Smartlox, leaders in digital lockout tagout (LOTO) and smart access solutions, today announced the successful completion of its first funding round.
This infusion of capital positions the company for rapid expansion and technological advancements, further solidifying its position in the digital safety and security landscape. The timing of this funding is particularly strategic as heavy industries globally embrace digital transformation and automation to enhance safety efficiency.
The funding round is backed by the founder of a world-leading personal protective equipment and industrial safety product supplier, as well as a mining services and technology organisation. These strategic investments are poised to play a pivotal role in fueling Smartlox's growth initiatives.
Smartlox has achieved remarkable success since it was spun out of consulting firm A.I. LAMB in March 2022, securing over forty global customers across Australia, Africa, and North and South America in the Mining, Manufacturing, and Logistics sectors. Notable clients include Schneider Electric, Kinross Gold, and Ormat Technologies.
The Smartlox solution disrupts traditional lockout tagout practices through the use of electronic lockout devices and software-based lockout systems, streamlining the control of hazardous energy sources.
Brent Wijnberg, General Manager of Smartlox, was enthusiastic about the growth of the business.
We are thrilled to announce the successful completion of our seed funding round. It truly enables us to leverage the learnings from the last 18 months and shift into hyper-growth mode with a focus on sales and customer delivery," Brent said.
“The funds will be allocated to accelerate growth and expand the capabilities of Smartlox's solutions. Investments will target the enhancement of Sales and Customer Delivery Channels, and support the evolution of our product offering as we look to grow both locally in Australia and internationally with some of our blue-chip customers.”
“We are grateful to be given the opportunity to drive the next phase of our growth and thank our investors for their continued support."
The popularity of the Smartlox Starter Packs has been a significant driver of the company's success, providing customers with an accessible entry point to the company's innovative solutions.
The seed funding round marks a significant milestone for Smartlox, positioning the company for continued success as it disrupts traditional lockout tagout practices and contributes to the evolving smart access control landscape.