Dresden-based industrial tech startup Packwise closes pre-series A funding
Packwise expands its international business and sets new digital supply chain standards for Process Industry management
Packwise enables companies in the chemical and food industry to quickly and easily digitise their supply chain and reduce their carbon footprint through its Industrial Internet of Things (IIoT) solution. Founded in 2017, the startup has now successfully closed a seven-figure Euro pre-series A funding round. Investors include Technologiegründerfonds Sachsen (TGFS) and the family-run businesses Hüttenes hoch drei and Golzern Holding.
Packwise specialises in interconnecting industrial packaging and offers its customers a hardware-enabled Software as a Service (SaaS) solution. By creating a Digital Twin of their industrial packaging, Packwise customers gain transparency along their supply chain and can map a wide range of supply chain processes using its Packwise Flow software platform. "In addition to automating processes, such as reordering and ensuring product quality many of our customers focus on reinventing themselves in the area of customer service," said Packwise Chief Executive Officer Gesche Weger. The startup's solution offers new, customer-oriented approaches to both inventory management and container logistics.
Packwise’s hardware-enabled SaaS solution has been developed in close cooperation with medium-sized companies and global players in the Process Industry to meet their specific application and implementation requirements. Packwise’s existing cooperation with German industrial group Diehl and Swedish sensor manufacturer Acconeer will continue and intensify in the future.
The newly-acquired capital will be used to further develop the Packwise Flow platform, accelerate Packwise’s growth in the European market, establish sales partnerships, and prepare its market launch in North America. The Packwise team will continue to expand following significant growth in recent months across its development and sales divisions.
"Due to its strong focus on the management of mobile containers and high-volume container fleets, Packwise has the potential to drive the digitalisation of the Process Industry internationally and on a large scale. We are extremely pleased that we can continue to support the excellently positioned Packwise team to successfully realise this potential," said TGFS Managing Director Sören Schuster, commenting on the investment.
Last year, technology created by Packwise was awarded the IQ Innovation Prize for Central Germany. The startup is currently involved in a joint project with RWTH Aachen University and Zentis, funded by the German Federal Ministry of Food and Agriculture, which will see the implementation of applications specific to the food industry over coming months. Packwise has been nominated for the German Innovation Award 2021 as part of a joint customer project with BASF and Hesse Lignal.