Building Radar: Silicon Valley investor funds Bavarian technology start-up
The Munich-based technology start-up Building Radar, which was previously funded by the LMU Entrepreneurship Center, successfully took part in a competition involving participation in a funding programme entitled “8D Company Building Program”, which is sponsored by the American investor Michael Blum. Along with nine other entrepreneurial teams, all from renowned universities such as Harvard, Stanford and the MIT, the Munich-based company will receive one-off funding in the amount of USD 100,000.
The business model promoted by Building Radar is based on a technically challenging implementation, while offering tremendous potential. The company focuses its activities on a market with an estimated volume of EUR 71 billion. Using a satellite-based search method, Building Radar collects data around the world on pending or ongoing construction projects and sells this data in the form of sales leads to companies from the construction sector. The technical expertise of the Building Radar team is exemplary for many young entrepreneurs in the Bavarian start-up landscape.
Last year, the Munich-based KONUX GmbH, a young manufacturer of optoelectronic sensors, was included in the funding programme sponsored by the American investor. The fact that a second Bavarian tech company is being funded one year later is an excellent example of the high innovative strength and the above-average technical know-how in the Bavarian start-up scene. An additional example can be found in Garching (near Munich): It has just been announced that Cevotec GmbH was also able to make a lasting impression. The company was retroactively included in this year's funding programme.