talpasolutions to raise €4.5 million from investors led by F-LOG Ventures.

talpasolutions, an Essen, Germany-based software developer for the manufacturing industry, announced that it secured a capital raise round of €4.5 million ($5.5M).

The money was raised from investors led by the logistics investment fund F-LOG Ventures, and including new backer NRW.BANK, RAG Foundation and the existing shareholders High-Tech Gründerfonds (HTGF) and Gründerfonds Ruhr.

The investment will enable the company to further accelerate its expansion in key industries such as mining, construction and logistics. “

talpasolutions, founded in 2016 by CEO Sebastian-Friedrich Kowitz, offers software that connects mobile heavy machinery, collects data, and translates machine data into concrete actionable insights for machine manufacturers and operators. The start-up helps companies around the world to optimize their machine performance, reduce unplanned downtime and improve safety. To do this, the startup uses the full range of data science models.

talpasolutions previously raised €1.5 million in 2018 from Gründerfonds Ruhr, NRW.BANK, Initiativkreis Ruhr and High-Tech Gründerfonds.