Furo, a startup developing software for industrial battery storage, has raised $4 million in a funding round led by TQ Ventures. Other participants included Neo, Sandberg Bernthal Venture Partners, and the Munich-based Center for Digital Technology and Management.
Founded by Lena Sophia Voß, Leonie Wagner, and Simon Wittner, the company operates as a Delaware C Corp while maintaining its primary operations in Germany. The founders previously worked at companies including Apple and Google X before returning to Munich.
The startup has secured enterprise clients, including the German rail operator Deutsche Bahn, within its first year of operation. The founders noted that proximity to European customers and technical universities has been critical for their growth and hiring processes.
The team highlighted that engineering talent in Germany is more cost-effective compared to the United States. Furthermore, the founders stated that the local network in Munich provides easier access to mentorship and operational expertise compared to their previous experience in the Bay Area.
