Guidewheel, a leader in AI-powered FactoryOps, raised an oversubscribed $31 million Series B funding round led by Decarbonization Partners, a partnership between BlackRock and Temasek. And Ecolab, Rethink Impact, and GSBackers also participated in this round, along with existing investors Greycroft and Breakthrough Energy Ventures (BEV).
Guidewheel offers the first way to bring AI to the factory floor at scale: every machine in every factory. Guidewheel starts with non-invasive sensors that clip like a smartwatch on the power draw of any machine to bring its real-time heartbeat into a connected AI-based FactoryOps platform.
The company enables teams to reduce lost production time, increase efficiency, and enhance performance over time, delivering fast, concrete ROI through its technology, with customers reporting an average of 41% more production from their existing assets.1 Within the same FactoryOps platform, Guidewheel builds in all the tools manufacturers need to track and manage energy and carbon towards sustainability goals.
Guidewheel rapidly releases new features on top of its core platform, built to be easy for customers and developers to build on. And recent new releases include Scout, an AI-based predictive maintenance solution that detects early warning signs of issues before they cause downtime, quality defects, or catastrophic failure. Scout is already driving bottom-line impact for Guidewheel customers, including a Fortune 500 auto manufacturer who averted an issue that would have brought down a line for hours, and a manufacturer of consumer durables who was able to prevent failure of key auxiliary equipment before it caused a plant-wide shut down.
Guidewheel’s recent momentum has been marked by acquiring some of the leading manufacturers as customers, including General Motors, Igloo, Kimberly Clark, JELD-WEN, DRiV/Tenneco, CEMIX, TricorBraun, Reliance Steel & Aluminum, Madison Industries, BorgWarner, U.S. Steel, Berry Global, Myers Industries, and Johnson & Johnson.
KEY QUOTES:
“A new industrial revolution is taking place that will reshape not only manufacturing processes, but entire business models—and the importance of manufacturing has never been clearer. Equipment in factories often lasts for decades, and a significant number of machines are not yet even connected to the cloud. Historically, the only available solutions have been cost-prohibitive and require specialized skills. Guidewheel changes that by providing a fast, scalable solution that minimizes operational disruption to swiftly connect all machines—across all ages, makes, and models—at a fraction of the cost of competitive solutions.”
“We’re thrilled to partner with Decarbonization Partners and all of our amazing investors to supercharge our growth. This financing allows us to further accelerate product development, scale our AI team, and invest even more in Customer Success to support our rapidly growing customer base. We’re one step closer to empowering the world’s ten million factories to reach sustainable peak performance.”
– Lauren Dunford, Co-founder and CEO of Guidewheel
“We’re excited to support Guidewheel not just because their technology solves an important problem for manufacturers, but because they’ve found a way to build sustainability into the core of manufacturing operations. By using Guidewheel to help manage their factory operations, customers can not only improve efficiency and reduce costs, but also reduce energy consumption and emissions.”
– Dr. Meghan Sharp, Global Head and Chief Investment Officer of Decarbonization Partners
“Guidewheel requires no programming and no advanced computer knowledge, but its reports and data are sophisticated and useful. I don’t think another tool like this exists where remote, centralized support provides all the technical expertise required.”
– Jim Campbell, CEO of Guidewheel customer Automated Solutions in North Carolina
“Reaching net zero starts with how we build things. We believe Guidewheel can play a critical role in global industrial decarbonization by enabling manufacturers to better track and manage energy use. Guidewheel is empowering factories globally to reach sustainable peak performance, and the company’s continued growth is a testament to the technology and the team behind it.”
– Carmichael Roberts, Breakthrough Energy Ventures
