AI-powered industrial maintenance company closes $35M round with Riverwood Capital

Fracttal, a leading cloud-based platform that integrates asset management software, IoT, and AI, announced today it closed a $35 million USD funding round led by Riverwood Capital and with participation from all existing investors. 

The Madrid-based startup looks to accelerate the use of AI in industrial maintenance and asset management across both Europe and Latin America. It currently manages over 20 million registered assets, with clients including Iberostar, Acciona, Veolia, Coca Cola and FedEx. 

This new investment reinforces Fracttal’s mission of accelerating the use of AI and emerging technologies in industrial management, and will enable the startup to reach more markets and customers who can benefit from managing their physical assets, maintenance tasks, and operations from one unified platform. 

Fracttal, in fact, plans to use the investment to grow in key markets like Mexico, Brazil, Spain and France. 

“Fracttal was born from the conviction that maintenance must move from reactivity to proactivity, and be a driver of significant operational efficiency gains. It should be a source of intelligence and safety, not a burden,” noted Christian Struve, CEO and co-founder of Fracttal. 

“Long before launching Fracttal, we saw thousands of companies struggling with manual processes and outdated spreadsheets, and we knew there was a better way. Today, AI is accelerating this shift, and Fracttal is at the forefront with a platform built on predictive and agentic capabilities that transform maintenance into a competitive advantage,” he added.

Founded in 2015, the company fosters a “Maintenance Heroes” culture, in which its professionals are guided by perseverance, radical truth, continuous learning, collaboration,  and forward thinking. Its Fracttal One AI-powered solution centralizes all maintenance operations through integrations with any enterprise system and third-party IoT sensors, as well as its proprietary portfolio of software.  

This approach reflects a wider transformation currently underway across industries; that AI has swept across industries, unlocking change and innovation that few initially saw coming, is no longer a novel idea. But, technological innovation in the maintenance industry has also meant modern machines are getting harder to maintain, as per McKinsey.

“Extra features, multiple sensors, advanced control systems and sophisticated software all add cost and complexity to maintenance tasks. In industrial environments, that complexity is often compounded by the coexistence of equipment from different areas, different manufacturers, and different technology types,” the consulting firm noted.

As technology becomes sharper, so do available maintenance tools. Generative AI, for one, can accelerate data analysis, automate routine work, and improve predictive insights in maintenance operations – results which have shaped Fracttal’s approach of using AI and IoT data to anticipate failures and optimize tasks. 

In reality, the industry is undergoing a historic transformation. 

“Today, artificial intelligence and the proliferation of industrial sensors are opening possibilities that were unthinkable just a decade ago. We can now understand the condition of an asset before it fails, learn from every operation and empower maintenance teams to make faster, better decisions. That is the future we build every day at Fracttal thanks to our platform and our commitment to true Maintenance Intelligence,” Struve explained. 

The startup will prioritize product development – with a strong focus on enhanced AI and agentic capabilities, IoT sensor technologies and advanced vertical functionalities – with this new funding, although it will also invest in scaling its teams across engineering, data science, product sales, marketing and customer success. 

In parallel, the company will actively pursue inorganic growth opportunities like strategic acquisitions and partnerships to accelerate market expansion, deepen product capabilities, and consolidate its leadership in key regions. 

Riverwood Capital, Struve said, is critical for these processes, as its team knows how to scale technology companies globally, build sustainable businesses and support founders who want to transform industries – from the bottom up.

“Their support comes at the perfect time for our global ambitions, strengthening our leadership in Latin America and accelerating our expansion in Europe, a region where we see a massive opportunity to deploy our AI-driven vision for the future of maintenance.”

Meanwhile, Riverwood Capital co-founder and managing partner Francisco Alvarez-Demalde emphasized that maintenance is one of the largest and most mission-critical functions across industrial and infrastructure sectors. “Yet, it has historically been underserved by modern software.”  

Riverwood Capital executive director Federico Storani, who will be joining Fracttal’s Board, added: 

“Fracttal is uniquely positioned for continued global expansion, with strong momentum in Latin America and a rapidly growing footprint in Europe. We are excited to work with Christian and the Fracttal team as they scale internationally and continue advancing the future of predictive, intelligent maintenance.”

Featured image: Christian Struve via Fracttal.

Disclosure: This article mentions clients of an Espacio portfolio company.