Industrial AI digital twin startup raises $25m to scale up
OnePredict in South Korea has raised KRW 30 billion (US$25m) to roll out its industrial digital twin AI technology with key partners.
The Series C funding comes from new industrial investors LG Energy Solution and GS Power as well as LB Investment, Korea Development Bank (KDB), DAOL Investment, Shinhan Bank and KB Securities. They join Stonebridge Capital and Atinum Investment to bring the total investment to $40m.
The flagship digital twin software, called GuardiOne, provides high accuracy monitoring of the health of equipment by measuring noise, vibration, electric current and temperature. It can then predict failures in advance through the company’s algorithm. This is focussed on manufacturing, energy, power distribution, oil and gas and semiconductor industries.
OnePredict has also launched a version for industrial motors, and plans to expand into North America, the Middle East and Southeast Asia.
“The Series C funding is the result of proving the effectiveness of our solution applied to various industrial sites, and a testament to our customer’s trust in our potential. As we have had an edge in various indicators so far, we will do our best to leap into being a global unicorn as an industrial AI company representative,” said Ethan Lee, Chief Operating Officer of OnePredict.
“OnePredict’s predictive maintenance technology has demonstrated differentiated capabilities based on its overwhelming technology. Now, it is expected that its AI solutions will lead the digital transformation of the global energy and manufacturing industries,” said Seongin Oh, Chief Executive Officer of LB Investment which led the round.
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