Senseye Limited, a London, UK-based provider of predictive maintenance software, raised £3.5m in Series A funding.
The round was led by MMC Ventures, with participation from existing investors Breed Reply, IQ Capital and Momenta Partners.
The company will use the capital to expand adoption of its product and its research and development teams.
Led by CEO Dr Simon Kampa, Senseye provides an automated condition monitoring diagnostics and prognostics product, a cloud-based software solution that enables industrial companies to predict the failure of machines months in advance. The solution allows manufacturers to reduce maintenance costs by automatically identifying machine failure through machine learning algorithms fed with data from the Industrial IoT.