US-based industrial data analysis technology developer Arundo Analytics has received $25m in series A funding from investors including construction firm Sundt and diversified holding company Canica.
The round featured venture capital firms Northgate Capital and Horizon Ventures, as well as investment firm Strømstangen, family office Stokke Industri, asset management firm Arctic Fund Management and Stanford StartX, the accelerator affiliated with Stanford University.
Arundo was founded in 2015 and graduated from StartX the following year. It provides cloud-based data analytics software that helps heavy industry operators aggregate data from their facilities which can then be formulated by customisable machine-learning models that plug in to Arundo’s platform.
The capital will be used to hire software engineers and data scientists, and to expand Arundo’s sales and marketing efforts, targeting heavy industries such as oil and gas, maritime, mining, chemicals, power and manufacturing.
Arundo has now raised $32.5m in funding altogether, including $4.8m in a 2016 seed round that valued it at $20m, and a strategic investment by technology consultancy Brillio in 2015.
StartX and Northgate took part in the latest round as existing backers, while advisory firm TRK Group and VC firm Alliance Venture are also past investors.