German technology company talpasolutions raises €4.5M
Essen-based talpasolutions has raised a €4.5 million Series A funding led by the logistics investment fund F-LOG Ventures. NRW.BANK, RAG Foundation and the existing investors High-Tech Gründerfonds and Gründerfonds Ruhr also participated.
Founded in 2016, talpasolutions is an AI and IoT-based analytics provider for the heavy industry including mining, construction, agriculture, and logistics. According to the company, the heavy industry uses less than 1% of its data, wasting a lot of opportunities within the value chain from machine manufacturers to machine users.
To make other 99% of data accessible, understandable, and profitable, talpasolutions offers operators and machine manufacturers software. It collects machine data from sensors embedded in assets, construction software, ERP, and other contextual data sources, and transforms it in actionable insights of how to optimize machine performance, reduce breakdowns, and improve safety.
“Thanks to the investment, we are going full throttle into new industries,” Sebastian-Friedrich Kowitz, co-founder and CEO of talpasolutions, explains. “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.”