Carey Olsen advised Tractian on the round. Onshore counsel was Carvalho Magalhães Advogado.
Tractian, a machine intelligence startup focused on advanced industrial monitoring systems, closed its US$15 million Series A funding round.
Tractian will use its Series A funding, which was led by venture capital firm Next47 along with participation from Y Combinator and others, to consolidate its position in the global market by extending operations from Brazil to Mexico and the US and continuing the development of its industry-leading products.
Founded in Brazil in 2019, Tractian has developed streamlined hardware-software solutions designed to give maintenance technicians and decision makers comprehensive oversight of their operations with the aid of sophisticated monitoring and analytics.
The Carey Olsen team advising Tractian on the Cayman law aspects of the Series A was led by partner Alistair Russell (Picture), assisted by associate Trevor McCabe.
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