The Mons-based company I-care has announced it has reached a valuation of €1 billion following a €20 million funding round and refinancing.
This milestone officially makes I-care a "unicorn" — a term used to describe privately-held innovative companies valued at over $1 billion (€853.8 million).
Fabrice Brion, CEO of I-care, described the achievement as symbolic. He attributed the company’s success to strategic choices, such as focusing early on artificial intelligence despite initial scepticism, prioritising research and development, and establishing its own production unit. While these decisions were challenging, Brion stated they were crucial to staying ahead of competitors.
The €20 million funding marks the first phase of I-care’s structured development plan, which is divided into three stages. Phase one follows the “Eau Rouge” operation in 2022, which positioned I-care as the global leader in predictive maintenance. The next phase, set for 2026, aims to attract external investors. The third phase involves an IPO; however, the company decided earlier this year to delay this process.
Over its 20-year journey, I-care has evolved from a small business in Mons to an international group. It now reports consolidated annual revenues exceeding €100 million, holds an order book worth over €200 million, and employs more than 1,000 staff.
I-care is a global leader in predictive maintenance, monitoring hundreds of thousands of industrial machines worldwide with advanced technologies like its Wi-care vibration sensors.
