By Tech.eu
Dresden-founded IoT startup Packwise has raised an undisclosed seven-figure amount to drive upcoming internationalisation to North America.
Founded in 2017, the company offers an innovative industrial IoT solution that enables customers in the chemical, pharmaceutical and food industries to gain transparency along the supply chain. Customers include BASF, Merck and Solvay.
The Packwise Smart Cap plug-and-play device creates new insights and records sensor data on the location, level, temperature and movement of mobile liquid containers with high precision in real-time. The accompanying platform visualises and analyses processes for various applications in the supply chain.
By creating a digital twin of their industrial packaging, customers of the company gain insight into their entire supply chain and can use the Packwise software platform to map a variety of supply chain processes.
Packwise co-founder Felix Weger shared:
“We are the market leader in Europe with our technology. The next step is only logical: the way to the USA and Canada.“
According to Packwise Managing Director Gesche Weger:
“Packwise improves production planning, ensures product quality from filling to customer withdrawal and promotes more sustainable logistics. It triggers automated reorders and enables the offer of new services such as vendor-managed inventory models or consignment stores that offer customers a significant competitive advantage.”
This current round of funding comes from TGFS Technologiegründerfonds Sachsen, together with Hüttenes³ GmbH.
TGFS Managing Director Sören Schuster shared:
“Packwise has significantly advanced product development since our last investment and opened up new sales channels in North America. We continue to be convinced of the scaling potential and see the demand for the Packwise solution in the market.
We are therefore particularly pleased that we can continue to support the excellent Packwise team in this round together with our proven partner H3.”
Lead image: Packwise. Photo: uncredited.