Abu Dhabi – Mubasher: e& capital, part of e&, led a $5 million funding round to boost the expansion of Abu Dhabi-based technology firm Maxbyte, according to a press release.

Maxbyte, a leading provider of Industry 4.0 solutions, aims to help smart connected industrial enterprises to secure flexibility, productivity, predictable revenue, and profit growth, as well as sustainability.

The Series A financing will be used to accelerate the company's growth by reinforcing the sales team, enhancing the go-to-market strategy and partnerships, as well as scaling projects across new geographies and industries.

Eddy Farhat, Executive Director at e& capital, said: “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.”

Ramshankar CS, Co-Founder and CEO of Maxbyte, noted: “This pivotal partnership accelerates our journey to spearhead technological evolution, fortify smart manufacturing, and empower UAE and global industries.”

“This new partnership with e& capital opens doors to even greater possibilities, enabling us closer to our vision of a smarter, more connected industrial world,” he added.

Last June, e& enterprise and Maxbyte inked an agreement, under which the two joined forces to deliver enhanced solutions for Industry 4.0 in the MEA region.