Praemo, founded in 2017 and based in Kitchener-Waterloo, builds the Razor platform, an AI-driven prescriptive intelligence solution that detects abnormal equipment behavior and automatically generates actionable recommendations in real time. The Razor platform ingests industrial IoT data and has been used in automotive, industrial equipment manufacturing, injection moulding, and food and beverage operations. Praemo combines industrial asset and process performance management expertise with data science to deliver learned machine behaviour and prescriptive alerts that recommend preventative actions. The company has 13 employees and says the new funding will be used to expand the team and accelerate its technology roadmap, advancing the capabilities of its prescriptive intelligence software. Praemo has raised a $4.5M CAD Series A follow-on in the current financing, bringing total funding to date to $8M. Investors in the round include McRock Capital, Caterpillar Venture Capital, and BDC Capital’s Industrial Innovation Venture Fund. Praemo builds Razor, an AI-driven industrial IoT platform that detects abnormal equipment behavior and provides prescriptive insights to plant operators and managers. Its technology has been used in automotive, industrial equipment manufacturing, injection molding, and food and beverage operations. The company emphasizes validating Razor’s impact in real operations before broader market rollout. Praemo recently raised funding to accelerate product development and expand market reach. It also hired Paul Boris as executive vice president and CRO to define strategy and lead growth targets. Investors and industry partners note the team’s deep domain expertise and focus on actionable analytics that improve throughput, quality and profitability.

Total raised

$7M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2020