The Haifa-based company develops and deploys artificial intelligence (AI)-based predictive maintenance software.
Swedish company SKF has signed an agreement to acquire Israeli company Presenso, which develops and deploys artificial intelligence (AI)-based predictive maintenance software. No financial details were disclosed.
Presenso’s AI capability allows production plants to identify and act on anomalies that were previously difficult to detect, automatically and without the need to employ data scientists. This capability will be used to strengthen SKF’s Rotating Equipment Performance offer.
Presenso has raised $3 million to date from EDP, the investment arm of Energias de Portugal, Nexstar Partners, Janvest and angel investment groups including Afterdox and SeedIL. The company was founded in 2015 by CEO Eitan Vesely, CTO Deddy Lavid and chairman Dr. David Almagor. The company has 30 employees in its Haifa office. The office will continue to operate under the leadership of Lavid, who will be responsible for all SKF's AI initiatives.
SKF CTO and president, Innovation and Business Development Victoria Van Camp said, "SKF is all about reliable rotation, technology leadership and solving real world challenges. Today, we are welcoming a team of world-class AI developers, with a production-ready analytics solution into SKF. Together we will change the way industry looks at reliability and make AI an integrated part of production." Presenso is based in Haifa, Israel. The acquisition is subject to certain regulatory approvals and is expected to be completed during Q4 2019.