Augury Company from Haifa has completed a $180M fundraising, based on $1 billion company value. Current round raises the company’s total fundraising to $286M. The round was led by Baker Hughes, one of the biggest global providers of services and equipment for the gas & oil industry, with more than a $20 billion revenues in 2020. Following the investment, Baker Hughes will take a seat in Augury’s board of directors, and will also incorporate Augury’s platform into its operational systems. New investor in the current round is SE Ventures, the corporate venture arm of Schneider Electric.
With $200M in cash, Augury will use it to globally expand its operation and enter new fields such as the energy sector. The company was founded in 2014 by CEO Saar Yoskovitz and CTO Gal Shaul. Company’s headquarters is located in New-York, while its R&D center is in Downtown Haifa. Augury’s platform monitors industrial machines’ mechanical state using various sensors, including vibration, temperature and magnetic sensors.
The information gathered by the sensors is collected continuously, transmitted to the cloud and analyzed by artificial intelligence algorithms combined with operational and mechanical models. The analysis in the cloud compares between the data collected from current machine’s state and historical data regarding current machines and other similar ones. This analysis provides insights regarding abnormal patterns which might indicated machine malfunction, flaw or depreciation. Also, the system produces recommendations as for the optimal methods of locating and fixing the issue. Augury’s customers include Heineken, Tnuva, Danone, Bosch Health, Nestle, Nefco and more.
The industrial cyber security company Waterfall Security announced an expansion into the Asia Pacific (APAC) region with the opening of a Waterfall office in Singapore. Waterfall stated that the Singapore expansion reflects the company growing customer base in the region, with the office strategically located to support the Philippines, Hong Kong, Taiwan, Vietnam and other countries in the region. The Singapore office will support local sales, marketing, and partner programs, and will support the growing need for local and native customer and technical support.
Founded at 2008, Waterfall has developed a unidirectional cyber solution, consists of both hardware and software, which offers bulletproof protection for operational networks (OT) in industrial facilities against remote cyber attacks. The hardware component is installed between the operational network (OT) and the external network (IT). A single one direction optical fiber connects the two, thus creates a Unidirectional Security Gateway allowing data to move only outward but not into the industrial network itself.
This hardware creates a physical barrier that isolates the network. When a user uses the analytics systems, he does so in a replicated cloud. Waterfall employs approximately 100 employees in Israel and the US. According to the company it has a few thousands of customers, mainly from the Energy and Electricity, Gas and Oil, Water and Chemicals sectors.
The AI-based Machine Health solution provider from Haifa, Israel, has secured $55 million growth funding round led by Qumra Capital and with participation of existing key investors, including Insight Venture Partners, Eclipse Ventures, Munich Re Venture Capital and Qualcomm Ventures. With this round Augury has raised $106 million since its initial funding six years ago.
Augury provides AI-based Machine Health solution for the Industry 4.0 production floor using vibration, ultrasound and other types of sensing technologies to detect equipment malfunctions and provide detailed recommendations for maintainanace. Its algorithms use vast amounts of collected data from over 40,000 machines to build a model of how malfunctioning equipment behaves.
Augury’s customers include manufacturers such as Hershey’s, Colgate-Palmolive, Essity, Heineken and ICL. The comapny said it ihas more than tripled its revenue n the past year. The new funding will finance the expansion of its engineering and development teams in Israel as well as its services and sales teams around the globe.
Earlier this month, ICL announced the expansion of its AI-based Machine Health program with Augury. ICL is a global manufacturer of products based on unique minerals. It said that Augury’s first installation of Machine Health solution saved ICL more than $1,000,000 in production losses and downtime costs in only 10 months. As a result ICL will implement this technology across all of its factories located in Israel, Europe, North and South America.
The Israeli 3D Signals, which has developed a solution for digitization of manufacturing facilities, a strategic partnership with the German based Rothenberger Group, a producer of pipe tools and pipe machining tools. The group has selected the 3d Signals Asset Performance Monitoring solution for the digitization of its production floor. The 3D Signals sensors and edge computer will be installed on critical assets in order to collect real-time data for the improvement of machine availability and productivity.
Founded in the late 1940s, Rotenberger Group currently constitutes of about 65 companies and factories for the production of equipment, machinery and parts for the plumbing and pipe industry.Its revenues in 2019 amounted to 350 million Euros and it employs about 8,000 employees.3D Signals estimates that the partnership may lead to the installation of its sensors in thousands of machines across the group’s affiliates facilities.
3D Signals’ VP Marketing, Danya Golan, told Techtime that it seems the industry has recovered from the initial shock of the Covid-19 eruption. “We are seeing an increasing demand for digitization in the manufacturing sector, as more and more production floors managers acknowledge the importance of real-time production data to streamline and successfully adapt to changes in demand and prices, especially when the production is required to be managed remotely during lockdown.”
3D Signals was founded in 2015 and has raised $26 million to date. It has developed a plug & play machine digitization solution that enables machines to be network connected in just a few hours. Using non-invasive sensors, such as a current transformer or an acoustic sensors and an edge data acquisition system, its solution collects signals from the machine and generates valuable insights on a cloud-based monitoring system, complete with live views, reports and alerts.
Photo above: Installing 3d Signals’ sensor in a production line. The digitization begins with data collection
The Kfar Saba-based (near Tel Aviv) 3d Signals, which has developed a solution for digitalization, monitoring and analytics of manufacturing machines, has reported that since the beginning of 2020 it had increased its installing base in Europe, and especially in Germany. Germany’s industrial sector is prominent in the production of heavy machinery, automotive, electronics, engineering and chemicals – and is ideal candidate for 3d Signals’ solutions.
The German industry constitutes the company’s main target market, where it is active via a local subsidiary located in the Frankfurt area. 3d Signals’ VP of Marketing, Danya Golan, told Techtime that COVID-19 crisis strongly affected business continuity in many factories, who urgently needed remote managing capabilities. “During the crisis, we have generated new customers in Europe and are providing them with online support,” she said.
The pilot program led to a new direction
3d Signals was founded in 2015 and has raised $26 million to date. The company was recently selected to participate in the prestigious Technology Pioneers program of the World Economic Forum. It started by developing a platform for forecasting malfunctions in industrial machines, based on external acoustic sensors. The solution aroused great interest in the industry, but a pilot program with industrial partners proved to be a disappointment: The insights it had produced gave only limited value to the production managers.
Danya: “Predictive maintenance is today a big buzz in the industry, but sometime the value of these tools is quite limited. Our system, for example, knew which component was going to break down in which machine. It was very impressive, but it did not contribute much to the ongoing operation of the entire production line”.
Following lessons learned, the company recalculated its vision, and transformed itself from sensor-oriented to system-oriented provider. It abandoned the focus on acoustic sensors and malfunction prediction, and adopted a digital approach to allow factories to transform themselves from “stupid” factories to “smart” ones; a system suitable for any production machine, regardless of model or role of its independent units.
The “Smart Factory” is not so smart
The term ‘Industry 4.0’ has been around for several years, but is far from being wide spread. According to Cisco, less than 10% of the tens of millions of manufacturing machines in the world are connected to a communications network. “Without digitization, there is no basic infrastructure that allows for visibility, and there’s no data to operate Artificial Intelligence and Deep Learning algorithms or any other kind of analytics.”
Unlike other solutions in the market, than can be very costly and complex, 3d Signals works with an unobtrusive platform based on external sensors which are easy to operate and to install. In fact, it takes less than an hour to complete a full connection of an industrial main machine. “Even basic information is sufficient to make a significant change. We monitor the machines from the outside by using sensors such as a current transformer or an acoustic sensor, to learn whether or not the machine is functioning.
“Within 48 hours of the installation, there is a unified monitoring dashboard for the entire factory. Today our technology is focused on the algorithms and presentation of information in such a way that both the CEO and the floor manager can understand. Our data shows that our customers had improved their output by 30% within 3 months of launching the platform.”