Ghent-based hyper-automation platform Waylay has raised a Series A funding round from Japanese electrical engineering and software company Yokogawa Electric Corporation along with existing investors PMV and Ark Angels Activator Fund (AAAF).
The cash injection will be used to grow its team, accelerate product development and further expand its customer base in North America, Europe and Asia. The funding amount, however, has not been disclosed by the company.
The Belgian startup builds automation for enterprises that have reached levels of complexity in digital transformation. It aims to empower organisations to achieve dramatically improved ROI from their digital transformation investments and help customers reverse the tide of big software builds with a compelling alternative approach to systems integration.
Leonard Donnelly, CEO at Waylay said: “This latest investment validates our vision and commitment to ease software integration complexity in the face of the need for relentless automation that businesses are facing today.”
Yukihiro Funyu, senior vice president of Yokogawa and head of digital strategy added: “The equity investment is about advancing the application of digital technology and our Yokogawa Cloud platform to accelerate industrial autonomy and smart manufacturing. Our work with Waylay will support our customers’ transition to cloud computing and propel the transformation of their digital enterprises.”