Operations1, the cloud software company for adaptive employee-led production processes, has just announced a new €11.1 million funding boost. The investment which was led by OpenOcean will scale the solution that is enabling manufacturers to analyse and optimise work and processes, freeing up teams to focus on more complex and innovative activities.
Founded in 2017, Operations1 offers software that ensures the long-term resilience of industrial corporations in today’s complex environment. The platform provides processual knowledge, gathers real-time data, and automates time-consuming administrative tasks across operational workflows.
The pandemic has brought about abrupt change across industries, and it’s shown clearly that companies have to be prepared to adapt and to go digital.
Further, while the competitive pressure on industrial companies is rising from increasing customer requirements for product individualisation and seamless documentation, access to skilled labour has become increasingly challenging and complex processes are crashing due to the scarcity of skilled labour.
Frankfurt-founded Operations1 automates time-consuming admin tasks, the cloud-based processual knowledge helps to perform value-adding activities, and data gathered on the spot of process execution can, in turn, be used to optimise the maintenance, quality, assembly or audit processes. Companies, therefore, build up resilience, as they become more flexible and continuously improve the way they operate.
In addition to resilience, Operations1 customers benefit from improved and efficient processes. For example, it’s claimed that customers Bosch, ThyssenKrupp and Trumpf, have already benefited from efficiency gains of up to 20% and up to 55% error rate reductions.
Benjamin Brockmann, CEO at Operations1 commented: “With many manufacturing companies still using paperwork in production today, it comes as no surprise they are struggling to compete against digital-savvy competitors as it blocks the possibility of making data-based decisions for continuous improvements. At Operations1 we empower operational workers and the company through intuitive, highly flexible software that can help navigate the turbulent and ever-changing challenges ahead.”
The fresh investment, which also saw participation from business angels, including Kulpreet Singh and Michael Füllemann, as well as existing investors Cherry Ventures from Berlin and 42cap from Munich getting involved as well, will be used to double the Operations1 team size, expand internationally and invest further in product development.