MIG Capital leads €15 million financing round for talpasolutions with Robert Bosch Venture Capital
- talpasolutions enables companies in mining and other heavy industries to leverage data for improved fleet productivity, safety and sustainability.
- In addition to the new investors, all existing investors are participating in the financing round.
- The start-up will use the funding to enhance its industrial intelligence platform and expand its footprint from mining to construction, logistics and other heavy industry fields.
Munich, 28 March 2023
MIG Capital, one of Germany’s leading venture capital firms, announced today the closing of a Series B financing for Essen, Germany-based start-up talpasolutions. New investors Robert Bosch Venture Capital, Hannover Digital Investments (corporate venture capital unit of HDI Insurance Group) and Prospect Mining Studio/newlab Ventures participated in the round in addition to the MIG funds 2, 4, 6 and 17. Existing investors High-Tech Gründerfonds, Gründerfonds Ruhr, NRW.BANK, RAG Stiftung and F-LOG Venture also participated in the current financing.
talpasolutions provides industrial fleet management solutions for fleet operators and machine manufacturers in mining and other heavy industries. The company helps its customers leverage their data to improve the productivity, safety and sustainability of their machines. The new funding will enable talpasolutions to expand its product offering and move from mining into other industries such as construction and logistics.
The Essen-based start-up is focusing on the potential of Big Data in heavy industries. Companies in these industries use highly specialized, complex and expensive machinery. Maintenance and repair of these machines can create high costs and unplanned downtimes causing annual losses in the billions. In addition to cost savings, modern heavy machinery is equipped with dozens of sensors and generates several gigabytes of sensor data per day, which is under-utilized.
talpasolutions’ Industrial Intelligence platform collects this data and applies data science models and artificial intelligence to provide insights and recommendations on how to increase plant availability and optimize maintenance.
Sebastian Kowitz, CEO and co-founder of talpasolutions, explains: “We supercharge the digitalization of processes in industries that have traditionally been conservative. Since our launch in 2016, we have been using our deep know-how in mining engineering and data science to create an ecosystem that brings diverse stakeholders to the table: fleet operators, machine, and component manufacturers.”
Many well-known fleet-intensive companies such as Deutz, GHH Fahrzeuge and one of the world’s leading tire manufacturers, already rely on talpasolutions to provide full transparency on the functionality of their machines. More than 450 machines in mines, quarries and other locations on five continents are currently connected to the company’s platform, which processes more data points per second than the Deutsche Börse stock exchange.
Users of talpasolutions’ SaaS-based platform can monitor the status and predictions of machines in real time and save significant time and money by receiving detailed diagnostics and alerts.
Frederick Michna, Principal at MIG Capital, explains the commitment: “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. We have been impressed by the company’s talented and diverse team, the technology, and strong partnerships. We are very proud to support talpasolutions’ ambitions and look forward to being part of their growth journey.”
Along with Konux, Wealthpilot and Temedica, talpasolutions is another data-driven start-up investment by MIG Capital. Alongside mbiomics, talpasolutions is the second new investment by MIG in 2023 and is currently the 32nd company in the venture firm’s portfolio.
talpasolutions’ mission is to empower its clients with AI-driven solutions to improve their bottom line and help them achieve their goals by providing state-of-the-art tools for fleet optimization and aftersales management. The company’s predictive data platform includes real-time analytics and advanced algorithms to automate workflows and streamline communication between fleet managers, operators of equipment, and dispatchers. talpasolutions’ AI technology enables predictive maintenance and operations optimization in fleet-intensive industries, ensuring that equipment is always in optimal condition and fleet operations work at the highest level possible.
Additional information is available online at: www.talpasolutions.com and https://www.linkedin.com/company/talpasolutions/
About MIG Capital
MIG Capital is one of the leading German VC investors. MIG invests in young deep tech and life sciences companies in German-speaking Europe and beyond through the MIG funds. The company has so far invested over €680 million in about 50 companies. MIG’s portfolio companies develop innovations in areas such as biopharmaceuticals, energy and environmental technologies, advanced computing, digitization / IoT, medical technology and digital health. The MIG investment portfolio currently consists of 32 companies.
MIG’s investment team consists of a committed group of experts of engineers, biologists, scientists and investors who use analytical and creative processes to evaluate the risks and opportunities of business models and technologies. Their reputation, experience and network provide excellent access to companies, institutions and decision-makers to support the growth of their portfolio companies.
In recent years, MIG Capital realized more than ten successful sales, including more recently the portfolio companies Siltectra (to Infineon, 2018) and Hemovent (to MicroPort, 2021) and led BRAIN (in 2016), NFON (in 2018), BioNTech (in 2019) and Immatics (in 2020) to listings on stock exchanges.
For further information, please visit: www.mig.ag, www.mig-fonds.de
Frederick Michna, Principal, MIG Capital AG
Raimund Gabriel, Dr. Johanna Kobler