Novity develops TruPrognostics AI, a predictive intelligence platform for industrial reliability teams that combines physics-based models, machine learning, and contextual AI to diagnose faults, forecast remaining useful life, and recommend maintenance actions. The platform works with data customers already collect and reports diagnostic true positive rates routinely above 90%. Novity has proven deployments across upstream and midstream oil and gas, LNG terminals, and wastewater operations. The company aims to help process industries transition away from fixed maintenance schedules, starting with oil and gas infrastructure. Novity is led by CEO Markus Larsson and is headquartered in San Francisco, CA. Following the strategic investment from Acario Innovation, Novity said it will expand operations and its development efforts.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2024