Physical AI Startup Tractian Raises $130M in Series D Funding for $1.4B Valuation

Dow Jones02:35

Tractian, a physical artificial-intelligence startup, has raised $130 million in a Series D funding round that values the company at $1.4 billion.

The funding round was led by Sapphire Ventures and co-led by M&G Investments' Catalyst fund. General Catalyst, Y Combinator, and Latin American venture-capital firm Monashees were among the other investors in the round.

Tractian makes a platform that uses AI to assess the health of machines used in asset-heavy industries and prevent unplanned downtime. Its offerings are utilized by businesses including Eli Lilly, McKesson, and Coca Cola, the company said Thursday.

"This funding round will allow us to scale our platform even further, providing manufacturers, data center operators, defense companies, utilities and more with strategic insights to help optimize the health of their machines, close the alert-to-action gap and eliminate unplanned downtime and lost revenue," founder and Chief Executive Igor Marinelli said.

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