Funding

Packwise funding news – IoT Startup Packwise Raises an Undisclosed Seven-Figure Amount of Funding

May 31, 2024 | By Startup Rise EU

Dresden-based IoT startup Packwise raises an undisclosed seven figure amount of funding to drive upcoming internationalisation to North America. The investment for this round is provided by Hüttenes³ GmbH and TGFS Technologiegründerfonds Sachsen.

Dresden-based IoT startup Packwise raises an undisclosed seven figure amount of funding to drive upcoming internationalisation to North America. The investment for this round is provided by Hüttenes³ GmbH and TGFS Technologiegründerfonds Sachsen.

SUMMARY

  • Dresden-based IoT startup Packwise raises an undisclosed seven figure amount of funding to drive upcoming internationalisation to North America.
  • Technology business Packwise GmbH, situated in Dresden, offers a cutting-edge Industrial IoT solution that gives clients in the food, chemical, and pharmaceutical industries supply chain transparency.

The plug-and-play it;s Smart Cap gadget generates novel insights and captures real-time, very precise sensor data on the location, level, temperature, and movement of mobile liquid containers. The platform that goes with it visualises and analyses processes for a range of supply chain applications.

Customers of the company can utilise the Packwise software platform to map various supply chain operations and gain insight into their whole supply chain by building a digital twin of their industrial packaging.

Read also - QOMMUTE funding news – Marseille-based QOMMUTE Secures €2.4 Million in Funding

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Packwise co-founder Felix Weger shared: “We are the market leader in Europe with our technology. The next step is only logical: the way to the USA and Canada.“

According to Packwise Managing Director Gesche Weger: “It improves production planning, ensures product quality from filling to customer withdrawal and promotes more sustainable logistics. It triggers automated reorders and enables the offer of new services such as vendor-managed inventory models or consignment stores that offer customers a significant competitive advantage.”

TGFS Managing Director Sören Schuster shared: “ It has significantly advanced product development since our last investment and opened up new sales channels in North America. We continue to be convinced of the scaling potential and see the demand for the Packwise solution in the market.We are therefore particularly pleased that we can continue to support the excellent Packwise team in this round together with our proven partner H3.”

About Packwise

Technology business Packwise GmbH, situated in Dresden, offers a cutting-edge Industrial IoT solution that gives clients in the food, chemical, and pharmaceutical industries supply chain transparency. With the help of their plug-and-play sensor it Smart Cap and matching application Packwise Flow, they can provide previously unattainable insights into pertinent supply chain data.

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