“The last 20 years of IT have been mostly about centralizing computing into the cloud. The next 10 will be about balancing that with a hybrid edge-to-cloud approach – doing the right compute at the right place and at the right level. Our close collaboration with ABB will further enable and accelerate that transition,” explains Blaine Mathieu, CEO of Pratexo.
Pratexo, a member of the ABB SynerLeap innovation growth hub, was one of three winners of ABB Electrification’s 2022 Startup Challenge, a global competition for innovators to develop pioneering concepts that support the world’s safe, smart and sustainable shift towards electrification.
“With the increased focus on IT security and privacy, companies are moving away from centralized cloud to edge and micro cloud based IoT solutions to retain resilience, flexibility and scalability,” said Mads Moeller, head of ABB Technology Ventures for Electrification. “This partnership will fast-track the development of software technology for ABB’s customers to perform real-time, causal analysis for electrical faults, allowing for improved operations.”
The partnership is ABB’s sixth venture capital investment of 2023 and helps expand the company’s ecosystem of innovation partners developing solutions that support decarbonization. Since its formation in 2009, ABB’s venture capital unit ATV has invested around $300 million into startups that are aligned with its electrification, robotics, automation and motion portfolio.
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com
Pratexo was founded in 2019 based on two decades of experience helping to build some of the most scalable and performant computing systems in the world for organizations including PayPal and NASA. Pratexo’s technology platform supports IoT and artificial intelligence strategies and initiatives which demand compute power at the edge, such as near sensors or cameras placed in remote locations. Ideally suited for industries such as electrification, energy, utilities, defense, and smart buildings/cities, Pratexo uses open and proven technologies to configure the most appropriate architecture for a particular type of edge application. www.pratexo.com
For more information, please contact:
Phone: +41 43 317 71 11
Phone: +41 43 317 71 11