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Samotics Completes Series A Funding Round To Lead Fight Against Industrial Energy Waste

Dec 13, 2021•over 3 years ago

Round Type

series a

Leiden

Description

Samotics, a leading provider of real-time actionable insights to eliminate industrial energy waste and unplanned downtime, has completed a EUR 14.5 million Series A funding round. The round was led by 83North, a global venture capital firm with a proven track record in building category leaders across multiple domains including Internet of Things (IoT) and Artificial Intelligence (AI) technologies.

Company Information

Company

Samotics

Location

Leiden, South Holland, Netherlands

About

Samotics is a leading provider of real-time actionable insights to optimize performance and energy efficiency of AC motors and rotating equipment. An expert team of data scientists, software developers and technical specialists has developed an AI-driven platform that supports global industrial companies in reducing energy waste and unplanned downtime. Our customer base includes sector-leading players such as Anglian Water, ArcelorMittal, Nobian, Schneider Electric and TotalEnergies. For more information, visit www.samotics.com and follow us on LinkedIn and Twitter. ABOUT 83NORTH 83North is a global venture capital firm with over $1.8B under management. The fund invests across all stages, in exceptional entrepreneurs, whose focus is to build global category leading companies. For more information visit www.83north.com and follow us on Twitter @83NorthVC. 83North has backed more than 80 companies including AeroScout (acquired by Stanley Black & Decker), Celonis, Ebury, Guardicore (Acquired by Akamai), Hybris (acquired by SAP), IronSource (NYSE: IS), iZettle (acquired by PayPal), Just Eat (LSE:JE), Marqeta (NASDAQ: MQ), Mirakl, Payoneer (NASDAQ: PAYO), ScaleIO (acquired by EMC), SocialPoint (acquired by Take2), Vast, Vdoo (acquired by JFROG), Via, Wandera (acquired by Jamf) and Wolt.