Germany-based smart luggage producer Horizn Studios has received €10m ($11.4m) in series B funding from investors including Vorwerk Ventures, the corporate venturing subsidiary of direct selling company Vorwerk, EU-Startups has reported.
Venture capital firm Project A and venture growth firm Milano Investment Partners also contributed to the round, which EU-Startups said increased the company’s overall funding to €25m.
Founded in 2015, Horizn Studios designs and sells suitcases, backpacks, briefcases and bags that include smart features such as battery charging ports and GPS tracking systems, as well as accessories like passport holders, shoes holders, wallets, wash bags and laptop bags.
Stefan Holwe, Horizn’s founder and chief executive, told EU-Startups: “We look forward to this strong round with a well-known circle of investors, and to the overwhelming response from our customers.
“Both show us that our products hit the nerve of the time. This encourages us to develop more innovative products and services for the next generation of travellers.”
Horizn raised several million dollars from investors including VC firm U-Start in a 2016 series A round that followed a 2015 seed round of undisclosed size featuring Vorwerk Ventures, Project A and various angel investors.
Investment firm Perpetual Ventures subsequently led a $14.6m series A round for the company in January 2018 that included Vorwerk Ventures, U-Start, Project A and Monkfish Equity, according to Unquote.