The company has announced the appointment of B2B technology specialist Paul Reader as CEO, and Frank Doorenbosch, former CEO of RPC BPI Group as a non executive director (NED).
ThingTrax enables manufacturers to turn unconnected factories into smart manufacturing hubs.
Using a combination of cloud computing, Internet of Things (IoT), AI, and most recently computer vision, ThingTrax connects machines, workers, and robotics to optimise manufacturing operations.
The solution connects factories end-to-end to make them safer, more efficient, and for management to make data supported decisions. Its plug and play devices can be fitted by factory engineers in less than an hour and then immediately connected to its Smart Manufacturing Platform.
Founded in 2015 by Aman Gupta and Imran Shafqat, with extensive technical expertise from their previous work at IBM and Microsoft, ThingTrax has already had an impressive year.
ThingTrax is already working with factories across plastics, automotive, FMCG, medical, and packaging around the world.
In order to scale ThingTrax further, Paul Reader has been appointed CEO, with Co-founder’s aman gupta taking the position of chief product officer (CPO) and Imran Shafqat as chief technology officer (CTO).
Mads Jensen, managing partner at Superseed, and investor in ThingTrax, commented: “ThingTrax is in a unique position to offer manufacturers of all shapes and sizes the opportunity to digitalise, without the burden of time or a huge amount of investment. Its plug and play model means manufacturers can make incremental changes on the factory floor quickly and see a return on investment fast. Aman and Imran have built a hugely successful product, and we’re delighted to have Paul join as CEO to scale ThingTrax. Frank, who has been a ThingTrax customer, advocate, and an investor, is another leading industry figure whose expertise will be incredibly valuable as NED.”
Paul Reader joins the team with over 20 years’ experience building tech businesses. For the past decade he has worked to build and scale B2B technology firms including Eloqua, acquired by Oracle in 2012, where he went on to build the Marketing Cloud by integrating the acquisition of $7 Billion worth of B2B tech startups.
Most recently, Mr Reader led the commercialisation of AI-spin out Mind Foundry from the University of Oxford.
“The manufacturing sector is ripe for digital transformation and the practical application of new industry 4.0 technology is key. But, right now for many manufacturers it's too complicated, costly and takes too long which is holding back innovation,” Mr Reader said. “ThingTrax has proven technology that enables us to take a new approach to attract unconnected manufacturers to embark on this journey in a simple, step-by-step and affordable way.
Frank is a manufacturing industry heavyweight with over 30 years’ experience. Having been a customer initially, he selected and adopted ThingTrax in favour of large well-known enterprise players at RPC.
ThingTrax was part of the Startup Bootcamp IoT accelerator run by Cisco and University College London. ThingTrax is a preferred partner for Microsoft and an official AI partner in the Edge Solution category for Intel. The team of 20 is headquartered in London.
ThingTrax www.thingtrax.com
