Image credits: icon group
iconmobile group, a German company known for its innovation agency and design is now a VC aiming to back startups in the digital and technological space.
Recently, the Berlin-based WPP network agency has announced the reorganisation of the company into icon group with a $30M (approx €25M) venture fund.
Recently, the winners of the 2021 Future Hamburg Award were announced.
The fund will focus on investing in startups that enable traditional companies to reinvent their business models.
Two entities
The reorganisation categorises icon group into two separate entities:
- icon impact – an international product innovation arm.
- icon ventures – a $30M (approx €25M) venture capital fund that invests in the ventures.
The German company’s previous properties will now fall under the icon ventures umbrella and they are:
- D[AI]TA – It is a white label sustainable laundry system that filters microplastic fibers via smart washing machines, reduces chemical contaminants, and uses ‘smart grid’ washing to save energy.
- banbutsu – A mobility experience platform that reinvents the experience of getting from one place to another.
- icon incar – A mobility experience company.
Innovations
Notably, icon group is one of the most successful international innovation agencies. The German company developed the first connected toothbrush with Oral-B, pioneered the salon of the future with Henkel, and designed over 150 cars with several OEMs.
Founded in 2003, icon group drives changes across various industries right from automotive and consumer goods to financial services and health care.
“We combine business, design, and technology to develop product roadmaps and execute them from start to finish,” says the company on its official page.
400 people, 6 offices
The company has 400 people across six offices in Munich, Ingolstadt, Los Angeles, Detroit, and Shanghai.
“Whether it’s creating the first connected toothbrush for Oral-B or UX/UI design for the world’s leading automotive brands, icon group works to bring innovation from idea to scale. Simply put, we imagine a better future, and then we build it,” comments Thomas Fellger, Founder of icon group. “Now, with the inclusion of a venture fund, we can create the things we believe in without waiting for permission or additional budget allocations by investing in opportunities where we have deep knowledge and proven impact, something that sets us apart from the big five firms. With decades of experience under our belt, we are ingrained in the industries we work in and know what works, what still needs to be done, and how we can play a role in transforming that industry.”
