Funding
autoaid GmbH, a specialist in web-based car diagnostics has attracted High-Tech Gründerfonds and BBAF Business Angels Fondsgesellschaft as investors.
The company will use the new funding for the further development its web-based car diagnostic system for professional use in car garages. Use of the software will make it possible to dispense with the proprietary diagnostic tests in common use today.
The software is based on client-server technology and is connected to the vehicle via an interface also developed by autoaid. Using the vehicle interface, all relevant diagnostic details, such as error codes, measuring values and vehicle data, are read out and sent to the diagnostic server. The server identifies the component that is defective, and informs the mechanic. Using the autoaid diagnosis software, mechanics can reduce the time taken to diagnose a defective part by 80 per cent.
High-Tech Gründerfonds and BBAF Business Angels Fondsgesellschaft mbH are jointly investing €550,000 in the start-up of autoaid. “We are pleased to have been able to convince two such renowned investors of our business idea. Thanks to the received funds and the first class network of High-Tech Gründerfonds, BBAF and coach providing the backing, we have excellent conditions for converting our business idea into a successful company,” said Moritz Funk, one of the two directors of autoaid.
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