Nanoprecise Closes US$38M Series C

Whats Happening:

Nanoprecise Sci Corp has secured US$38 million in Series C funding to expand its AI-powered Energy-Centered Maintenance (ECM) solution. The oversubscribed round, led by Yaletown Partners and co-led by BDC's Industrial Innovation Venture Fund, includes participation from Export Development Canada, BMO Capital Partners, and a credit facility from CIBC Innovation Banking. The fund aims to scale its predictive maintenance technology globally, enhancing industrial efficiency and sustainability.

Key Moves:

• Nanoprecise raises $38M in Series C funding

• Yaletown Partners leads the round, co-led by BDC's Industrial Innovation Venture Fund

• Funds to be used for global expansion of Energy-Centered Maintenance solution

By The Numbers:

• Nanoprecise achieved triple-digit growth in 2024

• Less than 1% false positives and negatives in AI-driven diagnostics

• Solution covers 80-90% of rotating equipment in process industries

Key Quotes:

• "Predictive maintenance is no longer a 'nice-to-have' - it's a strategic necessity for industrial resilience and efficiency," - Hans Knapp, Partner at Yaletown Partners

• "Nanoprecise's strength lies in their diverse approach - both in terms of the global markets they serve and their team composition." - Erin Sheets, Partner at BDC's Industrial Innovation Venture Fund

• "With this investment, we're taking maintenance from a game of guesswork to a strategic advantage." - Sunil Vedula, CEO of Nanoprecise

Bottom Line:

Nanoprecise's successful Series C funding round positions the fund to revolutionize industrial maintenance through its AI-driven Energy-Centered Maintenance approach. By providing actionable insights beyond simple alerts, Nanoprecise aims to make maintenance teams more proactive and informed, potentially transforming industrial efficiency and sustainability practices globally.

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