Menu

The Industrial Internet of Things FEATURE NEWS

Alchemy IoT Launches with $4 Million Seed Funding for AI IIoT

By Ken Briodagh December 13, 2017

With a recent announcement, Alchemy IoT, a provider of IoT Asset Intelligence for industrial applications, has launched with $4 million seed funding from Aweida Venture Partners and several angel investors.

The startup’s cloud-based application, Clarity, is designed to help customers achieve a greater return on their industrial assets and competitive advantage. The product introduces a “no-code” approach to IoT Asset Intelligence that reportedly simplifies how fleet management, plant maintenance and manufacturing performance can be improved using artificial intelligence and unsupervised machine learning.

Alchemy will focus on helping small- to mid-sized industrial customers overcome the technical and data-science resource mandates that are needed – and often unattainable – to deploy today’s expensive and highly complex IoT solutions.

“The promise of artificial intelligence, machine learning and industrial IoT are very real, but so too are the challenges smaller organizations face when trying to adopt and gain value from these new technologies,” said Victor Perez, CEO, Alchemy IoT. “Our mission is to make AI-powered IoT a ‘no-code’ proposition, one that any industrial company can quickly start and put to use to gain fast value. Too many of today’s IoT solutions require a massive budget and an extraordinary amount of customization to even getting started – we aim to disrupt and change that.”

Led by technology industry veterans from IBM, ABB, GE, StorageTek, Seagate and Sony Electronics, Alchemy says its industry approach is all about “IoT Asset Intelligence,” an AI-based method to quickly gain knowledge and ROI from industrial assets.  Through AI innovation, Alchemy aims to make data science available to small- to mid-market industrial customers by delivering a contextual view of operational and performance data – fast, and at a fraction of the cost of expensive, heavyweight, customized solutions. Its Clarity application creates a digital twin of industrial assets, allowing the full benefit of the internet to make industrial assets and data feeds easy to connect to its IoT cloud application.

“There’s no doubt that artificial intelligence and IoT will transform how companies operate and win in the industrial IoT market, and Alchemy has proven that it can make these technologies accessible smartly and practically,” said Jesse Aweida, general manager, Aweida Venture Partners. “I am very excited to support the Alchemy team as it moves to simplify and speed time-to-value for industrial IoT through its ‘no-code’ and application-specific approach that perfectly aligns with Industry 4.0 mega-trend approaches.”


Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

SHARE THIS ARTICLE
Related Articles

Wind Power: Wind River Empowers Developers with Enhanced Studio Capabilities for Mission Critical Intelligent Systems

By: Arti Loftus    4/16/2021

This month Wind RIver rolled out enhancements to what they describe as a pre-integrated, cloud-scale DevSecOps environment where developers can build,…

Read More

Industry Strength Security for the Industrial IoT: The Need for Speed, Safety, and Scale

By: Arti Loftus    4/15/2021

The Industrial Internet of Things (IIoT) is growing in size, sophistication, and sustainability, as billions of dollars of investment, are paying off …

Read More

Financing the Future of Sustainable Energy: Innovative Financing for Innovative Technologies

By: Arti Loftus    4/13/2021

AI using IoT sensors is becoming vital to control the costs and improve the quality of maintenance and field service across energy infrastructure, inc…

Read More

For Connected Industrial Systems, Cloud Governance and Data Management is Mission Critical

By: Arti Loftus    4/12/2021

Distributed industrial systems, edge data, sensors, and computing, and shipping data to the cloud or multiple clouds for analytics and other purposes …

Read More

As Infrastructure Spending is Anticipated to Grow, Controlling Engineering and Construction Costs is Mission Critical

By: Andrew Athanasian    4/7/2021

With a newfound interest in infrastructure investment and the introduction of a multi-trillion-dollar infrastructure bill by the current Administratio…

Read More