Scottish Equity Partners leads investment of more than £70m in French software firm Braincube

Scottish Equity Partners (SEP) has spearheaded an €83 million (£72m) investment in a pioneering French software firm, in one of the largest deals led by a Scottish venture capital outfit.

Braincube says its manufacturing data software platform with specialist industrial applications is used across 35 countries. Picture: contributed.

Braincube, a manufacturing data software platform with specialist industrial applications, has raised the growth equity investment from the Glasgow-based investment vehicle and French state-owned investment bank Bpifrance.

SEP says Braincube’s Industrial Internet of Things (IIoT) platform helps manufacturers increase their profits using data insights to improve quality, productivity, and sustainability in their factories, adding that it has already saved customers – including global manufacturing giants such as Bridgestone – more than $10 billion (£7.9bn), and helped reduce carbon emissions by 2.5 million tonnes.

The company now has more than 250 employees across its operations in Europe, the US, and Brazil, with its software used on manufacturing sites, in sectors such as food and beverage, pulp and paper, building materials, and tires and plastics, across 35 countries.

SEP’s investment, billed as supporting Braincube’s global leadership in manufacturing software, was led by Andrew Davidson, Arpita Prasad, and Angus Conroy. The latter, a partner at SEP, which recently exited digital agency Tryzens, said: “Braincube is an impressive business, with a complex and [intellectual property]-rich product, excellent customers, and a track record of strong growth. The company has a leading position in a market which benefits from strong tailwinds, as manufacturers embrace Industry 4.0. There is excellent cultural alignment between Braincube and SEP, and we are excited to partner with the team for the next stage of growth.”

Also commenting was Laurent Laporte, founder and chief executive at Braincube, who said: “At Braincube we envision a world where every factory can operate at peak efficiency. Through using Braincube, manufacturers can successfully achieve their Industry 4.0 vision. We are delighted to be partnering with SEP, one of Europe’s leading growth equity investors in software companies, and Bpifrance, one of France’s leading investors. It is clear that in SEP and Bpifrance we have found long-term supportive partners who can help Braincube continue its global growth journey.”

Bpifrance’s investment was led by Mathilde Meunier Garcia and Luc Heinrich. The latter, MD of the Bpifrance Equity MidCap fund, said: “We have been impressed by the team and what they have achieved so far.”