wetransform: New Investment and Our Plans for 2021
As for many of you, 2020 wasn’t exactly easy for the team at wetransform. It would have been a challenging year even without COVID-19, given the big INSPIRE deadline in October.
In the end, the hard work and resilience paid off though: We were able to help make more than 20.000 data sets compliant with INSPIRE metadata, service, and data specifications. We almost doubled the number of customers, increased the number of user organisations by more than 180%, increased the data volume on our platform by 600%, and also doubled our annualized recurring revenue.
With this background and with the goal to enable further growth and the execution of important strategic initiatives, we decided to discuss a potential funding round with investors. As a result, we are very happy to welcome CADFEM International AG as a new investor and shareholder at Wetransform. CADFEM International AG is the international branch of CADFEM, one of the leading providers of industrial simulation solutions worldwide. CADFEM has made more than 25 investments in start-ups in various stages.
CADFEM has invested in this round together with the HTGF, Germany’s leading early-stage venture fund.
Here are some of the key initiatives that we will now execute:
- Help customers to retain optimal digital sovereignty by making hale connect compatible with GAIA-X
- Found and build up an Environmental Data Spaces community under the IDSA
- Implement ecosystem Data Spaces, e.g. for forestry, as part of the FutureForest project
For now, we are looking forward to work together with all of you and with our shareholders to make sure that spatial and environmental data become more accessible, useable, and useful, and really contribute to us becoming a more sustainable society!