Augury has successfully raised $72.5 million in funding to enhance its AI-based hardware technology that monitors critical machine parameters like vibrations and temperature to predict maintenance needs. The company boasts an extensive dataset of over half a billion hours of machine operations, which CEO Saar Yoskovitz refers to as the 'malfunction dictionary.' This funding round is the initial part of a Series F financing with anticipated total proceeds of around $100 million, aimed at accelerating customer acquisition and technology development, highlighting a strong growth in revenue and market demand.
"We have by far the largest data set of mechanical signals," CEO and founder Saar Yoskovitz said in an interview. He calls this trove of information 'the malfunction dictionary.'
"We're at the point, that, if you have a pump in your factory, we don't need to build a model for your specific machine, because we've seen over 20,000 pumps before."
This equity investment is the first tranche of a Series F that the company has yet to fully close. Yoskovitz said the final amount is likely to be around $100 million."
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