Compositence, a Germany-based manufacturer of carbon and glass fibres, has raised an undisclosed amount from Zukunftsfonds Heilbronn as a new lead investor; the holding company Mittelständische Beteiligungsgesellschaft Baden-Württemberg (MGB) and state and corporate-backed early-stage investment firm High-Tech Gründerfonds (HTGF).
Compositence raised its seed round in June 2011.
Separately, HTGF has backed software company Ondeso, Smart Hydro Power, which focuses on small-scale river hydro technology, and CryoTherapeutics, a German developer of a cryotherapy system for use in the treatment of coronary artery disease.
Smart Hydro also raised funds from ECapital Entrepreneurial Partners, while CryoTherapeutics’ €3m ($4m) A round consortium included Peppermint Venture Partners.