ProAxion, Inc.

ProAxion, Inc. specializes in predictive maintenance solutions aimed at enhancing operational reliability and machine health in manufacturing environments through innovative sensor technology and cloud-based software. Founded in 2015 in Raleigh, US, ProAxion, Inc. focuses on providing predictive maintenance solutions.

The company raised USD 0. 5 mn in a SEED funding round on September 22, 2017, with Triangle Angel Partners and VentureSouth as lead investors. ProAxion offers an integrated suite of predictive maintenance solutions, primarily through its TACTIX® sensor, which monitors rotating equipment like motors and pumps for optimal health. Complementing the sensor is a cloud software platform that aggregates data for actionable insights, targeting sectors like manufacturing and food processing, with clients including CertainTeed, Cargill, and 3M.

ProAxion generates revenue through direct sales of its TACTIX® sensor and software services, primarily through B2B transactions. Clients typically engage in purchasing equipment along with installation services and may opt for ongoing software subscriptions to benefit from analytics and support, although specific pricing details are not disclosed. Following the recent SEED funding round in September 2017, ProAxion plans to expand its product line and enhance its predictive maintenance offerings. The company aims to penetrate new markets, particularly within North America, to reach additional sectors and clients, utilizing the USD 0.

5 mn raised for product development and market expansion.