HomeFundingIcon group launches €25.3 million venture fund for startups that reinvent traditional...

Icon group launches €25.3 million venture fund for startups that reinvent traditional businesses

Today icon group has announced the reorganization of the company into icon group, a global innovation group offering full-service innovation from idea to scale, which will include a 25.3 million ($30 million) venture capital fund. The investment thesis is built around the company’s deep expertise in innovative technology, design, and sustainability and will focus on funding startups that enable traditional companies to reinvent their business models and the way they reach their consumers.

icon group was founded in 2003 and is headquartered in Berlin, with offices in Munich, Ingolstadt, Los Angeles, Detroit, and Shanghai. The reorganization categorizes icon group into two separate entities including: icon ventures, a venture capital fund that invests in the companies and technologies that enable positive impact and the creation of new experiences that previously weren’t possible; and icon impact, the continuation of iconmobile’s well-established product and experience innovation arm that combines business design and engineering expertise to offer full-service support from idea to scale.

The new venture capital fund is a culmination of decades of experience, bringing the work icon group has done full circle. It will enable the group to invest in technologies and products that support evolving business models and drive innovation for the clients the group serves. To date, all portfolio companies under icon ventures are generating revenue.

“Whether it’s creating the first connected toothbrush for Oral-B or UX/UI design for the world’s leading automotive brands, icon group works to bring innovation from idea to scale. Simply put, we imagine a better future, and then we build it,” commented Thomas Fellger, Founder of icon group. “Now, with the inclusion of a venture fund, we can create the things we believe in without waiting for permission or additional budget allocations by investing in opportunities where we have deep knowledge and proven impact, something that sets us apart from the big five firms. With decades of experience under our belt, we are ingrained in the industries we work in and know what works, what still needs to be done, and how we can play a role in transforming that industry.”  

The new venture capital fund is specifically looking for startups that have the power to reinvent traditional business across a range of sectors: from beauty, to automotive, fashion, energy, and everything in between. Thomas Fellger, Founder, explained further:“We have gathered so many insights from our client work in beauty, automotive, fashion, and energy, among others, that we feel confident in our understanding of what these industries need to become future proof. As everything becomes more interconnected and user-centric, the need for ecosystems which augment and enhance our clients’ core products and services are more necessary than ever. We will focus on industries which we consider ‘home turf’, investing in technologies and companies that will add value to those ecosystems.”

Charlotte Tucker
Charlotte Tucker
Charlotte is the previous Editor at EU-Startups.com. She spends her time scouting the next big story, managing our contributor team, and getting excited about social impact ventures. She has previously worked as a Communications Consultant for number of European Commission funded startup projects.

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