MMC-backed Senseye exits to Siemens

Siemens is further expanding its portfolio in the field of innovative predictive maintenance and asset intelligence with the acquisition of Senseye – a leading provider of outcome-oriented predictive maintenance solutions for manufacturing and industrial companies. Senseye’s predictive maintenance solution enables a reduction in unplanned machine downtimes by up to 50%, and increased maintenance staff productivity by up to 30%.

MMC first backed Senseye in 2017 and led its £3.5m Series A round alongside existing investors Breed Reply and IQ Capital.  MMC identified the business as scoring well against its 2017 AI assessment framework – based on an analysis of c. 250 AI companies in the UK.

Margherita Adragna, CEO of Customer Services for Digital Industries, Siemens AG, had this to say of the acquisition:

“Senseye’s AI based solutions complement our digital services portfolio driving efficient and scalable predictive maintenance. This will allow us to offer highly flexible solutions to help our customers across many industries to determine the future condition of their machinery and hence, increase their overall equipment effectiveness”.

Simon Kampa, CEO of Senseye, adds: “Together we can multiply the full potential of Senseye’s innovative predictive technology and deep expertise. Siemens’ global presence and extensive industrial knowledge will ensure that our current and future customers benefit from innovative, seamlessly integrated Industry 4.0 solutions to drive measurable business outcomes.” 

For more information on the acquisition, visit https://press.siemens.com/global