I-care Becomes a Unicorn

The Belgian company has surpassed the billion-euro valuation mark following a $23.2 million fundraising and refinancing round.

MONS, Belgium–(BUSINESS WIRE)–I-care announces the completion of a $23.2 million fundraising and refinancing operation, carried out as a round reserved for existing shareholders and employees. Based on this operation, the group’s valuation reaches €1 billion ($1.16 billion), making I-care a unicorn.

“Becoming a unicorn is a symbolic milestone. To achieve this, we chose to invest before reaping the rewards: we bet on AI when few believed in it, we prioritized R&D, and we built our own production unit. These choices were sometimes difficult, but they were essential to staying ahead of the game. Today, our results confirm that this strategy was the right one,” explains Fabrice Brion, CEO of I-care.

This fundraising round is the first step in a three-phase development plan. Following the “Eau Rouge” operation in 2022, which enabled I-care to become the world leader in predictive maintenance, the company has now set itself a clear objective: to accelerate its growth in order to increase its market share.

The second phase of this plan will be launched in 2026 and will aim to attract external investors.

The third phase corresponds to an initial public offering, which I-care decided to postpone last spring.

In twenty years, I-care has transformed an entrepreneurial adventure that began in Mons, Belgium, into an international group. Today, the company reports consolidated annual revenues of over $116 million, an order book worth more than $232 million, and a workforce of over 1,000 employees. Over the past eight years, I-care has also pursued a strategy of external growth, acquiring and integrating eight companies, several of which are based abroad.

Since launching production of its new-generation sensors and rolling out the Wi-care as a Service model, an all-in-one subscription-based solution, I-care has been recording strong growth. The group’s Industry 4.0 manufacturing facility now enables rapid volume increases, with an announced production capacity of up to 2,000 sensors per day. The AI-based I-see platform monitors more than 150,000 sensors to anticipate failures and optimize maintenance operations for customers.

“The predictive maintenance sector is growing at double-digit rates worldwide. I-care now has everything it needs to play a leading role in this market,” says Arnaud Stiévenart, co-founder of the group.

About I-care :

The I-care Group is a global leader in predictive maintenance, monitoring hundreds of thousands of industrial machines worldwide with advanced technologies—including our own Wi-care vibration sensors.

Our mission is to change the way the world performs. I-see, our AI-driven platform, integrates effortlessly with I-care solutions and external systems thanks to its open API. It gathers data from all PdM techniques, delivers equipment failure prediction months ahead, and feeds external systems with essential insights to optimize maintenance operations.

Founded in 2004 in Belgium, I-care employs more than 1000 people, operates 36 offices across 16 countries (Asia-Pacific, EMEA, and the USA), and delivers worldwide expertise in reliability and predictive maintenance to customers in more than 55 countries.

I-care has won several awards for its innovations, including ADM’s 2024 Supplier Award for reliability services, the Factory Innovation Award at Hannover Messe, and the 2025 Solutions Award at The Reliability Conference. For more information, visit www.icareweb.com.

Contacts

Press: Florence Neirinckx 0498/63.51.96