Industrial AI Startup OnePredict Raises $25 Million Series C
SEOUL, South Korea, March 24, 2022 -- OnePredict, a South Korean industrial AI-based facility predictive maintenance solution company, has successfully closed its most recent Series C funding round of KRW 30 billion (USD 25 million), further strengthening its position in the domestic market and gearing towards global expansion.
Along with previous investors including Stonebridge Capital and Atinum Investment, the latest funding round was made with the participation of a new investor groups consisting of LB Investment, Korea Development Bank (KDB), DAOL Investment, Shinhan Bank, KB Securities, LG Energy Solution, and GS Power. OnePredict has previously received KRW 4 billion and KRW 15 billion in funding in 2019 and 2020, respectively, which makes the total funding attracted by the company to date about KRW 49 billion-- which breaks the biggest investment record in the domestic industry.
OnePredict is an industrial AI-based software solution startup established in 2016 based in Korea. Their flagship "digital twin" solution, GuardiOne, provides a high-accuracy diagnosis of the health status of various key industrial facilities and predicts failures in advance through the company's unique algorithm. Securing top-tier customers in various industries such as high-tech manufacturing industries, energy generation, petrochemicals, and utilities, the company is currently leading the country's industrial AI industry.
Recently, OnePredict launched their GuardiOne Motor solution, which comprehensively manages the condition of industrial motors, and plans for global expansion by participating in major international exhibitions including the upcoming '2022 IEEE/PES Transmission & Distribution Conference.' The startup will use the new funding to advance its solutions and establish global partnerships to strengthen competitiveness in global markets in North America, the Middle East and Southeast Asia.
Ethan Lee, Chief Operating Officer of OnePredict, stated that "…the Series C funding is the result of proving the effectiveness of our solution applied to various industrial sites, and a testament to our customer's trust in our potential. As we have had an edge in various indicators so far, we will do our best to leap into being a global unicorn as an industrial AI company representative."
Seongin Oh, Chief Executive Officer of LB Investment, who led this investment remarked "OnePredict's predictive maintenance technology has demonstrated differentiated capabilities based on its overwhelming technology. Now, it is expected that its AI solutions will lead the digital transformation of the global energy and manufacturing industries."
About OnePredict
OnePredict provides an industrial AI-based solution of predictive analytics software for industrial applications. Analyzing industrial data based on a unique algorithm that combines the depth of domain knowledge and a rich set of available data, the company has successfully delivered some of the most challenging projects that extend across customers in manufacturing, energy, power distribution, oil and gas, and semiconductor industries. OnePredict is growing as a global leader in industrial AI by introducing the GuardiOne solution that provides innovative facility diagnostic insights derived from high-level technology and rich industrial know-hows. For more information, please visit the official website (onepredict.ai).
About GuardiOne
GuardiOne is an industrial AI-based software solution that analyzes industrial big data (noise, vibration, electric current, and temperature signals, etc.) generated by key industrial facilities to diagnose asset health, predict potential failures, and estimate the remaining lifetime of assets. GuardiOne focuses on minimizing downtime and unnecessary maintenance costs that are inevitably caused by existing rule-based management in core industrial facility environments that deal with turbomachinery, motors, and bearings to improve equipment utilization.
Source: OnePredict
