SensorUp secures Series A financing led by Evok Innovations
Geospatial platform provides complex operations with visibility and automation.
The consortium includes new investors InterGen and Export Development Canada plus previous investors Vanedge Capital and Bluesky Equities.
Calgary-based SensorUp said the investment will be used to accelerate development of its technology roadmap and expand its market of industrial customers.
The North America market for real-time IoT analytics in oil and gas, public safety, military and logistics was roughly $2.2 billion in 2018. Projected CAGR is 23.5% growing to $4.7 billion by 2023.
The SensorUp platform connects all the data from industrial assets and third-party systems to provide historical and real-time insights for critical decision making and the automation of routine tasks.
It optimizes and automates complex physical operations by aggregating disparate sensor and operational data, extracting actionable insights with geospatial-AI, and dispatching resources with an automation engine.
Operations teams can make just-in-time critical decisions, automate efficiencies and achieve global visibility of assets and people. Hidden patterns are highlighted to predict outcomes for savings and improved worker safety cases.