The momentum continues as Falkonry raises a new round of investment led by Hypertherm Ventures
SUNNYVALE, Calif.–(BUSINESS WIRE)–Falkonry, the innovation leader in Operational AI, today announced that it has been named to JMP Securities’ Efficient Fifty list for the third year in a row. The report profiles fifty private companies driving innovation and efficiency across the energy and industrial sectors. Falkonry was one of only three companies selected in the analytics space.
“Driving improved safety and efficiency for industrial operations is a key theme in this year’s Efficient Fifty Private Company handbook. Falkonry is a leader in using predictive analysis to help companies achieve operational improvement,” said Joseph Osha, Managing Director and Senior Research Analyst at JMP Securities. “We believe that better product quality, safer operations and less downtime are all important paths to reducing the impact that industrial processes have on our environment. With that in mind we are pleased to once again include Falkonry in the Efficient Fifty.”
This continued recognition as a key industrial tech innovator comes on the heels of a new strategic investment into Falkonry led by Hypertherm Ventures, the corporate venture capital arm of Hypertherm, a leading U.S. based manufacturer of industrial cutting systems and software. Existing investors also participated in this round.
“With fifty-two years and more than 500 global patents, Hypertherm has unparalleled expertise and commitment to advanced technology development in industrial manufacturing,” said Nathan Pascarella, Director at Hypertherm Ventures. “We selected Falkonry from dozens of industrial analytics companies as we see them as a major enabler of success in industrial transformation. Falkonry’s Operational AI-based digital solutions have the potential to provide next generation reliability and operational excellence and we look forward to supporting the team as they create a lasting impact on discrete manufacturers.”
Falkonry has defined the Operational AI category and provides verticalized AI for industrial operations in the form of early warning alerts, failure mode identification, root cause explanation, novel condition discovery, and event horizon estimation. Falkonry Operational AI solutions have been validated and deployed in production by steel producers, pharmaceutical manufacturers, food producers, energy providers and within the Department of Defense (DoD).
Dr. Nikunj Mehta, Founder and CEO of Falkonry, ex-C3 AI VP of Customer Success, said, “The extreme demands of a pandemic brought to the fore the benefits and need for industrial transformation.” Together with CTO Dan Kearns, another ex-C3 AI engineering leader, Falkonry is creating an intelligent information system to digitally transform industrial operations with evidence-based workflows and tacit knowledge capture. “This is an exciting phase in the growth of Falkonry, both in the commercial and government sectors, with demonstrated success in scaling digital adoption across plants and fleets. We are privileged to partner with Hypertherm to create truly transformative solutions for the discrete manufacturing space,” Nikunj added.
About Hypertherm Ventures
Hypertherm Ventures is the corporate venture capital arm of Hypertherm, and globally scouts and seeks out entrepreneurs and early-stage companies who are commercializing technology within our strategic interest areas of AI/Machine Learning, Industrial IoT, Robotics & Automation, Additive Manufacturing, Industrial Cutting, and Advanced Materials. Working together, we help advanced manufacturing deliver positive change to the world.
Falkonry enables predictive operational excellence for manufacturing and defense organizations by detecting and predicting events before they impact operations. By applying AI on real-time operational data from plants and field systems, Falkonry solutions deliver significant improvement in production uptime, quality and yield without requiring data scientists or data engineers. Falkonry products easily scale across the enterprise either on-premises, in the cloud or at the edge, and are optimized to run on major cloud platforms including Microsoft Azure and AWS. For more information on Falkonry predictive operations, please visit falkonry.com
phone: +1 669 268 4812