Praemo
Canvas Category Software : Information Technology : Asset Performance Management
Shifting from traditional operating and business models to one that exploits the IIoT and advanced tools like AI is critical to remain competitive in a data driven world. Praemo delivers Razor — an analytics engine combining industry expertise with AI and the IIoT to predict and prevent disruption to your operations.
Assembly Line
Smarten Up Your Factory Layouts and Parts Tracking
Using 3D imaging, RIIICO in Aachen, Germany, creates virtual twins of factories, allowing companies to experiment with new layouts. New York-based PrintParts uses innovative, proprietary materials to track specifications and histories for 3D-printed parts using its SmartParts system. The two digital manufacturing technology companies are winners of Hexagon Manufacturing Intelligence’s first cohort of its Sixth Sense accelerator program.
Praemo, the runner-up to RIIICO and PrintParts, develops a machine learning system called Razor that analyzes data from automation, quality, historians and maintenance systems and helps manufacturers develop lean operations and increased productivity.
Sixth Sense selects seven start-ups for its first cohort
Seven Hills was delighted to support the first pitch day from Sixth Sense by Hexagon, a virtual event that saw 13 smart manufacturing start-ups pitch their pioneering innovations to a panel of expert judges and a global audience of 300 manufacturing leaders.
The winning companies as voted by the judges and attendees were:
- IconPro: Software which enables companies around the world to turn production data into sustainable value and growth.
- SmartUQ: The premier supplier of Machine Learning (ML) software optimally designed for science and engineering applications.
- EyeFlow AI: The No-Code SaaS platform to enable anyone to build Computer Vision application with AI in a simple, fast and intuitive way.
- Praemo: Razor™ ingests data as-is from automation, quality, historian, maintenance, and other manufacturing systems delivering differentiating insights to drive next level Continuous Improvement.
- SmartParts: Enabling organizations to unlock the full potential of additive manufacturing by introducing an intelligent material that is scannable, traceable, and cloud-connected.
- SMARTPM: AN engineering company focused on smart automation and optimization of industrial processes, based on in-depth knowledge of industrial and metrology processes.
- RIIICO: Bringing factories into the 21st century with a collaborative planning platform that disrupts how managers visualize their physical spaces and equipment.
Praemo Raises CAD $4.5 Million from McRock, Caterpillar Venture Capital and BDC Capital’s Industrial Innovation Venture Fund
“We are excited to be working with Caterpillar Venture Capital Inc. and BDC Capital Inc.’s Industrial Innovation Venture Fund, and to expand our relationship with McRock. This group of investors speaks to the value Praemo brings to industrial operators; McRock as a leader in the industrial IoT technology space, BDC Capital as a key shareholder providing the capital needed to drive this next wave of advancement, and Caterpillar Venture Capital Inc., a wholly-owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, engines, turbines and locomotives.”, said Michael Martinez, co-founder and CEO at Praemo. “This additional funding allows us to accelerate our technology roadmap while sharing our customers’ successes more broadly across the industrial marketplace.”