KFactory, the first digital platform focused on performance increasing and productivity optimization for manufacturing companies, developed by a Romanian startup, will receive 215,000 Euro funding for the development and the implementation of the business plan in the coming years. The financing is coordinated by Sparking Capital, as Lead Investor, in partnership with the equity crowdfunding platform SeedBlink and private angels.
KFactory target covers manufacturing companies focused on increasing the performance of industrial machinery and operators, all of which resulting in increased profitability. Based on concepts like Industrial Internet of Things (IIoT) and Machine Learning, combined with the IT and Manufacturing experience of its Founders, KFactory managed to increase the performance for its customers by up to 25%, while providing an affordable monthly subscription model (SaaS).
The platform monitors and learns how industrial equipment, operators, orders and support teams behave and interact during the production process, therefore managers can have full visibility over the entire process and can make quick and informed decisions.
“KFactory covers a basic need of any manufacturing company, whether it is automotive, machine production, pharma, plastic, wood processing, food&beverages, textile or other industries. As a development direction, in the second half of 2020 we will launch new functionalities that will add more value to the industry, such as quality management, predictive maintenance and augmented analytics.” Adrian Dima, KFactory co-founder (photo left).
“Digitalization is no longer an option for any company, it becomes a business obligation and some of the manufacturers work will move online and remote. This will happen for administrative staff who can capitalize on work from distance, even if the manufacturing industry is historically more conservative. We want the next year to expand at European level, with Spain, France and Germany as our main targets, KFactory already having presence in Romania and Portugal.” Vlad Cazan, KFactory co-founder (photo middle).
A member of KFactory Advisory Board is also Dragoş Metea (photo right), an entrepreneur with over 15 years of experience in multicultural environments, from large corporations to startups.
Sparking Capital coordinated the financing process and is a private venture capital fund. The fund makes pre-seed and seed investments in innovative companies in industry 4.0, property tech, circular economy, tech marketing, digital transformation, and sustainability.
Cristian Negruțiu, Co-Founder & General Partner Sparking Capital: “Investing in KFactory is a premiere on the Romanian market, being the first financing of an Industry 4.0/Smart Manufacturing start-up. We are excited to open a new path by investing in an ambitious and experienced team in the field that has the potential to change the paradigm in the production area. Along with the financial investment, Sparking Capital contributes through expertise, mentoring and networking, to the accelerated development and international scaling of the companies in which it invests. We also enjoy strengthening the partnership with SeedBlink and partnering with other investors, thus contributing together to the development of the Romanian entrepreneurial ecosystem.”
Along with Sparking Capital, the investment in KFactory is supported by Seed Blink, the largest equity crowdfunding platform in the region, which democratizes private investors entering the ecosystem of innovative startups while facilitating their access to capital.
Andrei Dudoiu, Co-Founder & CEO SeedBlink: “We continue the course of listings of innovative startups, this time with a company that radically improves the performance of the production processes. We welcome the development of the partnership with Sparking Capital and with KFactory, we mark the 10th equity crowdfunding campaign, 6 months after the official start of SeedBlink.”
The legal assistance of the transaction was provided by the law firm Boanță, Gîdei și Asociații from Sparking Capital, namely Cătălin Grigorescu, Managing Partner and the leader of the technology advisory and transaction practice of bpv GRIGORESCU STEFANICA on behalf of the Founders.