The Essen-based technology company talpasolutions has now closed a Series A funding round in the amount of 4.5 million euros. The financing round is led by the logistics investment fund F-LOG Ventures, which, like NRW.BANK, is a new investor. Further investors are the RAG Foundation and the existing investors High-Tech Gründerfonds (HTGF) and Gründerfonds Ruhr.
The investment will enable the innovative start-up to further accelerate its strong expansion in key industries such as mining, construction and logistics. “Thanks to the investment, we are going full throttle into new industries,” explains Sebastian-Friedrich Kowitz, co-founder and CEO of talpasolutions. “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 offers software that connects mobile heavy machinery, collects data, and translates machine data into concrete actionable insights for machine manufacturers and operators. The start-up 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. “Talpasolutions enables heavy equipment owners and machine manufacturers in the heavy industry to leverage machine data that would otherwise have been lost,” Kowitz says. “Both the participation of the new investors and the renewed commitment of our existing investors demonstrate confidence that our chosen path is the right one.”
The business model also convinced NRW.BANK: “Talpasolutions has impressive industry-specific technology know-how,” explains Christoph Büth, Head of Equity Financing at NRW.BANK. “The start-up has a product that clearly fits the market, was able to prove this at an early stage of the company’s development and won renowned customers from the mining sector. We see considerable potential and are pleased to support another innovation from North Rhine-Westphalia on its growth path with this investment.”
Tim Gudelj, Managing Partner at F-LOG Ventures is particularly convinced by the disruptive potential of talpasolutions: “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.”