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Magneto
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About Magneto
Magneto Systems, founded in 2017 by Georgi Grygorian, Angel Tenev, and Boyan Zahariev, provides a low-code industrial automation platform designed for manufacturing companies. The founders identified a gap in the market for a flexible and fast automation solution that could integrate with existing factory hardware and software without extensive coding knowledge. Grygorian, with a background in robotics and factory automation, serves as the CEO. Tenev, the CTO, brings experience from the industrial automation sector, and Zahariev, the CPO, has a background in software development.
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The company's core offering is a software platform that enables engineers to create and manage automation workflows for production lines. It utilizes a drag-and-drop interface, allowing for the visual programming of industrial robots and programmable logic controllers (PLCs). This approach aims to significantly reduce the deployment time and cost associated with traditional automation solutions. The platform is hardware-agnostic, meaning it can connect with a wide range of industrial equipment from different manufacturers. It serves clients in sectors such as automotive and machine building. The business model is based on a licensing fee for its software.
At a glance
- Status
- Operational
- Founded
- 2020
- Headquarters
- Delft, Netherlands
- Employees
- 15
- Open positions
- None listed
- Dealroom signal
- 65.2/100
- Sub-industry
- Clean Energy, Energy Efficiency, Waste Solution
- Sector
- Energy, Waste Reduction, Spinout, Sustainable Development Goals, Urban Tech, EIC
- Technology
- Artificial Intelligence, Hardware, Deep Tech, Machine Learning
- Business model
- Manufacturing
- Client focus
- b2b
Latest news
Press, funding announcements and product moves mentioning Magneto.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VC✓Equity / VC | Nov 2024 | $330K | $1.3M | Undisclosed | — |
| GRANT✓Other financing | Mar 2023 | $2.5M | — | European Innovation Council | — |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Magneto is 1.4K monthly website visits, down 30% over the last three months. Magneto's team grew 25% over the past year.
Similar companies
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed5 investors entered at this stage
Rabobank
Delft Enterprises
SHIFT Invest
Graduate Ventures
European Innovation Council
Other known investors3 additional known investors
TU Delft
YES!Delft
EIT RawMaterials
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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