Industrial software startup Aperio Systems secures $8.5 million funding to scale operations

Industrial software startup Aperio Systems secures $8.5 million funding to scale operations

Published: 12-11-2020 14:35:59 | By: Bob Koigi | hits: 1450 | Tags:

Industrial IoT Data Integrity Market startup Aperio Systems has announced the close of an $8.5 million Series A funding round led by National Grid Partners, the venture investment and innovation arm of National Grid plc., one of the largest investor-owned energy companies in the world.

Aperio will use the investment to scale its industry-first Industrial Internet of Things (IIoT) data integrity solution, which enables organizations to reduce operational expenses, make better-informed strategic business decisions, and turn validated industrial data into a competitive asset.

Lisa Lambert, Founder and President, National Grid Partners: “We’re pleased to welcome Aperio as the newest member of National Grid Partners’ growing portfolio of innovative companies that are solving problems created by an explosion of data in connected industrial environments. Aperio’s unique technological approach to improving the quality of industrial data makes them a highly attractive target for investment. We look forward to future innovation and growth from Aperio as they continue to revolutionize this field.”

Andre Turenne, Director at National Grid Partners, will join Aperio’s Board of Directors. The Series A round includes several additional strategic investors, including EDP Ventures, the venture investment arm of global energy company EDP Group. Additional investors include Data Point Capital, Jump Capital, Scopus Ventures, and Soundproof Ventures.

Organizations in such sectors as mining, power generation, oil & gas, manufacturing, and chemical processing depend on access to reliable data for operational efficiency, safety, and strategic planning.

As more of these companies advance their digital transformation initiatives through IIoT technologies, reliable data becomes a competitive advantage. However, industrial data must be analyzed and validated before it is actionable. Unreliable industrial data leads to system downtimes, equipment failure, loss of productivity, and even safety risks.

Aperio’s data integrity solution, built on Machine Learning and Artificial Intelligence, enables organizations to easily validate data in real time to ensure that operational and strategic decisions are rooted in accuracy.

Jonas Hellgren, CEO, Aperio Systems: “Data integrity has become the number-one inhibitor to maximizing ROI in digital solutions for industrial organizations, with over 50 percent of today’s data science budgets dedicated to cleaning up data quality. Aperio’s innovative technology solves this problem for customers all over the world. With this investment from world-class strategic and financial investors, we now have the ability to scale our solution and provide comprehensive, long-term support for global industrial leaders.”