Witrac is a Valencia-based company specialising in wireless and positioning technologies.
This Spanish company has just sold part of its shares in a €3m round to boost its international expansion.
It has done so to new investors such as Goldacre, Alma Mundi Ventures, and Clave Mayor (Global), through its funds Tech Transfer Ventures and Mondragón Fondo de Promoción.
Locating in real time and wirelessly any industrial asset both inside and outside the factory might seem like a no-brainer.
However, this is a historical shortcoming in both manufacturing and production.
Until the internet of things, or, in other words, the era of the connected everything.
It is precisely one of the Start Ups that has bet everything on this technology.
Witrac is specialist in location and sensor solutions for the internet of things and artificial intelligence for industry.
It offers a complete solution that includes different advanced IoT sensor devices and an artificial intelligence platform.
It has a proprietary algorithm based on artificial intelligence and the "artificial intelligence".machine learning" call Witrac Core.
It allows you to capture data and analyse it to drive automation and advanced insights.
The agility and flexibility demanded by organisations in their daily operations means simplifying technological deployment and making increasingly efficient use of real-time data.
According to the company's philosophy, it is necessary to give companies visibility, traceability and full control, and to automate processes.
They must also detect trends and predict changes in their value chain.
By turning data into a strategic tool inside and outside the organisation, this results in a competitive advantage.
Since its founding in 2012, Witrac technology has found its way into the plants of more than 50 customers, including Ford, Mercadona, Carrefour, Volkswagen or Porcelanosa.
Very recently, in mid-December, the company sold part of its shareholdings in a new company, the round valued at 3M€.
It has done so to new investors such as funds Goldacre Ventures and Mundi VenturesThey will consequently become part of the startup's board of directors.
He has also participated in the operation, Major Keythrough its funds Tech Transfer UPV and Mondragon Promotion Fund.
The aim of the operation is to support the company's expansion in Europe and the US, as well as to strengthen its presence in strategic sectors such as logistics and automotive.
Specifically, the main objectives are twofold:
In addition, this sale will also enable Witrac to accelerate the technological development of its products hardware and softwarein key areas such as analytics and advanced data processing.
Pulpomatic is a fast-growing software start-up focused on changing the way companies manage their vehicle and fleet operations.
It has a cloud-based software solution that helps businesses save time and money, make better decisions and work more efficiently.
Launched in 2016 as a Mexican-Spanish company specialising in vehicle managementhas just sold part of its shareholding in the company for 5M€ for their growth.
Founded in 2013, Quipu is a cloud-based financial management and invoicing software.
It is specially developed to simplify the accounting process for new companies.
It aims to minimise the time spent by the self-employed and SMEs on administrative management.
In order to achieve its so-called "management of the future", it recently sold part of its equity in a round valued at 2M€.
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