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Based out of Munich, ProGlove develops smart gloves that enable manufacturing and logistics staff to work faster, safer, and more comfortable. Recently, the company has raised €36 million from global growth equity firm Summit Partners.
Dr. Matthias Allgaier, Managing Director at Summit Partners, says:
At Summit, we focus on partnering with companies that have the team, technology, and vision to define the categories in which they operate.
With this funding, ProGlove is planning to expand its international footprint and support its mission to connect the human workforce with the Industrial Internet of Things (IIoT).
Raised €44.5M so far!
Founded by Alexander Grots, Jonas Girardet, Paul Günther, and Thomas Kirchner in 2014, the company has so far raised around €44.5 million in funding over six rounds.
Develops industrial wearables!
For the uninitiated, ProGlove develops industrial wearables. The smart solutions of the German headquartered company are used by renowned organizations in manufacturing, production, logistics, and retail, including Audi, BMW, Bosch, Daimler, DHL, and Lufthansa Technik.
Reduces scanning time by four seconds!
Through its wearable barcode scanning solutions, process steps can be documented hands-free, giving instant feedback to the user via optical, haptic, and acoustic signals. This allows users to reduce scanning time by up to four seconds per scan.
ProGlove’s IIoT wearables are an almost natural extension of the workers’ tools, giving them a decisive edge by strengthening their role in the digitized industry 4.0. The ergonomic design and the plug & play approach keep the entry barriers for users extremely low.
Andreas Koenig, CEO at ProGlove, said:
What sets us apart from other industry 4.0 players is our belief in the human worker, we believe that our Industrial IoT solutions have an immediate impact.
Man and machine collaboration
While others concentrate on making machines and robots more efficient, ProGlove focuses on the human worker, emphasising more on man and machine collaboration to be precise. Furthermore, Koenig mentioned four reasons to believe in a Smarter Workforce and Industrial IoT.
Reason #1: A world-class team of investors backs the company.
Reason #2: This German company generates stable revenue streams in the automotive sector, logistics, as well as retail and e-commerce. He also hinted at the untapped potential in the health sector as well.
Reason #3: Koenig is confident about his company’s track record of identifying untapped pools of efficiency, ergonomics, and security amid the looming threat of a global recession and other factors.
Reason #4: Lastly, CEO of ProGlove bets highly on innovations they are about to bring for wearable display, the cloud-based software solution, and other products for a smarter workforce.
Main image credit: ProGlove
Stay tuned to Silicon Canals for more updates in the tech startup world.
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