//

Flutura’s platform Cerebra provides diagnostics and prognostics through machine learning and artificial intelligence to unlock new business value for engineering and energy customers

Industrial IoT

Flutura Decision Sciences and Analytics, an Industrial Internet-of-Things (IIoT) company based out of Bangalore, has secured US$7.5 million in Series A round of funding, led by Vertex Ventures.

US-based VC firm Lumis Partners, besides existing investor and Big Data-focussed early-stage fund The Hive have also participated.

IIoT incorporates machine learning and Big Data technology, harnessing the sensor data, machine-to-machine (M2M) communication and automation technologies that have existed in industrial settings for years. The driving philosophy behind the IIoT is that smart machines are better than humans at accurately, consistently capturing and communicating data.

Also Read: 6 top B2B-focussed IoT startups in India that you should meet

Founded in 2012, Flutura provides mission critical insights to drive industrial outcomes, based on its capability to interpret machine signals from connected assets and connected processes. The startup is catering to various industries, including oil and gas (to quantify safety risk to ensure sustainable zero unsafe behaviours and conditions), utilities (to identify root cause of AT&C losses, grid inefficiency and make it visible at the last mile), smart buildings (for better asset management leading to energy efficient buildings), and heavy industries (for asset optimisation and predictive maintenance to improve performance and life of assets)..

Its flagship software platform, Cerebra, provides diagnostics and prognostics through machine learning and artificial intelligence to unlock new business value for engineering and energy customers.

Krishnan Raman, CEO and Co-founder, Flutura, said: “We believe that the industrial sector is at an inflection point where digitalisation is disrupting fundamental process/product design, transforming business models. This investment round for us is not just about money, but having experienced and strategic global partners like Vertex and Lumis bolster the existing team help us in our core focus industries of energy and engineering.”

With operations in Palo Alto, Houston, Tokyo and Bangalore, Flutura serves companies like Henkel, Stewart and Stevenson and Sodexo. It has also established partnerships with the likes of Intel and Hitachi for product and market access support.

Rohit Bhayana, Managing Partner and Co-founder, Lumis Partners, said, “Flutura, in a short span since founding has accomplished a very mature solution-set for the Industrial IoT space. The solution relevance is clearly visible, from the global traction it has garnered, and the value adding use cases it has powered. Lumis, as a firm focused on the intersect of Operating Technology & Manufacturing, is excited to be associated with Flutura in this fabulous journey.”

Flutura had earlier received a seed fund from The Hive, who is focused on the Big Data and analytics space.
—
Copyright: cheskyw / 123RF Stock Photo

The post Flutura raises US$7.5M Series A to provide industrial IoT to engineering, energy firms appeared first on e27.

from e27 http://ift.tt/2l5rfvQ