Swedish startup raises $16.5 million to make CNC machines more intelligent

Stockholm-based IPercept has raised $16.5 million in a Series A round co-led by Isogon Ventures and 2150, with existing investors Luminar Ventures, RunwayFBU, J12 Ventures, and AI.Fund also participating. Spun out of KTH Royal Institute of Technology, IPercept develops patented plug-and-play technology that uses a single device to capture micrometre-scale motion from CNC machines and turn it into component-level condition data without connecting to the machine controller or IT network. The company will use the new funding to expand into the US, make its first local hires, and build out its data platform with additional AI applications aimed at bringing predictive maintenance and real-time machine intelligence to discrete-part...

Read the full article at the source.