Ecoplant: Israeli IoT startup wins grant, VC funding, new partnership - Business Insider

An exclusive look at the pitch deck Israeli Internet of Things startup Ecoplant used to raise $8 million in VC and grant funding

8/2/2020 11:34:00 AM

An exclusive look at the pitch deck Israeli Internet of Things startup Ecoplant used to raise $8 million in VC and grant funding

Business Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.

and start reading now.Israeli Internet of Things (IoT) startup Ecoplant has raised $8 million in grant and VC funding to expand its air compression operations in the US. Ecoplant's software monitors air compressors — used in various agricultural and manufacturing processes — through sensors, and automatically manages the system utilizing IoT-technology.

Oprah Winfrey Commissions 26 Billboards Demanding Arrests In Breonna Taylor's Killing Oprah's O Magazine puts up billboards all over Louisville demanding action in the Breonna Taylor case Kanye West Booted Off Illinois Ballot Due to 1,900 Invalid Signatures

"5% of the world's energy is used by air compressors," Aviran Yaacov, cofounder and CEO of Ecoplant told Business Insider. "So much energy is wasted every year from leakages, breaks, and other downtime which our IoT solution is able to help resolve."

Visit Business Insider's homepage for more stories. Israeli IoT startup Ecoplant, which builds software that monitors and manages air compression systems used in many industries, has raised $8 million in grant and VC funding to expand its US operations. 

Air compressors, common in agricultural and manufacturing industries, use up massive amounts of energy, and Ecoplant claims its software can reduce wastage. The company has raised $8 million in the form of clean energy grants from the US Department of Energy, Israel's Ministry of Energy (MoE), and the Israel Innovation Authority, plus additional funding from accelerator program Techstars and Ecolab. 

A 2015 report by the US Department of Energy estimated that compressed air systems account for 10% of all electricity and roughly 16% of all motor system energy use in US manufacturing industries — a staggering figure. "5% of the world's energy is used by air compressors," Aviran Yaacov, cofounder and CEO of Ecoplant, told Business Insider in an interview. "So much energy is wasted every year from leakages, breaks, and other downtime which our IoT solution is able to help resolve."

Yaacov claims that the company's software saves up to 30% more energy, and halves unplanned downtime. To that end, Ecoplant has signed a partnership with Atlas Machine, a Kentucky-based distributor of industrial air compressors, and agreed to bring Ecoplant's tech to US factories. 

"Our partnership with Atlas allows us to significantly scale through the thousands of factories they service," Yaacov added. "During COVID we managed to install an entire project remotely which was amazing."Ecoplant's software monitors air compressors through a connection to controllers and pipeline sensors, and automatically manages the system with IoT-tech. Other clients include Nestle, Unilever, Danone, and Elbit.

Couple loses 80 pounds combined during quarantine Canada to impose tariffs on $2.7 billion in U.S. goods after Trump reignites trade feud Promising Covid-19 treatment offers test run for vaccine distribution

Check out Ecoplant's pitch deck below: Read more: Business Insider »

Air India Express flight skids off runway, leaving at least 16 people dead

An Air India Express flight with 190 people on board skidded off a runway, leaving more than a dozen people dead.

The Start Up Nation continues to impress! Nice work israel always looking for ways for earth to be sustainable and is a leading example to other nations ti be more green Sustainable business is the way forward not only working towards achieving business models but combining world values within them and helping others.

Power Line: Insiders and leaked audio reveal new details of job cuts at Exxon - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.

Why Gumroad CEO Sahil Lavingia is starting his own rolling fund - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.

Peacock reported 10 million sign-ups this week - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Interesting & well considered distinction.

AI healthtech startup Perspectum used this pitch deck to raise $36m - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.

Marvel insiders describe a lack of diversity in editorial leadership - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.

5 tips on starting a new job remotely from tech unicorn Celonis' COO - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. readJerome It just happened to me 😳 Biz Insider directing to Pulse with some rather risqué articles at first sight 🤔 Weird.