USA – Viking Analytics AB, a Gothenburg, Sweden based company developing AI-based machine health monitoring technology, closed its Series A round raising over €3m.
The round was co-led by Finindus (backed by ArcelorMittal), and Industrifonden with ABB and existing investors also participating.This round will allow the company to to accelerate its technological development and scale the commercialization of its solutions. Led by Dr. Rajet Krishnan, co-founder and CEO, Viking Analytics is on a mission to enable every industrial service companies like maintenance companies, OEMs, and system integrators to monitor more machines reliably. Its proprietary solution prioritizes the machines that need attention, while providing relevant explanations for the prioritization. Furthermore, experts can provide feedback based on the priority list and recommend actions, which is learnt by the solution. The company also disclosed it has secured a commercial agreement with ABB for monitoring of their customers’ switchgear products. Viking Analytics has also secured a commercial agreement with ABB to bring its machine health monitoring solution to ABB’s switchgear products. 26/01/2023
