Novity
Assembly Line
Novity Secures $7.8 Million in New Funding to Revolutionize Predictive Maintenance with its TruPrognostics AI
Novity®, the provider of the TruPrognostics™ AI, a truly predictive maintenance AI for process industry clients, is pleased to announce the successful closure of $7.8 million in financing. The investment will accelerate Novity’s mission to transform how industries manage and optimize their maintenance operations. On the heels of Novity’s commercial traction, which includes Fortune 1000 (F1000) customers, the investment was led by WERU Investment in a global consortium of investors including Myriad Venture Partners and METAWATER, Co., Ltd.
After spinning its team and technology out of Xerox PARC in 2022, Novity is now serving a growing number of Fortune 1000 clients who recognize the transformative potential of truly predictive maintenance. The TruPrognostics AI has been instrumental in reducing unplanned downtime, maintenance costs, and operational disruptions across various industries, including manufacturing, oil and gas, and chemicals.