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It's time to build, Amygda

Faizan Patankar on 30 June 2020

As a kid, in a remote village near Goa (India) I used to spend my summer holidays dismantling mechanical equipment at home. That's a fancy way of saying I would open fans, calculators, and other stuff which my grandfather had left behind from his time.

I spent an awful lot of time opening them up, but was never able to put them back together. In the condition they were.

Fast forward to 10 years later in life.

I started studying Mechanical Engineering from the age of 16. I loved machines, and wanted to learn more about them from every aspect. Also, it was my way of thinking if I could get into industries that break things, it would be the best thing ever.

Turns out, studying Mechanical engineering was all about building things. Building things that would last 50 years or more. Oh dear, did I just chose the wrong career path? And now I have to look after machines?

Finishing university, I worked in industrial businesses like SSE, and Rolls-Royce to make sure we knew when machines would break and prevent that from happening in a surprising manner.

And a further 10 years from my first day at work, I questioned why do machines have to break?

You see, one of the fundamental things I learnt from tinkering with machines as a kid was that even if they were put together, they never operated to their best condition.

These machines weren't broken. They didn't need tinkering. And least by someone who didn't understand how intricate each component of that machine is.

And yet, industries today continue to use outdated maintenance strategies, either

  1. mandated by the manufacturer or
  2. built over years of tinkering

What if machines didn't break?

Machines don't have to break

That's the vision of Amygda.

And I am building that.

Amygda provides AI-driven actionable insights for industrial businesses to remove unplanned maintenance from their operations, increase efficiency, and reduce operational costs, safely.

We are on a mission to help industries smarten up their maintenance strategies. And in the process help them transform into pioneering organisations of the future industries.

The future is data-driven

The past decade has seen the rise of Software. Heck, Andreessen Horowitz in 2011 quoted, "Software is eating the world". In industries this rise of software has predominantly been driven by employee cost-cutting measures.

But this rise in software never solved the true problem. One of finding insights to make a step change in efficiency and increasing return on investment for industrial equipment owners and operators.

Industries merely replaced what humans were doing on the periphery of a business. The machines and processes around machines stayed the same. For example, procurement of parts was sped up due to procurement software, however the real problem of whether the part actually needs replacing or repairing was never questioned.

That problem is one for data to solve.

At Amygda, we are using data and domain knowledge to build solutions for deep industrial problems. Historically these have been left to equipment manufacturers to solve.

However, when the manufacturer's business model relies on more equipment sales, and more sales of repair or replacement services, you can see why the problem was never solved.

We are an independent partner to owners and operators.

Building for volume, velocity, and veracity of industrial data

All data is alike is a myth.

Ask any company that offers good aftermarket services (and there are less than 10 globally who really do that) and you will understand that in industrial space the volume, velocity, and veracity of data is different.

We are building the ability to ingest industrial data across various equipments. A problem that VCs and startups still grapple with figuring out how to do that at scale. However, by solving that we are able to be equipment agnostic and work with various industries.

Our experience lies in deep industrial domain.

Roadmap ahead

We have an incredible roadmap of what we want to achieve. We are in discovery calls with industrial businesses whilst building Amygda.

It's a challenge industrial businesses have only seen amplified due to the pandemic. More than ever they need insight into how to operate their machines efficiently. Remove downtime. And increase the ROI. We are enabling that.

To find out more, view Amygda website.

More to follow

I am excited. And curious.

As we build Amygda, to solve today's industrial challenges and enable future industries and mobility businesses, we know the challenge ahead of us.

And I can't wait to tell you more...