LOCANIS AG raises DM6m in second round

Investee Company – LOCANIS AG (Germany)

Investee Company Business Type – Develops logistics automation systems

Type of Financing – Early stage

Equity Providers – Target Partners, Smart.IPO

Equity Leader (Individual) – Waldemar Jantz, Target Partners

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – DM6 million

Total Deal Value – DM6 million

Other Advisors – PricewaterhouseCoopers, SJ Berwin, Poellath + Partner (P+P)

Comments – LOCANIS AG, a German company offering integrated warehouse automation systems, has today announced a DM6 million second round of financing. Munich-based Target Partners led the round with DM5 million to which existing investor Smart.IPO added a further DM1 million as co-investor.

The company provides integrated warehouse automation systems, ranging from solutions for warehouse management and automation of logistics tracking to the control of high-bay warehouses.

LOCANIS has utilised its ‘G-TRACK’ product to implement a fully automated product tracking system inside enclosed warehouses, consequently solving a fundamental logistical concern in that satellite-supported GPS systems cannot be used inside enclosed warehouses.

An initial funding round of DM4.5 million was led by Smart.IPO in the first quarter of 2001. The latest round will enable the company to market its products worldwide and attempt to breach new ground in the field of logistics.

Waldemar Jantz, a partner at Target Partners, said: “Now that the e-commerce wave has subsided, we are finding companies with some very realistic, innovative products which offer practical solutions to major problems.”