Samotics Secures €20 Million EIB Financing to Accelerate AI-Driven Energy Efficiency and Reliability Solutions

Samotics Secures €20 Million EIB Financing to Accelerate AI-Driven Energy Efficiency and Reliability Solutions

Samotics Secures €20 Million EIB Financing to Accelerate AI-Driven Energy Efficiency and Reliability Solutions (IN BRIEF) Samotics, a leading Dutch company in electrical data analytics, has secured €20 million in financing from the European Investment Bank (EIB) to accelerate its research and development on AI-driven technology designed to enhance the reliability and energy efficiency of electrical motors. The investment, supported by the Europe…

Leiden-based electrical data analytics company Samotics secures €20M from EIB - Silicon Canals

On Monday, Leiden-based Samotics, an electrical data analytics company, announced that it has signed a €20M financing agreement with the European Investment Bank (EIB). The EIB financing is supported by the European Commission under its InvestEU initiative. The Dutch company will use the funds to accelerate the research and development of its technology, which can boost reliability and energy efficiency in electrical motors using AI. The announc…