Movus, a Brisbane, Australia-based developer of Industrial IoT (Internet of Things) sensor and machine monitoring solution, secured $4.8M in Series A funding.
The round was led by Blackbird Ventures, with participation from Telstra Ventures and Skip Capital (Atlassian co-founder Scott Farquhar’s private investment fund).
The company intends to use the funds to scale up to international markets, further refine its product, expand its Research & Development Lab, and grow its team.
Led by Brad Parsons, CEO and Founder, Movus has developed and launched an Industrial Internet of Things (IIoT) sensor and software-as-a-service (SaaS) monitoring platform, FitMachine. The platform uses Artificial Intelligence (AI) to allow organizations to proactively monitor, manage, and maintain the condition of their industrial machinery reducing the need for manual inspections and turning unplanned outages into planned situations.
The company serves the transportation, oil & gas, mining, energy, manufacturing, water and utilities, agriculture, building & facilities management sectors and has already secured domestic and international clients including Wesfarmers Chemicals, Melbourne Water, University of Queensland, Unitywater, and Bombardier Transportation among others.