Israel-based Augury Inc., a provider of internet of things sensors and artificial intelligence to predict machine repairs, today announced it has raised $75 million in a late-stage funding round.

Lightrock led the Series F round, with returning investors participating including Insight Venture Partners, Eclipse Ventures, Munich Re Venture Capital, Qualcomm Ventures, Lerer Hippeau Ventures and Qumra Capital.

Manufacturing and industrial businesses turn to Augury to optimize their factory floor maintenance processes by installing IoT sensors directly on equipment. The sensors are equipped with temperature, ultrasonic vibration and magnetic field detectors that stream real-time measurements.

The company uses AI algorithms based on the type of equipment and its operation to predict potential maintenance issues, prevent failures and understand what might be wrong with a machine. That allows repair teams to source repair parts quickly and schedule outages to increase availability.

“Augury has a long history of firsts, from the introduction of prescriptive AI-driven solutions that eliminate downtime, and the first truly global-scale Industrial IoT deployments in our category, to the introduction of AI solutions that encompass both machine and process health,” said co-founder and Chief Executive Saar Yoskovitz. 

Yokovitz said the new funding would go toward continuing to develop the company’s detection technology and to include agentic AI capabilities. This will provide additional guidance to customers about how to act on real-time data from machines and strategize process maintenance to reduce waste and energy consumption.

Since the company’s last funding round in 2021, Augury said it has logged more than 500 million hours of analysis on its platform and generated an estimated $1 billion of value for customers using its health solutions across 40 countries. The company claims customers such as giant enterprise industrial businesses including PepsiCo Inc., DuPont de Nemours Inc. and Colgate-Palmolive Co.

Yoskovitz said he believes Augury is positioned as a leader in industrial AI, but the company will not be sitting on its laurels. “[W]e see our accomplishments to date as simply the preparation for the opportunity we have ahead of us,” he added.

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