I-Care Gallops into Unicorn Status with €20 Million Fundraising Success

I-care, a leading predictive maintenance company based in Belgium, recently announced the successful completion of a €20 million fundraising and refinancing round exclusively for existing shareholders and employees. This milestone has elevated the company to unicorn status in the industry.

With the infusion of funds, I-care is now poised to ramp up its growth strategies, expand its market presence, and attract external investors in 2026. The company also aims to relaunch its initial public offering, which was previously delayed.

“Achieving unicorn status is a significant achievement for us. It reflects our early investment in AI, focus on research and development, and the establishment of our production unit. These strategic decisions, though challenging at times, have proven to be pivotal in maintaining our competitive edge. Our current success validates the effectiveness of our approach,” stated Fabrice Brion, the CEO of I-care.

Established in 2024, I-care offers cutting-edge reliability and predictive maintenance solutions to clients across more than 55 countries. The company’s innovative AI-driven platform, I-see™, seamlessly integrates its services with external systems, consolidates data from various predictive maintenance techniques, forecasts failures months in advance, and shares operational insights for streamlined maintenance planning.

“Following the successful launch of our next-generation sensors and the introduction of the Wi-care as a Service model, a comprehensive subscription-based offering, I-care has experienced remarkable growth. Our state-of-the-art Industry 4.0 manufacturing facility now enables rapid scalability, with a projected production capacity of up to 2,000 sensors per day,” mentioned the company in a recent press release.

I-care has reported consolidated annual revenues exceeding €100 million and a robust order backlog valued at over €200 million. In the past eight years, the company has successfully acquired and integrated eight firms, expanding its workforce to over 1,000 employees and operating across 36 offices in 16 countries spanning the Asia-Pacific, EMEA, and US regions.