The Munich based startup ProGlove has been acquired by Nordic Capital
Munich, Germany—May 11th, 2022
“Their well-defined patent strategy has clearly paid off, and it definitely sets them at the top. We’re proud to have been part of the company’s success in the international market.” – Said Bastian July, GoodIP Co-founder and CEO.
ProGlove, a German startup that makes wearable barcode scanners, has partnered with Nordic Capital. The company plans to use this partnership to expand internationally, with a focus on new and unexplored markets.
ProGlove is a rapidly growing technology leader that was founded in 2014. It has headquarters in Munich, Chicago, and Belgrade, and serves numerous customers in retail and e-commerce, logistics and warehousing, manufacturing and automotive across more than 30 countries. The technology has been adopted by a number of major companies, including DHL, Mercedes Benz, Volkswagen, and BMW.
Nordic Capital is a private equity firm that focuses on investments in the Nordics and Baltics. The firm has a long history of investing in technology companies and has been an active investor in the wearables space. Nordic Capital has also invested in companies such as Board international, an all-in-one decision-making platform, and Advanz Pharma a pharmaceutical company.
While ProGlove’s success can be attributed to its outstanding sales and marketing plans, the fact that it has a diversified patent portfolio and a strong focus on a well-defined intellectual property strategy has definitely put it ahead of the pack.
“ProGlove has focused on protecting key elements of their current and future USP- which definitely is unique in the whole industrial IoT market. Their outstanding IP protection gives ProGlove a strong position in this fast-growing market.” -Sebastian Hugl, GoodIP Founder & COO.
“IP can be a very valuable asset in demonstrating leadership in a fast-growing market. That’s why at GoodIP, we’re best placed to help startups from the start to build IP protection that makes a difference in the end.” -Remarked Bastian July, GoodIP Co-founder and CEO.