What is Precision Electric?
Precision Electric specializes in the engineering and design of sophisticated motion control applications. The company offers comprehensive solutions ranging from single-axis servo systems to complex multi-axis configurations, tailored to meet specific client requirements. Their expertise extends to providing integrated network solutions for manufacturing facilities, ensuring seamless operational efficiency. All projects are accompanied by complete documentation, and field startup services are available to guarantee optimal system performance. Precision Electric's dedicated project management team is committed to delivering systems that surpass client expectations, positioning them as a key player in industrial automation and control.
How much funding has Precision Electric raised?
Precision Electric has raised a total of $919K across 3 funding rounds:
Debt
$350K
Debt
$369K
Debt
$200K
Debt (2020): $350K with participation from PPP
Debt (2021): $369K led by PPP
Debt (2024): $200K supported by Huntington National Bank
Key Investors in Precision Electric
Huntington National Bank
Huntington National Bank is a financial institution likely providing debt financing and banking services to support the operational and growth needs of companies like Precision Electric.
PPP
Public-Private Partnership
PPP
Public-Private Partnership
What's next for Precision Electric?
The substantial enterprise-level funding, highlighted by the recent strategic investment, positions Precision Electric for accelerated growth and innovation. This capital infusion is expected to fuel the expansion of their engineering capabilities, enhance their network solutions for manufacturing facilities, and potentially broaden their market reach. The company's focus on delivering high-quality, documented, and supported motion control systems suggests a strategic direction towards solidifying its reputation as a leader in custom industrial automation. Future developments may include advancements in system integration and the adoption of new technologies to further optimize manufacturing processes for their clientele.
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