Berlin – A YPOG team co-led by Frederik Gärtner and Tobias Lovett advised venture capital investor Chalfen Ventures on the recent seed financing round of SaaS startup Luminovo. The funding was led by Chalfen Ventures with further participation of Tencent, Verve Ventures and Khadjavi Capital Partners as well as the existing investors La Famiglia and Cherry Ventures.
With its software, Munich-based startup Luminovo fills a gap in the market and counteracts the existing chip shortage in the industry. The program allows customers to calculate the risk of relying on a single component from a single supplier or the cost of considering alternative components during the design process. Luminovo founder Schaal also recently acquired competitor Electronic Fellows, bringing his second product to market. The startup has developed a program that enables PCB manufacturers to create digital offers in a short time. Previously, these were mainly created in time-consuming manual work.
With the fresh money, Luminovo plans to double the team, push the product development and expand the distribution.
Advisors Chalfen Ventures:
Dr. Frederik Gärtner (Co-Lead, Transactions), Partner
Tobias Lovett (Co-Lead, Transactions), Senior Associate
Dr. Benedikt Flöter (IP/IT), Associated Partner
Anna Eickmeier (IP/IT), Senior Associate
About Chalfen Ventures
Chalfen Ventures is Mike Chalfen’s VC firm. It invests in software startups aiming to grow and dominate new and often non-obvious markets. Investing from day 1 through Series A, it often leads but is always flexible. Mike operates as a solo VC, with no distractions from working 1:1 with the entrepreneurs who have chosen him.
About Luminovo
Luminovo is a SaaS provider for the electronics industry. The company's vision is to bring innovations faster to everyone by reducing the time and resources needed to go from an idea to a market-ready electronic product. Their software rethinks processes for OEMs, EMS, and distributors in order to accelerate technological progress. Their electronics operating system is designed to make these processes more collaborative, data-driven, and automated enabling clients to benefit from streamlined workflows.
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About us
YPOG stands for You + Partners of Gamechangers – forward-thinking legal and tax advice. Supporting companies that are focused on emerging technologies, YPOG embraces change as an opportunity to develop cutting-edge solutions. The YPOG team offers comprehensive expertise in the areas of Funds, Tax, Transactions, Corporate, Banking, Regulatory + Finance, IP/IT/Data Protection, Litigation, and Corporate Crime + Compliance + Investigations. YPOG is one of the leading law firms in Germany for venture capital, private equity, fund structuring, and the implementation of distributed ledger technology (DLT) in financial services. Both the firm and its partners are regularly recognized by renowned national and international publications such as JUVE, Best Lawyers, Chambers and Partners, Leaders League, and Legal 500. YPOG is home to more than 150 experienced attorneys, tax advisors and tax specialists as well as a notary, working across offices in Berlin, Hamburg, Cologne, and Munich.
Further information: www.ypog.law/en/ and www.linkedin.com/company/ypog
