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Augury raises $75M at $1B+ valuation for its AI that detects malfunctions in factory machines
As companies like Nvidia and SoftBank make industrial robotics into a key focus for future R&D, a startup has raised funding today for another facet
As companies like Nvidia and SoftBank make industrial robotics into a key focus for future R&D, a startup has raised funding today for another facet of how AI is being used on the factory room floor. The company to date has monitored more than half a billion hours of machine operations, covering a wide variety of equipment manufacturers and processing. Augury’s raise comes on the heels of a strong wave of business since it last raised money in 2021, with revenues growing five-fold from customers that include major manufacturing companies like PepsiCo, Nestle, and Dupont, as well as a long list of companies in the gas and energy sector by way of a partnership with Baker Hughes, one of its strategic previous investors, which is a major services provider to the energy sector.
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