• SparkCognition, a provider of AI analytics solutions, has raised USD 123 million from new and existing investors including March Capital, Doha Venture Capital, B. Riley Venture Capital, AEI Horizon X, and Temasek, among others. This round brings the total funding to USD 300 million, valuing the company at over USD 1.4 billion (twice the valuation recorded in October 2019 with the Series C funding).

• The funds will be used to invest in R&D, accelerate sales and marketing, facilitate organic and inorganic growth, and also for the working capital requirements of the company.

• SparkCognition has reported a 90% YoY growth in 2021, with 5x more bookings and a 75% increase in the IP portfolio over the same period.

<ul><li> Analyst QuickTake: SparkCognition now joins the handful of companies in the smart factory space to have achieved unicorn status, including Augury , Uptake Technologies , and Locus Robotics . Notably, two of the unicorns (Uptake and Augury) can also be considered the closest peers to SparkCognition, while all three companies offer predictive maintenance solutions for factory operations.</ul>