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Million investment for the future of autonomous vehicles

The Technologiegründerfonds Sachsen and the GPS Ventures GmbH invest two million euros in the Chemnitz University start-up NAVENTIK GmbH

As autonomous driving progresses, there will be an increasing need for high-precision localization solutions in the coming years. The NAVENTIK GmbH, which was founded in January 2017 from Chemnitz University of Technology, has developed a software-based technology for the satellite navigation-based localization of vehicles. The Technologiegründerfonds Sachsen and GPS Ventures GmbH are now investing two million euros in the young company.

To perform increasingly safety-critical driving maneuvers, driver assistance systems require precise, robust and permanently available self-localization. Satellite navigation will play a central role in the future. However, currently available hardware solutions are too inaccurate, especially in urban areas, as functional safety cannot be guaranteed. NAVENTIK has created a solution that ensures a safety-critical level for semi-autonomous or autonomous driving in real-time exchange with other sensor systems in the vehicle.

 The so-called PATHFINDER technology was developed by the founding team through more than six years of research at the TU Chemnitz. In addition to initial funding through the federal funding program "EXIST Transfer of Research", it was also coached by the Gründernetzwerk SAXEED. The first awards underline that this highly innovative start-up project is on the road to success: in addition to winning the grand prize in the "Founders' Contest - Digital Innovations", NAVENTIK 2017 was selected for participation in the "Accelerator Program" of DB Digital Ventures and Plug and Play. In addition, cooperations with Volkswagen, Nvidia, Deutsche Bahn and IAV confirm the outstanding technology of the company, which was spun off from the TU. With the new capital of Technologiegründerfonds Sachsen and GPS Ventures GmbH, NAVENTIK intends to promote the expansion of worldwide sales activities and partner relationships as well as further staffing.

Background: Successful reasons at the TU Chemnitz

According to "Gründungsradar 2016", the Chemnitz University of Technology is the best start-up university and also the number one in spin-offs among all state universities in Saxony. It is also one of the top 10 founding universities among Germany's medium-sized universities. This is the result of a study by the Stifterverband für die Deutsche Wissenschaft in cooperation with the Heinz Nixdorf Foundation, which was commissioned by the Federal Ministry for Economic Affairs and Energy.

Contact to the Gründernetzwerk SAXEED: http://www.saxeed.net

(Translation: Alissa Hölzel)

Matthias Fejes
01.03.2018

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