Company Name:
LexaTexer
About:
LexaTexer provides enterprise data-driven and AI-driven solutions across verticals, especially in manufacturing
Founded:
2017
Headquarters:
Berlin
Founder:
Dr. Günther Hoffman
Industries:
Enterprise Software, Machine Learning & AI
Founded in 2017, LexaTexer is an AI startup that focuses on building, validating, and scaling data-driven and AI-driven solutions for enterprises across several verticals. Manufacturing is their main focus, but other sectors include energy, healthcare, and finance. The startup is privately financed, and therefore is focused on turning a profit as soon as possible.
Within the enterprise tech landscape, LexaTexer focuses on customers in the middle and top of the digitization maturity pyramid. The startup already works with tier-1 companies such as Mercedes-Benz, Schäffler, and Vandenburg in the DACH region. In Southeast Asia, LexaTexer provides end-to-end AI solutions for mature enterprises while also helping lower-maturity companies figure out their best use case by running a variety of rapid experiments.
“We have capabilities to cater to both large and small companies given our platform approach.”
Dr. Günther Hoffman | CEO of LexaTexer
Why LexaTexer Chose German Accelerator to Expand to Asia
LexaTexer took part in both the Japan Market Discovery program and the Asia Market Access program with German Accelerator. Its internationalization to Southeast Asia was propelled by market growth, since manufacturing is a key industry in Southeast Asia and since its growth rate lands somewhere between Europe and the U.S.
Previous to their time with German Accelerator, the LexaTexer team worked with other startup accelerator programs, but they found that German Accelerator had the strong network they needed for a successful international expansion.
The LexaTexer team learned that in Southeast Asia, it’s critical that you become a part of the business ecosystem early. While business development processes are pretty straightforward in DACH, you need to build credibility in order to thrive in Southeast Asian markets.
“At German Accelerator, the mentors are mostly C-level in seniority and most of them have been in Southeast Asia for many years. It helped us a lot with validity in the region.”
Dr. Günther Hoffman | CEO of LexaTexer
How German Accelerator Helped LexaTexer on Their Expansion Journey
When they first joined the German Accelerator program, the LexaTexer team faced hurdles in scaling their business and finding local partners in such an entrenched ecosystem.
But the program gave LexaTexer what they most needed to expand.
“We built some initial trust with contacts in the region because of German Accelerator. With their guidance, we learned how to approach Southeast Asian markets, and how to slowly build success in the market.”
Dr. Günther Hoffman | CEO of LexaTexer
By the end of the program, LexaTexer had already acquired 4 major customers in Southeast Asia, a key milestone in their entry to the region.
LexaTexer also benefited from the mentoring sessions in German Accelerator.
“There is no one I would not recommend from the German Accelerator mentor network,” said Hoffman.
He specifically applauded Steffen Schacher from Capgemini, Dr. Maren Celine Schweizer from Schweizer World Group, Timothy Toh from Materion Precision Optics, and both Claus Karthe and Rotem Blanc Inbar from German Accelerator.
During the mentoring sessions, the LexaTexer team had the opportunity to build personal relationships with the mentors, which was a force multiplier as they were introduced to the mentors’ networks as well.
The biggest takeaway for the LexaTexer team from the GA program was the importance of connecting to the ecosystem.
“There is no shortcut,” Hoffman said. “You have to work through the business ecosystem to become a part of it.”
What LexaTexer Has Achieved Post Program & Beyond
By the end of the program, the LexaTexer team had set up their legal entity in Singapore and signed on 4 new enterprise customers in Southeast Asia. The new customers include a tier-1 company in Vietnam and two Singapore-based companies that have a global reach.
“We are working with BSI (British Standards Institution), Omni Mold (part of Sunningdale), and ARTC which are all tier-1 companies in Singapore,” said Hoffman. “We got BSI as a customer from one of the IMDA challenges we won in Singapore. The other one was a finance challenge from Nikko AM.”
Initially, LexaTexer planned to do a six-month program with German Accelerator, but ended up extending three more months for further insights and support.
“German Accelerator is still our touch point in the region for connections, questions, validation, and introductions. German Accelerator is the best place to go when you don’t have an implicit knowledge of Southeast Asia.”
Dr. Günther Hoffman | CEO of LexaTexer
