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Our 2018 Guest ProGlove Makes ”Monster Exit” at around 500 m € — Plans to Be The Next Teamviewer

Updated: Apr 30

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.

What Is This About?

ProGlove, a Startuprad.io guest back in 2018, achieved a "monster exit" at approximately €500 million. The Munich-based wearable scanner company — which had ambitions to become the next TeamViewer — proves that early podcast coverage can spotlight companies years before their biggest moments.

  • This blog post first appeared first on old medium publication (https://medium.

  • Our motto is “be ahead of the curve.

  • Global Fintech Awards (made it only into the finals).

  • While we have been there, we did a few interviews with German startups, just entering the US market via the German Accelerator NYC Program and German Entrepreneurs, which are already successful in the US.

  • We interviewed several employees and entrepreneurs on top of the building in which the German Accelerator is located in lower Manhattan.


warehouse by Pixabay

New Blog


Our 2018 Guest ProGlove Makes ”Monster Exit” at around 500 m € — Plans to Be The Next Teamviewer Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.


Be ahead of the curve

Our motto is “be ahead of the curve.” So we are always happy when we can provide you with exclusive data, which no one else has, exclusive in-depth content, or identify startups early on, that later make national or international headlines e.g. IDnow, FastBill or Meetfox


Be (4 years) ahead of the curve

Back in 2018, we traveled to NYC since we have been nominated for the

Benzinga

Global Fintech Awards (made it only into the finals).


While we have been there, we did a few interviews with German startups, just entering the US market via the German Accelerator NYC Program and German Entrepreneurs, which are already successful in the US.

We interviewed several employees and entrepreneurs on top of the building in which the German Accelerator is located in lower Manhattan. One of them was an (at this time) pretty unknown startup called ProGlove from Munich. They offer a barcode scanner, which is fixed on the back of the hand on a glove. With this setup, employees can scan codes and have their hands free all the time. See the Youtube Playlist below:



Back to the present exit by ProGlove

Now an article by one of Germany’s largest and most respected newspapers FAZ states that the company has been sold to Private Equity fund Nordic Capital for an estimated 500 m € (~ 527 m US$). This by itself is astonishing by German standards. Also, you should know ProGlove’s CEO Andreas König. He has been the CEO of Teamviewer, which was first bought by a private equity fund for reportedly one billion euros and later listed, making it in Germany’s mid-cap stock index MDAX.

When Mr. König was asked if he sees a similar development for ProGlove as for Teamviewer, he confirmed that this is the plan. „Das ist der Plan, ja. Die Firma hat wirklich das Potential, richtig groß zu werden.“

You can learn more about ProGlove in this YouTube video. Please note that we also edit in a bit where we show the glove, so the videos has never been turned into an audio podcast.





What Happened with ProGlove?

ProGlove, the Munich-based industrial wearable scanner company first interviewed by Startuprad.io in 2018, achieved a "monster exit" at approximately €500 million. The company, which makes smart gloves with integrated barcode scanners for warehouse and manufacturing workers, aspired to follow TeamViewer's path as a German tech company going from startup to major public listing.

Introduction

This episode tracks the exit of a former Startuprad.io guest: ProGlove, the industrial wearable scanner startup first covered in 2018, achieved a "monster exit" valued at approximately €500 million. The company had been interviewed during the Global Fintech Awards period when Startuprad.io was covering German startups entering the US market through the German Accelerator program. ProGlove's ambition was to become the next TeamViewer — a German tech company that successfully transitioned from startup to publicly traded powerhouse.

ProGlove's approximately €500 million exit represents one of the most significant outcomes from the German industrial tech sector. The company makes wearable barcode scanners integrated into gloves for warehouse and manufacturing workers, addressing efficiency in logistics and production. First covered by Startuprad.io in 2018 during the Global Fintech Awards, ProGlove's journey from early-stage startup to major exit validates the "be ahead of the curve" approach to startup coverage. The company's stated ambition to follow TeamViewer's trajectory shows the growing scale of German tech exits.

  • ProGlove achieved a "monster exit" valued at approximately €500 million, one of the largest German industrial tech exits.

  • The company was first interviewed by Startuprad.io in 2018, demonstrating the podcast's early coverage of breakout companies.

  • ProGlove's stated ambition was to follow TeamViewer's path from startup to major publicly traded company.

  • The interview originally took place during the Global Fintech Awards, covering German startups entering the US market.

Entities Referenced in This Episode

Companies

  • ProGlove — Munich industrial wearable scanner startup, ~€500M exit

  • TeamViewer — German tech company ProGlove aspired to follow

Organizations

  • German Accelerator — Program for German startups entering the US market

  • Global Fintech Awards — Event where ProGlove was originally covered

Topics

  • Industrial wearables, barcode scanners, warehouse technology, startup exit, German tech IPO ambitions

Relationship Map

  • ProGlove → achieved → ~€500M exit

  • ProGlove → aspired to follow → TeamViewer's IPO path

  • Startuprad.io → first covered ProGlove → 2018 (Global Fintech Awards)

Quote Highlights

  • ProGlove, a Startuprad.io guest back in 2018, achieved a 'monster exit' at approximately €500 million — validating early coverage of the Munich-based startup.

  • The Munich-based wearable scanner company had ambitions to become the next TeamViewer, scaling industrial IoT technology across warehouses and manufacturing.

  • Startuprad.io was four years ahead of the curve — featuring ProGlove in 2018, long before the company's major exit event.

  • The exit demonstrates how German industrial tech startups can achieve significant valuations by solving real-world problems in logistics and manufacturing.

Related Episodes on Startuprad.io

Partner with Startuprad.io

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What is ProGlove?

ProGlove is a Munich-based startup that makes industrial wearable barcode scanners integrated into gloves. These smart gloves allow warehouse and manufacturing workers to scan items hands-free, improving efficiency and ergonomics.

How much was ProGlove's exit worth?

ProGlove achieved an exit valued at approximately €500 million, described as a "monster exit" by Startuprad.io. The company had been on a growth trajectory since being first covered in 2018.

About the Host

Joern "Joe" Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.

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If your company wants to reach founders, investors, and operators across the DACH startup ecosystem, Startuprad.io works with a select number of partners on high-trust visibility and thought-leadership formats. Explore partnership options here: Partner with Startuprad.io

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