The Essen-based startup talpasolutions has just closed a €4.5 million Series A funding round which was led by the logistics investment fund F-LOG Ventures, and joined by NRW.BANK, RAG Foundation and the existing investors High-Tech Gründerfonds (HTGF) and Gründerfonds Ruhr.
Founded in 2016, talpasolutions offers software that connects mobile heavy machinery, collects data, and translates machine data into concrete actionable insights for machine manufacturers and operators. The startup helps companies around the world to optimize their machine performance, reduce unplanned downtime and improve safety. To do this, the startup uses the full range of data science models.
The fresh capital will enable the innovative startup to further accelerate its strong expansion in key industries such as mining, construction and logistics.
Sebastian-Friedrich Kowitz, co-founder and CEO of talpasolutions, stated: “Thanks to the investment, we are going full throttle into new industries. Over the coming months, we will continue to develop our platform and work on acquiring more international partners and customers. Our goal is to make the Internet of Things a reality in the global heavy industry as well. Talpasolutions enables heavy equipment owners and machine manufacturers in the heavy industry to leverage machine data that would otherwise have been lost.”
Tim Gudelj, Managing Partner at F-LOG Ventures is particularly convinced by the disruptive potential of talpasolutions. He stated: “The data generated by the industry is not yet used holistically today. We observe how other industries benefit from the implementation of Big Data analytics and AI software. In order to successfully advance such change processes, innovative companies like talpasolutions are needed.”