Venture capital money continues to be available for some manufacturing software—especially when it relates to data management and analysis. Braincube has raised €83 million of growth equity investment. The investment was led by Scottish Equity Partners (‘SEP’).
Braincube’s Industrial Internet of Things (‘IIoT’) platform helps manufacturers increase their profits using data insights to improve quality, productivity, and sustainability in their factories. Production line optimisations, resulting from Braincube’s use-case driven framework and proprietary AI, have already saved customers more than $10 billion, and have reduced carbon emissions by 2.5 million tonnes.
The company has grown strongly in recent years, and now has over 250 employees across its operations in France, Europe, the United States, and Brazil. Its software is used on manufacturing sites across 35 countries. Braincube’s customer base spans several manufacturing verticals, with a particular specialism in the food and beverage, pulp and paper, building materials, and tires and plastics sectors. Customers include leading global manufacturing companies such as Bridgestone and International Paper.
“We are delighted to be partnering with SEP, one of Europe’s leading growth equity investors in software companies, and Bpifrance, one of France’s leading investors. It is clear that in SEP and Bpifrance we have found long-term supportive partners who can help Braincube continue its global growth journey,” said Laurent Laporte, Founder and CEO at Braincube.
SEP’s investment was led by Angus Conroy, Andrew Davidson, and Arpita Prasad. Angus Conroy, a Partner at SEP, said, “Braincube is an impressive business, with a complex and IP-rich product, excellent customers, and a track record of strong growth. The company has a leading position in a market that benefits from strong tailwinds, as manufacturers embrace Industry 4.0. There is excellent cultural alignment between Braincube and SEP, and we are excited to partner with the team for the next stage of growth.”
Bpifrance’s investment was led by Luc Heinrich and Mathilde Meunier Garcia. Luc Heinrich, Managing Director of Bpifrance Equity MidCap fund added: “We have been impressed by the team and what they have achieved so far. Braincube operates at the intersection of AI and Industry, two major themes for Bpifrance. We are excited to work with the team in this next phase of growth”.
Clipperton served as the exclusive financial adviser to Braincube on the transaction. Prior to this transaction, Braincube has been successfully supported by IRIS Capital and Next47.