Our investors at Atomico published an insightful report on the future of manufacturing. I am thrilled to see venture capitalists not only understand the value of Industry 4.0 but are investing in this technology. The future of manufacturing is bright, but the true digital transformation requires investments from many different industries to scale quickly. Reports like this prove that a broader group of people are seeing the exciting opportunities that lie in manufacturing.
In a cable manufacturing plant near Chicago’s O’Hare International airport, a few small, sleek black boxes sit discreetly, plugged into decades-old plastic extrusion machinery, silently gathering data.
Distilled down locally on each of the boxes into a smaller set of meaningful variables, the data gathered is then wirelessly streamed to a cloud-based analytics platform, so that factory staff can monitor the production process in real time and from any device.
Oden Technologies — the company behind the platform (in which Atomico has just led a $10m Series A investment) — combines industrial hardware, wireless connectivity and a sophisticated data pipeline to produce an unprecedented (in this industry) view of the factory floor and its production processes.
At this deployment, issues are caught up to 95 percent faster (i.e. in minutes or hours, versus up to weeks), cutting waste by hundreds of thousands of dollars per year per plant, while increasing output by 10–15 percent through increased steady-state line speed.