Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, January 10 2023 - 09:00
Nanoprecise Sci Corp Raises USD $10 Million in Series B Investment
EDMONTON, AB, Jan. 10, 2023 /PRNewswire-AsiaNet/ --

    Nanoprecise Sci Corp, an AI-based Condition Monitoring & Prescriptive 
Maintenance Solution provider raised USD $10 million in series B investment 
from 4 new investors. The round was led by Export Development Canada (EDC), 
with participation from Honeywell Ventures, NSK Ltd., and EC Mergers & 

    Founded in 2017 by CEO Sunil Vedula, the core team of Nanoprecise comprises 
industry specialists such as Graham Kawulka (Chief Commercial Officer), 
Prashant Verma (Head of India Operations), and Dries Van Loon (VP of Customer 
Success & Condition Monitoring). Nanoprecise drives value realization for 
manufacturers & operators in a broad set of industries by providing them with 
meaningful insights through a differentiated approach to machine health 
monitoring. Nanoprecise utilizes ultra-low-power wireless sensors and 
cloud-based AI-powered software that detects the smallest of changes in machine 
performance and predicts the remaining useful life of any industrial asset.

    The automated end-to-end solutions from Nanoprecise strive to simplify 
monitoring industrial assets involved in various complex manufacturing 
processes, with patented signal processing algorithms and state-of-the-art 
scalable hardware, to help operators maximize their uptime and improve their 
energy efficiency.

    The investment from EDC — Canada's export credit agency wholly owned by the 
Government of Canada, aims to boost the Canadian cleantech company's delivery 
capabilities and product offerings in the Energy Efficiency & Condition 
Monitoring Solutions space. The investment is aligned to the institution's 
strong focus in scaling emerging Canadian cleantech companies that are 
commercially well-positioned to enhance Canada's international competitiveness 
in key priority areas.

    "Edmonton-based Nanoprecise Sci Corp's innovative AI-based equipment 
sensors reduce energy consumption and downtime across many industrial 
processes," says Carl Burlock, Executive Vice President and Chief Business 
Officer at EDC. "EDC is pleased to have led Nanoprecise's Series-B investment 
round alongside leading industry participants, a fundraising which will 
accelerate the international deployment of their unique solutions."

    Moreover, Honeywell Ventures has joined as a board observer, with its 
strategic investment in the AI-based predictive maintenance solutions provider. 
This investment from one of the leading players in the industrial technology 
sector is a testament to the premium differentiation that Nanoprecise solution 
offers as compared to umpteen others existing in the market. With Honeywell's 
investment, massive growth opportunities lay ahead for Nanoprecise Sci Corp. 
NSK Ltd. – one of the top 3 bearing manufacturing companies in the world, and 
EC Mergers & Acquisitions - the leading global investment banking boutique that 
specializes in the industrial technology sector, have also chosen to back 
Nanoprecise through this investment round, for Nanoprecise's high growth 
potential and wide applicability of its solutions.

    "We are excited to have closed our Series B investment round and are 
thrilled to welcome our new investors who bring in a deep set of industry 
expertise and networks to Nanoprecise's board. We believe their enterprise 
growth guidance will complement the depth of skills and experience represented 
on our board and leadership team, as we continue to scale and maintain our 
leadership in remote condition monitoring and energy efficiency monitoring 
sector," said Mr. Sunil Vedula, Founder & CEO at Nanoprecise Sci Corp.

    About Nanoprecise Sci Corp

    Nanoprecise Sci Corp [ ] is an automated AI-based 
predictive maintenance solution provider that specializes in the implementation 
of Artificial Intelligence and IIoT technology for predictive asset maintenance 
and reducing the carbon footprint of manufacturing plants. Nanoprecise is 
defining the industry's service standard for the monitoring & analytics of all 
types of industrial machines, through their leading energy efficiency & health 
analytics platform for industrial assets. Nanoprecise is headquartered in 
Edmonton, Canada, and works with companies across various sectors to help drive 
their Industry 4.0 journey.

    Get in touch at 

    Suraj Pisharody,

    About EDC

    Export Development Canada (EDC) is a financial Crown corporation dedicated 
to helping Canadian businesses make an impact at home and abroad. EDC has the 
financial products and knowledge Canadian companies need to confidently enter 
new markets, reduce financial risk and grow their business as they go from 
local to global. Together, EDC and Canadian companies are building a more 
prosperous, stronger, and sustainable economy for all Canadians.

    For more information and to learn how we can help your company, call us at 
1-800-229-0575 or visit


    Source: Nanoprecise Sci Corp