Volta Venture

"Predictive maintenance" technology is on the rise, with Pepsi, Colgate, and other companies equipping their plants with Augury sensors that use artificial intelligence to "listen" for problems in machines. Founded in 2011, Augury develops wireless sensors that attach to factory equipment and pick up the sounds they emit. The data is uploaded to a cloud-based platform and analyzed by artificial intelligence software trained to recognize more than 80,000 sounds from industrial machines in different life cycles.

Anna Farberov, CEO of PepsiCo Labs, the technology division of PepsiCo Inc, said that in the past year so-called predictive maintenance systems at four Frito-Lay plants have reduced unexpected breakdowns, downtime, and additional costs for spare parts, among other things.

The technology, developed by New York-based startup Augury Inc. has helped Frito-Lay increase its production capacity by about 4,000 hours a year.

According to analyst firm Research and Markets, the global market for predictive maintenance technology, also known as machine health technology, is expected to reach $18.6 billion by 2027, growing at just over 26% annually.

In May, Augury was acquired by Seebo, an AI-based process intelligence startup, in a deal valued at more than $100 million. Yoskovitz, Augury's chief executive, said his long-term goal for the company is not to be acquired by a major manufacturer or IT supplier, but to go public "when the time is right."

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