The UAE-based robotics solutions provider Maxbyte announced it raised a US$5 million Series A financing round from e& capital.
e& enterprise and Maxbyte have signed an MoU that set e& enterprise as the exclusive distributor and system integrator of Maxbyte products in the UAE.
Maxbyte is an innovator in the field of integrated digital and robotics solutions. The funding will strengthen the company’s market expansion and product development, enabling it to bring more innovative solutions that enable manufacturers in the digital age.
Maxbyte is a provider of Industry 4.0 solutions specialized in the automotive, defense, utilities, and food and beverage sectors.
The funding aims to boost the startup’s growth by developing the sales team, refining the go-to-market strategy and partnerships, and scaling projects across new geographies and industries.
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,” Farhat added.
Maxbyte provides services across three main domains, including Industry 4.0 and AI applications for digitizing industrial value chains to Smart and Sustainable Factories, robotics and automation solutions for enabling autonomous factories, and Industry 4.0 education programs to empower manufacturers and the adoption of digital transformation and Industry 4.0 journey.
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 toward 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. e& capital‘s strategic investment in Maxbyte aligns with the UAE’s national strategy to spread digital adoption across industries, particularly the Industry 4.0 paradigm.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.