Israeli acoustic-based analytics for industrial machines developer 3D Signals today announced the completion of a $12 million Series A financing round led by State of Mind Ventures and with the participation of Grove Ventures, Enrique M. Aboitiz Jr. from the Philippines, and German Dive Digital. This brings the total raised by the company to $17 million. The funds will help 3D Signals aid continue developing its innovative Asset Performance Monitoring solution, and bridge the gap to manufacturing digitalization, also known as ‘Industry 4.0’.
3DSignals’ acoustic-based technology, coupled with AI and machine learning, powerfully bridges this shortfall by extracting operational performance parameters such as availability, speed, and health of industrial machines, and generates insights that improve utilization and increase machines’ productivity. The 3Dsignals solution can be installed in less than an hour, works with a variety of machines from different vendors, both old and new, and shows immediate value.
The Kfar Saba based company was founded in 2015 and the management team includes 3DSignals management team includes CEO Ariel Rosenfeld, cofounder and CTO Offer Affias, cofounder and VP R&D Amit Ashkenazi, and VP Operations David Koren. 3DSignals’ solution has already achieved recognition for its ability to monitor and maintain industrial equipment and processes.
German manufacturer, SAMSON AG achieved a considerable increase in its overall equipment effectiveness (OEE), with 3DSignals’ Asset Performance Monitoring solution, which was successfully installed and up and running in under an hour. "Each installation of 3DSignals’ system improves asset productivity 15%+," said Dr. Andreas Widl, CEO, SAMSON AG. "Looking across the entire value proposition, one can systematically avoid bottlenecks and predict unanticipated downtime. This provides significant value for any production company. We are privileged to be part of 3DSignals’ journey."
Since the deployment of the 3DSignals solution in its factories, the company reports a substantial improvement in daily operations, including workflow optimization, increased production efficiency and machinery optimisation, accomplishing a remarkable advancement towards full factories digitalization.
Rosenfeld said, "There is a growing need for our solution as it has already shown remarkable results within existing customers. Enterprises are realising they can significantly improve operational efficiencies and cut costs through digitalization, and this trend has only just started. Our plans are to focus on growth by increasing 3DSignals’ install base significantly over the next few months across Europe."
Published by Globes, Israel business news - en.globes.co.il - on April 15, 2019
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