COLUMBUS, OH, Nikola Labs announced it closed $20 million in financing. Led by G2 Venture Partners and joined by Triangle Peak Partners, the Series A Preferred financing is Nikola Labs' first institution-led growth round and brings total funding to $41 million to date.

Nikola Labs simplifies proactive maintenance and eliminates unplanned downtime for global manufacturers. A leader in sensor-based reliability solutions, its rapidly deployable, full-service, remote monitoring solution monitors the health of critical manufacturing equipment through a network of wireless sensors while machine learning and certified vibration experts analyze the data and create prescriptive and predictive maintenance alerts so machines can be repaired before failure. A spinout of The Ohio State University, Nikola Labs was founded in 2014 and was the first company launched by the Ikove Startup Nursery.