Nanoprecise, an Edmonton, Canada-based AI-powered predictive maintenance company, has secured $38 million in Series C funding.
Investors
The round was led by Yaletown Partners and co-led by BDC’s Industrial Innovation Venture Fund, with participation from Export Development Canada (EDC), BMO Capital Partners, and a credit facility from CIBC Innovation Banking.
Yaletown Partners is a Canadian venture capital fund manager that invests in technologies digitally transforming traditional industries while prioritizing climate-resilient growth. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Edmonton, Toronto, Montréal, and San Francisco.
Nanoprecise Use of Funds
The company will use the funding to expand its market presence, accelerate strategic initiatives, and enhance AI-driven diagnostics.
About Nanoprecise
Nanoprecise specializes in AI-based predictive maintenance solutions for industrial machinery. The company combines IoT sensor technology with artificial intelligence and machine learning to improve the efficiency of machines and contribute to sustainability. Nanoprecise offerings include real-time condition monitoring and actionable insights to prevent unplanned downtime and reduce maintenance costs. Founded in 2017 and headquartered in Edmonton, Alberta, its solutions cater to various industries, including metals, mining, cement, oil and gas, and pharmaceuticals.
Funding Details
Company: Nanoprecise Sci Corp
Raised: $38.0M
Round: Series C
Funding Date: March 2025
Lead Investor: Yaletown Partners
Additional Investors: BDC’s Industrial Innovation Venture Fund, Export Development Canada, BMO Capital Partners, CIBC Innovation Banking
Company Website: https://nanoprecise.io/
Software Category: Predictive Maintenance / Industrial AI
Source: https://www.prnewswire.com/news-releases/nanoprecise-closes-us38m-series-c-302413159.html