WSS Redpoint advises the industrial tech startup mecorad on seed financing by Fraunhofer Technologie-Transfer Fonds GmbH (FTTF).

Founded by Marc Banaszak, Andreas Heutz and Cagdas Ünlüer, the B2B company offers in-line measurement and AI-based optimisation for the hot forming of metals. In doing so, it helps operators of steel mills and hot rolling mills to achieve higher product quality, reduce losses in production value and connect production all the way through to the end customer.

FTTF is the financing partner for young high-tech companies of the Fraunhofer-Gesellschaft and supports startups from the pre-seed stage onwards. FTTF also supports young entrepreneurs with its extensive experience of company formation and a broad network of investors.

The capital from the current financing round will be used to expand mecorad’s sites in Chemnitz and Cologne.

WSS Redpoint has advised mecorad on legal matters since its formation in 2018. Peter Siedlatzek advised on the current financing round on behalf of WSS Redpoint.