TeamViewer invests ‘double-digit millions’ in Industry 4.0 duo to drive AI/AR IoT offer – RCR Wireless News

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German enterprise group-comms software provider TeamViewer, which has featured prominently in remote collaboration and augmented reality (AR) use cases for early private cellular network deployments, has invested a “low double-digit million” euro sum into two separate Industry 4.0 solution providers: US-based industrial data platform Sight Machine and Germany-based industrial IoT company Cybus. 

TeamViewer said the deals will “drive smart factory innovation” and the convergence of enterprise information and industrial production (operation) technologies (IT and OT), and set the company on the way to develop into a “leading enterprise software provider at the intersection of manufacturing infrastructure and IT systems as well as data analytics”. It said: “Investing in shop floor digitalization and factory connectivity is a logical next step for us.”

TeamViewer, headquartered in Goppingen and listed on the Frankfurt Stock Exchange, positions itself at the intersection of IoT, AR, and artificial intelligence (AI). It has 630,000 subscribers, employs 1,400 people, and posted revenue of €566 million in 2022. Oliver Steil, chief executive at the firm, said: “[We are] the de facto standard in remote connectivity [and] have developed into the frontline productivity space with AR workflows.”

Sight Machine, a Microsoft partner, provides a manufacturing data platform that collects, structures, and analyzes data from manufacturing operations, and uses AI tools to issue insights about quality control, plant performance, and predictive maintenance. TeamViewer is now a “major shareholder” in the firm, with a place on its board. The pair said they will develop a joint product and go-to-market strategy.

Cybus offers a ‘data hub’ to collect and distribute industrial data; it enables “communication between heterogeneous devices, machines, and processes”, said a statement. Clients include German-Swiss equipment manufacturer Liebherr, which makes equipment for mining,construction, maritime, and aerospace industries, as well as domestic appliances like fridges, and German firm KRONE, which produces agricultural technology and commercial vehicles.

TeamViewer’s new investment makes it a lead player in Cybus’ current financing round, and a part of the advisory board. It said it will “actively collaborate and provide strategic guidance” on the company’s development. Steil remarked: “With Sight Machine and Cybus, we are going to further drive the evolution of smart factory solutions and position TeamViewer as a catalyst in shaping the future of industrial digitalization.”

Jon Sobel, co-founder and chief executive at Sight Machine said: “We are excited to… offer a combined solution with TeamViewer… With its German and European roots, TeamViewer is closely tied to the regional manufacturing industry. This investment is testament to our shared commitment to harnessing the power of data to shape the future of smart factories.”

Peter Sorowka, chief executive at Cybus, said: “Partnering with a global market leader like TeamViewer is instrumental in tackling the challenges of industrial digitalization. Together, we want to shape this transformation and improve manufacturing efficiency.”

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