Startup gets funding for waveform condition monitoring
The company uses electrical data, alone, to remotely monitor the health and performance of industrial machinery. It applies data capture techniques and machine learning algorithms to electrical waveforms in industrial machines to continuously monitor rotating equipment health, gain real-time insights into operating performance, and to proactively predict failures.
“Veros is working to allow industrial motors to talk,” says Jim Dechman, Veros president and CEO. “With over 50,000,000 motors running every minute of every day, this new information will help factories run more efficiently and reliably, all with no new sensors.”
Nearly every industrial machine produces an electrical signature, says the company, either by consuming or generating electric power. That electrical signal is continuous, producing rich data that can be used for predicting future issues with the machinery.
Using edge measurements and processing, the company combines electrical waveform data with machine learning and AI-based algorithms – leveraging over a decade of historical and event data – to provide predictive insights into machine operation and health, making the Industrial Internet of Things (IIoT) a reality, says the company. Last year the company announced that Veros monitoring will be deployed with new shipments of Siemens Large Drive Applications (LDA) solutions, which offer heavy-duty electrical drive systems for medium- and high-voltage range electrical motors, converters, and generators.
Scott Conner, general manager, Siemens Medium Voltage Drives says, “Siemens envisions a future of utilizing existing variable speed drives and other power distribution equipment to not only provide power to the world’s motors, but to continuously monitor industrial equipment performance and health.”
Veros has installations at customers including Anadarko, Chevron, NRG, Samsung, and Shell. Currently, says the compay, five of the Siemens LDA installations are monitoring subsea pumps at Shell’s Perdido Gulf of Mexico spar (see “Picking Up Distress Signals From Far Away“).
Shell Ventures led the latest financing round that included existing venture capital investors Austin Ventures, Chevron Technology Ventures, and LiveOak Venture Partners.
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