ProAxion, Inc., a North Carolina-based technology company, sold over $750,000 in a private stock offering, according to a Securities and Exchange Commission filing.

The company filed the Form D on Friday, and it did not disclose what it intended to do with the funds.

ProAxion brings products to market that will benefit machines and operations in the industrial industry through wireless sensors, cloud-based analytics and mobile communication technology.

The company is also helping to define the Industry Internet of Things (IIOC) by building applications and products that companies need to lower cost and improve reliability.

Its latest product, TACTIX, is designed to remotely monitor the health of rotating machines, including motors, gearboxes and pumps.

ProAxion is co-founded by Justin Rothwell and Elliot Poger. Rothwell has 20 years experience designing, commissioning and servicing industrial machines, while Poger’s experience lies in software engineering.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The file can be found here.