Veros Systems Incorporated, a College Station, Texas-based developer of an industrial monitoring solution, raised $5m in capital.
Backers included Austin Ventures and LiveOak Venture Partners. In conjunction with the funding, Venu Shamapant, General Partner at LiveOak Venture Partners, will be joining Veros’ Board of Directors.
Co-founded by Chairman Tommy Knight and CTO Dr. Alex Parlos and led by newly appointed President and CEO Jim Dechman, Veros provides an industrial monitoring solution that combines predictive analytics with big data management to continually monitor electric motors and driven assets to detect developing mechanical and electrical faults.
The company has exclusive, worldwide rights to technology developed at Texas A&M University.
FinSMEs
17/07/2013