• Tractian, a Brazilian provider of predictive maintenance solutions for machines, has raised USD 15 million in a Series A round led by Next47 with participation from YCombinator and several other previous investors. This round brings the company’s total funding to USD 18.7 million.

• The funds will be used to accelerate product development. The company also aims to consolidate its position in the global market with plans to enter the US later this year.  During the next 18 months, the company aims to reach 600 customers (from the current 200), increase sensors in the field to 20,000, and headcount to 200.

<ul><li> Analyst QuickTake: Tractian will compete directly with large-scale companies like SparkCognition, which also has a presence in Brazil and the US, and companies like FogHorn and Augury, which serve the North American market. The predictive maintenance space has seen increased interest and market consolidation lately with several funding rounds and acquisitions reported. For example, SparkCognition raised USD 123 million in January this year and acquired Integration Wizards in March. Augury, which raised USD 180 million in October 2021, also acquired another predictive maintenance company, Seebo, last week to expand its operations and market share.</ul>