Founded by Sameer Patnaik, Srikant Gupta and Pruthviraj Subudhi, Machstatz Business Solutions provides an end-to-end platform in the industrial IoT field. Their platform can be used to configure smart sensors using Wi-Fi and Lora-based technologies. It can also be used to configure existing production floor machines through drag-and-drop method. The platform is compatible with legacy control systems, sensors and other data sources like ERP and MES. Once machines are connected, data extracted from these can be used to analyse and discover hidden patterns and correlations, which can then be used to increase production efficiency and machine uptime and predict failures in real time.
Machstatz also has IoT modules that can be used for industry-specific use-cases. It also installs smart sensors and devices as part of its offering, providing last-mile connectivity to the manufacturing customers. The team uses industrial automation, Big Data, machine learning algorithms, artificial intelligence and augmented reality solutions to cater to the needs of customers.
Within a span of 10 months, Machstatz has won two customers from different industries (automotive and chemical manufacturing). It plans to focus on these industries and scale up. Once the company validates business case in these industries, it plans to reach out to global customers in areas like oil and gas, and food and beverages.
The start-up has been:
1. Recognised by the government of Karnataka as a promising startup
2. Runner-up in Elevate 100 programme
3. Among top 25 startups in a pan-India business plan contest organised by Headstart Network and UK-based accelerator E-Spark Viridian Ventures
4. Among top 60 applicants for Economic Times’ Power of Ideas 2017