Iconiq Growth Leads $30M Investment in Startup Pivot Enablers

Icon Group Launches $30M Venture Capital Fund

A new $30 million venture capital fund, Icon Group, is being established by Germany’s iconmobile group, which operates as a network agency within WPP. This development signifies a strategic shift for the company.

The reorganization will see iconmobile evolve from a comprehensive innovation agency to one that also provides venture capital support.

Reputation and Focus

iconmobile has built a strong reputation as a forward-thinking agency specializing in technology, design, and sustainability. The change in direction will now focus on investing in tech startups.

These startups will be selected based on their ability to assist established companies in fundamentally reshaping their business strategies and enhancing their customer engagement methods.

New Company Arms

The launch of the Icon Ventures VC fund is accompanied by the creation of a new division, ‘icon impact’. This division will continue the established product and experience innovation work of iconmobile.

Portfolio Companies

Several existing iconmobile ventures are now consolidated under the Icon Ventures umbrella, including:

• D[AI]TA: A white-label, sustainable laundry solution employing smart washing machines to filter microplastic fibers, minimize chemical pollutants, and conserve energy through ‘smart grid’ technology. It also collects data on washing and wearing habits, sharing insights with retailers.
• banbutsu: A company focused on providing sustainable last-mile delivery services.
• icon incar: A firm specializing in innovative mobility experiences.

Founder’s Vision

Thomas Fellger, Founder of Icon Group, stated: “From pioneering the first connected toothbrush for Oral-B to designing user interfaces for prominent automotive brands, Icon Group consistently translates innovation from concept to implementation.”

He continued, “The addition of a venture fund allows us to proactively develop solutions we believe in, bypassing the need for approvals or budget constraints. We will invest in areas where we possess extensive knowledge and a demonstrable track record of success, differentiating us from larger firms.”

Leveraging R&D Expertise

In a recent conversation, Fellger elaborated: “Our organization is uniquely positioned to rapidly commercialize insights gained from our research and development efforts.”

He provided an example: “We identified an infrared sensor applicable to air quality monitoring in Egypt. Recognizing the need for this type of data, we swiftly developed a new product. Our strength lies in connecting disparate products and services across industries, enabling businesses to reimagine their operations and expand their service offerings.”