talpasolutions raises €15mn in a Series B to boost industrial intelligence in heavy industry
March 28, 2023
- talpasolutions is key enabler for customers in mining, construction, and logistics towards a fully optimized, safe, and sustainable equipment fleet.
- The financing round is led by Bosch Ventures and MIG Capital with the participation of all existing investors.
- The company will use this financing to enhance its industrial intelligence platform and expand its footprint from mining into construction, logistics and other heavy industries.
- HTGF has been invested in talpasolutions since 2018.
Essen, Germany – talpasolutions, a leading IIoT (Industrial Internet of Things), analytics and intelligence solution provider for heavy industry, is announcing today it has raised €15 million in Series B funding led by Bosch Ventures and MIG Capital. The round included participation from new investors Hannover Digital Investments (corporate venture capital investor of HDI Group) and Prospect Mining Studio / newlab Ventures, as well as from existing investors High-Tech Gründerfonds (HTGF), Gründerfonds Ruhr, NRW.BANK, RAG-Stiftung and F-LOG Ventures. HTGF was the first investor in the seed round in 2018, together with Gründerfonds Ruhr, and has accompanied its development in recent years. The funding will enable talpasolutions to enhance its industrial intelligence platform and expand from mining into construction, logistics and other heavy industries.
The power of big data in heavy industry
talpasolutions provides industrial fleet management aftersales solutions to fleet operators and manufacturers in mining and other heavy industries. Heavy industry companies use highly specialized, complex, and expensive equipment. Maintenance and repair are major cost items, and unplanned downtimes cause multi-billion-dollar losses every year. However, modern heavy machines are equipped with dozens of sensors and generate up to multiple gigabytes of sensor data per day that are currently underutilized. talpasolutions’ industrial intelligence platform collects this big data and applies data science models to deliver actionable insights on how to increase asset availability, optimize maintenance, and increase productivity, safety, and sustainability.
We supercharge the digitalization of processes in industries that have traditionally been conservative. Since our launch in 2016, we have been using our deep know-how in mining engineering and data science to create an ecosystem that brings diverse stakeholders to the table: fleet operators, machine, and component manufacturers.
Sebastian-Friedrich Kowitz, CEO and co-founder of talpasolutions
Many prominent fleet-intensive businesses including Deutz, GHH Fahrzeuge, and one of the industry’s leading tire manufacturer are already partnering with talpasolutions to gain full transparency of their equipment function. More than 450 machines in mines, quarries, and distributed sites on five continents are already connected to the company’s platform which currently processes more data points per second than the German stock exchange. Users of talpasolutions’ SaaS-based interface can monitor the machines’ status and predictions in real-time and save time and money through detailed diagnostics and alerts.
This significant financing round is a great validation for our mission to drive efficiency, safety, and productivity in fleet-intensive operations through actionable insights and workflow integration. Our team is excited to continue leveraging the potential of IIoT and AI with the support of our strong new and existing investors. Together, I am sure that we will deliver tremendous value to our customers across the globe.
Sebastian-Friedrich Kowitz, CEO and co-founder of talpasolutions
The wave of connectivity and advanced analytics for heavy equipment is yet to come and talpasolutions complements the existing and established activities of Bosch Rexroth. With its advanced analytics platform, talpasolutions has the potential to become a category defining placer for the heavy industry.
Dr. Ingo Ramesohl, Managing Director RBVC
Heavy industry is at a tipping point towards a data-driven future, and we believe talpasolutions is well positioned to become a major player in this transformation. We have been impressed by the company’s talented and diverse team, the technology, and strong partnerships. We are very proud to support talpasolutions’ ambitions and look forward to being part of their growth journey.
Frederick Michna, Principal at MIG Capital
As a seed investor, I have been supporting talpasolutions for 5 years and am very impressed with the development so far. Despite a challenging macroeconomic environment, talpasolutions has managed to win customers all over the world in a very capital-efficient manner. This is only possible with a strong product-market fit and is validated by the conclusion of Series B with top investors.
Christian Ziach, Principal at HTGF
talpasolutions’ mission is to empower its clients with AI-driven solutions to improve their bottom line and help them achieve their goals by providing state-of-the-art tools for fleet optimization and aftersales management. The company’s predictive data platform includes real-time analytics and advanced algorithms to automate workflows and streamline communication between fleet managers, operators of equipment, and dispatchers. talpasolutions’ AI technology enables predictive maintenance and operations optimization in fleet-intensive industries, ensuring that equipment is always in optimal condition and fleet operations work at the highest level possible.
About Bosch Ventures
Bosch Ventures is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. Bosch Ventures invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. Bosch Ventures also invests in services and business models that are relevant to the above-mentioned areas of business. Furthermore, Bosch Ventures enables co-innovation between Bosch and start-up through the Open Bosch Program.
Additional information is available online at: www.rbvc.com
+49 711 811-18583
About MIG Capital
MIG Capital is one of the leading German VC investors. MIG invests in young deep tech and life sciences companies in German-speaking Europe and beyond. The company has so far invested over €680 million in about 50 companies. MIG’s portfolio companies develop innovations in areas such as biopharmaceuticals, energy and environmental technologies, advanced computing, digitization / IoT, medical technology and digital health. The MIG investment portfolio currently comprises 30 companies.
Additional information is available online at: www.mig.ag
Raimund Gabriel, Dr. Johanna Kobler
About Hannover Digital Investments
Hannover Digital Investments GmbH (HDInv) is a venture capital investor and partner for young, innovative companies specializing in digital solutions and services. Under the umbrella of the HDI Group, Hannover Digital Investments contributes the financial strength and experience of one of Europe’s largest, globally operating insurance groups. The focus of HDInv is on financial investments from seed to Series C in the areas InsurTech, Ecosystems (Cyber Security, IoT), Data Analytics and AI.
Additional information is available online at: https://www.hannover-digital-invest.com/en/homepage
Phone: +49 511-3747-2128
About High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances tech start-ups with growth potential and has supported 700 start-ups since 2005. With the launch of its fourth fund, HTGF now has about 1.4 billion euros under management. Its team of experienced investment managers and start-up experts support young companies with expertise, entrepreneurial spirit and passion. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. To date, external investors have injected more than 4.5 billion euros of capital into the HTGF portfolio via more than 2,000 follow-on financing rounds. In addition, HTGF has already successfully sold shares in more than 160 companies.
Fund investors in this public-private partnership include the German Federal Ministry for Economic Affairs and Climate Action, KfW Capital and 45 companies from a wide range of industries.
High-Tech Gründerfonds Management GmbH
Stefanie Grüter, Partner Communications & Relations
T.: +49 228 – 82300 – 188
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