Cary-based startup ProAxion – which touts itself as a “global predictive maintenance company” – pitched from the CED Venture Connect stage this morning, sharing an update on their current fund raising.
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ProAxion, a Cary-based IoT startup that once described itself as a “check engine light for big machines,” has raised nearly $1.7 million and could raise more.
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Founded in 2015, ProAxion has been called the “check engine light for industrial control systems.” According to its website, its mission is to leverage the latest and best in IoT technology to provide easy-to-use and cost-effective predictive maintenance tools for both large and small industrial facilities.
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Four Raleigh-based IoT startups are set to pitch their products in front of a panel of industry leaders from the Industrial Internet Consortium in a pitch night hosted by RIoT.
Read MoreWhen machines go down in a manufacturing facility, it’s costly and all too often “When a machine breaks, you know until it happens,” says Justin Rothwell, co-founder and CEO of ProAxion. The Cary-based company, just incorporated in September, is developing what it calls a “check engine light for big machines.” Rothwell and his co-founder Elliot Poger, CTO, met at the Triangle Startup Weekend at the American Underground in June. They discussed the idea Rothwell had in his head for years and started working together in August. Portable sensors make it possible for mid-sized manufacturing operations with machines that have...
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