# ProGlove

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/proglove

- Industry: Hardware
- Headquarters: Munich, Germany
- Website: www.proglove.de
- Total disclosed funding: $8.9M
- Latest round: Series A (Apr 23, 2018)
- Investors on record: 3

## About

ProGlove is a German company specializing in wearable barcode scanning solutions, aimed at improving efficiency in logistics and manufacturing sectors through innovative technology and hands-free scanning capabilities.Founded in 2014 in Munich, Germany, ProGlove develops solutions that enhance operational efficiency in industries such as logistics and manufacturing. The company has engaged in 7 total deals, with its most recent funding round being a GROWTH round that raised USD 40.00 mn from investors including Summit Partners and Upbeat Ventures, bringing the total amount raised to USD 40.00 mn and a current valuation of USD 247.81 mn. The founders of ProGlove include Alexander Grots, Jonas Girardet, Konstantin Brunnbauer, Manuel Bönisch, Paul Günther, and Thomas Kirchner.ProGlove specializes in providing innovative wearable barcode scanning solutions designed to enhance efficiency in logistics and manufacturing environments. Their core offerings include the wearable scanner MAI and several models within the MARK product line, such as MARK 3, MARK 2, and MARK Basic. These devices optimize barcode scanning processes, allowing users to scan hands-free, significantly improving workflow and reducing errors. ProGlove's solutions address challenges like worker fatigue, scanning accuracy, and operational speed, contributing to enhanced productivity. Their technology is used by major players across various industries, including automotive, logistics, and retail, with clients located in North America, Europe, and parts of Asia.In 2022, ProGlove reported a revenue of USD 33.93 mn, with an EBITDA of USD -10.48 mn, generated primarily through direct sales of its hardware products and software subscriptions. The company engages in B2B transactions, catering to enterprises seeking to enhance their operational efficiency through integrated wearable and software solutions. ProGlove's pricing structure includes options for individual scanners and tailored software packages, reflecting a commitment to scalability for different operational sizes.ProGlove aims to leverage its recent GROWTH funding round, completed on May 4, 2022, to accelerate its growth initiatives. The funding will be directed towards expanding its product line and enhancing existing solutions. The company is focusing on market expansion into North America and Asia, planning to establish a broader presence in these regions by the end of 2023. This strategic investment will also support ongoing product development efforts to meet evolving customer needs.

## Funding rounds

- Series A, Apr 23, 2018, $6.7M — Intel Capital, Bayern Kapital, GettyLab
- Series A, May 26, 2015, $2.2M — Intel Capital, Bayern Kapital, GettyLab

## Investors

- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series A
- Bayern Kapital (https://capitalatlas.ai/funds/bayern-kapital) — Series A
- GettyLab (https://capitalatlas.ai/funds/gettylab) — Series A