Richard Büssow interviewed by Ambivation
Seed Round
Industrial Analytics successfully completes seed funding
About Industrial Analytics
Industrial Analytics is an AI-IoT company that offers online condition monitoring for machines and plants in the process industry. The company's founders previously worked for several years at MAN Diesel & Turbo, a turbomachinery manufacturer. Prof. Friedrich of the Hasso Plattner Institute (HPI) is also a co-founder. There is close cooperation with the HPI in Potsdam in the field of machine learning. The vertical solution developed by Industrial Analytics, especially for large turbomachinery, covers both data acquisition and pre-processing as well as the integration into an existing IT infrastructure and data evaluation. The main innovation of this solution is the integration of acoustic and vibration signals as well as the use of physical models of machines and plants. With the “TurboMonitor”, operators can reduce their operating costs by operating their plants more efficiently and optimizing maintenance and repair.
The early-stage funding with a seven-figure amount was carried out in open form jointly in equal parts by Senovo, an experienced venture capitalist for B2B and SaaS business models (Software-as-a-Service) and BFB Brandenburg Kapital GmbH. In addition to the HPI Seed Fund a Business Angel are also involved in the company. Industrial Analytics uses offices in the SAP Data Space.
"We are pleased that we were able to secure Senovo and Brandenburg Kapital as investors. This strengthens the trust of our customers and gives us the opportunity to further expand our operational business," says Anja Vedder, co-founder and managing director of Industrial Analytics.
"Digitalization is a huge challenge for the industry. It is becoming increasingly apparent that the combination of data-driven approaches and deep experience in industrial plant monitoring are the key factors for the successful realisation of efficiency gains. That is why we are delighted to be able to accompany the highly experienced Industrial Analytics team on this journey," says Markus Grundmann of Senovo.
About Senovo
Senovo is a Munich and Berlin based venture capital firm focused on early-stage B2B SaaS investments. SaaS business models will change and dominate the B2B software market. Senovo finances outstanding entrepreneurs and teams that develop market-leading products in this dynamic environment and usually gets involved shortly after product launch.
About BFB Brandenburg Kapital GmbH/ Investment Bank of the State of Brandenburg
The Investitionsbank des Landes Brandenburg (ILB) manages various investment funds that finance growth- and innovation-oriented companies based and/or operating in Brandenburg. The fund’s resources for the early-stage and growth fund set up on behalf of the Brandenburg Ministry of Economic Affairs are currently provided from funds of the European Regional Development Fund and from the ILB's own funds. To date, ILB's investment activities have helped more than 200 companies grow with a support of around EUR 220 million. Around 8,400 modern workplaces have been created or secured. The funds managed by ILB cover the entire spectrum from venture capital financing in the start-up phase and early growth phase to mezzanine financing for established medium-sized companies. In addition, private investors have so far invested more than 400 million euros in the companies.
About HPI Seed Fund
Founded in autumn 2015, the HPI Seed Fund complements the services of the HPI School of Entrepreneurship by providing initial financial support for start-up projects. Since its launch, 17 investments have been made in HPI start-ups, most of them in the B2B sector.
