Momenta leads Series A1 funding for APERIO, a leader in operational data quality. APERIO provides AI-powered data observability solutions, enabling profitable and sustainable operations within existing workflows. APERIO excels at addressing critical data issues in process histories, sensor monitoring, and data analytics, positioning itself as an industry leader.
ZURICH and BERLIN and SAN FRANCISCO, Aug. 24, 2023 /PRNewswire-PRWeb/ -- Momenta spearheaded the Series A1 funding round for APERIO, a front-runner in operational data quality. APERIO offers AI-powered data observability solutions, enabling customers to foster profitable and sustainable operations while maintaining their existing workflows. As an industry leader, APERIO's solution excels at detecting, prioritizing, and rectifying crucial data issues tied to process historians, sensor monitoring, and data analytics.
This is the twelfth company receiving investment from Momenta's AIoT Ecosystem Fund, powered by Advantech, the world leader in digital industrial solutions. APERIO will invest the funds to scale its software solution and global sales organization.
According to McKinsey, poor data quality is a consistent roadblock for the highest-value AI (Artificial Intelligence) use cases in industrial customers with asset-intensive operations. Legacy system architecture and weak data governance also contribute to data quality challenges.
APERIO offers an AI-driven SaaS platform called APERIO DataWise that automates the validation of real-time operational data in industrial organizations. It addresses data completeness, content, and metadata context, using AI and machine learning (ML) to scale, prioritize, and remediate data quality issues. The platform enables monitoring and validating millions of tags with actionable insights for data quality improvement. Their solution fills a gap that non-scalable in-house solutions cannot address and provides clear category leadership. It helps industrial companies make smarter data-driven decisions, improve profitability and sustainability, and mitigate risks associated with poor data quality.
"APERIO offers us a strategic opportunity to capitalize on an inflection point in the current market landscape. With their leading Data Quality platform, they provide an essential solution for top-tier industrial players facing significant data challenges." Michael Dolbec, Momenta's Managing Partner, expresses his excitement for APERIO's future as they fulfill a universal need within asset-intensive industrial businesses.
"We are strategically allocating the raised funds to fuel the expansion of our software solution and bolster our global sales network," explained Jonas Hellgren, CEO of APERIO, adding, "We are thrilled to have Momenta at the helm of this investment series, given their well-established reputation and extensive connections within the industrial sector."
Jerry O'Gorman, VP at Advantech IIOT division, stated, "We are pleased to support this investment in APERIO. Our leading role in edge computing gives us a deep appreciation for the value of data integrity and, thus, the need for sound industrial data operations. We look forward to collaborating with APERIO, co-creating to help them scale in this critical space."
About APERIO:
Founded in 2020, 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 smarter business decisions based on real-time, trusted, superior data. For more information about APERIO, visit http://www.aperio.ai.
About Advantech:
Advantech has the corporate vision to "Enable an Intelligent Planet." The company is a global leader in IoT, intelligent systems, and embedded platforms. To embrace the trends of IoT, big data, and artificial intelligence, Advantech promotes IoT hardware and software solutions with the industrial IoT platform WISE-PaaS core to assist business partners and clients in connecting their industrial chains. Advantech is also working with business partners to co-create business ecosystems that accelerate the goal of industrial intelligence. For more information, please visit https://www.advantech.com.
About Momenta:
Momenta is the leading Industrial Impact venture capital + growth firm. We accelerate entrepreneurs and leaders devoted to the digitization of energy, manufacturing, smart spaces, and supply chains. Since 2012, our team of deep industry operators have invested in over 50 entrepreneurs and helped scale over 150 industry leaders via our award-winning executive search and strategic advisory practices. For more information, please visit http://www.momenta.one.
Media Contact
Sandra Mueller, Momenta Partners, +41 41 562 00 07, [email protected], https://www.momenta.one/
SOURCE Momenta Partners
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