AN INDUSTRY-FIRST DATA INTEGRITY SOLUTION
APERIO today announced the close of an $8.5 million Series A funding round led by National Grid Partners, the venture investment and innovation arm of National Grid plc., one of the largest investor-owned energy companies in the world.
APERIO will use the investment to scale its industry-first Industrial Internet of Things (IIoT) data integrity solution, which enables organizations to reduce operational expenses, make better-informed strategic business decisions, and turn validated industrial data into a competitive asset.
“We’re pleased to welcome APERIO as the newest member of National Grid Partners’ growing portfolio of innovative companies that are solving problems created by an explosion of data in connected industrial environments,” said Lisa Lambert, Chief Technology & Innovation Officer at National Grid, and Founder and President of National Grid Partners.
“APERIO’s unique technological approach to improving the quality of industrial data makes them a highly attractive target for investment. We look forward to future innovation and growth from APERIO as they continue to revolutionize this field.”
Andre Turenne, Director at National Grid Partners, will join APERIO’s Board of Directors. The Series A round includes several additional strategic investors, including EDP Ventures, the venture investment arm of global energy company EDP Group. Additional investors include Data Point Capital, Jump Capital, Scopus Ventures, and Soundproof Ventures.
Organizations in such sectors as mining, power generation, oil & gas, manufacturing, and chemical processing depend on access to reliable data for operational efficiency, safety, and strategic planning. As more of these companies advance their digital transformation initiatives through IIoT technologies, reliable data becomes a competitive advantage.
However, industrial data must be analyzed and validated before it is actionable. Unreliable industrial data leads to system downtimes, equipment failure, loss of productivity, and even safety risks. APERIO’s data integrity solution, built on Machine Learning and Artificial Intelligence, enables organizations to easily validate data in real time to ensure that operational and strategic decisions are rooted in accuracy.
“Data integrity has become the number-one inhibitor to maximizing ROI in digital solutions for industrial organizations, with over 50 percent of today’s data science budgets dedicated to cleaning up data quality,” said Jonas Hellgren, CEO of APERIO Systems. “APERIO’s innovative technology solves this problem for customers all over the world. With this investment from world-class strategic and financial investors, we now have the ability to scale our solution and provide comprehensive, long-term support for global industrial leaders.”
About APERIO
APERIO is the leader in industrial data integrity solutions. We help customers drive profitability and sustainability goals while mitigating risk in their industrial operations. Powered by AI machine learning, APERIO automatically validates operational data at scale to improve data accuracy, security, and value, allowing for better, smarter business decisions based on real-time, trusted, superior data. Follow us on LinkedIn.
About National Grid Partners
National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc., one of the largest investor-owned energy companies in the world. NGP invests for strategic and financial impact and leads companywide culture transformation efforts. The organization provides a multi-functional approach to building startups, including innovation (new business creation), incubation, corporate venture capital, business development, and culture acceleration. NGP is headquartered in Silicon Valley and has offices in Boston, London, and New York. Visit ngpartners.com or follow us on Twitter @ngpartners_ and LinkedIn