Ecoplant, a Kibbutz Gevim, Israel-based provider of industrial IoT solutions, raised €8m as part of a Series A funding round.
The company intends to use the funds to bring its advanced technology to U.S. factories.
Led by Aviran Yaacov, CEO, Ecoplant provides industrial IoT solutions for optimizing compressed air systems. Its SaaS solution continually monitors and dynamically controls air compressors through a connection to their controllers and pipeline sensors. It enables managing either individual compressors or the entire system under changing conditions, such as shifts in production and compressed air consumption.
The predictive Artificial Intelligence (AI) engine optimizes energy consumption, offering energy saving and reducing unplanned production downtimes. The system is system-agnostic, meaning it can integrate with any compressor’s technology or brand. As such, the solution is compatible with more than 100,000 factories in the U.S. and Europe.
The company partners with Atlas Machine & Supply Inc, a Kentucky-based distributor and service provider of industrial air compressors and related products. This partnership gives Ecoplant access to more than 3,000 factories across the Midwest. Currently, the company’s system is deployed in a few dozens of factories in the USA, Europe, and the Middle East and services leading brands such as Ecolab, Danone/Strauss, Nestle, Sano, Polycad and Elbit, among others.