France-based Braincube, a smart Industrial Internet of Things (IIoT) platform suite with expert and business apps for manufacturers, announced that it has secured €83M in a growth round of funding.
Laurent Laporte, Founder and CEO at Braincube says, “We are delighted to be partnering with SEP, one of Europe’s leading growth equity investors in software companies, and Bpifrance, one of France’s leading investors.”
“It is clear that in SEP and Bpifrance we have found long-term supportive partners who can help Braincube continue its global growth journey.”
A smart IIoT platform
Founded in 2007, Braincube is an Industrial Internet of Things (IIoT) platform that aids manufacturers in enhancing profits through data-driven insights.
The platform leverages AI to optimise production lines, resulting in significant savings of over $10B for customers and a reduction of 2.5 million tonnes in carbon emissions.
Braincube’s software is deployed in manufacturing sites across 35 countries, with a focus on various sectors, including food and beverage, pulp and paper, building materials, and tires and plastics. Its clients include Bridgestone and International Paper.
The company claims to have grown in recent years and has over 250 employees across its operations in France, Europe, the US and Brazil.
Braincube founder Laporte says, “At Braincube, we envision a world where every factory can operate at peak efficiency. Through using Braincube, manufacturers can successfully achieve their Industry 4.0 vision.”
Brief about the investors supporting Braincube
SEP’s investment was spearheaded by Angus Conroy, Andrew Davidson, and Arpit Prasad, while Bpifrance’s investment was led by Luc Heinrich and Mathilde Meunier Garcia.
Angus Conroy, a partner at SEP says, “Braincube is an impressive business, with a complex and IP-rich product, excellent customers, and a track record of strong growth. The company has a leading position in a market that benefits from strong tailwinds, as manufacturers embrace Industry 4.0.”
“There is excellent cultural alignment between Braincube and SEP, and we are excited to partner with the team for the next stage of growth,” adds Conroy.
SEP is a growth equity investor specialising in fast-growing technology companies. It offers extensive experience, knowledge, and a global network to founder-led management teams. SEP supports companies from investment to exit, focusing on software and tech-enabled ventures with innovative solutions. It has invested in over 160 companies.
Bpifrance, a public investment bank, provides support to companies at every stage, from start-up to stock market listing, offering tailored financing and investment solutions in each region.