Smart Cities

European IoT-Enabled Elevator Maintenance Startups Examined

In this Research Note, we examine several of the European startup firms addressing elevator maintenance solutions and services. This analysis covers the business models, stakeholders, funding and acquisitions of WeMaintain, Digital Spine and Uptime, accompanied by Memoori’s own assessment of these startups. The lift and escalator industry has been shaped by a small number of key OEM players - Otis, Schindler, Kone and ThyssenKrupp – who have all introduced digital tools and technology-enabled solutions for the maintenance and service business of their installed base.  However, they are now being challenged by a raft of independent new entrants who claim to disrupt the notion that only elevator OEMs can maintain their own brand and are providing facility owners and operators with data-driven maintenance solutions based on increased performance and at better prices. WeMaintain, a Paris-based French startup founded in 2017 is one of the most mature new entrants. The company launched in the UK in 2020 and […]

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