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Qualcomm Ventures AI Fund invests USD 8 mln into machine health specialist Augury

The Qualcomm Ventures AI Fund has put USD 8 million into Augury, a company that uses artificial intelligence to give insight into the health of machines, according tu Telecompaper. Qualcomm said the company is a leader in the Industrial Internet of Things (IIoT) based on its established client base, digital transformation expertise and “disruptive” vision. Together, the two companies will look to lay a new foundation for digital machine health.

Augury, which earlier raised USD 25 million from its Series C funding round, said it will use the latest cash injection to exponentially scale its machine health services to make the manufacturing industry more reliable, and to help partners transform their operations, according tu Telecompaper.

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