It’s the Monday after a holiday week. So of course everyone’s announcing the funding rounds they didn’t want to announce last week, due to it being a holiday week and so many people being on vacation.
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To kick off this week, we’re highlighting three midsize deals, ranging each from $45 million to $55 million, that caught our eye. Notably, two of them involved German startups.
ProGlove
Munich-based is an Industrial IoT company that’s making “smart wearables” such as intelligent gloves and arm mounted displays. Its smart glove, dubbed , (per itself) “can be connected to other devices such as tablets, smartwatches or wearable terminals via Bluetooth Low Energy (BLE).” The company also makes a wearable scanner, dubbed , that gives industrial users the ability to “scan while keeping their hands free.” Its goal is to help manufacturing and logistics staff “work safer, faster and easier.” Customers include Audi, BMW, Bosch, Daimler, and DHL.
Investors apparently like what they see. The five-year-old, 133-person company a $40 million from Boston-based . It’s raised over its lifetime, according to its Crunchbase profile. Previous backers include (which has invested in ProGlove multiple times) and .
In a , ProGlove said it plans to use the new capital primarily to expand its global footprint.
AppZen
Over on this side of the pond, San Jose-based has developed a platform for finance teams that uses “deep learning, computer vision and semantics analysis” to help companies do things like gain better visibility, detect risks and identify misuse.
The seven-year-old company touts that a fourth of the Fortune 500 use its offering. Its more than 1,500 enterprise customers include Amazon, WeWork, Salesforce, and Charles Schwab, among others. It’s just raised led by and that included participation from existing investors and . The round brings AppZen’s to $100.9 million since its inception, according to its Crunchbase profile. Previous backers include and .
In a , AppZen said it plans to use the new funding to “accelerate its mission to become the leading artificial intelligence (AI) platform for CFOs and their teams to reduce spend, comply with policy and streamline process.” It also noted that it “quintupled its revenue in 2018 and expanded to over 200 employees” and plans to increase its workforce by 146 percent by year’s end, “as well as expand its go-to-market efforts globally.”
Volocopter
Another German startup also announced a raise today. makes electric air taxis in an effort to increase “urban air mobility.” Its goal is to “save people time and to help megacities transform their transportation systems towards a more sustainable future by adding a new mobility option for their citizens.”
The eight-year-old company announced today the first close of its Series C with a $55 million financing led by China-based that included participation from German auto giant The round brings Volocopter’s to about $89.7 million, according to its Crunchbase profile. Previous backers include and Switzerland’s .
In a press release, Volocopter said it expects a second closing of its Series C by year’s end. It plans to use the “towards receiving commercial certification by the European Aviation Safety Authority (EASA)” for its VoloCity aircraft.
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