Kerala-based startup Tranzmeo has secured an undisclosed pre-seed round funding from Hindustan Petroleum Corporation Ltd (HPCL) for its AI powered product, T-connect OneView, the industry body said in a statement on Wednesday.
Bengaluru, 27 Dec, 2018. RedNewswire/-
The raised funds will be used to accelerate research and development of its technology and product line-up. It will also invest on business development and team expansion. HPCL will also get board seats in the company.
“Tranzmeo is a uniquely positioned technology company with significant growth opportunity. The team has developed an impressive product and we’re excited to be working together to scale the business,” said Sanjay Kumar, chief general manager, business development, HPCL.
Tranzmeo, which is a NASSCOM 10,000 incubated startup, has already launched a beta version of T-Connect and it currently analyses 508 km of HPCL’s petroleum pipeline for anomaly detection and prediction.
Founded in 2017 by Safil Sunny, Tranzmeo is a technology company that creates machine learning- and AI-based software products for enterprises and startups. Its AI and deep learning-based product ‘T-connect OneView’ is an anomaly forensics application that runs on data streams to impact energy industries.
“We live in the era where everything is driven by data. The old techniques of calendar-based maintenance or reactive maintenance will never be sufficient for this competitive landscape. It’s time to look forward to self-healing and auto fault detecting systems. It’s time for smart industries,” said Safil Sunny, founder and CEO, Tranzmeo.
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