Bengaluru-based Leanworx has Secured Rs 8.3 crore in Seed Funding

Leanworx, a startup based in Bengaluru, has raised Rs 8.3 crore (about $1 million) in seed funding to improve real-time data use in manufacturing plants. The funding was led by YourNest Venture Capital with Rs 6.5 crore and Rs 1.5 crore from an angel investment group.

This funding is part of the YourNest-SanchiConnect Velocity Program 2024, which helps high-growth startups with funding, mentorship, and market access.

Funding Utilisation

Leanworx will use the funds to expand marketing and lead generation efforts in India and Southeast Asia, and to further develop its product, including hardware and software certification.

Founded in 2017 by D. Srihari, Bhagavan S. K., and Dasarathi G. V., Leanworx offers an AI-powered machine monitoring system that provides real-time data from shop-floor machines. This data helps decision-makers make faster, more accurate decisions.

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Leanworx’s Industry 4.0 system delivers data from machines to decision-makers in just one minute, using AI and analytics, compared to the 24 hours it takes with traditional paper-based methods.

The Industry 4.0 machine monitoring market in India covers over 3 lakh machines in metalworking and 9 lakh machines in FMCG, with a global market much larger.

Leanworx’s system helps solve the problem of low machine utilization (often between 30%-50%) due to slow and inaccurate data collection. Their plug-and-play, IoT-enabled solution delivers precise data to managers in just one minute, reducing delays from traditional methods, which can take 24 to 36 hours.

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About Leanworx

Leanworx’s machine monitoring system provides 24/7 data, helping reduce machine waste and significantly improve machine efficiency (OEE) and profits.

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