Symx.ai raises $6M Series A, partners with Yokohama Off-Highway Tires

Symx.ai, a Sudbury, Ontario-based industrial AI startup formerly called Symboticware, raised $6 million USD ($8.4 million CAD) in Series A funding from Dallas-based Ascent Capital Partners. The all-equity round closed in May and brings total equity funding to $8 million USD ($11.2 million CAD); Symx.ai has also secured about $6.2 million CAD in non-dilutive financing from the Canadian and Ontario governments. CEO Agarwal did not disclose the valuation. Alongside the funding, Symx.ai announced a global technology and commercial partnership with India's Yokohama Off-Highway Tires to white-label and resell its technology to the tire maker's clients. The company now has 40 employees.

AI-generated from reports · 1 hours agoUpdate

Not enough continuous observation data yet; trend chart is not drawn for now.