Industrial manufacturers face, on average, about 800 hours of unplanned downtime every year, or more than 15 hours per week, according to a recent report. The cost of unexpected troubleshooting, estimated at $50 billion yearly, results in lower productivity and lost revenue. Most companies are still manually troubleshooting, but ControlRooms.ai, an Austin, Texas-based startup, wants to change that.
The company has developed an AI-powered analytics application to automate the industrial troubleshooting process. Today, the startup announced that it has raised an oversubscribed $10 million Series A round, led by Origin Ventures with participation from Amity Ventures, Tokio Marine Future Fund, S3 Ventures, GTM …
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