Augury, an Israel-headquartered developer of machine analysis technology, raised $55m in series D funding on Wednesday from investors including subsidiaries of mobile semiconductor producer Qualcomm and reinsurer Munich Re.
Qualcomm Ventures and Munich Re Venture Capital joined venture capital firm Qumra Capital, which led the round, Insight Partners, Eclipse Ventures and Lerer Hippeau. A source close to the company told TechCrunch the round valued it between $200m and $300m.
Founded in 2011, Augury has built a system that combines sensors and artificial intelligence with already proven maintenance practices to track the health of industrial machinery and assess when it is likely to require repairs or replacement.
The round boosted the company’s total funding to $106m and comes in the wake of an $8m investment by Qualcomm Ventures’ AI Fund in December 2019.
Insight Partners led Augury’s $25m series C round 10 months earlier, investing with corporate venturing unit Munich Re/HSB Ventures, Eclipse Ventures, Lerer Hippeau and Pritzker Group Venture Capital.
Munich Re/HSB Ventures and Eclipse Ventures had already co-led a $17m series B round for Augury in 2017 that was also backed by Sound Ventures, Lerer Hippeau, Pritzker Group Venture Capital and First Round. The last three were also earlier investors, as was Formation 8.
