Browse by Editorial Category
Browse by Edition Date

February 2019

Skip Navigation Links.
Expand Applying TechnologyApplying Technology
Collapse Current NewsCurrent News
Reliably Heating Manufacturing Plants
Spectro Scientific Acquired by AMETEK Inc.
Registration Opens for ASSPs Safety 2019 in New Orleans
Custom Process Piping
Bokerand#39;s Reaches 100-Year Milestone
Central Tube and Bar Announces Conway Facility Expansion
Charlotte NC Sees Rise in Advanced Manufacturing
Coordinate Metrology Society Issues Call for Papers for Annual Conference
AmTTech Open House February 13 2019
Fives Machine Tool Services and Solutions Business Relocates
G.H. Tool and Mold Announces Certification
HEIDENHAIN Opens New West Coast Office
Hoffmann Group Wins German Design Award 2019
HOUSTEX 2019 Taking Place February 26-28
Industrial Innovations Provides Lubrication Systems to Tenneco
Inteva Products Wins Best of MichBusiness Award
Inteva Products Announces Investment and Job Growth Plans in Ohio
Kapp Technologies Koepfer America and Penta Gear Metrology Collaboration
Machine for Forming Rifling Grooves in Gun Barrels
Hydraulic Pump for Automated Workholding Actuation
MachineMetrics Announces $11.3M Series A Funding Round
Marposs Acquires Automation Assembly and Test Company
Mazak Advances HYBRID Technology with MegaStir Acquisition
Mazak to Open New Technical Center in San Francisco
Mid Atlantic Machinery to Host STEEL TECH Feb. 5-7
Modineer Co. Inc. Acquired by Private Investment Group
Northrop Grumman Expands Arizona Operations
ONCAP Acquires Walter Surface Technologies
Optomec Acquires Huffman
Quinsigamond Community Colleges Manufacturing Program Receives Grant
Manufacturing Assembly Provides Single-Source Production Solution
Seco Wins Supplier Award From Distributor Organization
Solar Atmospheres of Western PA Commissions Large Car Bottom Air Furnace
Moving Mazatrol Programs from One Mazak to Another
Clamping Shaft Collars Rigid Couplings Permit Precision Mounting
Stanek Tool LLC Achieves ISO Certification
U.S. Subsidiary of Steinmeyer Has New Location
Technology Investments Lead to Enhanced Quality and Faster Production Times
Tool-Flo Manufacturing Opens New Facility
Tornos Moves Headquarters
TRAK Machine Tools Announces New Western Region Distributor
Source for Equipment Funding
Weiler Abrasives Continues Commitment to Support Workshops for Warriors
New ZEISS Facility Offers System Demonstrations Metrology Services
Expand EDM Machinery-ConsumablesEDM Machinery-Consumables
Expand HOUSTEX Product PreviewHOUSTEX Product Preview
Expand People In The NewsPeople In The News
Expand SawsSaws
Expand SoftwareSoftware
Expand WorkholdingWorkholding

show all editions →

Click here to watch Tutorial Videos >

MachineMetrics Announces $11.3M Series A Funding Round



MachineMetrics, which equips factories with the digital tools needed to increase productivity and win more business, has raised $11.3 million in Series A financing.

Tola Capital led the round with participation from existing investors Hyperplane Venture Capital, Long River Ventures, Mass Ventures, Hub Angels and Firebolt Ventures. With the new funds, the company will expand its data science and product development teams while accelerating global sales.

"MachineMetrics is a pioneer in Industrial IoT (Internet of Things) and artificial intelligence technology," said a company spokesperson. Its system is designed so that customers can install it themselves without the need for expensive and time-consuming customization.

Once installed, manufacturers can collect, visualize and analyze data from any industrial machine. It automatically senses when there is a problem, and even learns to predict some problems hours or minutes before they occur and recommends solutions that reduce costly unplanned outages.

"In addition, MachineMetrics benchmarks a company's machine performance against those of their peers to help guide future investments," said the spokesperson.

"Now is the internet moment for manufacturing," said William Bither, CEO and co-founder of MachineMetrics. "Because we are pulling data from thousands of machines, we are able to gain a unique understanding of their problems. These insights are delivered back to our customers so they can take action to gain a competitive edge."

Integrated into factories globally, MachineMetrics serves customers including Fastenal, Snap-On Tools, National Oilwell Varco, Gardner Denver, Continental, Saint Gobain, Shiloh Automotive and SECO Tools.

"With MachineMetrics, we boosted production by more than 100 hours each month in the first three months alone," said Tim Borkowski, Vice President of Manufacturing at Fastenal, a global maker of industrial equipment. "There is no more educated guessing or finger-pointing; there is a solid reason behind everything and every decision we make. I can not imagine what life would be like if you took it away. It is that ingrained in our day-to-day operations."

The company's latest solution allows factory workers to share MachineMetrics' data with their remote maintenance teams and makers of their equipment, and vice versa. This enables service teams to identify problems through remote diagnosis, reduce onsite service visits by 10% to 20%, and receive predictive maintenance alerts, which could lead to new business.

According to Mike Mugno, Vice President of Rem Sales/Tsugami, "MachineMetrics Service is a game changer. We can now provide faster, better service because we are collecting data that really did not exist before."

Manufacturing accounts for 16.6% of global GDP and is on the brink of a new digital age, often called the Fourth Industrial Revolution. That revolution combines two advancements - predictive analytics and artificial intelligence - and applies them to physical objects (i.e. a Nest thermostat), creating the IoT. Only with this ability to send and receive data can humans, and one day the objects themselves, figure out how to slash waste and increase output.

"Manufacturers have to digitize if they want to remain globally competitive," said Aaron Fleishman, Principal at Tola Capital. "Real-time shop floor visibility is the first step toward digital transformation. MachineMetrics' platform provides this and goes a step further by providing AI-driven predictive analytics for manufacturers to make more informed real-time decisions. It is no longer a question of if, but when, manufacturers will adopt this transformative technology."

For more information contact:

MachineMetrics

5 Strong Avenue

Northampton, MA 01060

413-341-5747

info@machinemetrics.com

www.machinemetrics.com

< back