SAMOTICS
13.12.2021 09:02:20 CET | Business Wire | Press release
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.
Samotics’ Software-as-a-Service (SaaS) platform uses AI to analyze the current and voltage signals of electric-driven motor systems – known as electrical signature analysis (ESA) – to prevent asset failure, optimize performance and improve energy efficiency. This offers unique benefits in harsh industrial environments (e.g. submerged pumps, hot strip mills) and is already being implemented at scale across the wastewater and water, steel, and chemical sectors. With a fast-growing base of high-profile customers and thousands of assets monitored, Samotics is scaling a solution that has the potential to cut global electricity consumption by at least 10%.
Supported by the tailwinds of the energy and condition monitoring markets growing at above 25% yearly, Samotics plans to leverage this latest round of funding to supercharge its growth. The investment will bolster the expansion of its customer base in existing and new markets, drive the development of its technology platform capabilities across both energy and condition monitoring, and grow the Samotics team by acquiring top technology and business talent.
“As one of the world’s largest energy consumers, heavy industry must realize significant energy savings to meet aggressive net-zero targets,” comments Jasper Hoogeweegen, CEO at Samotics. “Our rapid growth demonstrates how we are helping our customers on the journey to industrial sustainability by combatting downtime and boosting energy efficiency. This investment strengthens our reputation as one of Europe’s AI pioneers and allows us to accelerate our growth plans and lead the fight against industrial energy waste.”
Gil Goren, Partner at 83North said: “Samotics has established a leading position in the market with proven capabilities to address a defining challenge of our time. The team has built an industry-leading platform, significantly expanded its customer base, and demonstrated a clear trajectory for growth. We share Samotics’ vision that greener industry is not only achievable, but essential, and above all we believe in this talented and experienced team to make this vision a reality.”
The company has undergone significant growth over the past 12 months, increasing its revenue by 150% and adding 30 new customers to its roster across Europe and the US, including Thames Water and NLMK Steel. It has also signed several strategic partnerships, including Schneider Electric.
-ENDS-
ABOUT SAMOTICS
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211213005056/en/
Link:
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
57% of Brands Can't Prove ROI on Sports Fan Engagement Despite Rising Investment8.9.2026 11:30:00 CEST | Press release
Infobip’s new global research reveals a gap between higher spend and measurable ROI Research commissioned by Infobip, the global AI-first cloud communications platform celebrating 20 years, shows brands are significantly increasing investment in sports fan engagement even as many struggle to prove business impact. The global study of 500 marketing and digital leaders across industries, including retail, financial services, telecoms, travel, and food & beverage in 11 markets found that brands currently allocate an average of 13% of annual marketing budgets to sports-related activations, and nearly 73% expect investment to increase over the next 12 months. Yet while live sports moments generate the highest levels of fan engagement, nearly half (47%) of organizations admit they struggle to deliver real-time engagement during live events, and more than half (57%) say it is difficult to prove the ROI of their sports marketing investments. Ben Lewis, VP Marketing and Growth at Infobip, said:
Red Sea Global Unveils Nammos Resort AMAALA, Introducing Nammos’ First Resort Hotel Globally8.9.2026 10:59:00 CEST | Press release
The internationally renowned lifestyle and hospitality brand makes its debut in the Middle East Red Sea Global (RSG), the regenerative tourism developer, today announced the opening of Nammos Resort AMAALA, marking the launch of Nammos’ first resort hotel globally and a significant addition to AMAALA’s growing lifestyle and hospitality offering. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260908621917/en/ A marvellous view of the night sky from inside the resort hotel Set along the shores of Triple Bay with sweeping views across the Red Sea and Dumega Bay and designed around Nammos’ philosophy of Endless Joy, Nammos Resort AMAALA introduces the brand’s distinctive blend of Mediterranean sophistication and vibrant social energy to one of the world’s most comprehensive wellness destinations. “Nammos Resort AMAALA strengthens the diversity of experiences available across the destination bringing the unmistakable energy and s
Icon Solutions and MongoDB Benchmark Shows IPF Processing 6,000 Payments per Second with Zero Data Loss Under Failure8.9.2026 10:54:00 CEST | Press release
Joint benchmark on MongoDB Atlas demonstrates near-linear scalability, sub-second end-to-end latency and recovery from application and database node failures without losing a single transaction. Icon Solutions and MongoDB today published the results of a joint benchmark showing that the Icon Payments Framework (IPF), running on MongoDB Atlas, processed 6,000 end-to-end payment transactions per second (around 430,000 database operations per second) with a mean end-to-end latency of 0.51 seconds, and recovered from both application and database node failures with zero data loss. Account-to-account payment volumes are moving rapidly onto instant rails. Traffic is migrating from net-settlement schemes to instant schemes, and direct debit volumes are expected to partially move to request-to-pay with settlement through instant schemes. For banks, that means sharper traffic peaks, a growing share of payments bound to scheme SLAs of a few seconds, and no tolerance for downtime. Sustaining seve
NTT DATA Deploys AI-Powered Platform to Elevate Global Infrastructure Operations8.9.2026 10:00:00 CEST | Press release
Real‑time monitoring and predictive analytics improve stability and efficiency. Scope includes AI-enabled operations for IT and cloud infrastructure, SAP Basis and network operations worldwide. NTT DATA, a global leader in AI, digital business and technology services, is expanding the deployment of its AI-powered infrastructure operations platform to support complex global enterprise environments. The platform combines real time monitoring, predictive analytics and intelligent automation to enhance operational resilience, efficiency and visibility. Deployment of these capabilities includes support for one of the largest commercial vehicle manufacturers. “Our AI-powered platform significantly increases transparency and automation, providing the foundation for greater stability, faster response times and a future-ready IT architecture,” said Abhijit Dubey, CEO and Chief AI Officer, NTT DATA, Inc. “Our work with Daimler Truck is one example of how we canoperate global IT infrastructures s
Wolters Kluwer launches Libra Academy across Europe to help legal professionals realize the full value of legal AI8.9.2026 09:01:00 CEST | Press release
Developed by lawyers for lawyers, Libra Academy brings together learning resources, use cases and a European user community to accelerate AI adoption and customer success Wolters KluwerLegal & Regulatory today announced the launch of Libra Academy, a new learning and enablement platform around the company’s legal AI workspace Libra by Wolters Kluwer, designed to help legal professionals confidently integrate AI into their daily work. As legal teams increasingly look to move beyond experimentation and achieve measurable productivity gains, they face a new challenge: keeping pace with an AI landscape that evolves faster than traditional training can follow. New features, models, and use cases emerge continuously, making it difficult for busy legal professionals to stay current while managing the demands of their daily work. Libra Academy was created to close this gap. Built directly into the Libra experience, it provides continuous learning that evolves alongside the platform, helping cu
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