Valencian Witrac closes a round of 3 million

Witrac, startup specialist in industrial Internet solutions of Things (IIoT) for manufacturing and logistics companies, has obtained 3 million euros in an investment round led by the funds Goldacre Ventures and Mundi Ventures, who become part of the board of directors of the startup. Clave Mayor, through its funds Tech Transfer UPV and Mondragón Fondo de Promoción, has also participated in the operation.

The capital injection will be used to support the company’s expansion in Europe and the United States, in addition to strengthening its presence in strategic sectors such as logistics and automotive, among others. According to Javier Ferrer, CEO of Witrac, the main objective is “to consolidate Witrac as a reference IIoT technology supplier in the United Kingdom, Germany and Spain and to prepare for the arrival in the US market in 2020”.

Read the full story at Levante-EMV.