Scottish Equity Partners (SEP) said it has made a significant growth equity investment in Braincube, a manufacturing data software company headquartered in Issoire, France.
The €80 million-plus funding was led by SEP in partnership with Bpifrance, the French state investment body.
“Braincube’s Industrial Internet of Things (IIoT) platform helps manufacturers increase their profits using data insights to improve quality, productivity, and sustainability in their factories,” said SEP.
“Production line optimisations resulting from Braincube’s use-case driven framework and proprietary AI, have already saved customers more than $10 billion, and have reduced carbon emissions by 2.5 million tonnes.”
SEP said Braincube has grown strongly in recent years, and now has over 250 employees across its operations in France, Europe, the United States, and Brazil.
Its software is used on manufacturing sites across 35 countries.
“Braincube’s customer base spans several manufacturing verticals, with a particular specialism in the food and beverage, pulp and paper, building materials, and tires and plastics sectors,” said SEP.
“Customers include leading global manufacturing companies such as Bridgestone and International Paper.”
Laurent Laporte, Founder and CEO at Braincube, said: “At Braincube we envision a world where every factory can operate at peak efficiency.
“Through using Braincube, manufacturers can successfully achieve their Industry 4.0 vision.
“We are delighted to be partnering with SEP, one of Europe’s leading growth equity investors in software companies.
“It is clear that in SEP and Bpifrance we have found long-term supportive partners who can help Braincube continue its global growth journey.”
SEP’s investment was led by Angus Conroy, Andrew Davidson, and Arpita Prasad.
Conroy said, “Braincube is an impressive business, with a complex and IP-rich product, excellent customers, and a track-record of strong growth.
“The company has a leading position in a market which benefits from strong tailwinds, as manufacturers embrace Industry 4.0.
“There is excellent cultural alignment between Braincube and SEP, and we are excited to partner with the founders and team for their next stage of growth.”