The Essen, Germany-based SaaS startup talpasolutions has secured €4.5 million in a Series A funding round held in December 2020, led by the logistics investment fund F-LOG Ventures. Other participants in the funding round include NRW BANK, RAG Foundation and existing investors High-Tech Gründerfonds (HTGF) and Gründerfonds Ruhr.
Proceeds from the funding round will permit the startup to further fast-track its strong development in crucial industries such as mining, construction and logistics.
Founded in 2016 by Sebastian-Friedrich Kowitz, Kai Meschede, Artem Zitzer and Philipp Lorenz, talpasolutions is a predictive SaaS analytics provider that connects mobile heavy machinery, collects data, and translates machine data into real actionable insights for machine manufacturers and operators. The startup helps companies around the globe to optimize their machine performance, reduce unexpected downtime and improve safety. In order to do this, talpasolutions uses the full range of data science models.
It focuses on building visualization and analysis applications for the industrial internet.
- The first step involves the recording of large amounts of data from the machines. Comprehensible visualizations enable different stakeholders to understand relationships based on sensor data and background data and to react to serious information, which would otherwise have been lost in the data transfer.
- In the second step, the newest predictive models are implemented to remove events such as errors and the failure of machines important to the process. This increases not only the availability but also the workload of the machines.
The startup has formed a network out of industry allies to develop solutions that span across several sectors and combine industry experience, data science and workflow connectivity. By using analytical instructions, the startup’s platform identifies problems before they occur and supports users with workflow-based processes. Its applications make it possible to gather performance data from machines in order to suggest the best fleet combinations for corresponding scenarios to customers. This results in more functioning hours, higher productivity, and an enhanced lifetime value of the machines.
CEO Sebastian-Friedrich Kowitz said thanks to the investment, the startup is going full throttle into new industries. He also said that over the coming months, they will continue to develop the startup’s platform and work on gaining more international partners and customers. talpasolutions’ goal is to make the Internet of Things a reality in the global heavy industry as well. He concluded by stating that talpasolutions enables heavy equipment owners and machine manufacturers in the heavy industry to utilize machine data that would otherwise have vanished.
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