Germany’s talpasolutions GmbH has raised more than US$16 million (€15 million) in a series B funding round to expand its heavy vehicle fleet management technology offering and move beyond mining into construction and logistics.
Essen-based talpasolutions, established in 2016, has reportedly connected more than 450 machines in mines, quarries and distributed sites on five continents to its cloud-based software-as-a-Service (SaaS) platform, which “currently processes more data points per second than the German stock exchange”, according to the company.
Users can monitor equipment in real-time and save time and money through detailed diagnostics, predictions and alerts.
“Since the foundation of the company, we have been using our deep know-how in data science and mining engineering to create an ecosystem that brings all stakeholders to the table: fleet operators, machine and component manufacturers,” said talpasolutions CEO and co-founder, Sebastian Kowitz.
MIG Capital led the new funding round. New investors included Robert Bosch Venture Capital, Hannover Digital Investments and New York-based Prospect Mining Studio/newlab Ventures.
Existing investors High-Tech Grunderfonds, Grunderfonds Ruhr, NRW.BANK, RAG Stiftung and F-LOG Venture participated in the financing.
“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,” MIG Capital principal Frederick Michna said.