Menu

M2M FEATURE NEWS

Wheelings and Dealings: HSB Invest in Augury for Loss Prevention Through IoT

By Ken Briodagh November 10, 2015

IoT is a technology ideally suited to creating efficiencies throughout the industrial industry, and one of the areas of potential is loss prevention and asset management.

Hartford Steam Boiler (HSB), part of Munich Re, has announced that it has invested in Augury, a predictive machine diagnostics company that is bringing its proprietary algorithms, smart sensing device and mobile diagnostics tool heating, ventilation and air conditioning (HVAC) systems within commercial buildings.

Augury’s technology has the potential to save billions of dollars in maintenance and energy costs. In doing so, Augury is helping to create a much larger market for predictive maintenance and will has plans to expand its reach to diagnosing the IoT itself.

“HSB and Augury share a common core principle of helping our clients improve the operation of their equipment and preventing losses,” said Greg Barats, President and CEO, HSB. “Augury uses cutting edge technology and the Internet of Things to give its customers real-time information on equipment they can use now and when planning for the future.”

HSB's strategic corporate venture capital group has invested in Augury as part of a series of investments, which support HSB's strategy of combining advanced technology with its equipment breakdown insurance and engineering resources to help its customers manage risk.

Using vibration and ultrasonic sensors, Augury’s proprietary mechanical diagnostics platform listens to the sounds a piece of equipment makes and uses proprietary analysis and machine learning algorithms to determine if it is working properly or has a malfunction.

“Our diagnostic service makes predictive maintenance easier and more affordable for commercial buildings, hospitals and factories so HVAC contractors and regular maintenance staff can record the data and perform diagnostics,” said Saar Yoskovitz, CEO and co-founder, Augury.

Sounds good. 



Editorial Director

SHARE THIS ARTICLE
Related Articles

Sigfox Opens Radio Specifications for Connected IoT

By: Special Guest    2/15/2019

To celebrate the 8th World Radio Day earlier this week, and with the support of UNESCO, Sigfox publicly released the specifications of its radio proto…

Read More

How Is the IoT Impacting the Semiconductor Industry?

By: Special Guest    2/8/2019

In the coming years, as connected technologies become more sophisticated and widespread, semiconductors will be right there with us, making these leap…

Read More

Kontakt.io and Mist Systems Partner on IoT Solutions

By: Ken Briodagh    2/8/2019

Kontakt.io announced recently a partnership with Mist System to simplify the design, deployment, and management of IoT solutions.

Read More

MultiTech Joins CBRS Alliance to Promote Private LTE for Resilient IIoT

By: Ken Briodagh    2/8/2019

Multi-Tech Systems, a global supplier of M2M and IoT communication solutions, has joined the CBRS Alliance.

Read More

Securing Devices and Data, Dispersive Brings Programmable Networking to IoT, IIoT and Blockchain

By: Arti Loftus    2/6/2019

Last week at the IoT Evolution Expo, Rick Conklin, CTO of Dispersive Networks, weighed in on the potential of programmable networking to enhance the s…

Read More