Arkite, a Belgian Industry 4.0 startup, has raised €1.6 million led by Capricorn Venture Partners with participation from existing shareholders.
Arkite develops manufacturing hardware called the Human Interface Mate (HIM), which uses augmented reality to assist production operators in complex tasks.
“In the highly competitive environment of the manufacturing industry, more complex operations are expected from an operator,” said Ives De Saeger, co-CEO. “Thanks to HIM's support, an operator can execute a larger number of actions with a greater complexity.”
The new funds will be used to expand in the European market in 2018 and double its workforce to 30. It’s currently active in Belgium, the Netherlands, France, and Germany with customers in the automotive, telecoms, and pharma sectors.
“We can count on far-reaching interest from companies from all over Europe,” added co-CEO Johan Smeyers. “In order to answer the questions from these customers, we can use the extra financial resources well.”
The funding will also be used for building additional features in HIM, he said.
“In the very competitive space of Augmented Reality and Industry 4.0, Arkite stands out by having a true commercial product on the market used by a number of top tier clients in the make industry,” said Katrin Geyskens, partner at lead investors Capricorn.
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