Proglove founders succeed in exit
Janina Gerhardt
| 05.05.2022
The Munich-based start-up has developed a smart glove. Now a Swedish investor is buying large parts of the company.
The Swedish private equity investor Nordic Capital is acquiring large parts of the Munich-based start-up Proglove. Nordic Capital, in partnership with Proglove's management and founders, intends to help the company accelerate its planned growth, further expand its customer base and invest in product and software development. Financial details of the transaction were not disclosed.
"Nordic Capital's extensive expertise in Industrial IoT and SaaS will allow us to fully realize our potential," said Andreas König, CEO of Proglove. Proglove's founders and management will remain minority owners 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. The technology is said to allow companies to save four seconds per scan. The company says it has 250 employees in Munich, Chicago and Belgrade and customers in more than 30 countries. Among them are well-known companies such as Mercedes-Benz, VW, BMW, DHL, XPO Logistics, GAP and Staples, according to Proglove.
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Startup
2014
München
ProGlove
Develops smart wearables that enable manufacturing and logistics staff hands-free barcode scanning.
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