Adapdix, a company that provides a predictive analytics software platform for industrial machines, has raised $8m in a Series A funding round.

WRVI Capital led the funding round, with participation from new investor Micron Ventures and existing investor X2 Equity.

The California-based firm’s ‘EdgeOps’ platform is used by companies for industrial systems that process AI algorithms locally instead of in the cloud, known as edge AI.

Adapdix said it would use the funds to bolster its position in the edge AI market.

The EdgeOps platform monitors and detects equipment, such as factory robots, to alert engineers of a fault before it leads to a failure.

It is based on data mesh technology, a decentralised system architecture approach that links together data from various locations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This investment round will solidify Adapdix’s leadership position in the market and enable more enterprise companies to control their end-to-end operations – and ensure uptime – with real-time predictive analytics,” said Anthony Hill, founder and CEO at Adapdix.

Adapdix said it initially plans to focus on manufacturing customers in the semiconductor, electronics, and automotive industries. It will then move into additional sectors.

As factories continue to embrace smart technologies as part of industry 4.0, edge AI promises benefits such as reduced latency and energy savings.

“Artificial intelligence will transform how enterprises automate and optimise processes in the workplace,” said Andrew Byrnes, director of venture capital at Micron Ventures.

“Adapdix has an innovative platform with powerful capabilities to generate data insights that quickly and effectively unlock new levels of productivity and streamlined processes.”

Founded in 2014, Adapdix has also been backed by investment bank Morgan Stanley, which selected it in the 4th cohort of its Multicultural Innovation Lab.

Read more: ServiceNow to acquire Element AI in intelligent workflow push