Industry 4.0 and IoT startup Datanomix secures $2M to grow its manufacturing analytics platform and convert machine data streams from shop floor into actionable insights
Datanomix, a tech startup with focus on the global Industry 4.0 and Industrial Internet of Things (IIoT) digital transformations, has raised $2 million in a fresh round of capital to fuel commercialization and further development of their Fusion product. The round was led by Bruce Sachs, with participation from Wasabi Ventures, York.IE, Alumni Ventures, Argon Ventures, WPI and several local angels.
Founded in 2015 by enterprise data veterans John Joseph (CEO) and Greg McHale (CTO), the Nashua, New Hampshire-based Datanomix offers a manufacturing Analytics platform that combines machine data streams from your shop floor into actionable insights for your top floor. Focused on the global Industry 4.0 and Industrial Internet of Things (IIoT) digital transformations, Datanomix extend value far beyond traditional data visualization and process productivity tools. Datanomix has pioneered a new way to look at productivity in manufacturing environments with their Fusion software. The platform helps manufacturers manage their factory environments through a novel production scoring system, allowing a rapid response to the most pressing problems.
“This is a vote of confidence from our investors for the value that Fusion is bringing to our customers. This new funding will be used to expand our sales and marketing teams with a strong focus on North American customer growth,” says Joseph.
“Working with multiple early adopters, Datanomix has intelligently synthesized process knowledge with the massive amounts of data and information available on the manufacturing floor to increase throughput and quality. As a result, Fusion provides insight and efficiencies to deliver a strong value proposition. John and Greg have assembled a great team that is ready to scale the business and I am excited about the next growth phase for the company,” says Sachs.
“Our ability to deliver a real-time production score to the entire organization has taken us to a whole new level of sophistication in data analytics, improved information flow and closed the time gap between questions and answers. Gone are the days where you are chasing yesterday’s answers – we have set the standard that information is needed about production as it is happening in a way that allows customers to respond intelligently and proactively,” says McHale.
Joseph said: “This is just the beginning for Fusion. Without tipping our hand too much, let’s just say knowing the score at the job level is step one, but there are many more places this real-time scoring concept can be applied going forward. We are excited to share that with our customers in the near future.”
With Fusion fully released and deployments in several states, Datanomix is expanding nationwide at an increasing rate. This round of funding is set to assist with rapid customer expansion in the Midwest, with accounts already in progress in Michigan, the Ohio Valley, and the Pittsburgh-area.