ThingTrax Raises $1m to Build the Autonomous Factories of the Future
- Using a combination of cloud computing, Internet of Things (IoT), and Artificial intelligence (AI), ThingTrax is already working with factories across the world to turn them into smart manufacturing hub
- Amid the COVID-19 crisis, ThingTrax has developed new solutions that enable manufacturers to adhere to social distancing guidelines and spot if someone might have the virus
- This investment round was led by SuperSeed and will be used to expand the company’s customer base, as well as its technical and sales teams
London, UK 25 June 2020: ThingTrax, a provider of smart technology solutions for the manufacturing industry, has today announced the close of a $1m seed round led by SuperSeed, investing alongside industrial specialist Sumaria. Founded in 2015, the company has been working with manufacturers around the world to turn their unconnected factories into smart manufacturing hubs. Using cloud computing, IoT, AI, and most recently computer vision, to connect machines, workers, and robotics to improve efficiency.
ThingTrax was co-founded by Aman Gupta, previously an Associate Partner at IBM responsible for digital transformation strategy for European manufacturing and supply chain companies, and Imran Shafqat, a former Microsoft employee with 17 years’ experience in cloud architecture.
The company is already working with factories across plastics, automotive, FMCG, medical, and packaging, around the world. This investment will be used for further growth and hiring for tech and commercial positions.
ThingTrax’s solution connects factories from end-to-end to make them safer, more efficient, and for management to make intelligent decisions. A Smart Manufacturing Platform provides one cloud-based dashboard connected to wireless devices and sensors, allowing users to quickly connect with, manage, and analyse many aspects of the manufacturing floor. This can be connected to its Smart Vision System, which uses intelligent image processing with AI analysis to find and track everything from products to workers in complex environments.
ThingTrax’s plug and play devices can be fitted by factory engineers and then immediately connected to its Smart Manufacturing Platform. This makes it easier to provide its services to customers around the world, remotely.
In recent months, ThingTrax has expanded it's Smart Worker Solution based on requests from customers looking to operate during the Covid-19 pandemic. This allows manufacturers to operate in line with new Government regulations and enables customers to track if workers are socially distancing from one another and are PPE and face-mask compliant. It also provides; contact-tracing, to track who or what any employee or visitor suspected of having coronavirus has come into contact with so that others can then self-isolate; and a thermal sensor to take a worker’s temperature when starting, ending and mid-shift, to detect if someone is at risk of having the virus.
Aman Gupta, Co-Founder of ThingTrax, commented: “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 is 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.”
Mads Jensen, a Managing Partner of SuperSeed, added: “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.”
ThingTrax was part of the Startup Bootcamp IoT accelerator run by Cisco and University College London. ThingTrax is a preferred partner for Microsoft and an official AI partner in the Edge Solution category for Intel. The team of 20 is based in London.
For more information go to https://www.thingtrax.com/
... to Editors
Video: Case study of RGE Group & ThingTrax, from Microsoft
Awards & Programmes:
- Inaugural Interplas Innovation Award, 2017
- Startup Bootcamp IoT Accelerator Programme, 2017
Kieran Tharme, Operation Director, RGE GROUP
“ThingTrax’s Vision System helps us build a comprehensive skills matrix of our workforce, and ensures we have the right person doing the right job so we save money, improve quality, and reduce accidents.
ThingTrax’s Covid-19 enhancements further help us keep our people safe, which proves that we have invested in the right technology partner”
Berry BPI, Fortune 500 company, and largest manufacturer of plastic packaging “The ThingTrax system has been instrumental for Berry bpi, Bromborough to operate in a highly process led, and target driven manufacturing environment. Its USP in being able to remotely access live machine data and pinpoint complications has enabled us as a business to operate very efficiently and ultimately as profitably as possible.”
Akshay Shah, Group Managing Director, Silafrica
“The next frontier for efficiency in plastics manufacturing is through Industry 4.0 technology to monitor equipment, materials, energy, water, and manpower performance. Having evaluated many Industry 4.0 solutions, we found ThingTrax to have a perfect balance of seamless hardware integration, highly agile software, and an attractive price point that provides quick wins and high ROI for customers.”
Press Kit: Here
Cathy White, CEW Communications for ThingTrax
ThingTrax was founded in 2015 to help manufacturers transform the way their labour, processes, and machinery connect. Dedicated to building the autonomous factory of the future, using cloud computing, IoT and AI, its mission is to turn the 80 percent of unconnected factories worldwide into smart manufacturing hubs; connecting machines, workers and robotics to
improve efficiency, increase worker safety, reduce costs, and drive productivity.
SuperSeed backs ambitious, technical founders of B2B software companies and supports them in building global winners through a world-class marketing & sales model. The London based VC fund was launched by Mads Jensen and Dan Bowyer in 2018. The team began investing in 2019 and has since backed eight companies to date in areas of enterprise and industrial
automation, smart cities, and healthcare data.