Amplified Industries (formerly Acoustic Wells), a Somerville, MA-based industrial Internet of Things (IoT) solution, launched from stealth with $10m in funding.
The company intends to use the funds to expand its business operations and empower heavy industry and energy operators at scale.
Led by Sebastien Mannai, Co-founder and CEO, Amplified Industries offers an IoT solution monitoring, controlling and optimizing artificial lift on oil fields in real-time to maximize efficiency and reduce environmental impact. Its proprietary technology enables oil field owners to remotely monitor equipment by leveraging machine learning, acoustic physics and AI-powered edge computing.
The solution can track surface and downhole issues on wells, tanks and valves to prevent leaks by using cloud-based AI and processing coupled with miniaturized scalable hardware augmented by proprietary algorithms. This enables safe remote operations and increases production. The solution encompasses emissions intelligence, allowing operators to close the loop between production and emissions.
The solution is proven in the market with over 4,000 devices deployed across six US states. The full-field automation and monitoring system provides data detecting mechanical issues and leak prevention, including an automatic emergency shut-off for pump failures.
In 2020, Amplified Industries raised a pre-seed round and most recently a seed round led by Schooner Capital. Additional investment was provided by CEAS.
FinSMEs
29/08/2023