The amount of the deal was not disclosed.
The investment supports a strategic partnership between EDP and Presenso, aiming to accelerate Industry 4.0 adoption within the utility sector.
Led by Eitan Vesely, CEO, and Deddy Lavid (Ben Lulu), CTO, Presenso provides AI driven Industrial Analytics tools for Predictive Maintenance using data science innovations such as Automated Machine Learning (AutoML). These tools are accessible to maintenance and reliability professionals without the need to hire Big Data experts.
The solution is available for both OEM’s which are now developing their Industry 4.0 offerings and to end users operating their own equipment.
EDP Ventures is the corporate venture arm of EDP Group, an early-stage venture capital mainly focused in Seed and Series A aiming to support and stimulate the open innovation process in the energy sector. Currently managing more than 70M€, EDP Ventures looks for disruptive technologies and business models focusing in Renewable Power technology, Smart Grids, Energy Efficiency, Electric Mobility, Energy Storage, AI and ML, Cybersecurity, Digital and Predictive analytics. It is located in Lisbon and São Paulo.