Flutura is an AI Solutions company focused on improving two core business objectives of Asset Uptime and Operational Efficiency We do this with Cerebra, our AI Platform tuned for IIOT in Oil & Gas, Process Chemicals, and Heavy machinery manufacturing industries, powering connected asset and connected operations use cases. Taking the exclusive space in this episode of Technovators segment, Flutura is a snowballing company which is certainly stealing eye balls. Niloy gets alongside with Krishnan Raman | CEO, Derick Jose | Chief Product Officer, Srikanth Muralidhara | Chief Customer Officer, Flutura Decision Sciences And Analytics to demystify their essence of success in the emerging Artificial Intelligence market.
What exactly do you do?
Flutura is an AI Solutions company focused on improving two core business objectives of Asset Uptime and Operational Efficiency. We do this with Cerebra, our AI Platform tuned for IIOT in Oil & Gas, Process Chemicals, and Heavy machinery manufacturing industries, powering connected asset and connected operations use cases. Cerebra has the advanced capabilities to integrate physics, heuristics and machine learning based models to generate actionable business insights.
How unique are you w.r.t. your competition?
Below are the major factors that differentiate Cerebra from other solutions available in the market.
Cerebra outperforms on the accuracy, time to value and ROI having achieved >95% accuracy of models in data-rich environments. Even in limited data environments the platform detects an anomaly in a robust fashion and provides insights that are not seen before. Cerebra provides seamless integration with a 5x-7x faster implementation time compared to any other platform in the market. The product brings data science to engineers by comprising multi-domain physics features power Cerebra’s machine learning algorithms that aids in accelerated data-driven root cause analysis of operations and engineering. It self-learns and surfaces patterns & exceptions which is worthy of investigation.
The digital twin option available in Cerebra holistically supports technology, operations & engineering nuances with high performance & scalable bleeding edge technology for real-time large-scale deployments. It is the most comprehensive in the industry with 400+ Industrial IoT specific features.
How has your growth been in the last 2-3 yrs?
Flutura has been delivering maximum value from the IIOT solution that can be unlocked at the intersect of Engineering Operations, Business Processes and Economics. This has helped the company’s growth in a commendable way be it in terms of acquiring new clients or the scale of deployment of the product for our existing clients.
New clients grew from 10 to 30+ in the past 3 years, while for the existing clients there has been tremendous scale in Operation. Seamless integration of Cerebra helped in scaling solutions to a fleet of 700 high-pressure fracking pumps in upstream and 60+miles of pipeline in midstream. The solution has been deployed across 120+ manufacturing lines, 20+ manufacturing plants across 15 countries in downstream and process manufacturing industry.
What are your current offering and R&D strength?
Flutura’s flagship Cerebra has vertical-specific digital assistants for across the value chain of Oil & Gas, manufacturing, and other industries we are present in. Our research is of twofold. Firstly, it is deepening the capabilities and features of the existing products. Secondly, developing a new product that caters to the industry needs and also complements the existing products. Video Analytics module is a framework capable of integrating asset monitoring and diagnostics data with video insights, to create a holistic picture for the supervisors that will help in diagnosing asset downtime and plant safety. It is revolutionizing the areas of risk mitigation & management, monitoring & security and operational efficiency.
Engineer’s WorkBench is to enable engineers to apply AI without being experts in data science. Engineers can now experience the power of data science, without them putting any extra effort (of coding).
What is your revenue mix as of now?
Our Business model is pay-as-you-go model. Usually, pilots are charged on a flat fee basis and during the scale-up – we have a subscription model based on the scale of the operations or assets.
What motivates & keeps you going?
Flutura has a different take on risks since we view every business challenge as new learnings. A lot of learning in our journey has happened in the market front – expanding our customer base into our current focus verticals, new verticals, new geographies, and building a strong partner ecosystem. Tackling the trickiest issues in the fragmented Industrial IoT market of deciphering buyer’s mental model, tapping into underserved challenges in this space stimulates us.
Discovering next moon-shot ideas or product features, easing on top friction points for our business, and expanding to uncharted territories has been the motivating factor to all of us. Achieving every business plan made and learning from challenges has kept us going.