Nanoprecise Closes $38M Series C Round to Advance Predictive Maintenance
Deal News | Mar 27, 2025 | PR Newswire Cision Nanoprecise Sci Corp
Nanoprecise Sci Corp, an Edmonton-based AI-powered predictive maintenance company, has successfully raised $38 million in a Series C funding round. The round was significantly oversubscribed, indicating strong investor confidence. It was led by Yaletown Partners, with co-lead participation from BDC’s Industrial Innovation Venture Fund. Other participants included Export Development Canada, BMO Capital Partners, and CIBC Innovation Banking providing a credit facility. The company is renowned for its Energy-Centered Maintenance (ECM) approach which integrates IoT technology and AI to minimize industrial maintenance disruptions. This funding will allow Nanoprecise to expand its global market and enhance its AI-driven solutions to provide more than just predictive alerts but actionable insights for industrial maintenance, which traditionally has been reactive. With recent expansions in its leadership team, the company aims to solidify its position as a frontrunner in maintenance technology, appealing to industries moving through digital transformation. This move is intended to increase operational reliability and efficiency, situating Nanoprecise as particularly competitive given its varied market reach and innovative use of data models.
Sectors
- Technology
- Industrial Maintenance
- Venture Capital
Geography
- Canada – The article concerns Canadian companies, with Nanoprecise headquartered in Edmonton, AB, and Yaletown Partners and BDC as major Canadian investment firms.
- United States – Yaletown Partners has a presence in San Francisco, which may contribute to cross-border commercial activities.
Industry
- Technology – Nanoprecise operates in the technology sector, utilizing AI, IoT, and machine learning to provide advanced predictive maintenance solutions.
- Industrial Maintenance – The company provides solutions for predictive industrial maintenance, aiming to improve operational reliability and efficiency.
- Venture Capital – The article discusses the participation of various venture capital and financial institutions in the Series C funding round for Nanoprecise.
Financials
- 38 million USD – The amount raised by Nanoprecise Sci Corp in their Series C funding round, comprising both equity and debt.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nanoprecise Sci Corp | Target | Company | An AI-powered predictive maintenance solutions provider based in Edmonton, focused on helping industries enhance their maintenance efficiency. |
| Yaletown Partners | Lead Investor | Company | A Canadian venture capital fund manager investing in technology-driven companies promoting climate resilience. |
| BDC's Industrial Innovation Venture Fund | Co-Lead Investor | Company | A segment of the Business Development Bank of Canada, focusing on innovative technology firms. |
| Export Development Canada | Investor | Government | Aids Canadian companies in their international expansion by providing financial solutions. |
| BMO Capital Partners | Investor | Company | Investment arm of Bank of Montreal, focusing on mid-market and growth capital investments. |
| CIBC Innovation Banking | Credit Facility Provider | Company | Provides innovative financial solutions to growth companies in North America. |
| Hans Knapp | Partner and Co-founder | Person | A partner at Yaletown Partners, instrumental in guiding investments to support Nanoprecise's growth. |
| Erin Sheets | Partner | Person | Partner at BDC's Industrial Innovation Venture Fund, supporting Nanoprecise's mission. |
| Sunil Vedula | CEO | Person | Chief Executive Officer of Nanoprecise Sci Corp, leading the company in its expansion efforts. |
| Param Desai | Chief Product Officer | Person | Recently joined Nanoprecise to drive AI-powered product innovation. |
| Kevin Clark | Chief Evangelist | Person | Joined Nanoprecise to help industries adopt the ECM approach. |