Investing in Teeptrak (round 2!), a success story for Industry 4.0
Teeptrak helps industries monitor the performance of their equipment in real-time. And it does a brilliant job at it. Two years after Seed round — and dozens of factories equipped later — we are very excited to take part in their 3M€ Series A, along with EDF Pulse Croissance.
“This is a life changer”
Back in 2018, we secured Teeptrak’s Seed investment on the grounds that:
- Industry 4.0 needs data that is clean, accurate and easy to use.
- Teeptrak offers a tool that is incredibly easy to integrate with industrial operating systems, however sensitive or heavy they are. Factories just need to plug it in to start generating data. Leveraging this data allows them to monitor performance in a matter of days.
- Teeptrak had already convinced top-tier players such as Groupe PSA, Hutchinson, Eolane and or Essilor to use their solutions. These clients were more than satisfied with what they had in hand: as a factory manager once put it, this is a life changer.
An outstanding upsell capacity
The last 18 months were supercharged for Teeptrak. It is now used by over 100+ production units on 4 continents. Because it can be plugged to any equipment, ancient or modern, automated or manual, the solution has become attractive to a very wide range of industries.
What we do love about Teeptrak is its incredible upselling power. With many clients, Teeptrak has spread from a production unit to another, helping very different divisions optimize overall performance. Recently, a global automotive supplier equipped 20 factories at once after leading a successful pilot with one site.
It’s all about trust & performance
EDF partially based their investment decision on their operational divisions’ due diligences. After testing the solution, their sales & technical teams decided to integrate it to EDF’s offers. That this deal started as a business relationship with a top tier industrial player couldn’t make us happier. It also says a lot about the startup’s ability to deliver.
Anyone who works with industrial players will tell you the same thing: this is not an easy playground for startups. Projects take time. There is very little tolerance for errors, even less for bulls***, and a tool that brings more problems than solutions to the table wouldn’t stand a chance. Teeptrak stands by its clients’ side and is here on the long run.
Now scaling into industry 4.0
In the recent months, the startup hasn’t stopped signing new clients, while delivering at the highest degree of performance. The money raised will give them all the firepower necessary to structure teams and keep building offices in Asia and North America, where order books are full and demand is as high as ever. Teeptrak will also focus on new products and features, and continue to help industries transform into 4.0. We couldn’t be more excited to be part of this adventure!
