COMPREDICT GmbH is a German automotive startup that uses artificial intelligence to predict failures of automotive components, optimizing the vehicle maintenance and development process. Founded in 2016 by Dr. Stéphane Foulard and Dr. Rafael Fietzek in Darmstadt, COMPREDICT wants to help customers maximize the quality and lifespan of their products while minimizing their environmental footprint.

COMPREDICT’s software precisely predicts failures of various mechanical components like shafts, gear wheels, chassis parts, bearings, or electronic components, allowing car owners to feel safe and comfortable with the upkeep of their vehicles.

Why COMPREDICT Chose German Accelerator for Their South Korea Expansion

To help them get started with their international expansion, the COMPREDICT team initially attended the Kickstart program by German Accelerator. The program experience took them to Silicon Valley where they would meet one of their eventual investors.

So when it came time to enter the South Korean market, COMPREDICT knew to turn to German Accelerator for local contacts, cultural expertise, and consumer insights.

“Even though we had some understanding on the specifics of the South Korea market, we wanted to make sure that our communications were effective and our solutions properly presented.”

 

Daniel Dilmetz | Head of Sales and Business Development at COMPREDICT

How German Accelerator Helped COMPREDICT on Their Expansion Journey

Before participating in the South Korean Market Discovery program, COMPREDICT faced several hurdles regarding communication, cultural knowledge, and understanding consumer needs in different market segments.

“It was helpful to talk to such a wide range of people who have worked in different positions at automotive manufacturers to give us feedback,” said Dilmetz. “The value we generate for companies is highly complex and not always understandable from the start. That’s why we wanted to work explicitly on our pitching, generate feedback and incorporate it into our presentation and communication.”

The German Accelerator team helped COMPREDICT understand and adapt to the South Korean market – and to Asia in general – particularly in how it differs from the European market.

“They helped us identify the major differences between the two markets,” said Dilmetz. “The German Accelerator team also showed us what is more and less important to our customers in South Korea. It was very helpful.”

Program mentors arranged for the COMPREDICT team to receive the presentation and product feedback they needed in order to realize better product-market fit for the region. They also met a number of potential partners and customers from across the German Accelerator network.

“If you’re not aware of how your customers think, nothing gets done,” said Dilmetz. “Hence, it was wonderful throughout the program to socialize with so many people who had worked as automotive manufacturers in several different positions.”

What COMPREDICT Achieved Post-Program & Beyond

After finishing the German Accelerator program, the COMPREDICT team now has a better understanding of the South Korean market and has increased the effectiveness of their pitch. COMPREDICT is also planning and building major partnerships across the region and incorporating customer feedback into a continuous improvement cycle of their product offerings.

The COMPREDICT team is still in close contact with German Accelerator, with invites to customer events and introductions to potential partners or investors whenever needed.

“I really like that the German Accelerator team does an awesome job by keeping us in the loop all the time, thinking about us and still inviting us to events.”

 

Daniel Dilmetz | Head of Sales and Business Development at COMPREDICT

At a startup-matching event in Düsseldorf last May, COMPREDICT was introduced to Presidio Ventures and given the opportunity to pitch their startup to investors there. And last September, German Accelerator invited the COMPREDICT team to attend a matching event between Japanese and European companies organized by JETRO.

Most recently, COMPREDICT successfully raised a €6 million series A funding round led by Vektor Partners and BlackBerry to scale its AI Virtual Sensors platform for automotive health and usage monitoring.

“The amount of data produced and transferred by vehicles is steeply increasing, and so is the market for vehicle data analytics, especially in the fields of predictive maintenance and sustainable R&D,” said Dilmetz. “This funding round allows us to continue our ambitious growth roadmap.”

Advice for Other Startup Founders Considering an International Expansion

When asked what advice they would give to other German startup founders about to undertake a similar internationalization journey, Daniel Dilmetz had a few things to say.

“If you want to be represented internationally, you have to adapt to the market,” said Dilmetz. “Be sensitive to and respectful of the local culture and behavior. Most importantly, you have to show a certain commitment to that market, such as having local representation of the company in some form.”

As for which startup accelerator German entrepreneurs should choose, Dilmetz said the choice should be easy.

“We attended several startup accelerator programs, but the German Accelerator program is something I really enjoyed. I’m glad to be in contact with their team because they’re a program that actually does something concrete for us.”

 

Daniel Dilmetz | Head of Sales and Business Development at COMPREDICT