TechMass, new capital increase

TechMass, new capital increase

TechMass, new capital increase
29 January 2019
The startup, that took part in one of our acceleration programs, concluded the operation – subscribed by GELLIFY and auxiell – with the goal of developing its team and design new solutions.
TechMass is an innovative startup founded in Italy in 2017 by the Paduan engineer Andrea Massenz who, after starting his career first in the USA and then in Germany, created a digital platform for monitoring and optimizing production in manufacturing companies, in order to increase efficiency and reduce waste, according to the principles of the lean system.
 
Alongside the capital increase, we exercised our option right by acquiring 3% of the capital of TechMass, under a convertible note contract signed with the startup during our Industry 4.0 acceleration program in partnership with Cisco.
 
"Paul" – the TechMass platform called like the octopus that predicted the results of the 2010 World Cup was conceived according to three key principles: immediacy of application, involvement of the team and knowledge transfer. It was developed through the most modern technologies (IoT, cloud, artificial intelligence, mobile apps) and it has a plug & play project activation and an app to support the operators' activity.
 
Thanks to these new financial resources and supported by the skills and the innovation platform provided by GELLIFY and by the know-how of auxiell, the startup has set two main goals: boost its commercial activities – it has already started to work with several industry players as well as with medium and small and companies – and strengthen its team through an approach aimed at involving people and enhancing their potential. At the same time, TechMass will implement new vertical solutions on the "Paul" platform.