Novity

About Novity

Novity is dedicated to eliminating unplanned downtime in industrial settings by providing predictive maintenance solutions. Their mission is to enable manufacturers to foresee the health of their production assets with perfect clarity using advanced AI technology, specifically through their TruPrognostics™ platform, which predicts the Remaining Useful Life of equipment.

Products & Services

TruPrognostics™:An AI-driven predictive maintenance solution that calculates the Remaining Useful Life of industrial equipment, enabling truly predictive maintenance without the need for new hardware. It uses a combination of machine learning and physics models for high accuracy.

Software Platform:A configurable software solution tailored to operational requirements, providing intuitive visualizations of equipment failure timelines to minimize downtime for mission-critical assets like pumps, motors, and compressors.

Asset-Specific Solutions:Specialized predictive maintenance for various asset classes including Reciprocating Compressors, Screw Compressors, Centrifugal Pumps, Electric Motors, Industrial Fans and Blowers, and Heat Exchangers.

PdM Readiness Assessment:A service to evaluate an organization's readiness for predictive maintenance strategies.

Specialties

AI and Machine Learning Predictive Maintenance Remaining Useful Life Prognostics Physics-Based Modeling Asset Health Monitoring

Funding History

Debug: View Raw Funding Data

#	Type	Amount Fields	Date Fields	Investors
1	RT: Venture Capital T: - FT: Venture Capital	A: 7800000 MR: - FA: 7.8 million FAN: 7800000	D: 2024-02-21 FD: 2024-02-21	3 investors

Venture Capital Latest

2024-02-21

$7.8M

3 investors (Pro only)

Growth Metrics

+45%

Employee Growth

YoY

3.2x

Funding Growth

Last Round

12

Markets

Operating

10K+

Customers

Active

View 3 more growth metrics with Pro

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Team & Leadership

M

Maria

Author at Novity

Recent News

Novity Announces New Product Launch

2 days ago

Company unveils innovative solution to transform the industry, expanding market reach and capabilities...

Leadership Team Expands with Industry Veteran

1 week ago

New executive brings 20+ years of experience to accelerate growth and strategic initiatives...

Company Recognized as Industry Leader

2 weeks ago

Receives prestigious award for innovation and customer satisfaction in competitive market...

Key Competitors

C1

Competitor Alpha

Series B · $50M raised

C2

Competitor Beta

Series C · $120M raised

C3

Competitor Gamma

Series A · $25M raised

C4

Competitor Delta

Seed · $10M raised