Portuguese digital factory startup Prodsmart raises $1.5 million

Portugal's Prodsmart, which creates software that makes factories smarter, has raised $1.5 million in seed funding from Join Capital, Caixa Capital, Innovation Nest and angel investors Francisco Lobo, Pedro Vieira, Pedro Trinité, and Telmo Valido

The startup develops software for tracking and monitoring production lines, claiming to transform regular production lines into digital smart factories. It was founded in 2012 and participated in 500 Startups from which it raised $150,000, and is now headquartered in San Francisco.

The new funds will be invested in growing its customer success team.

“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 CEO Gonçalo Fortes.

Data will play a key role in the global manufacturing market, said Innovation Nest's Marcin Szelag.

"In order to increase efficiency and integrate across the entire supply chain, manufacturing floors will need to become digital. Thanks to Prodsmart, access to real-time factory floor, data has become easy and affordable," he said.