In a significant development for the European startup ecosystem, Dutch venture capital firm Capital Mills has announced its inaugural investment in a German company, leading a €2 million funding round for no-code startup Innoloft. The investment aims to fuel product development acceleration and facilitate the expansion of Innoloft’s user base.
Empowering Businesses with No-Code Solutions
Founded in 2019, Innoloft has carved a niche for itself with its innovative no-code platform, empowering businesses to develop web applications without the need for programming expertise. This democratization of app development has garnered significant traction, with Innoloft boasting over 70,000 end-users and securing partnerships with prominent entities such as Deutsche Telekom, Aachen University, and various German state governments.
Accelerating Growth with Capital Mills
Capital Mills’ decision to invest in Innoloft aligns seamlessly with its investment focus on B2B software companies. The venture capital firm, known for its flexible funding approach encompassing revenue-based financing and equity investments, views Innoloft’s no-code platform as a promising avenue for capturing a rapidly expanding market.
A Strategic Move in the No-Code Movement
With over 60 investors backing its initiatives, Capital Mills has cultivated a robust portfolio comprising 19 companies, including notable entities like Convious and Mopinion. By venturing into the no-code space through its investment in Innoloft, Capital Mills demonstrates its commitment to tapping into emerging trends and disruptive technologies shaping the future of business operations.
Seizing Opportunities in a Growing Market
Barry de Kock, Investment Manager at Capital Mills, emphasizes the potential of Innoloft’s no-code solution to cater to the evolving needs of businesses seeking streamlined app development processes. With an eye on capturing an ever-expanding market, Capital Mills views Innoloft as a strategic investment poised for exponential growth.
The partnership between Capital Mills and Innoloft heralds a new chapter in the evolution of the European startup ecosystem, spotlighting the burgeoning potential of no-code solutions in driving innovation and efficiency. As Innoloft leverages the new funding to accelerate its product development endeavors and expand its user base, the collaboration underscores the transformative impact of strategic investments in pioneering technologies.
