Dennemeyer Octimine
Dennemeyer Octimine

octimine technologies receives seven-digit financing from business angels and Bayern Kapital

Constantin BahlmannConstantin Bahlmann

Landshut/Munich, June 08. 2017.

Bayern Kapital and several business angels invest a seven-digit amount in the Munich start-up octimine technologies GmbH which was founded in 2015. The investors thus support digitization in the area of technology research and knowledge management. The start-up and its founders, Matthias Poetzl, Michael Natterer and Dietmar Harhoff, want to use the capital to develop octimine technologies into a leading provider of data mining services for technical documents, such as patents, in Germany and beyond.

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As a spin-out of LMU Munich and the Max Planck Institute for Innovation and Competition, octimine technologies has developed a novel system of algorithms for patent research and analysis based on topic modeling, clustering and machine learning. Search and analysis of technical information become much more precise, comprehensive and faster for users of the octimine technologies systems. Relevant technical information is made available to users at low cost and with high precision. An easy-to-use interface reduces complexity and simplifies knowledge management, even for novices in the field.

octimine technologies GmbH has recently extended its services considerably. In July of 2016, the start-up implemented a Freemium strategy which allowed users to utilize some of its services for free. Users will soon be allowed to employ the newly developed “Monitoring” services. It automates the monitoring of intellectual property and addresses the needs of small and medium-sized companies. octimine technologies GmbH will also expand the coverage of other data sources and types. Recently, the start-up started to offer users new search and analysis options for patent citation data.

octimine technologies addresses the needs of technology-based enterprises, patent law firms, research institutions, inventors and investors. Among the 15.000 users of octimine services are leading organizations such as Siemens AG, the Fraunhofer Society, and Harvard University. Patent experts who have tested the octimine software system extensively emphasize its speed and precision.

“The innovative technological approach and the high value for users convinced us very early that octimine technologies GmbH is on a successful path“, said Roman Huber, CEO of Bayern Kapital GmbH. “We are delighted to support the development of this promising start-up together with a consortium of experienced and prominent business angels.“

About Bayern Kapital:

Bayern Kapital GmbH, based in Landshut, was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank. As the venture capital organization of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria.

Presently Bayern Kapital manages eleven investment funds with a total volume of around €340m. So far, it has invested almost €246m in more than 250 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology.

In this way, more than 5,000 long-term jobs in sustainable companies have been created in Bavaria.

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