BC Business
Niricson
Several organizations are taking part in the investment.
It’s been a whirlwind few years for Victoria-based tech startup Niricson. The company was launched in 2020 after co-founder and UVic civil engineering grad Harsh Rathod learned that a bridge in India his family often used had collapsed, killing 30 people.
He started focusing on using robotics and computer vision to assess the condition of dams, bridges and other infrastructure and started the company a year after finishing his PhD.
Not long after, Niricson was accepted into the prestigious Techstars-Arcadis accelerator in the Netherlands and landed several dam inspection contracts with BC Hydro.
This week, the company announced more than $10 million in Series A funding. The round was led by New York-based MUUS Climate partners and supported by Bentley Systems, Sustainable Development Technology Canada, Export Development Canada, Invest Victoria, Australia, Forward Venture Capital, Techstars and others.
The funding will allow Niricson to expand its global footprint and accelerate research and development efforts focused on developing the world’s first AI-driven predictive analytics SaaS platform dedicated to managing critical infrastructure.
“We are now serving more than 20 large customers owning dams, bridges, runways, and other critical assets globally,” said Rathod in a release. “Over the last several years, we have learned a lot and built our products to address the real problem faced everyday 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.”