Razor Labs Team (Facebook)
Razor Labs, a provider of predictive maintenance solutions for the mining industry, will provide licenses for its technology to one of the world’s “mining giants” (the company’s name was not revealed) for as much as $31 million.
In March, it became the First AI Company on the Tel Aviv Stock Exchange TASE after completing its IPO and raising $36 Million.
Founded in 2016 by CEO Raz Roditti, CTO Michael Zolotov, and Ido Rozenberg, Razor Labs calls itself a “partner on the journey for ROI from AI.” The company boasts that it works “day and night to empower enterprises to reap the benefits arising out of the AI revolution.”
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Razor Labs’ main product is DataMind AI, which collects data from all sensors installed on machines. In this way, says the firm, its neural network efficiently processes and learns from this vast information, identifying intricate patterns and correlations within the sensor data, and providing a comprehensive understanding of the machine’s health and behavior.
The platform comprises hundreds of combined years of domain expertise in mining equipment to indicate impending failures that require attention and uncover their potential root causes.
Over the summer Razor Labs announced that it had “significantly deepened its engagement with the world’s leading mining corporations by deploying its DataMind AI Predictive Maintenance platform at three leading mining and steel corporations, across multiple mining sites in Australia and South Africa.”
“We understand that the market needs a partner to help solve problems and not generate new ones,” said Tomer Srulevich, CBO of Razor Labs at the time. “It is with that mindset that we have adapted our offering to include an all-in-one solution for predictive maintenance. Our DataMind AI solution provides sensors, a skilled local team to deploy them, and subject matter experts that understand mining maintenance and can provide insights and prescribed actions. This holistic approach has allowed us to make a huge shift in driving adoption.”
