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Manufacturing Technology Insights | Tuesday, February 02, 2021
Everactive adds industrial-focused investors to advance the growth of battery-free wireless sensors that allow scalable and cost-effective IIoT deployments.
FREMONT, CA: Everactive, a technology firm that sells category-defining batteryless, wireless Internet of Things (IoT) solutions, closes a $35 million funding round led by Fluke Corporation, the mainstay in industrial test and measurement.
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The industrial sector has eagerly awaited the data explosion promised by IoT solutions but has been continually let down. The new funding will be used to boost sales, marketing, and product development in the industrial area, where the firm is developing a significant customer base for its end-to-end monitoring solutions. The new investors joined existing investors like New Enterprise Associates, which counts former General Electric CEO Jeff Immelt as a Venture Partner and key advisor to its industrial firms' portfolio.
By eliminating the requirement for batteries, Everactive can provide extremely scalable and cost-effective solutions for creating the data streams needed to reap IoT's full benefits. With self-sustaining sensors, retrofitting thousands of legacy equipment pieces across a plant or refinery becomes a reality. Everactive's end-to-end monitoring offerings target high-volume industrial assets that are unmonitored or under-monitored precisely because they exist in such high volume. Indeed, most plants are unwilling to place battery-powered sensors on thousands of motors, pumps, compressors, or steam traps; the logistical cost of adding thousands of items to a maintenance list is not only prohibitive but also defeats the cost-saving purpose of those very sensors.
The company bets that removing the battery from the equation will enable the types of pervasive monitoring deployments long imagined while cost-effectively digitizing thousands of physical assets across a plant to increase uptime, optimize maintenance costs, and enhance environmental, health, and safety. By providing its solutions as-a-service—it is packaging everything from the hardware through the data analytics—Everactive abstracts away the upfront costs and complicated integrations often connected with similar offerings.
The advent of scalable IIoT technology comes at a much-required time in American manufacturing. A growing skills gap leaves fewer workers with the knowledge and experience to keep the manufacturing industry moving. New technology like Everactive offers a toolset to supplement manufacturing workers to do more with less.
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