Proglove founders succeed in exit

The Munich-based start-up has developed an intelligent glove. Now a Swedish investor is buying large parts of the company.

The Swedish private equity investor Nordic Capital is taking over a large part of the Munich-based start-up Proglove. In partnership with the management and founders of Proglove, Nordic Capital intends to support the company in accelerating its planned growth, further expanding its customer base and investing in product and software development. The parties have agreed not to disclose the financial details of the transaction.

"Thanks to Nordic Capital's extensive expertise in Industrial IoT and SaaS, we will be able to realize our full potential," says Andreas König, CEO of Proglove. The founders and management of Proglove will remain minority shareholders after the acquisition.

Thomas Kirchner, Paul Günther, Jonas Girardet and Alexander Grots founded the company in 2014. The start-up sells an intelligent scanner that can be integrated into gloves. With this technology, companies should be able to save four seconds per scan. According to the company, it has 250 employees in Munich, Chicago and Belgrade and customers in over 30 countries. According to Proglove, these include well-known companies such as Mercedes-Benz, VW, BMW, DHL, XPO Logistics, GAP and Staples.