Furo raises $4 million and signs Deutsche Bahn for industrial battery storage software
Image: Primary Furo, a Munich-based startup founded a year ago, has raised $4 million from mostly U.S. backers and signed enterprise clients including German rail operator Deutsche Bahn, TechCrunch reported.
The round was led by U.S.-based TQ Ventures with participation from Neo, Sandberg Bernthal Venture Partners, and Munich's Center for Digital Technology and Management. Furo builds software for industrial battery storage systems aimed at helping industrial companies cut electricity costs. Its three co-founders, all 28, left Silicon Valley and returned to Germany, saying proximity to customers, technical universities, and a denser network sped up commercial progress.
The company remains a Delaware C Corp and returns to the U.S. several times a year for investor meetings.
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