Picture: Adrienne Menz (Financing Specialist, IBB Capital), Reimar Müller-Thum (Chancellor, CODE), Peter Ruppel (President, CODE), Torsten Harr (Managing Director, IBB Capital) (f.l.t.r., CODE / Gino Giove)
Berlin, October 9, 2024 – CODE University of Applied Sciences, which is backed by more than 50 of Germany’s most successful startup entrepreneurs, recently successfully completed the final component of a €1.2 million growth financing round. The financing round was led by Investitionsbank Berlin (IBB Capital). Existing investors such as Fadelia Invest participated as well.
IBB Capital is providing 70 percent of the investment volume as part of this relevant financing component. The public funds of IBB Capital GmbH, which leverages private funds, come mainly from the BerlinInnoGrowth program refinanced by KfW (Future Fund) and Investitionsbank Berlin, which supports and promotes innovative start-ups from Berlin in their growth. A major existing investor is Prof. Dr. Roland Fassauer‘s Fadelia GmbH, which contributed the remaining 30 percent of this component as a private investor.
Investment for Growth and Innovation
The funds will be used in particular to expand the range of programs on offer, including the introduction of a new Master’s degree program and the development of additional programs. The aim is to offer students a broader range of specialized courses to further develop their skills and competencies in a rapidly changing technological world.
“This investment is a decisive step for CODE to further advance our mission of training tech talent for the future. We are convinced that our university will continue to contribute significantly in shaping the Berlin startup ecosystem”
, says Dr. Reimar Müller-Thum, Managing Director and University Chancellor of CODE.
“For us, the follow-up investment in CODE is another ESG investment in Berlin startups with high social relevance and an expression of our trust in the team around founder Thomas Bachem and CEO Reimar Müller-Thum.”
, added Stefan Sonnenberg, one of the managing directors of IBB Capital GmbH.