A AssetWatch, American startup that offers AI-based predictive maintenance solutions, received an investment of R$10,5 million made byOxygea. The amount is part of the Series B round of the startup, that received a total of US$ 40 million.
A powerful tool for proactive maintenance and downtime prevention, AssetWatch offers complete condition monitoring solutions for industrial rotating equipment. A startup uses sensors and cloud-based software with AI support to detect and solve problems in machines such as engines, gearboxes, bombs, fans and compressors. The company's business is to provide exceptional service and prescriptive insights that help manufacturers transform their maintenance programs
"The Series B investment is proof of the significant potential of predictive maintenance and our vision at AssetWatch", said Brian Graham, CEO of AssetWatch. "With the support of our amazing investors", we are ready to further accelerate our mission to transform the maintenance and reliability landscape across all sectors worldwide.
"We are very excited to be able to support the exceptional team at AssetWatch in their mission to bring gains in efficiency and productivity to global manufacturers through the simplification of the predictive maintenance process". We believe that AssetWatch is extremely complementary to Oxygea's investment portfolio focused on Sustainability and Digital Transformation in the Industry, and we are convinced that we will be able to contribute to the success of the startup by opening doors for our entire ecosystem as well as supporting future internationalization efforts for Latin America, comment Vitor Moreira, Managing Director of Oxygea
"The partnership with Oxygea to close our Series B investment round is a strategic combination for AssetWatch". Oxygea's commitment to digital transformation and sustainability complements our mission to revolutionize predictive maintenance. Your investment not only validates our innovative approach, but also drives our quest to eliminate unplanned downtimes and optimize operations for global industries. We are excited to leverage Oxygea's experience and network. Together we want to redefine the future of industrial operations.” –Will Zell, Co-Founder and Chairman of the Board of AssetWatch
Oxygea boosting investments
The practice of investments has been accelerating the pace of its contributions, being this the fifthdealfrom Oxygea in 2024. With the investment thesis focused on startups and technologies that partner with industries, presenting sustainable technologies for your growth. The opportunity arose through the partnership between Oxygea and TouchDown Ventures, focused on international investments.
"The expertise of AssetWatch has great potential to improve the operational efficiency of various players in the industrial sector", including their respective chains. The application of this predictive technology, without a doubt, reduces downtime and improves the allocation of resources dedicated to maintenance. This strategic move by Oxygea will help us find more and more partners for potential connections, aiming at the development of the entire ecosystem, comment Artur Faria, CEO of Oxygea.
The round
Led by Wellington Management, global player in asset management, the Series B aims to accelerate the continuous innovation of AssetWatch, allowing the company to continue providing the best service and added value to its customers. Furthermore, will support the expansion of the business, ensuring the sustained provision of excellent customer service and comprehensive and straightforward subscription services
Besides Oxygea, the Series A investors, including G2 Venture Partners, Triangle Peak Partners, Standard Investments, Osage University Partners and JobsOhio Growth Capital Fund, participated in series B
