Southampton-based Senseye closes £3.5m Series A


Southampton-based Senseye Limited, a predictive maintenance software firm, has raised £3.5m in a Series A led by MMC Ventures.

Senseye also drew support from Breed Reply, IQ Capital and Momenta Partners.

“We’re delighted to have secured the right capital and strategic partners to help us to accelerate our success,” said Senseye CEO Dr Simon Kampa, who co-founded the company in 2014.

“We’re confidently on the way to making unplanned machine downtime a thing of the past and leading an emerging $5bn market.”

The firm will use the money to continue rolling out its automated diagnostics and prognostics product, which enables users to predict machine failure before it happens.

Senseye says customers are able to save up to 40% on maintenance costs as well as reducing machinery downtime by approximately 50%.

Simon Menashy, partner at MMC Ventures, said: “We believe that predictive analytics is going to have a transformative impact on industrial companies over the next decade.

“Over the past year we have met and assessed more than 250 companies applying AI and machine learning technologies across every sector – Senseye’s mix of cutting-edge data science and deep understanding of engineering puts them amongst the very best we have seen.

“I’m excited to work with them to create some of that transformation and build a big company in the process,” he concluded.

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