Eziil, a computer software startup has received €1.2M in a funding round held in October 2020. The round included participation from private investors and Enterprise Estonia.
Capital raised will be used to provide more flexibility for project-based industrial companies and to enter the UK market.
Founded in 2016 by Maido Janke, Tiit Remmel and Kaido Karu, Eziil offers production management software for factories/plants that are wanting to increase their productivity through better assistance in work procedures. The startup’s aim is to encourage efficiency in factories by automating work processes such as sales, record, work instruction management and visualizing real-time production summaries. “Without full transparency, you make decisions based on assumptions, not facts. The cost of errors is paid at the expense of your profit,” said CEO Maido Janke.
What makes Eziil’s SaaS platform different from the ones already present in the digital manufacturing software market (which is dominated by ERP (enterprise resource planning) and MRP (material requirements planning based systems) is its step-by-step approach to software deployment and that it can be easily combined with other systems.
Eziil endeavors to meaningfully simplify the development of project-based manufacturing, where the production procedures are still managed physically. The startup is dedicated to making real-time production summary the industry normal.
A €350K investment from Lemonade Stand, Thorgate Ventures, a roster of prominent angel investors, such as Martin Henk (ex-Pipedrive), Taavi Tamkivi (ex-Transferwise, now at Salv) and many regional industry experts were also a part of this funding round.
“Production digitization is a clear trend and the market is rapidly growing. Eziil’s systematic approach to building business processes also shines through in their product and is a strong sign that the team has the right foundations to rapidly grow its client base,” said Siim Teller, the lead investor from Lemonade Stand.
The startup’s cohort of clients includes Cleveron, Sunorek, Arras, Interchemie, Sveba Dahlen, Softrend, among many more. Eliiz had previously raised €300K in a pre-seed funding round held in October 2019 from Superangel and Thorgate Ventures.
About Enterprise Estonia
Enterprise Estonia is an Estonian national foundation whose aim is to develop the economy of Estonia. To achieve the same, it focuses on 3 principal areas of activity: to develop Estonian enterprises and to increase export capacity; to boost tourism; to bring valuable foreign investments to Estonia.
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