Reliability Solutions, fast growth predictive & prescriptive analytics company, has reached EUR 3 M series A financing from Icos Capital, the Netherlands and EEC Magenta, Poland
Reliability Solutions (“RS”), a spin-off of the AGH University of Science and Technology in Kraków, has reached 3M EUR funding from ICOS Capital and EEC Magenta to deliver deep learning based Predictive and Prescriptive Analytics solutions for Industrial Operational Excellence to the industry.
RS helps to deal with a range of problems encountered in modern industry – predicting unwanted events, analyzing different problem-solving scenarios, proposing the most cost-effective solutions and optimizing the entire process. Such an approach creates completely new opportunities and opens the door for Industry 4.0.
The solutions developed by RS deliver a true breakthrough, capable of addressing the majority of issues related to Predictive/Prescriptive Analytics systems. Machine learning and an AI-based powerful analytics engine (using a variety of algorithms such as random forests, XGBoost, and Deep Neural Networks) can automatically preprocess huge amounts of data to provide a deep insight and assure the highest possible prediction accuracy of system failures. A Proprietary analytical pipeline creates advanced AI models automatically, which significantly decreases time to deploy and ensures scalability.
Investment in Reliability Solutions is the first investment executed by EEC Magenta – the biggest Polish corporate venture capital fund established by EEC Ventures in partnership with PFR Ventures (Polish sovereign VC fund of funds), NCBR (Polish National Centre for Research and Development) and Tauron Polska Energia.
Cash raised in Series A will be used to cover the company’s growth and expansion in Europe.
Reliability Solutions was supported at its pre-seed stage by Giza Polish Ventures and the Polish Institute for Research and Development, as part of the Bridge Alfa program implemented by the National Center for Research and Development.
About Icos Capital
Icos Capital is a European venture capital fund manager headquartered in Rotterdam, The Netherlands, focused on investment propositions that promote sustainability of human beings and their environment. Icos Capital invests from a collaborative venture fund established in partnership with Nouryon, Bühler Group and Royal Cosun.
About EEC Magenta
EEC Magenta is a Polish venture capital firm, part of the EEC Ventures group, headquartered in Warsaw and with a total capitalization of 50 million euro. EEC Magenta is focused on financing sustainable economy, the digital transformation of utilities and heavy industries. Investors in EEC Magenta funds include Tauron Polska Energia, PFR Ventures and the National Centre for Research and Development.