Bengaluru-based Leanworx, a startup revolutionizing manufacturing productivity through real-time machine monitoring, has raised ₹8.3 crore in its seed funding round. Led by YourNest Venture Capital, the funding includes ₹6.5 crore from YourNest and ₹1.5 crore from an angel investment group.
Fueling Growth and Innovation
The newly secured funds will accelerate Leanworx’s expansion in India and Southeast Asia, with plans to scale marketing, enhance lead generation, and advance product development. Investments will also go toward hardware and software certification, ensuring the platform meets global standards for reliability and performance.
Empowering Manufacturing with Real-Time Data
Since its founding in 2017, Leanworx has been a leader in Industry 4.0 solutions, offering an AI-powered machine monitoring system. This cutting-edge platform provides real-time, actionable data from shop-floor machines, empowering decision-makers to optimize productivity and improve efficiency.
D. Srihari, Director of Sales & Marketing at Leanworx, highlighted the company’s vision:
“Leanworx is enabling some of India’s best-known manufacturing firms to improve their productivity in metalworking. This investment will help us enhance our market reach globally and expand into new industry verticals. Our goal is to consolidate our position and become a dominant player in this sunrise domain in India and Southeast Asia.”
Strategic Expansion Plans
Leanworx is currently connected to 2,000 machines across industries and aims to expand its presence into high-density manufacturing regions such as Thailand, Vietnam, Indonesia, and Mexico. The company also plans to target the FMCG sector, including packaging and plastics, leveraging its proven plug-and-play IoT solutions.
To support its growth, Leanworx is focused on building a robust team, including the recruitment of a Vice President of Sales, Regional Sales Managers, and a Marketing Manager.
Backed by the YourNest-SanchiConnect Velocity Program
This funding round is part of the YourNest-SanchiConnect Velocity Program 2024, an accelerator initiative designed to provide strategic funding, mentorship, and market access to high-growth startups.
Venkat Raju, Venture Partner at YourNest, praised Leanworx’s potential:
“Leanworx Technologies aligns with our vision of backing scalable Industry 4.0 solutions. Their proven plug-and-play IoT system addresses critical inefficiencies in manufacturing. With a clear go-to-market strategy and a vast addressable market, Leanworx is poised for rapid growth and should capture significant market share.”
Tapping into a Massive Market Opportunity
The Industry 4.0 shop floor monitoring market in India includes over 3 lakh metalworking machines and 9 lakh FMCG manufacturing machines, representing a potential annual revenue of ₹3,000 crore in India alone. Globally, the market is 60 times larger, offering a staggering revenue opportunity of ₹1.8 lakh crore.
Leanworx’s scalable, AI-driven solutions position the company to tap into this rapidly growing market, helping manufacturers reduce inefficiencies and drive productivity in an increasingly competitive global landscape.
A Future-Ready Solution for Manufacturing
With this seed funding and strategic support, Leanworx is well-equipped to lead the next wave of Industry 4.0 innovation. Its AI-powered machine monitoring platform is set to empower manufacturers across industries, delivering faster, data-driven decisions and unlocking new levels of productivity.
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