dWeb.News: Phaidra raises more cash from Mark Cuban and others to build the ‘future of industrial automation’

Phaidra raises more cash from Mark Cuban and others to build the 'future of industrial automation' Author: Phaidra co-founders Katherine Hoffman (left), Jim Gao (top right), and Vedavyas Panneershelvam. (Phaidra Photos) New funding: Phaidra, a startup that launched in 2019 and is building AI tech for industrial customers, raised $4 million. The software: Phaidra analyzes massive amounts of sensor data and creates intelligent AI agents that automatically control and optimize complex industrial facilities. Customers use Phaidra to improve energy efficiency and sustainability; increase plant safety and stability; and maximize yield. It will use the fresh cash to accelerate growth in industries such as process heating and cooling, chemical manufacturing, and paper and pulp. Leadership: The 15-person company is led by Jim Gao and Vedavyas Panneershelvam, two former employees at DeepMind, the Alphabet-owned AI research hub, as well as Katherine Hoffman, a defense and HVAC industry veteran. "Our goal is to become the future of industrial automation," Gao said. Gao led a 14-person team at DeepMind focused on building AI tech for the energy sector. It helped reduce Google's data center cooling energy consumption by 40%. DeepMind, acquired by Alphabet-owned Google in 2014, is famous for developing the AlphaGo program that beat a human world champion. The company's leadership is in Seattle but it describes itself as an all-remote team. Pandemic impact: Gao said the pandemic accelerated digital transformation plans for many industrial companies. "The companies we work with view Phaidra's intelligence services (i.e. converting sensor data into optimal actions) as a critical competitive edge," he said. Investors: Flying Fish led the round; it also led the company's pre-seed round in May 2020. Dallas Mavericks owner Mark Cuban is also an investor, along with Section 32, Character, and Starshot Capital. New funding: Phaidra, a startup that launched in 2019 and is building AI tech for industrial customers, raised $4 million. The software: Phaidra analyzes massive amounts of sensor data and creates intelligent AI agents that automatically control and optimize complex industrial facilities. Customers use Phaidra to improve energy efficiency and sustainability; increase plant safety and stability; and maximize yield. It will use the fresh cash to accelerate growth in industries such as process heating and cooling, chemical manufacturing, and paper and pulp. Leadership: The 15-person company is led by Jim Gao and Vedavyas Panneershelvam, two former employees at DeepMind, the Alphabet-owned AI… Read MoreStartups, Funding, phaidra More Tech News at https://dWeb.News Read More dWeb.News and dWeb Technology Articles from Daniel Webster dweb Internet Cowboy    More dWeb.News and dWeb Technology Articles at https://dweb.news/ Unsubscribe