WITRAC, the Industrial IoT startup secures €3m investment

by Startacus Admin

WITRAC, the Spanish startup specialising in Industrial Internet of Things (IIoT) solutions secures major investment.

WITRAC offers a complete solution that includes different advanced IIoT sensor devices and an AI data platform. The WITRAC Core, powered by proprietary algorithms based on artificial intelligence and machine learning, allows WITRAC to capture data and to run analytics driving advanced insights and automation.
The capital raised will help support the startup’s expansion plans and also help to strengthen its presence in key strategic markets including logistics and automotive. The money will also help WITRAC to accelerate the development of its IIoT hardware and software products.
Javier Ferrer, WITRAC’s CEO, commented that the main objective is “to consolidate WITRAC as a benchmark IIoT technology supplier in the UK, Germany and Spain and to prepare for an expansion into the US market in 2020”.
Speaking on the investment, Goldacre’s Managing Director, Fionnuala Hogan, said:
“As one of our RElab alumni, we are excited to further support WITRAC alongside our co-investors to internationalise their business and to accelerate growth within their core target sectors. We look forward to help building on their existing strong relationships with key global players within the space and continuing to harmonise the intersection between tech and production processes.”
It is a view echoed by Mundi Ventures with their General Partner, Rajeev Singh-Molares, commenting: “As a venture fund that focuses on supporting entrepreneurs with differentiated technologies and commercial promise, we are proud to announce our investment in Witrac. We look forward to adding strategic value in their growth and internationalization processes in the coming years.”
And we look forward to watching this innovative startup go from strength to strength!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.

Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.

The lowdown on FuturePlus, the startup that's on a mission to make sustainability accessible, achievable and affordable for all businesses.

John McLachlan, author and co-founder of Monkey Puzzle Training & Consultancy examines the differences between action-oriented and reflective leaders and which approach is best.

The fitness app that's not just about physical fitness; GoJoe helps employers to engage, motivate and connect their people across all pillars of wellbeing.

Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.

Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.

London-based startup Deep Render tackles the internet’s data and bandwidth challenges via its innovative AI-powered file compression technology.

The lowdown on Dublin-based startup and NUI Maynooth spin-out Neuromod Devices and its innovative evidence-based bimodal neuromodulation treatment for chronic tinnitus.

With the clear shift towards generative AI, Richard Hayes, search director at digital marketing agency Catalyst explores what it means for SEO...
Published on: 16th December 2019
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- Startup Sook Receives Investment from Tobin Capital 24th May 2023 Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
- L Marks Seeking Startups and Scaleups for Sodexo Healthcare and Seniors Accelerator 23rd May 2023 Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
- United Utilities Innovation Lab launches call-out for innovative ideas for fifth programme 18th May 2023 Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
- OneTech Spins Out from Capital Enterprise to Support Underserved Communities in Tech Across the UK 18th May 2023 Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.