Nikola Labs, a Columbus, OH-based provider of sensor-based reliability solutions, raised $20M in Series A funding.
The round was led by G2 Venture Partners and Triangle Peak Partners.
The company intends to use the funds to accelerate development of its IoT platform and machine learning capabilities and expand across new markets.
Led by CEO Brian Graham and Co-Founder and Executive Chairman Will Zell, Nikola Labs simplifies proactive maintenance and eliminates unplanned downtime for global manufacturers. AssetWatch™ combines proprietary sensor systems, third-party data inputs, machine learning and prescriptive insights from a staff of expert condition monitoring engineers to predict upcoming machine faults, allowing customers to repair critical assets before costly failures.
The company is a spinout of The Ohio State University.