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B2B Funding & Investments

Leanworx Secures ₹8.3 Crore in Seed Funding Led by YourNest Venture Capital

By Saral Groups
-December 30, 2024
0
Leanworx funding news, YourNest Venture Capital, Industry 4.0 startups India, manufacturing IoT solutions, real-time shop-floor monitoring, Leanworx AI system

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Overview of the Funding Round

  • Bengaluru-based startup Leanworx raised ₹8.3 crore (approximately $1 million) in a seed funding round.
  • The funding was led by YourNest Venture Capital, contributing ₹6.5 crore.
  • An angel investment group added ₹1.5 crore to the funding pool.

Part of YourNest-SanchiConnect Velocity Program

Accelerator Program Details

  • Leanworx received the funding under the YourNest-SanchiConnect Velocity Program 2024.
  • The program offers strategic funding, mentorship, and market access to support high-growth startups.

Utilization of Funds

Leanworx plans to utilize the funding for:

  1. Scaling marketing and lead generation efforts in India and Southeast Asia.
  2. Advancing product development, including hardware and software certifications.

Leanworx: Transforming Manufacturing with AI-Powered Solutions

What Leanworx Does

  • Established in 2017 by D. Srihari, Bhagavan S. K., and Dasarathi G. V..
  • Offers an AI-powered machine monitoring system that delivers real-time data from shop-floor machines to decision-makers in under one minute.
  • Aims to replace traditional methods, which take 24–36 hours, with instant actionable insights.

Industry Validation

Venkat Raju, Venture Partner at YourNest, commented:
“Leanworx Technologies aligns with our vision of backing scalable Industry 4.0 solutions. Their proven plug-and-play IoT system addresses critical inefficiencies in manufacturing. We were impressed by their strong early traction and robust sales funnel featuring industry leaders.”

Tapping into a High-Potential Market

Market Scope

  • Indian Market: Over 3 lakh metalworking machines and 9 lakh machines in the FMCG sector, with a potential annual revenue of ₹3,000 crore.
  • Global Market: The Industry 4.0 market globally is estimated to be 60 times larger, with a potential annual revenue of ₹1.8 lakh crore.

Value Proposition

Leanworx’s plug-and-play IoT solution aims to improve machine utilization rates (currently 30%–50%) by providing near-instant, data-driven insights, replacing outdated paper-based systems.

 

Leanworx is leveraging advanced IoT and AI technologies to drive manufacturing efficiency. With fresh funding and a robust support program, it is well-positioned to capitalize on the growing Industry 4.0 market, both in India and globally.

 

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Tags:
business funding Indian startups Industry 4.0 Leanworx Leanworx funding manufacturing startups seed funding India startup funding news venture capital India YourNest Venture Capital

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