As companies like Nvidia and SoftBank focus on industrial robotics as key areas for future R&D, a startup has raised funding today for another facet of how AI is being used on the factory room floor. Augury, which develops AI-based hardware to identify when machines need repairs and what is wrong with them, has raised […] © 2024 TechCrunch. All rights reserved. For personal use only.
Augury, an AI company specializing in predictive maintenance for industrial machinery, has secured $75 million in funding at a valuation exceeding $1 billion. The company's technology utilizes sensors to monitor factory machines, enabling early detection of malfunctions. CEO Saar Yoskovitz emphasized Augury's extensive dataset, which includes over 20,000 pumps, providing a competitive edge. The round was led by Lightrock, which prioritizes sustainability, viewing Augury's solution as both productive and eco-friendly by extending machinery lifespan. This investment underscores the growing interest in sustainable industrial solutions within the tech sector.
