Niricson, a UVic spinoff that digitizes infrastructure assets like dams or spillways, completed a Series A worth over $10 million. The round was led by led by MUUS Climate partners, and joined by Bentley Systems, Sustainable Development Technology Canada, Export Development Canada, Invest Victoria, Australia, Forward Venture Capital, Techstars, and other investors. The company previously raised $2 million.

The newfound capital will impact Niricson in a pair of ways. First, the company plans to expand its global footprint by using robotics, computer vision, and acoustic technology combined with AI. That technology will make predictive maintenance of large-scale civil assets like dams, spillways, nuclear power plants, bridges, airport runways, and tunnels safer, faster, and more efficient.

Second, it will accelerate R&D efforts focused on developing the world's first AI-driven predictive analytics SaaS platform, which is dedicated exclusively to managing critical infrastructure assets. This would ensure asset safety and optimal performance for infrastructure owners and operators.

"We are now serving more than 20 large customers owning dams, bridges, runways, and other critical assets globally,” said Harsh Rathod, CEO and co-founder. “Over the last several years, we have learned a lot and built our products to address the real problem faced every day by our customers. With our series A raise complete, we now stand ready to drive even greater value for stakeholders while accelerating responsible growth throughout the globe."