Bayern Kapital Innovation Fund ERDF II: New investment for AVES Reality in Garmisch-Partenkirchen

AVES Reality from Garmisch-Partenkirchen receives million-euro investment from the new Bayern Kapital Innovationsfonds EFRE II for its AI-based 3D maps

Landshut / Munich / Garmisch-Partenkirchen, May 2, 2024 - The Bavarian Ministry of Economic Affairs, together with Bayern Kapital and the LfA Förderbank Bayern, has launched the Bayern Kapital Innovation Fund ERDF II. This fund is designed to support young, technology-oriented start-ups outside the greater Munich area with equity capital. A total of EUR 20 million is available for this purpose, with part of the funding coming from the European Regional Development Fund (ERDF).

First investment goes to AVES Reality

The first company to benefit from this new fund is AVES Reality GmbH from Garmisch-Partenkirchen. AVES Reality is an expert in the field of AI-based 3D maps. The funds from the pre-seed financing round led by the Fraunhofer Technology Transfer Fund (FTTF) will be used to further develop its software and enter the market.

With its software solution, AVES Reality is not only addressing a key challenge in the implementation of future concepts such as autonomous driving.

Monika Steger, Managing Director of Bayern Kapital.

AVES Reality, founded by Florian Albert, Severin Knebel and Matthias Heger in 2022, is developing a software solution for the automated creation of 3D maps using artificial intelligence. Such precise virtual maps are crucial for the development of driver assistance systems in the field of autonomous driving, for example.

The funding will be used to further develop the AVES Reality software currently used on a project basis to generate virtual 3D digital twin models into a web-based software-as-a-service (SaaS) solution and bring it to market. In addition, initial customer projects, including with leading companies in the automotive industry, are to be expanded and the first license customers acquired. These ambitious growth plans might not have been possible without external funding.

Objective of the ERDF program: promoting employment and growth throughout Bavaria

Bavaria's Minister of Economic Affairs, Hubert Aiwanger, explains that the ERDF program aims to promote investment in employment and growth throughout Bavaria. The innovation fund also makes it possible to support innovative companies in regions outside of metropolitan areas. This is particularly important in order to strengthen the competitiveness and growth potential of various regions.

"With the Bavarian ERDF program, we want to promote investment in employment and growth as well as equal living and working conditions throughout Bavaria.

Dr. Bernhard Schwab, Chairman of the Board of LfA Förderbank Bayern

The Bayern Kapital Innovation Fund ERDF II invests primarily in technology-oriented small and medium-sized enterprises (SMEs) in the seed and start-up phase. Up to 2.5 million euros can be made available per company, even over several rounds of financing.