Update: a previous cover of the funding placed earlier today did not specify neither the amount of the funding, nor the fact that is was part of a Series A.
Pico MES, a remote software company that is enabling digital transformation for small to medium-sized American factories, raised $12.35M in Series A funding.
The round was led by Bosch Ventures and joined by new investors from Counterpart Ventures and Momenta. Existing investors Lemnos, Congruent Ventures, Union Labs, and SE Ventures also participated.
The company intends to use the funds to bolster U.S. green infrastructure, empower mid-sized factories, and replace outdated manual methods.
Led by CEO Ryan Kuhlenbeck, Pico MES is digitizing the supply chain, starting with small to medium-sized manufacturers. It is designed to connect the tools and machines with the people who use them, measuring shop-floor processes, and digitizing assembly lines. Additionally, its no-code platform has an open API for connection to other systems on the shop floor. The company has integrated 10,000 processes into digital data streams from over 700 workstations and connected over 1,900 devices to its platform. Since its launch in 2019, Pico MES has been deployed in dozens of factories that operate as Tier 1, 2, or Tier 3 suppliers to larger OEMs in the EV, aerospace, and battery industries.
FinSMEs
22/08/2023