From Leipzig Over the Atlantic: SpinLab Start-up replex Raises EUR 1.5 Million for U.S. Expansion
Not even two weeks into the fifth themed class of SpinLab – The HHL Accelerator, one of the six start-ups has announced a successful funding round. The software developer replex, which had been self-funded by its founders so far, will now obtain EUR 1.5 million in external funds in the seed stage. The real-time system for the optimization of IT infrastructures managed to win over High-Tech Gründerfonds, EnBW New Ventures as well as eValue AG and the U.S. Entrepreneur Investment Fund as investors. The capital will be used for expansion and entry into the U.S. market.
Patrick Kirchhoff, CEO of replex, says, "We are thrilled about the multilateral support and approval of our technology. Our focus is now on the U.S. market as we see the greatest potential there." However, Leipzig is also very important to the start-up which was founded in the Ruhr region in 2016. The replex founders got to know the Saxon metropolis in San Francisco, of all places, where they met successful entrepreneurs who have offices in the city or the Free State of Saxony or are headquartered there and talked about their positive experience. "Leipzig is a very attractive location. We expect considerably higher employee retention and loyalty than in other cities such Berlin, where you hear about significantly more employee fluctuation, especially in the technology field." Kirchhoff continues, "In this context, SpinLab stands out as an accelerator of particularly high quality, not just in the region but also nationally. We have already obtained broad access to other companies and excellent applicants in the first few days. We are hoping to get in contact with highly talented people thanks to the relation to HHL as a renowned business school."
The start-up business replex, which already participated in the German Accelerator Tech and was named Euro Road Show Winner, offers software for IT infrastructure management and optimization. Information is collected in real time from cloud providers, from physical and virtual machines as well as containers and is then utilized. This software also contains algorithms for the optimization of resources. The goal is to maximize server capacities and to increase efficiency. www.replex.io
About SpinLab – The HHL Accelerator
SpinLab – The HHL Accelerator supports innovative start-up projects with the implementation and growth of their ventures. In addition to intensive coaching, the founding teams will also benefit from a high-caliber mentoring program as well as numerous contacts to investors, established companies and other founders. They can use a co-working office with state-of-the art equipment on the premises of Spinnerei, an old cotton mill now serving as a center for creativity, and will gain access to various technologies offered by partners. Even after completing the program, the start-up teams are supported in their recruiting efforts, they can plan their expansion through an international exchange program and they get the opportunity to rent office space next to SpinLab. The founders will be able to use all offers free of charge when they are accepted for the six-month program. The accelerator is funded through contributions from investors and established companies such as Deutsche Postbank, Porsche, CMS Hasche Sigle, Dell, Deutsche Bank, Doberman Ventures, DZ Bank, Grazia Equity, Heinz Dürr Invest, KPMG, Madsack Mediengruppe, Mittelständische Beteiligungsgesellschaft Sachsen, Quarton International, the City of Leipzig, taskforce – Management on Demand and Technologiegründerfonds Sachsen. Thanks to a collaboration with the City of Leipzig, each team receives EUR 6000 in start-up funding. www.spinlab.co
HHL Leipzig Graduate School of Management as a hotbed for entrepreneurs
With over 165 start-ups established by HHL alumni over the past 20 years, HHL Leipzig Graduate School of Management has developed into a very successful incubator for company creation. The founders' entrepreneurial commitment has created more than 2,800 jobs already. In 2013, 2014 and 2017, HHL reached one out of the three first places for the best entrepreneurial universities in Germany cited in the Start-Up Radar ranking published by Stifterverband für die Deutsche Wissenschaft (Founders' Association of German Science) and the German Federal Ministry for Economic Affairs and Energy (BWMi). According to the Financial Times, HHL ranks first in Germany and fifth globally for its entrepreneurship focus within the M.Sc. and EMBA programs. www.hhl.de/EntrepreneurialGraduateSchool