Cevotec GmbH, a Munich, Germany-based company that develops and sells production systems and software for the automated production of complex carbon composites (carbon fiber reinforced plastics or CFRP), raised €1.75m in seed funding.
Backers included High-Tech Gründerfonds, Bayern Kapital and three business angels from the BayStartUP network.
The company intends to use the funds to set up a sales and marketing team.
Founded 2015, Cevotec provides production technology for carbon composites that works with patch laminates and allows manufacturers to build complex parts in high volumes.
A spin-off from the Institute for Carbon Composites of Technische Universtität München and supported by the EXIST research transfer program, the European Space Agency and the accelerator programs Founder.org and TechFounders / UnternehmerTUM, the company develops and sells production systems, composite design software and offers development services for prototypes and serial products.
Cevotec is led by Thorsten Groene and Felix Michl.