HPCL’s investment in Tranzmeo is part of India’s state-owned oil and gas companies’ strategy to partner innovative startups that help them cut costs and increase operational efficiencies.
Kerala, India based, Tranzmeo, an Artificial intelligence (AI) startup, has secured an undisclosed amount of pre-seed funding from Hindustan Petroleum Corp. Ltd (HPCL) for its AI-powered product, T-connect OneView. The industry body said that Tranzmeo is the first AI startup in Kerala to receive funding from a state-run Fortune 500 company.
Reportedly, the firm will use the funds to accelerate research and development of its advanced, proprietary technology and product line-up, bolster business development opportunities, and double the headcount over the year 2019. Moreover, HPCL will also join the board of Tranzmeo.
Sanjay Kumar, Chief General Manager, business development, HPCL, stated, “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.”
T-connect OneView – improving predictability
Incepted in 2017 by engineer-turned-entrepreneur, Safil Sunny, Tranzmeo has uniquely placed itself in the world of AI over 2018. Based on deep learning and other AI technology, the startup has developed ‘T-connect OneView’, a self-learning, data-driven, comprehensive anomaly forensics application, which runs on data streams to impact energy industries.
T-connect OneView streams through real-time machine data to learn machine behavior and predict anomalies. The application is capable of classifying the kind of failure from incoming data streams and generate alerts for the concerned authority.
Safil Sunny, Founder, and CEO, Tranzmeo, stated, “We live in an 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.”
Tranzmeo to enhance its team
According to reports, the company has already launched a beta version of T- Connect and it currently analyses 508km of HPCL’s petroleum pipelines to detect any anomaly. Moreover, it is also working to hire more talent to speed up operations. In 2019, Tranzmeo plans to strengthen its leadership team and improve the customer experience of existing products.
