Augury, a NYC-based Industrial Internet of Things (IIoT) technology company, closed a $17m Series B funding.
The round was co-led by Eclipse Ventures and Munich Re / HSB Ventures, the venture arm of Hartford Steam Boiler (HSB) and Munich Re with participation from Sound Ventures, First Round Capital, Lerer Hippeau Ventures and Pritzker Group Venture Capital.
The company will use the funding to strengthen Original Equipment Manufacturer (OEM) relationships, develop strategic partnerships and further establish grow in the mechanical diagnostics industry.
Led by Saar Yoskovitz, CEO, Augury provides a real-time, intelligent Predictive Maintenance (PdM) solution that combines artificial intelligence and the Industrial Internet of Things to provide machines with a mechanical nervous system and the awareness to optimize their own health, thereby accelerating human productivity and safety.
Existing OEM relationships include Grundfos, Armstrong and PSG Dover. Additional customers include Johnson Controls, Trane, Carrier, Mueller, Aramark and AECOM.