Oden Technologies’s U.S. Success Story

The US Expansion

It is fascinating to see how Industry 4.0 is beginning to go beyond the initial hype to become a mature market. In the US and across the globe, manufacturers have made digital transformation a top priority. Incredible investors like Atomico and EQT Ventures are making huge investments in Industrial IoT (IIoT) and manufacturing analytics. The two VCs are famous for their passion for funding companies that are expanding their services to other markets. The two companies are striving to make an impact on the industry within the next couple of years.

Originally, Oden Technologies was founded in London. However, the company has expanded to the US market and has an office in New York. The company pitches itself as an Industry 4.0 company with exemplary and vast knowledge industrial IoT hardware and ‘big data architecture’. In their expansion plan, the company aims to offer a platform for US-based manufacturers of any size to analyze and optimize factory production via the cloud.

Currently, the Oden device plugs into almost any kind of manufacturing machine. At the same time, its software adaptors integrate data from existing enterprise resource planning (ERP) systems and quality control software on the manufacturing line. The data collected is then uploaded to Oden’s cloud analytics platform in real-time. In turn, that gives manufacturers the full production picture, including real-time factory floor monitoring.

In the expansion to take the US market by a storm, the company aims to improve their systems even more. The current improvements of the Oden device aim at making the existing factory floor smarter. This means that the US clients will experience the ability of the Oden device to notice defects of machines that could lead to unwanted products.  The devices will suggest ways to optimize production throughput and uptime. Manufacturers, especially those in the US will notice a reduction in waste and an increase in efficiency. This will help tech-driven factories in the US retain their competitive edge.

Niklas Zennström confirms that areas of inefficiency still predominate throughout the manufacturing sector in the US. He adds that this sector has remained relatively untouched by digital technology. However, he states that they believe that this is about to change. Oden technologies are sure that the combination of IIoT, Big Data analytics, cloud computing, and machine learning marks a new era for the industry. This will be possible by unlocking efficiencies, reducing waste of materials, enabling smaller batch sizes, more personalized products, and greater innovation.

In alignment to the US expansion plan, the company hired Deepak Turaga as its VP of Data Science. Deepak is an Adjunct Associate Professor at Columbia University. He will come in to help the company with its machine learning and AI efforts. He has previously worked at IBM as the Distinguished Research Staff Member and Manager of the AI First ML and Planning Group. The company anticipates that he will come on board to support the course to achieving the set objectives.

To foster the US expansion plan more smoothly, the company also brought on board Atomico CEO. He will join the company’s board to help with the implementation of market expansion plans. He is popular for co-founding Skype.

The US Expansion

Note: This company is not a client of, or associated in any other way with, Mount Bonnell Advisors, or has been involved in this publication. This content has been produced using the following information sources in the public domain:

• https://www.zoominfo.com/c/oden-technologies/398074249

• https://techcrunch.com/2018/07/02/oden-technologies/

• https://eqtventures.com/article/oden-technologies-raises-seed-round-led-by-eqt-ventures/