UAE-based robotics solutions provider Maxbyte has raised a $5 million Series A from e& capital to expedite growth by bolstering the sales team, refining the go-to-market strategy and partnerships, and scaling projects across new geographies and industries.
Founded in 2016 by Ramshankar CS, Maxbyte is a provider of Industry 4.0 solutions with a presence in the automotive, defence, utilities, and food and beverage sectors.
Eddy Farhat, Executive Director at e& capital, said: “Our investment in Maxbyte is a significant milestone. Maxbyte’s innovative approach to automation technology positions it as an ideal partner for the Industry 4.0 revolution especially with its track record of success stories across the UAE, USA, SEA, and India. This investment will further its mission to digitally transform and automate companies.
“Maxbyte’s plug-and-play solutions not only support underserved smaller manufacturers but also have the capability to compete with rivals serving larger manufacturing companies through seamless integration. We believe that these solutions will contribute to reshaping the manufacturing landscape in the UAE and beyond.”
Ramshankar CS, Co-Founder and Chief Executive Officer of Maxbyte, said: “We’re thrilled to announce our partnership with e& capital. This exciting milestone is a testament to our shared vision and commitment to reshaping industries, driving transformative growth, and propelling our journey towards a future defined by boundless possibilities. This pivotal partnership accelerates our journey to spearhead technological evolution, fortify smart manufacturing, and empower UAE and global industries.
“We remain committed to delivering cutting-edge product byteFACTORY an industry 4.0 apps store integrated with robotics and automation that empower global industrial enterprise customers to thrive in this era of transformation. This new partnership with e& capital opens doors to even greater possibilities, enabling us closer to our vision of a smarter, more connected industrial world.”
Recently, e& enterprise and Maxbyte entered into a Memorandum of Understanding (MoU), designating e& enterprise as the exclusive distributor and system integrator of Maxbyte products in the UAE. The collaborative effort accelerates the digitisation of UAE’s manufacturing industry and resonates with the vision outlined by the Ministry of Industry and Advanced Technology (MOIAT) through its Operation 300bn programme.
e& capital’s strategic investment in Maxbyte harmonises with the UAE’s national strategy to expedite digital adoption across industries, particularly emphasising the Industry 4.0 paradigm.
As e& capital and Maxbyte combine their strengths, they jointly contribute to the national agenda, shaping the manufacturing landscape’s future through the prism of Industry 4.0. This investment serves as a pivotal step towards realising the shared vision of a digitally empowered future.