Industry 4 0 Gets Its First Unicorn
The deal comes amidst a pandemic-driven disruption in manufacturing and supply chains, which VCs have taken keen notice of. Something on the order of $45.1B has been raised by industrial start-ups so far this year, compared with the $34B raised in all of 2020, according to PitchBook. Augury’s wireless sensors and cloud platform monitors the “vitals” (like temperature and vibration) of critical industrial equipment. AI is used to compare them to a database of over 80K+ machine sounds so that faults can be detected before they cause downtime....