Momemtum advises the Deep Tech-Start-up Persival on its successful Seed Round of Financing
Frankfurt/Main, 11.12.2024: The transaction-focused law firm Momentum provided comprehensive legal advice to the deep tech startup Persival, a pioneer in sensor simulations for autonomous driving components, during its successful seed financing round led by BMH as the lead investor, along with a number of notable business angels. The capital will be used to implement growth strategies and expand the software portfolio. The business angels include experienced industry experts and successful founders such as Marius Dupuis (formerly of VIRES Simulationstechnologie), Robin Schubert, Eric Richter, and Holger Löbel (formerly of Baselabs), as well as David Kelm and Yannic Ambach (formerly of IT-Seal).
Persival’s unique selling proposition is the integration of its own data analysis and validation software into model development, based on years of research and measurement solutions for material and sensor properties. This ensures that the simulated data reliably represent realistic conditions such as wet roads or poor visibility. A major German OEM was among the first customers, and today, numerous leading OEMs and suppliers rely on the startup’s solutions.
The company focuses on simulating sensor data to accurately depict real-world environments—such as traffic conditions. Customers can conduct safety-relevant tests using these simulation models, for example, object recognition of vehicles under varying weather conditions. Therefore, the synthetic sensor data are used in the development and testing of assisted and autonomous driving functions, predominantly in the automotive industry, but also in other areas such as agriculture, rail transport, and robotics. The sensor models complement and replace expensive data collection on test sites and in real-world traffic.
Persival GmbH was founded in 2021 as a spin-off from the Technical University of Darmstadt by Dr. Philipp Rosenberger and Dr. Clemens Linnhoff. The team now consists of 14 highly qualified employees, including five with PhDs, from fields such as programming, physics, 3D design, and engineering. With the fresh capital, Persival plans to expand its software licensing business and further develop solutions in the areas of reflection properties, radar simulation, and model validation.
Dr. Philipp Rosenberger, founder and CEO of Persival, states: “We are very pleased with this successful financing round, which not only brings us capital but also valuable know-how and experience. With BMH and the business angels, we have gained strong partners who support us in building a scalable business model. Our goal is to make synthetic sensor data a realistic development and testing tool, thereby making the development of automated vehicles more efficient and cost-effective.”
Christoph Wolf from BMH adds: “The expertise of the founders and the innovative technology of Persival have convinced us from the very beginning. Given the growing demand for automated systems, there is also an increasing need for reliable sensor models and their validation. The multitude of critical scenarios that need to be tested in the future simply cannot be managed without such simulation models. Persival has enormous potential here, and we look forward to supporting the team on this promising path.”
About BMH:
The BMH Beteiligungs-Managementgesellschaft Hessen mbH, based in Wiesbaden, was founded in 2001 and is a 100% subsidiary of the Landesbank Hessen-Thüringen Girozentrale (Helaba). Through the Wirtschafts- und Infrastrukturbank Hessen (WIBank), BMH is actively involved in the economic promotion of the state of Hessen. As a medium-sized investment and venture capital company, BMH consolidates public investment interests and financing instruments for early-stage, growth, and medium-sized companies in Hessen. BMH currently manages six investment funds with a volume of over 200 million euros. Since its founding, BMH has invested in more than 500 companies. Investment focuses include sectors such as Software/Analytics, Fintech/Insurtech, Life Sciences, Deep Tech, IoT/IndustrialTech, Hardware/Industrial Goods, and Cleantech.
About Momentum:
Momentum provides efficient, proactive, and pragmatic advice in the areas of M&A, private equity, venture capital, corporate law, and tax law. As entrepreneurial-minded lawyers, we understand our clients and their specific needs and help them successfully complete transactions. Our strong national and international partner network enables us to offer comprehensive transaction advice.
Deal Team Momentum:
Philipp Weber, Partner (Venture Capital, Private Equity)
Thomas Hartmann, Associate (Venture Capital, Corporate, Commercial)
Contact:
Philipp Weber, Partner
Momentum Attorneys and Tax Advisors
Eschersheimer Landstr. 14
60322 Frankfurt am Main
Email: weber@momentum-partner.de
Phone: +49 (0) 171 91 00 765
