The leading predictive maintenance and reliability platform will use these funds to continue strengthening its solutions offering and expanding its global customer base
EDMONTON, AB, May 5, 2021 /PRNewswire/ -- Nanoprecise, a leading predictive maintenance platform, today announced an investment led by Sensata Technologies, a leading industrial technology company and provider of sensor-rich solutions that create insight for customers. This funding will allow Nanoprecise to continue its rapid pace of growth with the support of Sensata, a global business focused on sensing and data insight.
Founded in 2015 in Edmonton, AB, Canada, Nanoprecise has built a rapidly growing global position in the fast-growing IoT industry. Nanoprecise has created a unique 6in1 IoT sensor named the MachineDoctor™ and this IoT sensor is integrated with advanced analytics software that is driven by ML/AI algorithms providing truly automated predictive and prescriptive maintenance.
Nanoprecise's RotationLF™ analytics software diagnoses machinery in industrial environments, including motors, gearboxes, turbines, and centrifugal compressors, among others. It records the real-time RPM, sound, vibration, temperature, humidity, and other key parameters of the machine to detect anomalies in near real time to predict the remaining useful life (RUL) of the component empowering plant operators or end-users to manage decisions that may cause major damage or unplanned downtime. Nanoprecise has made this technology available in the market in numerous commercial models that allow different organizations to maximize return on investment.
Sensata's investment in Nanoprecise is guided by its strategic growth initiative to expand its Industrial Internet of Things and Machine Health Monitoring (MHM) offerings. "We see tremendous opportunity to partner with Nanoprecise, a leader in the development of advanced hardware and software to monitor and predict the remaining useful life of our customer's rotary equipment," said Naoto Mizuta, Vice President, General Manager, Sensata Industrial. "We are excited to partner with Nanoprecise to advance its solution and meet our strategic objectives around data insights in the MHM space."
Nanoprecise is headquartered in Edmonton, Alberta and was founded by Sunil Vedula. Nanoprecise has offices in Canada, USA, United Kingdom, and India. Nanoprecise was founded with a strong, simple yet lofty vision of creating end to end integrated systems & models that are able to predict the remaining useful life of any asset in any industry at any point during its lifetime with up to 99% accuracy. We strive to bring cutting edge diagnostic and prognostic solutions to equipment and structural failures of various assets.
Sensata Technologies is a leading industrial technology company that develops sensors, sensor-based solutions, including controllers and software, and other mission-critical products to create valuable business insights for customers and end users. For more than 100 years, Sensata has provided a wide range of customized, sensor-rich solutions that address complex engineering requirements to help customers solve difficult challenges in the automotive, heavy vehicle & off-road, industrial and aerospace industries. With more than 19,000 employees and operations in 13 countries, Sensata's solutions help to make products safer, cleaner and more efficient, more electrified, and more connected. For more information, please visit Sensata's website at www.sensata.com.