Intelecy grabs NOK 10M for a machine learning solution analyzing industrial processes.
Intelecy, an Oslo, Norway-based company providing a software solution that uses machine learning for analysing industrial processes, secured NOK 10M ($1.3M) in outside capital.
The money comes from private investors and public soft funding, including Investinor, Founders Fund, Innovasjon Norge, Ingar Østby and Skagerak Maturo, which take 35% of the company. The rest belongs to the two founders of the company.
Intelecy, founded in 2017 by Bertil Helseth (CEO) and Espen Davidsen (CTO), provides tools to analyze production data from the manufacturing and processing industry using machine learning to prevent breakdowns, predict failures, improve production processes and provide deep insight into the operations. The company currently operates two first pilot companies and is looking to expand its client portfolio.