Luxembourg – February 18, 2021 – Wizata, the Luxembourg based Industry 4.0 Artificial Intelligence (AI) solutions provider to the process industry, is excited to welcome Finindus to complete its latest funding round led by Volta Ventures and KBC Focus Fund and backed by the original founders and initial investor Expon Capital. The new investment will enable Wizata to continue its expansion and tailor solutions that accelerate deployment and efficiency across plants for customers all over the world.
“We were impressed by the quality of their solution and are excited to join Wizata as an investor”, stated Roel Callebaut, Investment Manager at Finindus. “One of the barriers to broad adoption of AI in industry is the vendor lock-in most platforms seek. Wizata has the right approach by offering customers an open platform with full control over their data and models.“ Roel Callebaut joins the Wizata board.
Jean-Philippe Hugo, CEO of Wizata, stated: “Working hand in hand with partners such as Finindus is a perfect fit to drive the digital transformation of the materials & metals industry, as their network, experience and expertise in our activity field will strengthen and empower our journey.”
“The entry of Finindus in Wizata is a great underpinning for the Wizata solution”, confirmed Koen De Waele, Venture Partner at Volta Ventures. “We believe Finindus will greatly contribute to the realization of Wizata’s vision for digital transformation in the material processing industry.”
“We are very positive that the extension of the funding round made it possible for Finindus to join as an investor in Wizata”, says Nuno Carvalho, Investment Director at KBC Focus Fund. “Their knowledge of the steel industry and commitment to supporting Industry 4.0 programs will be key to unlock the full potential of Wizata Digital Twin and Analytics within the industry.”
Wizata provides industrials an AI-ready data-driven platform enabling them to develop & deploy their proprietary models. Orchestrated around its Digital Twin technology, the platform enables monitoring of production processes with anomaly detection models, fast and enriched root cause analysis with Machine Learning algorithms and ultimately deployment of AI process control. Leading companies in the materials sectors such as ArcelorMittal, Aperam, Carmeuse, Ceratizit and LafargeHolcim are leveraging the Wizata platform to autonomously increase their yield, improving assets health and performance while ensuring a high level of quality by avoiding defects.
Finindus is an investment company funded by ArcelorMittal and the Flemish Region and is linked to OCAS, a world class metal research center. Finindus provides early stage and growth financing to innovative technology companies active in the materials sector, sustainable manufacturing, and Industry 4.0.
About Volta Ventures:
Volta Ventures provides (pre)seed and early-stage financing for software & internet companies that originate in the Benelux. Now investing from its second fund it has €100M under management. Next to capital, the fund’s team provides guidance to assist companies in growing from startup to scale up. The Volta team aims to make a substantial contribution to the portfolio companies by working with the founders and management to identify new markets and clients, attract talent, provide advice and support, and help raise follow-on financing.
About KBC Focus Fund:
KBC Focus Fund is a €50 million venture capital fund that invests in advanced technologies with a particular emphasis on semiconductor, nanotechnology and IoT. The focus is on Belgium and surrounding countries where well-known expertise centers are located. KBC Focus Fund leverages on the network and expertise of KBC Group and is managed by KBC Securities, which has a solid knowledge of the tech ecosystem in Belgium and beyond, with experienced teams in Venture Capital, M&A, Corporate Finance, and Research & Sales. As part of the KBC Group, the KBC Focus Fund aims to be long-term partners for entrepreneurs.
About Expon Capital:
Expon Capital is a privately-owned Venture Capital firm dedicated to the financing of big ideas with the potential for positive impact & exponential growth. Based in Luxembourg, the firm invests from an early stage in some of the most promising companies from Europe, the US and Israel.