Bengaluru-based Leanworx raises Rs 8.3 crore led by YourNest Venture

Leanworx, a Bengaluru-based startup that provides real-time data to manufacturing plants, has raised Rs 8.3 crore (about $1 million) in a seed funding round.

The round was led by YourNest Venture Capital, which contributed Rs 6.5 crore, along with an angel investment group that provided Rs 1.5 crore.  

Part of the accelerator initiative

The funding comes under the YourNest-SanchiConnect Velocity Program 2024, an accelerator designed to support high-growth startups.

The initiative offers strategic funding, mentorship, and market access to emerging businesses. Leanworx plans to use the fresh capital to scale marketing and lead generation in India and Southeast Asia and advance product development, including hardware and software certification 

What does Leanworx do?

Leanworx was founded in 2017 by D. Srihari, Bhagavan S. K., and Dasarathi G. V. The startup provides an AI-powered machine monitoring system that delivers real-time, actionable data from shop-floor machines to decision-makers.

By sending information in under one minute, it aims to replace traditional data collection methods that can take 24 to 36 hours.  

“Leanworx Technologies aligns with our vision of backing scalable Industry 4.0 solutions. Their proven plug-and-play IoT system addresses critical inefficiencies in manufacturing. We were impressed by their strong early traction and robust sales funnel featuring industry leaders,” said Venkat Raju, Venture Partner at YourNest.  

Addressing a large and growing market

According to market research cited by Leanworx, India has more than three lakh metalworking machines and nine lakh machines in the fast-moving consumer goods (FMCG) sector. Globally, the Industry 4.0 market is said to be 60 times larger.  

1. Potential Annual Revenue in India: Rs 3,000 crore  
2. Potential Annual Revenue Globally: Rs 1.8 lakh crore  

Leanworx’s plug-and-play IoT solution aims to improve machine utilization — currently just 30% to 50% due to outdated paper-based processes — by providing near-instant, data-driven insights to managers.