Vienna-based IoT and asset management scale-up ToolSense has secured a low double-digit million euro investment led by the Danish growth private equity firm GRO Capital. The financing, estimated at a minimum of 10 million euros, marks a strategic pivot for the company as it shifts its focus from broad asset operations toward specialized software solutions for facility management operations.

Founded by Alexander Manafi, Benjamin Petterle, Rostyslav Yavorskyi, and Michail Stamenov, ToolSense plans to utilize the new capital to fuel international expansion, strengthen its commercial organization, and accelerate product development. The roadmap includes expanding its AI and robotics capabilities and launching new platform modules to support the growing integration of autonomous systems in facility management.

ToolSense reports that it achieved profitability ahead of schedule in late 2024, crossing the 5 million euro annual recurring revenue mark. The company aims to scale this figure significantly in the coming years by positioning itself as a central management platform for robotics fleets and equipment, independent of specific hardware manufacturers. GRO Capital has acquired a minority stake of approximately 30 percent as part of the transaction.