Onboarding Eight Renowned Business Angels
February 18, 2021
We’re incredibly proud to announce that eight new and impactful business angels have joined Luminovo’s journey to revamp the electronics industry.
We’re incredibly proud to announce that eight new and impactful business angels are joining Luminovo’s journey to revamp the electronics industry. Each of them brings both unique experiences and networks to support us in building the leading electronics operating system and in strengthening our market position.
With them on board, for now, they complete a stronger crew than we could have imagined to take this ship into open waters with us. Since spring 2020, we also have the two great early-stage venture capitalists Cherry Ventures and La Famiglia on our side, as well as business angel Hanno Renner (CEO and founder of Personio) and Sebastian Schoun (Founder of Alasco and Stylight) who’s been supporting us from day one.
Who is joining and why?
Since you’re probably over-excited to find out who these renowned people are we’re introducing with such enthusiasm, now this is them – a meaningful mix of SaaS professionals, as well as industry experts, such as Daniel Dines (Founder and CEO of UiPath), Charles Songhurst (former head of strategy at Microsoft), enterprise software entrepreneur Carsten Thoma (co-founder of Hybris, sold to SAP), Jan Stumpf (Founder of Ascending Technologies, sold to Intel), Silicon Valley business angel Jack Fuchs (lecturer at Stanford University), Michael Wax (founder and CEO at Forto, previously Freighthub), Norman Weiss (entrepreneur and founder of MittelstandsCampus), and Hamed El-Abd (member of the board at WKK Technology).
When we asked Jan Stumpf what made him invest he answered: “Having developed electronics from prototype to a market-ready product at Ascending Technologies and Intel, the vision of Luminovo, which solves a real customer challenge, instantly caught my interest.” Also, Carsten Thoma gave us a statement about what makes Luminovo special to him: “They are delivering a solution where horizontal enterprise software products alone cannot unlock the value needed to move the electronics industry forward. Their approach to representing complex processes involving multiple stakeholders all in one collaborative and modern tool can really make a difference.”
Where do we want to go together?
Between our successful pre-seed funding round in spring 2020 that brought us investments of over two Million Euro and the new business angels joining early this year, we have not just been floating around. We expanded our team to over 20 talented Luminerds, won renowned development partners, and achieved early revenues on a pre-launch stage. Fast-forward to now, we recently had our private beta-launch of LumiQuote, the next generation EMS RfQ software, with selected customers and managed to grow our customer portfolio adding early adopters to the list. On the way to our Series A, we’re now focused on demonstrating product-market fit and we’re looking forward to working towards this together with our new business angels.
A few words from our founders themselves about the new joiners – Timon Ruban: “We are incredibly happy to have convinced these eight renowned business angels to take part in our journey. Each of them fits our mission in a unique way and can help us with their industry experience or a specialist network to develop the complete electronics operating system after getting LumiQuote off the ground.” Sebastian Schaal adds: “Specifically the business angels’ variety of expertise is what we see as a great advantage for our product shaping, market positioning and market entry.”
Focus on getting our software off the ground
With this extended circle of investors, we are determined to continue building a strong European deep-tech company made in Germany by building the fundamental data and software layer – the electronics operating system – taking on core processes and integrating them with other best of breed tools to form the future software stack in electronics. Just a few weeks ago, we privately beta-launched the first version of Luminovo's solution LumiQuote that addresses the major challenges of quotation and sourcing management in the Electronic Manufacturing Services (EMS) space. We couldn’t be happier about the uptake that it has found already and we will keep working on accelerating its success in the near future.
While the investor department of our crew has just received important additions, we're still scouting for a couple of leading roles on deck, namely a Senior Product Manager, a Junior Marketing Manager, and a Sales Representative. We believe that only with an outstanding team can we build the foundation for an impactful company. So, if you have been looking for a sign to apply at a young start-up with large ambitions, this is it. Take a look at our open roles here.