SCHAD Secures $4.2 Million Led By M8 Capital For Its Plant Mobile Monitoring Technology

Monday, 10 January 2011 13:48

SCHAD Secures $4.2 Million Led By M8 Capital For Its Plant Mobile Monitoring Technology

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London-based m8 Capital has announced its latest investment: leading a $4.2 million round in SCHAD, which produces mobile technology to enable engineers to remotely access, monitor and manage company plants, systems and facilities. The German company's customers include Ford, BASF, Vanderlande Industries, FRoSTA, Deutsche Lufthansa, Volkswagen and the Airports of Cologne Bonn, Munich and Berlin. Original seed investor High-Tech

Gründerfonds has also participated in the round, although an exact break down remains elusive. SCHAD represents the third investment for m8, the majority-owned affiliate of AGC Equity Partners that targets mobile startups and technology. In June 2010, it invested $800k in the location-based startup Rummble, while more recently $2 million was put into Masabi, which develops mobile ticketing technology for the transport sector.