Prodsmart, a company offering real-time tracking for production lines, has won a $1.5 million seed investment round. The firm, based in the Portuguese capital city Lisbon, will use the money to onboard another ten employees – and grow its “customer success” division.
The investment was led by Join Capital of Berlin, Portuguese VC Caixa Capital and Poland’s Innovation Nest, in what is a strikingly pan-European cohort. Local angel investors also contributed to the sum. It adds to a $150,000 injection by American outfit 500 Startups in September last year, and a $30,000 grant in 2016.
Prodsmart, founded in 2012 by Gonçalo Fortes and Samuel Martins, creates software driving the “Industry 4.0” transformation of production lines into smart factories. It is one of an increasing number of companies capitalizing on Lisbon’s rising status as a leading European tech hub.
“Our goal is to provide our clients with not only a software, but also a team that will help them find a solution for the number of challenges we believe all SMEs industry deal with on a day-to-day basis,” said co-founder and CEO Fortes in a statement.