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Packwise drives expansion and expands market leadership
With its Industrial-IoT solution, Dresden-based Packwise creates transparency in the supply chain of companies in the chemical, food as well as pharmaceutical industry. Founded in 2017, the startup has already received numerous awards and is currently working with 45 industrial customers. Now, Packwise successfully closed the Series-A financing round with a seven-figure euro amount. Investors include Technologiegründerfonds Sachsen (TGFS) and the family offices Hüttenes hoch drei and Golzern Holding.
With the help of the Packwise solution, consisting of a high-precision sensor, the Packwise Smart Cap, and the associated platform Packwise Flow, companies optimize and automate processes via the availability of data on containers and the products they contain. The Packwise solution is also used by companies to reduce administrative work and costs related to supplying their own customers. "With the help of Packwise, production planning is optimized and the quality of products is ensured from filling to removal by the customer. Logistics are made more sustainable and automated reorders are triggered. In addition, our solution makes it possible to offer new services, such as vendor-managed inventory models or consignment warehouses, which represent a significant competitive advantage for customers," describes Packwise CEO Gesche Weger.
The unique combination of hardware that allows easy attachment to liquid containers of various types and sizes with a highly intelligent platform enables Packwise to position itself as a market leader in the field of supply chain digitalization in the process industry. The Packwise Flow platform and its analytics capabilities have been greatly enhanced over the past year. The platform is specifically designed for process industry operations and managing a high number of mobile containers.
With the newly acquired capital, Packwise aims to expand in Europe, further strengthen development and sales partnerships, as well as work on new international markets where business relationships are already underway. Therefore, Packwise is aiming to get its hardware approved for North America and other international markets. In late 2022, Packwise plans to launch the ATEX/IECEx variant of the Packwise Smart Cap, which will enable the solution to be used in explosion-proof areas.
"The Packwise solution enables companies to significantly strengthen the customer-supplier relationship thanks to the establishment of new service models, placing them at the forefront of the industry. The team of specialists has succeeded in demonstrating the relevance of the solution to the market. We are looking forward to further supporting Packwise in the scaling phase", says TGFS Managing Director Sören Schuster about the current transaction.