Alchemy IoT, a provider of AI-powered applications for industrial IoT, announced its cloud application launch ‘IoT Asset Intelligence’ with $4 million seed funding from Aweida Venture partners and many angel funders. The newly launched products help customers achieve a greater return on their industrial assets and competitive advantage.
"The promise of artificial intelligence, machine learning and industrial IoT are very real, but so too are the challenges smaller organizations face when trying to adopt and gain value from these new technologies," said Victor Perez, CEO for Alchemy IoT. "Our mission is to make AI-powered IoT a 'no-code' proposition, one that any industrial company can quickly start and put to use to gain fast value. Too many of today's IoT solutions require a massive budget and an extraordinary amount of customization to even getting started – we aim to disrupt and change that."
"There's no doubt that artificial intelligence and IoT will transform how companies operate and win in the industrial IoT market, and Alchemy has proven that it can make these technologies accessible smartly and practically," said Jesse Aweida, general manager of Aweida Venture Partners.
Functions of the applications are: