otego GmbH, a Karlsruhe, Germany-based startup for the production of thermoelectric generators (TEG), raised a a seven-figure first funding round.
Backers included High-Tech Gründerfonds, LBBW Venture Capital GmbH and Vector Venture Capital GmbH.
The company intends to use the funds to continue to expand operations.
A spin-off of the Karlsruhe Institute of Technology (KIT), otego develops innovative thermoelectric generators (TEGs) to provide an independent energy supply for wireless sensors and actuators. The technology, developed within the framework of the Forum Organic Electronics cluster, converts heat into electric power and combines materials with large-scale industrial production processes.