- Dutch-based leader in electrical data analytics for condition and energy efficiency monitoring signs €20 million financing with European Investment Bank.
- Samotics will use the funds to accelerate the research and development on its technology, which can boost reliability and energy efficiency in electrical motors using AI.
- The EIB financing is supported by the European Commission under its InvestEU initiative.
Dutch-based electrical data analytics company Samotics has signed a €20 million financing agreement with the European Investment Bank (EIB) to accelerate its research and development activities. The EIB’s investment will enhance the company’s solutions regarding the monitoring of machine health and energy efficiency, while accelerating work on its next-generation integrated solution, planned for launch this year. The funding aligns with Samotics’ mission to make industries more reliable, efficient, and sustainable.
The EIB Group wants to accelerate digitalisation and innovation in Industry 4.0 related technology, such as artificial intelligence and microchips, as this kind of innovation is key to Europe’s green and digital transitions, and crucial in ensuring its technological and strategic autonomy. Reliability and energy efficiency are instrumental for Europe’s public and private efforts for decarbonisation and sustainability across different sectors. The EIB’s financing benefits from the backing of the “Future Tech” guarantee within the InvestEU initiative of the European Commission.