SAMOTICS
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
Taylor Wessing Diversifies Its International Strategy17.12.2025 15:05:00 CET | Press release
International law firm Taylor Wessing is set to diversify its strategy within its international alliance, in order to push international growth and innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251217415857/en/ Dr. Oliver Bertram, Global Co-Chair at Taylor Wessing The English part of the partnership is seeking a merger with US law firm Winston & Strawn and would – depending on a corresponding partner decision, which is still pending – leave the Taylor Wessing alliance at the end of April 2026. Both parties wish to continue their successful joint international client work unchanged. Therefore, collaboration between Taylor Wessing and future Anglo-American firm Winston Taylor will continue seamlessly based on a cooperation agreement, ensuring that clients will not experience any change in their collaboration with Taylor Wessing. With the firm’s new open strategy, Taylor Wessing equally meets the strategic requirem
ISACA to Lead Global Credentialing for CMMC Cybersecurity Framework as International Cyber Readiness Standards Rise17.12.2025 15:00:00 CET | Press release
ISACA appointed to certify professionals assessing organisations against the US Department of War’s (DoW) Cybersecurity Maturity Model Certification (CMMC) programme.New requirements mean that all global businesses supplying to US DoW will need to be compliant with this framework, impacting over 200,000 organisationsAppointment supports global demand for consistent, verifiable cyber maturity amid escalating cyber threats and growing assessor shortages.The Cyber AB remains the official accreditation body for the CMMC programme, authorizing the CAICO and other CMMC ecosystem parties As cyber threats escalate and governments raise expectations around operational resilience, ISACA has been appointed to lead the global credentialing programme for the U.S. DoW’s Cybersecurity Maturity Model Certification (CMMC) program. The appointment positions ISACA – the international association for cybersecurity, audit and digital trust – as the exclusive CMMC Assessor and Instructor Certification Organ
ASN Bank Signs a Contract With HCLTech to Accelerate Digital Transformation and Enhance Customer Experience17.12.2025 14:43:00 CET | Press release
HCLTech, a leading global technology company, today announced that it has been selected as a strategic partner by ASN Bank (formerly de Volksbank), the fourth-largest retail bank in the Netherlands. As part of its new strategy ‘Simplify and Grow’, ASN Bank aims to modernise and standardise its IT architecture, which will involve consolidating IT services, simplifying the vendor landscape and building a future-ready organisation. Under the multi-year agreement, HCLTech will support ASN Bank’s enterprise applications, and streamline services through a distributed delivery model to enhance efficiency and customer experience. Michel Ruijterman, Chief Information Officer, ASN Bank: “By signing this agreement , HCLTech’s proven track record in delivering scalable, innovative solutions tailored to the financial services sector means we can now confidently press on with streamlining our business by reducing the number of existing products and aligning the underlying processes and systems under
Riskified Announces Ascend 2026: “Intelligence in Motion” for the Next Era of Ecommerce17.12.2025 14:30:00 CET | Press release
From North America to the Asia-Pacific, Ascend 2026 will bring together leaders from the fraud and risk management community to define innovation-led ecommerce growth strategies Riskified (NYSE:RSKD), the leader in AI fraud and risk management for ecommerce, has announced that its premier global summit Ascend will once again be held as a global event series in 2026. Kicking off with North America (May) and continuing to Europe (June), Australia (August), China (September), and Japan (October), Ascend will convene each region’s largest merchants, industry experts, and technology leaders to discover the latest AI advancements and innovative strategies to propel ecommerce success. “Having pioneered using AI to fight ecommerce fraud and policy abuse over the past 10+ years, it’s equally exhilarating as it is concerning to witness the dramatic impact AI and agentic commerce are making on our industry. As risk grows more complex and shopper expectations rise, fraud teams and customer experie
Sinovac: Antigua Court Makes Interim Order Giving Board Control of the Company until the Trial of the Disputed 2025 Shareholder Meeting17.12.2025 13:00:00 CET | Press release
Sinovac Biotech Ltd. (NASDAQ: SVA) (SINOVAC or the Company), a leading provider of biopharmaceutical products in China, today announced that the Antigua High Court has ordered that the directors Mr. Simon Anderson, Mr. Shan Fu, Mr. Shuge Jiao, Mr. Yuk Lam Lo, Mr. Yumin Qiu, Mr. Yu Wang, Mr. Andrew Y. Yan and Mr. Yin Weidong (collectively, the Board), will comprise the Board of the Company until the trial listed in late April/early May 2026. The Antigua High Court decision arises from a hearing that took place on 27 October 2025, at which applicants SAIF Partners IV L.P., OrbiMed Partners Master Fund Limited and 1Globe Capital LLC each sought injunctions to confirm the composition of their respective favoured Boards, pending determination of a dispute over the outcome of the Company’s Special Shareholders Meeting on 8 July 2025 (the SSM Dispute). The hearing of the SSM Dispute has been scheduled to take place in the Antigua High Court in late April/early May 2026, with judgment to be de
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