ABB, UptimeAI Join Forces to Advance Asset Health and Performance Management
ABB Motion has announced a strategic investment through ABB Motion Ventures in the AI start-up UptimeAI, aiming to transform how industrial customers manage the health and performance of motors, drives, and related assets. The transaction consists of ABB taking a minority stake in UptimeAI. Financial details of the investment were not disclosed.
The collaboration leverages machine learning and expert systems to provide customers with deep insights into asset performance, failure predictability, and reduction of maintenance costs and risks. With over 1,000 failure modes covered by advanced AI/ML algorithms, the partnership is set to deliver outstanding reliability and efficiency. It does so by leveraging next-generation asset performance management services driven by AI/ML predictive maintenance and proven industry expertise.
The initiative will initially focus on heavy asset industries, starting with addressing the needs of Cement, Metals, and Water Pipes sectors in India. By introducing tailored solutions for these critical industries, the partnership seeks to enable companies to achieve operational excellence, reduce unplanned downtime, and enhance overall productivity.
“Through this investment, we reaffirm our commitment to delivering innovative solutions that empower industrial customers to manage their assets effectively and sustainably”, said Soenke Kock, ABB Motion Services R&D Manager and Head of Development IoT and Analytics. “By joining forces with UptimeAI, we are applying advanced technology and expert knowledge to strengthen asset health and performance management. With reliable data insights, decision-makers are equipped to identify gaps, optimize energy efficiency, and exercise tighter control over operations, ultimately increasing asset availability and improving profit potential.”
“We are thrilled to partner with ABB Motion to deliver solutions that combine our expertise with their deep industry insights”, added Jagadish Gattu, Founder and CEO, UptimeAI. “By joining forces, we will optimize operations and address the unique challenges faced by industrial customers such as root cause analysis, continuous improvement, and knowledge management.”
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com
ABB Motion Ventures is the venture capital unit of ABB Motion. ABB through its business-led venture capital investment framework, ABB Ventures, looks for breakthrough technology companies aligned with ABB’s goal to write the future of industrial electrification and automation. Since its formation in 2009, ABB Ventures has deployed around $500 million into startups spanning a range of sectors including robotics, industrial IoT, AI/machine learning, energy transition, cybersecurity, electric mobility, smart buildings, and distributed energy. For more information, visit? https://global.abb/group/en/technology/ventures
UptimeAI is a San Francisco-based AI software company offering operational excellence capabilities via its AI Expert OEx platform. The company empowers engineers to solve operational issues faster by explaining the relationships between reliability, performance, and equipment to automatically diagnose the root cause and suggesting mitigations. Many global industrial customers have implemented UtimeAI's solutions across North America, the Middle East, and India. For more information, visit https://www.uptimeai.com/
A-303, Navbharat
Estates,
Zakaria Bunder Road,
Sewri (West), Mumbai - 400 015,
Maharashtra, India
+91-22-24193000
Subscriber@ASAPPinfoGlobal.com