The pre-series A financing was co-led by Concentric, Superseed and Puma Private Equity to support international expansion and team scaling.
"Out of 10m factories worldwide, 94 per cent are looking for digital solutions that can connect multiple factories globally, standardise processes and improve efficiency. Thingtrax goes beyond data collection and provides leaders with in-depth analysis and actionable insights for improved efficiency and behaviour change across the workforce. We give manufacturers the tools and knowledge that they need to accelerate progress on their digitisation journey and the attainment of operational excellence."
Molten Ventures led the Series A round to support product development and international expansion.
"We are seeing huge demand from manufacturers looking for solutions to help them transform their operations in the face of increasing pressures and a worsening skills gap."
The investment round was led by Intel Capital with participation from incoming board member Jennifer Ard.
"AMFG has become the go-to solution to help companies unlock the full potential of additive manufacturing to keep up with increasing demand. We’re excited to be part of Keyvan Karimi and his team’s journey."
— Jennifer Ard, Managing Director and Head of Investment Operations
The final close of the Series B round brings total funding to $26.1m with backing from ST Engineering Ventures.
"The Asian market is a critical area of growth for AAM, and one we are committed to cultivating. Investment from Kanematsu Corporation, and now ST Engineering, demonstrates that our confidence in and focus on this market is well-founded and supported by industry leaders from across the region. ST Engineering has been a strong partner of ours for some time now and we are honoured to develop that relationship further with the company joining Skyports as an investor. We look forward to bringing our expertise together to expand our capabilities."
