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PreAct Technologies announces second close of Series B raising USD 20 million
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Apr 25, 2023
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Apr 25, 2023

PreAct Technologies announces second close of Series B raising USD 20 million

Funding

  • PreAct Technologies, a  developer of safety and driving assist tools, announced the second close of its Series B funding round, bringing the total raised during the round to USD 20 million. The round was led by I Squared Capital, with participation from investors including State Farm Ventures, Luminate, and Traylor Capital. This brings the company’s total funds raised to date to USD 47 million.

  • The company intends to use the funds to capitalize on the growing demand for its products from industries like agriculture, healthcare, and robotics.

  • Today, the company also revealed that it has established its new European headquarters in Barcelona, Spain.

  • Analyst QuickTake: The first close of PreAct Technologies’ Series B round was announced in January this year, where the company raised USD 14 million led by I Squared Capital for the same purpose—i.e., to expand its offering to industrial and other non-automotive applications.

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