Industrial AI Company, Veros Systems, Closes Series C Funding
Summary
Veros will use Series C capital to expand its installed base and capabilities for Cloud computing. "Siemens envisions a future of utilizing existing variable speed drives and other power distribution equipment to not only provide power to the worlds motors, but to continuously monitor industrial equipment performance and health," said Scott Conner, general manager, Siemens Medium Voltage Drives. " Five of these Siemens LDA installations are monitoring subsea pumps at Shells Perdido Gulf of Mexico spar. "Veros products are deployed on multiple Shell assets ranging from LNG Marine, Petrochemical, FPSO and offshore. Veros Systems applies innovative data capture techniques and machine learning algorithms to electrical waveforms in industrial machines to continuously monitor rotating equipment health, gain real-time insights into operating performance and proactively predict failures.
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