SaaS-based IoT machine monitoring solution ThingTrax raises £250,000

London-based IoT startup ThingTrax focused on manufacturing closed seed round of £250,000 led by Technology Venture Capital Investments. ThingTrax will use the proceeds to grow its customer base and deliver the on-going pilots it has signed. The startup is a graduate of Startupbootcamp’s IoT program in its Oct 2016 session.

ThingTrax is a SaaS-based IoT machine monitoring solution for the manufacturing industry. It consists of a data capturing device and cloud-based software that can be used to track and monitor machines and operators. ThingTrax Smart Gateway device connects to machine PLCs to collect and send machine data to the Cloud. The ThingTrax cloud then uses inbuilt machine learning and artificial intelligence algorithms to detect anomalies in machine and motor operations.

“Our device can decide to send more data to the cloud for analysis depending on what it finds. That is the intelligence we have built in,” said Aman Gupta, ThingTrax’s head of devices.

ThingTrax Dashboard

The startup’s website notes that the ThingTrax device is currently tracking 600+ machines. Use the Postscapes Connected Product Framework to see how the millions of sensors add real-time intelligence to industrial machines.

Postscapes: Tracking the Internet of Things