# Sensatek Propulsion Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sensatek-propulsion-technology

- Industry: Industrial Machinery
- Headquarters: Daytona Beach, US
- Website: www.sensatek.com
- Total disclosed funding: $1.3M
- Latest round: Series A (Nov 10, 2022)
- Investors on record: 5

## About

Sensatek Propulsion Technology, Inc, based in the US, specializes in advanced monitoring solutions utilizing AI and computer vision to enhance asset management in industries like energy and manufacturing.Founded in 2015 in Daytona Beach, US, Sensatek develops innovative monitoring systems that support operational efficiency. The company secured a Seed funding round in November 2022, led by Rhapsody Venture Partners, raising USD 1.34 mn. It has undergone strategic positioning in the market but has not pivotted from its primary focus on AI-driven asset management solutions. The founders, Azryana Soto and Reamonn Soto, have not been noted for prior ventures, and Reamonn Soto currently serves as CEO. Sensatek has closed 2 deals to date, with the most recent deal occurring on November 10, 2022.Sensatek delivers cutting-edge monitoring solutions that employ AI and computer vision to optimize asset management across diverse sectors, including energy, infrastructure, and manufacturing. Their flagship product, the ViDeoMAgic system, is utilized in collaboration with organizations such as the New York Power Authority, allowing for non-contact structural health monitoring and fault detection, thus preventing potential failures. Sensatek’s clientele spans organizations in aerospace, renewable energy, and industrial manufacturing, with deployments extending from the US to other regions with significant infrastructure investments.Sensatek's revenue model is primarily based on B2B partnerships, which involve contracts for implementing their AI monitoring solutions. Revenue streams include initial system setup and ongoing support services that ensure effective performance. The company customizes its offerings to meet specific client needs, leveraging flexible pricing that reflects the complexity of technology integration. Through this model, Sensatek aims to enhance reliability and reduce maintenance risks for its clients, facilitating operational efficiency.In response to its recent funding round on November 10, 2022, where Sensatek raised USD 1.34 mn, the company plans to utilize these funds to expand its product line and improve market reach. Sensatek is developing new monitoring solutions that are expected to launch in the coming years. The company is targeting expansion into additional markets, particularly in regions with substantial infrastructure investments, to further capitalize on its innovative offerings. Sensatek's strategic growth initiatives aim to enhance its presence in the renewable energy and manufacturing sectors.

## Funding rounds

- Series A, Nov 10, 2022 — PenFed Foundation Veteran Entrepreneur Investment Program
- Seed, Sep 13, 2019, $1.3M — Cloquet Capital Partners, National Collegiate Inventors and Innovators Alliance, Rhapsody Venture Partners, Starter Studio

## Investors

- Cloquet Capital Partners (https://capitalatlas.ai/funds/cloquet-capital-partners) — Seed
- National Collegiate Inventors and Innovators Alliance — Seed
- Rhapsody Venture Partners (https://capitalatlas.ai/funds/rhapsody-venture-partners) — Seed
- Starter Studio (https://capitalatlas.ai/funds/starter-studio) — Seed
- PenFed Foundation Veteran Entrepreneur Investment Program (https://capitalatlas.ai/funds/penfed-foundation-veteran-entrepreneur-investment-program) — Series A