Vienna-based ToolSense receives EUR 3m to bring live-tracking IoT to power tools

News, Portfolio

29th July 2020

Austrian startup ToolSense, which is giving power tool manufacturers a competitive advantage with its after-sales IoT solutions, has closed a EUR 3 million seed round. The seed financing round was led by btov’s Industrial Technologies Fund as well as existing stakeholders aws Gründerfonds, Segnalita Ventures, Martin Global AG and Dr. Georg Hoblik GmbH.

Benedikt Kronberger, partner at btov, says: “Various customers operate machines from several manufacturers at the same time, but only want to use one single software platform and connect it to the existing IT systems accordingly. This is where ToolSense comes in – for example, facility managers can use ToolSense to centrally manage and locate all cleaning machines from different manufacturers that are in use. The ToolSense team has convinced us of the vision of providing machine manufacturers with direct and straightforward customer access using the ToolSense platform. The understanding of customer needs and hence the quality of customer service can be significantly improved.

Congratulations to co-founders Alexander Manafi, Benjamin Petterle, Rostyslav Yavorskyi and the whole team and welcome to the portfolio!

Read more here.

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