Batteryless wireless sensing provider PsiKick announced it has changed its name to Everactive and closed a $30 million funding round, led by Future Fund and joined by new investors Blue Bear Capital and ABB Technology Ventures, alongside existing investors New Enterprise Associates (NEA) and Osage University Partners. The company has raised $63 million to date.
Everactive’s initial target market is the industrial sector, where collecting and analyzing data on physical equipment and infrastructure can have a profound and measurable impact—serving to reduce downtime, cut maintenance costs, improve safety and environmental impact, as well as boost overall efficiency.
In late 2018, Everactive launched its first product, Steam Trap Monitor (STM), which is designed to continuously monitor the pervasive industrial and district energy steam trap in order to determine whether or not the trap has failed so that maintenance personnel can act to minimize costly energy waste and safety concerns. Currently in small-scale deployments, the company’s latest products include a Machine Health Monitor that analyzes vibration on rotating equipment, such as industrial motors, pumps, and fans. Everactive also offers a Flare System Monitor that mitigates the length and costs of flaring events in refineries.
Everactive can eliminate batteries due to its underlying integrated circuit and wireless networking expertise. Everactive has not only built its own self-powered sensor devices, but also all the networking, software, and cloud analytics to be able to deliver insights to customers.