Germany

German Startup TRAIT Secures €1M to Boost AI Training App with Empathetic Support

German firm TRAIT has raised seed money worth €1 million from HTGF, angel club Better Ventures, and other individual investors. The money will help the company develop its AI training technology further, with the goal of giving runners a more individualised and compassionate training environment.

Utilisation of Funds

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With an emphasis on developing a compassionate and flexible learning environment, TRAIT will use the funding to improve its AI-driven teaching platform. The goal of this development is to give runners’ health and well-being equal priority. “TRAIT’s goal of developing an AI training system for athletes that is both adaptive and sympathetic excites us. It’s intended to build people’s mental as well as physical power, according to Johannes Dierkes, HTGF Investment Manager.

Relaunching and Rebranding

TRAIT is reintroducing its training app, now known as TRAIT for runners, in addition to the investment. The Android and iPhone app stores offer the most recent version of the software for free. The startup’s effort to provide a more individualised and encouraging training experience has reached a major milestone with this redesign.

Taking Up Major Issues

According to TRAIT’s research, many people fall short of their fitness objectives not because they don’t have enough workouts or data, but rather because their training programs are rigid and they don’t have the right kind of support system. Through tackling these two crucial concerns, TRAIT seeks to guarantee that nobody is left behind when faced with obstacles in life.

How TRAIT Operates

The goal of TRAIT, which was founded in 2021 by Matthias Ettrich and Raphael Jung, is to assist people in reaching their fitness objectives and leading more active and sustainably satisfying lives. The organization fosters a friendly atmosphere by fusing community spirit with science-based instruction. The prior iteration of the application had a notable expansion, with downloads rising by 178% yearly. TRAIT wants to provide runners with even more individualized support by building on its previous accomplishments.

“With TRAIT, we have developed an app that is as empathetic and understanding as a human coach would be. We help people get back into sports by combining sports science and AI training with real social support. With the help of HTGF and other investors, we are ready to revolutionize the way people think about fitness,” said Raphael Jung, CEO of TRAIT.

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An Industry First Benchmark

With its AI-powered, compassionate training platform, TRAIT has the potential to completely transform the fitness sector. It touches on important obstacles to reaching fitness objectives by emphasizing individualized and adaptable training regimens. It establishes a new benchmark for the industry with its emphasis on fusing sports science with a welcoming community.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

German HRtech VEDA Secures €17M from CIBC Innovation Banking for Global Growth

Leave a Comment / News, Story, Tech News, Tech Story / By Sandhya Gupta

German HR software and payroll-as-a-service provider VEDA has secured €17 million in financing from CIBC Innovation Banking. This financial boost is aimed at extending VEDA’s market share within the DACH region, encompassing Germany, Austria, and Switzerland, and expanding its footprint into other international markets. CIBC Innovation Banking has a track record of investing in promising tech companies, having previously backed Payapps, Ometria, and Phrase.

The fresh funding will enable VEDA, recently acquired by global alternative investment firm Investcorp, to develop and execute a robust buy-and-build strategy. This approach will focus on acquiring payroll software companies and enhancing payroll services. Additionally, VEDA is eyeing expansion into new regions, including the Benelux countries, the UK, and the Nordic nations.

Comprehensive HR Solutions

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Headquartered in Alsdorf, Germany, VEDA, under the leadership of CEO Dr. Ralf Gräßler, offers an all-in-one platform for digital HR management. With a team of 170 employees, VEDA provides a suite of services including payroll, time and security management, recruiting, personnel development, and learning management. This comprehensive approach is designed to digitize HR tasks, thereby minimizing administrative burdens for its clients.

Serving nearly 1,200 customers, VEDA’s client base includes prominent names such as MAN and Lufthansa, as well as numerous mid-market enterprises with employee counts ranging from 150 to 5,000. In 2023, VEDA reported revenues of approximately €20 million.

Dr. Gräßler highlighted the transformative impact of the pandemic on HR departments, noting how VEDA’s technology has become essential in managing remote work and addressing talent shortages. “The pandemic changed the game for HR departments, stretching teams of professionals to the limit as they dealt with remote working and talent shortages. VEDA’s technology provides relief by offering a whole HR platform and the option to outsource certain services. The financing from CIBC Innovation Banking will support us in our buy-and-build strategy as we expand into current markets and explore new ones. We are excited to work with CIBC Innovation Banking as we start this new era of growth,” he said.

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Supporting Mittelstand Growth

Sean Duffy, Managing Director at CIBC Innovation Banking, expressed enthusiasm for supporting VEDA’s growth ambitions. “We are delighted to be supporting VEDA in their next stage of growth, as they expand their market share, and explore new markets. Our funding has enabled VEDA, as part of the Mittelstand, to explore new avenues for growth and we look forward to supporting this,” Duffy stated.

With this significant investment, VEDA is well-positioned to enhance its service offerings and expand its international presence, setting the stage for further innovation and growth in the HR technology sector.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Germany planning to ban Huawei, ZTE from parts of 5G networks

Leave a Comment / News, Tech News / By Sandhya Gupta

According to the German newspaper Zeit Online on Monday, the German government intends to prohibit telecom operators from using specific components from Chinese firms ZTE and Huawei in their 5G networks.

According to Zeit Online, which cited government sources, the prohibition might apply to network components that are already installed, obliging operators to eliminate and replace them.

Also Read: German airport websites hit by suspected cyber attack

Because of their close ties to China’s security services, critics of Huawei and ZTE claim that their inclusion in the future’s ubiquitous mobile networks could give Chinese agents and even infiltrators access to large areas of vital infrastructure.

These allegations are rejected by Huawei, ZTE, and the Chinese government, which asserts that they are driven by a nationalistic desire to aid non-Chinese competitors.

According to Zeit Online, Berlin’s cybersecurity office and interior ministry have been examining the potential security risks posed by components in the burgeoning 5G networks for months. Even though the poll was still ongoing, the outcome was already obvious, according to Zeit Online, which cited official sources.

According to Noah Barkin, managing editor of Rhodium Group’s China practice and expert on German-Chinese relations, this is a signal that the German government may eventually be considering China-related threats to national security seriously. He stated, “But after years of dithering, the German 5G network is deeply dependent on Chinese suppliers. It will take many years to unwind this.”

Germany approved an IT security law in 2021 that imposed strict requirements on companies that manufacture telecom equipment for next-generation network systems, but it refrained from outright banning Huawei and ZTE as some other nations have.

According to a report, Germany has actually grown even more reliant on Huawei for its 5G RAN than it was for its 4G network, despite the fact that carriers have refrained from using the company’s core network technology.

The German government was unable to respond to a recent parliamentary inquiry regarding the number of Huawei components that carriers were utilizing in their 5G networks last month.

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Swedish telecom regulator PTS gave telecom operators participating in 5G auctions until January 1, 2025, to remove equipment from China from their systems and essential functions after banning Chinese companies from deploying 5G in 2020.

In contrast, Britain now wants telecom companies to abandon Huawei-related hardware and services by December 31, 2023, as opposed to the initial deadline of January 28, 2023. By the end of 2027, all Huawei hardware must be removed from Britain’s 5G networks.