Startups of Future Hub: Meet Industrial Analytics
Industrial Analytics: revolutionizing maintenance for machinery and industrial processes
Industrial Analytics offers an advanced Software-as-a-Service (SaaS) solution to monitor turbomachinery and processes for industrial customers. The company’s founders previously worked for several years at MAN Diesel & Turbo, a turbomachinery manufacturer. So having extensive experience in the field, the team aims to reduce their clients' monitoring expenditure, maintenance cost, and unplanned downtime while simultaneously improving performance.
The vertical solution developed by Industrial Analytics, especially for large turbomachinery, covers both data acquisition and pre-processing, as well as the integration into an existing IT infrastructure and data evaluation. The main innovation of this solution is the integration of acoustic and vibration signals, as well as the use of physical models of machines and plants. With the “TurboMonitor”, operators can reduce their operating costs by operating their plants more efficiently and optimizing maintenance and repair.
With regards to competitors, the product of the Industrial Analytics team produces fewer false alarms, making use of acoustic and vibration sensors, as well as advanced physical models. The analytics can be integrated into any IoT platform.
Worth your attention
For a startup, Industrial Analytics already has an impressive and quite extensive accomplishment list. We have highlighted a couple of outstanding facts we couldn't simply keep to ourselves:
Back in 2019, Industrial Analytics successfully closed their seed funding round, seeing a seven-figure amount.
Back in 2020, the team was among the winners of Deutsche Bahn Mindbox Challenge
Recently, Industrial Analytics was chosen to participate in the K-Startup Grand Challenge, one of the largest accelerator programs which aim to turn Korea and Pangyo Creative Economy Valley into a global startup hub in Asia.
Industrial Analytics in Future Hub
"We have got an idea and it appeared that Industrial Analytics already realized that idea in their app. It was perfect match! From first meeting it was clear that we can reach first results quite rapidly. It is best option when you want to try out new ideas and test them in a field without wasting months for preparation," shares Romans Oleksijs, Senior Electrical Engineer at Latvenergo.
The Industrial Analytics team together with Latvenego are working on a pilot solution for one of the challenges that Latvenergo proposed for the Future Hub program - digitization of electricity production facilities. To find out what shape the final solution takes, make sure to attend the Future Hub Demo Day on December 16. More information to follow, stay tuned!