Industrial AI Startup Aquant Raises $30 Million

New York-headquartered industrial AI startup Aquant Technologies Ltd. has raised a $30 million series B funding round, the company announced Thursday. The round was led by Insight Partners with participation from existing investors Lightspeed Venture Partners, Angular Ventures, and Silvertech Ventures.

Founded in 2016, Aquant develops and markets machine learning software that mines historical data for insights that can shorten machinery downtime. The company lists Home Depot and Johnson & Johnson as customers. Aquant has raised $40 million to date, according to the company’s statement.

Smart manufacturing (illustration). Photo: Reuters