Samotics €14.5M in Series A Funding


Samotics, a Leiden, Netherlands-based provider of real-time actionable insights to eliminate industrial energy waste and unplanned downtime, closed €14.5m Series A funding. 

The round was led by 83North.

The company intends to use the funds to expand its customer base in existing and new markets, drive the development of its technology platform capabilities across both energy and condition monitoring, and grow the team by acquiring top technology and business talent.

Led by Jasper Hoogeweegen, CEO, Samotics provides a Software-as-a-Service (SaaS) platform that uses AI to analyze the current and voltage signals of electric-driven motor systems – known as electrical signature analysis (ESA) – to prevent asset failure, optimize performance and improve energy efficiency. This offers benefits in harsh industrial environments (e.g. submerged pumps, hot strip mills) and is already being implemented at scale across the wastewater and water, steel, and chemical sectors. 

The company has grown over the past 12 months, increasing its revenue by 150% and adding 30 new customers to its roster across Europe and the US. Its customer base includes sector-leading players such as Anglian Water, ArcelorMittal, Nobian, Schneider Electric and TotalEnergies. Samotics has also signed several strategic partnerships, including Schneider Electric.