Augury, a leading provider of AI-driven hardware for industrial machinery monitoring, has secured $75 million in funding. The investment will support the company’s mission to empower factories with advanced technology for timely machine repairs and optimized operations.
Augury’s AI technology leverages sensors to collect data on vibrations, sound, temperature, and other factors, creating a comprehensive database known as the “malfunction dictionary.” This dataset, spanning billions of machine operations, allows Augury’s algorithms to detect anomalies and diagnose potential malfunctions with unprecedented accuracy.
As industries grapple with supply chain disruptions, Augury’s technology offers a crucial solution. By identifying maintenance needs early, factories can minimize downtime, reduce equipment damage, and avoid costly repairs.
“We’ve witnessed a five-fold increase in revenue, and now serve major manufacturers like PepsiCo and Nestlé,” said Saar Yoskovitz, CEO and founder of Augury. “Our AI platform provides factories with invaluable insights, empowering them to optimize maintenance schedules and maximize production efficiency.”
The investment, led by Lightrock, underscores the growing recognition of Augury’s sustainability impact. By extending the lifespan of industrial machinery, Augury reduces waste and promotes a circular economy.
“Augury’s technology aligns with our focus on sustainable capitalism,” said Ashish Puri, a partner at Lightrock. “By extending equipment longevity, Augury contributes to a greener manufacturing ecosystem.”
Augury’s funding will fuel further technological advancements and customer expansion, cementing its position as a pioneer in industrial AI and predictive maintenance.
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