Meidensha Corporation (Meiden) signed Investment Agreement with a Polish startup Elmodis Sp. z o.o, a company that specializes in IoT remote monitoring and asset optimization of electric motors and industrial machines on December 21, 2020. Meiden has made a big leap by implementing its new business development investment initiative through open innovation1, one of the Mid-term management strategy of Meiden.

Based in Poland, Elmodis is a mid-stage2 startup founded in 2015, with its main business operations in Europe, offering an end-to-end hardware&software solution that enables OEMs and end-users to remotely monitor performance of their machines (motor, load device, etc.) in real time.



With this acquisition, Meiden is scaling up to innovative and sustainable business partnership with the customers based on proven, reliable technology know-how that has been accumulated over 120 years and the benefits of leveraging Elmodis’ advanced motor current and voltage analysis technology, solving customer needs such as extending asset life and maximizing uptime (reducing unplanned downtime).

1. A method of developing innovative business models, products and services by combining technologies, ideas, services and data possessed or provided by different fields and industries beyond the framework of organizations and individual technologies

2. One of the growth stages of a startup (seed, early, mid and late stage). Mid-stage and above demonstrated viability as a going concern and is focusing on KPI based measurable growth in users, customers and revenues and/or market traction and market share in a big or fast-growing target market

 

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Public & Investor Relations Division
e-mail: kouhou@mb.meidensha.co.jp