Flutura rides Industrial IoT Intelligence
By mining IOT Sensor/asset/operations data using its data science platform – Cerebra, Flutura Decision Sciences can bubble up previously undetected machine signals, which impact industrial outcomes.
Connecting devices, people, data, machines and everything under the sun… Internet of Things (IoT) is a major technology disruptor revolutionizing a number of industries. It is a growing belief that IoT is the key to get a manufacturing process not just run but thrive and keep it sustainable for many years to come. One such enabler is the Industrial IoT Intelligence company, Flutura Decision Sciences and Analytics, that is powering new monetizable business models using machine signals in the engineering and energy industry. The new business model, that the company empowers, has a direct impact on operational, process and asset efficiency outcomes. The company has sales offices in Houston, Palo Alto in USA and Tokyo, Japan with an engineering hub in Bengaluru, India.
Flutura Decision Sciences can fill gaps in the marketplace to bubble up previously undetected machine signals, which impact industrial outcomes. It does so by mining IOT Sensor/ asset/operations data using its Data science platform – Cerebra.
Passionate about big data analytics, founders Krishnan Raman, Srikanth Muralidhara and Derick Jose took the giant leap into establishing Flutura. “All three of us worked together for 12 years in MindTree setting up their Analytics Practice which is today a key revenue engine. Raman was the practice head, Muralidhara was responsible for execution and I was responsible for new offering creation,” says Derick Jose, co-Founder of Flutura — Krishnan Raman, Srikanth Muralidhara & Derick Jose Decision Sciences. “While we were executing projects, we were convinced about three core insights: One - That the best way to scale analytics was via analytical products instead of having more data scientists, two - That there was more opportunity to unlock value from machine data rather than consumer data and three - A small 1% change in asset efficiencies can unlock millions of dollars for the customers,” explains Jose.
Flutura means butterfly in Albanian and its brand icon symbolizes an aspiration to mimic an essential transformation in nature, which is that of a caterpillar to a butterfly. “Flutura was incorporated in 2012 with a penchant to create a global product company in advanced analytics. We had a choice of solving industry problems using customer data or machine data – we decided to go with machine data since we found a lot of headroom to monetize cryptic machine data,” expressed Muralidhara.
The three founders certainly knew that monetization of outcome economy can be powered by new IoT digital business models. Their experience at MindTree doubly assured them that next generation signal detection platforms are going to be the key lever differentiating the winners from the losers. They knew the convergence of physical and digital world for assets will usher in next wave of competitive advantage and will herald the next set of changes in industrial revolution.
In 2013, Flutura raised its first round of funding of approximately $2 million by venture capital firm Hive Technologies. Hive Technologies is the Big Data startup fund launched by Patni siblings—Amit and Arihant Patni. Flutura was their fund’s first investment since its launch.
Cerebral Mantra
Flutura’s key product is Cerebra – an IoT prognostics/diagnostics platform that the founders believe can detect machine signals that impact industrial outcomes.
On the uniqueness of their product, Jose says, “Cerebra is a game-changing Machine Intelligence Platform optimizing machine performance. Cerebra enables industrial and commercial machinery manufacturers create new business models around predictive maintenance for their equipment.