TU Munich's wind farm IoT spinout Fos4X has been acquired by PolyTech, providing an exit tothe university's venture capital affiliate UVC Partners.

Fos4X, a Germany-based wind farm optimisation technology spinout of TU Munich (TUM), was acquired by wind turbine production and services firm PolyTech for an undisclosed sum on Tuesday. Founded in 2010, Fos4X markets internet-enabled sensors that can be affixed to wind turbines to evaluate their aerodynamic profile and inform data analytics-based forecasts calculated through the company’s software. The technology is expected to support PolyTech as it looks to add digital and data analysis tools to its wind turbine products. Unternehmertum Venture Capital (UVC) Partners, the venture capital affiliate of TUM tech transfer office Unternehmertum, helped close Fos4X’s $10m series B round in mid-2018. The round was also backed by energy firm Equinor, public-private partnership High-Tech Gründerfonds (HTGF) and Bayer Kapital, the VC arm of Bavarian state-owned funding agency LfA Förderbank, along with family office Falk Strascheg Holding and angel syndicate Business Angels. The funding followed a $2.4m round also branded a series B in 2015 led by Falk Strascheg with support from UVC Partners, Bayern Kapital and Schulze Consulting, the last three of which had joined HTGF for a round of undisclosed size in 2013. Ingo Potthof, managing partner of UVC Partners, said: “It has been a great experience to accompany Fos4X as investor from R&D stage up to today, as the company has built a global business and became a category leader with further strong growth perspectives.”

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