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Alteria Automation

Smart sensor manufacturer for machinery condition-based predictive maintenance that works! Embedded Edge pre-processing technology.

Madrid, Spain

One Liner

One Liner
Smart sensor manufacturer for machinery condition-based predictive maintenance that works! Embedded Edge pre-processing technology.

What Problem We are Solving

Problem
Most economy sectors are becoming more competitive. Avoiding unplanned production stoppage due to machinery breakdown is essential to the industry bottom line. Saving on resources with preventive maintenance that leads to replacing working parts just for the fear of failure has become a target on many sectors. 

Predictive maintenance (as opposed to preventive maintenance) improves production downtime and product quality and increases profits from saving on unnecessary part replacement and unplanned stoppage by replacing parts as necessary just before failure.

To perform Predictive maintenance sensors are installed on to the production machinery gathering condition data from motors, actuators, generators, hydraulics etc.

Today, 80% of the available data in the industrial production lines is lost.  Whilst there are thousands of companies offering software development for Industry 4.0 and predictive maintenance, there is an evident lack of engineering companies specialized in the design and manufacturing of smart sensors, embedded edge pre-processing and effective and secure industrial wireless connectivity products.

About Us

About Us
Industry 4.0 definition calls the creation of a “digital twin”. This is created by adding sensors to the production gear and emulating what is happening in the real world by reading the physical variables with these sensors. 

The “twin” emulates the production equipment creating a digital image of the real world by evaluating parameters such as temperatures, vibration, acoustic energy, lubrication condition, power draw, position, pressure, and many others.

On this digital image, many different tools such as Artificial intelligence featuring Neural Networks and simulation software can be implemented to improve production and created predictive maintenance models.

Industrial sensors read thousands of variables per second in real time, forwarding so much data over communication networks in order to post-process the data creates many practical issues that are turning the implementation of Industry 4.0 into a nightmare and a budget non-sense for most businesses since the very beginning.

So the smart sensor concept was created. Smart sensors are different from plain sensors or transducers in that smart sensors are advanced platforms with onboard technologies such as storage, diagnostics, auto-calibration and connectivity features that transform analogue signals from the physical world into real digital insights.

ALTERIA pushed the bar up developing data pre-processing at the edge. Embedded edge is a technology that performs pre-processing inside the smart sensor, avoiding the messy and costly installation of PC based computing near the machinery.

Our patent-pending embedded edge technology pre-processes complex signals right at the sensor, forwarding a simplified algorithmic based signal image that saves 93% of storage, data payload, and bandwidth required while saving thousands of dollars on gathering each acquired variable.

Our technology eliminates “garbage’ data speeding up the creation of predictive maintenance models. All experts agree that quality data is paramount to the successful implementation of Industry 4.0 and that gathering more data does not solve the problems of the “digital twin” practical implementation 

Venture Highlights

Highlights
GENERAL
- Development started in USA in 2015 & moved to Spain in November 2016.
- Paid in Capital of €400.000 from founder management team members.
- First generation of Alteria’s suite of predictive maintenance products installed and working at the Mercedes Benz factory in Vitoria, Spain (August 2018)
- First generation of proprietary predictive maintenance smart sensors (ultrasound, vibration, temperature, oil condition, voltage, current & environmental) TRL7
- Collaboration & development agreement with Universidad de Alcalá de Henares & MBIT School
- Grants and soft loan financings requested or in progress: Mineco, CDTI, ENISA. (2018)
- Alteria reached revenues north of €200k in 2018 with Multinational clients like Powerlase, Mercedes Benz, Fujitsu and Jeanologia. 

PATENTS, RESEARCH & PUBLICATIONS
- Patent applied for innovative embedded edge pre-processing method that saves 93% of data payload and storage (June 2018)
- Alteria has written 4 White Papers with the following themes: 
Industrial Smart Sensors, Predictive Maintenance, Alteria’s Competitive Edge & Industrial Wireless Communications.
- Article and materials published in prestigious magazine infoPLC++ and Elektor Editorial (June- August 2018)

ACCELERATORS
- Alteria completed Bind 4.0 acceleration program in Spain (July 2018)
- Alteria selected for Digital Attraxion Move Up acceleration program. Program started in Belgium on November 20th, 2018. 
- Alteria selected in Quake Capital acceleration program in the US.  3 Month program starts in California in March 2019.

AWARDS
- Winner of Soltec’s challenge within the ANCES Open Innovation technology contest. (April 2018)
- Winner of Madrid's British Embassy contest to attend “Digital Manufacturing Week” Liverpool (November 2018)
- Finalist in the Chemplast Trade Show Award in Madrid: "Industrial leadership in the use of sustainable technologies and processes". (November 2018)
- Finalist in the Michelin Predictive Maintenance challenge organized by Insomnia in Spain (November 2018)

Business Model

Business Model
In two ways as follows:

Development revenues 
identified as those arising from specific projects signed with large companies Our development revenue strategy is two-fold:
-    Proof of Concept (POC): Development of a specific solution for a client.  This usually requires from 2-4 months to completion, ranges from $25k-$75k in gross revenues and requires from 40-200 engineering hours of development.
-    POC Roll Out: Alteria’s strategy is to sign as many POCs as possible in this early stage providing two clear benefits: these initial clients are paying for the development of our products and the more POCs the more chances for any of them transforming into a roll-out leading to a large contract. 
For example, our Smart Sensor Predictive Maintenance POC in Jeanologia is for their 2 main two Laser products but they have them installed in more than 600 locations (up to 50 units in each location).  Similarly, the coming POCs with Arcelor Mittal, Airficial & Iberdrola all have an enormous potential.
 
Product Revenues
We are preparing to market our smart sensor, node and gateway range as a “plug and play” solutions to be sold online directly to the industry, to system integrators and to software companies offering predictive maintenance applications that are in the need of sensor/wireless communication products in order to be able to offer a turn-key solution.  
This product line is highly scalable as it has a global reach.
The price of our Smart Sensors will range from $300 (simple ones like temperature or environmental) to $1,900 (complex ones like oil condition, Nodes and Gateways).

Competitive Advantage

Quote
We will structure the following response in three sections: Innovation, Approach and Strengths to the market.
 
ALTERIA INNOVATION:
 
- Smart Sensors: Our range of industrial sensors is unique in this market: Firmware defined, OTA/DFU (Over the Air/Device Firmware Update) meaning they are easy to upgrade or update, Remote calibration etc.
 
Pre-processing embedded edge technology forwards only meaningful data without losing the “raw” information that lies beneath (Patent applied for) 
 
This process resolves the problem of transmitting through Wireless IoT (such as LoRa) complex data-rich information (like FFT vibration & ultrasound data) that will need otherwise a wideband approach.
 
- Communications: Proprietary WAN protocol over LoRa modulation system allows Narrow Band IoT systems to be used to forward large amounts of data that are needed in the industry without timing restrictions and resolving collisions (which LoRa doesn’t). 
 
- Data Processing: Proprietary process (Patent applied for) synchronizes data acquisition and transmits data only when a trigger event happens, putting all the related events in time sync for further study at the database. 
 
This process heavily simplifies the creation of neural network models to study complex signals such as vibration or ultrasound that are present or triggered only by events such as in robotic applications.
 
ALTERIA APPROACH:
 
- Use of embedded edge pre-processing technology with low-level programming
- Miniaturized hardware integrates seamlessly with the sensor module or transducer creating a smart sensor very compact product
- Software-defined sensor (SDS) concept provides very flexible and easy   to customize product architecture
- A unique approach to use narrow band I.o.T. allowing the transmission of data-rich spectrum like signals with patented applied process.
- The unique approach to use event-triggered process to simplify neural network models, patent applied.
 
Alteria has a deep know-how in high technology areas such as wireless, transducers, and industrial technology monitoring techniques (vibration, infrared, Ultrasound, Lidar, Sonar, Radar, Computer vision) 
 
Alteria is founded on lean, agile and very efficient low cost structure that uses international freelance talent when needed, minimizing overhead with extensive use of rapid prototyping and computer simulation technologies.
 
ALTERIA’S STRENGTHS TO THE MARKET:
 
- Innovation: Disruptive proprietary technology using powerful embedded edge low-level firmware. 
- A fresh concept: Pre-processing. A technology our competitors do not use.
- Agile and lean, rapid prototyping-driven. We put new ideas like a custom smart sensor into a working prototype in less than sixty days.
- Scalable: We have the expertise to re-use developed technology offering “custom” solutions to other industrial sectors using the same already prototyped products.
- Deep know-how in a wide range of industrial technologies due to an experienced multidisciplinary team and  over 2 years of specific industry research.
- Proved concept: By just exhibiting in two industry trade shows, attending an Industry 4.0 accelerator and participating in two start-up competitions in Spain, Alteria has demonstrated excellent prospects and produced a large waiting list for proof of concept paid demonstrations.  
 
Our hardware technology is protected by industrial secret. Employees sign strong NDA, circuits are potted in epoxy composite resin you can only peep-in with a hammer, firmware compiles from low-level C/C++ and it is almost impossible and very expensive to reverse-engineer. Subcontractors only have partial information of what they are doing.
 

Revenue

Revenue To Date
$431K
MRR
N/A
Revenue YTD
N/A
Burn Rate
N/A

Users

Total Users
5
Total Users (Past 30 Days)
2
Daily Active Users
N/A
Monthly Active Users
N/A
Total Paying Users
5
MoM Growth Users
N/A
Organic Traffic %
N/A

Customer Costs

CAC
N/A
LTV
N/A
Churn
N/A
Margins
70%

Go-To Market Strategy

Business Strategy
Development Revenues: 
We launched our Predictive Maintenance Suite of products with a proof of concept contract with Mercedes Benz factory in  Vitoria, Spain in April 2018.

Alteria has also developed a Smart Sensor Laser steering System for our second client Powerlase (part of the Andritz Group).
 
Alteria is implementing, has signed or is in advanced conversations to sign 10 more PoCs with Multinational Companies.
 
The Go-To-Market strategy in this business line is very simply and effective: Accelerators, Publications, Trade Shows and word of mouth.
 
Product Revenues: 
To be launched at the end of 2019.
 
Alteria has a simple yet effective plan to sell smart sensors. 
Top of the line online shop, aggressive SEO & SEM online marketing, agreements with distributors and presence in Industrial, IoT and Related Fairs Worldwide.
 
These marketing efforts will have different effects in time, thus a carefully planned strategy is needed.   Alteria has identified more than 25 fairs to attend within 2 years worldwide and the main distributors.  Top Spanish distributors are already waiting to start selling our products.

Competitive Analysis

Competitive Analysys
These competitors have a similar product strategy to ours but they do not reach the sophistication and pre-processing capabilities of Alteria. 
 
There are many start-up companies in this market advertising sensor products but our research reveals they are reselling Chinese cheap products that are inadequate for the industrial environment and wireless solutions that are painfully slow or simply not working at all.
 
We have spoken with a large number Multinational companies that are implementing Industry 4.0 with the same feedback: “There is no company that can currently capture relevant complex data (such as vibration) and wirelessly forwards to a long range without interfering with the current systems such as our WIFI or Bluetooth networks.”  
 
We beat the challenge.
 
Competing products:  Industry 4.0 is a new market that is booming with start-ups. However most of them are focused only on high-level software post-processing applications, neural-network centered. 
 
Although this a very exciting field. What we have seen on the market is quite disappointing as most applications were created with a set of dummy data.
 
Our vision is that predictive maintenance models have to be created with real data taken from the right environment.  Further, data needs to be homogenized at source before it is sent to the database for analysis.
 
Substitutive products: Our products are substitutive of a variety of products in the market: plain sensors with Boolean output (ON/OFF), wireless communication technologies such as Bluetooth LE, WIFI, or LoRaWAN that are unreliable, interference prone or inefficient due to time constrained designs, and where it is very difficult to get any real result from.
 
Complementary products: All the companies that are offering predictive maintenance  and marketing software centered products are 100% complementary to our offering and thus potential clients of our sensors, node and gateway range of products. 

Other less comparable competitors are:
Sensor Works, Blautic, Sistemas OEE, Bio Dat, Disruptive Technologies, SICK Sensor Intelligence, Keyence, Leuze Electronics.
Competitor Website
Monnit www.monnit.com
Swift Sensors www.swiftsensors.com
B+BSmartWorx advantech-bb.com

Networking

Networking
We are open to meeting up to grab a coffee, or just to chat. We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!

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TAM SAM SOM

TAM
$33.4B
SAM
$8B
SOM
$100M

Business Stage

Business Stage
Paying Customers

Business Type

Business Types
Investor-Backed

Categories

Technology
Engineering

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