Factbird, a Copenhagen-based tech company specializing in cloud-based manufacturing intelligence solutions, secured a substantial $16 million investment from Expedition Growth Capital and Denmark’s Export and Investment Fund, EIFO. Their innovative technology optimizes production lines by providing real-time operational data, addressing a critical need in the manufacturing industry. With this infusion of capital, Factbird intends to bolster its international expansion efforts, leveraging the funds to further develop and refine their solutions. The investment will fuel the company’s growth strategy, enabling them to penetrate new markets beyond the Nordics, USA, Germany, and England, while continuing to enhance their technology to help manufacturing companies improve efficiency without relying on outsourcing strategies.
Factbird specializes in empowering manufacturers by offering comprehensive manufacturing intelligence solutions, catering to various levels within a manufacturing setup, from operators and process engineers to plant managers. Their core focus involves assisting customers in collecting, organizing, and analyzing production data from diverse machinery and processes to enhance operational efficiency. By leveraging real-time analysis of manufacturing data, Factbird enables the identification of quality concerns, downtime occurrences, bottlenecks, and productivity enhancement opportunities. Their platform equips the manufacturing shop floor with structured and accessible data, empowering all involved in production to make informed decisions aimed at optimizing manufacturing processes.
“We have experienced two fantastic years in the ownership circle of Factbird. Together with the owners behind the Emendo Group, we have shown that it is possible to lift a software company out of a consultancy, infuse it with venture DNA, grow at rocket speed, and attract international growth capital. It has been fantastic to see Factbird take shape as an independent company, and we look forward to the future of the company with the new co-investors,” says Jesper Lilledal, Partner, Direct Investments at EIFO. “One of the biggest problems in manufacturing today is the lack of real-time operational data. Factbird’s manufacturing intelligence solutions solve that problem for both small and large manufacturers.”
David Olsson, Principal at Expedition Growth Capital, states, “One of the biggest problems in manufacturing today is the lack of real-time operational data. Factbird’s manufacturing intelligence solutions solve that problem for both small and large manufacturers. There is also huge potential in combining data from Factbird with the latest machine learning and AI technology, which can be part of the solution to the challenges that manufacturing companies face today and in the future. As an investment company with a focus on fast-growing European software companies, we could not be prouder to collaborate with the team at Factbird and make them our first investment case in Denmark.”
Factbird has grown by 300% since 2021. The customer portfolio today counts more than 250+ companies within the pharmaceutical, packaging, industrial equipment and devices, and food and beverage industries across the key markets in the Nordics, USA, Germany, and England.
“We have taken the next step and are hungry for more. When we look beyond our key markets, we see historically strong manufacturing countries that rely on digital solutions to stay competitive more than ever. Our ambition is that, through our unique lean technology, we help companies become more efficient without resorting to an outsourcing strategy.” says Søren Schønnemann, CCO and Partner at Factbird.
Despite its massive growth and status as a scaleup, Factbird consciously sticks to its startup DNA. This is expressed, among other things, via a warrants program and employee shares.
“Warrant programs are here to stay. From the beginning, we wanted to share our success with our employees. All full-time employees are involved in the program, and it means we all have a stake in the success of Factbird. When we succeed in this journey, it will affect us all. For some, the value will be the down payment on a house, and for others, it will perhaps be the springboard for a new startup.” says Peter Savnik, CPO and Partner at Factbird.
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