Industrial Manufacturer Datanomix Receives $12M in Funding to Expand Production Intelligence Platform
Datanomix, a leading provider of production intelligence software for industrial manufacturers, has recently announced that it has secured $12 million in funding to expand its platform. The funding round was led by G20 Ventures, with participation from existing investors including North Bridge Venture Partners and Hyperplane Venture Capital.
Datanomix’s production intelligence platform is designed to help manufacturers optimize their production processes by providing real-time data and insights into their operations. The platform uses advanced analytics and machine learning algorithms to analyze data from sensors, machines, and other sources, and provides actionable insights that can help manufacturers improve efficiency, reduce downtime, and increase productivity.
With the new funding, Datanomix plans to expand its platform to support more manufacturing processes and industries. The company also plans to invest in research and development to further enhance its analytics capabilities and improve the user experience for its customers.
“We’re thrilled to have the support of our investors as we continue to grow and expand our platform,” said John Joseph, CEO of Datanomix. “Manufacturers are facing increasing pressure to improve efficiency and reduce costs, and our platform provides them with the tools they need to achieve these goals.”
The market for production intelligence software is expected to grow rapidly in the coming years, as manufacturers seek to leverage data and analytics to improve their operations. According to a report by MarketsandMarkets, the global market for production analytics is expected to reach $9.4 billion by 2023, up from $4.2 billion in 2018.
Datanomix is well-positioned to capitalize on this trend, with a platform that is already being used by leading manufacturers in a variety of industries. The company’s customers include companies in the aerospace, automotive, and consumer goods sectors, among others.
“We’re excited to see the impact that Datanomix is having on the manufacturing industry,” said Lee Hower, co-founder and partner at G20 Ventures. “Their platform is helping manufacturers to unlock the full potential of their data, and we believe that they have a bright future ahead.”
Overall, the funding round is a significant milestone for Datanomix, and a testament to the growing demand for production intelligence software in the manufacturing industry. With its expanded platform and enhanced analytics capabilities, the company is well-positioned to continue driving innovation and growth in this rapidly-evolving market.
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