Verdane has made a strategic majority investment in Factbird, backing the Danish manufacturing intelligence company as it expands its global footprint and accelerates adoption of its industrial software and IoT platform. Financial terms of the transaction were not disclosed.
Existing investors Expedition Growth Capital and EIFO are significantly reinvesting alongside Verdane, reflecting continued backing for Factbird as it enters its next phase of growth.
Factbird provides hardware-enabled recurring software designed to help manufacturers collect, manage, analyze, and act on production data.
The platform gives industrial companies greater visibility into factory-floor operations, helping them identify bottlenecks, reduce downtime, improve production capacity, and cut waste.
Factbird said its customers achieve an average 19% productivity increase within the first three months of deployment, creating what the company describes as substantial returns on investment that can translate into multi-million-dollar improvements for larger manufacturers.
The company serves more than 300 customers, including global blue-chip manufacturers, and has established operations across Europe and North America.
Its technology has been deployed in 40 countries.
Founded in 2016, Factbird has developed a manufacturing intelligence platform that combines software with connected hardware to make industrial production data easier to capture and use.
The company’s applications include Production Insights, Connected Operations, and Knowledge Excellence.
Production Insights focuses on monitoring and analyzing manufacturing activity. Connected Operations supports digitized factory workflows, while Knowledge Excellence is designed around workforce training and knowledge sharing.
Factbird’s broader strategy is to help manufacturers close the gap between collecting data and actually using it to improve factory performance.
Many industrial facilities have large amounts of operational information but lack the systems needed to transform that data into real-time decisions.
Factbird seeks to make production information more accessible to plant managers, engineers, and frontline workers so they can identify inefficiencies and respond more quickly.
The opportunity is particularly significant as manufacturers increasingly invest in factory-floor digitization but still operate substantial portions of their facilities using fragmented systems, manual processes, and disconnected data.
Verdane sees that underpenetrated market as a major growth opportunity.
The investment firm plans to work with Factbird’s management team to expand the company’s product portfolio, strengthen its market presence, and accelerate international growth.
Verdane also brings substantial experience investing in software, technology-enabled businesses, and companies helping digitize industrial and economic infrastructure.
The firm has raised approximately €10 billion in capital and has completed more than 200 investments since 2003.
Verdane typically invests in technology-enabled and sustainable companies that can contribute to the digitization and decarbonization of the European economy.
For Factbird, the partnership provides additional resources to invest in technology, commercial expansion, and customer growth while preserving the company’s existing leadership and strategic direction.
Expedition Growth Capital’s continued investment also maintains the support of a software and AI-focused growth investor that specializes in businesses with significant traction.
EIFO, Denmark’s national promotional bank and export credit agency, is also reinvesting.
EIFO has more than €24 billion in total commitments and operates across more than 100 countries. It is also one of Denmark’s most active venture investors, with an investment portfolio exceeding €2.7 billion.
The transaction remains subject to customary regulatory approvals and closing conditions where applicable.
KEY QUOTES:
“Our vision is to make every factory a smart factory, with people firmly in the loop. Factories still lose an enormous amount of output to inefficiency and waste. That’s the problem we’ve been solving since day one and our customers see an average 19% productivity increase within the first three months.”
“The partnership with Verdane gives us more resources to solve this faster. Verdane has taken the time to understand what we’re building and why it matters. They share our conviction that the biggest opportunity in manufacturing is closing the gap between data and action.”
Søren Schønnemann, CEO of Factbird
“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.”
“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 digitalisation. We look forward to supporting Factbird in the next phase of its growth.”
Morten Weicher, Partner at Verdane
