Luminovo receives eleven million euros

The Munich-based start-up has developed an AI-supported software suite designed to help electronics companies bring important innovations to market faster, more cost-effectively and more sustainably.

The Munich-based start-up Luminovo has raised eleven million euros in a seed financing round. Chalfen Ventures led the round, Tencent, Verve Ventures and Khadjavi Capital Partners as well as existing investors La Famiglia and Cherry Ventures also contributed money.

Sebastian Schaal and Timon Ruban founded Luminovo in 2020. The start-up claims to deliver the world's first cloud-based end-to-end software suite designed to drive technological progress by improving hardware development on a global scale. The start-up's system is designed to significantly speed up the electronics development process and help new technologies reach the market faster. This could save developers money.

"We have set ourselves the task of rethinking the entire electronics value chain in order to make it more efficient, effective and impactful," says Schaal. The software consolidates and reorganizes the quotation process - including material and production cost calculation - in a cloud-based tool. According to the start-up, PCB manufacturers, for example, rely on the software. It helps them to combine the visualization, analysis and approval of printed circuit boards in one workflow, thereby shortening quotation times and increasing efficiency.

"Complex, process-driven industries are ripe for change, but it often seems too difficult for people in these industries to make a difference. Luminovo has developed products that are easy to adopt and deliver value quickly," said Mike Chalfen of Chalfen Ventures, explaining the investment decision.