Munich-based startup ClearOps has completed a Series A funding round of €8.6 million. Hitachi Ventures leads the round. The Schoeller Group and Barkawi Group are also participating. With the fresh capital, ClearOps is bringing institutional investors on board for the first time.
The company develops an AI-powered platform for industrial after-sales service. ClearOps connects manufacturers, dealers, service partners, and machines on a central platform. Existing IT infrastructures remain intact. The goal is to coordinate spare parts and service processes more efficiently and reduce machine downtime.
According to the startup, customers include AGCO, Jungheinrich, Terex, and Lippert, among others. ClearOps helps OEMs and dealers create more accurate demand forecasts and increasingly automate service and spare parts processes.
International expansion planned
ClearOps plans to invest the funds from the financing round primarily in international expansion. Additionally, the startup plans to expand its sales and go-to-market organizations as well as make further investments in AI capabilities and strategic partnerships.
William Barkawi, founder and CEO of ClearOps, says:
“The world of industrial service networks is undergoing fundamental change. Machines are becoming more intelligent, global supply chains more complex, and downtime increasingly unacceptable. We believe the future belongs to companies that don’t just solve problems, but predict them early and coordinate and automate processes in real time. Our vision is clear: we’re building the AI platform for industrial after-sales with the goal of operating machines worldwide with minimal downtime. Made possible through fully autonomous service and supply chain networks.”
Investor Hitachi Ventures also sees great potential in the industrial after-sales service market. Pete Bastien, partner at Hitachi Ventures, says:
“With increasing machine connectivity and rising requirements for availability and service, traditional service approaches 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 exceptionally well positioned to define this category.”
