In its first round of financing, Augsburg-based IT and telecommunications startup Conntac GmbH received a high six-figure sum. Investors are Startkapital-Fonds Augsburg, Bayern Kapital, Wayra Germany and a business angel. The round was prepared via the BayStartUP investor network. Conntac offers self-service solutions to telecommunication providers to enable them to resolve customer Internet access faults more quickly. With the fresh capital, Conntac will continue its growth course and drive forward product development in the mobile communications sector.
Conntac – A successful self-service company
Conntac GmbH began in 2017 as a spin-off of a research group at Augsburg University of Applied Sciences and made its breakthrough by positioning itself as a self-service company. Previously, the founding team already worked as a service provider for software, app and web development. “We develop solutions that help customers solve their technical problems related to Internet access independently before personal support becomes necessary,” says Dr. Michael Faath, one of the two managing directors of Conntac GmbH. Intelligent network measurements are combined with comprehensible queries and instructions. In this way, users can help themselves. This relieves the burden on the providers’ service hotlines. With the o2 DSL Help App, Conntac’s first self-service app has been on the market since the beginning of 2018. Within a few weeks, the app has already recorded more than 20,000 downloads.
Investment by Startkapital-Fonds Augsburg GmbH and Bayern Kapital
“We have been following the successful path of Augsburg-based Conntac GmbH for some time. After winning several innovation awards and the advanced product development, we quickly expressed our interest in participating. From our point of view, the idea of a self-explanatory diagnostic software has a great growth potential even beyond the telecommunications market. We wanted to participate in this success, especially since it is an Augsburg company,” says Marcus Wagner of Startkapital-Fonds Augsburg GmbH, explaining the investment.
“Conntac is a good example of the functioning promotion of promising technology-oriented startups in Bavaria. A team of university graduates develops an innovative product, then there is support and coaching through the EXIST startup grant, followed by a successful accelerator program. We invested because we were convinced by Conntac’s product development and initial business success,” explains Dr. Georg Ried, Managing Director at Bayern Kapital.
Involvement of Wayra, the startup accelerator of Telefónica
Wayra, Telefónica’s startup accelerator, has been involved with Conntac since the middle of last year and is also participating in the new financing round. Christian Lindener, CEO of Wayra Germany, says: “Conntac and its o2 DSL help app are excellent examples of our new strategy to integrate new technologies: Startups get access to our group and can optimize their developed product under real conditions. At the same time, this gives Telefónica access to innovative technologies. Both sides benefit from this.”
“Conntac’s solution ideally complements our digital service offering. A call to customer service is no longer necessary in the vast majority of cases. This saves time and increases customer satisfaction,” says Christian Schmidtchen, Head of Digital Assistance & Innovation at Telefónica Deutschland.
Future plans and visions of Conntac
And at Conntac, they are already thinking of many more possibilities: “Our vision is that all people will be able to master complex processes themselves with our help. In the future, we will also work on corresponding solutions in other areas and industries,” says Conntac Managing Director Benjamin Wöhrl.
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded in 1995 as a wholly owned subsidiary of LfA Förderbank Bayern on the initiative of the Bavarian state government. As the venture capital company of the Free State of Bavaria, Bayern Kapital provides equity capital to the founders of innovative high-tech companies and young, innovative technology companies in Bavaria. Bayern Kapital currently manages eleven investment funds with an investment volume of around 325 million euros. To date, Bayern Kapital has invested around 273 million euros of venture capital in around 260 innovative technology-oriented companies from a wide range of sectors, including life sciences, software & IT, materials & new materials, nanotechnology and environmental technology. As a result, more than 5,000 jobs have been permanently created in Bavaria in sustainable companies.
About Wayra Deutschland
Wayra, Telefónica’s startup track, identifies and supports innovative founding teams and young technology companies in growth. Wayra Germany supports startups via a so-called venture client model. Startups can use Wayra to acquire one of the world’s largest technology companies as a customer, implement a paid technology project, gain access to a 47-million-strong customer base, develop operational excellence by working closely with business units, and benefit from a global mentor and technology network. In addition, Wayra helps with funding as well as coaching, provides office space to the startups and organizes networking events. Wayra targets its offerings to young, growing technology companies in the Internet of Things (IoT), data analytics, cybersecurity and artificial intelligence (AI) sectors. Wayra Germany was founded in 2012 and has an impressive track record in advancing its approximately 40 funded startups to date. Most recently, automotive supplier Continental acquired Wayra startup Parkpocket, which offers a data-based service in off-street parking. Wayra is a global initiative with locations in ten countries – Spain, the UK and Germany in Europe, as well as Chile, Brazil and five other South American countries.
Website of the O2 DSL Hilfe App