# Symboticware

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/symboticware

- Industry: Software
- Headquarters: Sudbury, Canada
- Website: www.symboticware.com
- Total disclosed funding: $2.2M
- Latest round: Seed (Aug 18, 2021)
- Investors on record: 4

## About

Based in Canada, Symboticware Inc. operates as a technology company specializing in advanced data ingestion and analytics solutions for asset-intensive industries, enhancing operational efficiency across various sectors.Symboticware Inc. focuses on providing data-driven analytics solutions for industries such as mining, forestry, agriculture, and construction. Founded in 2008, the company is headquartered in Sudbury, Canada. The firm was founded by Kirk Petroski, who has a history of entrepreneurial ventures. In August 2021, Symboticware raised CAD 2.8 million in a Seed funding round led by GreenSky Ventures, with participation from Axion Capital Management, Celtic House Venture Partners, and MaRS Investment Accelerator Fund. This funding marked the company's first significant investment round, bringing the total amount raised to CAD 2.8 million.SYMX.AI specializes in advanced data ingestion and analytics solutions designed to enhance operational efficiency for various asset-intensive industries, including mining, forestry, agriculture, and construction. The company's flagship products, X.Machines and X.Parts, leverage technology to gather and analyze data from a wide range of equipment, from haul trucks to underground support vehicles. X.Machines enables real-time data transfer to the cloud through Wi-Fi, LTE, or satellite connectivity, facilitating data transparency in remote locations. X.Parts employs predictive analytics to assess the remaining lifetime of equipment components, reducing unscheduled downtime and maintenance costs. SYMX.AI serves clients across North America, South America, Australia, and parts of Europe, focusing on sectors where operational reliability is critical.SYMX.AI generates revenue primarily through subscription-based models and direct partnerships with clients in asset-heavy sectors. Clients engage with the company to integrate the X.Machines and X.Parts systems into their operations, enhancing data capabilities. Transactions are structured as recurring subscription services, providing clients with ongoing access to real-time data analytics and predictive maintenance tools. The pricing model accommodates various service tiers, allowing clients to select options based on their operational needs and scale. Revenue is supported by the company's delivery of high-value insights impacting operational efficiency and cost savings for its clients.In August 2021, Symboticware Inc. raised CAD 2.8 million in Seed funding, which will be utilized to advance its mining technology, including developing technologies that enable data-driven decision-making for increased efficiency. The company plans to expand its product offerings with upcoming innovations designed to enhance its analytics capabilities. Additionally, Symboticware is targeting expansion into new geographic markets, specifically aiming to increase its presence in North America and Australia by the end of 2023.

## Funding rounds

- Seed, Aug 18, 2021, $2.2M — Celtic House Venture Partners, Axion Capital Management, MaRS Investment Accelerator Fund, GreenSky Ventures

## Investors

- Celtic House Venture Partners (https://capitalatlas.ai/funds/celtic-house-venture-partners) — Seed
- Axion Capital Management — Seed
- MaRS Investment Accelerator Fund (https://capitalatlas.ai/funds/mars-investment-accelerator-fund) — Seed
- GreenSky Ventures (https://capitalatlas.ai/funds/greensky-ventures) — Seed