Verdane makes majority investment in Factbird
- Expedition Growth Capital and EIFO are reinvesting significantly alongside Verdane
- The company serves more than 300 customers
- Verdane plans to develop the company’s product offering
Verdane has announced a majority investment in Factbird, a Danish IoT and recurring software company providing manufacturing intelligence. Existing investors, Expedition Growth Capital and EIFO, are reinvesting significantly alongside Verdane.
Factbird’s hardware-enabled software help industrial businesses to improve productivity, reduce downtime and make more informed operational decisions that help manufacturers to gather, manage, analyze and act on production data to improve efficiency and reduce waste, according to a press statement.
The company serves more than 300 customers including many global blue-chip customers.
Verdane will support Factbird’s next phase of growth, working closely with the management team to further develop the company’s product offering, expand its market presence and continue delivering value to manufacturing customers globally, the statement said.
“Factbird has developed a unique offering that addresses a clear need among manufacturers seeking greater visibility and control over their operations and in turn provides a very significant return on investment,” Morten Weicher, partner at Verdane, in the statement. “We have been impressed by the growth trajectory of the company and execution capabilities of the management team, the quality of the product and the company’s position within an attractive underpenetrated market for factory floor digitalization.”
The transaction is subject to customary regulatory approvals and closing conditions.
