ThingTrax closes $1 million seed funding round led by SuperSeed
ThingTrax, a London-based start-up aiming to turn ‘dumb’ factories into smart factories, has closed a $1m seed funding round led by SuperSeed.
Industrial specialist Sumaria also took part in the round. The latest funding round follows ThingTrax’s 2017 raise that resulted in £250,000.
Aman Gupta, Co-Founder of ThingTrax, commented: “We want to change the way manufacturers work with and manage their factories, using technology. The potential to improve everything from saving downtime to ensuring staff are safe, is endless. But very few companies are providing an end-to-end solution. ThingTrax provides the hardware and the platform needed to analyse and monitor performance, to make smarter decisions. We already have great customers using our solutions around the world, and this investment will help us reach more manufacturers to upgrade them to factories of the future.”
ThingTrax was founded in 2015 and they believe their solutions can result in productivity gains of 35% with a 70% reduction in machine downtime.
The new investment will be used to fund additional growth as well as hiring for tech and commercial positions.