2 years ago

Thingtrax Secures €5 Million to Empower Manufacturers with Digital Solutions

  • Thingtrax, a London-based IoT SaaS startup, has raised €5 million in a Pre-Series A round led by Concentric, Superseed, and Puma Private Equity

  • The funding will be used to expand the company's operations, develop strategic partnerships, scale the team, and broaden the customer base across Europe and the US

  • Thingtrax's platform helps manufacturers improve operational excellence and reduce costs by providing a digitally enabled performance platform that uses cloud computing, robotics, industrial Internet of things (IIoT), artificial intelligence (AI), and computer vision to convert factories into intelligent manufacturing hubs

  • The company has a strong track record of growth, with a 550% increase in revenue in 2021 and a 230% increase in 2022

  • Thingtrax is a preferred partner with Microsoft and an official AI partner in the Edge Solution category for Intel

  • The company supports clients across the UK, Europe, Asia, Africa, and North America in various industries, including plastics, food & beverage, consumer packaged goods, and automotive.

      • ProblemTechnology

      "Most factories lack the digital tools to connect their operations, standardise processes, and gain insights for improved efficiency."

      Solution

      "Thingtrax offers a cloud-based platform that uses AI, IoT, and computer vision to provide real-time visibility and actionable insights into factory operations, enabling manufacturers to optimise performance and reduce costs."

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