Digital Iron raises £1.6m in pre-seed funding from a consortium of investors to develop its artificial intelligence diagnostics platform.
The pre-seed round was led by a consortium including Seedcamp, Concept Ventures, RTP Global, C2V, and FJ Labs.
Digital Iron provides an artificial intelligence platform designed to streamline operations and diagnostics for heavy machinery dealerships. The company uses trained models on technical data to accelerate parts sourcing and reduce equipment downtime.
Digital Iron has secured £1.6m in a pre-seed funding round led by a consortium of early stage investors. Participants in the round include Seedcamp, Concept Ventures, RTP Global, C2V, and FJ Labs. The fresh capital will be deployed to further develop the company technology, expand the team, and scale operations globally.
From the founder
"Machines break down on average 600 hours every year, and the current manual processes to get them operational again are inefficient and time-consuming. Each machine can have between 50 to 200 documents attached, and with dealerships handling up to 1,000 machines annually, pinpointing issues can be a daunting task. Our platform ingests all manuals, enabling us to access the right documents and provide solutions in seconds rather than days. This significantly reduces downtime and recovers lost revenue."
Ciaran Gillen
Co-founder and CEO at Digital Iron
Investor perspective
"Digital Iron is seizing a massive opportunity to disrupt a large, underserved, and undigitized market. We are thrilled to support Salina and Ciaran, two experts in the heavy machinery sector, as they enable dealerships to offer vastly improved diagnostics and parts sourcing solutions."
Kate McGinn
Seedcamp
Use of funds
- 01Continue product development
- 02Grow the team
- 03Scale operations
Investors
Categories
About the company
Digital Iron
Digital Iron offers an artificial intelligence platform for heavy machinery diagnostics and parts sourcing.