Bengaluru-based startup Leanworx, which helps manufacturing plants get real-time data from their machines, has raised ₹8.3 crore (around $1 million) in a seed funding round.
The funding was led by YourNest Venture Capital, which contributed ₹6.5 crore, along with ₹1.5 crore from an angel investment group.
This funding is part of the YourNest-SanchiConnect Velocity Program 2024, an accelerator initiative aimed at supporting fast-growing startups by providing funding, mentorship, and market access.
The startup plans to use the funds to expand its marketing and lead generation efforts in India and Southeast Asia and improve its product offerings, including hardware and software certifications.
Established in 2017 by D. Srihari, Bhagavan S. K., and Dasarathi G. V., the company provides an AI-powered machine monitoring system that gives real-time, accurate data from shop-floor machines. This data helps managers make faster and better decisions.
Leanworx’s Industry 4.0 cloud-based system reduces the time it takes to access machine data from 24–36 hours to just one minute.
Also Read:
– Cricketer Ajinkya Rahane Invests in Proxgy’s Series A Round
The company’s solution addresses the low machine utilization rates (often just 30%-50%) caused by delays and errors in traditional data collection methods.
Using IoT devices and analytics, Leanworx offers a simple plug-and-play system that makes monitoring efficient and hassle-free.
With over 3 lakh machines in metalworking and 9 lakh machines in FMCG manufacturing in India alone, Leanworx aims to tap into a massive market while solving a critical problem for manufacturers.
