Munich-based startup ClearOps has closed an €8.6 million Series A funding round. Hitachi Ventures led the round, with participation from the Schoeller Group and the Barkawi Group. This new capital marks ClearOps' first foray into institutional investing.
The company is developing a AI-powered platform For industrial after-sales service. ClearOps connects manufacturers, dealers, service partners, and machines on a central platform. Existing IT infrastructures remain in place. The goal is to coordinate spare parts and service processes more efficiently and reduce machine downtime.
According to [the source], customers include Startup Among others, AGCO, Jungheinrich, Terex and Lippert. ClearOps helps OEMs and dealers to create more accurate demand forecasts and to increasingly automate service and spare parts processes.
International expansion planned
ClearOps plans to primarily invest the funds from this financing round in international expansion. The startup also intends to expand its sales and go-to-market organizations, as well as invest further in AI capabilities and strategic partnerships.
William Barkawi, founder and CEO of ClearOps, says:
“The world of industrial service networks is undergoing a fundamental transformation. Machines are becoming smarter, global supply chains more complex, and downtime increasingly unacceptable. We believe the future belongs to companies that not only solve problems but also predict them early and coordinate and automate processes in real time. Our vision is clear: We are building the AI platform for industrial after-sales service with the goal of operating machines worldwide with minimal downtime, made possible by fully autonomous service and supply chain networks.”
Investor Hitachi Ventures also sees great potential in the market for industrial after-sales service. Pete Bastien, partner at Hitachi Ventures, says:
"With the increasing networking of machines and rising demands for availability and service, traditional approaches to service operations are no longer sufficient. ClearOps is developing the intelligent platform that companies need for the next generation of industrial after-sales service. AI, data, and operational processes are brought together on a central solution. We see significant market potential and are convinced that the team is excellently positioned to define this category."
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