Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the process industries. This time, you get to discover five hand-picked AI solutions impacting process industries.
Out of 613, the Global Startup Heat Map highlights 5 Top AI Solutions impacting Process Industries
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 613 exemplary startups & scaleups we analyzed for this research. Further, it highlights five process industry startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these five startups & scaleups in this report. For insights on the other 608 AI solutions impacting process industries, get in touch with us.
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ChemIntelligence accelerates Chemical Product Development
Founding Year: 2018
Location: Lyon, France
Partner for Material Research & Development (R&D)
French startup ChemIntelligence develops AI-based software for chemistry and material applications. The startup’s platform uses R&D data to predict the properties of molecules, materials, and formulations. The platform further suggests the most relevant experiments to perform in order to obtain molecules, materials, or formulations that meet specific process requirements. The startup’s proprietary AI algorithm learns the complex relationships of all performed experiments even when the underlying physics is not well-understood. This results in a reduction in the number of experiments needed to develop products or relevant chemical reactions.
ChemTech AI offers Factory Optimization
Founding Year: 2018
Location: New York, US
Funding: USD 150 000
Use this solution to improve Manufacturing Reliability
US-based startup ChemTech AI develops an AI-based software that improves chemical plant operations. The startup’s platform, AI Operator, enables real-time factory optimization by analyzing numerous parameters like temperature, pressure, and product quality. These adjustments get the production back on track in the case of an equipment failure or process performance issue. This allows the solution to improve manufacturing key performance indicators (KPI) such as production yield, energy costs, and greenhouse gas emissions.
Algo8 AI provides Asset Management
Founding Year: 2016
Location: Noida, India
Partner with Algo8 AI to Maximize Asset Utilization
Indian startup Algo8 AI provides custom AI solutions for the process industries. iAssets, the startup’s asset management platform, improves visibility around critical equipment, minimizes downtime, and maximizes equipment operational efficiency. The solution uses both historical and real-time data to predict failures, recommend corrective actions, and improve overall effectiveness for assets. This way, it aids supply chain automation, process optimization, intelligent asset management and maintenance, and energy efficiency control.
ChAI enables Strategic Material Procurement
Founding Year: 2017
Location: London, UK
Funding: USD 1,9 M
Work with ChAI for Raw Materials Management
Uk-based startup ChAI develops an AI platform for strategic material procurement in the process industries. The startup’s platform provides numerical predictions about raw material availability 1 week to 6 months into the future. These insights allow procurement specialists to secure more favorable contracts with suppliers well in advance. This results in a significant reduction in the bottom line of process-based companies, thus increasing profits.
Volur delivers Meat Processing Optimization
Founding Year: 2019
Location: Oslo, Norway
Funding: USD 1,3 M
Collaborate for Food Processing Inventory Management
Norwegian startup Volur develops AI-based software to optimize meat and poultry processing. The startup’s solution analyzes various data streams and uses AI algorithms to optimize decisions in pull-driven value chains. The solution also simulates various decisions and calculates the effect of every scenario in both sales and factory operations. This creates an inventory strategy that provides the user with the optimal inventory levels and knowledge of what products need to be pushed into the market.
Discover more Process Industry Startups
Startups such as the examples highlighted in this report focus on control systems, lean manufacturing, and quality inspection. While all of these technologies play a major role in advancing process industries, they only represent the tip of the iceberg. To explore process industry technologies in more detail, let us look into your areas of interest. For a more general overview, download one of our free Industry Innovation Reports to save your time and improve strategic decision-making.
