‘Fitbit For Manufacturers’ Analytics Platform Fourjaw Raises £1M
04/24/22, 11:02 PM
Location
sheffield
Money raised
£1 million
Round Type
seed
Industrial internet of things startup FourJaw has raised £1m in early-stage funding for its hardware and data platform used to monitor manufacturing machines.
Company Info
Location
sheffield, england, united kingdom
Additional Info
The Sheffield-based company, which has been dubbed ‘Fitbit for manufacturers’, provides device-agnostic sensors that plug into factory equipment. The platform can be applied to a variety of manufacturing equipment without requiring specialist knowledge, the company said. SFC Capital CEO Stephen Page said: “We knew FourJaw had created a game-changing technology that would break through the sector’s scepticism surrounding Industry 4.0.“Their data-driven technology is right for its time, helping drive a manufacturing renaissance for post-Brexit, post-Covid Britain where productivity and competitiveness are essential to the economy.”The company’s platform is being deployed across the UK to engineering supply chains across sectors such as aerospace, energy, medtech, defence, automotive and consumer goods.FourJaw chairman Bart Simpson said that the platform “elegantly sidesteps the costly and invasive big-ticket alternatives, to deliver the right information at the right time, securely from the cloud.“A tablet gives staff operatives and managers easy-to-digest data that is driving big improvements in productivity, thus securing UK jobs and international markets against fierce global competition.”The Sheffield spinout previously received an undisclosed six-figure investment with a valuation of £2m.