INSUBCONTINENT EXCLUSIVE:
Oden Technologies, the Industrial IoT startup that provides manufacturing data analytics, has closed $10 million in Series A funding.The
recent investment in CloudNC
A number of existing investors also participated including EQT Ventures, and Inbox Capital
in London but now based in New York, Oden Technologies pitches itself as an Industry 4.0 company that has built its own industrial IoT
existing enterprise resource planning (ERP) systems and quality control software on the manufacturing line
real-time factory floor monitoring.So, why is this significant Essentially, the retrofittable Oden device and resulting data analytics makes
the existing factory floor smarter
broadly, ways to further optimise production throughput and uptime.The result is a reduction in waste (think: products that need be
discarded or are ultimately returned by customers), and an increase in efficiency more generally, helping tech-driven factories retain their
However, with the collision of big data, cloud services and new industrial IoT hardware, this is quickly changing and is the exact space
machine process, health, the processing of the part/product, and quality
the melt pressure of the material, the temperature profile when the material melted, dimensional read outs to understand the quality of the
product, and water temperatures from cooling tanks
Other data points include revolutions per minute on moving parts inside of a machine, the motor load of the motors, and the speed of
product, was the quality Ok, and if not why, alerting for when things are bad or will be bad, and [doing] trends analysis for how the
As a result, it still has major areas of inefficiency
This will see Industry 4.0 technologies not only increase efficiency and reduce waste, but also enable smaller batch sizes, more
personalised products and greater product innovation.Meanwhile, Oden says it will use the new funding to further expand its RD and
engineering teams in New York, and to accelerate customer growth with new sales teams in the manufacturing hubs of Illinois, Ohio and
Texas.The company also recently hired Deepak Turaga, Adjunct Associate Professor at Columbia University, as its VP of Data Science
and Manager of the AI First ML and Planning Group.
