Israeli AI data quality startup, APERIO, secured a $9 million Series A1 funding round led by Momenta with participation from Chevron Technology Ventures, NextEra Energy, National Grid Partners, Delek US, and Bazan Group. The startup plans to allocate these new funds to team expansion, product development, and enhancing the customer experience. The round adds to APERIO’s Series A funding round of $8.5 million, closed in October 2020.
APERIO’s machine learning based technology resolves data-quality issues, empowering manufacturers with robust data governance and enabling informed operational decision-making.
The new investment follows APERIO’s DataWise 2.0 release in February 2023. The updated version came with enhanced features such as efficient tracking and reporting of Data Quality metrics, faster and rigorous root cause analysis, early detection of asset health, and improved usability features.
With capabilities to analyze millions of operational tags for previously undetected anomalies, DataWise 2.0 enables instant remediation by offering a granular view of potential data quality issues. It allows for operational tags to meet stringent data quality measures, thereby enhancing decision-making and performance agility.
APERIO was founded in 2015 by Yevgeni Nogin, serial entrepreneur Michael Shalyt (former founder of Y Combinator batch participant, Evo.Do) and Doron Bergerbest. The latest funding round brings APERIO’s funding raised to over $24 million (StartupHub.ai data).
Momenta recently launched fundraising efforts for their Industry 5.0 Fund, targeted at $100 million.