Published on December 12, 2022
Rotterdam-based VIKTOR, a company that provides a low code development platform for engineers to build and share apps fast, announced on Monday that it has raised €5.1M in a fresh round of funding.
The new funding from Newion, APG (ANET), and InnovationQuarter Capital, which converts a prior loan in this round, will enable VIKTOR to expand internationally and make the platform accessible to all engineers.
As a convertible lender and a partner in VIKTOR’s early growth, Netherlands-based InnovationQuarter Capital has been associated with the company from the beginning of 2017. The Dutch investor is experienced in a wide range of regional startups and is converting within this round, making them now join as shareholders.
Capital utilisation
VIKTOR says it will use the funds to further expand its international company catalogue.
Co-founder and CEO of VIKTOR, Wouter Riedijk, says, “VIKTOR is active in large markets worldwide that are changing fast due to sustainability and technological developments. There is an ever-growing need for digitisation and technological solutions that can be used to efficiently organise processes. In this way, VIKTOR contributes to the energy transition by enabling clients to design projects with much lower energy use and use of energy-intensive materials (like concrete and steel) than conventionally designed projects.”
The platform is made available to every engineer in order to support these growth goals. The aim is to have 100,000 app users on the platform within two years. With the help of this investment from Newion and APG (ANET), marketing and sales initiatives will be improved, and the platform will be continually improved and expanded in response to customer demands.
A low-code development platform
VIKTOR was founded when Peter Madlener and Wouter Riedijk began their journey as entrepreneurs with their first startup in 2012. They established two production firms and an engineering firm, and from the outset, they assembled a group of software developers and engineers to work on numerous projects. It made the team discover their real DNA. Given that they did the same for the three businesses they previously founded, Peter claims that DNA is “helping developers build their own software”.
The first production company was sold to a partner in 2017. For VIKTOR, this was their first fundraising effort, accelerating the development. This marked the start of the launch of the product in 2019. In 2020, their second production company was sold, and again they used the funds in building VIKTOR.
VIKTOR makes it simple for developers to create their own web apps. Engineers are crucial in addressing today’s complicated problems, such as those related to the environment, energy, nitrogen emissions, and the housing crisis.
VIKTOR also enables engineers to quickly create their own expert software applications, automate, optimise, and share their work. For instance, to optimise architectural designs. This means that the knowledge of engineers becomes scalable and their solutions smarter. This is crucial for SMEs and independent engineers as well as for big engineering firms like Arcadis and WSP, clients of VIKTOR.
VIKTOR claims to be boosting the engineering and construction sector’s digital transformation. By utilising parametric and generative design techniques, they say they are assisting businesses in generating better solutions and insights much more quickly, increasing productivity, project management, and profit margins.
Newion IV is supported by the European Union through the InvestEU fund.
