This paper deals with the early detection of fault conditions in induction motors using a combined model- and machine-learning-based approach with flexible adaptation to individual motors. The method is based on analytical modeling in the form of a multiple coupled circuit model and a feedforward neural network. In addition, the differential evolution algorithm independently identifies the parameters of the motor for the multiple coupled circuit model based on easily obtained measurement data from a healthy state. With the identified parameters, the multiple coupled circuit model is used to perform dynamic simulations of the various fault cases of the specific induction motor. The simulation data set of the stator currents is used to train the neural network for classification of different stator, rotor, mechanical, and voltage supply faults. Finally, the combined method is successfully validated with measured data of faults in an induction motor, proving the transferability of the simulation-trained neural network to a real environment. Neglecting bearing faults, the fault cases from the validation data are classified with an accuracy of 94.81%.