#Canada #Edmonton #Nanoprecise Sci #AI Maintenance #Yaletown Partners

Nanoprecise Secures $38 Million in Series C Funding

In a significant move towards enhancing industrial maintenance, Nanoprecise Sci Corp has completed a Series C funding round, raising $38 million. This funding aims to break the reactive cycle that has dominated the industrial maintenance landscape for too long. Following an impressive three-digit growth in 2024, the company is set to expand its Energy-Centered Maintenance (ECM) approach, coupled with advanced AI-driven diagnostics that provide not only alerts but also actionable insights.

The funding round was led by Yaletown Partners and co-directed by the Industrial Innovation Venture Fund of BDC, with participation from Export Development Canada (EDC), BMO Capital Partners, and a credit line from CIBC Innovation Banking. This financial backing equips Nanoprecise with the resources to accelerate its market presence and strategic initiatives.

Hans Knapp, partner and co-founder of Yaletown Partners, stated, “Predictive maintenance is no longer a luxury; it’s a strategic necessity for industrial resilience and efficiency.” He praised Nanoprecise for not only advocating for efficiency to its clients but also demonstrating financial discipline by achieving maximum revenue per investor dollar raised in its category.

As industries advance their digital transformation journeys, Nanoprecise offers a high-impact, scalable solution that enhances operational reliability and sustainability. BDC Capital's Erin Sheets remarked, “The strength of Nanoprecise lies in its diverse approach, both in the global markets it serves and the composition of its team. This diversity, along with their innovative use of LLM models to generate synthetic data, allows them to outperform much larger competitors in both analytical accuracy and solution profitability.”

Smarter Maintenance, Fewer Surprises

Most predictive maintenance programs often focus solely on downtime reduction, applicable to only 10%-20% of critical production machinery. However, the majority of rotating equipment in any process industry—80%-90%—features some redundancy. Thus, focusing solely on downtime does not capture the full value. Nanoprecise’s patented ECM approach provides insights that, when implemented, result in savings that justify using ECM to reduce downtime across not only critical machinery but also the remainder of the plant.

Nanoprecise is revolutionizing the market with AI-driven diagnostics that extend beyond simple fault detection, delivering clear and valuable insights. The company boasts a remarkably low false alarm rate of less than 1% for both false positives and negatives, along with prescriptive information based on value and energy efficiency trends. Their solution is designed for demanding environments, with certifications meeting Zone 0 and C1D1 requirements, and is cybersecure by design (with SOC II Type II certification).

“Detecting failures before they happen is crucial, but today, that’s just the first step,” said Sunil Vedula, CEO of Nanoprecise. “With this investment, we’re transforming maintenance from mere assumption to a strategic advantage. Machines will not only indicate something is wrong but will provide a comprehensive insight into what's happening, why it’s important, and what steps to take next.” Their vision is to empower maintenance teams to make more informed and proactive decisions.

Scaling Innovation with New Leadership

To drive their rapid growth, Nanoprecise has recently expanded its leadership team to broaden its global vision. New appointments include Param Desai as Chief Product Officer, to spearhead AI-driven product innovation, and Kevin Clark as Chief Evangelist, focusing on guiding industries in adopting ECM.

About Nanoprecise Sci Corp

Nanoprecise Sci Corp is an AI-powered predictive maintenance solution that integrates IoT sensor technology with machine learning to enhance machine efficiency and contribute to sustainability. For more information, visit nanoprecise.io.

About Yaletown Partners

Yaletown Partners is a leading Canadian venture capital firm investing in technologies that digitally transform traditional industries, prioritizing climate-resilient growth. Backed by significant institutional investors, including pension funds, Yaletown operates from hubs in Vancouver, Calgary, Edmonton, Toronto, Montreal, and San Francisco. More information can be found at yaletown.com.

About BDC

BDC has been Canada’s bank for entrepreneurs for 80 years, supporting business development through financing and advisory services. Its capital division offers a wide array of venture capital solutions to foster the growth of Canada’s most innovative firms. For additional information, visit bdc.ca.