Luminovo offers a SaaS solution to digitize and automate quotation processes for new electronic products. Through the acquisition, the Munich enable new collaboration opportunities within their value chain and work together on a comprehensive software suite for the electronics industry.
"With the acquisition of Electronic Fellows, we are clearly demonstrating our ambition to develop software products that will redefine the way electronic products are designed and manufactured in the future. The electronics industry is now a multi-billion dollar industry with enormous growth potential for years to come. At the same time, its current structure hinders the rapid development of solutions to the greatest challenges of our time. Humanitarian crises, sustainability, and other issues require not just software, but significantly faster hardware innovation cycles."
says Sebastian Schaal, founder of Luminovo.
“The acquisition not only brings us a second ready-to-sell product in our portfolio, but also enables us to share features and insights between Electronic Fellows' product stack and our current core product, Lumiquote, enabling a completely new way of collaboration for all parties involved.”
Luminovo team has almost tripled in size since February
“The acquisition enables us to merge two tech stacks into a unified product suite to immediately make quoting and ordering processes in electronics manufacturing more efficient,”
so Florian Herborn, founder of Electronic Fellows.
"In the long term, connected, data-driven, and efficient processes will support our customers in uncertain times, such as the current chip shortage. Fluctuating demand levels and structural developments such as the shortage of skilled workers will increasingly pose major challenges to global electronics supply chains. Delivery delays for Sony's PlayStation 5, vehicles, and bicycles are already demonstrating the impact of this industry. Our products support companies along the value chain in predicting problems, responding faster and more effectively, and thus managing crises effectively."
Details of the purchase price are not known. The three Electronic Fellows founders Florian Herborn, Nils Minor, and Samuel Leisering will become shareholders of Luminovo. Both offices in Munich and Wiesbaden will remain. Since the last Financing round In February, the Munich-based team grew by 19 employees, almost tripling in size.
