About ProAxion
ProAxion is a Technology company based in Raleigh (United States) founded in 2015. IoT-enabled sensors for industrial machine monitoring are provided. It operates in the Technology and Industrial Goods & Manufacturing sectors. ProAxion has raised $2.62 million across 5 funding rounds from investors including Triangle Angel Partners, VentureSouth and The Launch Place. ProAxion offers products and services including ProAxion System, Sensors, and Analytics Tools. Its focus areas include Semiconductors, Sensors, Industry Applications and Industrial Process Monitoring. Its legal entity is ProAxion, Inc. Its competitors include UpKeep, Uptake and Uptime AI; 3 of its 3 listed competitors have raised funding.
Company details
Founded in 2015 and based in Raleigh, United States, ProAxion operates in the industrial IoT sector. Plug-and-play sensors are offered to measure and transmit vibration and temperature data from rotating machines such as motors, gearboxes, bearings, and pumps. Connectivity is enabled through a gateway using cellular, WiFi, or Ethernet to link sensors with the cloud. A web-based dashboard is provided for data analysis, alerts, and historical trends.
- Headquarters Raleigh, United States
- SectorsTechnologyIndustrial Goods & Manufacturing
- Email••••••••
- Website proaxion.io
- Social LinkedIn X Facebook
- Legal Name Proaxion, Inc.
- Total Equity Funding$2.62M (USD)
in 5 rounds
- Latest Funding Round$1.69M (USD), Seed
Mar 2022
- InvestorsTriangle Angel Partners
& 3 more
Products & Services of ProAxion
ProAxion offers a comprehensive portfolio of products and services, including ProAxion System, Sensors, and Analytics Tools.
Wireless platform for monitoring industrial machine health and preventing outages
Easy-to-install devices for vibration analysis in manufacturing environments
User-friendly analytics for interpreting machine data and alerting users
Funding Insights of ProAxion
ProAxion has successfully raised a total of $2.62M across 5 strategic funding rounds. The most recent funding activity was a Seed round of $1.69 million completed in March 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $2.62M
- Total Rounds 5
- Last Round Seed — $1.69M
- First Round $250,000
(Jun 2016)
- Investors Count 4
All 5 funding rounds of ProAxion with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2022 | $1.69M | Seed | – | – | – |
| Jul 2020 | $95,441 | Seed | – | – | – |
| Sep 2017 | $752,930 | Seed | – | Triangle Angel Partners | |
| Jan 2017 | $75,000 | Seed | – | – | |
| Jun 2016 | $250,000 | Grant | – | – |
4 investors in total: 4 institutional.
Investors in ProAxion
ProAxion has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Triangle Angel Partners, VentureSouth and The Launch Place.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| triangleangelpartners.com | ||||
Early-stage ventures in the Southeast are supported by VentureSouth. | 2014 | venturesouth.vc | Greenville, United States | |
The Launch Place is engaged in supporting startups through funding and mentoring. | thelaunchplace.org | Danville, United States | ||
Entrepreneurial potential in North Carolina is supported by NC IDEA. | 2006 | ncidea.org | Durham, United States |
Investor details for ProAxion
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of ProAxion
1 people are tracked at ProAxion (1 in leadership).
| Name | Role | Group |
|---|---|---|
Chip Chappell | Senior Business Development Director | Leadership |
Complete people profiles for ProAxion
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of ProAxion
3 dated milestones of ProAxion across 7 years, from founding to its latest funding, stage changes and deals.
- Founded ProAxion is founded.
- Funding First funding round of $250K.
- Funding Latest funding round, Seed, of $1.7M.
Competitors of ProAxion
ProAxion has 3 listed competitors in our database, 3 of them funded. They include UpKeep, Uptake and Uptime AI.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| upkeep.com | 2015 | Los Angeles, United States | $48.71M | 138 | Web-enabled solutions for asset operations and maintenance management are offered. | |
| uptake.com | 2014 | Chicago, United States | $282.26M | 53 | Cloud-based predictive analytics platform is utilized for asset maintenance insights. | |
| uptimeai.com | 2019 | San Francisco, United States | $19M | 36 | Provider of cloud based management solutions |
Detailed competitors of ProAxion
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Sensors & Smart Devices
3 companies that operate in the same segment as ProAxion (Sensors & Smart Devices) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Smart fitness equipment and streaming platforms are provided. | 2011 | New York, New York, United States | USD 995.53 M | USD 2.45 B | 2,894 | |
VR-based head-mounted displays for gaming are provided by Oculus. | 2012 | Menlo Park, California, United States | USD 107.05 M | |||
Cloud-based business telephony and home security services are provided. | 2004 | Palo Alto, California, United States | USD 87.97 M | USD 273.6 M | 1,190 |
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Frequently Asked Questions about ProAxion
ProAxion was founded in 2015 and raised its 1st funding round 1 year after it was founded.
ProAxion is headquartered in Raleigh, United States. It is registered at Raleigh, North Carolina, United States.
ProAxion is a funded company, having raised a total of $2.62M across 5 funding rounds to date. The company's 1st funding round was a Grant of $250K, raised on Jun 2016.
Founded in 2015 and based in Raleigh, United States, ProAxion operates in the industrial IoT sector. Plug-and-play sensors are offered to measure and transmit vibration and temperature data from rotating machines such as motors, gearboxes, bearings, and pumps. Connectivity is enabled through a gateway using cellular, WiFi, or Ethernet to link sensors with the cloud. A web-based dashboard is provided for data analysis, alerts, and historical trends.
ProAxion offers ProAxion System, Sensors, and Analytics Tools.
ProAxion has 4 investors. Key investors include Triangle Angel Partners, VentureSouth, The Launch Place, and NC IDEA.
ProAxion operates through Proaxion, Inc..