The industrial sensor manufacturer spun out of Michigan and Virginia has increased its latest round to $51m in a tranche backed by 3M, Ericsson and Armstrong International.

Everactive, a US-based battery-free sensor producer using the research from the universities of Michigan and Virginia, has raised $16m in a series C extension that boosted the round to $51m.
Industrial technology supplier 3M, telecommunications group Ericsson and thermal utility Armstrong International provided the additional series C funding.
Everactive’s series C round stood at $35m in January this year, when it closed a tranche led by industrial equipment manufacturer Fluke and backed by Top Ventures and Asahi Kasei Ventures, respective subsidiaries of oil refinery Thaioil and chemicals provider Asahi Kasei, in addition to New Enterprise Associates (NEA), 40 North Ventures and undisclosed other investors.
Fluke had taken part in a September 2020 close, after a $30m initial tranche three months earlier featuring Osage University Partners (OUP), power and automation technology provider ABB subsidiary ABB Technology Ventures, NEA, Future Fund and Blue Bear Capital.
Founded in 2012 as Psikick, Everactive manufacturers cloud-based wireless industrial sensors that generate energy from sources including thermal fluctuations and light without the need for batteries.
Bob Nunn, chief executive of Everactive, said: “We will leverage the funding to grow an ecosystem through which Everactive’s technology will enable a wide array of high-value, high-volume solutions across industries.”
Everactive had secured at least $5.2m in series A funding in 2014 that included OUP, University of Michigan’s Investment in New Technologies (Mints) Fund, NEA and various angel investors.
OUP then led a $16.5m series B round for Everactive the year after, investing alongside Mints Fund, NEA and various individuals, before the company collected $7.2m in series B1 funding from unnamed backers in 2017.

Edison Fu

Edison Fu is head of Asia development at Global Corporate Venturing.