Nanoprecise Secures $38 Million Series C Funding for AI-Driven Maintenance Advancements
Deal News | Mar 27, 2025 | PR Newswire Cision Nanoprecise Sci Corp
Nanoprecise Sci Corp, an Edmonton-based innovator in predictive industrial maintenance, has concluded a $38 million Series C funding round to enhance its AI-driven maintenance solutions. Led by Yaletown Partners and BDC's Industrial Innovation Venture Fund, the round also saw participation from Export Development Canada, BMO Capital Partners, and CIBC Innovation Banking's credit facility. The funding will accelerate Nanoprecise's market expansion and strategic initiatives, focusing on energy-centered maintenance (ECM) to minimize machine downtime and enhance energy efficiency. The company's cutting-edge diagnostics boast high precision, reducing false alarms to less than 1%, and offer actionable insights to improve industrial efficiency and sustainability. This investment aligns with the digital transformation of industries, supporting the vigorous growth of Canadian tech leaders. New leadership roles were introduced, with Param Desai as Chief Product Officer and Kevin Clark as Chief Evangelist, to drive product innovation and market adoption of ECM. Nanoprecise continues to revolutionize maintenance practices with advanced machine learning and IoT sensor integration.
Sectors
- Technology
- Industrial Maintenance
- Venture Capital
Geography
- Canada – Nanoprecise Sci Corp is based in Edmonton, Alberta, and the funding round involves Canadian investors such as BDC and Export Development Canada.
- United States – Yaletown Partners has offices in San Francisco, highlighting cross-border investment activities.
Industry
- Technology – The use of AI, IoT, and machine learning in predictive maintenance places Nanoprecise in the technology industry.
- Industrial Maintenance – Nanoprecise specializes in predictive maintenance solutions for industrial applications, targeting equipment efficiency and reliability.
- Venture Capital – The Series C funding round involves significant participation from venture capital firms like Yaletown Partners and BDC.
Financials
- $38 million – Total Series C funding received by Nanoprecise.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nanoprecise Sci Corp | Target Company | Company | A Canadian company focusing on AI-driven predictive maintenance solutions. |
| Yaletown Partners | Lead Investor | Company | A Canadian venture capital firm leading the Series C funding round. |
| BDC Industrial Innovation Venture Fund | Co-lead Investor | Company | A venture fund focused on supporting innovative industrial technology solutions in Canada. |
| Export Development Canada | Investor | Government | A Canadian government agency providing funding solutions to support Canadian exporters. |
| BMO Capital Partners | Investor | Company | An investment firm providing growth capital to mid-market companies. |
| CIBC Innovation Banking | Credit Facility Provider | Company | Provides strategic financial solutions to innovative companies in North America. |
| Hans Knapp | Partner and Co-founder | Person | A partner at Yaletown Partners, instrumental in the investment in Nanoprecise. |
| Erin Sheets | Associate | Person | An associate at BDC Industrial Innovation Venture Fund involved in the investment strategy. |
| Sunil Vedula | CEO | Person | CEO of Nanoprecise Sci Corp, overseeing the company's strategic direction and growth. |
| Param Desai | Chief Product Officer | Person | Responsible for product innovation and development at Nanoprecise. |
| Kevin Clark | Chief Evangelist | Person | Focuses on promoting the ECM approach within the industry. |