Geospin, a Freiburg, Germany-based machine learning software startup, raised a seven-figure seed funding round.
Backers included High-Tech Gründerfonds and Thüga AG.
The company is used for the further development and market launch of the software.
Co-founded by Dr. Sebastian Wagner, Dr. Johannes Bendler, Dr. Christoph Gebele, Niklas Goby and Dr. Tobias Brandt at the Information Systems Research department at the University of Freiburg, Geospin develops a SaaS based solution for the analysis of geodata using machine learning methods. The platform enables companies to objectively identify geographical success factors and apply them in a targeted manner.
The software unites the internal data of clients with more than 700 external pieces of information on the surrounding area, including weather, traffic, demographics, social media and points of interest such as restaurants and public institutions. Specialized machine learning and deep learning methods are used to analyze this data.
The developed methods are already being used in various sectors such as mobility and smart cities.
Clients include HTGF fund investors Thüga and Bosch as well as Siemens, Volkswagen, Deutsche Bahn and Union Investment.