Orbem, a Munich, Germany-based deep technology company, has raised €30 million in Series A funding.
SaaS Investors
The round was led by 83North, with participation from La Famiglia, The Venture Collective, Possible Ventures, Dr. Rüdiger Schmidt, and prominent German entrepreneurs, including Personio co-founders Hanno Renner, Roman Schumacher and Chief Operating Officer Jonas Rieke, former Zalando CEO Rubin Ritter, Forto co-founders Michael Wax, Erik Muttersbach and Chief Operating Officer Dr. Michael Ardelt, Kinexon co-founders Dr. Alexander Hüttenbrink and Dr. Oliver Trinchera, and Bastian Nominacher, Co-CEO and Co-Founder of Celonis.
Founded in 2006, 83North is a global venture capital firm with more than $2B under management that invests in European and Israeli entrepreneurs creating global businesses. The firm seeks to invest in information technology, business products, business services, consumer products, and consumer services sectors.
Orbem Use of Funds
The company will allocate the funds to fulfill its mission of deploying AI-powered imaging to address global food security, accelerate the transition to a green economy, and transform disease detection.
About Orbem
Orbem is a deeptech startup working on AI-powered sensor technology. The company combines accelerated MRI (Magnetic Resonance Imaging) with AI technology to scan, classify, and sort eggs, nuts, seeds, plants, and more. The company's AI-powered MRI technology can scan various biological samples, including food products, plant species, construction materials, and human bodies. Orbem's AI technology has applications in agriculture, construction, and healthcare. Founded in 2019 as a spin-off of the Technical University of Munich and is headquartered in Munich.
Funding Details
Company: Orbem GmbH
Raised: €30.0M
Round: Series A
Funding Month: October 2023
Lead Investors: 83North
Additional Investors: La Famiglia, The Venture Collective, Possible Ventures, Dr. Rüdiger Schmidt, Hanno Renner, Roman Schumacher, Jonas Rieke, Rubin Ritter, Michael Wax, Erik Muttersbach, Dr. Michael Ardelt, Dr. Alexander Hüttenbrink, Dr. Oliver Trinchera, and Bastian Nominacher
Company Website: https://orbem.ai/
Software Category: AI-powered Imaging
Source: https://medium.com/@Orbem/orbem-has-successfully-closed-a-30-eur-million-series-a-funding-round-8f754f4746f6