Guidewheel, a San Francisco, CA-based AI-powered FactoryOps company, has raised an oversubscribed $31 million Series B funding round.
Investors
The round was led by Decarbonization Partners, a joint venture between BlackRock and Temasek, with participation from Ecolab, Rethink Impact, GSBackers, and existing investors Greycroft and Breakthrough Energy Ventures (BEV).
Decarbonization Partners focuses on late-stage venture capital and early growth investments in companies developing technologies to achieve a net-zero global economy by 2050. Leveraging their combined expertise, they invest in proven technologies needing capital to scale. The partnership has secured $1.40 billion from over 30 institutional investors worldwide.
Guidewheel Use of Funds
The company will use the funding to accelerate product development, expand its AI team, and enhance customer support.
About Guidewheel
Guidewheel is a global software company on a mission to empower factories worldwide to achieve sustainable peak performance. Its AI-powered FactoryOps platform makes cloud technology accessible to any factory. By clipping onto any machine, Guidewheel turns its real-time “heartbeat” into a connected, active learning system that helps teams reduce lost production time, increase efficiency, and continually improve performance. Their technology uses non-invasive sensors to monitor and analyze machine performance on the factory floor.
Funding Details
Company: Guidewheel
Raised: $31.0M
Round: Series B
Funding Date: August 2024
Lead Investors: Decarbonization Partners
Additional Investors: Ecolab, Rethink Impact, GSBackers, Greycroft, Breakthrough Energy Ventures
Company Website: https://guidewheel.com/
Software Category: AI Factory Operations
Source: https://www.businesswire.com/news/home/20240813639025/en