ProGlove raises $40m for industrial wearables growth
Written by Peter Walker
Industrial wearables firm ProGlove has announced a $40 million investment from global growth equity firm Summit Partners.
It plans to use this funding to expand its international footprint and connect more of the world’s workforce with the industrial Internet of Things (IoT).
Founded in 2014, ProGlove offers a scanner glove designed to improve the efficiency and effectiveness of scanning processes used across the manufacturing, logistics, transportation and retail sectors.
Its products are integrated into the factory and warehouse floor processes at companies like Audi, BMW, Bosch, Daimler, DHL and Lufthansa Technik.
The smart glove provides an ergonomic, hands-free barcode scanning solution, which the company claims can reduce scanning time by up to four seconds per scan, compared to hand-held scanners. It also provides direct feedback to the user via optical, haptic and acoustic signals, helping to eliminate mistakes and improve overall process quality.
Andreas Koenig, chief executive of ProGlove, said: “Industrial wearables define the future of assembly, production and logistics processes – our smart wearables are designed to function as a natural extension of the workers’ tools, strengthening the role of the human in today’s automated world.”
ProGlove got its start after earning recognition in Intel’s 2014 Make it Wearable challenge. Following an initial product development phase, ProGlove began commercialising its scanner glove in 2016 and now serves more than 500 customers around the world from its offices in Munich and Chicago.
“The market for industrial wearables is large and rapidly growing, and we believe ProGlove is well-positioned for continued growth as manufacturing and shipping processes increasingly depend upon smart scanning solutions to optimise productivity,” said Johannes Grefe, a principal at Summit Partners, who has joined the company’s board of directors.