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December 21, 2023 | Arch SystemsEstimated reading time: 1 minute
Arch®, the leading provider of data and analytics for manufacturing operations, proudly announces successful additional funding with DI Technology, a Munich-based B2B technology investor with a focus on Industrial Tech and Enterprise SaaS, and Neotribe, a Silicon Valley venture capital firm investing in leading AI and data technologies. This investment not only bolsters Arch Systems' position in the market but also marks a significant step toward accelerating Arch’s strategic expansion in Europe and globally.
DI Technology, a German-based venture capital firm focused on B2B technology is committed to investing in best-in-class solutions that support their shared vision of unlocking untapped factory capacity and addressing inefficiencies in manufacturing processes globally.
Torsten Kreindl, Founding and Managing Partner at DI Technology and former Deutsche Telekom Broadband CEO stated, “We are excited to partner with Arch Systems as we see billions lost annually worldwide due to underutilization of machinery and corresponding inefficiencies. Arch is the leading software company to identify those inefficiencies and automatically provide recommendations to increase capacity utilization and enhance OEE (overall equipment efficiency), eventually paying into higher profitability for production companies. We look forward to collaborating with Arch, especially expanding in the European market.”
Arch CEO, Andrew Scheuermann said, “We serve multiple customers and employ team members in more than five countries across Europe and the Middle East today. We are excited to make partnerships with more of the world’s top manufacturers as we continue our global expansion.”
Neotribe, a Silicon Valley-based (Calif., USA) firm that invests in leading data and AI technologies, joins DI Technology in the funding.
Nitin Chopra, Managing Director for Neotribe said, “Future-shaping innovations are the ones that seem impossible and alter how we perceive the world. Manufacturing is one of the greatest ecosystems to be transformed by the intersection of bits and atoms. Arch exemplifies both. There are massive economic and geopolitical shifts underway in manufacturing and Arch is bringing the right data and AI approach to help transform it.”
The additional funds from this investment round will be instrumental in further enhancing Arch Systems' technological capabilities, expanding its team, and facilitating the company's global market penetration.
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