# Niricson Software

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/niricson-software

- Industry: Software
- Headquarters: Victoria, Canada
- Website: www.niricson.com
- Total disclosed funding: $7.5M
- Latest round: Series A (Aug 2, 2023)
- Investors on record: 7

## About

Based in BC, Canada, and founded in 2020 by co-founders Harsh Rathod and Aki Tomita, Niricson Software Inc. operates as a platform that provides analytical data for infrastructure identification and risk identification. Niricson assists asset owners or asset managers such as utilities, federal governments, state governments, and engineering consulting firms in inspecting, managing, and forecasting the performance of their assets over time. In August 2023, Niricson Software Inc. raised CAD 10 million in Series A funding led by investor MUUS Climate Partners, with participation from other investors Bentley Systems, Sustainable Development Technology Canada, Export Development Canada, Invest Victoria, Australia, Forward Venture Capital, Techstars, and other investors.

The company's flagship product is called AUTOSPEXTM, a proprietary damage assessment cloud platform. AUTOSPEX empowers asset managers and civil engineers by offering critical insights and multi-defect layer visualization for the current condition of their infrastructure assets. Leveraging Artificial Intelligence (AI) and Machine Learning techniques, AUTOSPEX automatically maps and quantifies damage to concrete structures, such as cracks, spalling, and alkali-aggregate reactions. The platform serves as a quantum leap forward for the industry, eliminating the need for costly and cumbersome scaffolding setups for inspections while significantly improving crack monitoring. Clients gain exclusive access to the software, where they can visualize assets digitally and analyze the collected data comprehensively.

The company plans to use the August 2023 funding to grow its market reach and boost the R&D of its AI-driven predictive analytics Software as a Service (SaaS) platform.

## Funding rounds

- Series A, Aug 2, 2023, $7.5M — Export Development Canada, Invest Victoria, MUUS, Techstars, Sustainable Development Technology Canada, Bentley Systems, Incorporated, Forward Venture Capital

## Investors

- Export Development Canada — Series A
- Invest Victoria — Series A
- MUUS (https://capitalatlas.ai/funds/muus) — Series A
- Techstars (https://capitalatlas.ai/funds/techstars) — Series A
- Sustainable Development Technology Canada (https://capitalatlas.ai/funds/sustainable-development-technology-canada) — Series A
- Bentley Systems, Incorporated — Series A
- Forward Venture Capital (https://capitalatlas.ai/funds/forward-venture-capital) — Series A