SCHAD, a Hamburg, Germany-based mobile technology company has received a US$ 4.2m venture capital financing.
The round was led by m8 Capital, with participation from High-Tech Gründerfonds.
The company intends to use the capital to further develop its product line and to expand globally.
Founded in November 2007, SCHAD has developed a technology that allows engineering staff of global enterprises to remotely access, monitor and manage their plants, systems and facilities from mobile phones (BlackBerry/iPhone/Android/Windows) and other mobile devices (iPads/tablets).
Extend 7000 has been applied in different industries and business sectors – including logistics, automotive, chemical industry, facility management, food industry, energy supply as well as oil and gas.
Global enterprises such as Ford, BASF, Vanderlande Industries, FRoSTA, Deutsche Lufthansa, Volkswagen and the Airports of Cologne/Bonn, Munich and Berlin have implemented the system.