btov Industrial Tech Fund invests in Cybus
German specialist for Internet of Things (IoT) secures seven-figure sum
btov Partners’ Industrial Technologies Fund has led the financing round of Industrial Internet of Things (IIoT) firm Cybus with participation of several private investors & successful entrepreneurs from the btov network as well as existing shareholders. The new capital will mainly be invested in growing Cybus’ Sales & Marketing and Development teams. Cybus marks the second company financed by the new btov fund focused on industrially relevant hardware and software solutions in Europe.
Cybus sells a software-based IIoT gateway solution to manage the data flow between production machines, enterprise IT systems and external IIoT cloud platforms. The “Connectware” product allows to efficiently connect machines and entire factories to one or more external cloud services with a very granular definition of data access rights down to individual machine data points. This allows machine OEMs as well as machine operators to remain independent from the large IIoT platforms, to build a future proof IT/OT data infrastructure and to adhere to upcoming cyber security standards like IEC 62443 for industrial communication networks.
Leading industrial companies like SCHUNK and B. Braun are already managing their critical production data with the Cybus Connectware. Cybus enables its customers to map data from heterogeneous machine fleets to a single semantic data model and to benefit from highly scalable edge computing capabilities to run data analytics on premise and close to the shop floor.
Robert Gallenberger, partner of the btov Industrial Technologies Fund states: “Having observed the emerging market for IIoT infrastructure for quite a while we recognise Cybus’ product offering and vision as the most focused answer to the growing strategic battle between machine OEMs, factories and the large IIoT data platforms over access to machine data, control of data flow and data ownership.”
“Moving fast to live industrial applications with early supporters from the manufacturing industry like SCHUNK or Pfannenberg has helped us to build a detailed understanding of the shortcomings of existing IIoT software stacks and to create connectors to a multitude of industrial communication protocols. Today both machine OEMs as well as machine operators rely on our products and jointly with them we progress on our development roadmap. A significant part of this financing round will support the further build-up of our Development team” adds Peter Sorowka, CTO and co-founder.
Pierre Manière, CEO and co-founder is confident about Cybus’ future: “This new investment allows us to grow professionally as a company. We are currently focussed on the discrete manufacturing sectors and are building up lighthouse projects and market presence primarily in the DACH region – which has taken a global lead in the digitization of manufacturing. As a next step we will go international with roll-outs across the international production networks of our multi-national customers. Next to our direct sales efforts we work intensively with partners like DXC technology, one of the world’s largest IT integration services company.”