The funding from the construction and energy groups will help the intelligent software company to accelerate its growth and develop its R&D services.
Photo: Working group for the DataThings’ team at Paul Wurth’s incubator / Credits © Sébastien Wiertz
Paul Wurth, an industrial engineering group active in the steel industry, and Encevo an energy supplier and service provider, both headquartered in Luxembourg, have taken a minority stake of 10.3% each in DataThings, a spin-off company from SnT/University of Luxembourg which specializes in intelligent software systems.
“This funding round as well as the industrial guidance of our two new strategic partners will enable us to accelerate our growth and develop our R&D services,” DataThing explained.
“We first focused on the Luxembourg market, under the label ‘Made in Luxembourg’. We are now ready to expand into new markets on the international scale”.
The InduTech has developed a data analytics and machine learning platform dedicated to operational decision-making purposes. Based on its GreyCat technology, the tool is already in use in the automotive, steel, finance, electricity and transportation industries.
With the funding, DataThings said it will bring its GreyCat solution as well as its two flagship products AIXpert and Alva to the next level.
AIXpert, a data management and predictive tool for industrial production processes, includes solutions such as storage, artificial intelligence, visualization and automating. It has been developed in collaboration with Paul Wurth.
Alva, a monitoring and simulation tool based on new technologies (big data analytics, visualization, machine learning and artificial intelligence), supports grid operators in managing, planning and troubleshooting their smart electricity grid infrastructure. The tool has been developed with Creos, an electricity and gas network operator of Encevo Group.
Founded in 2017 DataThings is hosted at Paul Wurth InCub, a corporate incubator for startups from the InduTech sector.