Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the utility sector. This time, you get to discover 5 hand-picked asset management startups impacting utility companies.
Global Startup Heat Map highlights 5 Top Asset Management Startups impacting Utility Companies out of 523
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-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 523 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 asset management 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 5 startups & scaleups in this report. For insights on the other 518 asset management solutions for utility companies, get in touch.
Vigti enables the Remote Monitoring of Gas Pipelines
All utility distribution systems are prone to leaks due to their large scale and exposure to the elements. Among these systems, leaks in gas and other fluid pipelines are especially dangerous due to the hazardous nature of these substances. Besides, the existing manual monitoring techniques are not proactive for the early detection of leaks. This is why startups and scaleups are developing sensor-based monitoring systems that continuously monitor the flow and asset parameters.
Vigti is a Singapore-based startup that develops remote monitoring solutions for gas distribution pipeline networks. The startup’s software integrates data from a variety of sensor data like flow rate, pressure, and vibrations and analyzes it using artificial intelligence (AI) to detect anomalies. Vigti’s algorithms also identify the types of anomalies, making it easier for utility managers to dispatch teams to the location of the anomaly. The design of the solution further allows for integration with any type of sensor available in the market, avoiding the need for expensive replacements of existing hardware.
InPipe manages Pressure in Water Pipelines
Maintaining the optimum water pressure is critical to provide the agreed supply pressure to the customer. Pressure surges, in particular, affect the reliability of the pipes and other ancillary components. Existing surge protection devices typically dump water to release the extra pressure, causing the loss of usable water. This is why startups are developing pressure management systems that regulate pressure without wasting water through leaks.
US-based startup InPipe develops pressure-reducing valves (PRV) that convert the surge pressure into electrical energy. The startup’s In-PRV product combines smart control software and hardware that protects the water grid asset while reducing non-revenue water. By converting waste energy into low-cost electricity, the solution reduces operational costs and addresses the requirements of electric utilities. In-PRV also provides water agencies with more control over water pressure during both high- and low-flow conditions. This level of precision eliminates chatter, vibration, and pressure pulses that typically lead to leaks and water loss.
EnrichAI builds AI-based Utility Asset Management Applications
All the components of an electricity distribution system need to function at maximum efficiency for the cost-effective operation of a grid. To achieve optimum performance and prevent failures, the health of all constituent assets requires monitoring and predictive maintenance. This is why startups are developing AI-powered asset management solutions that enable health monitoring. These solutions improve the reliability of the grid components and reduce operating costs.
Indian startup EnrichAI develops internet of things (IoT)- and AI-based solutions for the digital transformation of industries. The startup’s AI-powered applications include an integrated asset management system that provides valuable insights to enable utility companies to make data-driven decisions. These insights further ensure the effective scheduling of maintenance activities with low downtime. EnrichAI also provides a transformer monitoring unit that analyzes oil level, temperature, and humidity to inform utility managers about transformer health. The startup’s solutions also extend the life of assets and reduce capital expenditure.
Platoi develops Geo-Analytics for Water & Sewer Infrastructure
Linear infrastructure like water and sewer pipelines are difficult to monitor in real-time due to their highly distributed architecture. The current methods of monitoring use manual techniques and are labor-intensive. Crucially, they do not provide real-time information regarding the assets. This is why startups are developing technologies that use geographical data to monitor utility assets in real-time. Such solutions improve communication in the distribution system and enable clear decision-making.
Platoi is a Canadian startup that develops asset monitoring solutions using edge data technology. The startup combines machine learning (ML) and remote sensing techniques to deliver insights about the utility assets. Platoi integrates geospatial information with climatic data sources, analyzing and correlating it on an ongoing basis in their cloud computing platform. The visualization, actionable reporting, and real-time alerts enable utility companies to predict operating expenditures and make decisions accordingly.
Neuroflux provides Wastewater Network Management Solutions
In the wake of the Covid-19 pandemic, the use of wipes and paper towels has increased, in turn, resulting in an increase in sewer blockages. Undetected blockages result in a sewer overflow that causes both environmental and material damage. This is why startups are developing solutions that allow the efficient management of wastewater networks.
Neuroflux is a Finnish startup that develops an AI-based network management system for wastewater utilities. The startup helps utility companies visualize the wastewater network on a map and uses AI-generated models to identify anomalies in real-time. This gives utility managers more time to react before the problems escalate. Nueroflux combines data from multiple sources so that, even if one data source fails, the other keeps the engineers up to date on asset status. The solution allows for vendor-independent use of hardware and using data from existing sensors.
Discover more Utility Management Solutions
Utility startups such as the examples highlighted in this report focus on utility infrastructure management, wastewater network management, and pipeline leakage detection solution. While all of these technologies play a major role in advancing utility asset management, they only represent the tip of the iceberg. To explore more technology solutions for utility companies, simply get in touch to let us look into your areas of interest. For a more general overview, you can download one of our free Industry Innovation Reports to save your time and improve strategic decision-making.