Evologic

The Austrian biotech company Evologic Technologies GmbH, an alumnus from our first Acceleration Program, successfully closed a financing round of € 2.5 million, thanks, not least, to the participation of RWA. The financing will enable the company to implement its ambitious growth plans, which include the further establishment and expansion of its production and development site for biostimulants and biopesticides in Vienna Liesing.

The company, which was spun off from the Institute of Process Engineering at Vienna University of Technology in 2016, employs 18 people at the Vienna site. Its goal is to reduce the use of synthetic chemical products in agriculture and replace these with biological products.

“We recognised the potential of Evologic’s novel approach early on and are pleased that this has been realised in recent years,” explains Armin Sterlé, Head of RWA Invest. “The additional funding will enable Evologic to achieve industrially relevant production volumes. Hence, it will be able to both offer in-house products and act as a contract manufacturer for major customers.”

BartsParts

The Dutch company BartsParts, which participated in our Acceleration Program in 2017, is a web store for slow-moving spare parts in the field of agricultural and garden technology. The platform aggregates decentrally stored spare parts in a networked digital spare parts warehouse and distributes these to buyers all over the world. Local spare parts stores can thus utilise their old stock, while customers can purchase a wide range of spare parts at a large discount. BartsParts has also seen considerable change: A new CEO, Michiel Nijhuis, has been brought on board and a new financing round has also been concluded, with existing investors, including RWA, being joined by a new investor, Raiffeisen Waren Zentrale Rhein-Main. Total financing of € 800,000 was raised. This is a great step forward for the further expansion of BartsParts’ activities.

We are delighted by the positive developments – and the common path – shared by both companies.