Industrial IoT analytics company UpTake nabs $117M Series D

UpTake, an Industrial-IoT analytics company yesterday raised a Series D round of $117M at a post-money valuation of $2.3 billion. Investment firm Baillie Gifford led the latest round that brought UpTake’s total funding to $250M.

UpTake is a SaaS (software-as-as-Service) product capable of reading ‘machine sensor data’. Its predictive analytics software collects and interprets sensor data for clients in the mining, rail, energy, aviation, retail, and construction industries. The software further utilizes the ML (machine learning) technology to predict incidents/events for the monitored machinery.