Wednesday, August 24, 2016

The development of their technology drove these founders almost into bankruptcy –

Fedger founder Claudio Huyskens and Benedict Knobloch

As Claudio Huyskens and Benedict Knobloch for the first time jointly founded, it went wrong. The two friends from university made in 2009 on their own. At that time they were working on automated trading strategies for the stock market. But customers did not materialize. “After the financial crisis of confidence in new products was simply no longer exists,” said Knobloch against Gründerszene.

started the two founders, to be interested in the startup scene. To collect a lot of information on the net as possible, they used the algorithms from its financial days. “We started with data for startups because we ourselves were in search of information about the scene. But there was no adequate overview, “says Knobloch. The idea for Fedger arose.

Why did it take so long?

In the next three years Knobloch and Huyskens expanded their solution through machine learning data to read and interpret for companies. Here the data from structured and unstructured sources such as news articles from the network are collected. Using self-learning algorithms, this data is extracted, structured and put in context.

Here Knobloch and his team rely on artificial neural networks, a method from the field of machine learning. These networks are similar to the human brain, such as learning the new compounds and to recognize contexts. “There have been many improvements, so we can process the large amounts of data, as we do now,” Knobloch explains the long development phase.

What is the restaurant most often ordered?

data service is primarily aimed at companies that can access the information via interfaces. The first major customer is the retailer Metro. With the intelligent data search can be filtered out about which courts are being ordered most frequently in restaurants. This record is interesting about for grocers. For companies located could be created to find out when and how much money was collected. It is moving in the collection of data, of course, within the legal framework emphasizes Knobloch. “We only freely available on the net data.”

To store the data, the now six-member team use the cloud services from Google and Amazon. Both approaches had won the Startup under startup competitions. Was given further support the team through the Exist Program of the Federal Ministry of Economics in 2013.

Now to the second round of financing ago

Before Knobloch and his co-founder and 2014 financial support from business angels entrepreneurs Alexander Marten got, the two friends put much own money into the startup says Knobloch. “We have the company itself akimbo until we were on the verge of personal bankruptcy.” In the meantime could Fedger have a positive cash flow, sales for this year will be at half a million euros. Even from the outside now want more money ago: This year Fedger should retract its second financing

An insight into the product of Fedger:.

image: Fedger

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