Tuesday, July 16, 2013

Veros Systems Aims At Industrial Monitoring With $5M In Funding

College Station-based Veros Systems said this morning that it has raised $5M in a Series A funding round, to go towards its industrial monitoring solutions. The company said its develops systems which uses information from motor current and voltage signals to detect developing mechanical and electrical faults in motors and motor-driven assets. The funding came from Austin Ventures and LiveOak Venture Partners. As part of the funding, the company said it named Jim Dechman as President and CEO; Dechman has previously worked at Procter & Gamble, the Boston Consulting Group, and Monitoring Technology. Venu Shamapant of LiveOak joins the company's board along with the funding. More information »