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 millions.
In addition to a follow-on investment from the Technology Start-up Fund Saxony (TGFS) andHüttenes3, SBG – Sächsische Beteiligungsgesellschaft – is also investing 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 since supported over 100 start-ups. 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 best-staffed advisory units in Central Germany and supports investors and entrepreneurs through all stages of development, particularly in company formation, business development, corporate financing and all exit processes.