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Niricson Secures $10 Million to Revolutionize Predictive Maintenance for Critical Infrastructure

August 3, 2023 by Robert Lewis Leave a Comment

Victoria’s Niricson has raised a $10 million Series A funding round led by MUUS Climate partners.

Founded in 2020, Niricson works with asset owners and managers such as utilities, federal governments, state governments, and engineering consulting companies to help them inspect, manage, and predict the performance of their assets through time.

Through Niricson’s technology, clients can improve decision-making processes, optimize maintenance programs, and reduce costs. Targeting high-value infrastructure assets ensures continuous safe operation with maximum efficiency.

The new funding will be used to expand Niricson’s global footprint by using robotics, computer vision and acoustic technology, combined with AI to make predictive maintenance of large-scale civil assets like dams, bridges, and tunnels around the world safer, faster, and more efficient.

Niricson also plans to accelerate their R&D efforts focused on developing the world’s first AI-driven predictive analytics SaaS platform dedicated exclusively to managing critical infrastructure assets, ensuring asset safety and optimal performance.

“We are now serving more than 20 large customers owning dams, bridges, runways, and other critical assets globally. Over the last several years, we have learned a lot and built our products to address the real problem faced everyday by our customers,” said Harsh Rathod, PhD, CEO & Co-Founder, Niricson.

“With our series A raise complete, we now stand ready to drive even greater value for stakeholders while accelerating responsible growth throughout the globe. As a team, we’re thrilled by this vote of confidence in our mission and remain resolute in empowering society to tackle its grand challenges head-on. Looking ahead, we embrace the exciting journey that lies before us.”

The investment round also included Bentley Systems, Sustainable Development Technology Canada, Export Development Canada, Techstars, and other investors.

Filed Under: News Tagged With: Niricson

 

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