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
comforte Launches TAMUNIO Assure to Modernize HPE Nonstop Cryptography for the Post-Quantum Era2.6.2026 10:10:00 CEST | Press release
New solution helps HPE Nonstop teams modernize SSH & SSL/TLS security using quantum-safe cryptography, centralize key and secrets management, and automate certificate and key lifecycles. comforte AG, a global leader in data-centric security for HPE Nonstop environments, today announced the launch of TAMUNIO Assure, a purpose-built solution for HPE Nonstop that helps organizations modernize cryptographic security without application rewrites or disruption to mission-critical systems. TAMUNIO Assure helps organizations enhance SSH & SSL/TLS security, centralizing keys, credentials, certificates, and secrets, and automating certificate and key lifecycle management across HPE Nonstop systems. The result is stronger security, more cost-effective operations, and a quantum-safe security posture without rewriting critical applications or introducing high-risk platform changes. The crypto operating model for HPE Nonstop is changing HPE Nonstop systems power some of the world’s most demanding tr
NIPPON KINZOKU Launches Sample Supply of “Internally Polished Capillary Tubes” for High-Performance Analytical Instruments2.6.2026 10:01:00 CEST | Press release
- Achieving Internal Surface Roughness of Ra ≤ 0.2μm in Ultra-Small 0.30 mm ID Tubing - NIPPON KINZOKU CO., LTD. (TOKYO: 5491) (Headquarters: Minato-ku, Tokyo) announces the launch of a sample supply system for its "Internally Polished Capillary Tubes." This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260602111592/en/ Cross-section of the tube after polishing These tubes feature significantly enhanced internal smoothness in ultra-small sizes, realized through the development of the company’s proprietary internal polishing technology. We are currently proceeding with the design and construction of manufacturing equipment, aiming for mass production within fiscal year 2027. Background: Rising Demand for "Ultra-Small Diameter x Ultra-Smooth Internal Surfaces" We have previously developed high-precision, small-diameter tubes made of austenitic stainless steel with an internal diameter (ID) of 0.50mm and internal surface roughness
OPEX® Honored with Warehouse Automation Solution of the Year Award for First-of-its-Kind Cold Storage Solution2.6.2026 10:00:00 CEST | Press release
OPEX® Corporation, a global leader in Next Generation Automation providing innovative solutions for warehouse, document and mail automation, has been honored by Logistics Matters magazine with the 2026 Warehouse Solution of the Year Award. OPEX was recognized for the company’s first-of-its-kind, multi-temperature zone, multi-deep cold storage solution for automated warehouse fulfillment systems, enabled through a strategic technology partnership with cold chain commerce innovator Peltier. The collaboration introduced advanced, multi-temperature capabilities to OPEX’s industry-leading Perfect Pick® and Infinity® automated storage and retrieval systems (AS/RS) through the addition of the Peltier Tote™. “We’re deeply honored to receive such distinguished recognition by Logistics Matters magazine,” said Monty McVaugh, Head of Product, Warehouse Automation, OPEX. “By integrating Peltier’s tote technology into the existing framework of Perfect Pick and Infinity, OPEX can deliver a flexible,
Smartstream Launches Smart Agents for Back-Office Operations, Proven Across Tier 1 Pilots2.6.2026 09:55:00 CEST | Press release
Key Facts Smart Agents is now widely available to Smart Reconciliations clients, covering bank reconciliations, cash breaks, settlement exceptions, and post-trade investigations — combining client institutional knowledge with Smartstream’s domain expertise to deliver value from day one. Pilot results demonstrate a 97% reduction in investigation time per exception, from 14 minutes manually to 30 seconds, with Tier 1 clients projecting 50–70% automation in year one. Smart Agents surfaces the steps requiring human action and executes everything else autonomously — including counterparty and internal communications, available in assistive and autonomous operating modes with human-in-the-loop oversight, full audit trail, step-by-step explainability, complete data privacy, and intelligence that compounds continuously over time. Smartstream, a trusted data solutions provider for leading global financial institutions and enterprises, today announced the availability of Smart Agents, its agenti
ThetaRay Gamifies Financial Defense at Money20/20 Europe with a Compliance Twist on “Where’s Waldo”2.6.2026 09:30:00 CEST | Press release
With “Spot The Money Mule”, ThetaRay unites Agentic AI and public education to disrupt criminal recruitment; pushing for an ecosystem-wide stand against illicit finance. ThetaRay, a leader in AI infrastructure for financial crime compliance, today unveiledSpot The Money Mule at Money20/20 Europe. The high-speed online game is a compliance twist on "Where’s Waldo" for the AI age, designed to bridge the gap between complex banking infrastructure and the public’s role in stopping global crime. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260602629234/en/ The game challenges players to find a money mule hidden in plain sight across five buzzing everyday scenes, from the morning rush at an airport to the vibrant rows of a Dutch Tulip Festival. “In the AI age, the most dangerous threats are those that blend perfectly into the speed of our digital lives,” said Garima Chaudhary, VP Financial Crime & Compliance AI at ThetaRay. “In
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