Swedish machine fitness tracker IPercept has raised $16.5m in a Series A 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.
Manufacturers can see which components are wearing, how quickly, and exactly what to do before production stops.
It will use the funding to launch in the US, making its first local hires, and improve its tech, which is currently being used by Airbus, Bosch and Volvo.
IPercept started commercialisation in 2022 after spinning out of the KTH Royal Institute of Technology, Sweden’s largest technical university.
IPercept founder and CEO Karoly Szipka: “CNC machine tools make every other machine on Earth, and until now almost nobody could see inside them while they run.
“The question we set out to answer was how to make the most important machine in the physical world legible to software and AI.
“That took a new measurement principle, five years of research, and four years of real-world data. We are ready to bring it to every factory that needs it.”
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