AI startup Tranzmeo gets pre-seed funding from state-run refiner
Tranzmeo IT Solutions Pvt. Ltd has raised pre-seed funding from Hindustan Petroleum Corporation Ltd (HPCL) for its artificial intelligence-powered product ‘T-connect OneView’.
The Kochi, Kerala-based startup will use the funds to accelerate research and development of its technology and product line-up. It will also invest on business development and team expansion, according to a statement by IT industry group Nasscom.
Tranzmeo is part of Nasscom's 10,000 Startups accelerator programme.
The statement didn't disclose the amount of funding.
Founded in 2017 by Safil Sunny, Tranzmeo is a technology company that creates machine learning- and AI-based software products for enterprises and startups. Its AI and deep learning-based product ‘T-connect OneView’ is an anomaly forensics application that runs on data streams to impact energy industries.
T-connect OneView streams through real-time machine data to learn machine behaviour and predict anomalies. The application is capable of classifying the kind of failure from the incoming data stream and generate alerts and alarms to the concerned authority, the startup claims.
“We live in the era where everything is driven by data. The old techniques of calendar-based maintenance or reactive maintenance will never be sufficient for this competitive landscape. It's time to look forward to self-healing and auto fault detecting systems,” Sunny said.
Tranzmeo has launched a beta version of T-Connect. It currently analyses 508 kilometers of HPCL’s petroleum pipeline for anomaly detection and prediction.
“Tranzmeo is a uniquely positioned technology company with significant growth opportunity,” said Sanjay Kumar, chief, general business development, HPCL.