With the world relying more and more on manufacturing, downtime is becoming an increasing problem. Industrial manufacturers lose around $50 billion each year due to unplanned downtime in their plants - this causes delays which lead back to lost productivity and unhappy customers. Fortunately, the Czech company Neuron soundware has developed a new product that aims to address one of the industry's biggest challenges- Predictive Maintenance.
Sound analysis of the machines enables Neuron soundware to detect imminent failures that would mean costly repairs and production outages. The technology is based on an amalgamation of artificial intelligence built with neural networks, Machine Learning, and IoT device nBox, which receives and processes the data from sensors.
This newest innovation in the world of predictive maintenance powered by Neuron soundware uses the sounds from machines to predict when they'll break down. This new cutting-edge technology has been tested by leaders from different industries, including Prague Public Transport Company, Airbus, Siemens, and BMW - and it's proven to be successful every time.
Neuron soundware's innovative solution is a unique player in the field of automated predictive maintenance with a potential turnover of up to 65 billion euros per year. Moreover, this technology also has excellent possibilities for spreading to other industries, which would mean even more savings for the manufacturing industry.
As the IoT revolution continues to grow, so do the number of potential use cases for this technology. One area where there is a vast opportunity for innovation is in predictive maintenance using sensor data combined with Machine Learning algorithms to identify when an asset needs attention before it fails.
Traditional solutions are often expensive and difficult to install, which makes them impractical for many companies. Neuron soundware has developed a solution that offers an affordable, easy installation and 24/7 monitoring through its innovative HW solution, which uses IoT sensors and data processing at the installation site.
Neuron soundware has acquired necessary certifications that enable it to provide its solution even for explosive environments. This new certification has made it easier for companies to utilize the software without having to worry about workers being exposed to hazardous areas or production outages. Moreover, the company has been developing its software, including in-house artificial intelligence, to expand the reach of services.
The AI company was ranked among the DCASE Top 10 AI-powered audio diagnostics in 2020 and 2021. Moreover, the company has been ranked as one of the Top 5 innovators in the world for IoT devices in 2021. The Vodafone Idea of the Year award is given to projects that are innovative, creative, and have the potential for growth. Neuron soundware's project combining IoT and AI won this prestigious prize in the very first year of its inception. Furthermore, Neuron soundware has been classified as "Cool Vendor in Acoustic Technologies for Predictive Maintenance" by Gartner in 2018.
Recently, Neuron soundware raised a total of €6,35 Million from J&T Ventures, Lead Ventures, and Inven Capital. The company is aiming to scale up its business by leveraging its high-end technology. It is looking for strategic partners intending to become a global leader in predictive maintenance with its power of Machine Learning and AI. Besides being open to any investment from the potential partner, it is also willing to offer an equity stake or other type of long-term partnership.
The founder of Neuron soundware, Pavel Konečný, has over 11 years of experience in consulting and was able to achieve this through his work at Accenture where he helped clients such as T-Mobile and Vodafone grow. After studying cybernetics and biomedical engineering at CTU, Pavel founded the startup that would eventually become known around Europe due to its cutting-edge technology.
Neuron soundware has grown to be one of the very few predictive soundware providers working with some big names like Airbus, BMW, Siemens, E.ON, MOL, Daimler, Volkswagen, and Bosch. Currently, Neuron soundware employs more than 30 people and operates across Europe, Asia, and North America.