With the new funding, Tractian plans to continue its strong focus on R&D, expand into different verticals, and refine its AI models. The company currently has nearly 200 R&D engineers and has deployed 3000 models that can detect different types of failures. The firm also manufactures its own sensors and hardware to ensure high uptime and reliability in harsh industrial environments.
Key takeaways:
- Tractian, an industrial asset monitoring company, has raised $45 million in a Series B funding round led by General Catalyst and Next47.
- The company uses AI to predict mechanical failures in industrial machines, with its technology currently impacting around 5% of global industrial GDP.
- With the new funding, Tractian plans to expand its AI capabilities, grow its research and development team, and enter new industrial verticals.
- Tractian's AI models are tailored specifically for different machine types and industrial verticals, with the company stating that industry-specific AI is key to achieving high accuracy in failure prediction.