The strategic partnership with Innovation Industries provides a strong foundation for these future endeavors, with both entities committed to fostering growth and innovation.