Augury, the company specializing in artificial intelligence applied to the health of machines and industrial processes, has closed a new round of financing of 75 million dollars, consolidating its position as the main player in predictive maintenance and process optimization in the manufacturing industry.
Strategic investment to scale industrial artificial intelligence
The investment round was led by Lightrock, with participation from key investors including Insight Partners, Eclipse, Qumra Capital, SE Ventures, and Qualcomm Ventures. With this funding, Augury maintains its valuation above $1 billion , standing out as the only “unicorn” startup in the manufacturing healthcare sector.
Since its last fundraising in 2021, the company has achieved accelerated growth, increasing its revenue fivefold and its customer base among Fortune 500 manufacturers threefold. Its portfolio has expanded from asset reliability to the incorporation of advanced AI solutions for the optimization of production processes.
The role of AI in industry 4.0
Augury solutions have redefined reliability in manufacturing, reducing machine failures through predictive maintenance technology with 99.9% accuracy . This efficiency translates into 5-20x ROI for its customers, improving profitability and reducing environmental impact.
Augury is at the forefront of digitizing equipment maintenance with AI-powered solutions that improve profitability, sustainability performance and energy savings.
Commented Ashish Puri, Partner at Lightrock.
Aiming to accelerate its growth, Augury has brought on Elan Greenberg as its new Chief Operating Officer. Greenberg, who has held key positions at Flock Safety and DoorDash, will join the team to strengthen the company’s global expansion and optimize its operational execution.
Augury’s platform has now analysed over 500 million hours of machine data in over 40 countries, achieving a reduction of up to 37% in process waste and a 2% improvement in energy efficiency per plant. It is estimated that by 2040, its technology will contribute to reducing up to 3 million tonnes of CO2 annually.
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Source: Augury
Photo: shutterstock
