I-care, a Belgian technology company specializing in predictive maintenance, has achieved unicorn status with a valuation of €1 billion ($1.16 billion) following a $23.2 million fundraising and refinancing round. The capital raise, conducted exclusively with existing shareholders and employees, marks a major milestone in the company’s two-decade journey from a local startup in Mons to a global leader in industrial AI. “Becoming a unicorn is a symbolic milestone,” said Fabrice Brion, CEO of I-care. “To get here, we made tough choices: we invested in AI when few believed in it, prioritized R&D, and built our own production unit. These decisions weren’t easy, but they were essential. Today’s results prove they were the right ones.” The recent funding is the first phase of a three-part development strategy. The “Eau Rouge” operation in 2022 helped I-care become the world leader in predictive maintenance. The second phase, set to launch in 2026, will focus on attracting external investors. The third phase, an initial public offering, was postponed last spring but remains on the long-term roadmap. Over the past 20 years, I-care has grown from a small entrepreneurial venture into a multinational group with a global footprint. The company now reports consolidated annual revenues exceeding $116 million, a customer order book worth more than $232 million, and a workforce of over 1,000 employees. It operates 36 offices across 16 countries, including in the Asia-Pacific region, Europe, the Middle East, Africa, and the United States, serving clients in more than 55 countries. I-care has pursued a strategy of external growth, successfully acquiring and integrating eight companies, several of which are based abroad. The company has also made significant investments in its own technology, including the production of next-generation Wi-care™ vibration sensors and the launch of the Wi-care as a Service model—a subscription-based, all-in-one solution for industrial maintenance. Its state-of-the-art Industry 4.0 manufacturing facility now supports a production capacity of up to 2,000 sensors per day, enabling rapid scaling. The AI-powered I-see™ platform, which monitors over 150,000 sensors in real time, uses advanced algorithms to predict equipment failures months in advance and optimize maintenance operations. “The predictive maintenance sector is growing at double-digit rates worldwide,” said Arnaud Stiévenart, co-founder of I-care. “We now have the technology, the scale, and the global reach to play a leading role in this transformation.” I-care has earned recognition for its innovation, including the ADM 2024 Supplier Award for reliability services, the Factory Innovation Award at Hannover Messe, and the 2025 Solutions Award at The Reliability Conference. The company continues to expand its presence and impact, driven by a mission to redefine industrial reliability through intelligent, data-driven solutions. For more information, visit www.icareweb.com.