High-Tech Gründerfonds, Bayern Kapital and SpaceTec Capital Partners to invest in United Maps GmbH
United Maps produces a new generation of fully routable, highly detailled and multimodal vector maps. Basemaps known from vehicle navigation and market leaders like Navteq, Tele Atlas or AND are algorithmically matched with value added cartographic data and relevant information layers and conflated into new data products.
Digital cartography and webmapping by Google Earth, Yahoo! Maps or Windows Live Search Maps are fast-growing segments of online usage worldwide.
Stefan Knecht, CIO and one of the three founders comments: "With support and funding of our investors, we deploy a disruptive technology and deliver unique map products just in time with the geodata, geolocation and GPS-boom."
Carsten Recknagel, co-founder, COO and chief cartograph of United Maps GmbH: "Our aggregation of diverse datasets is highly automated and delivers more than 90 percent correct matches. Processes and workflows are optimized for international markets and products."
United Maps' technological approach has a high potential: "United Maps demonstrates a unique innovation in a fast-growing market for location-based services and media. As a B2B-provider, United Maps extends details and relevancy of mapping services and offers a real added value.", says Holger Heinen, Senior Investmentmanager at High-Tech Gründerfonds.
Target markets for United Maps' better maps are mobile devices and Smartphones, location-aware Media and Services (LBS) in online portals and business process optimization. United Maps' white-labeled and on-demand services primarily cater for vertical B2B-markets and professional customers.
As Rainer Horn, Managing Director of SpaceTec Capital puts it: "(...) United Maps delivers the reference frame for precise positioning systems and critical building blocks for the future geoweb."
Andreas Wiedmann, co-founder and CEO: "I am really looking forward to an already fertile cooperation with our investors High-Tech Gründerfonds, Bayern Kapital - and we appreciate being the first investment of SpaceTec Capital."
With more than 10 experienced cartographers, editors and GIS experts, United Maps produces better maps starting in November 2008. Germany is scheduled in 1Q09, Austria, Switzerland and additional 200 European cities will follow in 2Q09.
About United Maps GmbH:
United Maps is focussed on vector cartography and geoinformation and was founded in 2008 by Andreas Wiedmann (CEO), Stefan Knecht (CIO) and Carsten Recknagel (COO). With proprietary algorithms, experienced cartographers and efficient workflows, basemaps by leading industry providers are enhanced and added into a new generation of maps for mobile devices, webservices and process optimization (BPO). With unique detail, topical layers and exhaustive editorial input and maintainance, United Maps' products "fill the gap within road networks" with relevant content and leverage innovative applications and services in the geospace.
About Bayern Kapital:
Bayern Kapital GmbH is a Bavarian venture capital company and was founded as part of the "Bavarian Future Initiative" as a wholly-owned subsidiary of the LfA Foerderbank Bayern (Bavaria's development bank) at the end of 1995. The objective of Bayern Kapital is to finance research and development and market introduction of new products. In this effort Bayern Kapital usually acts as co-investor in cooperation with a lead investor.
About SpaceTec Capital Partners:
SpaceTec Capital Partners GmbH, Munich is a consulting and investment company in the market of geo- and satellite information. SpaceTec is focussed on engagements on applications and services with high development potential.
High-Tech Gründerfonds Management GmbH
The High-Tech Gründerfonds invests venture capital in young technology companies that transform promising scientific research into business enterprises. The seed financing of up to 500 T¤ shall result in a technical prototype, a proof of concept or a proof of market. High-Tech Gründerfonds has access to a fund volume of around 272,0 million Euro. Investors in this public-private partnership include the Federal Ministry for Economy and Technology, the KfW Banking Group as well as the six industry companies BASF, Robert Bosch, Carl Zeiss, Daimler, Deutsche Telekom and Siemens.