Bengaluru-based a startup Leanworx, focused on transforming manufacturing efficiency through real-time data insights, has raised ₹8.3 crore (approximately $1 million) in a seed funding round.
The investment was spearheaded by YourNest Venture Capital, which contributed ₹6.5 crore, while an angel investor group provided an additional ₹1.5 crore.
This funding is part of the YourNest-SanchiConnect Velocity Program 2024, a platform designed to propel innovative startups through funding, expert mentorship, and access to wider markets. Leanworx plans to leverage the new capital to expand its marketing and lead generation efforts in India and Southeast Asia, as well as to enhance its hardware and software offerings with advanced certifications.
Established in 2017 by co-founders D. Srihari, Bhagavan S. K., and Dasarathi G. V., Leanworx has developed an AI-driven machine monitoring system that delivers real-time data from manufacturing shop floors. This cutting-edge system, built on Industry 4.0 principles, empowers decision-makers by providing actionable insights within one minute—a dramatic improvement over the traditional 24-hour data collection process.
The company’s innovative solutions address a critical need in the manufacturing sector, where machine utilization rates often fall between 30% and 50% due to inefficiencies in data collection. Leanworx’s IoT-enabled, plug-and-play technology eliminates delays and inaccuracies, enabling factories to optimize operations and boost productivity.
The market potential for Industry 4.0 shop-floor monitoring solutions is immense. India alone has over 3 lakh machines in metalworking and 9 lakh machines in FMCG manufacturing, with a global market 60 times larger. Leanworx aims to capture a significant share of this market by driving digital transformation in manufacturing.
With this funding, Leanworx is set to revolutionize the way manufacturing plants operate, ensuring that real-time data becomes the cornerstone of faster, smarter decision-making in the industry.
