Luxembourg startup Wizata secures €2.7 million financing to digitize manufacturing with AI

Luxembourg startup Wizata secures €2.7 million financing to digitize manufacturing with AI

Published: 04-06-2020 15:27:00 | By: Bob Koigi | hits: 886 | Tags:

Wizata, the Industry 4.0 Artificial Intelligence (AI) startup from Luxembourg, has raised €2.7 million from the original founders, longtime partner Expon Capital in a round led by two new partners: Volta Ventures and KBC Focus Fund.

Wizata provides an open architecture platform empowering engineers to optimize and automate the production process with AI in real time. Leading companies in the materials sectors are leveraging the Wizata platform to autonomously build and deploy AI directly on their production lines, while keeping data, models and IP under their exclusive control. Wizata customers produce better using less resources, at improved quality and yield while reducing downtimes and energy costs.

Wizata started in 2014 as a service company. After having won the 2017 Microsoft Country Partner of the Year Award for Luxembourg, Wizata raised €1.5 million in 2018 to become a product company.

Volta Ventures targets fast growing internet and SaaS companies in Benelux. KBC Focus Fund is a deeptech VC fund with the ambition to boost the sector of nanotechnology, microelectronics and IoT. Digital Tech Fund fosters long-term innovation and supports the technology startup ecosystem in Luxembourg.

Jean-Philippe Hugo, CEO of Wizata: “The exceptional match of KBC Focus Fund, Volta Ventures, and Expon Capital’s Digital Tech Fund will allow Wizata to become an Industry 4.0 champion that will optimize and digitize manufacturing production processes through AI.”

Koen De Waele, Venture Partner, Volta Ventures: “We are happy to support Wizata’s ambition in driving operational efficiencies in the process manufacturing industry, leveraging their AI technology. This marks the first investment of Volta’s second fund and our first investment in Luxembourg.”

Nuno Carvalho, Investment Director, KBC Focus Fund: “At KBC, we are investing in companies active in the IIoT domain that have the potential to become global players. Wizata is one of these. We see great potential in their open and very scalable platform, which will allow organizations to embrace the Industry 4.0 transformation and implement AI in their manufacturing operations. We are delighted to actively support Wizata through the network and expertise of KBC Group.”

Alain Rodermann, Managing Partner, Expon Capital: “The Digital Tech Fund is proud to have backed Wizata’s founders’ team at the very beginning of the project. The company created a lot of IP and value in 18 months, and has already deployed its product within global industrial corporations. This new funding will accelerate the growth pace of the company.“