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
Steady concentration PD with the Carry Life UF system increased ultrafiltration nearly threefold and sodium removal nearly tenfold vs 2.5% dextrose CAPD, while improving glucose efficiency and supporting enhanced fluid management in PD patients4.6.2026 16:45:00 CEST | Press release
Triomed AB today announced positive results from a prospective, multicenter, randomized, crossover study evaluating steady concentration peritoneal dialysis using the Carry Life UF system in adult patients undergoing CAPD. The study demonstrated significant improvements in ultrafiltration, peritoneal sodium removal and glucose ultrafiltration efficiency (ultrafiltration volume in relation to glucose absorption) compared with standard 2.5% dextrose CAPD in the home setting over four weeks. The study results were presented as a Focussed Oral presentation based on a late-breaking clinical trial abstract at the European Renal Association (ERA) Congress in Glasgow, United Kingdom, and simultaneously published in the Journal of the American Society of Nephrology (JASN). In this study, participants received their standard CAPD treatment during the control arm, whereas in the Carry Life UF arm, one daily 2.5% dextrose exchange was replaced by a Carry Life UF treatment three days per week, and
The Empire State Building’s Tastes of New York Experience to Feature Eataly4.6.2026 16:44:00 CEST | Press release
Gelato, cannoli, and tiramisù available on the 86th Floor Observation Deck from June 4 through Aug. 31 The Empire State Building (ESB), the “World’s Most Famous Building,” today announced that it will feature Eataly as its latest Tastes of New York Experience, a year-round offering of pop-ups which feature unique New York City bites. From June 4 through Aug. 31, Eataly will bring its New York City spin on “la dolce vita” to the Empire State Building’s iconic Observation Deck with a curated selection of its most beloved desserts and beverages. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604332533/en/ Gelato, cannoli, and tiramisù available on the 86th Floor Observation Deck from June 4 through Aug. 31 “We are excited to present Eataly’s true ‘estate Italiana’ as part of our year-round featured Tastes of New York to our visitors,” said Dan Rogoski, observatory general manager. “The Empire State Building can be seen and p
JCÖNTENTS “Zip to your destination, even with a language barrier.”4.6.2026 16:00:00 CEST | Press release
Converting a map into a QR code! Launching GOPin, the app that connects inbound tourists with taxis! So convenient, you’ll wonder why it never existed before! JCÖNTENTS releases free GOPin smartphone app on June 1! JCÖNTENTS Co., Ltd. (Kyoto Prefecture; Representative: Takamasa Yoshimitsu) released the free GOPin app for smartphones on June 1! GOPin is a completely new, multilingual navigation app that connects tourists visiting Japan with local taxi drivers through QR codes. All users have to do is select where they want to go on the map and show the QR code. The taxi driver will scan that to instantly display an accurate route in Google Maps. No more worries about entering addresses or pronunciation issues. GOPin doesn’t require any user registration and is free to use. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260601449250/en/ GOPin! For Visitors to Japan Say goodbye to the language barrier— just show your smartphone
Impartner Recognized as a Leader in G2 Summer 2026 Enterprise Grid® for Partner Relationship Management4.6.2026 15:00:00 CEST | Press release
Named a G2 Leader in both Partner Relationship Management and Through-Channel Marketing, reflecting strong customer satisfaction and enterprise momentum. Impartner, the world’s leading partner revenue orchestration platform, today announced it has been named a Leader in the G2 Summer 2026 Enterprise Grid® Report for Partner Relationship Management (PRM). The recognition underscores Impartner’s strong customer validation and continued momentum among enterprise organizations managing large-scale partner ecosystems and indirect sales channels. In the Summer 2026 report, Impartner earned Leader status based on strong customer satisfaction and adoption across organizations operating at scale. G2’s findings show a 4.5 out of 5-star rating from more than 500 verified reviews, with 91% of users indicating they would recommend the platform. Customers gave high marks for key capabilities, including Role-Based Permissions, Deal Management, and Content Repository, with Ease of Doing Business With
Fortegra Appoints Mark Rattner as President4.6.2026 15:00:00 CEST | Press release
The Fortegra Group, Inc. ("Fortegra" or the "Company"), a global specialty insurer and part of DB Insurance Co., Ltd., today announced the appointment of Mark Rattner as President. Mr. Rattner, who previously served as Executive Vice President and Chief Underwriting Officer, Insurance, brings a decade of Fortegra leadership and long-standing relationships with reliable distribution partners to his expanded role. Drawing on disciplined underwriting expertise built over a career spanning more than three decades, Mr. Rattner is focused on delivering the highest value and consistent results to the agents and brokers the company serves. His appointment reflects Fortegra’s continued investment in the people and partnerships that drive long-term, sustainable profitability. “Mark has been central to building Fortegra into the company it is today. His industry experience, knowledge, and trade craft make him the right person for this role. As we continue to evolve, Mark will enhance our partners
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