PE International, a sustainability software and consulting company, has received a EUR10 million growth investment from the venture capital unit of Siemens and Gimv, a publicly traded private equity firm.
The financing will support the company’s further expansion along with increased product research and development.
The company has appointed Friedrich Fröschl to its board of directors. Fröschl, a former member of the executive board of Siemens AG, is general partner and president of HiTech Invest Munich/New York, an advisory for private equity companies and corporations in the technology sector.
“We welcome Dr. Fröschl to our board of directors and look forward to working with him during this exciting time in our company’s history,” says Christoph Wilfert, chief executive of PE International. “I am also very pleased with the investment which will help accelerate growth, drive the development of our products and maintain excellence in customer service and support.”
“We invested in PE International because it represents a wonderful opportunity to work with a seasoned company that is leading the way in a rapidly growing market,” says Ralf Schnell, chief executive of the venture capital unit of Siemens.
