Siemens is acquiring UK industrial AI startup Sensye to boost its predictive maintenance and asset intelligence services.
The global industrial analytics software company is based in Southampton and has raised $19m (€18m) in funding from investors including NTT DOCOMO Ventures and the Sony Innovation Fund in Japan as well as MMC, Breed Reply and IQ Capital. The terms of the deal were not disclosed.
Senseye developed machine learning and artificial intelligence signal monitoring software that enables predictive maintenance, helping to reduce unplanned downtime. The industrial AI system can integrate with existing and new infrastructure investments, using machine, maintenance, and maintenance operator behaviour data to understand the future health of machinery and what requires human attention. The solution is designed for maintenance operators and requires no previous background in data science or traditional condition monitoring.
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This enables a reduction in unplanned machine downtimes by up to 50%, increased maintenance staff productivity by up to 30%, says Senseye, which is now part of the Customer Services Business Unit of Siemens Digital Industries. The company had already partnered with Siemens, as well as Bentley, Schneider Electric and PTC and electronic component distributor RS.
“Senseye’s AI based solutions complement our digital services portfolio driving efficient and scalable predictive maintenance. This will allow us to offer highly flexible solutions to help our customers across many industries to determine the future condition of their machinery and hence, increase their overall equipment effectiveness,” said Margherita Adragna, CEO of Customer Services for Digital Industries at Siemens AG. Senseye will be a subsidiary of Siemens holdings plc in the UK, which is a different entity from Siemens UK.
“Together we can multiply the full potential of Senseye’s innovative predictive technology and deep expertise. Siemens’ global presence and extensive industrial knowledge will ensure that our current and future customers benefit from innovative, seamlessly integrated Industry 4.0 solutions to drive measurable business outcomes,” said Simon Kampa, CEO of Senseye (above).
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The technology is similar to that developed by Cartesiam (now part of STMicroelectronics) and Reality AI (now part of Renesas Electronics) as well as Samotics, NNaisense, Sensiron and the Xerox Parc spinout Novity.
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