F-LOG Ventures invests in technology start-up Veecle
F-LOG Ventures, the venture capital fund of the FIEGE Group, has joined Veecle's seed financing round. The young Berlin-based company, which develops software for the integration into vehicles, secured a total of 2.6 million euros from F-LOG Ventures and other investors.
Successful seed funding: The VC fund F-LOG Ventures, whose anchor investor is the logistics service provider FIEGE, has invested in the automotive start-up Veecle. The Berlin-based software company has developed an innovative operating system that enables car manufacturers to integrate software more easily. The syndicate, led by Relay Ventures and supported by F-LOG Ventures, IBB Ventures and Plug & Play Ventures, provided a total of 2.6 million euros for Veecle as part of the financing round.
Veecle CEO Stefan Nürnberger explains: “Software-defined vehicles will dominate the future markets. However, the automotive industry is lagging behind in software development and integration because it is laborious, expensive and time-consuming. This is where we come in. Veecle empowers car manufacturers to break supplier dependencies and fast-track development processes. Our technology enables them to directly integrate their own features into car functions. This opens the door to innovative business models through connectivity.”
Tanja Rosendahl, Managing Partner at F-LOG Ventures says: „Veecle's robust system has the potential to cut down development time from several years to just a few months. At the same time, it guarantees car manufacturers full control over the software.“ And Bernhard Gold, Managing Director FIEGE Ventures, adds: “We firmly believe that the solution will usher in a new era in the automotive industry and look forward to accompanying the Veecle team in the next steps.”