2022 Cohort > Lenz Labs

Lenz Labs

Business Proposition

Lenz Labs are an IP-driven predictive maintenance start-up developing essential condition monitoring components and AI-enabled technologies that increase reliability, reduce damage and optimise the efficiency of rail operations to ensure the railway pipeline always remains open.

The founding team are on a mission to build a high-growth business that ensures train delays become a problem of the past. With its hybrid product retrofitted at the wheel-rail interface, Lenz Labs are strategically positioned to take advantage of the dynamic revalorization of service reliability and commercial performance across the convoluted rail ecosystem.

Our vision? To bring predictive maintenance to railway operations as the service provider of everything wheel-rail interface. How will we achieve this? By bridging the gap between knowledge and action with an integrated wheel-rail interface solution.

An immediate shift from periodic to predictive maintenance is constrained by insufficient data to feed predictive algorithms and a lack of deployment of resources that minimise disruption. Train delays and service downtime traceable to issues at the wheel-rail interface are leading to £345m in lost operator revenue, £300m in performance fines and over £215m in emergency maintenance and renewals in the UK alone.

As the global legacy rail players reassess their strategic positioning in an intensified competition, Lenz Labs have the ambition to deliver value in the emerging service model and seek funding to become an essential component to the new market configurations through an IP-driven product suite that delivers under an innovative contractual setting. Lenz Labs’ product suite senses, predicts and controls the interface between track and train, reducing asset damage, maintenance costs and increasing reliability to ensure the railway always delivers for both passenger and freight services.

With a patented electromagnetic device, an AI-driven platform and an innovative commercial orchestration to leverage a reduction in the track access charge, Lenz Labs are bridging the gap between knowledge and action at the wheel-rail interface. With a dynamic co-founding team, Lenz Labs have the conviction to be strategically superior in the wheel-rail interface and build a dominant force in the emerging rail predictive maintenance market.

Beyond capturing a share of the imploding after-sales segment of the $147bn railway technology market, Lenz Labs are determined to become a key player in the industry’s value pool shifts, with the ultimate mission of maximising the social and environmental value that a reliable, accessible, and safe rail network can deliver.

We are seeking to raise £2m in funding at a pre-money valuation of £7.2m to bring all products to market and secure their first £1m in ARR.

Investment Ask