PROEMION
24.10.2022 08:44:42 CEST | Business Wire | Press release
Proemion, the multinational technology company creating hardware-enabled software solutions to connect mobile machines with humans, the cloud, and each other, today announced a €33.5M growth investment from Battery Ventures, the global technology-focused investment firm. In July, Battery announced new, global funds capitalized at a combined $3.8B.
Family-owned since its founding in 1987, Proemion creates connectivity solutions with proprietary telematics control units and accompanying cloud-based software. Proemion customers include original equipment manufacturers (OEMs) and mixed-fleet companies who use Proemion’s telematics solutions to operate machinery more efficiently through the use of remote diagnostics and analytics. Specifically, the technology allows customers—who operate in industries including construction, agriculture, logistics, and natural resources—to better manage equipment, plan maintenance, save fuel costs, monitor CO2 emissions, and more.
The predictive capabilities of Proemion telematics allow global customers to increase productivity with robust, cloud-based remote diagnostics while reducing operational costs and downtime.
With this growth investment from Battery—and anticipated future capital infusions from Battery and the founders—Proemion will expand international operations, execute other organic-growth initiatives and pursue acquisitions. As part of this transition, Robert Thomas Michaelides, current Proemion COO, will assume the role of chief executive officer.
“We are extremely proud of the business we’ve built and are now thrilled to unveil the next chapter of Proemion, with the partnership and support of the Battery Ventures team,” said Robert Michaelides Sr., who founded Proemion more than three decades ago. “As an experienced investor with specific expertise in software and industrial technology, including in Europe, Battery was a very attractive partner for us, and we look forward to working together over the long term.”
Added Robert Thomas Michaelides, now Proemion’s CEO, “As technology adoption in our industry accelerates, the landscape of equipment manufacturing and maintenance is shifting in turn, with a focus on remotely connecting machines with humans. With this investment, we can further scale, bringing our platform to more OEMs and partners around the world.”
“The ability to maintain fleets more efficiently and plan for machine maintenance and service also helps Proemion’s customers manage supply-chain disruptions, which have become more prevalent lately,” noted Battery Ventures Private Equity Partner Dave Tabors.
“Industrial applications of advanced technologies, such as Proemion’s telematics capabilities, are becoming more in demand today as OEMs, mixed-fleet operators, and other manufacturers seek to improve operational efficiency,” said Tabors, who has joined the company’s board of directors. “We see a tremendous amount of opportunity in this sector and look forward to partnering with the founding family to bring Proemion’s solutions to a global scale.”
As part of the investment, Battery’s Max-Julian Kaye is also joining Proemion’s board.
About Proemion
Founded in 1987, Proemion creates CAN devices and connectivity solutions for businesses of all sizes. Its mission is to empower people to make the best data-driven decisions, connecting their machines for success. Proemion has global offices in Fulda, Germany, Dayton, Ohio, and Seoul, South Korea.
For more information, please visit: www.proemion.com or follow us on LinkedIn.
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, consumer tech, healthcare IT, and industrial technology and life-science tools. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, New York, London, and Tel Aviv. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221023005045/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Galderma Receives U.S. FDA Approval for Differin® Epiduo® Acne Gel Prescription-to-OTC Switch22.5.2026 18:25:00 CEST | Press release
A unique Prescription-to-OTC switch in acne care, this approval expands access to a dermatologist-trusted, prescription-strength treatment for millions of acne sufferers ages 12 years and older Backed by more than 15 years of real-world dermatologist use and a robust clinical research program, this milestone demonstrates the depth of science behind the Differin® and Epiduo® heritage Adapalene plus benzoyl peroxide (0.1/2.5%) was the first FDA-approved, stable, fixed- dose prescription acne treatment to combine of benzoyl peroxide with a retinoid, and is now available over-the-counter The formulation is engineered to target multiple causes of acne more effectively than either of its individual active ingredients alone Galderma (SIX: GALD), the pure-play dermatology category leader, today announced that the United States (U.S.) Food and Drug Administration (FDA) has approved Differin® Epiduo® Acne Gel (Adapalene 0.1% and Benzoyl Peroxide 2.5% Acne Treatment) for over-the-counter (OTC) us
Avanzanite Bioscience’s Partner Agios Announces PYRUKYND® (mitapivat) Approval in the European Union for Adults with Thalassaemia22.5.2026 16:18:00 CEST | Press release
Avanzanite will commercialise and distribute PYRUKYND in Europe under its exclusive agreement with Agios Avanzanite is committed to collaborating with local authorities in the EU to enable access to PYRUKYND for adult patients with thalassaemia Avanzanite Bioscience B.V., a rapidly growing commercial-stage European specialty pharmaceutical company focused on rare diseases, today reported that its partner, Agios Pharmaceuticals, Inc. (Nasdaq: AGIO), a commercial-stage biopharmaceutical company headquartered in Cambridge, Massachusetts focused on delivering innovative medicines for patients with rare diseases, announced that the European Commission has granted marketing authorisation for PYRUKYND® (mitapivat), an oral pyruvate kinase (PK) activator, in adults for the treatment of anaemia associated with transfusion-dependent and non-transfusion-dependent alpha- or beta-thalassaemia, with an orphan medicinal product designation. This press release features multimedia. View the full releas
ICE Brent and ICE WTI Perpetual Futures to Launch on OKX22.5.2026 14:30:00 CEST | Press release
OKX, a blockchain technology and trading company serving more than 120 million customers globally,and Intercontinental Exchange (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets including the New York Stock Exchange, today announced plans for OKX to launch perpetual futures based on ICE's Brent Crude and WTI Crude energy benchmarks. The products are expected to be available to trade on OKX’s platform in jurisdictions where OKX is licensed to offer perpetual futures products. The new OKX contracts represent a major step forward in expanding regulated access to global commodity markets through digital asset infrastructure. This first product collaboration between OKX and ICE comes after the companies established a strategic relationship in March 2026. ICE operates some of the world’s leading exchanges, clearing houses and market data services across energy, commodities, fixed income and equities markets. ICE’s future
Enhertu® Recommended for Approval in the EU by CHMP for Patients with Previously Treated HER2 Positive Metastatic Solid Tumors22.5.2026 14:00:00 CEST | Press release
Enhertu® (trastuzumab deruxtecan) has been recommended for approval in the European Union (EU) as a monotherapy for the treatment of adult patients with unresectable or metastatic HER2 positive (immunohistochemistry [IHC] 3+) solid tumors who have received prior treatment and who have no satisfactory treatment options. Enhertu is a specifically engineered HER2 directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo (TSE: 4568) and being jointly developed and commercialized by Daiichi Sankyo and AstraZeneca (LSE/STO/NYSE: AZN). The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) based its positive opinion on results from patients with HER2 positive (IHC 3+) tumors in three phase 2 trials including DESTINY-PanTumor02,DESTINY-Lung01 andDESTINY-CRC02 where Enhertu demonstrated clinically meaningful responses across a broad range of tumors. The recommendation will now be reviewed by the European Commission, which has the authority
Future Health Challenge Awards USD 300,000 to Early Detection and Population Health Sensing Tools on Sidelines of World Health Assembly22.5.2026 13:45:00 CEST | Press release
Global teams recognised in the Future Health Challenge for solutions designed to detect health risks earlier and support faster health system decisions Future Health – A Global Initiative by Abu Dhabi and MIT Solve announce the winners of the inaugural Future Health ChallengeWinning solution equips frontline health workers in low-resource settings with mobile clinical decision-support tools, enabling earlier detection and more effective care deliveryTeams competed for a USD 200,000 grand prize and two USD 50,000 runner-up awards on the sidelines of the 79th World Health Assembly in GenevaWinners recognised for solutions advancing anticipatory, data-driven health systems Three global teams developing early detection and real-time population health monitoring solutions have secured a total of USD 300,000 on the sidelines of the 79th World Health Assembly. The winning solutions address critical challenges in early detection, continuous population insight and more timely decision making, s
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom