Pulse Industrial snags VC financing led by Momenta

• The round’s other backers were new investor Phoenix VP and existing investors Celtic House Asia Partners and SOSV
• The round’s proceeds will help Pulse Industrial continue to advance research and development
• Additionally, they will be used to integrate valuable partnerships to expand coverage to all areas in North America and beyond

Waterloo, Ontario-based Pulse Industrial, a developer of an artificial intelligence platform focused on industrial equipment failure monitoring, has raised financing. No financial terms were disclosed.

Momenta led the round. The other backers were new investor Phoenix VP and existing investors Celtic House Asia Partners and SOSV.

Pulse has developed an artificial intelligence platform for internet-of-things products that provide advanced accuracy in both diagnostics and reporting for industrial equipment failure monitoring. Utilizing easy-to-install, wireless, smart monitors over LoRaWAN networks, Pulse cloud solutions deliver failure alerts through e-mail and dashboard in real-time to improve plant and building efficiency, decrease downtime and optimize equipment functionality.

The round’s proceeds will help Pulse continue to advance research and development. Additionally, they will be used to integrate valuable partnerships to expand coverage to all areas in North America and beyond.

“Pulse Industrial is a perfect example of our digital industry investment thesis: using digital solutions to transform industrial heating creating significant outcomes in efficiency, safety and sustainability. We are proud to expand our investment in Pulse Industrial and to support the team in creating the future of industrial heating,” said Ken Forster, executive director of Momenta, in a statement.

Momenta is a digital industry venture capital and growth equity firm focused on opportunities in Europe and North America.