Investment
SCHAD GmbH of Hamburg, Germany, raised an undisclosed sum from High-Tech Gründerfonds to develop and commercialise Extend 7000, a system for providing mobile and direct access to industrial programmable logic controllers on public mobile networks via BlackBerry devices.
The technology makes it possible to operate all plant functions without being in the control room. Status reports or malfunction notifications can be received wirelessly.
The company says that in particular companies with complex production cycles, for example, in food and beverage, pharma, automotive, cement, chemical, paint, and oil and gas, will benefit from its technology.
The size of the investment was not disclosed. Christian Schad, Founder and CEO of SCHAD said, “With financing from High-Tech Gründerfonds start-ups like ours have the chance to develop marketable technologies. To date we have completed numerous pilot projects in different industries, and we recruited a number of international sales partners.”
High Tech Gründerfonds was established by the German government in 2005 to bridge the gap in early stage financing.
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