Newcastle's 10x Labs acquires Jaegersoft in first acquisition

Newcastle-based AI and software company 10x Labs has acquired Jaegersoft, a Charlestown firm that builds industrial software for mining, manufacturing, agriculture and insurance businesses. 

The deal is 10x Labs' first acquisition and financial terms were not disclosed.

The company said buying established software and robotics businesses is one avenue for growth, with a focus on bringing AI to industrial operations.

Jaegersoft, founded in 2020 by Viv Jayachandran and Max Wroe, employs seven developers and will keep its name and Newcastle address under the new ownership.

Its work spans digital twins, AI-driven automation, sensor and machine connectivity, and upgrades to legacy industrial systems. Clients have included Tomago Aluminium, Orica, Rapid Spray, KBA Insurance Repairs, the University of Newcastle, The Mutual Bank and EngageRM.

10x Labs was founded in 2025 and has grown from three staff to more than 40 in its first 18 months. It serves clients in energy, field services, health, financial services and manufacturing across its Newcastle and Sydney offices.

"AI got to the office first. The bigger opportunity now is in the places where things are actually made, and the businesses already working there are the best way in," said Ben Burns, co-founder and managing partner at 10x Labs.

"Jaegersoft knows how a plant, a mine or a spray rig really works. We know how to build AI. Putting the two together means we can take what’s worked in the office onto the factory floor and the mine site.”

“We’ve spent six years building software that has to survive a plant or a mine,” said Jayachandran.

“We joined 10x Labs to put AI to work inside those businesses at scale. Our clients keep the same team and the same way of working.”

“Getting AI and industrial hardware to work together is hard, unglamorous work, and it’s what we’ve done since 2020,” said Wroe.

“With 10x Labs behind us, we can take on more clients and larger projects than a seven-person team could on its own.”

“The usual playbook in tech is to raise money first and build later. We did it the other way round: get profitable, then acquire,” said Keeva Speyer, co-founder and managing partner of 10x Labs.

“That puts us in a position to buy for capability. In Jaegersoft we found a business with deep industry expertise, strong client relationships and founders who want to keep building it.”