Siemens invests in Munich start-up Magazino

14 Jul 2015 | 01:25 pm |

International law firm Pinsent Masons advised the Munich start-up company Magazino in its future cooperation with Siemens as well as in Siemens' investment in Magazino by acquiring shares held by High-Tech-Gründerfonds and two other business angels.

Magazino was founded at TU Munich by Frederik Brantner, Lukas Zanger and Nikolas Engelhard. The three entrepreneurs will continue to hold 50.1% of the shares in Magazino and act as managing directors. Siemens acquired an interest of 49.9 %.

Magazino develops perceptual logistical systems, such as the mobile shelf robot "Toru". Toru sustainably will change picking in the e-commerce sector. It is a mobile robot which automatically drives to the shelf which stores the product and picks a single product from it. Apart from pharmacies, mail-order companies are part of Magazino's customer base.

Siemens Innovative Ventures identifies and finances young companies worldwide during their start-up phase and provides established companies with additional capital for their growth plans during the expansion phase. Through portfolio companies, Siemens Innovative Ventures offers new technological solutions and taps new markets. Siemens Innovative Ventures focuses on growth segments in the energy, industry, infrastructure and healthcare markets.

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