GRUENDELPARTNER advises TGFS on seed funding for Packwise
Packwise GmbH, the leading Industrial IoT company based in Dresden, has successfully completed a funding round worth several million.
In addition to a follow-on investment from the Technology Start-up Fund Saxony (TGFS) andHüttenes3, SBG – Sächsische Beteiligungsgesellschaft – is also participating for the first time as part of the new ‘Innovationskapital Sachsen’ (‘RIG’) programme, which is co-financed by the German government’s Future Fund.
With its combination of the ‘Packwise Smart Cap’ IoT sensor and the ‘Packwise Flow’ software platform, Packwise offers a comprehensive smart solution for digital container management in the process industry. The technology enables real-time monitoring of fill levels, locations and environmental conditions of industrial packaging, thereby creating data-driven transparency throughout the supply chain.
The TGFS is an equity partner in Saxony for the seed and start-up phases. The fund was first launched in 2008 by the Free State of Saxony and Saxon financial institutions and has supported over 100 start-ups since then. In 2023, the TGFS launched its third fund generation.
SBG – Sächsische Beteiligungsgesellschaft mbH, as an investment partner of the Free State of Saxony, provides equity capital for growth-oriented, innovative companies. Through the RegioInnoGrowth Fund (RIG), which it manages, SBG makes targeted investments in technology-driven companies in the growth phase as part of the “Innovationskapital Sachsen” programme.
GRUENDELPARTNER provided comprehensive legal advice to the lead investor, TGFS, during the financing round.
GRUENDELPARTNER’s M&A, Venture Capital and Private Equity practice group is one of the most experienced and largest advisory teams in Central Germany, supporting investors and entrepreneurs at all stages of development, particularly in company formation, business development, corporate finance and all exit processes.