
Indurad
Solutions for the mining industry.
Date | Investors | Amount | Round |
---|---|---|---|
investor | €0.0 | round | |
* | N/A | Acquisition | |
Total Funding | 000k |
EUR | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
---|---|---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | - | - | - | - | - | 10 % | 10 % |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% EBITDA margin | - | - | - | - | 4 % | 6 % | 11 % |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% profit margin | - | - | - | - | 2 % | 3 % | 7 % |
EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Based in Aachen, Germany, Indurad GmbH operates as a specialized developer of radar-based automation and productivity solutions tailored for the mining, bulk material handling, and steel industries. The company was established in 2008 by Dr. Reik Winkel and Christian Augustin as a spin-off from RWTH Aachen University. Winkel, drawing from his R&D experience in mining with companies like Peabody Energy, identified a critical gap: million-dollar mining machines lacked the operator assistance systems common in the automotive industry. This insight led to the development of a 360° radar solution specifically for the challenging conditions of the mining sector.
Indurad's business is centered on providing technology that increases throughput, enhances safety, and minimizes downtime for its clients, which include five of the world's ten largest commodity companies. The company's offerings address operational bottlenecks from the mine to the port. Its business model includes both capital expenditure (CAPEX) for project-based implementations and operating expenditure (OPEX) through subscription services. The company engineers and manufactures its hardware in-house, including 1D, 2D, and 3D radar sensors, as well as Real-Time Location Systems (RTLS) and Ultra-Wideband (UWB) technologies. These proprietary sensors are designed to function reliably in harsh environments characterized by dust, vibration, and extreme temperatures, where optical sensors often fail.
The product portfolio is extensive, offering both plug-and-play products and customized, turnkey solutions. Solutions include systems for collision avoidance (iProximity), stockpile volume measurement (iStockpile), conveyor belt monitoring (iBelt), and positioning for large equipment (iPosition). These products are applied to a wide range of machinery such as crushers, stackers, reclaimers, shiploaders, and railcar dumpers to automate processes and improve operational intelligence. A key milestone for Indurad was its acquisition by Hexagon in November 2024, a move intended to accelerate the shift towards fully autonomous mines. As part of the deal, Hexagon also acquired Indurad's autonomous haulage subsidiary, xtonomy. Prior to the acquisition, Indurad had secured €4.5 million in funding to support its growth.
Keywords: industrial radar, mining automation, bulk material handling, collision avoidance systems, stockpile measurement, real-time location systems (RTLS), machine automation, process optimization, operator assistance, sensor technology, throughput capacity, asset optimization, pit to port solutions, shiploader automation, train loadout, conveyor belt monitoring, autonomous haulage, radar sensors, harsh environment sensors, digital twin