TALPA Solutions, a leading IIoT (Industrial Internet of Things), analytics and intelligence solution provider for heavy industry, 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, Gründerfonds Ruhr, NRW.BANK, RAG-Stiftung and F-LOG Ventures.
The funding will enable TALPA to enhance its industrial intelligence platform and expand from mining into construction, logistics and other heavy industries. It provides industrial fleet management aftersales solutions to fleet operators and manufacturers in mining and other heavy industries.
TALPA stated: “Heavy industry companies use highly specialised, 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 underutilised. TALPA Solutions’ industrial intelligence platform collects this big data and applies data science models to deliver actionable insights on how to increase asset availability, optimise maintenance, and increase productivity, safety, and sustainability.”
Sebastian-Friedrich Kowitz, CEO and Co-Founder, said: “We supercharge the digitalisation 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.”
Many prominent fleet-intensive businesses including Deutz, GHH Fahrzeuge, and one of the industry’s leading mining tyre manufacturers are already partnering with TALPA Solutions 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 TALPA Solutions’ SaaS-based interface can monitor the machines’ status and predictions in real-time and save time and money through detailed diagnostics and alerts.
Kowitz, adds: “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.”
Dr Ingo Ramesohl, Managing Director RBVC: “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, TALPA Solutions has the potential to become a category defining placer for the heavy industry.”
Frederick Michna, Principal at MIG Capital: “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 TALPA Solutions’ ambitions and look forward to being part of their growth journey.”
