Plutoshift Procure $8 million In Series A Funding
The new investment will be used to expand the technology behind Plutoshift’s cloud-based solution, and will also combine process metrics in real-time from myriad data sources.
FREMONT, CA: The leader in data intelligence for industrial processes, Plutoshift, has secured an eight million USD Series A round from proven institutional and individual investors.
Plutoshift is offering a unified window into manufacturing operations through highly sophisticated software that leverages Artificial Intelligence to drive proactive insights. It has also developed a specialized view of process performance for industrial companies. At first, the organization is concentrating its platform on manufacturers with an essential dependence on water in their procedures. Plutoshift has named it 'Business Water'.
The new venture will be utilized to extend the technology behind Plutoshift's cloud-based solution, which is intended for groups to track, anticipate, and impart decisions and the effectiveness of necessary physical assets and procedures utilized in manufacturing.
Plutoshift strengthens industrial organizations to have a comprehensive perspective on key cost drivers and resources that affect their business by opening bits of knowledge from existing information sources continuously. This methodology permits administrators and managers inside manufacturing organizations to remain better educated and make a proactive move.
The founder and CEO of Plutoshift, Prateek Joshi, say that the use of significant resources to handle water in industrial applications is quickly becoming one of the biggest challenges in manufacturing. They are focusing on applying both Artificial Intelligence and industry expertise in tackling the problem.
Plutoshift is bringing the power of performance checking to the physical world by driving practical use cases in the industrial area through an agenda called ''Grounded AI''. The primary goal of ''Grounded AI'' is to implement Artificial Intelligence, enhance existing data systems, unlock its value, and surface valuable information to make the data immediately actionable.
A group of entrepreneurs in manufactured products and astute angel investors are participating as new investors in the Series A round. The group includes Dave Gilboa, co-founder of Warby Parker, Joey Zwillinger, co-founder of Allbirds, and Nat Turner, co-founder of Flatiron Health.
Founded in 2016 by Prateek Joshi aims to provide an unprecedented level of information access to operators and managers.