Norvestor takes majority stake in Carly

Norvestor Equity signed an agreement to acquire a majority stake in Carly, through its ninth fund, from the company’s founders. Carly was marketed on expected 2026 revenue of €45m and an EBITDA of €5–25M. Based in Munich and led by founder and chief executive Avid Avini, Carly reads the data modern vehicles produce. Every car built in the past two decades records fault codes, sensor readings and wear indicators through its onboard diagnostics port, but that data is held in manufacturer-specific formats and normally accessible only to franchised garages. Carly sells an adapter that plugs into the port and an application that interprets what it finds, telling the owner which faults are stored, what they mean and what they will cost to repair. Those readings serve several purposes. A buyer inspecting a used car can see the faults a seller has cleared and whether the mileage is consistent with the vehicle’s own records. An owner of an electric car can measure the remaining capacity of the battery, which determines most of the vehicle’s residual value and cannot be judged from the outside. A workshop or a fleet operator can diagnose before dismantling. Norvestor invested to develop the business-to-business side of that offer, where dealers, fleet operators and insurers buy the same diagnostics at scale, to extend the company beyond its existing markets, and to fund further work on the vehicle data and the software that interprets it. Evercore acted as sell-side financial adviser.