Swedish machine fitness tracker IPercept raises $16.5M

What happened

Swedish machine fitness tracker IPercept has raised $16.5m in a Series A (an early stage of company funding) funding round, it said today. The funding round was co-led by Isogon Ventures, the early-stage VC, and London-headquartered VC 2150.

Existing investors Luminar Ventures, RunwayFBU, J12 Venture and AI.Fund participated in the round. The startup's focus is on predictive maintenance for CNC machines.

Stockholm-based IPercept’s AI assistant provides insights into machine wear, faults and degradation. IPercept’s technology reads a machine’s own motion and a single IPercept device mounted on the moving part of a CNC machine converts micrometre-scale motion into data, with no connection to the machine controller or the customer’s IT network.

Key facts

• Stockholm-based IPercept’s AI assistant — provides: insights into machine wear, faults and degradation