ThingTrax raises $1m in a seed round led by SuperSeed to expand its team and customer base.
SuperSeed led the investment round with participation from industrial specialist Sumaria.
ThingTrax provides smart technology solutions that connect machines, workers, and robotics to improve manufacturing efficiency. The company uses cloud computing, IoT, and artificial intelligence to turn traditional factories into smart manufacturing hubs.
ThingTrax has secured a $1m seed investment led by SuperSeed, with participation from industrial specialist Sumaria. The capital will be directed towards expanding the company customer base and growing its technical and commercial teams.
Founded in 2015, ThingTrax connects machinery, workers, and robotics through a cloud-based dashboard and computer vision systems. The company has recently developed worker safety and social distancing solutions to help manufacturers navigate operations during the coronavirus pandemic.
The latest backing follows previous support from accelerators and industry partners, enabling the London-based team to scale its smart manufacturing platform internationally.
From the founder
"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."
Aman Gupta
Co-Founder at ThingTrax
Investor perspective
"There is a huge opportunity for ThingTrax and the solutions it provides customers. By working with its existing clients they have very easily provided new services based on the demands of each factory. For instance, in plastics, efficiencies can be made to cut energy usage and make the factory more sustainable, and for the automotive industries, if there is downtime in part of the production, skilled workers can be deployed elsewhere on the line. Recently this has met the needs of factories working under stricter regulations in Covid-19, but this is just one instance where demand changes and ThingTrax quickly adapts to provide a solution. It’s been a pleasure to work with Aman, Imran and the team, and to support them in this next stage of growth."
Mads Jensen
Managing Partner, SuperSeed
Use of funds
- 01Grow the team
- 02Accelerate go-to-market
