Bengaluru’s Leanworx secured INR 8.3 Cr in seed funding led by YourNest Venture Capital through its Velocity Accelerator Program 2024
The Industry 4.0 startup, currently connected to 2,000 machines, plans expansion into Southeast Asian markets and the FMCG sector while strengthening its team with key hires
The investment is part of YourNest-SanchiConnect’s larger INR 48 Cr funding initiative across eight DeepTech startups, selected from over 1,280 applications nationwide
Bengaluru-based Leanworx, which empowers manufacturing plants with real-time data, has secured INR 8.3 Cr ($973 K) in a seed funding round YourNest Venture Capital, along with an undisclosed angel investment group.
The startup plans to use the fresh capital to scale up its marketing and lead generation efforts in India and Southeast Asia. It will also focus on product development, including hardware and software certification.
The company aims to expand into high-density manufacturing regions like Thailand, Vietnam, Indonesia and Mexico, as well as target the FMCG sector.
Founded in 2017, Leanworx provides AI-powered machine monitoring systems that deliver real-time, actionable data from shop-floor machines to decision makers.
The startup’s cloud-based SaaS product helps manufacturing plants improve productivity by providing instant machine data compared to traditional 24-36 hour paper-based processes.
“This investment will be used to enhance our market reach, geographically to other countries worldwide, and to other industry verticals,” said D Srihari, director of sales and marketing at Leanworx Technologies.
Currently connected to 2,000 machines across industries, Leanworx will also use the funds to strengthen its team by hiring key personnel, including a Vice President of Sales, Regional Sales Managers, and a Marketing Manager.
The investment comes amid growing focus on Industry 4.0 solutions in India. Earlier this month, SanchiConnect and YourNest announced investments totaling INR 48 Cr across eight DeepTech startups, including Leanworx, through their Velocity Accelerator Program.
Along with Leanworx, the selected startups in the program include Induz, Think Metal, CargoFL, Superfone, and Presage Insights.
The program received 1,280 applications from 23 states and six Union Territories. Other notable AI funding rounds in recent months include Nurix AI’s $27.5 Mn seed round led by Accel and General Catalyst, Assert AI’s INR 30 Cr Series A round, and Febi.ai’s $2 Mn pre-Series A funding. The investments signal continued interest in AI and Industry 4.0 startups across India.
