On August 6, 2015, fayteq AG obtained a capital increase to finance further growth and internationalization. In addition to the existing investors, a consortium under the leadership of Dr. Cornelius Boersch was incorporated into the circle of shareholders. The funding amount and conditions have not been disclosed.
“The purpose of this capital increase is to finance the continued growth of fayteq AG and, in particular, to accelerate the development and marketing of our products and technology. fayteq is a pioneer in real-time video modification technology and the market benchmark in the field of object removal. We thank our new and existing shareholders for the trust placed in us,” said André Münnich, CEO of fayteq AG.
“fayteq’s successful path – from a spin-off of the Technical University of Ilmenau to an internationally recognized technology provider with a highly interesting patent and customer portfolio – has convinced us to scale up our financial commitment,” added Stephan Beier, Investment Manager at the Erfurt-based bm|t, which has been invested in the company since 2013.
“I believe that the fayteq team will be able to successfully roll out their technology globally,” said Dr. Cornelius Boersch about his investment decision.
About fayteq AG
fayteq is a specialist in software solutions for real-time video modification, video inpainting and camera/object tracking for authentic integration and removal of objects in videos. fayteq’s Diminished Reality technology enables the smooth removal of objects from video streams. “We see the greatest potential in the areas of film and television post-production as well as individualized virtual advertising,” says CEO André Münnich. With fayteq technology, mistakes that are apparent in video, such as visible microphones, can be removed; desired objects, such as logos on football jerseys, can be integrated.
fayteq AG is headquartered in KinderMedienZentrum in Erfurt. It was founded in August 2011 as a spin-off from the Technical University of Ilmenau. The company currently employs 10 employees and is continuing to grow.
Contact: André Münnich, CEO, Tel.: +49 361 3494 8252-0
bm|t (beteiligungsmanagement thüringen GmbH) is a subsidiary of the Thuringia Development Bank and the premier partner for investments in Thuringia. bm|t currently administers six funds with a total volume of around €250 million. bm|t invests in innovative companies from all high-yield sectors and in all stages of a company’s life cycle, from start-up to IPO or MBO.
Contact: Stephan Beier, Investment Manager, Tel.: +49 361 74 47 607
About Dr. Cornelius Boersch
“Conny” Boersch is the founder of Mountain Partners. He has been an entrepreneur since 1990 and is the founder of ACG AG, a leader in the RFID segment. In 1999, he achieved a successful IPO of ACG AG on the Frankfurt Stock Exchange. Conny Boersch supports, among other things, the development and IPOs of technology companies, such as Smartrac and Identiv. Smartrac debuted on the Frankfurt Stock Exchange in 2006, and Identiv has been listed on NASDAQ since 2010. Conny Boersch is currently one of the most active business angels in Europe. In 2009, he was elected “European Business Angel of the Year”. He studied at the European Business School in Oestrich-Winkel and has a doctorate from the University of Duisburg-Essen.