Proemion Raises €33.5M in Growth Funding
Summary
The round was led by Battery Ventures. As part of the investment, Batterys Max-Julian Kaye is joining Proemions board.The company intends to use the funds to expand international operations, execute other organic-growth initiatives and pursue acquisitions.Led by CEO Robert Thomas Michaelides, Proemion creates devices and connectivity solutions for businesses. Its mission is to empower people to make data-driven decisions, connecting their machines for success. The companys customers include original equipment manufacturers and mixed-fleet companies who use its telematics solutions to operate machinery through the use of remote diagnostics and analytics. The technology allows customers, who operate in industries including construction, agriculture, logistics, and natural resources, to manage equipment, plan maintenance, save fuel costs, monitor CO emissions, and more.The predictive capabilities of Proemion telematics allow global customers to increase productivity with robust, cloud-based remote diagnostics while reducing operational costs and downtime.The company has global offices in Fulda, Germany, Dayton, Ohio, and Seoul, South Korea.
Funding
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