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Another milestone on the way to the digital future: ETO GRUPPE invests in Filancore GmbH

Friday, 25 February 2022 12:40

The Stockach-based ETO GRUPPE invests in the start-up company Filancore GmbH. Its innovative and secure solution for digital authentication within the Internet of Things enables the ETO GRUPPE to take another step closer to its vision:
To digitally network dynamic applications and process flows to make them even more secure, efficient and smooth through highly intelligent data management.

After successful and promising collaboration within government-funded projects such as ALFRIED and TRADE, it was the next logical step for ETO to invest in start-up partner Filancore. This is about much more than just financial support, as Dr. Michael Schwabe, CEO of ETO GRUPPE, emphasizes: "The Filancore team of founders and visionaries impressed and excited us with their drive for innovation. We see ourselves in the collaboration not primarily as a financier, but above all as a strategic partner."

The vision: Smooth processes at the highest engineering level
The Stockach-based group of companies is planning to implement new business models in the Internet of Things (IoT) in order to be able to integrate its products Web 3.0 applications in the future. In doing so, ETO is by no means leaving its established business areas, but rather is consistently pursuing its vision. The company's core business is to ensure secure, smooth and efficient processes at the highest engineering level. In this way, ETO established itself as a pioneer and leading provider in the development and production of actuators and sensors for highly dynamic technical applications in automotive, mechanical and medical engineering. In the digital age, true to the brand core, the consistent continuation now follows: the departure towards Industry 4.0 – the Internet of Things as well as intelligent networking, processing and data use.

The desire: A holistic security architecture for IoT concepts
"We are developing disruptive technologies that will manage millions of sensors and wearables in the future," said Benjamin Bönisch, VP Strategy & Business Development. "And that's where Filancore comes in. Our two companies are united by the desire to provide a holistic security architecture for IoT concepts." Founded in 2019, Filancore's Identity Gateway is an efficient management system for autonomous devices and machines. It includes Identity-as-a-Service software that enables customers to use self-sovereign identities, secure digital identities, in a simple and intuitive way without extensive knowledge.

The goal: The establishment of a transparent and fair digital infrastructure
The Identity Gateway now makes it possible to offer decentralized management structures with distributed ledger technology that are secure, scalable to all sizes and cost-effectively to customers in all industries. The innovative technology will be the basis for further new projects from ETO in the near future. "The now sealed cooperation with Filancore is another milestone in our development roadmap," said Bönisch. "We want to be able to operate autonomously and at the highest possible level in all important core competencies of Industry 4.0. Our aspiration is to play a formative role in the Big Data management of the future. Our goal is therefore to build a transparent and fair digital infrastructure in which producers and users of data benefit equally. The merger with Filancore was one of several strategic investments here and an important milestone."