IoT (Internet of Things) focused data analyst startup – Flutura Business Solutions, have raised $7.5 Million of Series A Funding led by Vertex Ventures which runs under Singapore Government, named Temasek Holdings. This funding is claimed to be one of the largest rounds raised by an IoT startup.
The Bangalore-Based startup was founded in the year 2012 by Srikanth Muralidhara, Derick Jose, and Krishnan Raman. Flutura Solutions provides machine intelligence platform cerebral for managing and optimizing machine performance. Flutura provides Big Data Analytics organization with a pool of M2M Data Scientists, Interaction Designers and Big Data Specialists.
Flutura CEO Krishnan Raman said: “The industrial IoT sector, that we are targeting, has a huge untapped opportunity and our existing solution of providing analytics to predict machine failure is only the beginning of what could be done.”
The startup intelligence provides to disengage a certain part of a machine that indicates likely failure and to send an alert to replace the faulty part. Flutura has worked with big companies like Hitachi, Dell, Intel, and SAP to deliver its analytics solution over cloud and on-premise. It specializes in providing edge intelligence and central intelligence to machines, meaning that large equipment can be trained to react in certain ways in given situations.
The support from Vertex Venture will help Flutura in expanding globally. As the startup has great grip in USA, Japan, and Indian market, they will be now looking for expansion in Europe. Read startup news.