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We're thrilled to announce our participation in Digital Iron’s $2 million pre-seed round, an exciting Vertical SaaS and Marketplace business eyeing the heavy machinery industry. We're joining this exciting journey alongside Seedcamp, FJ Labs and RTP Global.
In the world of heavy machinery, downtime isn't just an inconvenience—it's a significant financial blow. Each machinery failure costs operators approximately $41,000 due to downtime, rentals, and overtime staff costs. This ripple effect impacts infrastructure and construction projects globally, underscoring the critical need for a solution.
Digital Iron addresses this challenge head-on, offering a game-changing approach to machinery maintenance and dealer support.
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Founded by serial entrepreneur Ciaran Gillen (CEO) and Salina Brown (CPO), Digital Iron is set to transform how heavy machinery dealers and operators interact with their equipment by integrating with dealership knowledge management systems, customer data, and machine data—all while streamlining the coordination of spare-part logistics.
Leveraging the power of Large Language Models (LLMs), Digital Iron extracts crucial signals from millions of fragmented data points across thousands of PDFs and telemetry data. This technology empowers dealers with accurate information and streamlined workflows to swiftly resolve customer issues and ultimately reduce machinery downtime.
At Concept Ventures, we're always on the hunt for teams tackling large, complex problems with cutting-edge tech and commercial nuance. Digital Iron checks all these boxes for us:
We're excited to support their growth and have them join our growing portfolio of Vertical SaaS and B2B Marketplace investments (👀).
As Digital Iron embarks on this journey to reduce machinery downtime and boost dealer revenues, we believe their solution can reshape the heavy machinery industry, leading to more efficient operations, reduced costs, and improved productivity.
We look forward to working closely with Ciaran, Salina, and the entire Digital Iron team as they build the future of heavy machinery management.
Stay tuned for more updates on Digital Iron's progress, and you can find more information on them at the links below:
