Leanworx, a Bengaluru-based startup specializing in real-time machine monitoring solutions for manufacturing plants, has successfully raised ₹8.3 crore (approximately $1 million) in a seed funding round. The investment was led by YourNest Venture Capital, contributing ₹6.5 crore, alongside an angel investment group that provided ₹1.5 crore.

Strategic Expansion Plans

The fresh capital injection is set to bolster Leanworx's marketing and lead generation efforts across India and Southeast Asia. Additionally, the funds will be directed toward advancing product development, including hardware and software certifications. This funding is part of the YourNest-SanchiConnect Velocity Program 2024, an accelerator initiative designed to support high-growth startups through strategic funding, mentorship, and market access.

About Leanworx

Established in 2017 by co-founders D. Srihari, Bhagavan S. K., and Dasarathi G. V., Leanworx offers an AI-powered, cloud-based SaaS solution. The platform provides real-time, actionable data from shop-floor machines to decision-makers, significantly improving operational efficiency. Unlike traditional paper-based data collection methods that can take up to 36 hours, Leanworx delivers insights within a minute.

Market Potential

Leanworx's plug-and-play IoT solution addresses critical inefficiencies in manufacturing, particularly low machine utilization rates that typically range from 30% to 50% due to delays and inaccuracies in traditional data collection systems. By providing near-instant, data-driven insights, Leanworx aims to optimize productivity and operational efficiency.

The Industry 4.0 shop-floor monitoring market in India includes over 3 lakh machines in metalworking and 9 lakh machines in FMCG manufacturing. Globally, the market is approximately 60 times larger. This represents a potential annual revenue of ₹3,000 crore in India and ₹1.8 lakh crore globally.

Leadership Perspective

Venkat Raju, Venture Partner at YourNest, expressed confidence in Leanworx's growth trajectory, stating, "Leanworx Technologies aligns with our vision of backing scalable Industry 4.0 solutions. Their proven plug-and-play IoT system addresses critical inefficiencies in manufacturing. We were impressed by their strong early traction and robust sales funnel featuring industry leaders."

Our Opinion on the News

Leanworx's successful seed funding round underscores the growing demand for Industry 4.0 solutions in the manufacturing sector. By leveraging AI and IoT technologies, Leanworx is well-positioned to address inefficiencies in machine utilization, a critical factor for manufacturers aiming to enhance productivity and competitiveness.

The strategic backing from YourNest Venture Capital not only provides financial support but also brings valuable mentorship and market access, which are essential for scaling operations in the rapidly evolving manufacturing landscape. As Leanworx expands its footprint into Southeast Asia and targets new industry verticals, its innovative approach to real-time machine monitoring could set new benchmarks in manufacturing efficiency and operational excellence.

Source: Entrackr