SGInnovate and Entrepreneur First also participated in the round.
Launched in 2018 by Surbhi Krishna Singh and Long Hoang, FireVisor has built a machine learning-enabled analytics platform that connects to data sources in the manufacturing plant and performs engineering failure analysis in real-time. It claims that its solution can help firms save manufacturing value equivalent to 15-30 per cent of their revenue.
“Today, an army of human inspectors are needed to make sure no fault escapes the production line, while process control engineers constantly tweak and monitor machines. The machines, on the other hand, produce an abundance of valuable data but these vast amounts of data are unused and simply get discarded,” said Singh, CEO of FireVisor.
The startup caters to manufacturers in Southeast Asia, India and China. It named REC Solar as one of its customers.
“While most innovation on the factory floor has been in data collection and automation, Firevisor goes much further by giving learning and predictive capabilities to manufacturing lines across any industry. Their early customers in the solar sector have already benefited from significant cost reductions and surgical insights on improving their processes,” commented Vishal Harnal, general partner at 500 Startups.
Prior to the 500 Startups-led financing, FireVisor was supported by NVIDIA and NUS Enterprise and received grants from the Vizag Million Dollar Challenge.