top.tirol article – International multi-million financing

Tyrol has proven to be fertile ground for innovation and new technologies, as demonstrated impressively by three companies that have successfully secured multi-million-euro investments in international financing rounds. Together, these companies are valued at approximately half a billion euros.

Beyond the entrepreneurial achievements of the founders, these success stories also highlight the diverse ways in which Standortagentur Tirol, the regional government of Tyrol, and the Tyrolean Chamber of Commerce support and foster such developments. Tyrol is working to build and strengthen an ecosystem” of research, education, and financing that enables ideas and innovations to grow into successful companies.

The IT sector in Tyrol employs a total of 7500 people and generates an annual economic output of approximately 1.2 billion euros.

Success from Tirol to the World

Three companies stand as representatives of many others that have leveraged Tyrol’s favorable conditions—combining good ideas, innovative products, and entrepreneurial thinking—to achieve international success.

Deep Opinion

Deep Opinion was founded in 2021 by Stefan Engl and Stefan Ramershoven. The company uses AI technologies such as Generative AI and Large Language Models (LLMs) to automate business processes. The focus is particularly on tasks that involve complex work and traditionally require subject matter experts. For example, in the banking sector, Deep Opinion helps accelerate customer onboarding and loan processing. In the insurance industry, AI-powered automation enables faster and more precise claims processing, from reporting to payout. International reference customers include leading insurance companies such as Allianz and Hannover Re, banks and financial institutions like Erste Group and Bitpanda, as well as manufacturing companies such as Siemens. Deep Opinion secured €2 million in seed funding in 2022, followed by a Series A financing round of €11 million. Both investment rounds were backed by internationally renowned venture capital investors, fueling the company’s strong international growth.

Co-founder and CEO Stefan Engl:
“Tyrol definitely offers excellence in certain fields of research and science, particularly in technical areas, which means access to top talent and ideas—this was crucial for our founding. Another important factor is that Innsbruck has good international connectivity via its airport.”

Cropster

Cropster was founded in 2008 by Norbert Niederhauser, Andreas Idl, and Martin Wiesinger. The company develops AI-based intelligent software solutions that allow coffee roasters to precisely control the roasting process. The software includes real-time data analytics tools that improve quality, consistency, and profitability. The latest major financing round was completed with a Norwegian investment fund. In October 2024, the growth capital investor Verdane acquired a majority stake in Cropster to support the company’s further expansion. Notable customers include Starbucks and the U.S. supermarket chain Whole Foods. After launching in California and Australia, Cropster expanded into Scandinavia, the Benelux region, and the UK before moving into Central and Southern Europe. The company now focuses on growth in Asia and acquiring other firms.

Co-founder and CEO Andreas Idl:
“Innsbruck and Tirol make it easier to find great people. For a certain type of person, living and working here is very attractive. We also received valuable support from the Chamber of Commerce, especially regarding legal issues related to international trade.”

ParityQC

ParityQC was founded in 2020 as a spin-off from the University of Innsbruck and the Austrian Academy of Sciences, with its patent application dating back to 2015. The company is led by co-CEOs Magdalena Hauser and Wolfgang Lechner. ParityQC focuses on developing blueprints for quantum computers based on its proprietary ParityQC Architecture. The resulting chip designs enable the construction of highly scalable, error-corrected quantum computers that can be used universally. In 2024, ParityQC set a world record for the most efficient implementation of all key quantum algorithms across various types of quantum computers (ion traps, neutral atoms, superconducting quantum computers, etc.). In 2022, the company secured a multi-million-euro contract from the German Aerospace Center for the construction of two ion-trap quantum computers based on the ParityQC Architecture. This project establishes the company as a key player in European quantum computing.

Co-CEOs Magdalena Hauser and Wolfgang Lechner:
“Tyrol holds a leading global position in quantum research, thanks to the University of Innsbruck. The outstanding research achievements there have been, and continue to be, a key reason why we founded our company here and remain based in Tyrol.”

Support for Innovation in Tirol

Marcus Hofer, Managing Director of Standortagentur Tirol:

As Tyrol’s innovation agency, we support companies from their very first business idea. Through our subsidiary, Startup Tirol, we help young businesses turn their ideas into promising business models. Later on, we assist in finding and connecting with investors. We also help companies identify and secure suitable funding opportunities.

Beyond startups, we also support established businesses in their innovation efforts. For example, our cluster network includes more than 600 particularly innovative Tyrol-based companies. These clusters facilitate networking among businesses and foster knowledge transfer between research and industry.

Mario Gerber, Regional Minister for Economy, Tourism, and Digitalization:

Innovation is a key driver of business success. That’s why we, as a regional government, are committed to promoting innovation in companies. We support this through Standortagentur Tirol and have also created a comprehensive innovation funding program to accelerate technology and innovation development in Tyrol’s economy.

Tyrol offers excellent conditions for businesses, particularly in high-tech industries. Companies benefit from top-tier infrastructure, a high quality of life, and an attractive funding landscape. Additionally, Tyrol is an outstanding hub for science, education, and training.

Clemens Plank, Software Entrepreneur and IT Industry Representative of the Tirol Chamber of Commerce:

Tyrol has an exceptional startup scene with enormous potential. As a business association, we take pride in fostering this dynamic environment, supporting young, innovative companies, and creating sustainable value for Tyrol. Our co-founding of the ‘InnCubator’ in collaboration with the University of Innsbruck—serving as a first point of contact for innovative businesses—is just one example of our commitment. Another is our support for special events like ‘Skinnovation,’ Tyrol’s startup event focused on innovation.