Maximizing manufacturing throughput with Dynamic Process Execution to fix broken supply chains & parts shortage: Workerbase raises €10 million in Series A funding
The Californian deep-tech investor Almaz Capital, the Bavarian start-up fund Bayern Kapital and Porsche Ventures join as new investors. Portfolio investor Point Nine and business angels reinvest.
Workerbase intends to use the capital to further develop its platform used by leading manufacturers such as Porsche, Siemens, Pon.Bike or GKN PM for flexibilize production process optimization.
Munich, October 12, 2022 – Whether it is interrupted supply chains, chip shortages or the energy crisis, not everything runs as planned for manufacturing companies. The result: they have to react on short notice and be able to adapt their production processes in real-time.
Workerbase enables production companies who are challenged by this situation to become more dynamic and agile. To accelerate growth, the company is now raising 10 million euros from new investors Almaz Capital, Porsche Ventures and Bayern Kapital and existing investor Point Nine.
Workerbase uses a specially developed platform for manufacturing that connects people, processes, machines and material in real-time. This makes it possible to detect errors and problems at an early stage and even predict when problems are about to occur in the near future. Its algorithms use skills, location and availability of staff to coordinate the right employees to solve the problem. It prevents downtimes by understanding what is required and selecting the right people for the job. According to Workerbase CEO Norman Hartmann, the focus lies on maximizing the flexibility of production processes. "One of our main goals of the Series A funding: manufacturing processes must become more dynamic in the future. Statically planned production processes are failing in the new market environment. We create maximum flexibility through our Dynamic Process Execution (DPE), where we make the most out of the fusion of both the digital and the analogue world."
The software platform complements existing ERP- and MES systems and connects the key points that help increase productivity: people, machines, material. "For instance, employees can report missing pieces or can be utilized more effectively, depending on their roles and competencies. In the daily 24/7 use with many of our DAX customers we have been able to achieve efficiency increases of up to 20%, and machine utilization (OEE) increased by 5%," says Hartmann. Customers such as GKN, Porsche and Siemens have been using Workerbase for several years now.
Patrick Huke, Head of Porsche Ventures Europe & Israel: “Digital transformation has been a part of the production environment for some time and will continue to have a significant impact on it in the future. More than ever, it will be important for companies to remain flexible in order to be able to modify and integrate improvements at any time. The innovative software solution of Workerbase has the potential to disrupt the massive manufacturing software industry by helping companies to digitize manual processes and to always be able to react quickly in a constantly changing production environment. We look forward to supporting the Workerbase team as an investor and partner in the future.”
The new funding round helps WORKEBASE increase the capabilities of its software platform and enables manufacturing companies to remain competitive. Nazre, Partner at Almaz Capital: “WORKERBASE is transforming production processes by breaking them up into small chunks of individual activities. Their Dynamic Process Execution software offers completely new possibilities to increase operational flexibility. We see a huge market need for this type of software in the market and thus tremendous growth opportunities.”
Due to the changing market environment, manufacturing companies have to adapt their operational processes.
"Workerbase has developed a smart software platform that contributes significantly to solving fundamental problems in the manufacturing industry. Lengthy process structures are eliminated, discrepancies are identified at an early stage - this strengthens the efficiency and flexibility of the manufacturing process," says Monika Steger, Managing Director of Bayern Kapital. "We see great growth potential in Workerbase and are pleased to accompany the company on its further path of process optimization."
Hubert Aiwanger, Minister of Economics of the Bavarian State, adds: “With the Growth Fund Bavaria 2, we have been supporting young Bavarian high-tech companies in the more mature development phase for two years. Workerbase is one of many examples of a technology that originated in Bavaria, where strong local manufacturing know-how is translated into an innovative product. We need many start-ups like this in Bavaria. For it is precisely they that contribute to strengthening our business location. The growth fund is important and reliable start-up financing”.
About Workerbase: Workerbase is a company founded in 2017 by Norman Hartmann, Thorsten Krüger and Hamid Reza Monadjem. Its main task consists in supporting large companies and corporations by digitizing their processes and production. In order to do this, Workerbase uses theri Dynamic Process Execution platform for the networking between humans and machines. Their platform is already deployed at large scale in factories of leading manufacturing companies such as Porsche, Siemens, PON.bike or GKN Powder Metallurgy.