Munich, Germany: Remberg, the AI-driven maintenance platform, is expanding significantly in Germany after an oversubscribed Series A+ funding round.
Funding enables the Munich-based company to drive growth in Europe and continue development of its state-of-the-art AI platform that drastically reduces expensive unplanned machine downtime for industrial customers.
Key investors Acton Capital and Oxx led the round, with ongoing participation from Earlybird, Speedinvest and Fly Ventures. The new round of capital raises Remberg´s total funding to €28 million and demonstrates strong belief in the company´s technology and vision.
Remberg’s cutting-edge technology uses artificial intelligence for predictive maintenance, real-time support and simplified maintenance processes.
It does so by joinging to equipment on the factory floor with QR codes and providing an AI assistant that maintenance teams can use to troubleshoot problems in minutes using that asset’s history’s data and documentation.
This preemptive action slashes the number of down-times to the minimum possible and improves maintenance work thereby meeting a major demand in the European industrial sector, which suffers an estimated loss of €500 billion per year from unscheduled downtime.
David Hahn, CEO and co-founder of Remberg stressed the importance of the expansion: “We’re creating the AI era’s leading maintenance platform to secure the competitiveness of the European industrial sector.
Europe requires its own solutions in that vitally important software category, particularly when it comes to a backbone of our economy: manufacturing, industrial infrastructure and sensitive data.”
Remberg’s platform is built to be compatible with current IT set up, and to modernize or replace dated maintenance systems. Its mobile capability also enables key information to be at the fingertips of maintenance/shop-floor personnel with the ability to provide data for online and even offline mode use.
Today, More than 150 industrial companies, such as SCHUNK, and brand-name companies, such as Edding, use the Remberg platform to manage approximately one million assets.
The additional funding will be used to further develop advanced AI features, such as improved predictive maintenance capabilities, more rapidly. Also, Remberg plans to rapidly expand its sales and marketing activities throughout Europe’s key markets and gain a stronger foothold in the AI-driven maintenance solutions market.
“Despite the rapid adoption of digital maintenance platforms in the US market, no comparable modern AI-driven solution has emerged in Europe that is tailored to its unique industrial requirements, including data protection and the varying degrees of digital readiness on the continent,” say industry analysts.
Remberg is well-positioned to bridge the gap, providing a solution that not only harnesses the potential of AI, but does so in a way that recognises how distinctively European the industrial landscape is.
This extension is considered to bring a substantial qualitative improvement in the efficiency and productivity of German and European industrial enterprises.
