The money jut keeps on pouring in to Startup Nation.
Augury, an Israeli AI-based Machine Health solution provider, has secured $55 million in funding. The company will use the money to sustain and accelerate Augury’s growth.
That’s $55 million — Go Startup Nation!
This Series D round was led by Qumra Capital, a leading late-stage venture capital firm based out of Israel. It includes participation from existing key investors, including Insight Venture Partners, Eclipse Ventures, Munich Re Venture Capital, Qualcomm Ventures and Lerer Hippeau Ventures. With this round Augury has raised $106 million since its initial funding six years ago.
The company also announced new partnerships and capabilities to help its global customers gain the benefit of prescriptive diagnostics and machine insights, no matter where in the world they operate.
“We’ve seen significant and accelerating growth in our business, both before and during the global health crisis,” said Saar Yoskovitz, co-founder and CEO of Augury.
“We also continue to build a powerful ecosystem for Machine Health to deliver new forms of value for customers. Our partner and alliance network includes OEMs and services providers such as Grundfos, Carrier and Trane, insurance partner Munich Re, and innovative new partners such as DSV, which will leverage its global logistics network to enable replacement parts as a service, informed by Augury’s insights into potential machine failures.”
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From every human and every machine, we here at Augury would like to say ‘thank you’ and let you know that we’re here to keep your machines running during this new normal. https://t.co/UGbI3NrLht #ThankYou #MachineHealth #COVID19 pic.twitter.com/ek0Ki6p2mr
— Augury (@augurysys) March 24, 2020
Augury says that it is building a world where people can always rely on the machines that matter. Augury supports its customers by enabling Digital Transformation through superior insights into the health and performance of the machines they use to make products, deliver services and improve lives.
Meanwhile fellow Israeli startup MOV.AI brought in a little less money. The company closed a $4 million financing round to give it a total of $8 million. The fundraising was led by SOMV and existing investors NFX, and Viola Ventures.
The new funding will enable MOV.AI to accelerate product development and allow the company to better support its customers by establishing a customer support group. Pinchas Buharis, managing partner at SOMV, will join the board of MOV.AI.
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https://t.co/Cgoq99Qkm5 NEW FUNDING ROUND
We are pleased to announce that we recently closed a new financing round. The fundraising was led by SOMV and existing investors NFX, and Viola Ventures.
Read the full article here: https://t.co/OThhPZ8AwH pic.twitter.com/O8gxPczJxJ
— MOV.AI (@MovAIRobots) October 13, 2020
Motti Kushnir, CEO of MOV.AI, said, “The new funding round recognizes MOV.AI’s vision for the collaborative robot industry. MOV.AI will continue to fortify its position as a leading company in the field of cobots. We are very excited to win our existing investors’ trust and for our new connection to SOMV that will allow us to develop our industrial automation market solution further. The COVID-19 pandemic has accelerated growth in e-commerce, while reducing workforce availability.”
“This development has led to a massive increase in the demand for automation systems and collaborative robots, which can integrate into existing facilities and work collaboratively with humans.”
Mov.AI lets autonomous robots work safely together with people and other robots in any environment at any scale.
MOV.AI is an operating system and development framework for modern robotic automation.
Read more about: Augury, Business/Finance, CEO, high tech, Israel, Israel Startup Nation, Israeli, Mov.AI, Series D, startup nation, Technology/Internet
