Viking Analytics raises Sequence A of greater than € 3mn for international growth

• Sweden-based Viking Analytics closed its Sequence A funding spherical with the assist of Finindus, Industrifonden and ABB.

• This spherical will enable Viking Analytics to speed up the event of machine well being monitoring options.

• Viking Analytics has additionally secured a business settlement with ABB to convey its machine well being monitoring answer to ABB’s switchgear merchandise.

GOTHENBURG, Sweden, Jan. 26, 2023 /PRNewswire/ — Viking Analytics AB, the Swedish firm creating AI-based machine well being monitoring know-how, as we speak introduced the closing of its Sequence A spherical. Viking Analytics’ Sequence A spherical was co-led by Belgium-based Finindus (backed by ArcelorMittal), and Sweden-based Industrifonden with ABB and present traders additionally taking part within the spherical.

The corporate additionally disclosed it has secured a business settlement with ABB for monitoring of their prospects’ switchgear merchandise. The funding funds in mobility and good industrial applied sciences and the business contract function recognition of the corporate’s capabilities and can enable Viking Analytics to speed up its technological growth and scale the commercialization of its options.

Dr. Rajet Krishnan, co-founder and CEO of Viking Analytics feedback,”We’re excited to have closed an oversubscribed spherical in an unusually powerful atmosphere. This funding is a powerful testomony to our distinctive worth proposition, market place and know-how readiness. We consider that our new traders will convey great worth with deep trade experience and networks to our journey in enabling in distant machine well being monitoring.” Lets Connect

Beginning operations in 2018, Viking Analytics is on a mission to allow each industrial service firm (like upkeep corporations, OEMs, and system integrators) to observe extra machines reliably. Vikings’ proprietary answer prioritizes the machines that want consideration, whereas offering related explanations for the prioritization. Moreover, consultants can present suggestions primarily based on the precedence checklist and advocate actions. With the Viking answer, service corporations can supply dependable distant monitoring providers with much less false alarms and with out in-house AI groups. Vikings’ distinctive method of augmenting human consultants to turning into “super-experts” is steadily gaining market acceptance as confirmed with greater than 20 prospects globally.

“Viking Analytics satisfied us of their method to machine well being monitoring.”, says Roel Callebaut, Funding Supervisor at Finindus. “By quite a few conversations with trade consultants we understood they’re fixing the problems that prevented earlier predictive upkeep options for use for non-critical property.”

Karolina Bjurehed, Funding Director at Industrifonden states. “We’re impressed by what the group has completed up to now and are joyful to assist this technological growth and innovation within the trade. Not solely does it allow extra environment friendly management of the product line, nevertheless it’s additionally extra sustainable.
Chao Wu, Principal at ABB Know-how Ventures expresses, “With the stress on to make sure uptime and lengthen the lifecycle {of electrical} property, the partnership permits us to develop analytics that can assist prospects preserve their operations and reduce prices. Prospects will get the insights they should make knowledgeable selections about their electrical tools fleet and take preventative actions to keep away from pricey failure. We stay up for persevering with our shut collaboration with Viking Analytics to additional develop and scale new AI software program options sooner or later.”

About Viking Analytics
Beginning operations in 2018, Viking Analytics is on a mission to allow each industrial service corporations like upkeep corporations, OEMs, and system integrators to observe extra machines reliably. Vikings’ proprietary answer prioritizes the machines that want consideration, whereas offering related explanations for the prioritization. Moreover, consultants can present suggestions primarily based on the precedence checklist and advocate actions, which is learnt by the answer. With the Viking answer, service corporations can supply dependable distant monitoring providers with much less false alarms and with out in-house AI groups. Join with us: https://vikinganalytics.se, [email protected]

About Finindus
Finindus is a Belgium-based enterprise capital funding firm funded by ArcelorMittal and the Flemish Area and is linked to OCAS, a world-class metallic analysis centre. Finindus offers early stage and progress financing to modern corporations providing good and inexperienced industrial applied sciences within the subject of supplies, sustainable manufacturing and trade 4.0.

Finindus groups up with excellent entrepreneurial groups and like-minded traders to convey sustainable industrial improvements to full business maturity. Finindus invests throughout Europe, with Flanders as a house base and candy spot. As well as, Finindus invests globally in know-how corporations on the very core of its experience and aligned with the strategic pursuits of its shareholders, and throughout the globe for funding alternatives in applied sciences on the middle of their core domains and according to the strategic pursuits and areas of experience of their shareholders.

About Industrifonden
Industrifonden is Sweden’s Enterprise Capital Fund on the lookout for distinctive, scalable innovation that has a significant impression on our society. Industrifonden manages greater than SEK 5 billion and put money into early-stage corporations, from seed to A-round funding with a attain throughout the Nordics. The funding focus contains specialised applied sciences and companies inside Deep Tech, Life Science and Transformative Tech. Industrifonden has an evergreen construction which permits a long-term concentrate on worth creation. Be taught extra at industrifonden.com

About ABB
ABB is a know-how chief in electrification and automation, enabling a extra sustainable and resource-efficient future. The corporate’s options join engineering know-how and software program to optimize how issues are manufactured, moved, powered and operated. Constructing on greater than 130 years of excellence, ABB’s ~105,000 workers are dedicated to driving improvements that speed up industrial transformation. www.abb.com

CONTACT:

Media Contact: Nidhi Shetty – Digital Advertising Coordinator at Viking Analytics
Mail: [email protected]

The next information can be found for obtain:

View authentic content material:https://www.prnewswire.com/news-releases/viking-analytics-raises-series-a-of-more-than–3mn-for-global-expansion-301731542.html

SOURCE Viking Analytics AB