PR99418

EDMONTON, AB, Jan. 10, 2023 /PRNewswire=KYODO JBN/ --

    Nanoprecise Sci Corp, an AI-based Condition Monitoring & Prescriptive

Maintenance Solution provider raised USD $10 million in series B investment

from 4 new investors. The round was led by Export Development Canada (EDC),

with participation from Honeywell Ventures, NSK Ltd., and EC Mergers &

Acquisitions.

    Founded in 2017 by CEO Sunil Vedula, the core team of Nanoprecise comprises

industry specialists such as Graham Kawulka (Chief Commercial Officer),

Prashant Verma (Head of India Operations), and Dries Van Loon (VP of Customer

Success & Condition Monitoring). Nanoprecise drives value realization for

manufacturers & operators in a broad set of industries by providing them with

meaningful insights through a differentiated approach to machine health

monitoring. Nanoprecise utilizes ultra-low-power wireless sensors and

cloud-based AI-powered software that detects the smallest of changes in machine

performance and predicts the remaining useful life of any industrial asset.

    The automated end-to-end solutions from Nanoprecise strive to simplify

monitoring industrial assets involved in various complex manufacturing

processes, with patented signal processing algorithms and state-of-the-art

scalable hardware, to help operators maximize their uptime and improve their

energy efficiency.

    The investment from EDC — Canada's export credit agency wholly owned by the

Government of Canada, aims to boost the Canadian cleantech company's delivery

capabilities and product offerings in the Energy Efficiency & Condition

Monitoring Solutions space. The investment is aligned to the institution's

strong focus in scaling emerging Canadian cleantech companies that are

commercially well-positioned to enhance Canada's international competitiveness

in key priority areas.

    "Edmonton-based Nanoprecise Sci Corp's innovative AI-based equipment

sensors reduce energy consumption and downtime across many industrial

processes," says Carl Burlock, Executive Vice President and Chief Business

Officer at EDC. "EDC is pleased to have led Nanoprecise's Series-B investment

round alongside leading industry participants, a fundraising which will

accelerate the international deployment of their unique solutions."

    Moreover, Honeywell Ventures has joined as a board observer, with its

strategic investment in the AI-based predictive maintenance solutions provider.

This investment from one of the leading players in the industrial technology

sector is a testament to the premium differentiation that Nanoprecise solution

offers as compared to umpteen others existing in the market. With Honeywell's

investment, massive growth opportunities lay ahead for Nanoprecise Sci Corp.

NSK Ltd. – one of the top 3 bearing manufacturing companies in the world, and

EC Mergers & Acquisitions - the leading global investment banking boutique that

specializes in the industrial technology sector, have also chosen to back

Nanoprecise through this investment round, for Nanoprecise's high growth

potential and wide applicability of its solutions.

    "We are excited to have closed our Series B investment round and are

thrilled to welcome our new investors who bring in a deep set of industry

expertise and networks to Nanoprecise's board. We believe their enterprise

growth guidance will complement the depth of skills and experience represented

on our board and leadership team, as we continue to scale and maintain our

leadership in remote condition monitoring and energy efficiency monitoring

sector," said Mr. Sunil Vedula, Founder & CEO at Nanoprecise Sci Corp.

    About Nanoprecise Sci Corp

    Nanoprecise Sci Corp [ https://nanoprecise.io/ ] is an automated AI-based

predictive maintenance solution provider that specializes in the implementation

of Artificial Intelligence and IIoT technology for predictive asset maintenance

and reducing the carbon footprint of manufacturing plants. Nanoprecise is

defining the industry's service standard for the monitoring & analytics of all

types of industrial machines, through their leading energy efficiency & health

analytics platform for industrial assets. Nanoprecise is headquartered in

Edmonton, Canada, and works with companies across various sectors to help drive

their Industry 4.0 journey.

    Get in touch at solutions@nanoprecise.io

    Suraj Pisharody,

    spisharody@nanoprecise.io

    About EDC

    Export Development Canada (EDC) is a financial Crown corporation dedicated

to helping Canadian businesses make an impact at home and abroad. EDC has the

financial products and knowledge Canadian companies need to confidently enter

new markets, reduce financial risk and grow their business as they go from

local to global. Together, EDC and Canadian companies are building a more

prosperous, stronger, and sustainable economy for all Canadians.

    For more information and to learn how we can help your company, call us at

1-800-229-0575 or visit www.edc.ca　

    Photo: https://mma.prnewswire.com/media/1979628/Nanoprecise_Funding.jpg

    Source: Nanoprecise Sci Corp