DesignX specializes in shopfloor hyper-automation with its industry-agnostic product suit DFOSTM (Digital Factory Operating System). DFOSTM is a SaaS based product to discover, analyze, design, automate, measure shopfloor processes.
According to Gartner Hyper-automation is a combination of tools, including Robotic Process Automation (RPA), intelligent Business Management Software (iBPMS) and AI, with a goal of increasingly AI-driven decision making. Also, “Hyper automation often results in the creation of a digital twin of the organization”.
Further Mr. Shreedhar Gupta Director of the Abhishek Group (part of the Indian Automotive Sector) and an investor in various start-ups has given his vote of confidence to DesignX vision by investing and joining as a board observer.
Also, this round saw the participation of a syndicate of industrial intellect lead by Mr. Ravin Sanghvi.
“The goal of DFOSTM is to provide a digital infrastructure helping manufacturing industry for a systematic digital transformation, as companies can’t keep on bootstrapping for every new digital need,” said Rajat Srivastav CEO & CPO DesignX.
“Already having a platform which provides a 360-degree connectivity of the shopfloor processes, we would be spending a good portion of the funding for adding most advanced techniques for adding more & more value to our customer operations,” said Nishant Srivastav, CTO of DesignX.
“I am excited to be guiding this young, energetic and talented team of DesignX scale up and become successful. I truly believe in the value of this product and firmly believe that it will immensely benefit any manufacturing company that uses it,” said Mr. Shreedhar Gupta, Director Abhishek Group and Board Observer of DesignX.
“As an early leader in IIoT, DesignX has built strong capabilities in IT-OT integration with its manufacturing customers thanks to deep domain knowledge and software expertise,” said Bhavish Sood General Partner at Modulor Capital and board member.
Ankur Gupta, head of investor relations at logistics firm Ecom Express Pvt. Ltd. also participated in the funding round.
Venture Garage, an advisory firm for early-stage start-ups, served as financial advisor to DesignX for the transaction. “DesignX has a strong clientele of global manufacturing companies. With Modulor Capital & Mr. Shreedhar coming on board the product offering and the traction will get a boost,” said Vineet Sagar, Co-founder & Managing Partner at Venture Garage.
Everis Consulting served as financial advisors and Sequitur as legal advisors to Modulor Capital.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.